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Forex Analytics Forex trading plan for May 26 The picture for EUR/USD remains negative. Euro was under pressure on Monday because of concerns about Greece and the lack of liquidity at the market because of the bank holidays. Levels at 1.1000, 1.1050 and 1.1100 now act as resistance. Support is located at 1.0915 and 1.0880. The focus will be on data from the US: durable goods orders at 12:30 GMT and consumer confidence at 14:00 GMT. Also watch the speeches of the Federal Reserve’s officials. USD/JPY has made a big move to the upside after better-than-expected US inflation data and Yellen’s comments on Friday. The US dollar is currently waiting for more catalysts from America (watch data releases on Tuesday): it all depends on the US. The pair doesn’t have full force for growth as the Bank of Japan indicated that it’s not planning to increase monetary easing for now. Resistance is at 121.85/122.05. Support is at 120.65/50 and 120.00. Buying at the lower levels may prove to be a good strategy. GBP/USD slid below the trend line support from mid-April. Recent data from the UK was mixed, while in the US there was an unexpected improvement. Another positive release from the US will send the pound further down. Resistance is at 1.5505, 1.5530 and 1.5580 (200-day MA).Support is at 1.5450 and 1.5390/40. EUR/GBP slid below 0.7115 and may revisit 0.7025. More: http://fxbazooka.com/en/analitycs/show/5184

Forex Analytics Westpac: fresh Forex forecasts 25 May 2015 Here are the fresh Forex forecasts from the large Australian bank Westpac (end of period). More: http://fxbazooka.com/en/analitycs/show/5171

Forex Analytics Danske Bank: trade signals for May 25 Open positions:* EUR/USD: Hold SHORT from 1.1115, TAKE PROFIT 1.0882, STOP LOSS 1.1210 (revised) USD/JPY: Hold LONG from 120.80, TAKE PROFIT 122.03, STOP LOSS 120.45 USD/CHF: Hold LONG from 0.9300, TAKE PROFIT 0.9599 (revised), STOP LOSS 0.9279 USD/CAD: Hold LONG from 1.2200, TAKE PROFIT 1.2352, STOP LOSS 1.2160 (revised) EUR/GBP: Hold SHORT from 0.7220, TAKE PROFIT 0.7014, STOP LOSS 0.7200 EUR/CHF: Hold SHORT from 1.0450, TAKE PROFIT 1.0305, STOP LOSS 1.0507 GBP/JPY: Hold LONG from 187.30, TAKE PROFIT 192.00, STOP LOSS 187.82 Trade ideas: EUR/CAD: BUY at 1.3482, TAKE PROFIT 1.3891, STOP LOSS 1.3392 NZD/USD: SELL at 0.7345, TAKE PROFIT 0.7177, STOP LOSS 0.7400 GBP/USD: Possibly SELL AUD/USD: Possibly SELL EUR/JPY: Possibly SELL ________________________________________________________ Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/5170

MARKET NEWS Concerns about Greece hurt the euro 25 May 2015 EUR/USD fell to 1.0970. The single currency is under pressure because of the concerns about Greece. The Greek interior minister, Nikos Voutsis, said on Sunday that Athens cannot make a 300 million euros ($330 million) debt repayment to the International Monetary Fund on June 5 unless it manages to reach a deal with its lenders. All in all, Greece has to pay 1.56 billion euros ($1.72 billion) next month. The nation hasn’t received bailout aid since August and the European Central Bank has provided less help lately to Greek banks. In the meantime, the ruling Radical Left Coalition Syriza narrowly rejected a call by party hardliners to miss its next International Monetary Fund loan payment. However, the party instead approved a text which claims the government will not sign a deal based on previous bailout agreements and rejects “ultimatums” by “the austerity fanatics.” Still, Syriza believes that a compromise with creditors is possible. More: http://fxbazooka.com/en/news/show/2692

Forex Analytics AUD/NZD: sell target – 1.0600 22 May 2015 By: Dima Chernovolov -AUD/NZD reversed from resistance zone -Next sell target – 1.0600 AUD/NZD continues to decline after recently reversing down from the strong resistance level 1.0810 (which also previously reversed the minor corrective wave 2 at the end of January, as you can see below). The resistance zone near 1.0810 was strengthened by the upper daily Bollinger Band and by 61.8% Fibonacci Correction of the previous sharp downward price thrust from October. The price recently created the two daily Japanese candlesticks reversal patterns near the resistance level 1.0810 – Falling Star and Bearish Engulfing. Having recently completed the intermediate ABC correction (2) - AUD/NZD is likely to fall further toward the next sell target 1.0600. More: http://fxbazooka.com/en/analitycs/show/5146

Forex Analytics NZD/CAD: buy target - 0.9030 22 May 2015 By: Dima Chernovolov -NZD/CAD reached sell target 0.8900 -Next buy target - 0.9030 NZD/CAD recently reversed up sharply from the support level 0.8900 (which was set as the sell target in our previous forecast for this currency pair). The upward reversal from this support level continues the active impulse wave ③ – which started earlier this month, when the pair reversed up sharply from the strong support level 0.8900. The upward reversal from this support level led to the formation of the strong Japanese candlestick reversal pattern Morning Star (the middle candle of which is also the Hammer). NZD/CAD is likely to rise further toward the next buy target at the resistance level 0.9030. More: http://fxbazooka.com/en/analitycs/show/5144

Forex Analytics Trading plan for May 22 US Dollar slowed its recovery on Thursday. Yesterday’s FOMC meeting minutes took the June rate hike off the table as most of the members believe the economy remains too weak. On Friday, States are scheduled to release its CPI at 12:30 GMT. Consumer prices are expected to have stayed in a green zone in April (+0.1% vs. +0.2% in March). Fed’s Chair Yellen will deliver a speech at 17:00 GMT (comments on the US economic outlook are expected). EUR/USD has support at 1.1050: a close below this level is needed for further bearish developments. Support then will be at 1.0990 and 1.0905. Resistance is at 1.1225, 1.1250 and 1.1290. Watch the comments of the ECB’s President Mario Draghi at 08:00 GMT. GBP/USD popped up to 1.5700 as the UK retail sales surprised to the upside on Thursday (+1.2% vs. +0.4% expected). We are ready to go long on a break above 1.5700. Next resistance is now seen at 1.5810 (May 14 high) and then at 1.5890 (200-week MA). Watch the public sector net borrowing data and the BOE’s Carney and Shafik speeches on Friday. USD/JPY closed at 121.35 on Wednesday before retreating to 120.85 on Thursday. US dollar was helped by rising stocks and volatility created by the release of the Federal Reserve’s meeting minutes. On Friday pay attention to the Bank of Japan’s meeting and press conference. There are some rumors that the central bank may upgrade its economic assessment. If that happens, this will reduce the odds of further monetary stimulus and make the yen strengthen. SupportforUSD/JPYliesat 120.50 and120.00/119.80. Resistanceisat 121.80/122.00. More: http://fxbazooka.com/en/analitycs/show/5142

Forex Analytics Danske Bank: trade signals for May 21 Open positions:* USD/JPY: Hold LONG at 120.80, TAKE PROFIT 122.03, STOP LOSS 120.19 AUD/USD: Hold LONG at 0.7955, TAKE PROFIT 0.8164, STOP LOSS 0.7858 USD/CAD: Hold LONG at 1.2200, TAKE PROFIT 1.2352, STOP LOSS 1.2128 EUR/GBP: Hold SHORT at 0.7220, TAKE PROFIT 0.7014, STOP LOSS 0.7320 GBP/JPY: Hold LONG at 187.30, TAKE PROFIT 190.40, STOP LOSS 185.94 NZD/USD: Hold SHORT at 0.7425, TAKE PROFIT 0.7192, STOP LOSS 0.7390 Trade signals: EUR/USD: SELL at 1.1166, TAKE PROFIT 1.0994, STOP LOSS 1.1245 GBP/USD: BUY at 1.5505, TAKE PROFIT 1.5670, STOP LOSS 1.5440 USD/CHF: BUY at 0.9300, TAKE PROFIT 0.9481, STOP LOSS 0.9245 EUR/JPY: SELL at 135.40, TAKE PROFIT 133.11, STOP LOSS 135.90 EUR/CHF: SELL at 1.0450, TAKE PROFIT 1.0305, STOP LOSS 1.0507 EUR/CAD: Possibly SELL _____________________________________________________________ Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/5129

Forex Analytics Trading plan for May 21 By Kira Iukhtenko The US dollar extends recovery for a third day in a row. On Thursday, we’ll watch the US unemployment claims and the Philly Fed manufacturing index (forecast – rise to 8,3). EUR/USD tested 1.1060 on Wednesday, falling below the 100-day MA at 1.1160. Fix below 1.1060/50 would open the way for a decline to 1.0700. Greek problems remain a bearish factor for the euro. Watch the European PMI indices on Thursday – activity is expected to decline a little. Later in the day, the ECB will release its April meeting minutes. GBP/USD is trying to recover back above 1.5500, supported by the BOE meeting minutes release. The next targets are seen at 1.5570 and 1.5600. Watch the UK retail sales on Thursday (forecast: +0,4%). AUD/USD remains under pressure for a 5th day in a row and fell below 0.7900. The trend line support was broken to the downside. Next target is seen at 0.7790. NZD/USD is testing the important support at 0.7320. Fix below will open the way to 0.7175. Watch the Chinese HSBC manufacturing PMI tonight (forecast: 49,4). More: http://fxbazooka.com/en/analitycs/show/5123

Forex Analytics Danske Bank: trade signals for May 20 Open positions:* AUD/USD: Hold LONG at 0.7955, TAKE PROFIT 0.8164, STOP LOSS 0.7858 EUR/GBP: Hold SHORT at 0.7220, TAKE PROFIT 0.7014, STOP LOSS 0.7320 EUR/CHF: Hold LONG at 1.0395, TAKE PROFIT 1.0546, STOP LOSS 1.0395 NZD/USD: Hold SHORT at 0.7425, TAKE PROFIT 0.7192, STOP LOSS 0.7510 Trade ideas: EUR/USD: SELL at 1.1166, TAKE PROFIT 1.1052, STOP LOSS 1.1218 USD/JPY: BUY at 120.20, TAKE PROFIT 121.41, STOP LOSS 119.75 USD/CHF: BUY at 0.9300, TAKE PROFIT 0.9481, STOP LOSS 0.9245 USD/CAD: BUY at 1.2105, TAKE PROFIT 1.2306, STOP LOSS 1.2003 GBP/USD: Possibly BUY on dips EUR/JPY: Possibly BUY on dips EUR/CAD: Possibly SELL GBP/JPY: Possibly BUY More: http://fxbazooka.com/en/analitycs/show/5108

MARKET NEWS Key option levels 20 May 2015 FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT). Here are the key options expiring today: EUR/USD: 1.1100 (EUR 356m), 1.1200 (221m); GBP/USD: 1.5690 (GBP 597m), 1.5600 (500m), 1.5450 (273m); USD/JPY: 119.75 (USD 840m), 120.00 (730m); USD/CAD: 1.2185 (USD 370m), 1.2205/10 (400m); AUD/USD: 0.7900 (AUD 332m); NZD/USD: 0.7250 (NZD 522m). More: http://fxbazooka.com/en/news/show/2684

Forex Analytics Forex trading plan for May 20 EUR/USD slid below the 100-day MA at 1.1175. Support lies at 1.1100, 1.1050 and 1.1000. The pair was under attack from both sides: the euro was weakened by the comments of the ECB board member about the asset purchases in May and June and bad figures from Germany, while the US dollar was strengthened by the unexpectedly good American housing market data. On Wednesday the Fed will release minutes of its April meeting. We don’t expect the central bank to signal a June rate hike, but once again say that all will depend on the economic data. This may limit the dollar’s decline, but with the increased pressure on the euro, EUR/USD should be a sell on rallies. GBP/USD fell to 1.5450. UK CPI contracted in April on the annual basis. This means that the Bank of England may be father away from raising the interest rates than the market has thought. On Wednesday the Bank of England will release its meeting minutes. Decline below 1.5400 will open the way down to 1.5270 and 1.5150. Resistance is in the 1.5570/1.5600 area. USD/JPY rose towards 120.50 on good figures from the US. The pair awaits the release of Japan’s Q1 GDP. Weak reading will help the pair get higher. Further resistance is at 120.85 and 121.00. Support is located at 119.90, 119.50 and 119.30. AUD/USD fell to 0.7935. The minutes of the Reserve Bank of Australia’s meeting minutes showed that the central bank doesn’t rule out further rate cuts. Support is at 0.7855 and 0.7780. The levels of 0.8000/30 are now acting as resistance. More: http://fxbazooka.com/en/analitycs/show/5103

Forex Analytics EUR/GBP: sell targets – 0.7130 and 0.7100 19 May 2015 By: Dima Chernovolov -EUR/GBP reached the sell target 0.7200 -Next sell targets – 0.7130 and 0.7100 EUR/GBP recently reached the sell target 0.7200 which was set in our previous forecast for this pair. After reaching this sell target EUR/GBP corrected up to the resistance zone lying between the 38.2% and 50% Fibonacci Retracement levels of the earlier sharp minor corrective wave 2, which started earlier this month. The downward reversal from the aforementioned zone continues the strong downtrend which can be seen on the daily EUR/GBP. EUR/GBP is likely to fall further to the next sell target 0.7130 (which reversed previous waves ( and 2). If EUR/GBP breaks below the support level 0.7130 – the pair can then fall further to 0.7100. More: http://fxbazooka.com/en/analitycs/show/5090

Forex Analytics EUR/USD: clouds on the European sky 19 May 2015 EUR/USD slipped to 1.1160 on the expectations of the weak German ZEW economic sentiment index. The expectations were right: the index came out at 41.9 in May vs, the forecast of 48.8 and 53.3 in April. Another bearish factor for the single currency was the comment of the ECB Board member Benoit Coeuré that the ECB would be ‘front loading’ asset purchases in May and June given likely low market liquidity in July and August. The European Central bank has thus reminded the market that it’s doing quantitative easing that lowers the European yields. Analysts at Bank of America Merrill Lynch see the signs of a top in German 10-year bund yields like the bearish shooting star candle and inability to rise above 0.78%. If the yield falls below the 200-day MA at 0.60% and May 8 low at 0.52%, it will head down to 0.38%. The rise of German yields since the middle of April to mid May was driving EUR/USD up. Without this moving force the pair will lose its strength. Still EUR/USD has good support at 1.1100/1.1050. This area should limit the losses of the single currency at least ahead the release of the Federal Reserve’s meeting minutes on Wednesday. At the same time, we expect negative pressure on the euro to strengthen. More: http://fxbazooka.com/en/analitycs/show/5095

Forex Analytics GBP/CAD: buy targets - 1.9150 and 1.9400 19 May 2015 By: Dima Chernovolov -GBP/CAD reached buy target 1.9000 -Next buy targets - 1.9150 and 1.9400 GBP/CAD continues to rise after the pair earlier broke above the round resistance level 1.9000 - which was set as the buy target in our previous forecast for this currency pair. The breakout of this resistance level should add to the bullish pressure on this currency pair in the coming trading sessions. The price is likely to rise further inside the active minor impulse wave (iii) – which is a part of the impulse 3 of the intermediate corrective ©-wave from the middle of April. GBP/CAD is expected to rise to the next buy targets 1.9150 (target price for the completion of the active impulse wave (iii) – followed by 1.9400 (which reversed the price in February). More: http://fxbazooka.com/en/analitycs/show/5088

Forex Analytics Forex trading plan for May 19 The US dollar weakened last week as the series of worse than expected economic data from the US continued. At the beginning of the new week American currency experienced some correction. EUR/USD slid to 1.1380 after it had found resistance at 1.1450. Traders were taking profits as the euro approached the key level of 1.1500. In addition, concerns about Greece have increased as the nation’s financial position is extremely fragile. On Tuesday watch the release of German ZEW economic sentiment index and the euro area’s final April CPI at 09:00 GMT. Support lies at 1.1290 and 1.1185. GBP/USD fell to 1.5650 after finding resistance in the 1.5800 area. Deeper retracement down is likely. Watch the UK inflation data at 08:30 GMT. Support is at 1.5570 and 1.5500 ahead of 1.5400. USD/JPY rose to 119.75. Resistance is at 119.88 and 120.15. Support is at 119.15. Range trading continues. AUD/USD is testing levels below 0.8000. Aussie was affected by comments of the Reserve Bank of Australia Deputy Governor Lowe who said that the central bank still can lower interest rates further. Early on Tuesday the RBA will release the minutes of its May meeting when it cut the benchmark interest rate to 2%. Support is at 0.7950, 0.7900 and 0.7800. More: http://fxbazooka.com/en/analitycs/show/5082

Forex Analytics GBP/NZD: buy target - 2.1400 18 May 2015 By: Dima Chernovolov -GBP/NZD reached buy targets 2.0930 and 2.1050 -Next buy target - 2.1400 GBP/NZD has been rising sharply in the last few trading sessions – breaking through the two resistance levels 2.0930 and 2.1050, - both of which were set as the buy targets in our previous forecast for this currency pair. After reaching these targets, GBP/NZD corrected down to the strong support level 2.0840 (former strong resistance level which stopped the previous waves (3) and B in February and March, as you can see below). The price reversed up from this support level with the daily Japanese candlesticks reversal pattern Piercing Line. GBP/NZD is likely to rise further toward the next buy target 2.1400 (which reversed the price earlier last week). Buy stop-loss can be placed below the strong support level 2.0840. More: http://fxbazooka.com/en/analitycs/show/5069

Forex Analytics NZD/CAD: sell target – 0.8900 18 May 2015 By: Dima Chernovolov -NZD/CAD reversed from resistance zone -Next sell target – 0.8900 NZD/CAD recently reversed down sharply from the resistance zone lying between the resistance level 0.9030 (former strong support level which reversed wave (2) in February) and the 61.8% Fibonacci Correction of the previous sharp downward impulse wave (which earlier broke the major support level 0.9180 and the support trendline of the wide daily up channel from December, as you can see below). Given the strong intraday downtrend inside which the pair has been falling in the last two months - NZD/CAD can be expected to fall further toward the next sell target at the nearby support level 0.8900. Strong resistance remains at 0.9030. More: http://fxbazooka.com/en/analitycs/show/5071

MARKET NEWS US dollar edged a bit higher 18 May 2015 US dollar rose a bit higher versus the major currencies on Monday, but remained not far from a 3-month low versus the euro after weak US economic data released last week increased expectations that the Federal Reserve will wait longer to raise interest rates. EUR/USD edged down to 1.1400. GBP/USD slid down to 1.5700 after it found resistance at 1.5800 last week. USD/JPY rose to 119.75. AUD/USD is trying to hold above 0.8000. NZD/USD opened with a gap down and slid to 0.7416 after the government announced on Sunday a new capital gains tax on residential property investments to cool soaring prices in Auckland. More: http://fxbazooka.com/en/news/show/2674

Forex Analytics EUR/NZD: buy target - 1.5400 and 1.5600 15 May 2015 By: Dima Chernovolov -EUR/NZD reached buy target 1.5200 -Next buy target - 1.5400 and 1.5600 EUR/NZD has been rising in the last few trading sessions inside the second minor corrective wave 2, which started in the middle of last month. This minor correction recently broke the resistance level 1.5200, which was set as the buy target in our previous technical analysis report for this currency pair. The breakout of this resistance level was preceded by the breakout of the pivotal resistance level 1.5000 (coinciding with 50% Fibonacci Correction of the earlier downward impulse from December). EUR/NZD is currently trading close to the resistance trendline of the wide daily down channel from last September. If the pair breaks this trendline - EUR/NZD can then rise to the next buy targets 1.5400 and 1.5600. More: http://fxbazooka.com/en/analitycs/show/5047

Forex Analytics EUR/USD: buy target – 1.1600 15 May 2015 By: Dima Chernovolov -EUR/USD approached resistance level 1.1450 -Next buy target – 1.1600 EUR/USD recently reversed up from the support level 1.1125 (which is the upper boundary of the former resistance zone lying between price levels 1.1125 and 1.1000). The support zone near the support level 1.1125 was further strengthened by the former resistance trendline of the recently broken daily up channel from March (acting as support now after it was broken). The upward reversal from the support level 1.1125 completed the minor correction 2 – starting the active impulse wave 3. EUR/USD is currently trading close to the resistance level 1.1450 (which reversed waves (4), 2 and 4 in February). If the pair breaks above 1.1450 - EUR/USD can then rise to the next buy target 1.1600. More: http://fxbazooka.com/en/analitycs/show/5049

Forex Analytics Danske Bank: trade signals for May 15 Open positions:* EUR/USD: Hold LONG at 1.1230, TAKE PROFIT 1.1534, STOP LOSS 1.1275 GBP/USD: Hold LONG at 1.5655, TAKE PROFIT 1.5945, STOP LOSS 1.5600 USD/CHF: Hold SHORT at 0.9135, TAKE PROFIT 0.8936, STOP LOSS 0.9215 AUD/USD: Hold LONG at 0.7950, TAKE PROFIT 0.8234, STOP LOSS 0.8000 (revised) EUR/JPY: Hold LONG at 134.25, TAKE PROFIT 137.64, STOP LOSS 135.03 (revised) EUR/GBP: Hold SHORT at 0.7220, TAKE PROFIT 0.7014, STOP LOSS 0.7320 EUR/CHF: Hold LONG at 1.0395, TAKE PROFIT 1.0546, STOP LOSS 1.0345 GBP/JPY: Hold LONG at 184.50, TAKE PROFIT 191.02, STOP LOSS 185.99 Trade ideas: USD/JPY: BUY at 118.83, TAKE PROFIT 120.28, STOP LOSS 118.28 USD/CAD: SELL at 1.2044, TAKE PROFIT 1.1803, STOP LOSS 1.2117 EUR/CAD: BUY at 1.3587, TAKE PROFIT 1.3891, STOP LOSS 1.3537 __________________________________________________________________________ *Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/5044

Forex Analytics Forex trading plan for May 15 Data released in the US on Thursday was mixed: the unemployment claims turned out to be better than expected, but producer prices unexpectedly contracted. The latter will add to the expectations that the Federal Reserve will start raising interest rates rather later than sooner. On Friday there will be some more releases in America: industrial production at 13:15 GMT and preliminary consumer sentiment at 14:00 GMT. EUR/USD tested levels above 1.1400. Support is at 1.1290, 1.1170 and 1.1100. Resistance is at 1.1500 and 1.1620. GBP/USD rose above 1.5800. Resistance is at 1.5880 (50% Fibo of the 2014-2015 decline) and 1.5900 (200-week MA). Support is at 1.5625 (200-day MA) and 1.5570/50. Economic data released in the UK remain encouraging, but the Bank of England downgraded economic outlook in the Inflation Report released on Wednesday. The pound has potential to rise a bit higher, but be cautious with big longs. USD/JPY found some support at 119.00, though the pair still looks vulnerable for a decline to 118.50/30. On Friday pay attention to the speech of the Bank of Japan’s Governor Kuroda. Support for AUD/USD is at 0.8060 and 0.8000. On the upside target lies in the 0.8250 area. More: http://fxbazooka.com/en/analitycs/show/5040

Forex Analytics AUD/JPY: buy target - 98.30 14 May 2015 By: Dima Chernovolov -AUD/JPY broke resistance levels 94.50 and 96.00 -Next buy target - 98.30 AUD/JPY has been rising steadily in the last few trading sessions – following the breakout of the resistance level 94.50 (top of the previous A-wave from March, which was set as the buy target in our previous forecast for this currency pair). The breakout of this resistance level coincided with the breakout of the 38.2% Fibonacci Correction of the previous sharp downward impulse wave from November. This double breakout accelerated the active C-wave of the intermediate ABC correction (2) from February – helping AUD/JPY break the next resistance level 96.00. AUD/JPY is likely to rise further toward the next resistance level 98.30 (target price for the termination of the active C-wave). More: http://fxbazooka.com/en/analitycs/show/5029

Forex Analytics USD/CHF: sell target – 0.9060 14 May 2015 By: Dima Chernovolov -USD/CHF reversed from resistance level 0.9350 -Next sell target – 0.9060 USD/CHF recently reversed sharply down from the resistance level 0.9350 (coinciding with the 38.2% Fibonacci Correction of the previous sharp downward impulse wave 1 from April). The previous impulse wave earlier broke through the strong support level 0.9500 and the 200-day moving average (as you can see below) – thereby giving strong bearish signal. The latest downward reversal from the resistance level 0.9350 completed the previous minor correction 2 and starting the active impulse wave 3. USD/CHF is likely to fall further toward the next sell target at the support level 0.9060 (which reversed the previous minor impulse wave 1). More: http://fxbazooka.com/en/analitycs/show/5031