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  1. #241
    pedagoreng is offline Senior Member
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    USD/CAD: BULLS TOOK A PAUSE

    Recommendation:

    BUY 1.2595

    SL 1.2540

    TP1 1.2790 TP2 1.3240

    On the daily chart, bulls manage to stay above support at 1.2460 and renew October low. As a result, the odds of the pair reaching 88.6% target of the inverted “Shark” pattern increased. It’s situated near 1.3240.



    On H1, USD/CAD broke above the upper border of the 1.2440-1.2555 consolidation range. This allowed bulls to form long positions. To continue the rally towards 224% target of AB=CD pattern, bulls need to keep the pair outside of the triangle.


  2. #242
    pedagoreng is offline Senior Member
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    EUR/USD: POSSIBLE DOUBLE ZIGZAG IN WAVE [II]



    Wave [ii] might have been ended, so there's an opportunity to have another upward impulse wave. Previously, an upward impulse in wave [i] was formed. The main target for wave [iii] is 6/8 MM Level.



    As we can see on the one-hour chart, there's a possible double zigzag in wave [ii]. 1/8 MM Level acted as support, so bulls are likely going to deliver an extension in wave (iii) of [iii].

  3. #243
    pedagoreng is offline Senior Member
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    GBP/USD: "DOUBLE BOTTOM" PATTERN



    There's a "Double Bottom" pattern, so the price is rising. The 34 Moving Average is likely going to act as support in the short term. If a pullback from this line happens little later on, there'll be an option to have a bullish price movement towards the next resistance at 1.3336 - 1.3398.



    The last "Pennant" pattern has been transformed into a "Double Bottom", which led to the current bullish rally. Finally, the price found resistance at 1.3286, so we could have a local downward correction during the day. The main target for bears is the closest support at 1.3221 - 1.3200. This area could be a departure point for another upward price movement.

  4. #244
    pedagoreng is offline Senior Member
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    GBP/USD: "TRIPLE TOP" PATTERN



    The last bearish "Double Top" led to the current decline. It seems like bears are ready to move on, so we could have a new local low soon. At the same time, there's an opportunity to have an upward correction afterwards. The main bullish target is the nearest resistance at 1.3182 - 1.3227.



    The market has plunged because of the last "Triple Top" pattern. The price is likely going to reach the next support at 1.3061 - 1.3047 during the day. If we have a pullback from this area, bulls will probably try to test the closest resistance at 1.3150 - 1.3182.

  5. #245
    pedagoreng is offline Senior Member
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    AUD/USD: AUSSIE CALLED A SHARK

    Recommendation:

    BUY 0.7685

    SL 0.7630

    TP 0.7775

    On the daily chart, AUD/USD reached convergence area of 0.7607-0.7732 (88.6% and 161.8% targets of the “Shark” and “Crab” patterns + 61.8% of the long-term descending wave). This together with the formation of a pin bar will increase the risks of a pullback.



    On H1, AUD/USD is forming the inverted “Spike and reversal with acceleration”. As long as the Australian dollar is trading above 0.7810, the situation will be controlled by bears. Triggering of the “Shark” pattern will increase the risks of a pullback to 88.6%.


  6. #246
    pedagoreng is offline Senior Member
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    EUR/USD: ZIGZAG IN WAVE (IV)



    There's a pullback from 2/8 MM Level, so wave (iii) might have been formed. Also, wave (iv) hasn't been finished yet, so we should keep an eye on 3/8 MM Level as an intraday target. If a pullback from this level happens, there'll be an opportunity to have another bearish impulse in wave (v) of [iii].



    Wave (iv) is taking the form of a zigzag. 3/8 MM Level has acted as resistance, so we could have wave b during the day. If a pullback from 2/8 MM Level happens little later on, bulls are likely going to deliver wave c of (iv).

  7. #247
    pedagoreng is offline Senior Member
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    EUR/USD: LEADING DIAGONAL IN WAVE A



    Wave (iv) has been developing since a pullback from 2/8 MM Level happens. It's likely that 3/8 MM Level is going to act as resistance once again. So, if we have another pullback from this level, there'll be an opportunity to have wave (v) of [iii].



    There's a leading diagonal in wave a, so bears are likely going to deliver wave b in the coming hours. If 6/8 MM Level acts as support, we could have another upward price movement, which could be wave c of (iv).

  8. #248
    pedagoreng is offline Senior Member
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    GBP/USD: CONSOLIDATION NEAR 34 MA



    The price has been consolidating since a pullback from resistance at 1.3336 happened. The main intraday target is the next resistance at 1.3370 - 1.3408. However, if we have a pullback from this area, there'll be an opportunity to have a decline towards the 89 Moving Average.



    There's a consolidation, which is taking place near the 34 Moving Average. It's likely that bears are going to test the 55 Moving Average during the day. If a pullback from this line happens, we could have another upward price movement in the direction of the next resistance at 1.3336 - 1.3370.

  9. #249
    pedagoreng is offline Senior Member
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    AUD/NZD REVERSED FROM RESISTANCE ZONE

    Next sell target - 1.1000

    AUD/NZD recently reversed down from the resistance zone lying between the multi-month resistance level 1.1300 (which has reversed numerous upward impulse waves from the end of 2014, as can be seen from the weekly AUD/NZD chart below) and the upper weekly Bollinger Band. Given the strength of the aforementioned resistance zone - AUD/NZD can be expected to fall further to the next sell target at the next support level 1.1000.


  10. #250
    pedagoreng is offline Senior Member
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    GBP/USD: CONFIRMED "V-BOTTOM" PATTERN



    There's a "V-Bottom" pattern, which has been confirmed, so the pair is likely going to test the 55 Moving Average soon. If we have a pullback from this line, bears will probably try to start another decline towards the last low.



    Bulls have broken the last "Pennant" pattern, so the price is rising. However, if a pullback from the nearest resistance at 1.3177 - 1.3182 happens afterwards, we could have a decline in the direction of the next support area.

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