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USD/JPY: on the cloud lining 5/24/2016 Yesterday's trading on USD/JPY had a downward dynamic. The pair had lost approximately1 figure during the day having decreased to the upper limit of four-hour Ichimoku cloud. Tenkan-Sen and Kijun-Sen responded promptly to the decrease by annuling the active golden cross. However, such a decrease is still rather correctional due to the bullish trend of Ichimoku Cloud. Hence, market growth recovery remains quite possible. The only thing bulls need to do for it is to take hold above Senkou Span A. Technical Levels: Support – 109.00; resistance – 109.80, 110.10. Trading recommendations: 1. Buy — 109.00/20; SL — 108.80; TP1 — 109.80; TP2 — 110.10. More: https://new.fxbazooka.com/analytics/9036

AUD/USD: bears' determination does not run low 5/24/2016 During the yesterday's trading session the currency pair AUD/USD has approached its recent minimum of 0.7180 again. So far it is obvious that the 72nd figure constrains the long-term sellers from starting a new round of sales, but panic in the market is obviously felt and, in case it starts to develop, we will be able to see the pair one figure lower. On a day timeframe there is strong level in the area of the 71st figure. Therefore, sales can be continued up to this mark. Four-hour timeframes are favorably disposed to bears, supporting them by the dead cross created by Tenkan-sen and Kijun-sen lines, and also with the help of the descending Ichimoku cloud, that has a powerful range. For bulls with the best will in the world (if it appears) it will be difficult to develop the downtrend just like that. Technical levels: support – 0.7180, 0.7100; resistance – 0.7220. Trade recommendations: 1. Sell — 0.7200; SL — 0.7220; TP1 — 0.7130; TP2 — 0.7100. More: https://new.fxbazooka.com/analytics/9035

AUD/USD: bulls remain hesitant 5/23/2016 Daily. AUD/USD fixed below the Ichimoku cloud last week.Bulls have gently tested the resistance, created by the lower boundary of the cloud and are no longer trying to reverse the market to the upside. The pair lsipped to 0.7170 by the end of the week. However, strong support is clustered at these levels. Note that the market is strongly oversold. This could make the pair retrace into the Tenkan-Kijun channel. Chart. Daily AUDUSD H4. The downtrend is also clearly seen on the 4-hour chart. After a test of the lower band of the Cloud, Tenkan and Kijun lines formed another bearish cross, while the Cloud extened the range to the downside.. The market is now trading inside the Tenkan-Kijun range. A breakout higher or lower will set further direction to trade. Chart. H4 AUDUSD More: https://new.fxbazooka.com/analytics/9030

EURUSD: euro is losing momentum again 5/23/2016 Daily. European currency keeps floating. Last week, bears managed to get into the day-time Ichimoku cloud, regardless rather powerful support from the above line, approximately located at 1.1260. At the end of the week, the currency pair shifted the 2-month minimums to 1.1170, which hardly couldn’t have influenced the technical part: Tenkan-Sen and Kijun-Sen lines formed a death cross. This is why the question of uptrend movement renovation is now thrown into sharp relief. We do not exclude the possibility of short-term consolidation inside the cloud. Chart. Daily EUR/USD H4. Downtrend movement continues to progress. As it was reported previously, in this particular case, the Ichimoku indicator has already changed the direction two weeks ago. Last week trades, remarked by falling trend, made Tenkan and Kijun lines figure a yet another death cross and space the cloud out, stretching it downwards. That is to say, the bears are apparently dominating on the market yet. That is why, after carrying out an analysis of Kijun line (1.1260/70) we expect a change of local lower limits. Chart. H4 EUR/USD More: https://new.fxbazooka.com/analytics/9028

USD/JPY: "Tower" signalizes a beginning of bearish correction 5/23/2016 There’s an “Engulfing” at the last high, which has been confirmed. The last candles are bearish, so the market is likely going to reach the 34 Moving Average as the nearest support. If a pullback from this line happens, bulls will probably try to achieve the last high. As we can see on the Daily chart, there’re a “Harami” and a “Tower”, but their confirmation isn’t enough. Therefore, today’s candle is likely going to be black. We’ve got a “Harami” at the last high, but the current candle hasn’t closed under the nearest resistance. Previously, a “Three Methods” was formed, so the pair achieved the 89 Moving Average. If a pullback from this line happens, bulls will have a reason to move on. More: https://new.fxbazooka.com/analytics/9027

EUR/USD: bulls and bears continue their battle near the "Window" 5/23/2016 There’s a “Harami” at the last low, which has been confirmed. The nearest “Window” and the 21 Moving Average are acting as a support. Therefore, the market is likely going to reach the lower “Window” in the short term. As we can see on the Daily chart, we’ve got an “Engulfing”, but its confirmation isn’t enough. So, the middle of the last huge black candle will probably act as a support, which could be a starting place of the next bearish offensive. We’ve got a local correction in progress. Previously, an “Engulfing” and a “Tweezers” have been formed. Considering a “Belt Hold” pattern, the market is likely going to reach the 89 Moving Average during the day. More: https://new.fxbazooka.com/analytics/9026

GBP/USD: bears using the "Triple Top" are trying to return into the game 5/23/2016 The price has found a support on the 34 Moving Average, which led to form a “V-Bottom” pattern. Therefore, the market is likely going to achieve a resistance at 1.4576. If bulls run out of steam on this levels, there’ll be an opportunity to see a decline towards a support at 1.4425. There was a flat between a resistance at 1.4669 and a support at 1.4545, which finally has been ended by dramatically fast bearish movement. However, a “V-Bottom” was formed afterwards, so we’ve got a local upward correction in progress. So, the market is likely going to test a resistance at 1.4545 - 1.4559. If a pullback from these levels happens, bears will probably return to the market. More: https://new.fxbazooka.com/analytics/9025

EUR/USD: "Pennant" brings bears through the new low 5/23/2016 There’s a “Thorn” pattern, which led to the current local correction. Therefore, we’ve got a possible “Pennant” pattern, so the market is likely going to reach a support at 1.1145. If a pullback from this level happens, there’ll be a chance to see another upward correction. As we can see in the one-hour chart, the last price movement could turn out like a “Pennant”. So, the lower side of this pattern is likely going to be broken soon. Thereby, we should look closely at a support at 1.1145, because bears will probably train off on this level. More: https://new.fxbazooka.com/analytics/9024

US Dollar: forecast for May 23-29 The FOMC minutes released on Wednesday changed the market attitude to the greenback. The document revealed that the Fed’s members were discussing the June rate hike on their April meeting. Combined with the hawkish officials’ comments and improved US economic data, all that increased the market expectations for a June hike from 4% to 30%. We still believe that the Fed’s hike is unlikely in June, but comments the press-conference could easily deliver hawkish comments. These expectations are likely to push the greenback higher in the coming weeks. On the new week watch the April durable goods orders on Thursday. Orders for items meant to last at least three years rose by 1.3% in March after a 3.1% drop in February. On Friday we’ll focus on the preliminary Q1 GDP. The advance reading showed a 0.5% growth in the first three months of 2016. Economists believe that the reading could be revised to the upside. More: https://new.fxbazooka.com/analytics/9022

Gold prices stand still near 3-week trough 5/20/2016 On Friday, gold stood still, hovering near a three-week trough because the perspectives of June’s rate increase in America and a strengthening greenback kept weighing on the number one precious metal. In New York, June delivery gold futures stuck to $1,255.35. The June contract concluded Thursday’s trading session 1.54% lower, trading at $1,254.80 per ounce. Futures were about to gain support at $1,247.50, Thursday’s minimum and resistance at $1,276.40, the highest peak from May 18. Gold prices were affected after the Fed’s minutes unveiled on Wednesday. As follows from the minutes, June’s rate surge would be absolutely appropriate if the US economy demonstrated positive signs in the second quarter. Apart from that, on Thursday, William Dudley, New York Federal Reserve President told that American economy could be strong enough to justify a rate hike in June or July. Gold appears to be extremely sensitive to moves in American interest rates, as a surge would increase the opportunity cost of holding non-yielding assets. More: https://new.fxbazooka.com/news/6623

Japan and USA rift over yen devaluation 5/20/2016 A soaring yen is currently pushing Tokyo and Washington into another standoff regarding exchange rates, driving anti-trade fervor in America and generating broader troubles in rather a vulnerable global economy. Japanese companies concerned with dropping exports and lower revenues are applying pressure on policy makers to devalue the Japanese yen. As for the USA, in this country companies and unions are afraid that devaluation will generate job losses as well as factory closures. American economists as well as officials don’t want a scheduled yen intervention as they suggest it could spark a chain reaction of currency depreciations all over the world, including China. This week Jacob Lew, Treasury Secretary is going to meet his counterparts from Japan as well as other G7 countries in Sendai. The rift appears to be an evident sign of broader weakness in the world economy. Most political leaders are struggling to boost their national economies, dependent on low interest rates, while more and more backlashes over trade arose. More: https://new.fxbazooka.com/news/6625

Germany enjoyed record foreign investment in 2015 5/20/2015 In 2015, Germany managed to attract about 6.2 billion euros in foreign investment because the total number of new investors hit an all-time peak, mostly due to surging interest from China. Last year in Germany, foreign investors started up to 1,912 new projects, up 60% compared to 2014, as Germany Trade & Invest states. In 2015, the overall value of projects almost doubled, from 3.2 billion euros in 2014, and foreign investment generated at least 30,000 new jobs in Europe's biggest economy last year, according to GTAI. Germany’s currently scoring with its large market, steady general framework as well as its positive domestic economic activity. China appeared to be the largest single investor for a second straight year, considering its 260 fresh projects, followed by the USA with its 252 as well as Switzerland, boasting 203. The figures, excluding mergers as well as acquisitions, point out to projects currently on the ground. Apart from that the GTAI counted up to 413 foreign-led M&A deals last year. Those were dominated by US companies, with UK companies in second place. Notwithstanding fears of a soar of Chinese takeovers, they accounted only for eight of the foreign-led M&A deals. More: https://new.fxbazooka.com/news/6626

European stocks surge as crude prices rise 5/20/2016 On Friday, European stocks edged up, making their way towards weekly advance as market participants’ appetite for risk recovered after a sell-off driven by worries regarding the upcoming US interest rate hike. The StoXX Europe 600 went up 1.2%, trading at 337.79. The benchmark was led by energy stocks as well as financial and basic materials shares. Unicredit SpA managed to grow 5.1% after posts that the Italian lender considers a possibility of selling some of its assets. On Thursday, the pan-European index dipped 1.1% after the minutes from the Fed’s gathering, which disclosed the policy makers’ readiness to increase rates in June. On Friday, energy stocks earned as crude prices kept rebounding from a one-week minimum. Energy producer Tullow Oil PLC dared to grasp 4.6%, while SBM Offshore NV surged 1.5%. Oil is definitely shooting back higher. The number one commodity prompted to settle the jitters on the equity markets. Maybe the market requires something more convincing to justify the upcoming rate hike in June. More: https://new.fxbazooka.com/news/6627

USD/JPY: "Harami" led to the bearish correction 5/19/2016 There’s a local correction in progress along the 89 Moving Average. Therefore, the market is likely going to test the nearest support. If a pullback from this line happens, bulls will probably try to deliver a new high. As we can see on the Daily chart, the last “Harami” hasn’t been confirmed, so the price is rising. Under this circumstances, today’s candle is likely going to be bullish. The price is moving near the important high, which was formed in 2014. There’s a “Harami”, but its confirmation isn’t enough. So, the pair is likely going to get a support on the 21 Moving Average. More: https://new.fxbazooka.com/analytics/9009

GBP/CHF broke pivotal resistance level 1.4290 5/19/2016 GBP/CHF broke pivotal resistance level 1.4290 Next buy target - 1.4600 GBP/CHF recently broke through the resistance zone lying between the pivotal resistance level 1.4290 (which stopped the previous waves ( and 2 in February and March) and the 61.8% Fibonacci correction of the previous intermediate downward impulse wave © from February. The breakout of this resistance zone accelerated the active minor impulse waves 3 and (3) – both of which belong to the primary impulse wave Ⓒ from the start of April. GBP/CHF is expected to rise further to the next buy target at the resistance level 1.4600 (target price calculated for the completion of the active impulse wave (3)). More: https://new.fxbazooka.com/analytics/9011

Dow Jones Industrial Average broke support level 17540.00 5/19/2016 -Dow Jones Industrial Average broke support level 17540.00 -Next sell target - 17300.00 Dow Jones Industrial Average has been falling in the last few trading sessions inside the intermediate impulse wave (3) – which earlier broke through the support level 17540.00, which stopped the previous intermediate impulse wave (1) at the start of this month. The active impulse wave (3) belongs to the primary downward impulse wave ③, which started in the middle of April – when the index reversed down from the long-term resistance level 18140.00 (previous monthly high from July of 2015). The breakout of the support level 17540.00 is likely to intensify the bearish pressure on this index. Dow Jones Industrial Average is likely to fall to the next support level 17300.00. More: https://new.fxbazooka.com/analytics/9012

EUR/USD reached sell target 1.1300 By: Dmitriy Chernovolov 5/18/2016 EUR/USD reached sell target 1.1300 Next sell target - 1.1220 EUR/USD continues to fall after the earlier breakout of the support zone lying between the support level 1.1300 (previous sell target set in our earlier forecast for this currency pair) and the 38.2% Fibonacci correction of the preceding sharp upward impulse wave from the start of March. The breakout of this support zone is likely to accelerate the active minor impulse wave 3 - which belongs to intermediate impulse wave (3) from the start of May. EUR/USD is expected to fall further toward the next sell target at the support level 1.1220 (which stopped the previous minor correction (iv) in April, as can be seen below). More: https://new.fxbazooka.com/analytics/9001

EUR/USD: "Window" has been waiting for bears 5/18/2016 There’s a “Harami” on the 89 Moving Average, which led to the current decline. The main bearish target is the nearest “Window”, which is almost reached. It’s likely possible to see bullish patterns on this “Window”. If so, the market is likely going to get a resistance on the 144 Moving Average. As we can see on the Daily chart, there’s a “Three Methods” pattern, so bears will likely try to deliver a new low, but an upward correction becomes possible afterwards. We’ve got a “Harami” on the 55 Moving Average, which has been confirmed enough. At the same time, there’s an “Inverted Hammer” at the local low, which points to a possible upward correction. More: https://new.fxbazooka.com/analytics/9000

GBP/USD: "V-Top" sends bulls back home 5/18/2016 The pair has found a resistance at 1.4515, which brought a “V-Top” pattern, so the price reached a support at 1.4425 afterwards. Therefore, the market is likely going to falling down towards a support area at 1.4343 – 1.4305. Then an upward correction becomes possible, but only if a pullback from the area happens. As we can see on the one-hour chart, the price faced an intraday support at 1.4436, which led to the current local flat. Anyway, bears are likely going to move on, so we should keep an eye on a support at 1.4374 as the next sellers’ target. More: https://new.fxbazooka.com/analytics/8996

EUR/USD: "Double Top" brings back bears to life The price has faced a support, which led to the local flat under the 89 Moving Average. Therefore, the market is likely going to reach the next support at 1.1217 in the short term. However, if a pullback from this level happens, an upward correction becomes possible. There’s a “Double Top” pattern at the last highs, which has been confirmed. The price is trying to break the last minimum. So, the market is likely going to achieve a support area between the levels 1.1255 – 1.1245. If bears be stopped here, bulls will probably deliver a local correction. More: https://new.fxbazooka.com/analytics/8995

GBP/USD: Pound requires attention GBP/USD currency pair, after breaking through and reaching a favorable level on 4-hour timeframe, isn’t managing to succeed in further going for the recovery. The major technical factor, having influence on the market, is a rather strong resistance encountered in the range of 1.4530. Yesterday, the bulls tried to move towards the level once again, however no success has followed. In this regard, the rate has rolled back to Ichimoku cloud and Tenkan, Kijun lines, keeping the prices at 1.4430. It’s obvious, the current level is presently critical. If bulls manage to restrain it, we might expect the rise upwards 1.4610-1.4650. However, the most expectedly, the movement is to tend to go in favor for the bears – hitting 1.4430 and aiming at reaching 1.4260 in a mid-term. Technical levels: support – 1.4365, 1.4430; resistance – 1.4530. Recommendations on trade: 1. Buy — 1.4460; SL — 1.4440; TP1 — 1.4530; TP2 — 1.4610. 2. Sell — 1.4420; SL — 1.4440; TP1 — 1.4360; TP2 — 1.4320. More: https://new.fxbazooka.com/analytics/8994

EUR/USD: euro is on the support During yesterday’s trading session, the EUR/USD pair consolidated along the four-hour-Tenkan-sen. Due to the market’s settling after strong sales late last week, the short-term traders took their profit. However, the bears’ attitude is obviously getting more long-term as evidenced by the downward dynamic this morning. The main Forex currency pair has decreased its two-week lowest record to 1.1275. The Ichimoku indicator points at the bearish tendency as well. Tenkan-Sen and Kijun-sen add to the dead cross effect while the Ichimoku cloud extends down. Next strong support testing today is likely to be near 1.1240 / 60; it may get back to Tenkan-sen afterwards. Technical levels: support – 1.1240 / 60; resistance – 1.1300. Trading recommendations: off-market. More: https://new.fxbazooka.com/analytics/8993

Forex Analytics USD/JPY: the insuperable "Window" 16 May 2016 The last “Window” is acting as a strong support as well as the 89 Moving Agerage line. The market is likely going to reach the nearest resistance in the short term. As we can see on the Daily chart, the last “Harami” hasn’t been confirmed yet. So, today’s candle is likely going to be bullish. We’ve got three pullbacks on a row from the upper resistance line. The last one brought a “Shooting Star” pattern, so there was a decline afterwards. Therefore, the market is likely going to has a support on the “Window” once again. More: https://fxbazooka.com/en/analitycs/show/8973

Forex Analytics GBP/NZD reversed from resistance zone 16 May 2016 By: Dmitriy Chernovolov -GBP/NZD reversed from resistance zone -Next sell target - 2.1400 GBP/NZD continues to decline – following the earlier downward reversal from the resistance zone lying between the strong resistance level 2.1400 (which stopped the previous waves (iv) and (a)), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse wave from the start of January, as can be seen from the daily GBP/NZD chart below. The downward reversal from this resistance zone stopped the ©-wave of the active minor ABC correction (ii) from April. Given the strength of the resistance level 2.1400 - GBP/NZD is likely to fall further to the next sell target at the support level 2.1000. Sell stop-loss can be placed above the resistance level 2.1400. More: https://fxbazooka.com/en/analitycs/show/8972

Forex Analytics CAD/CHF reversed from support zone 16 May 2016 By: Dmitriy Chernovolov -CAD/CHF reversed from support zone -Next buy target - 0.7590 CAD/CHF has been rising in the last few trading sessions – following the earlier upward reversal from the support zone lying at the intersection of the pivotal support level 0.7440 (former resistance level from March, which also earlier reversed the pair in April) and the 61.8% Fibonacci correction of the previous sharp intermediate ©-wave from last month. The upward reversal from the aforementioned support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing. CAD/CHF is expected to rise further to test the resistance level 0.7590 (which reversed last week the earlier intermediate ABC correction (2)). More: https://fxbazooka.com/en/analitycs/show/8971