On H1, the inability of the bulls to lead the pair outside of the descending channel and formation of the bar with the long upper wick points at buyers’ weakness. Realization of the inverted 5-0 pattern is delayed.
On H1, NZD/USD reached the targets if the “Widening wedge”, “Three Indians” and 1-2-3. If the pair renews correction low with the following decline below the lower border of an uptrend channel, risks of reaching 88.6% target of a Shark pattern will increase.
On the daily chart, the inability of bulls to push the pair out of the uptrend channel and formation of the bar with a long upper wick points at their weakness. It strengthens the risks of correction at least to 0.7937-0.7954.
On H1, AUD/USD reached the targets of “Widening wedge”, “3 Indians” and 1-2-3. The break of support at 0.8028 and the pair’s leaving the uptrend channel will increase the risks of the pair reaching 88.6% target of the Shark pattern.
Technical levels: support – 1.2000, 1.1980; resistance – 1.2075.
Trade recommendations:
Buy — 1.1980; SL — 1.1960; TP1 — 1.2030; TP2 – 1.2075.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan and Kijun; the prices are on the support of Tenkan-sen and Kijun-sen.
AUD/USD: AUSSIE LOOKING FOR SUPPORT OF KIJUN
07:42 11.09.2017
Technical levels: support – 0.8030; resistance – 0.8080, 0.8120.
Trade recommendations:
Buy — 0.8030; SL — 0.8010; TP1 — 0.8080; TP3 — 0.8120.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising lines; the market is seeking the support on Kijun-sen for continue uptrend.
We've got a "V-Top", so the price is declining. In this case, we should keep an eye on the nearest support at 1.1978 - 1.1949 as an intraday target. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of the closest resistance at 1.2129.
The 34 Moving Average has acted as support, so the price is consolidating. Therefore, the market is likely going to test the 89 MA in the short term. However, if a pullback from this line happens, we could have another bullish rally towards the next resistance at 1.2080 - 1.2129.
Bulls faced with resistance at 1.3223, so the price tested the nearest support at 1.3164. In this case, the pair is likely going to rise in the direction of the next resistance at 1.3249 - 1.3265, which means we could have a new local high pretty soon.
The price is consolidating between the levels 1.3223 - 1.3164. Also, there's a "Pennant" pattern, so the market is likely going to achieve the nearest resistance at 1.3249 - 1.3265 soon. If a pullback from these levels happens, we could have a decline towards the closest support at 1.3164 - 1.3149.
EUR/USD: PULLBACK FROM 7/8 MM LEVEL
09:05 11.09.2017
There's a pullback from 7/8 MM Level, so wave may have been formed. In this case, we could have a bearish correction in the short term. The main target for wave [ii] is 6/8 MM Level, which could be a departure point for wave [iii].
8/8 MM Level has acted as resistance, so we've got a bearish impulse in wave (a). Also, there's a pullback from 5/8 MM Level, so the price is rising. If a pullback from 7/8 MM Level happens, bears are likely going to deliver wave (c) of [ii].
The price reached the upper "Window", but there isn't any reversal pattern so far. Moreover, there's a possible bullish "Three Methods". So, we could have the price even higher in the short term. If any bearish pattern forms afterwards, there'll be an opportunity to have a decline.
The last bullish "Morning Star" led to the current upward price movement. At the same time, we've got a "Three Methods" pattern, so the pair is likely going to reach the 89 Moving Average during the day.
We've got a bearish "High Wave", which has been confirmed. In this case, the market is likely going to test the nearest support. If a pullback from this level happens, there'll be an opportunity to have just another upward price movement.
The 34 Moving Average is acting as support, so we've got a bullish "Hammer" at the local low. However, this pattern doesn't have confirmation, so the price is likely going to continue declining towards the 55 MA.
XAU/USD: GOLD APPROACHED A CRITICAL LINE
07:13 12.09.2017
Recommendation:
SELL $1323
SL $1338
TP1 $1305 TP2 $1282 TP3 $1272
On the daily chart, the inability of the bulls to settle above 161.8% target of AB=CD points at their weakness. A break of support at $1320,4-1321,6 will strengthen the risks of correction to at least the lower border of the uptrend channel.
On H1, further dynamics of the pair will depend on the test of support at $1323. Success will allow bears to develop a move towards 88.6% and 113% targets of the “Shark” pattern. Failure will create grounds for the uptrend resumption.
USD/CAD: WILL THE TRIANGLE STOP BEARS?
07:19 12.09.2017
Recommendation:
BUY 1.2165
SL 1.211
TP1 1.229 TP2 1.2365
On the daily chart, USD/CAD approached 200% target of AB=CD. If bears manage to conquer support at 1.2045, risks of continuation of the decline to 1.1960 and 1.1820 will increase. On the other hand, pair’s return above resistance at 1.2185 will create grounds for a correction.
On H1, USD/CAD formed a triangle. A break of its upper border will increase the possibility of a pullback towards the lower and the upper border of the earlier gap.
EUR/USD: "TRIPLE BOTTOM" PUSHED PRICE TO 55 MA
08:57 12.09.2017
The main trend is still bullish. The 34 Moving Average has acted as support, so the price is likely going to reach the nearest resistance at 1.1975 - 1.2003. If a pullback from these levels happens, there'll be an opportunity to have a decline towards the next support at 1.1909 - 1.1892.
We've got a "Triple Bottom", which pushed the price to 55 Moving Average. So, the market is likely going to achieve the closest resistance area at 1.2028. If we have a pullback from this level, bears will try to test another support at 1.1934 - 1.1907.
The price is consolidating between the levels 1.3223 - 1.3164. At the same time, there's a "Double Top" pattern, which has been confirmed. So, the last high could be tested once again in the short term, but bears are likely going to reach the nearest support at 1.3164 - 1.3136 afterwards.
We've got a confirmed "Double Top", but there's a pullback from support at 1.3164. Therefore, the pair is likely going to achieve the nearest resistance at 1.3190 - 1.3223. If a pullback from these levels happens, there'll be an option to have another decline in the direction of the next support at 1.3164 - 1.3149.
EUR/USD: [II] TAKING FORM OF ZIGZAG
11:00 12.09.2017
7/8 MM Level has acted as resistance, so there's developing wave [ii]. If the price fixates above 6/8 MM Level little later on, there'll be an opportunity to have just another bullish impulse. The main target for wave [iii] is 8/8 MM Level.
Wave [ii] is taking the form of a zigzag. If a pullback from 3/8 MM Level happens in the short term, bulls are likely going to deliver an upward impulse in wave (i). So, we should keep an eye on 5/8 MM Level as an intraday target.
The price reached the 89 Moving Average, but there isn't any reversal pattern so far. In this case, bulls are likely going to reach the next "Window", which could be a departure point for a downward correction.
The last bullish "Engulfing" pattern pushed the price even higher. Also, there isn't any reversal pattern, cause all the last candles are bullish. So, the market is likely going to continue moving up in the short term.
EUR/USD: BULLS GOING TO DELIVER CORRECTION
11:14 12.09.2017
We've got a bullish "Inverted Hammer", but this pattern remains unconfirmed. So, we could have the price a little bit lower in the short term. Anyway, bulls are likely going to deliver an upward correction afterwards.
The 55 Moving Average is acting as resistance, so there's a bearish "Doji", which has been confirmed enough. So, the lower "Window" is likely going to be tested during the day. If we have a pullback from this level, there'll be time for bullish correction.
US DOLLAR: A PULL BACK COMING SOON?
01:01 13.09.2017
US Dollar Index has been following to the bears against a basket of major currencies and it’s approaching to the 200 SMA at H1 chart, nearing to the Fibonacci level of 50% (92.14). If the index manages to break above that area, we can expect an acceleration to test September 1st highs at 92.80, at which is located the Fibo level of 78.6%.
However, if we see a pull back at the current stage, the index could plummet towards the -23.6% level at 90.42. RSI indicator remains in the positive territory.
EUR/USD: 3/8 MM LEVEL ACTED AS SUPPORT
07:24 13.09.2017
Wave [ii] may have been ended, cause there's a pullback from 6/8 MM Level. So, there's an opportunity to have wave [iii]. In this case, we should keep an eye on 8/8 MM Level as the next bullish target.
There's a possible zigzag in wave [ii]. 3/8 MM Level has acted as support, so the price is rising. Therefore, wave (i) of [iii] is likely going to move on towards 6/8 MM Level.
EUR/USD: EURO IS SUPPORTED BY CLOUD
07:38 13.09.2017
Technical levels: support – 1.1950, 1.1900; resistance – 1.2030, 1.2075.
Trade recommendations:
Buy — 1.1980/90; SL — 1.1960; TP1 — 1.2030; TP2 – 1.2075.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Kijun-sen; the prices are on the support of the Cloud.
Technical levels: support – 109.60, 109.10; resistance – 110.40.
Trade recommendations:
Sell — 109. 90; SL — 110.10; TP1 — 109.10; TP2 — 108.90.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; Dollar is going to positive area, but the market is overbought now.
