On the daily chart, bulls are trying to catch hold of 0.8810 (50% of the last bullish wave). To counterattack in order to resume the uptrend, they need to conquer resistance at 0.8900. On the other hand, a break of support at 0.8775 will increase the risks of continuation of the decline.
On H1, a break of resistance at 0.8900 will create the potential for the realization of the “Dragon” pattern. However, for a start bulls have to defend current positions and form a “Double bottom”.
EUR/USD: PRICE GOING TO TEST 34 MA
09:50 22.09.2017
The 89 Moving Average has acted as support, so we've got a "High Wave" pattern, which pushed the price to the nearest resistance. In this case, the market is likely going to test the 34 MA, which could be a departure point for another upward price movement.
There's a "Shooting Star" at the local high, but this pattern hasn't been confirmed enough. Therefore, we're likely going to have a bearish correction towards the Moving Averages. If a pullback from these lines happens, bulls will probably try to reach the upper "Window".
USD/JPY: "WINDOW" ACTED AS RESISTANCE
09:52 22.09.2017
The upper "Window" has acted as resistance, so we've got a "Shooting Star" pattern, which has been confirmed. However, bulls are likely going to test the "Window" once again in the short term. If we have another pullback from this level, there'll be an opportunity to have a decline towards the Moving Averages.
The 55 Moving Average has acted as support, so we've got a bullish "Harami". Under this circumstance, the market is likely going to rise towards the last high during the day.
EUR/USD: BULLS GOING TO DELIVER WAVE 5
05:19 25.09.2017
There's a possible triangle pattern in wave 4. So, if the price fixates above 6/8 MM Level, bulls are likely going to deliver wave 5. In this case, we should keep an eye on 8/8 MM Level as an intraday target.
2/8 MM Level acted as support, so the triangle may have been ended. Therefore, we're likely going to have an upward impulse in wave in the coming hours. If another pullback from 5/8 MM Level arrives later on, there'll be an opportunity to have a local bearish correction.
AUD/USD: GAME WILL CONTINUE UNDER CLOUD
06:37 25.09.2017
Technical levels: support – 0.7930; resistance – 0.8000, 0.8040.
Trade recommendations:
Sell — 0.7960; SL — 0.7980; TP1 — 0.7900; TP3 — 0.7870.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen; the prices are in the negative area and the bears will continue selling the Aussie.
Technical levels: support – 1.3520; resistance – 1. 3600.
Trade recommendations:
Buy — 1.3540/50; SL — 1.3520; TP1 — 1.3650; TP2 — 1.3700.
Reason: bullish Ichimoku Cloud with rising Senkou Span B; a correctional dead cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the market supported by the Cloud and ready to make the new highs.
NZD/USD: BEARS RETURN TO THE GAME
10:23 25.09.2017
Recommendation:
SELL 0.728 SL 0.7335
TP 0.719 TP2 0.7105
TP3 0.705
On the daily chart, the inability of bulls to push the pair above the resistance level at 0.7280 was a signal of their weakness. In case of a break of the lower border of the short-term trend channel, bears will have a chance to form an AB=CD pattern.
On H1, NZD/USD there are pattern “Head and Shoulders” and “Shark”. Further dynamics of the pair will depend on bulls’ ability to keep the pair above support at 0.7185-0.7205. If they fail, triggering of the “Widening wedge” pattern will allow bears to continue correction.
On the daily chart, AUD/USD triggered Gartley pattern with a target at 78.6%. The necessary condition for its formation is the decline of the pair below support at 0.7937. On the other hand, if bulls manage to return the pair inside the bullish trend channel, a rally towards 161.8% of the AB=CD pattern will continue.
On H1, AUD/USD is forming a “Widening wedge” pattern. The decline of the pair below 0.7950 will be a signal for correction. Buying is possible from 78.6% and 88.6% of the wave 4-5.
There's a "V-Top" pattern, so a new "Breakaway Gap" was formed this morning. The 89 Moving Average is acting as support, but bears are likely going to test the next support at 1.1837 - 1.1822. If a pullback from this area happens, we could have an upward price movement towards the closest resistance at 1.1909 - 1.1925.
The downward trend has been broken, so the price is still declining. The main bearish target is the nearest support at 1.1837 - 1.1822. If we have a pullback from this area, there'll be an opportunity to have an upward correction in the direction of the closest resistance at 1.1897 - 1.1909.
The price is still consolidating between the levels 1.3652 - 1.3444. It seems like bears are going to test the next support at 1.3479 - 1.3444. However, if a pullback from this area happens later on, bulls will probably try to reach the nearest resistance at 1.3618 - 1.3625.
There's a possible developing "Rectangle" pattern, so the price is likely going to achieve the nearest support at 1.3444. Meanwhile, if we have a pullback from this level, we could have a bullish correction towards the closest resistance at 1.3618 - 1.3625.
We've got a bearish "Harami", but the last "Window" remains open. So, the market is likely going to continue declining towards the nearest support. If any bullish pattern arrives later on, we could have an upward correction.
The price reached the "Window", but there isn't any reversal pattern so far. Therefore, we could have just a local upward correction and a decline afterwards
Technical levels: support – 1.1800, 1.1725; resistance – 1.1875.
Trade recommendations:
Buy — 1.1800; SL — 1.1780; TP1 — 1.1850; TP2 – 1.1875.
Reason: bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; the prices are entered into the negative area, but there is a strong support on 1.1800 and the market is oversold.
USD/JPY: DOLLAR IS IN CORRECTION TO CLOUD
07:30 26.09.2017
Technical levels: support – 111.40, 111.10; resistance – 111.90, 112.20.
Trade recommendations:
Buy — 111.40; SL — 111.20; TP1 — 111.90; TP2 — 112.20.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with narrow channel Tenkan-Kijun; the prices are breaking down the Kijun’s support and in correction local trend to the Cloud.
EUR/USD: BEARS FACED WITH SUPPORT
07:59 26.09.2017
The 89 Moving Average has been broken, so there's a new local low. In this case, the market is likely going to continue declining towards the nearest support at 1.1837 - 1.1822. If a pullback from this area happens, we could have an upward correction in the direction of the closest resistance at 1.1925 - 1.1952.
Bears faced with support at 1.1837, so the price is consolidating. Therefore, we should keep an eye on the nearest resistance at 1.1864 - 1.1874 as an intraday target. Meanwhile, if we have a pullback from these levels, bears will probably try to catch another support at 1.1837 - 1.1822.
The price is consolidating between the levels. Also, there's a bullish "Wedge" pattern, so the pair is likely going to test the nearest support at 1.3444 - 1.3404. If a pullback from this target happens, there'll be an opportunity to have an upward price movement in the direction of the next resistance at 1.3625 - 1.3681.
The 89 Moving Average has acted as support, so we could have a local upward correction. However, if the 34 MA acts as resistance, bears are likely going to reach another support at 1.3404 afterwards.
EUR/USD: BEARISH "HARAMI" LED TO DECLINE
12:19 26.09.2017
The last bearish "Harami" led to a decline. Also, there's a "Three Methods" pattern, so the market is likely going to continue falling down towards the nearest support area in the short term.
There isn't any reversal pattern so far, but we could have a local upward correction. Anyway, bears are likely going to push the price even lower afterwards.
There are a "Shooting Star" and a "Harami" patterns, which both have been confirmed. So, we should keep an eye on the 55 Moving Average as an intraday target.
The 89 Moving Average has acted as support, so we've got a bullish "High Wave" pattern on this line. In this case, the pair is likely going to test the 34 MA, which could be a departure point for another decline.
USD/CHF: FRANC HAS DRAWN A TRIANGLE
07:09 27.09.2017
Recommendation:
BUY 0.9745 SL 0.969
TP 0.9845, SELL 0.965
SL 0.9705 TP 0.9585
On the daily chart, USD/CHF keeps forming the “Dragon” pattern. Renewal of September high will allow to expect process growth towards the curl of the Dragon’s tail and the upper border of the descending trend channel.
On H1, USD/CHF formed a triangle. A successful test of its upper border and resistance at 0.9745 will increase the odds of the rally’s continuation. On the other hand, a break below the triangle’s lower border, the uptrend channel, and support at 0.9650 will trigger a correction.
GBP/USD: BEARS ENTERED INTO CLOUD
07:17 27.09.2017
Technical levels: support – 1.3310, 1.3255; resistance – 1. 3560.
Trade recommendations:
Buy — 1.3260; SL — 1.3240; TP1 — 1.3440; TP2 — 1.3560.
Reason: bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, with the falling lines; the market entered into the cloudy area and may go lower to the support of Senkou Span B.
Technical levels: support – 0.7830; resistance – 0.7900, 0.7940.
Trade recommendations:
Buy — 0.7830; SL — 0.7810; TP1 — 0.7900; TP3 — 0.7870.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen; the prices are in the oversold area; strong support on 0.7830.
