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Forex Analytics EUR/USD: "Engulfing" brought correction to naught 8 April 2016 Galina Svetlova The current flat is going on, which has a support by the 21 Moving Average. There's a “Harami” at the local low, so the market is likely going to reach the nearest resistance line. As we can see on the Daily chart, a reversal “High Wave” and a “Hanging Man” haven’t confirmed yet, so today’s candle is probably going to be a white one. There’re an “Engulfing Bearish” and a “Belt Hold” on the nearest resistance line. Therefore, an “Engulfing Bullish” was formed on the 89 Moving Average. Under this circumstances, the current flat is likely going to be continued. More: https://fxbazooka.com/en/analitycs/show/8544

Forex Analytics EUR/USD: series of "V" tops 8 April 2016 Sergey Logachev The main trend remains bullish. There's a flat in progress above the upper side of “Triangle” pattern. The market is likely going to decline towards a support at 1.1326 in the short term. If a pullback arrives, then bulls will probably try to reach a resistance at 1.1437. As we can see on the one-hour chart, the last upward channel has been broken, but then the price got a support at 1.1356, so bears couldn't do anything. At the same time, it's likely to see a local downward movement towards a support at 1.1341 – 1.1326 during the day. Considering a possible pullback from this area, we should keep an eye on a resistance at 1.1376 – 1.1409. More: https://fxbazooka.com/en/analitycs/show/8542

Forex Analytics Trading plan for April 8 By Kira Iukhtenko USD/JPY was the major mover on Thuesday, plummeting below 108.00. The recent nearish trend was strengthened by the dovish FOMC meeting minutes, released on Wednesday. We maintain a bearish view for the pair, targeting 100 yen in the medium term. Intermediate support is seen at 107.30 and 105.10. Bullish correction is somewhere close, but we’d recommend using it for opening new selling positions. Meanwhile, EUR/USD remains rather resilient despite the dovish ECB minutes released today. It holds in a sideways 1.1450/1.1340 range. Pay attention: we are close to a strong resistance at 1.1500, so buying at the current levels seems to be risky. At the same time, the medium-term prospects of the pair remain upbeat. GBP/USD found some support at 1.4050, but still remains under bearish control. Watch the UK manufacturing production data on Friday – the forecast is downbeat, so it could trigger a new wave of GBP selling. We recommend going short on a break below 1.4050. AUD/USD holds below the former March support line. A break below the 0.7475 support could confirm a double top formation and open the way to our next target at 0.7380. More: https://fxbazooka.com/en/analitycs/show/8537

Forex Analytics EUR/JPY: sell target – 122.10 7 April 2016 By: Dmitriy Chernovolov -EUR/JPY falling inside impulse wave (5) -Next sell target – 122.10 EUR/JPY has been falling in the last few trading sessions inside the sharp indeterminate impulse wave (5) – which started earlier - when the price reversed down from the resistance zone lying between the resistance level 128.00, upper daily Bollinger Band, and the 61.8% Fibonacci correction of the previous sharp downward impulse from the end of January. The price earlier broke the daily Rising Wedge from February and the support level 124.00 – which further accelerated the active impulse wave (5) EUR/JPY is likely to fall to the next sell target at the support level 122.10 (which stopped the previous sharp intermediate impulse wave (3) in February). More: https://fxbazooka.com/en/analitycs/show/8533

Forex Analytics EUR/USD: "Belt Hold" throw bulls for a loop 7 April 2016 Galina Svetlova We've got a “Doji”, an “Engulfing” and a “Harami” patterns at the last highs, but their confirmation hasn't formed yet. Also, there’s a bullish “Harami” at the local low. The market is likely going to reach the nearest support line, which has effectively stopped bears earlier. So, if it happens for the second time, bulls will be unstoppable. As we can see on the Daily chart, there’re a “High Wave” and a “Hanging Man”, but they both haven’t confirmed. So, the only thing bears can deliver at this moment is just a movement towards to the nearest support. There's a “High Wave” on the 89 Moving Average. At the same time, we've got an “Engulfing” and a “Belt Hold” at the local high. So, the pair is likely going to get a support on the 89 Moving Average once again. More: https://fxbazooka.com/en/analitycs/show/8530

Forex Analytics EUR/USD: "Belt Hold" throw bulls for a loop 7 April 2016 Galina Svetlova We've got a “Doji”, an “Engulfing” and a “Harami” patterns at the last highs, but their confirmation hasn't formed yet. Also, there’s a bullish “Harami” at the local low. The market is likely going to reach the nearest support line, which has effectively stopped bears earlier. So, if it happens for the second time, bulls will be unstoppable. As we can see on the Daily chart, there’re a “High Wave” and a “Hanging Man”, but they both haven’t confirmed. So, the only thing bears can deliver at this moment is just a movement towards to the nearest support. There's a “High Wave” on the 89 Moving Average. At the same time, we've got an “Engulfing” and a “Belt Hold” at the local high. So, the pair is likely going to get a support on the 89 Moving Average once again. More: https://fxbazooka.com/en/analitycs/show/8530

Forex Analytics EUR/USD: the flat is rich of candle patterns 6 April 2016 Galina Svetlova There’re a “Doji” and an “Engulfing” at the last high, which have been confirmed enough. So, the market is likely going to reach the nearest support line. As we can see on the Daily chart, we’ve got a confirmation for the previously formed “High Wave” and “Hanging Man”, so today’s candle has a reason to be a black one. The current flat is going on, which already brought a “Harami” and a “High Wave”. The pair is likely going to get a support on the 89 Moving Average. If so, bulls will have a chance to return to the market. More: https://fxbazooka.com/en/analitycs/show/8520

Forex Analytics CHF/JPY: sell target – 114.00 6 April 2016 By: Dmitriy Chernovolov -CHF/JPY falling inside impulse waves 5 and (3) -Next sell target – 114.00 CHF/JPY has been falling sharply in the last few trading sessions inside the minor impulse wave 5, which belongs to the intermediate impulse wave (3) from the middle of October. The active impulse wave 5 started earlier – when the pair reversed down from the resistance zone lying between the resistance level 117.30, 50% Fibonacci correction of the preceding downward impulse from December and the upper resistance trendline of the daily down channel from June of 2015. Having recently broken below the support level 116.00 - CHF/JPY is likely to fall toward the next sell target at the support level 114.00. More: https://fxbazooka.com/en/analitycs/show/8519

Forex Analytics GBP/JPY: sell targets - 155.00 and 152.50 6 April 2016 By: Dmitriy Chernovolov -GBP/JPY broke daily Triangle -Next sell targets - 155.00 and 152.50 GBP/JPY continues to fall inside the minor impulse wave 3, which earlier broke through the support zone lying at the intersection of the support trendline of the daily Triangle from February and the support level 158.60 (which stopped the previous minor impulse wave 1, as can be seen from the daily GBP/JPY chart below). The breakout of this support zone intensified the bearish pressure on this currency pair – accelerating the active impulse waves 3 and (5). GBP/JPY is likely to fall to the next sell target at the nearby support level 155.00 (low of the previous intermediate impulse wave (3)) – the breakout of which can lead to further losses toward 152.50. More: https://fxbazooka.com/en/analitycs/show/8518

Forex Analytics GBP/USD: bears poking fun at bulls in the Pennant 6 April 2016 Sergey Logachev The price has been falling down since a “Triple Top” arrived at the last high. We’ve got a support at 1.4117, but this is likely not the end of the current bearish rally. The market is probably going to get a support at 1.4052. If so, bulls will have an opportunity to achieve a resistance at 1.4170. As we can see on the one-hour chart, the up trend line has been broken. There’s a possible “Pennant” pattern, so the pair is likely going to reach a support at 1.4056. If a pullback appears from this level, then it’ll be a chance to see at least a local correction. More: https://fxbazooka.com/en/analitycs/show/8515

Forex Analytics EUR/USD: bulls have a rest in a range of "Triangle" 6 April 2016 Sergey Logachev The main trend on the four-hour chart is a still bullish. The price has broken “Triangle” pattern’s upper side and reached a resistance at 1.1460 afterwards. So, we’ve got a local consolidation above the current trend line. The market is likely going to get a support at 1.1341 – 1.1334. If so, bulls will have a chance to resume their rally towards a resistance at 1.1437. There’s a flat in progress between the levels 1.1409 and 1.1334. Moreover, the current price movement is likely going to form a “Triangle” pattern. So, its lower side can act as a support. If we see a pullback from it, then a rise will be on the table once again, so we should keep an eye on a resistance area at 1.1409 – 1.1437. More: https://fxbazooka.com/en/analitycs/show/8514

Forex Analytics Forex trading plan for April 6 By Kira Iukhtenko [Video] [/Video] US Dollar extended recovery on Tuesday following the relatively upbeat US labor market figures on Friday. On Wednesday, the market will focus on on the FOMC meeting minutes release фе 18:00 GMT on Wednesday. As for the EUR/USD currency pair, we could see more weakness here tomorrow. Selling below 1.1350 is good trading idea. However, in the medium term we still remain bullish for the European currency. GBP/USD remains under bearish pressure, but the market is strongly oversold now. We expect a temporarily pullback to 1.4200 before a new wave of weakness will follow. The pair targets the 1.4070/50 support area this week. As for the economic calendar, watch the UK housing price indx tomorrow. USD/JPY was a big mover on Tuesday, smashed by a wave of risk aversion. A new selling impulse followed in the American session. Break below 110.00 yen (channel support) will triger a stronger selling impulse for the pair. More: https://fxbazooka.com/en/analitycs/show/8508

Forex Analytics USD/JPY: "Three Methods" put new heart into bears 5 April 2016 Galina Svetlova The market has been declining since an “Evening Star” was formed at the last high. Moreover, there’s a “Three Methods” pattern, which led to the more bearish pressure. So, it’s likely that the price is going to falling down until any bullish pattern arrives. As we can see on the Daily chart, all last candles are bearish and we don’t have any reversal pattern so far. Therefore, today’s candle is probably going to be a black one. We’ve got a “High Wave” and an “Inverted Hammer” at the local low, but they haven’t been confirmed yet. It’s likely to see a bullish correction during the day. If the price faces a resistance on the 21 Moving Average, then it’ll be an opportunity to see a new low shortly. More: https://fxbazooka.com/en/analitycs/show/8507

Forex Analytics USD/JPY: sell target - 109.00 5 April 2016 By: Dmitriy Chernovolov -USD/JPY broke pivotal support level 111.00 -Next sell target - 109.00 USD/JPY recently broke the pivotal support level 111.00 (which has been reversing the price from the middle of February, as can be seen below). The breakout of this support level is likely to accelerate the active minor impulse wave 5 – which started earlier - when the pair reversed down from the lower trendline of the daily down channel from last June (acting as resistance now, after it was broken by the previous minor impulse wave 3 in February). USD/JPY is likely to fall in the active minor impulse wave 5 toward the next sell target at the support level 109.00. Strong resistance now stands at 111.00. More: https://fxbazooka.com/en/analitycs/show/8502

Forex Analytics GBP/USD: the trend line is waiting for bears 5 April 2016 Sergey Logachev The pair was rising the last two days since a “Double Bottom” arrives at the local low. Finally, the market faced a resistance at 1.4325, which led to the current decline. It’s likely to see a support at the local up trend line. If so, the price will probably try to reach a resistance area at 1.4305 – 1.4342. The price has formed a “V-Top” pattern and reached a support at 1.4241 afterwards. So, the market is likely going to test the next support area at 1.4190 – 1.4170. Considering a possible pullback from this area, bulls will have an opportunity to achieve a resistance at 1.4259 – 1.4283. More: https://fxbazooka.com/en/analitycs/show/8497

Forex Analytics EUR/USD: bearish correction through the "Thorns" 5 April 2016 Sergey Logachev The main trend on the four-hour chart is a bullish one. At the same time, we’ve got a flat in progress under the nearest resistance at 1.1409. It’s likely to see a bearish movement towards a support at 1.1341 during the day. If a pullback arrives afterwards, then the market will have a chance to reach a resistance area at 1.1436 – 1.1460. We’ve got a flat in progress between the 34 Moving Average and the the local resistance at 1.1409. The price is likely going to achieve a support area near the 89 Moving Average and the current trend line. Therefore, if sellers be stopped here, then buyers will probably try to reach a resistance area at 1.1436 – 1.1460. More: https://fxbazooka.com/en/analitycs/show/8496

Forex Analytics Forex trading plan for April 5 4 April 2016 By Elizabeth Belugina The US dollar’s decline was tempered by good economic data released on Friday, but the dovish words by Janet Yellen still affect American currency. On Tuesday pay some attention to US trade balance at 12:30 GMT and ISM non-manufacturing PMI at 14:00 GMT. EUR/USD keeps consolidating around 1.1380 after its thrust to the upside at the end of March. There was news about tensions between Greece and the IMF, though the impact on the euro wasn’t high. The euro area’s Sentix investor confidence index increased marginally to 5.7 from the previous 5.5, but below market's expectations of 6.9. Producer prices declined more than forecast. On Tuesday Germany will release factory orders data at 06:00 GMT (good forecast). All in all, there are buyers for the euro. Increase above 1.1440 should open the way to 1.1500. Support is at 1.1355 and 1.1300. The Reserve Bank of Australia will announce its decision at 04:30 on Tuesday. The most interesting thing will be the RBA’s comments on the levels of Australian dollar. AUD/USD rose by almost 8% since the last meeting of the central bank. Although, the recent data from China and Australia were rather good, there’s a good chance that the regulator will try to make Aussie go down a bit, especially taking into account the fact that the Federal Reserve is now less hawkish. Support is at 0.7590 and 0.7550. Resistance is at 0.7680 (March 18 high). USD/JPY is still vulnerable for more declines to 111.00/110.60. Japanese Prime Minister is expected to outline the specifics of budget at a cabinet meeting tomorrow and there may be talk of fiscal stimulus, which can benefit the yen. According to the Bank of Japan’s survey, Japanese companies' long-term inflation expectations weakened in March from three months ago. Still, for now traders are not focused on the Bank of Japan, and this weighs on the pair. GBP/USD jumped to 1.4325, where it faces resistance. Britain will release services PMI at 08:30 GMT (the forecast is good). However, be careful of further longs, as pound risks being hit by political news. Support is at 1.4275, 1.4240 and 1.4200. Resistance is at 1.4350 and 1.4400. More: https://fxbazooka.com/en/analitycs/show/8492

Forex Analytics NZD/CAD: buy target – 0.9050 1 April 2016 By: Dmitriy Chernovolov -NZD/CAD rising inside intermediate impulse wave (3) -Next buy target – 0.9050 NZD/CAD continues to rise inside the intermediate impulse wave (3) – which started earlier – when the price reversed up from the support zone lying between the support level 0.8800, lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous sharp intermediate impulse wave (1) from the middle of September. The upward reversal from the aforementioned support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing. NZD/CAD is likely to rise further in the active impulse wave (3) toward the next buy target at the resistance level 0.9050 (which reversed the price sharply earlier this week, as can be seen below). More: https://fxbazooka.com/en/analitycs/show/8464

Forex Analytics USD/CHF: sell targets - 0.9550 and 0.9500 1 April 2016 By: Dmitriy Chernovolov -USD/CHF broke support zone -Next sell targets - 0.9550 and 0.9500 USD/CHF recently broke below the support zone lying at the intersection of the pivotal support level 0.9670 (which stopped the previous intermediate ©-wave in the middle of February, as can be seen below) and the support trendline of the wide daily down channel from the end of last November. The breakout of this support zone accelerated the active minor impulse wave 3- which belongs to the intermediate ©-wave of the primary ABC correction ②. USD/CHF is likely to fall to the next sell targets at the support levels 0.9550 and 0.9500 (low of the previous correction 4 from last October). Strong resistance now stands at 0.9670. More: [url=https://fxbazooka.com/en/analitycs/show/8463]https://fxbazooka.com/en/analitycs/show/8463[/img]

Forex Analytics EUR/USD: "Pennant" strengthened bulls' pressure 1 April 2016 Sergey Logachev The price has found a resistance at 1.1409, which led to the current correction. Therefore, in the short term it's likely that the market is going to achieve the next upper levels such as a resistance at 1.1436. If buyers be stopped here, then a downward correction will have a chance to begin. We've got a “V-Top” pattern on the one-hour chart, so the price is declining. Considering a possible “Pennant” pattern, bulls are likely going to reach a resistance at 1.1409 – 1.1436. If we see a pullback somewhere from here, then the pair will probably start a correction towards a support area at 1.1364 – 1.1341. More: https://fxbazooka.com/en/analitycs/show/8461

Forex Analytics Forex trading plan for April 1 31 March 2016 By Kira Iukhtenko [Video] [/Video] Fed’s dovish comments at the beginning of the week worsened the market sentiment towards the US Dollar. On Thursday, increased unemployment claims added pressure to the greenback ahead of the most expected release of the week – March labor market data on Friday. We believe the US currency could get a short-term bullish impulse from the improved average hourly earnings reading, but the mid-term forecast remains bearish. EUR/USD extends the upside, reaching 1.1300 on Thursday. A pullback could happen from these levels, but next week we target at least 1.1500 for the pair. Key support is seen at 1.1300. GBP/USD reversed from the 1.4500 resistance, showing unwillingness to break above the potential “head-and-shoulders” neckline. Daily candlesticks on Wednesday and on Thursday are a great illustration of the growing bearish pressure. However, on Friday the pair could get a short-term lift from the UK Manufacturing PMI reading (forecast – upbeat). Meanwhile, USD/JPY stepped down to 112.15. Break below 112.00 could open the way to 110.00 next week. AUD/USD has finally reached 0.7700 and remains strongly bullish. China’s manufacturing indices on Friday could serve a perfect trigger for a new rally. More: https://fxbazooka.com/en/analitycs/show/8457

Forex Analytics NZD/USD: buy target - 0.7000 31 March 2016 By: Dmitriy Chernovolov -NZD/USD broke pivotal resistance level 0.6860 -Next buy target - 0.7000 NZD/USD recently broke above the pivotal resistance level 0.6860 (which had stopped previous waves 3, (ii), (A) and (i), as can be seen from the daily NZD/USD chart below). The breakout of this resistance level accelerated the active minor impulse waves (iii) and 3 – which belong to the intermediate ©-wave from the middle of January. NZD/USD is likely to rise further in the active impulse waves 3 and © toward the next buy target at the round resistance level 0.7000. Buy stop-loss can be placed at half the daily ATR (Average True Range) below the aforementioned price level 0.6860. More: https://fxbazooka.com/en/analitycs/show/8455

Forex Analytics EUR/USD: buy target – 1.1500 31 March 2016 By: Dmitriy Chernovolov -EUR/USD approaching resistance level 1.1380 -Next buy target – 1.1500 EUR/USD continues to rise inside the ©-wave of the minor ABC correction 2 from the start of this month. The active ©-wave earlier reversed up from the support zone lying between the support level 1.1150 and the 38.2% Fibonacci correction of the previous sharp (a)-wave. The price today broke above the resistance level 1.13420, which stopped the aforementioned (a)-wave. EUR/USD is currently approaching the resistance level 1.1380 (which stopped the previous intermediate ABC correction (2) in February). If the price breaks above 1.1380 – the pair can then rise to the next buy target at the strong resistance level 1.1500. More: https://fxbazooka.com/en/analitycs/show/8454

Forex Analytics USD/JPY: "Hammer" points to a possible correction 31 March 2016 Galina Svetlova The price has landed on the nearest support line. We haven’t got any reversal patterns so far, but the last bullish candles could be a sign for a local upward correction. If we see a pullback from the upper Moving Averages, then the price is likely going to decline again. As we can see on the Daily chart, here's an “Engulfing Bearish” on the 13 Moving Average, so today's candle is probably going to be a bearish one. The main trend on the one-hour chart is bearish, but we've got a “Harami” and an “Inverted Hammer” at the local minimums. At the same time, the price hasn't broke the highs of two “Three Methods” patterns, so the possible rise is likely going to be just a local correction. More: https://fxbazooka.com/en/analitycs/show/8453

Forex Analytics EUR/USD: "Three Methods" indicates a path 31 March 2016 Galina Svetlova The pair has been rising and we've got a possible “Three Methods” pattern in progress. At the same time, it’s a likely possible to see a bearish pattern at the nearest resistance line. If so, a local downwards correction is going to begin. As we can see on the Daily chart, yesterday’s candle closed above the 144 Moving Average, so today's candle is likely going to end at the nearby resistance line. We've got a bullish movement on the one-hour chart. The 13 Moving Average acts as a support, which brought a pullback a couple of hour ago. Yesterday's “Harami” pattern wasn’t confirmed, so bulls have an opportunity to continue their rally until any bearish pattern arrives. More: https://fxbazooka.com/en/analitycs/show/8452