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DAX rising inside C-wave 5/27/2016 DAX rising inside C-wave Next buy target - 10480.00 DAX has been rising steadily in the last few trading sessions inside the C-wave of the intermediate ABC correction (2) from the start of May. The active C-wave earlier broke through the resistance level 10100.00 (upper boundary of the narrow price range inside which the pair has been trading from the start of this month, as can be seen from the daily DAX chart below). The breakout of this price range intensified the bullish pressure on this index. DAX is likely to rise further in the active waves C and (2) toward the next buy target at the resistance level 10480.00 (forecast price for the termination of wave C and the top of the previous primary ABC correction ②). More: https://new.fxbazooka.com/analytics/9077

EUR/USD falling inside impulse waves 3 and (3) 5/27/2016 -EUR/USD falling inside impulse waves 3 and (3) -Next sell target - 1.1130 EUR/USD recently reversed down from the resistance level 1.1220 (former support level and the sell target set in our previous forecast for this currency pair, acting as resistance now after it was broken by the active minor impulse wave 3). The active impulse wave 3 belongs to the intermediate downward impulse wave (3), which started earlier this month – when the pair reversed down sharply the daily Falling Star from the long-term resistance level 1.1600, as can be seen below. EUR/USD is likely to fall further in the active impulse waves 3 and (3) toward the next sell target at the support level 1.1130 (which reversed the price earlier this week). More: https://new.fxbazooka.com/analytics/9076

GBP/JPY reversed from resistance zone 5/27/2016 -GBP/JPY reversed from resistance zone -Next sell target - 158.00 GBP/JPY continues to decline – following the earlier downward reversal from the resistance zone lying between the pivotal resistance level 162.50 (which has been reversing the price from the end of March), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp intermediate downward impulse (5) from the start of February. The downward reversal from the aforementioned resistance zone completed the previous intermediate ABC correction (2). GBP/JPY is likely to fall further toward the next sell target at the support level 158.00 (which reversed the price earlier this month, as can be seen below). More: https://new.fxbazooka.com/analytics/9075

GBP/USD: forecast for May 30 - June 5 5/27/2016 Broadly speaking, June is expected to become a volatile month for the British currency. Markets remain occupied with the Brexit referendum due on June 23. If the United Kingdom votes to abandon the European Union (EU), sterling could lose its role of the world reserve currency and depreciate significantly in all the major currency pairs. According to Britain’s Finance Minister Osbourne, a Brexit could pull the UK economy into a long-lasting recession, potentially forcing the extermination of more than 800,000 jobs in two years. All these expectations are expected to hurt the British pound in the coming weeks. From the technical viewpoint, GBP/USD has been forming a rising wedge pattern since February. We see potential for a double top with resistance at 1.4760 being formed before the long-term downside is resumed. Key support is now seen at 1.4500. Break below would confirm the end of the bullish move. This forecast coincides with the rising US rate hike expectations. More: https://new.fxbazooka.com/analytics/9074

US Dollar: forecast for May 30 - June 5 5/27/2016 Traders’ eyes all over the world are glued to the US Dollar these days: are we now entering a new phase of the greenback’s strength? Do we need to prepare ourselves for the new shocks on global markets? Last week we’ve seen a bunch of upbeat US data: US durable goods orders surged in April on increased transportation demand, while the pending home sales reached their highest level in almost a year. We see that the US economic fundamentals are quite sustainable, so the major question is now about the rate expectations. Big names of the US officials are standing in line to warn that a rate hike is coming in the nearest future. The Fed’s member Powell joined the party last week. The market is now quickly repricing the number of rate hikes in 2016 – the chance is rising from 1 to 2 or 3 hikes. US economic calendar for the new week is very active. On Monday, markets will be closed due to a bank holiday. On Tuesday, we’ll watch the personal spending figures and consumer confidence index. On Thursday, apart from the OPCE meeting, we’ll be watching an ADP NFP and unemployment claims, while on Friday markets will focus on the official labor market figures. In April the US economy added only 160K new jobs, but the wage inflation showed some signs of rising. May NFP consensus is seen at 163K. A better reading will clearly trigger a rally of the US currency. More: https://new.fxbazooka.com/analytics/9072

Forex trading plan for May 27 5/27/2016 US dollar index declined for the second day, despite the fact that American durable goods orders showed larger gains than expected. Among the important things to pay attention to on Friday we should cite the release of the US preliminary GDP at 12:30 GMT (positive forecast) and the speech of the Federal Reserve’s Chairwoman Janet Yellen at 17:15 GMT. If Yellen follows the number of the Fed members who pointed out that the central bank could increase rates this summer, US dollar should get a new push to the upside. Oil prices rose above $50 a barrel as US crude inventories decreased. Note, however, that concerns about US interest rates and China’s economic slowdown may limit further gains. EUR/USD recovered to 1.1200, though there’s resistance at 1.1218/25. Next resistance levels lie at 1.1240 and 1.1300. Support is at 1.1135, 1.1100 and 1.1050. The short-term trend for the euro is still bearish. GBP/USD paused above 1.4700. The UK’s latest GDP report showed that British economy added only 2.0% year-on-year in Q1 failing to meet the annual forecast of 2.1%. Resistance is at 1.4770 (May high, 200-day MA). Support is at 1.4635 and 1.4550. USD/JPY is consolidating within a triangle (109.00-110.50), which means that an increase in volatility will happen soon. It seems that there are some heavy sellers at the top of this range, so its downside border seems more vulnerable. More: https://new.fxbazooka.com/analytics/9071

USD/JPY: bulls holding the fort 5/27/2016 There’s a “Harami” at the local low, but its confirmation is weak, because the price movement hasn’t reached the middle of the last huge black candle. So, the current consolidation is likely going to move on. As we can see on the Daily chart, here’s a strong support by the 13 Moving Average. The bearish “Harami” and “Tower” haven’t been confirmed, so the price is free to continue the current upward movement until any bearish pattern arrives. We’ve got a flat in progress in a range of the last black candle. The price reached the nearest support once again, so it’s possible to a rise in the short term. The main target is still the maximum, which was formed in 2014. More: https://new.fxbazooka.com/analytics/9070

EUR/USD: bears are attacking bulls by the "Shooting Stars" 5/27/2016 There’s a “Tweezers” on the “Window’s” upper side, which has been confirmed. After a while, an “Engulfing” arrived on the Moving Average, but a “Harami” was formed in the short run, so an upward movement becomes possible in the direction of the 34 Moving Average and the upper “Window”. As we can see on the Daily chart, here’s a “Harami”, which has been confirmed. Therefore, the market is likely going to moving up during the day. We’ve got a correction inside the main bearish trend. There’re a couple of “Shooting Stars” at the local highs, but their confirmations are weak. So, the pair is likely going to reach the nearest support, but bulls will probably try to get the 144 Moving Average afterwards. More: https://new.fxbazooka.com/analytics/9069

GBP/USD: bears are trying to turn the tide of battle after the "Double Top" 5/27/2016 The pair has faced a resistance at 1.4738, so we’ve got a “Double Top” pattern, which has been confirmed. Therefore, the market is likely going to decline towards the nearest support at 1.4576. Nevertheless, bulls are still all around, so if we see a pullback from the support, a new upward movement becomes possible in the direction of the last high. We’ve got a local “Flag” on the one-hour chart, so bears are likely going to get a support somewhere between the 89 Moving Average and the level at 1.4585. If sellers be stopped here, there’ll be an opportunity to see bulls’ attempts to return into the market. More: https://new.fxbazooka.com/analytics/9068

EUR/USD: the nearest resistance is waiting for bulls 5/27/2016 Bulls have slowed down after the price reached a resistance at 1.1217. However, the market is likely going to test this resistance once again in the short term. If a pullback from there happens, there’ll be the very special moment for bears to set up a decline toward the last low. As we can see on the one-hour chart, the pair has been moving up and down between a resistance by the 89 Moving Average and a support at 1.1167. Therefore, the market is likely going to get a resistance at 1.1217 during the day, which could be the bulls' last gasp. More: https://new.fxbazooka.com/analytics/9067

AUD/CAD reached sell target 0.9360 5/26/2016 -AUD/CAD reached sell target 0.9360 -Next sell target - 0.9300 AUD/CAD continues to fall after the earlier breakout of the support level 0.9360, which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 0.9360 is likely to accelerate the active minor impulse wave (iii) of the intermediate C-wave from the start of March. The active impulse wave (iii) started earlier this month – when the pair reversed down from the resistance zone surrounding the resistance level 0.9500. AUD/CAD is likely to fall further to the next sell target at the support level 0.9300 (which previously reversed the price in November of 2015, as can be seen below). More: https://new.fxbazooka.com/analytics/9063

USD/JPY: "Three White Soldiers" marching in lockstep towards the last high 5/25/2016 There’s a “Harami” at the local low and on the 89 &34 Moving Averages. This pattern has been confirmed, so the market is likely going to reach the nearest resistance. As we can see on the Daily chart, we’ve got a “Harami” and a “Tower” on the 21 Moving Average, but their confirmation has been canceled by the last bullish “Harami”. Therefore, the pair is likely going to get a resistance on the 34 Moving Average, which can bring any kind of bearish pattern afterwards. As we can see on the one-hour chart, there isn’t any clear bullish pattern so far. We’ve got just huge shadows at the local low and two “Harami” patterns. Under this circumstances, the market is likely going to try break the high of 2014 once again. More: https://new.fxbazooka.com/analytics/9062

EUR/USD: "Tweezers" on the last "Window" brought bulls into the market 5/26/2016 The upper side of the nearest “Window” has acted as a support, so the price is rising. Moreover, we’ve got a “Tweezers” at the last low, so the market is likely going to moving up towards the 21 Moving Average. As we can see on the Daily chart, there’s just a local correction, which has been started right after a “Harami” at the last low. Therefore, the pair is probably going to achieve the 89 Moving Average in the short term. We’ve got a “Harami” and a “Hammer” at the local low, which both have been confirmed enough. So, the market is likely going to get a resistance on the 89 Moving Average line, which can bring back bears into the market. More: https://new.fxbazooka.com/analytics/9061

GBP/USD: "Pennant" urge bulls to move on 5/25/2016 There’s a “Triangle”, which has been broken by the last bullish rally. The price faced a resistance at 1.4695 – 1.4758 afterwards, so we’ve got a flat in progress. Therefore, the market is likely going to get a resistance at the nearest trend line. If a pullback from this line happens, there’ll be an opportunity to see a decline towards a support at 1.4670 – 1.4638. The price has found a resistance at 1.4739, which led to the current flat. Also, there’s a possible “Pennant”, so the pair is likely going to rise towards a resistance at 1.4768 – 1.4785. Considering a possible pullback from this area, bears will probably try to achieve a support at 1.4728 – 1.4695 subsequently. More: https://new.fxbazooka.com/analytics/9058

EUR/USD: bulls are going to reach the channel 5/26/2016 The price has found a support at 1.1124, which brought a “Double Bottom” pattern. Therefore, the market is likely going to reach a resistance at 1.1217, which is near the downtrend line. If a pullback from this level happens, a downward movement towards the nearest support area at 1.1124 becomes possible. We’ve got a “Double Bottom” pattern, which has been confirmed. Despite of a resistance by the 55 Moving Average, the market is likely going to achieve the next resistance on the 89 Moving Average. However, bears will probably try to reach a support at 1.1085 afterwards. More: https://new.fxbazooka.com/analytics/9057

European shares are powered by Greek bailout deal 5/25/2016 On Wednesday, European stocks leapt because Greece’s creditor came to a compromise as for unlocking more bailout funds for the debt-burdened economy. Oil, getting closer to the $50-a-barrel level also gave decent support to European stocks. The Stoxx Europe 600 managed to gain 0.6%, trading at 356.24. In fact, all the sectors edged up, led by the gas and oil group. The pan-European index found itself on track for a second consecutive revenue, after Tuesday’s trading session ended up 2.2% higher. Greece is expected to get up to 10.3 billion euros in new loans if a deal made during Wednesday’s early hours is signed off by the 19 member countries in the European Union. The new payout arose after Eurozone finance ministers as well as the International Monetary Fund agreed that Greece has already achieved the required progress on financial reforms. The funding will definitely save Athens from defaulting on huge debt redemptions to the IMF as well as the European Central Bank already in July. More: https://new.fxbazooka.com/news/6651

Draghi criticism is dangerous and excessive 5/25/2016 The constantly growing personal criticism of Mario Draghi, the European Central Bank governor appears to be excessive and therefore dangerous. That’s what Francois Villeroy de Galhau, the ECB governing council member told in an interview in the Spanish newspaper El Pais, published on Wednesday. Of course, it’s quite normal that there’s debate on monetary policy. However, the personal criticism of Mario Draghi is too much, it’s really dangerous. That was Galhau’s reply to the question regarding German complaints against the European Central Bank. Francois Villeroy de Galhau states that from his point of view it’s quite excessive to talk about politicization of the ECB, which is under the control of this particular country or it has been the major reason for the growth of a particular party in Germany. Apart from that, he warned of the high risks closely connected with Britain escaping from the European Union, pointing out to probable financial turbulence, especially for British financial institutions, to say nothing of tough consequences for the monetary union. https://new.fxbazooka.com/news/6650

German consumer climate keeps rising 5/25/2016 In May, the overall mood of German consumers demonstrated a mixed performance. The consumer climate indicator is actually predicting up to 9.8 points for June, compared with May’s outcome of 9.7 points. While economic expectations as well as the readiness to purchase have both surged, while income expectations have suffered definite losses. Customers are still assured that the German economy is going to keep growing moderately for the next few months. It has already resulted in a minor soar in economic expectations this month. As for the already extremely high readiness to purchase, it has also edged up to a greater level. Though the income expectations indicator appears to be the only index to face a loss, it’s still higher the 50-point mark. In May, economic expectations have kept going up. However, this month’s surge of 2 points appears to be quite moderate, especially compared to the noticeable leap seen in April. The indicator is now at 8.3 points, thus suggesting it has ascended even further above the negative range. More: https://new.fxbazooka.com/news/6649

Foxconn won't sell Sharp's solar power business 5/25/2016 On Wednesday, Taiwan’s high tech giant Foxconn officially announced that it is not going to sell its Sharp Corporation’s solar power business, amid growing worries from the company’s business partners as for a probable closure of this particular Foxconn’s struggling division. The newly- appointed Foxconn’s CEO at Sharp and simultaneously its vice chairman Tai Jeng-wu along with Terry Gou, the company’s founder told that they’re eager to inform their business partners that they’re solely committed to this high tech business, Sharp Corporation. The given statement was addressed to the division’s solar power business partners just to calm all of them down. Foxconn, also dubbed formally Hon Hai Precision Industry Co appears to be the world’s number one multinational contract electronics producer, officially headquartered in New Taipei, Taiwan. Foxconn is on the verge of sealing a $3.5 billion deal close to the end of June to provide a two-thirds stake in Sharp. More: https://new.fxbazooka.com/news/6648

Asian stocks are driven by oil and upbeat US data 5/25/2016 On Wednesday, stocks across Asia edged up, as crude oil prices dared to advance to their highest peaks in more than seven months, while market participants share upbeat sentiment as for the prospect of the Fed’s another interest-rate lift right after the official release of positive economic data. Shares in Hong Kong rose 2.5%, inspired by state-owned energy companies, including PetroChina Co., which grew more thant 4.3%. Energy shares on the benchmark Hang Seng Index acquired 3.4%. Meanwhile, in other regions of Asia, Japanese Nikkei Stock Average soared by 1.7%, Australian S&P ASX 200 gained 1.7%, while Korean Kospi grew 1.3%. The Shanghai Composite Index went up 0.1%. Crude prices, that went up overnight, and kept tacking on revenues during Asia trade, shocked the region’s markets. Financial experts were watching for a probable break above $50 per barrel, a level, which hasn’t been challenged for months yet amid ongoing concerns about global oversupply. More: https://new.fxbazooka.com/news/6647

Aussie rises in Asia amid reviving construction activity 5/25/2016 On Wednesday, the Australian dollar managed to gain after construction data along with the Japanese yen edged up as market participants are turning their attention to the Fed’s upcoming rate lift. In Australia, construction work carried out for the first quarter dipped 2.6%, more than the 1.5% fall observed quarter-on-quarter. The currency pair AUD/USD found itself at 0.7210, demonstrating a 0.39% surge, while USD/JPY was worth 109.96 with a 0.04% sag. As for EUR/USD, this currency pair dared to acquire up to 0.13%, trading at 1.1155 when negotiations on Greece’s debt program finished. The RBA in its May Statement on Monetary Policy told that non-residential building approvals are still at quite low levels. A bit earlier, New Zealand officially reported that the trade balance for April demonstrated a deficit of approximately NZ$3.66 billion year-on-year as well as a surplus of NZ$292 million month-on-month. The currency pair NZD/USD was worth 0.6761, showing a 0.36% soar after the data. More: https://new.fxbazooka.com/news/6646

NYMEX and Brent gain in Asia 5/25/2016 On Wednesday, oil gained in Asia as American industry stock data demonstrated an abrupt sag at the end of last week. In New York, June delivery WTI crude futures acquired 1.36%, trading at $49.28 per barrel. Simultaneously, Brent crude ended up +1.19%, being worth $49.19. The American Petroleum Institute informed that last week crude oil stocks dipped 5.137 million barrels, compared to a sag of 3.3 million barrels as refineries normally push up gasoline output as the summer driving season is coming next week in America along with the Memorial Day weekend. As for distillates stocks, they edged down 2.922 million barrels. Gasoline stocks surged 3.606 million barrels. Market participants are currently paying attention to crude as well as refined products stock data from the US Department of Energy to be released a bit later. Overnight, crude prices dared to rise considerably on Tuesday remaining near 6-month highs, as Iraq's OPEC governor expressed his sincere concerns regarding the nation's slowing output, thus helping to ease supply levels from near-record peaks. More: https://new.fxbazooka.com/news/6645

Gold prices slump in Asia 5/25/2016 On Wednesday, gold prices in Asia edged down, as market participants mostly expect a rate raise by the Fed already at the June monetary policy gathering. In New York, June delivery gold futures sagged 0.31%, trading at $1,225.35 per troy ounce. As for July delivery silver futures, they lost 0.27%, hitting $16.210. Meanwhile, July delivery copper futures managed to gain about 0.05%, trading at $2.068 a pound. On Tuesday overnight, gold went down hitting 1-month minimums, following the US robust new home data, which raised the greenback. Another factor, bringing the number one precious metal down, was a closely-watched survey on dropping sentiment toward a probable Brexit. Gold has already slumped almost 4% for the last three weeks since reaching 15-month peaks around $1,300 an ounce in the beginning of May. Notwithstanding its recent struggles, gold is up by 15% or even more since the beginning of the year. Currently, the most popular precious metal in the world is on pace for one of its most impressive halves of a year in a decade. More: https://new.fxbazooka.com/news/6644

GOLD: short-term goal has not been reached 5/24/2016 On the last week pair continued to tumble to oversold territory. Intersection STD1 with STH4 happened, as well as is fixing price below 0/8 (1250.00). This is enough to talk about further reducing to the level -1/8 (1234.38). Reducing STD1 also indicates a decrease. The unlikely breakdown of the level 0/8 will lead to an increase to the area of merger STD1 with level 1/8 (1265.63). Nevertheless, the achievement of the nearest bearish target at the -1/8 is better. Trade Recommendation: Sell – 1244.00; sl – 1251.00; tp – 1235.00. More: https://new.fxbazooka.com/analytics/9044

EUR/USD: bearish "Pennant" can bring a new low 5/24/2016 There’s a local flat in progress, so the market is likely going to reach a support at 1.1145 afterwards. Moreover, we’ve got a “Pennant” pattern, which indicates that bears are still in the game. However, if a pullback from a support at 1.1145 happens, there’ll be a chance to see an upward correction. We’ve got a flat between a resistance at 1.1230 and a support at 1.1178. Therefore, the pair is likely going to rise during the day. If bulls be stopped by the nearest resistance at 1.1245, bears will probably move on and deliver a new low shortly. More: https://new.fxbazooka.com/analytics/9037