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Forex Analytics EUR/AUD broke pivotal resistance level 1.5200 3 May 2016 By: Dmitriy Chernovolov -EUR/AUD broke pivotal resistance level 1.5200 -Next buy target - 1.5430 EUR/AUD today broke through the resistance area lying between the pivotal resistance level 1.5200 (top of the previous minor B-wave from the start of April) and the 38.2% Fibonacci correction of the previous intermediate ABC correction (2) from February. The breakout of this resistance area continues the active intermediate impulse wave (3) – which started earlier – when the pair reversed up from the major long-term support level 1.4500, which has been reversing the price from December, as can be seen below. EUR/AUD is likely to rise further in the active impulse wave (3) toward the next buy target at the resistance level 1.5430. Strong support now stands at the recently broken price level 1.5200. More: https://fxbazooka.com/en/analitycs/show/8832

Forex Analytics GBP/USD broke resistance zone 3 May 2016 By: Dmitriy Chernovolov -GBP/USD broke resistance zone -Next buytarget - 1.4800 GBP/USD continues to rise following the earlier breakout of the resistance zone lying between the resistance level 1.4650 (which stopped the previous intermediate ABC correction (4) at the start of February, as you can see below) and the 50% Fibonacci correction of the previous downward impulse wave from last November. The breakout of this resistance zone accelerated the active impulse wave 3 – which belongs to the intermediate impulse wave © from the start of April. GBP/USD is likely to rise further to the next buy target at the resistance level 1.4800 (target price calculated for the termination of the active impulse wave 3). More: https://fxbazooka.com/en/analitycs/show/8831

Forex Analytics GBP/USD: "Pennant" strongly supports buyers 3 May 2016 Sergey Logachev The pair entered into a consolidation phase since the downtrend line was broken. The price found a resistance at 1.4692, but it’s likely that the market is going to reach the next resistance at 1.4797 in the short term. There’s a flat in progress, which brought a possible “Pennant” pattern. So, the price is likely going to the next resistance at 1.4692 – 1.4738. If we see a pullback from this area, there’ll be a chance for a downward correction to happen. More: https://fxbazooka.com/en/analitycs/show/8828

Forex Analytics EUR/USD: bulls are inside the "Wedge" 3 May 2016 Sergey Logachev The market has been rising since the upper side of the last “Wedge” was broken. The price faced a resistance at 1.1533, which led to the current local correction. Anyway, it’s likely possible to see an upward movement afterwards, so we should keep an eye on the nearest resistance at 1.1599. There’s a “Wedge” in progress, which is a sign for an intraday correction. At the same time, the main trend remains a bullish one, so the market is likely going to reach a resistance at 1.1599 subsequently. More: https://fxbazooka.com/en/analitycs/show/8827

Forex Analytics Key option levels: May 2-8 2 May 2016 Grigory Zverev EUR/USD o the closest resistance levels: 1.1472; 1.1560; 1.1637; 1.1706 o the closest support levels: 1.1305; 1.1240; 1.1164/25; 1.1053 o the range of upside risks: 1.1472-1.1871 o the range of downside risks: 1.1305-1.0880 Considering EUR/USD, the bulls has managed to turn the tide in their favor. However for growth continuation they need to overcome the number of strong resistances. Medium-term risks belong to bears so far. 1.1472 level excess will predetermine the new wave of growth to the 1.1560 and 1.1637 levels. The currency pair selling should be considered lower than 1.1305 level, with the target points at 1.1240 and 1.1164. GBP/USD o the closest resistance levels: 1.4699; 1.4792; 1.4830; 1.4928; 1.5045 o the closest support levels: 1.4452; 1.4321; 1.4237; 1.4174 o the range of upside risks: 1.4699-1.5130 o the range of downside risks: 1.4452-1.3969 GBP/USD has turned out to be under control of buyers again. 1.4699 level breakout will create a background for the currency pair growth this week. 1.4792 and 1.4830 levels can be used as the buy signals. There is also an alternative scenario – 1.4452 level downside breakout will open a way to 1.4321 and 1.4237. USD/JPY o the closest resistance levels: 106.63; 107.02; 107.94; 108.68 o the closest support levels: 105.94; 105.25; 104.24; o the range of upside risks: 108.68-113.97 o the range of downside risks: 107.94-95.24 USD/JPY has got under the bear pressure. The main objective of the marketmakers is still located on 105.00 level. However 100.00 and 95.00 strikes development suggests the possibility of a deeper decrease. The decrease lower than 105.94 level can be considered as a signal for the currecny pair sale, with the target points at 105.25 and 104.24. Interests of buyers are located higher than 108.68 level. USD/CAD o the closest resistance levels: 1.2637; 1.2757/83; 1.2830; 1.2989/99 o the closest support levels: 1.2503 (?); 1.2444; 1.2355; 1.2261 o the range of upside risks: 1.2503-1.2261 o the range of downside risks: 1.2637-1.2999 USD/CAD has closed another week in a "red zone". However, Call-range strengthening can encourage the development of the ascending correction. 1.2637 level excess will become a good moment for buying; the objectives are 1.2757 and 1.2830 levels. In case of decrease lower than 1.2503 level it is possible to open short positions with the target points at 1.2444 and 1.2355. More: https://fxbazooka.com/en/analitycs/show/8826

Forex Analytics USD/JPY: "Three Methods" have ruined bulls at all 2 May 2016 Galina Svetlova There're two “Three Methods” patterns, so the price found a lodgement under the last “Window”. Despite of the last “Three Methods” is unideal, the market is likely going to reach the nearest support line. As well as we haven’t got any reversal patterns on the Daily chart, today’s candle is probably going to be a bearish one. The price has been falling down since a “Shooting Star” arrived at the last high. We’ve got serious of “Three Methods” patterns, but currently the market is moving in a range of a flat. Anyway, bears are likely going to reach the nearest support, so we should be prepared for a possible bullish correction afterwards. More: https://fxbazooka.com/en/analitycs/show/8824

Forex Analytics EUR/USD: "Window" restrained bearish correction 2 May 2016 Galian Svetlova As much as four “Three Methods” patterns were formed last week, which led to the current bullish price movement. Considering that a “Harami” at the local high hasn’t been confirmed, the market is probably going to reach the nearest resistance. We should keep in mind that it’s likely posible to see any kind of reversal pattern on this level. As we can see on the Daily chart, all last candles are bullish, but if buyers be stopped on the nearest resistance line, there’ll be time for bearish revenge. We’ve got a new “Window”, which already acted as a support, so Friday’s high was broken. It’s interesting that this “Window” wasn’t closed, because the last candles couldn’t close under its lower side. Despite of this very bullish situation, the chance to see any bearish pattern on the nearest resistance is still an extremely high. More: https://fxbazooka.com/en/analitycs/show/8823

Forex Analytics NZD/USD rising inside impulse waves (v) and © 2 May 2016 By: Dmitriy Chernovolov -NZD/USD rising inside impulse waves (v) and © -Next buy target - 0.7050 NZD/USD has been rising sharply in the last few trading sessions inside the minor impulse wave (v), which belongs to the strong intermediate impulse wave © from January. The active impulse wave (v) started earlier – when the price reversed up from the support zone lying between the pivotal support level 0.6860 (former strong resistance level from December and March) and the 38.2% Fibonacci correction of the previous upward impulse from March. NZD/USD is likely to rise further to the next buy target at the resistance level 0.7050 (which stopped the previous minor impulse wave (iii) in April). More: https://fxbazooka.com/en/analitycs/show/8822

Forex Analytics AUD/NZD falling inside impulse waves 3 and (3) 2 May 2016 By: Dmitriy Chernovolov -AUD/NZD falling inside impulse waves 3 and (3) -Next selltarget - 1.0800 AUD/NZD has been falling sharply in the last few trading sessions – breaking through the two consecutive support levels 1.1030 and 1.0960, which were set previously as the sell targets for this currency pair. The breakout of these support levels greatly accelerated the active minor impulse wave 3, which belongs to the intermediate downward impulse (3) from March. Waves 3 and (3) both started earlier - when the price reversed down from the strong resistance zone lying between resistance levels 1.1250 and 1.1340. AUD/NZD is likely to fall further to the next sell target at the support level 1.0800 (target price calculated for the completion of the active impulse wave 3). More: https://fxbazooka.com/en/analitycs/show/8821

Forex Analytics GBP/USD: bulls has stopped by the "Double Top" 2 May 2016 Sergey Logachev The market has been moving in a range of a flat since the downtrend line was broken. It's likely to see a local correction during the day. If the price gets a support at 1.4576 – 1.4513, there'll be a chance for bulls to resume their rally. We’ve got a flat in progress, so the price is likely going to reach a support between the 55 Moving Average and the level at 1.4538 If we see a pullback from this area, buyers will probably feel free to start a new stage of the current upward trend. More: https://fxbazooka.com/en/analitycs/show/8820

Forex Analytics EUR/USD: "Wedge" has worked fine 2 May 2016 Sergey Logachev The market has been rising since the “Wedge’s” upper side was broken. The price faced a resistance at 1.1464, so there’s a chance to see a local downward correction. Anyway, bulls are still have enough power to deliver new highs, so the rally is likely going to be continued towards a resistance at 1.1494 – 1.1533. As we can see on the one-hour chart, the price was rising dramatically during last week. We’ve got a local “V-Top” pattern, which brought a local correction into the market. It’s likely that the pair is going to get a support at 1.1437 – 1.1431. If so, there’ll be an opportunity to see more bullish pressure. More: https://fxbazooka.com/en/analitycs/show/8819

Forex Analytics GBP/USD: more growth ahead? 29 April 2016 Kira Iukhtenko British pound pushed higher on the new week, breaking above the neckline of an inverse “head-and-shoulders” formation. The pair reached the next strong resistance at 1.4670 by Friday (this is the February 2016 high). A short-term bearish correction is likely from here, but in the medium term the pair is expected to extend the upside towards the 1.5000 mark. We maintain a buy-on-rallies strategy. The fundamental picture creates space for more rallies in GBP/USD. The Fed remains dovish and, as a result, the US Dollar growth is limited. Brexit fears are not influencing the market these days as politicians all over the world are trying to persuade the British people to stay in the EU. Be careful, though: pressure on the pound is expected to return at the end of May. The Brexit referendum will take place on June 23. On the new week UK is scheduled to release a bag of April Purchasing Managers' Indices. You should watch the Manufacturing PMI on Tuesday, Construction PMI on Wednesday and Services PMI on Thursday. Note that banks in Great Britain will be closed for a holiday on Monday. More: https://fxbazooka.com/en/analitycs/show/8805

Forex Analytics US Dollar: Fed on hold; wait for NFP 29 April 2016 Kira Iukhtenko As we expected, the Fed decided to leave interest rates unchanged at the April 27 meeting. The Fed’s statement didn’t change significantly and leaves the prospects of the June 15 rate hike pretty uncertain. Of course, the economic releases will matter, but what should we expect from the US central bank? In my opinion, interest rates will likely remain on hold at least until December. The regulator will likely stand pat as additional volatility on the global markets is unwished ahead of the US November election. Hesitant Fed is limiting the upside of the US dollar these days. What’s more, the Bank of Japan also hit the greenback by leaving policy unchanged last week and kicking USD/JPY below 108 yen. As a result, we’ve seen the USD Index falling below 94 points by the end of the week – this is the lowest level since August 2015. Support for the index is seen at 93.15 (May 2015 low). Some pullback could happen here, but the medium US Dollar trend remains bearish for now. On the new week we’ll be watching the April PMI indices in the United States. Strong figure could render some temporarily support to the greenback, but are unlikely to change the whole picture. On Friday, May 6, markets will focus on the April labor market report. The US economy added 215 new jobs in May. More: https://fxbazooka.com/en/analitycs/show/8804

Forex Analytics USD/JPY: bears broken all "Windows" 29 April 2016 Galina Svetlova The price has broken two “Window” in a row, but bears were stopped by the lower “Window”. So, we’ve got a “High Wave” pattern, but it hasn’t confirmed yet. The market is likely going to a local bullish correction and start to falling down afterwards. As we can see on the Daily chart, we haven’t got any reversal pattern, so there’s an open door for an achievement of the nearest support. At the same time, if the price finds a lodgement under the current “Window”, it can act as a resistance subsequently. We've got a “Harami” at the local high, which has been confirmed. There’re two “Three Methods” patterns in a row, so the market is likely going to continue the current decline. More: https://fxbazooka.com/en/analitycs/show/8802

Forex Analytics EUR/USD: "Star" discriminate in favour of bears 29 April 2016 Galina Svetlova We’ve got the fourth “Three Methods” pattern in a row, which led to the new high yesterday. The price reached the upper resistance and formed a “Harami” on this level, which points to a possible beginning of a downward correction. As we can see on the Daily chart, there’re a “Piercing Line” and a “Belt Hold”, so the market was rising until yesterday, when the price met with a resistance. There’re a “Harami” and a “Shooting Star” at the last high. Also, the price formed a pullback from the two upper resistance levels. So, it’s likely to see a bearish correction towards the 34 & 55 Moving Average lines. More: https://fxbazooka.com/en/analitycs/show/8801

Forex Analytics USD/JPY broke support levels 109.00 and 107.70 29 April 2016 By: Dmitriy Chernovolov -USD/JPY broke support levels 109.00 and 107.70 -Next sell target - 106.00 USD/JPY recently broke through the support level 109.00, which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level accelerated the active minor impulse wave 5 (which belongs to the intermediate ©-wave from last November) – which today broke through the next strong support level 107.70 (which stopped the previous minor impulse wave (i) at the start of April, as can be seen below). USD/JPY is expected to fall further in the accelerated impulse waves 5 and © toward the next sell target at the support level 106.00. Sell stop-loss can be placed above the recently broke price level 107.70. More: https://fxbazooka.com/en/analitycs/show/8800

Forex Analytics EUR/USD broke daily down channel 29 April 2016 By: Dmitriy Chernovolov -EUR/USD broke daily down channel -Next buytarget - 1.1460 EUR/USD continues to rise inside the minor impulse wave (iii) – which started earlier, when the pair reversed up from the support zone lying between the support level 1.1220, lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse from the start of March. The active impulse wave (iii) belongs to the impulse wave 3 of the intermediate ©-wave from the start of December. Having recently broke the daily down channel (which has enclosed the previous ABC correction (ii)) - EUR/USD is likely to rise further to the next buy target at the resistance level 1.1460 (which stopped pervious impulse wave (i)). More: [url=https://fxbazooka.com/en/analitycs/show/8799]https://fxbazooka.com/en/analitycs/show/8799[/uR:]

Forex Analytics GBP/USD: bears were hit like a ton of bricks 29 April 2016 Sergey Logachev The pair has been rising dramatically since a “Double Bottom” was formed at the last low. Moreover, the downtrend line was broken yesterday, so bears were hit like a ton of bricks. The market is likely going to get a resistance at 1.4692. If we see any kind of bearish pattern on this level, it’ll be a sign for a downward correction. There’s a “Thorn” at the last low, which led to the current upward movement. We haven’t got any reversal pattern so far that is why we’ll likely can see the pair higher in the short term. The main target is a resistance at 1.4692, which can bring a local correction into the market. More: https://fxbazooka.com/en/analitycs/show/8798

Forex Analytics EUR/USD: bulls has broken the "Wedge" 29 April 2016 Sergey Logachev The price has broken the upper side of the last “Wadge” pattern, which led to the current rise. Despite of a resistance at 1.1397, the market is likely going to move on towards a resistance at 1.1412 – 1.1431. If bulls be stopped here, there’ll be a chance to see a downward correction. As we can see on the one-hour chart, the last downtrend line has been broken. We’ve got a resistance at 1.1398, but it likely brings just a local correction. So, bulls are probably going to reach a resistance at 1.1412 – 1.1431. If a pullback from this area happens, we should keep an eye on a support at 1.1387 – 1.1367 as the next bearish target. More: https://fxbazooka.com/en/analitycs/show/8797

Forex Analytics FTSE 100 reversed from resistance zone 28 April 2016 By: Dmitriy Chernovolov -FTSE 100 reversed from resistance zone -Next sell target - 6160.00 FTSE 100 continues to fall inside the minor corrective wave 2 – which started earlier – when the index reversed down from the strong resistance zone surrounding the major resistance level 6400.00 (which has been reversing the index from September of 2015, as can be seen from the daily FTSE 100 chart below). The aforementioned resistance zone was strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of the previous downward impulse from last May. FTSE 100 is likely to fall further toward the next sell target at the support level 6160.00 (former strong resistance level, which has been reversing the index in March). More: https://fxbazooka.com/en/analitycs/show/8781

Forex Analytics GBP/JPY completed minor ABC correction 4 28 April 2016 By: Dmitriy Chernovolov -GBP/JPY completed minor ABC correction 4 -Next sell target - 155.00 GBP/JPY recently reversed down sharply from the resistance zone located between resistance level 162.30 (which also previously reversed the price at the end of March, as can be seen from the daily GBP/JPY chart below), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp minor impulse wave 3 from the start of February. The downward reversal from this resistance zone stopped the previous minor ABC correction 4. With the daily Stochastic still moving in the overbought area - GBP/JPY can be expected to fall down further toward the next sell target at the support level 155.00. Strong resistance now stands at 162.30. More: https://fxbazooka.com/en/analitycs/show/8780

Forex Analytics AUD/JPY falling inside intermediate impulse wave (3) 28 April 2016 By: Dmitriy Chernovolov -AUD/JPY falling inside intermediate impulse wave (3) -Next selltarget - 81.30 AUD/JPY continues to fall inside the sharp intermediate impulse wave (3), which started earlier, when the pair reversed down from the resistance zone lying between the resistance level 86.00 (which has been reversing the price from the end of January, as can be seen below), 61.8% Fibonacci correction of the previous sharp downward impulse wave from December and the resistance trendline of the wide daily down channel from last year. AUD/JPY is expected to fall further in the active impulse wave (3) toward the next sell target at the support level 81.30 (which stopped previous impulse wave (1) at the start of April). More: https://fxbazooka.com/en/analitycs/show/8779

Forex Analytics GBP/USD: the downtrend line is restraining bears 28 April 2016 Sergey Logachev The price has faced a resistance at 1.4638, which led to form a “Double Top” pattern. The pair was falling down afterwards, but bears has been stopped by a “Thorn”. It’s likely that the market is going to decline towards a support at 1.4473 – 1.4458. If we see a pullback from these levels, the downtrend line will have a chance to be broken. There’s a downward correction in progress, which brought a “Thorn” pattern at the local low. So, the market is likely going to rise towards a resistance at 1.4588 – 1.4620. If a pullback from this area happens, bears will probably try to reach a support at 1.4495 – 1.4469. More: https://fxbazooka.com/en/analitycs/show/8775

Forex Analytics EUR/USD: "Flag" brought a flat into the market 28 April 2016 Sergey Logachev The price has been moving up and down between a resistance at 1.1364 and a support at 1.1269. Also, there's a possible downward “Wadge”, so the market is likely going to reach the 55 Moving Average. If we see a pullback from this line, bulls will have an opportunity to break the “Wadge’s” upper side. There's a flat in progress under the local downtrend line. It's likely that the market is going to reach a resistance at 1.1339 – 1.1348 in the short term. Considering a possible pullback from this area, we should keep an eye on the nearest support at 1.1295 as a possible bearish target. More: https://fxbazooka.com/en/analitycs/show/8774

Forex Analytics Forex trading plan for April 28 By Elizabeth Belugina A very important event for the US dollar is due on Wednesday: the results of the Federal Reserve’s meeting will be released at 18:00 GMT. The change in the central bank’s interest rate is very unlikely, so the main thing to watch will be the Fed’s statement. There are some more hawkish members within the Fed, so the central bank may prepare ground for a potential rate hike this summer. Yet, the central bank will probably try to sound balanced. The main thing to watch is whether the phrases about “unstable situation at global financial markets” and “risks for global economy as a whole and the US economy in particular” remain in the text of the statement. If they do, the US currency will remain under negative pressure. If they don’t, the greenback will gain versus other majors. Later on Wednesday watch Japanese inflation and retail sales figures: the forecasts are negative. There’s also chance that the Bank of Japan will ease policy on Thursday. You can learn more about trading on the Japanese central bank’s decision here. The meeting of the Reserve Bank of New Zealand will take place on Wednesday night. Support for NZD/USD is at 0.7800/7780, while resistance is at 0.6900/50. Resistance for EUR/USD lies in 1.1350/1.1375 area, while support is at 1.1215/1.1190. The advance of GBP/USD stalled as British economic growth pace decline in Q1. Support is at 1.4550 and 1.4500. Resistance is at 1.4640/70. AUD/USD fell below 0.7600 as Australian CPI unexpectedly contracted in Q1. This revived expectations of potential RBA rate cut next week. Watch support at 0.7560 ahead of 0.7500 and 0.7400. Resistance is at 0.7690. Find more analysis for the major currency pairs in the video. More: https://fxbazooka.com/en/analitycs/show/8772