The main trend is still bullish. The 34 Moving Average has acted as support, so we've got a "V-Bottom" pattern on this line. Therefore, the market is likely going to reach the nearest resistance at 1.2042 - 1.2069 in the short term. If a pullback from this area happens, we could have a decline towards the next support at 1.1909.
Bears faced with support at 1.1907, so we've got a "V-Bottom" pattern, which led to the current consolidation. In this case, the pair is likely going to achieve the closest resistance at 1.2028 - 1.2042 during the day. Meanwhile, if we have a pullback from these levels, there'll be an opportunity to have a downward price movement towards another support at 1.1941 - 1.1934.
GBP/USD: MARKET GOING TO CLIMB EVEN HIGHER
07:56 13.09.2017
The last "Flag" pattern has been broken, so the price is rising. The main intraday target is the nearest resistance at 1.3345 - 1.3374. If a pullback from this area happens little later on, bears will try to test the closest support at 1.3277 - 1.3249.
The price is consolidating, but the market is likely going to climb even higher. Therefore, we should keep an eye on the next resistance at 1.3345 - 1.3374 as an intraday target, which could be a departure point for a bearish correction.
USD/CHF: FRANC GOT INTO DRAGON’S LAIR
08:42 13.09.2017
Recommendation:
BUY 0.9615 SL 0.956
TP1 0.9695 TP2 0.978 TP3 0.986
On the daily chart, USD/CHF formed a powerful reversal pattern “Triple bottom”. As a result, risks of a “Dragon” pattern increased, although bulls firstly need to get above resistance at 0.9615 and 0.9650.
On H1, USD/CHF keeps forming the “Dragon” pattern. Bullish movement will face at least one pullback (“Head of the Dragon”), although the pair may have already chosen its direction. As a result, buying on breakthroughs is the main strategy.
On the daily chart, GBP/USD keeps forming an AB=CD pattern. Its 127.2% target is near the line of “Three Indians”. This increases the risks of correction if bulls show weakness and fail to overcome important resistance at 1.3400.
On H1, a break above the level of 88.6% of the wave CD of the 5-0 pattern allowed bulls to resume the uptrend. The pair is currently forming “Spike and reversal with acceleration” and AB=CD.
USD/JPY: "EVENING STAR" THE UPPER "WINDOW"
11:42 13.09.2017
The price reached the 144 Moving Average, so there's a bearish "Doji", which hasn't been confirmed enough. Therefore, we could have a local upward correction in the short term, but bears are likely going to deliver another decline afterwards.
We've got a bearish "Evening Star" on the upper "Window". Considering confirmation of this pattern, the pair is likely going to achieve the Moving Averages during the day.
We've got an "Engulfing" and a "Belt hold" patterns on the 34 Moving Average. In this case, the market is likely going to test the nearest support once again. If a pullback from this level happens, we could have a bullish price movement towards the nearest "Window".
The price is consolidating near the Moving Averages. At the same time, we've got a bearish "Tweezers", but this pattern remains unconfirmed. So, the lower "Window" is going to act as support for the second time.
GBP/USD: POUND IS ON KIJUN’S SUPPORT
08:09 14.09.2017
Technical levels: support – 1.3180; resistance – 1.3280.
Trade recommendations:
Buy — 1.3200; SL — 1.3180; TP1 — 1.3280; TP2 — 1.3350.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with the rising lines; the prices are on the support of Kijun-sen.
AUD/USD: AUSSIE ENTERED INTO CLOUD
08:10 14.09.2017
Technical levels: support – 0.7965; resistance – 0.8040, 0.8070.
Trade recommendations:
Buy — 0.7990; SL — 0.7970; TP1 — 0.8040; TP3 — 0.8070.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, falling Kijun-sen; the prices are entered into the Cloud, nut found a support of Senkou Span B.
EUR/JPY: BULLS ARE TAMING A DRAGON
08:46 14.09.2017
Recommendations:
BUY 130.9
SL 130.35
TP1 132 TP2 133.9
BUY 130.65
SL 130.1
TP1 132 TP2 133.9
On the daily chart, the attempt of bulls to settle above 132 failed. To start correction, bears need to conquer diagonal support in the form of the lower border of an uptrend. The lack of progress in this will return the initiative to buyers.
On H1, EUR/JPY finishes forming “Dragon” pattern. Pullbacks toward support at the “Coil of the Dragon’s Tail” and the following rebounds will allow forming long positions
On the daily chart, bulls showed their strength as they managed to lead the pair outside of the long-term descending trend channel. Before that, the pair returned inside the medium-term uptrend channel. If buyers manage to keep the USD above 110.52, the odds of continuation towards 88.6% target of the Shark pattern will significantly increase.
On H1, USD/JPY formed a “Widening wedge” pattern. Pullbacks towards 23.6%, 38.2%, and 50% are usually used for opening longs.
The pair faced support at 1.1864, so the market is likely going to test the nearest resistance area at 1.1909 - 1.1925 in the short term. However, if a pullback from this area happens, we could have another decline in the direction of the next support at 1.1850 - 1.1822.
Bears found support at 1.1874 - 1.1864, so the price is rising. The main intraday target is the closest resistance at 1.1907 - 1.1925. Meanwhile, if we have a pullback from these levels, bears will probably try to reach the nearest support at 1.1851 - 1.1822.
We've got a "V-Top" pattern, which pushed the price to support at 1.3190. Therefore, the market is likely going to reach the nearest resistance at 1.3129 - 1.3249. If a pullback from this area happens, there'll be an opportunity to have a decline towards the next support at 1.3190 - 1.3159.
The 55 Moving Average has acted as support, so the price is consolidating. In this case, bulls are likely going to test the closest resistance at 1.3227 - 1.3249. However, if we see a pullback from this area, bears will probably try to achieve another support at 1.3186 - 1.3159.
USD/JPY: "WINDOW" ACTING AS SUPPORT
10:54 14.09.2017
The last "Window" has been broken, but the price is consolidating. Also, we've got bearish patterns such a "Harami" and a "Doji", but both of them haven't been confirmed enough. So, the 144 Moving Average is likely going to act as support.
We've got a bearish "Engulfing" at the last high, but this pattern hasn't been confirmed, cause the lower "Window" is acting as support. So, the price is likely going to test the nearest support level, which could be a departure point for another bullish rally.
EUR/USD: "HAMMER" ON THE LOWER "WINDOW"
11:01 14.09.2017
We've got a bullish "Tower", which has been confirmed. So, the market is likely going to test the nearest resistance. If a pullback from this level happens, we could have just another decline.
There's a bullish "Hammer" on the lower "Window". Considering confirmation of this pattern, the price is likely going to test the Moving Averages in the short term.
EUR/USD: WAVE 4 TURNED OUT TO BE BIGGER
11:20 14.09.2017
We've got a new local low, so wave 4 turned out to be bigger. Previously, an ending diagonal pattern has been formed in wave [v] of 3. So, there's an opportunity to have just another bullish impulse in wave 5. The main intraday target is 8/8 MM Level.
1/8 MM Level has acted as support, so wave 4 may have been formed like a zigzag. In this case, bulls are likely going to deliver an upward impulse in wave . If a pullback from 4/8 MM Level happens a little later on, we could have a local bearish correction.
On the daily chart, EUR/USD reached targets of “Three Indians”. If bulls fail to keep the pair above 1.1910, the odds of decline towards the lower border of the long-term uptrend channel and 88.6% target of the “Shark” pattern will increase.
On H1, a break below support at 1.1825 will create a ground for reaching 88.6% target of the “Shark” pattern. On the other hand, successful test of resistance at 1.1925 and the quote’s leaving the uptrend channel will be a signal of the new bullish attack.
EUR/GBP: BEARS ORGANIZED A REVERSAL
08:20 15.09.2017
Recommendation:
BUY 0.899
SL 0.8935
TP 0.907 TP2 0.92 TP3 0.93
On the daily chart, EUR/GBP formed “Spike and reversal with acceleration” pattern. A break of trendlines allowed bears to develop a correction towards 0.8765-0.8810. In that area, there’s a target of the “Shark” pattern and 50% level of the last long-term bullish wave.
On H1, EUR/GBP reached 261.8% target of AB=CD, that increases the risks of a pullback. At the same time, resistance at 0.8980-0.8985 looks very serious. Only in case of its successful test, bulls will get hope for the resumption of the long-term uptrend.
Technical levels: support – 1.1880; resistance – 1.1970, 1.2000.
Trade recommendations:
Buy — 1.1920; SL — 1.1900; TP1 — 1.1970; TP2 – 1.200.
Reason: narrow bullish Ichimoku Cloud with rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are found the support of Senkou Span B and the Bulls may go to upper bounds of the Cloud.
AUD/USD: AUSSIE CONTINUED CONSOLIDATION IN CLOUD
08:24 15.09.2017
Technical levels: support – 0.7965, 0.7985; resistance – 0.8040, 0.8070.
Trade recommendations:
Buy — 0.8000; SL — 0.7980; TP1 — 0.8040; TP3 — 0.8070.
Reason: narrowing bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market supported by Senkou Span B.
The 89 Moving Average has acted as support, so we've got a "Thorn" pattern on this line. Therefore, the price is consolidating between the 34 & 55 Moving Averages. So, the market is likely going to continue moving up towards the next resistance at 1.1975 - 1.2003. If a pullback from this area happens, we could have a decline in the direction of the nearest support at 1.1909 - 1.1892.
Bears faced with support at 1.1850, so there's a "Thorn" pattern, which pushed the price to resistance at 1.1925. In this case, the market is likely going to reach another resistance at 1.1975 - 1.2003 during the day. However, if we have a pullback from these levels, bears will probably try to catch the closest support at 1.1907 - 1.1892.
