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MORNING BRIEF FOR APRIL 25 06:26 25.04.2017 Safe-haven assets, including the yen and gold, are still under pressure as investors whet their appetites for the riskier assets after centrist Macron qualified for the May 7 runoff alongside far-right nationalist Marine Le Pen. While polls show, Macron winning the May 7 contest by 20-30% points, the risk for Macron that voters will be turned off is still in place especially after his and his supporters’ drinking spree at La Rotonde resto. It was a huge mistake to make ahead of the second round of the election, according to Thomas Guenole, professor politics at the Sciences Po institute. “Macron needed to show himself as a real statesman and instead he comes across as a child king,” the academic said. EUR/USD was trading a bit lower at 1.0870 after jumping to as high as 1.0935 on Monday. There is a room for a further upside towards the psychological level at 1.1000. While markets are still lingering in the glow of relief after the French election in the first half of this week, the second one will likely put Donald Trump in the forefront. The US President is poised to unveil his tax reform plan on Wednesday that should be a significant driver for the markets. Also, the administration flagged that it is ready to fight desperately for its planned Mexican border wall. It seems that Trump’s team is straining to demonstrate progress achieved on key campaign promises like money for a border wall, increased military spending, cut tax. But any of these measures require bipartisan support, and Democrats refuse to budge raising the prospects for a shutdown. Today may take the heat off as there should be a very light day for economic data. North Koreans may make some waves though as they might test an intercontinental ballistic missile or nuclear device today celebrating the 85th anniversary of the Korean People’s Army. The Canadian dollar was the biggest loser of Tokyo session. It fell after the US announced new duties averaging 20% on Canadian softwood lumber imports. USD/CAD spiked to the highest level (1.3560) last seen in December 2016. On the upside, there is a sturdy resistance at 1.3600. Australia and New Zealand are closed for the Anzac Day holiday. Aussie edged down to 0.7550 after hitting 0.7570 on Monday. AUD/USD will likely be trading sideways in the upcoming sessions having moved into a consolidation phase. On the downside, we see several supports at 0.7520, 0.7430 (the lower border of consolidation range). If there is a rebound, the prices might face a hurdle at 0.7610 (the upper border of the range). Tomorrow’s focus will be on the Australian CPI figures which are expected to confirm that the pronounced pulse of inflation in Australia is still weak. This might become a drag for AUD. USD/JPY is hovering around 110.10 level. The technical outlook for the pair is neutral despite the salient surge seen on Monday. A daily closing above 110.60 would open the way towards 111.55. In the early trading hours, we heard some interesting comments from deputy governor of the Bank of Japan Iwata, saying the BoJ is conducting simulations on the exit strategy, but not willing to disclose the facts to the press. In commodities markets, oil prices traded higher to almost $52.30, although gains were capped by fears that the OPEC members might fail to extend output cuts beyond June 30, as Russia claimed that it will lift output if the deal on curbs lapses. More: https://fbs.com/analytics/articles/morning_brief_for_april_25__689

AUD/USD: BULLS ARE STOPPED BY CLOUD 05:16 25.04.2017 Technical levels: support – 0.7550; resistance – 0.7570. Trade recommendations: 1. Sell — 0.7540; SL — 0.7560; TP1 — 0.7470; TP2 — 0.7430. Reason: bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are under strong resistance of the Cloud. More: https://fbs.com/analytics/articles/aud%2fusd%3a_bulls_are_stopped_by_cloud_688

EUR/USD: EURO NEEDS A CORRECTION 05:15 25.04.2017 Technical levels: support – 1.0800; resistance – 1.0900. Trade recommendations: 1. Sell — 1.0860; SL — 1.0880; TP1 — 1.0800. 2. Buy — 1.0800; SL — 1.0780; TP1 — 1.0900; TP2 – 1.0930. Reason: bullish Ichimoku Cloud, but Senkou Span A and B are horizontal; a cancelled golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the prices are under strong resistance on daily timeframe; the local market is overbought More: https://fbs.com/analytics/articles/eur%2fusd%3a_euro_needs_a_correction_687

EUR/NZD RISING INSIDE INTERMEDIATE IMPULSE WAVE (3) 15:41 24.04.2017 EUR/NZD rising inside intermediate impulse wave (3) Next buy target - 1.5700 EUR/NZD continues to rise inside the intermediate impulse wave (3) – which started earlier from the support area lying between the key support level 1.5100, lower daily Bollinger Band, 38.2% Fibonacci correction of the sharp upward impulse (1) from February and the 50-day simple moving average. The price earlier broke the daily down channel from March – which accelerated the active impulse wave (3). EUR/NZD is expected to rise to the next buy target at the key resistance level 1.5700 (which reversed the price in last October, as can be seen from the daily EUR/NZD chart below). More: https://fbs.com/analytics/articles/eur%2fnzd_rising_inside_intermediate_impulse_wave_%283%29_679

EUR/USD: WAVE 2 ON THE WAY 14:45 24.04.2017 Wave 2 has been continued, so there’s a new local high. Previously, we’ve got a wedge pattern in wave 1. The main bullish target is 5/8 MM Level, which could be a departure point for wave 3. As we can see on the four-hours chart, there’s a possible diagonal triangle in wave [c] of 2. Wave (iii) has been ended near 7/8 MM Level. Therefore, bears are likely going to deliver wave (iv) in the short term. More: https://fbs.com/analytics/articles/eur%2fusd%3a_wave_2_on_the_way_678

USD/JPY: BULLS GOING TO TEST LAST HIGH AGAIN 13:03 24.04.2017 A new “Window” has just arrived, but the price faced a resistance on the 55 Moving Average. Also, we’ve got a “Belt Hold”. If this pattern confirms and a pullback from the 89 Moving Average happens, there’ll be an opportunity to have a local decline. The last “Belt Hold” has been confirmed enough. However, there’s a bullish “Hammer”, so the market is likely going to test the local high once again. If any reversal pattern arrives afterwards, bears will probably try to achieve today’s “Window”. More: https://fbs.com/analytics/articles/usd%2fjpy%3a_bulls_going_to_test_last_high_again_677

EUR/USD: BULLISH "WINDOW" 13:00 24.04.2017 There’s a new “Window”, but we’ve got a bearish “Belt Hold” at the local high. Nevertheless, the middle of the last huge black candle is likely going to act as a resistance. If a pullback from this level happens, there’ll be an opportunity to have a decline towards today’s “Window”. We’ve got a “Three Black Crows”, which has been confirmed. Also, the price has tested the upper side of today’s “Window”. Therefore, the market is likely going to test the closest resistance level during the day. More: https://fbs.com/analytics/articles/eur%2fusd%3a_bullish_%22window%22_676

OIL MARKET OVERVIEW 10:24 24.04.2017 Oil prices regained their footing on Monday following substantial losses they experienced last week as an OPEC-led committee pledged to back extension of the supply cut deal and as investors favored riskier assets after the first round of the election. Emmanuel Macron securing a spot in the second round avoided the horrific scenario of a contest between anti-EU Le Pen and the far-left Melenchon. The threats for the Euro area had been eliminated, and investors embraced more risk. A collective sense of relief that the Eurozone is over another hurdle resulted in a short-term risk-on rally. U.S. West Texas Intermediate (WTI) crude oil futures jumped above $50 from $49.18 seen last Friday. Brent oil futures peaked to $52.95 after following $51.55 last week. To the present day, OPEC and non-OPEC members struck a tentative agreement to sideline their production beyond June, but there is still no consensus on the timing of the agreement and countries’ individual commitments. The next meeting of the OPEC members will be held in Vienna on May 25. Just a small reminder, OPEC countries and other major oil producers are committed to reducing oil stockpiles and all signatory parties participating in the output cut deal are committed to restoring the market’s stability in November, 2016. Up to date, compliance with the cuts has improved in March compared to the previous month (compliance to supply curbs was more robust in March (98%) compared to February’s 90% estimate). As energy ministers of the output deal cut signatories remind the markets about their intentions to curb oil supply, the oil prices will be heading upwards. Refusals to adhere to the cuts would become their headwinds. The current oil rally will likely be faltered once again as we see more signs of the US crude oil production revival. Last week, U.S. drillers added 5 rigs to oil fields, bringing them up to the count of 688, according to data from Baker Hughes Inc. US crude stockpiles fell last week said Energy Information Administration last Wednesday. But it happened mainly because US refineries increased their output (the gasoline stocks have increased). Another headwind for oil futures might be the issuance of the Trumps executive orders on energy and the environment later this week. The orders will make it easier for the US develop energy industry offshore, and will lead to increased production of US crude oil. More: https://fbs.com/analytics/articles/oil_market_overview__674

GBP/USD: BULLISH "PENNANT" 07:35 24.04.2017 The price is consolidating between the levels 1.2911 – 1.2774. Also, we’ve got a “Pennant”, so the market is likely going to achieve the closest resistance at 1.2911 – 1.2945 in the short term. If we see a pullback from this area, there’ll be an opportunity to have a bearish correction in the direction of the nearest support at 1.2774 - 1.2727. There’s a consolidation, which is taking place between the nearest resistance at 1.2865 and the 34 Moving Average. At the same time, we’ve got a “Pennant” pattern, so bulls are likely going to test the next resistance at 1.2900 – 1.2911. However, if a pullback from these levels be on the table, bears will probably try to reach the 55 Moving Average. More: https://fbs.com/analytics/articles/gbp%2fusd%3a_bullish_%22pennant%22_670

EUR/USD: HUGE "BREAKAWAY GAP" 07:29 24.04.2017 We’ve got a huge “Breakaway Gap”, so the downtrend has been broken. Bulls faced a resistance at 1.0872, so we’ve got a bearish correction. Therefore, there’s an opportunity to have another upward price movement towards the next resistance at 1.0910, which is strengthened by the “Wedge’s” upper side. If a pullback from this level happens, the pair is likely going to test a support at 1.0759 – 1.0736. The last downward “Pennant” has been broken, so we’ve got a “Breakaway Gap”. Also, there’s a “V-Bottom” pattern, so the market is likely going to test the nearest resistance at 1.0905 – 1.0910. If we see a pullback from this area, there’ll be an opportunity to have a decline towards a support at 1.0777 – 1.0737. More: https://fbs.com/analytics/articles/eur%2fusd%3a_huge_%22breakaway_gap%22_669

USD/CHF: FRANC IS TRYING TO HIT PARITY LEVEL 07:03 24.04.2017 On the USD/CHF daily chart, the "bears" failed to settle down below the important support at 0.9945. It was a signal of their weakness. The bulls can realize the Wolf Waves pattern. For this to happen they need to rise above the parity level, and then successfully test the resistance at 1.004. On the USD/CHF hourly chart, after the realization of the downward triangle, the expanding wedge reversal pattern was formed. To complete it, the high at point 3 (parity) should be updated. It will be a basis for opening long positions. Recommendation: BUY 1, SL 0,9945 TP 1,002. More: https://fbs.com/analytics/articles/usd%2fchf%3a_franc_is_trying_to_hit_parity_level_668

USD/JPY: BULLS BENEFITED FROM THE GAP FORMATION 06:57 24.04.2017 On the USD/JPY daily chart, the bulls with the help of a gap reached the resistance at 110.2. It corresponds to the lower boundary of the 110.2-111.55 consolidation range. As a result, the Wolf Waves pattern was formed. A breakout of 110.2 and 111.15 levels can lead to the implementation of 112.5 and 112.9 targets. On the USD/JPY hourly chart, there is a formation of the Dragon reversal pattern. Update of the high of today's trading day (110.55) or closing of the gap with a subsequent rebound from the upper boundary of the previous downward trading channel will create the prerequisites for opening long positions. Recommendations: BUY 110,55 SL 110 TP 112,5, BUY 109,5 SL 108,95 TP1 111,45 TP2 112,5. More: https://fbs.com/analytics/articles/usd%2fjpy%3a_bulls_benefited_from_the_gap_formation_667

MORNING BRIEF FOR APRIL 24 06:39 24.04.2017 The biggest winners from the French elections were probably the pollsters who managed to forecast the outcome of the runoff. Let’s pat them on the back; they did a great job having predicted that centrist Emmanuel Macron will face off against far-right National Front leader, Marine Le Pen on May 7. The euro jumped the most in a month in Tokyo session. Exchange rates across the trading desk moved sharply in the thin liquidity conditions. The yen retreated; volatility ebbed, and gold slumped significantly; most of the major currencies opened with the gaps. Source: Bloomberg.com Then, we saw a gap filling across the trading desk. EUR/USD tumbled to 1.0820 from 1.0917 hit in the early trading hours. Towards the end of the week, the single European currency may extend its losses as European Central Bank’s ultra-loose stance is set to remain unchanged at the upcoming monetary policy meeting. USD/JPY was one of the biggest gainers after the French election results were published. The pair rallies to 110.60, then retraced to 109.80 as traders turned to rising tensions on the Korean peninsula once French election tumult disappeared. There is talk that North Korea may test an intercontinental ballistic missile or even nuclear device tomorrow celebrating the 85th anniversary of the founding of its military forces. The yen may flex its muscles throughout the day; it may extend its gains to at least 108.85 (near 200-day MA and 50% Fibo level traced from last year low). Aussie fell from its earlier high of 0.7585 to 0.7535. It may slide further towards 0.7520 (100-day MA). An additional drop may come after Trump delivers more details on his pro-growth and tax policies. The British pound was also a loser of the Asian session. It dropped to 1.2778 after rallying to 1.2845. UK PM minister Theresa May will likely have to negotiate new EU-UK terms of cooperation/trade with a ?lose-knit, team minded Merkel/Macron team. And these two EU leaders will be the hard nuts to crack. The economic calendar for the pair is light today. Loonie gained some strength in Tokyo morning. USD/CAD dipped to 1.3460 on the session. There is a scope for extension its gains. Oil prices recouped of last week’s hefty losses as the OPEC-led committee was said to back prolonging supply cuts. Crude oil futures will be vulnerable this week as Trump is set to sign several executive orders on energy and the environment this week whicha would make it easier for the US to develop energy on and offshore. In the preceding weeks, US production and inventory growth was the major headwinds for oil prices. More: https://fbs.com/analytics/articles/morning_brief_for_april_24_666

Key option levels for Friday, April 21st 4/21/2017 If you have any questions or requests fill out the feedback form. EUR/USD Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 131 841 ? + 576 006 ? Closest resistance levels 1.0737;1.0785; 1.0808; 1.0846 Closest support levels 1.0720; 1.0686; 1.0650; 1.0603 Trading recommendations Baseline scenario Short EUR/USD below 1.0720 or from 1.0737, with target points at 1.0686 and 1.0650 Alternative scenario Moving above 1.0737 can be considered as a signal to Buy the pair, with target at 1.0785 and 1.0808 AUD/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 95 ? + 21 ? Closest resistance levels 0.7549; 0.7590; 0.7622; 0.7661 Closest support levels 0.7515; 0.7480; 0.7454; 0.7421 Trading recommendations Baseline scenario Short AUD/USD below 0.7515, with the target points at 0.7480 and 0.7454 Alternative scenario Moving above 0.7549 can be considered as a signal to Buy the pair, with target at 0.7590 and 0.7622 more; https://new.fxbazooka.com/analytics/13110

NZD/USD: bulls were spooked by their own audacity 4/21/2017 On the NZD/USD daily chart, the bulls managed to kick the quotes out of the downward trading channel. But the bears were strong enough not to allow the bulls to move higher. There is a consolidation range within 0.696-0.705 levels. A breakout of its lower border will allow us to count on the implementation of 113% and 161.8% targets in the Crab and AB = CD patterns. On the NZD/USD hourly chart, the expanding wedge pattern has been formed. A rollback towards 38.2% and 50% levels from the 4-5 wave can be used for opening short positions. Recommendations: SELL 0,701 SL 0,7065 TP 0,691, SELL 0,702 SL 0,7075 TP 0,692, BUY 0,7045 SL 0,699 TP 0,715. More: https://new.fxbazooka.com/analytics/13109

GBP/USD: pound drew an inner bar 4/21/2017 On the GBP/USD daily chart, there is a consolidation after a sudden rebound. After a bar with a wide range, two inner bars were formed. These are the boundaries of the trading range of 1.277-1.286. A breakout of the support will increase the risks of the correction towards 1.272 and 1.259. A successful test of the resistance will lead to the continuation of the rally. On the GBP/USD hourly chart, the "Splash and ledge" pattern and triangle were formed. A breakout of the borders of the triangle and exit of quotes from the consolidation range of 1.277-1.285 will allow us to determine a further movement of the pair. Recommendations: SELL 1,277 SL 1,2825 TP 1,26, BUY 1,285 SL 1,2795 TP 1,305. More: https://new.fxbazooka.com/analytics/13108

Key option levels for Thursday, April 20th 4/20/2017 If you have any questions or requests fill out the feedback form. EUR/USD Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 66 285 ↑ + 210 054 ↑ Closest resistance levels 1.0785; 1.0808; 1.0846; 1.0872 Closest support levels 1.0738; 1.0688; 1.0651; 1.0603 Trading recommendations Baseline scenario Short EUR/USD below 1.0738 or from 1.0785, with target points at 1.0688 and 1.0651 Alternative scenario Moving above 1.0785 can be considered as a signal to Buy the pair, with target at 1.0808 and 1.0846 USD/JPY Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 65 ↑ + 105 ↑ Closest resistance levels 109.33; 109.58; 109.89; 110.27 Closest support levels 108.96; 108.45; 108.08; 107.86 Trading recommendations Baseline scenario Short USD/JPY below 108.96, with target points at 108.45 and 108.08 Alternative scenario Moving above 109.33 can be considered as a signal to Buy the pair, with target at 109.58 and 109.89 AUD/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 92 ↑ + 120 ↑ Closest resistance levels 0.7531; 0.7552; 0.7581; 0.7617 Closest support levels 0.7516; 0.7485; 0.7458; 0.7437 Trading recommendations Baseline scenario Short AUD/USD below 0.7516, with the target points at 0.7485 and 0.7458 Alternative scenario Moving above 0.7531 can be considered as a signal to Buy the pair, with target at 0.7552 and 0.7581 More: https://new.fxbazooka.com/analytics/13105

EUR/USD: bulls took a break 4/20/2017 On the EUR/USD daily chart, there was a rebound of quotes from the lower boundary of the medium-term rising channel with the subsequent breakout of the upper boundary of the short-term downward channel. Bulls managed to settle above the important level of 1.0695. As a result, an internal bar was formed. A breakout of its upper border near 1.0738 will create prerequisites for the continuation of the rally. In contrast, a successful test of the support at 1.0695 will allow bears to regain their control over the pair. On the EUR/USD hourly chart, the exit of quotes from the triangle followed by the activation of the inverted Shark pattern increased the risks of implementation of 88.6% target (1.087). But first, the bulls need to break the resistance at 1.0738. More: https://new.fxbazooka.com/analytics/13103

USD/CAD: bears faced with the wedge 4/20/2017 On the USD/CAD daily chart, there was a false breakout of the lower border of the upward trading channel. The failure of the bears to keep quotes above the level of 1.3306 showed their weakness. If the bulls manage to test the diagonal resistance in the form of the upper border of the downward medium-term channel, there might be a continuation of the rally. On the USD/CAD hourly chart, the expanding wedge pattern was formed. A rollback of prices towards 23.8%, 38.2% and 50% levels of the 4-5 wave can be used for the opening of long positions. But first, the point 5 should be formed. Recommendations: BUY 1,3425 SL 1,337 TP 1,3575 BUY 1,3385 SL 1,333 TP 1,357. More: https://new.fxbazooka.com/analytics/13104

Key option levels for Wednesday, April 19th 4/19/2017 If you have any questions or requests fill out the feedback form. USD/JPY Main trend Short-term period Medium-term period Bullish Bearish Changes in the open interest + 3 438 ? + 1 055 ? Closest resistance levels 108.80; 109.21; 109.49; 109.83 Closest support levels 108.05; 107.82; 107.63; 107.38 Trading recommendations Baseline scenario Long USD/JPY above 108.80 or from 108.65, with target points at 109.21 and 109.49 Alternative scenario Moving below 108.05 can be considered as a signal to Sell the pair, with target at 107.82 and 107.63 USD/CAD Main trend Short-term period Medium-term period Bearish Bullish Changes in the open interest + 13 ? + 1 072 ? Closest resistance levels 1.3437; 1.3484; 1.3548; 1.3624 Closest support levels 1.3405; 1.3376; 1.3335; 1.3308 Trading recommendations Baseline scenario Short USD/CAD below 1.3405, with the target points at 1.3376 and 1.3335 Alternative scenario Moving above 1.3437 can be considered as a signal to Buy the pair, with target at 1.3484 and 1.3548 AUD/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 0 + 9 ? Closest resistance levels 0.7538; 0.7564; 0.7588; 0.7608 Closest support levels 0.7513; 0.7490; 0.7460; 0.7424 Trading recommendations Baseline scenario Short AUD/USD below 0.7513 (or from 0.7538), with the target points at 0.7490 and 0.7460 Alternative scenario Moving above 0.7538 can be considered as a signal to Buy the pair, with target at 0.7564 and 0.7588 More: https://new.fxbazooka.com/analytics/13102

Gold prices took a break 4/19/2017 On the daily chart of gold, there is a desperate struggle for an important level $1,286. There is an intermediate 127.2% target in the AB = CD pattern. The bulls' win will lead to the continuation of the rally. In contrast, their defeat can lead to the development of the correction towards $1,260. On the hourly chart of gold, buyers need to test the upper border of the ledge in the "Splash and Ledge" pattern ($1,292). The drop of quotes below the support at $1,278 per ounce will activate the expanding wedge pattern and can potentially lead to the pullback towards $1,260. Recommendations: hold longs (BUY $1278 SL $1263 TP1 $1312 TP2 $1340), BUY 1260 SL 1245 TP 1300. More: https://new.fxbazooka.com/analytics/13101

AUD/USD: Aussie chooses south 4/19/2017 On the AUD/USD daily chart, the failure of the bulls to test the resistance at 0.7612 was a signal of their weakness. Quotes returned to support at 0.7523. If it is tested successfully, targets 127.2% and 161.8% in the "Crab" pattern will likely be implemented. On the AUD/USD hourly chart, quotes are moving within the downward trading channel. The bears remain their control over the pair. Positions of big buyers are located near the 0.7515 and 0.7485 marks. If the levels are tested successfully, the sellers might count on the restoration of the downtrend. More: https://new.fxbazooka.com/analytics/13100

NZD/CAD REVERSED FROM POWERFUL SUPPORT ZONE 15:41 17.04.2017 NZD/CAD reversed from powerful support zone Next buy target - 0.9450 NZD/CAD recently revered up sharply from the powerful support zone lying between the support levels 0.9270 and 0.9220 (which also reversed the price sharply in December and January). This support zone was strengthened by the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer – which started the active minor correction ii. Given the bullish divergence on the daily Stochastic indicator - NZD/CAD is expected to rise further to the next buy target at the resistance level 0.9450 (top of the previous minor corrective wave ii). More: https://fbs.com/analytics/articles/nzdcad1704

NZD/USD RISING INSIDE IMPULSE WAVE 3 AND (3) 15:39 17.04.2017 NZD/USD rising inside impulse wave 3 and (3) Next buy targets - 0.7070 and 0.7130 NZD/USD continues to rise sharply inside the minor impulse wave 3, which started earlier from the strong support zone lying between the pivotal support level 0.6900 (which also reversed the price sharply in December and March, as can be seen below) and the lower daily Bollinger Band. The active minor impulse wave 3 belongs to the intermediate impulse (3) of the primary impulse wave ③ from December. NZD/USD is expected to rise further to the next buy target at the resistance level 0.7070 (top of the earlier b-wave) – the breakout of which can lead to further gains toward 0.7130 (former monthly low from February). More: https://fbs.com/analytics/articles/nzdusd1704

EUR/USD: BEARS READY FOR WAVE (III) 12:38 17.04.2017 We’ve got a flat pattern in wave (ii). Also, there’s a bearish impulse in wave (i). Therefore, bears are likely going to deliver an impulse in wave (iii) in the short term. The main intraday target is -2/8 MM Level. There’s a diagonal triangle in wave c of (ii), which led to form a wedge in wave i of (iii). Wave ii is likely going to end in the coming hours. So, if a pullback from 7/8 MM Level happens, there’ll be time for wave iii of (iii). More: https://fbs.com/analytics/articles/eurusd_wave_april_17