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Forex Analytics GBP/USD: "Double Top" stopped the rise 31 March 2016 Sergey Logachev There's a “Double Top” pattern, which led to the current downward movement in a range of support zone 1.4343 – 1.4305. It’s likely to see the market even lower, so a support area between the 89 Moving Average and the level at 1.4282 is probably going to be reached soon. If a pullback arrives, then it'll be a chance for bulls to come back to the market. If so, they are likely going to try to achieve a resistance area at 1.4436 – 1.4502. The price has been declining since a resistance at 1.4468 was reached. Moreover, we've got a “Double Top” pattern as well, so the pair is likely going to get a support at 1.4259. If sellers be stopped here, then buyers will probably try to reach a resistance area at 1.4436 – 1.4468. More: https://fxbazooka.com/en/analitycs/show/8446

Forex Analytics EUR/USD: "V-Top" frightened the bulls away 31 March 2016 Sergey Logachev The price faced a resistance at 1.1341, which brought a “V-Top” pattern and a bearish movement afterwards. It’s likely that the market is going to reach a support at 1.1273 near the up-trend line. If we see any kind of pullback from here, then a new stage of bullish rally will be possible, so we should keep an eye on a resistance at 1.1376 . As we can see on the one-hour chart, the pair found a resistance at 1.1376, which led to the current decline. The price is likely going to achieve a support at 1.1259 in the short term. If sellers be stopped here, then buyers will have an opportunity to come back to the market. If so, a support area between the levels 1.1364 – 1.1376 is going to be reached soon. More: https://fxbazooka.com/en/analitycs/show/8445

Forex Analytics Forex trading plan for March 31 30 March 2016 By Elizabeth Belugina US dollar index returned to 8-month lows, where it fell after the Federal Reserve’s March meeting as Janet Yellen said that the Fed should be cautious in raising rates because of external risks including low oil prices and slower growth abroad. Chicago Fed President Charles Evans followed the same line on Wednesday.On Thursday we’ll hear from New York Fed president Dudley at 09:00 GMT. Dudley tended to be mildly dovish, will his comments echo those of Yellen? According to ADP employment report, the number of employed people rose by 200K in March vs. the forecast of 195K increase, though the previous reading was revised down from 214K to 205K. The release was mildly positive for the greenback. EUR/USD met resistance at 1.1340. Finally, there will be news from the euro area. Watch German retail sales at 06:00 GMT and the regions flash inflation figures at 09:00 GMT (better forecasts). Support is at 1.1250/15. Above 1.1340 there may be a rally to 1.1375, 1.1400 and even 1.1460. The Bank of England’s Governor Mark Carney will speak at 07:00 GMT. The pound looks vulnerable as the latest opinion polls showed the number of Brexit supporters increased further. Moreover, Carney will probably not welcome high levels of British currency. Also watch British current account and final GDP at 08:30 GMT. Resistance for GBP/USD is at 1.4435/50 and 1.4500. Support is at 1.4350 and 1.4285. USD/JPY tested 112.00, but then recovered to 112.50. Japanese industrial production fell by 6.2% in February. This is the biggest decline since March 2011 earthquake. More weak data are expected from Japan later this week. The pair could recover to 113.00. Next resistance is at 113.50. AUD/USD ran into resistance at 0.7700 and is vulnerable for correction to 0.7600/7590. Next support is at 0.7530. Canadian January GDP is due at 12:30 GMT. USD/CAD has support at 1.2975, but below may slide to 1.2830. Resistance is at 1.3130. More: https://fxbazooka.com/en/analitycs/show/8442

Forex Analytics EUR/USD: "Mat Hold" is in progress 30 March 2016 Galina Svetlova The price has been rising since a “Tweezers” formed on last Friday. It’s likely that we have a “Mat Hold” pattern in progress. The upper resistance is still on the table. As we can see on the Daily chart, there’s an “Engulfing Bullish” at the last low. Yesterday’s candle broke the 144 Moving Average line, so today's candle is probably going to be bullish as well. There're a “Morning Star” and an “Engulfing Bullish”, which led to the current upward movement. A reversal “Deliberation” pattern hasn't been confirmed. We haven’t got any reversal pattern so far and it’s an opportunity for buyers to go on until any bearish pattern arrives. More: https://fxbazooka.com/en/analitycs/show/8437

Forex Analytics AUD/USD: buy target - 0.7800 30 March 2016 By: Dmitriy Chernovolov -AUD/USD approached buy target 0.7700 -Next buy target - 0.7800 AUD/USD has been rising in the last few trading sessions inside the (-wave of the minor C-wave, which belongs to the intermediate ABC correction (2) from the middle of January. The active (-wave started earlier – when the price reversed up from the support zone lying between the support level 0.7500 and the 38.2% Fibonacci correction of the previous sharp upward impulse wave from the end of February. AUD/USD today approached the resistance level 0.7700 (previous buy target set in our earlier forecast for this currency pair). If the price breaks above 0.7700 - AUD/USD can then rise to the next buy target at the next resistance level 0.7800 (target price for the completion of the active C-wave). More: https://fxbazooka.com/en/analitycs/show/8436

Forex Analytics EUR/USD: bulls faced the "Triple Top" 30 March 2016 Sergey Logachev The pair has been rising since a “Double Bottom” pattern arrived at the last low. The price found a resistance in a range between the levels 1.1273 and 1.1341. It’s likely that the market is going to reach the nearest support line. If a pullback appears, then bulls will probably try to achieve a resistance area at 1.1341 – 1.1376. As we can see on the one-hour chart, the last “Flag” was finally ended by the extremely fast bullish rally. Buyers faced a resistance at 1.1306, which led to the current local flat. It’s likely that the pair is going to test a support area at 1.1284 – 1.1259, but if this possible correction be stopped somewhere in here, then bulls will likely open a new stage on their rally. If so, a resistance area at 1.1336 – 1.1341 is going to be achieved soon. More: https://fxbazooka.com/en/analitycs/show/8433

Forex Analytics USD/JPY: more bullish pressure 29 March 2016 Galina Svetlova The bullish movement is still the main direction. Moreover, we’ve got a couple of “Three Methods” patterns, so in the short term the market is likely going to be higher towards the nearest resistance line. As we can see on the Daily chart, there isn’t any reversal pattern so far, which gives bulls a path to form a white candle today. The price has been rising last days. There’s a “Three Methods” pattern at the last high, but if the pair be stopped on the nearest resistance, then it’ll be a chance to see a local correction. If any of the Moving Averages acts as a support, then bulls can resume their rally. More: https://fxbazooka.com/en/analitycs/show/8428

Forex Analytics EUR/USD: bears faced a "harami" 29 March 2016 Galina Svetlova The price finally got a support on the nearest “Window”, which led to form a “Tweezers” pattern afterwards. There’s a “Shooting Star” at the last high, so the market is likely going to be lower. As we can see on the Daily chart, here’s an “Engulfing Bullish” pattern, so the local upward correction has a reason to be continued. The pair reached a support by the “Window” and tasted the upper resistance afterwards, so now the market backed to the range. We’ve got a “Harami” at the local high and the following “Three Method” pattern, which confirms the possibility of further declining. It’s likely that the price is going to reach the nearest “Window” once again. More: https://fxbazooka.com/en/analitycs/show/8427

Forex Analytics CHF/JPY: buy target – 117.50 29 March 2016 By: Dmitriy Chernovolov -CHF/JPY broke resistance zone -Next buy target – 117.50 CHF/JPY continues to rise after the price earlier broke through the resistance zone lying at the intersection of the pivotal resistance level 116.00 (which stopped the previous minor (a)-wave earlier this month, as can be seen below) and the 38.2% Fibonacci correction of the previous downward impulse wave from the end of December. The breakout of this resistance zone accelerated the active ©-wave of the minor ABC correction 4 from the start of this month. CHF/JPY is likely to rise in the active minor ©-wave toward the next buy target at the resistance level 117.50 (lying at the intersection of the daily down channel from 2015 and the 50% Fibonacci correction of the aforementioned downward impulse from December). More: https://fxbazooka.com/en/analitycs/show/8426

Forex Analytics AUD/NZD: sell target - 1.1100 29 March 2016 By: Dmitriy Chernovolov -AUD/NZD reversed from pivotal resistance level 1.1300 -Next sell target - 1.1100 AUD/NZD continues to fall after the price earlier reversed down sharply from the resistance zone surrounding the pivotal resistance level 1.1300 (which has been reversing the price from June of last year, as can be seen from the daily AUD/NZD chart below). The last two downward reversals from this resistance level created the two consecutive Japanese candlesticks reversal patterns – Bearish Engulfing and Dark Cloud Cover. With the clear bearish divergence visible on the daily RSI indicator - AUD/NZD can be expected to fall further from the current levels toward the next sell target at the pivotal support level 1.1100 (former resistance level which stopped the minor impulse wave 1 in November). More: https://fxbazooka.com/en/analitycs/show/8424

Forex Analytics GBP/USD: bulls stopped by the resistance 29 March 2016 Sergey Logachev The last flat has been ended by the bullish rally. Finally, buyers faced a resistance at 1.4282, which brought a “V-Top” pattern and led to the current decline. It’s likely that the pair is going to reach a support area between the 34 Moving Average and the level 1.4182. If we see a pullback, then a rise becomes possible, so we should keep an eye on a support area at 1.4305 – 1.4343. We’ve got a “Pennant”, which was ended yesterday. Bulls faced a resistance at 1.4282, so a “Double Top” pattern was delivered. It’s likely that the price is going to reach a support area at 1.4193 – 1.4182, but if a pullback appears afterwards, then bulls will have a chance to achieve a resistance area at 1.4305 – 1.4343. More: https://fxbazooka.com/en/analitycs/show/8418

Forex Analytics EUR/USD: "double bottom" led to the correction 29 March 2016 Sergey Logachev There was a flat, which finally was ended by the bullish rally towards a resistance at 1.1217. Previously, a reversal “Double Bottom” pattern has been formed. It’s likely to see the market lower in the short term. The target support is an area between the 34 Moving Average and the level at 1.1156. If a pullback appears somewhere from here, then we will have an opportunity to see a rise towards a resistance area at 1.1245 – 1.1273. As we can see on the one-hour chart, the last “Pennant” was finally ended up by the upward movement. The price faced a resistance at 1.1217, which led to the current decline. It’s likely that the market is going to reach a support at 1.1157. If bears be stopped here, then bulls will probably try to achieve a resistance area at 1.1217 – 1.1237. More: https://fxbazooka.com/en/analitycs/show/8417

Forex Analytics Forex trading plan for March 29 28 March 2016 By Elizabeth Belugina Last week US dollar corrected to the upside. Growth in the US core personal consumption expenditures price (PCE) index slowed down from 0.3% in January to 0.1% in February, data showed on Monday. Weak data reduce the odds that the Federal Reserve will increase rates soon and is negative for the US dollar. On Tuesday the US will release CB consumer confidence figures at 14:00 GMT. The Fed’s Chairwoman Janet Yellen will speak at 15:30 GMT. European markets will reopen on Tuesday after the Easter holidays. EUR/USD has support at 1.1145 and may recover to 1.1220 in the absence of important data from the euro area. Next resistance is at 1.1240 and 1.1260. GBP/USD is trying to recover last week’s decline. Above 1.4285 it will be able to recover to 1.4350. Nothing in the UK economic calendar on Tuesday. EUR/GBP looks vulnerable for a decline to 0.7800. USD/JPY has been rising for 7 days in a row and is now vulnerable for correction to 113.00/112.50. Japan will release retail sales data, the forecast is optimistic. Commodity currencies were supported by higher oil prices. NZD/USD made the biggest gains on Monday with potential to form daily bullish engulfing and rise to 0.6775. AUD/USD may rise to 0.7600. More: https://fxbazooka.com/en/analitycs/show/8412

Forex Analytics EUR/JPY: buy target - 127.30 28 March 2016 By: Dmitriy Chernovolov -EUR/JPY rising inside minor corrective wave 2 -Next buy target - 127.30 EUR/JPY continues to rise inside the minor corrective wave 2 – which started earlier – when the price reversed up from the support zone lying between the support level 125.00 and the 50% Fibonacci correction of the previous sharp ABC correction (4) from the end of February. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer Doji – which started the active minor corrective wave 2. EUR/JPY is likely to rise further in the active minor correction 2 toward the next buy target at the resistance level 127.30 (which stopped the previous intermediate correction (4)). Strong support remains at 125.00. More: https://fxbazooka.com/en/analitycs/show/8409

Forex Analytics EUR/USD: "window" acted as a strong support 28 March 2016 Galina Svetlova There's a “Tweezers” pattern at the last low, which has been formed above the nearest “Window” area. So, it’s likely that the price is going to reach the upper “Window”. If we see a pullback from it, then bears will have a chance to return to the market. As we can see on the Daily chart, after a “Harami” and a “Three Black Crows” have been formed, we’ve got series of bearish candles. Despite of there isn’t any reversal pattern, a possibility of local correction is still on the table. We’ve got a flat above the lower “Window”. There’s a “Engulfing Bullish” at the local low, which has been confirmed by the following “Three Methods” pattern. In the short term the market is likely going to taste the “Window” once again and try to achieve the nearest resistance afterwards. More: https://fxbazooka.com/en/analitycs/show/8408

Forex Analytics GBP/USD: support is waiting 28 March 2016 Sergey Logachev The pair has been moving in a range along a support at 1.4117. It's likely to see the market lower in the short term. In case of a possible pullback from a support at 1.4042, the price will have a chance to taste a resistance at 1.4193. There's a probable “Pennant” on the one-hour chart, so the price is likely going to break its lower side. If bears be stopped on a support line at 1.4042, then bulls will likely try to reach a resistance area between the levels 1.4117 – 1.4155. More: https://fxbazooka.com/en/analitycs/show/8405

Forex Analytics EUR/USD: "pennant" has become bigger 28 March 2016 Sergey Logachev There’s a flat along a support line at 1.1156. It’s likely that the market is going to reach a support area between the 89 Moving Average and the level at 1.1079. If we see a pullback from this area, then bulls will have an opportunity to achieve a resistance area between the 55 & 34 Moving Average lines. We've got a flat in progress under the Moving Average lines. There's a possible “Pennant” pattern, so its lower side is likely going to be broken soon. If a pullback from a support at 1.1079 appears, then the pair can start an upward movement towards a resistance at 1.1158. More: https://fxbazooka.com/en/analitycs/show/8399

Forex Analytics EUR/GBP: sell target - 0.7800 25 March 2016 By: Dmitriy Chernovolov -EUR/GBP reversed from resistance zone -Next sell target - 0.7800 EUR/GBP recently reversed down from the resistance zone lying between the pivotal resistance level 0.7920 (which reversed the previous impulse waves ① and (1), as can be seen from the daily EUR/GBP chart below) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the active intermediate impulse wave (3), which belongs to the primary upward impulse ③ from the start of this month. Given the strength of the resistance level 0.7920 and the overbought reading on the daily Stochastic indicator - EUR/GBP can be expected to correct down from the current levels toward the next sell target at the support level 0.7800. More: https://fxbazooka.com/en/analitycs/show/8383

Forex Analytics EUR/USD: "harami" are on the both sides 25 March 2016 Galina Svetlova There's one more “Three-Line Strike” pattern at the local low, so the market is likely going to decline towards the nearest “Window”. As we can see on the Daily chart, we’ve got a “Harami” and a “Three Black Crows” at the last high. The last candles are bearish, but considering their quite big lower shadows it’s likely to see a local upward correction. The pair has been falling down under the Moving Average lines. The last candle patterns are various, so currently we’ve got a flat. It’s likely that the price is going to taste the Moving Average lines once again. If it brings one more pullback and any kind of bearish pattern, then the lower “Window” will act as a main support. More: https://fxbazooka.com/en/analitycs/show/8382

Forex Analytics GBP/USD: "thorn" overset the bear's plans 25 March 2016 Sergey Logachev The pair has found a support at 1.4052, so currently we've got an upward correction. There's a possible “Thorn” pattern, so a rise is likely going to reach a resistance at 1.4282, but at first the price might test a support at 1.4042 once again. We’ve got a “V-Bottom” at the last low, which led to the current correction. Previously, the price has faced a support at 1.4052. In the short term the market is likely going to taste a support at 1.4042. If a pullback from this level appears, then buyers will have an opportunity to achieve a resistance area between the level 1.4193 and the 34 Moving Average. More: https://fxbazooka.com/en/analitycs/show/8379

Forex Analytics EUR/USD: the third "pennant" in a row 25 March 2016 Sergey Logachev The market has faced a support at 1.1156, which led to the current upward correction. Nevertheless, it’s likely to see the price a little bit lower in the short term. If a pullback from a support at 1.1124 appears, then bull will probably try to reach a resistance between the levels 1.1217 – 1.1245. We’ve got a flat in progress above the upper side (1.1145) of support zone. There’s a possible “Pennant” pattern, so its lower side is likely going to be broken during the day. If so, the downward movement is going to reach a support at 1.1124. If bears be stopped here, then bull will have a chance to achieve a resistance area between the level 1.1237 and the 55 Moving Average. More: https://fxbazooka.com/en/analitycs/show/8378

Forex Analytics Trading plan for March 25 24 March 2016 Kira Iukhtenko [Video] [/Video] US currency regained some power during the past couple of days. However, on Thursday the rally was paused by the mixed US data releases. On Friday, European markets will be closed due to the Easter holidays, so liquidity will likely stay thin. The only release to watch in the economic calendar is the final US Q4 GDP. According to the forecast, no revisions is expected (+1.0%), buy any surprises will clearly move the markets. EUR/USD is retracing after the last weeks impressive rally. The pair tested 1.1150 on Thursday. In my view, we are moving to the 1.1050 support. The picture will stay bearish below 1.1220 (local highs). Meanwhile, GBP/USD slowed the decline on Thursday. US retail sales data turned to be better than expected. Support to watch - 1.4050, there is a strong buying interest at these levels. USD/JPY remains in a bullish channel since March 17. However, the 113 yen figure remains a strong barrier. We see space for a decline to 112.20 in the coming sessions. AUD/USD fell below 0.7600. In my view, the pair has potential for a decline to 0.7380 in the current overbought conditions. More: https://fxbazooka.com/en/analitycs/show/8375

Forex Analytics USD/JPY: buy target - 114.00 24 March 2016 By: Dmitriy Chernovolov -USD/JPY reversed from major support level 111.00 -Next buy target - 114.00 USD/JPY continues to rise inside the minor corrective wave (ii) – which started earlier, when the pair reversed up from the major support level 111.00 (which reversed previous waves 3 and (, as can be seen from the daily USD/JPY chart below). The support zone near the support level 111.00 was strengthened by the lower daily Bollinger Band. Given the clear bullish divergence that can be seen on the daily Stochastic indicator - USD/JPY can be expected to rise further from the current levels toward the next buy target at the resistance level 114.00 (which has been reversing the price from the start of this month). More: https://fxbazooka.com/en/analitycs/show/8372

Forex Analytics USD/JPY: new "high wave" arrived 24 March 2016 Galina Svetlova The market has been rising since an “Engulfing” and a “High Wave” arrived at the last low. In case we’ve got a “Mat Hold”, the upward correction has a reason to be continued. It’s a still possible to see a local downward correction, but then bulls are probably going to reach the 89 Moving Average. As we can see on the Daily chart, the price broke the last “Window” once again, so it’s likely that today’s candle will close above it. There’s a bullish movement on the one-hour chart. Moreover, the pair has found a lodgement above the 144 Moving Average. We've got a “High Wave” at the last maximum, but it hasn't confirmed yet. So, the downward correction is a likely possible, but then bulls are probably going to set up a new rally, which can going on until any bearish pattern forms. More: https://fxbazooka.com/en/analitycs/show/8370

Forex Analytics EUR/USD: "window" stopped the bearish rally 24 March 2016 Galina Svetlova There’s a “Three Methods” pattern at the last low, but it’s very likely to see a support on the upper side of nearest “Window” and the 55 Moving Average line. As we can see on the Daily chart, the last candles are bearish. Previously, a «Harami» and a «Three Black Crows» have been formed at the local high. So, the downward movement is likely going to be deeper until any bullish pattern forms. We’ve got a bearish movement on the one-hour chart. The price has been declining under the Moving Average lines and reached the nearest “Window”, which can act as a support and bring any kind of bullish pattern. Therefore, the market is likely going to achieve the Moving Average, but if we see a pullback from any of these lines, then bears will have a chance to taste the “Window” once again. More: https://fxbazooka.com/en/analitycs/show/8369