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Thread: ForexPeoples Daily Technical Analysis for The Majors (4 Pair Forex)

  1. #4191
    riki143 is offline Senior Member
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    GBP/USD: CONSOLIDATION ALONG THE MA
    07:37 16.06.2017



    There's a developing "Rising Wedge", so the price faced resistance on the 34 Moving Average. In this case, the pair is likely going to decline towards support at 1.2738 - 1.2705. At the same time, if we see a pullback from these levels, there'll be an open door for another upward price movement towards resistance at 1.2768 - 1.2793.



    The price is consolidating along the Moving Averages. It seems like bulls are likely going to test the 89 Moving Average. If we see a pullback from this line, bears will probably try to achieve the next support at 1.2738 - 1.2705.

    More:
    https://fbs.com/analytics/articles/g...ng_the_ma_1648

  2. #4192
    riki143 is offline Senior Member
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    GBP/USD: OUTLOOK FOR JUNE 19 -23
    08:42 16.06.2017

    The British pound gained as more members of the Bank of England monetary policy committee voted for the rate increase. The BOE decided to maintain its monetary policy settings but at 5-3 vote. Three dissenters advocating rate hike became increasingly worried about the inflation that could easily reach 3% by the fall and thereby flatten British consumers’ wallets. Others seemed to be more concerned with hardships the UK may experience during the Brexit. Sterling rose to 1.2795 on the announcement and managed to retain its strength in subsequent sessions. In the US, the Fed raised its interest rate on Wednesday. But this didn’t help the USD to climb higher, as rate increase was overshadowed by extremely soft consumer prices and weaker retail sales released ahead of the FOMC meeting.

    Next week, the quotes will likely be led by political goings-on as the economic calendar for GBP/USD is very light. Brexit negotiations will start the week, as main negotiators agreed to launch them on Monday, June 19. Then, we will hear the speeches of several Fed’s officials that are set to uncover their further monetary policy projections. Datawise, pay attention to the UK public sector net borrowing report and the US jobless claims coming on Wednesday and Thursday respectively. The clamor surrounding the investigations into Russian interference in the 2016 US presidential elections will continue to weigh on the USD.

    GBP/USD rose to 1.2775 in the course of the past week. While downside momentum is still intact, the quotes have scope for a further extension to at least 1.2820. The solid resistance at 1.2835 (50-day MA) may prevent quotes from rising higher. The break of 1.2625 will be a good indication that we have moved into bearish phase. The next support from there can be found at 1.2560 (200-day MA).



    More:
    https://fbs.com/analytics/articles/g...e_19__23__1650

  3. #4193
    riki143 is offline Senior Member
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    EUR/USD: "TOWER" AND "HIGH WAVE"
    12:01 16.06.2017



    We've got a "Tower" and a "High Wave", but both patterns haven't been confirmed yet. So, the price is likely going to test the nearest resistance. If a pullback from this level happens, there'll be an opportunity to have another decline towards the closest "Window".



    There's a "High Wave", which has been confirmed enough. Also, we've got an unconfirmed "Shooting Star". In this case, we could have a local bearish correction, but bulls are likely going to test the Moving Averages afterwards.

    More:
    https://fbs.com/analytics/articles/e...h_wave%22_1652

  4. #4194
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    USD/JPY: "THREE METHODS" PATTERN
    12:05 16.06.2017



    We've got a bullish "Engulfing", which has been confirmed. Also, there isn't any reversal pattern so far, which means the pair is likely going to continue moving up in the short term.



    There's a "Three Methods" pattern, so bulls have broken the nearest "Window". Therefore, the market is likely going to continue moving up until any bearish pattern arrives.

    More:
    https://fbs.com/analytics/articles/u...2_pattern_1653

  5. #4195
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    EUR/USD: PULLBACK FROM 1/8 MM LEVEL
    15:19 16.06.2017



    A bullish impulse in wave [c] of 2 may have been formed. Also, there's a small bearish impulse in wave (i). In this case, we're likely going to have another decline in wave (iii) in the coming hours.



    We've got a pullback from 1/8 MM Level, so wave (i) may have been formed. The main target for wave (ii) is 4/8 MM Level, which could be a departure point for wave (iii).

    More:
    https://fbs.com/analytics/articles/e..._mm_level_1654

  6. #4196
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    GBP/USD: BULLS ENTERED INTO CLOUD
    05:35 19.06.2017

    Technical levels: support – 1.2750, 1.2660; resistance – 1.2805, 1.2840.

    Trade recommendations:

    Buy — 1.2780; SL — 1.2760; TP1 — 1.2840; TP2 — 1.2900.
    Sell — 1.2750; SL — 1.2770; TP1 — 1.2660; TP2 — 1.2610.
    Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices entered into the Cloud and the Bulls will going to the upper bound of the Cloud.



    More:
    https://fbs.com/analytics/articles/g...nto_cloud_1667

  7. #4197
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    MORNING BRIEF FOR JUNE 19
    05:59 19.06.2017

    USD/JPY is trading a little bit higher this morning at 110.95 as we got a surprise trade deficit from Japan. The current move is a part of a consolidation phase. The pair will likely trade sideways between the wide range of 110.3 – 111.10.

    Political turmoil in the US took another turn over the weekend. US President Donald Trump isn’t under investigation for obstruction by special counsel Robert Mueller, a member of the president’s legal team said, despite Trump’s repeated comments on Twitter that he is the target of a “witch hunt”. The NY Fed W. Dudley is due to speak later today. He might provide insight into whether the Fed is still on the track of raising its rate. Some analysts believe that he should sound very dovish and this should help the USD not to lose its ground.

    The British pound is trading near 1.2770 in the light of a deliberate act of Islamophobia performed. In Monday’s morning, a van ploughed into worshippers leaving a London mosque killing at least one person and injuring some others. The Brexit negotiations are about to start at 11 am in Brussels with UK PM Theresa May’s government already on the backfoot. Without solid support for her earlier hard Brexit policies, she will have to soften them. It is not a one-day talk. So, any comments about the talks’ progress shouldn’t produce significant moves.

    At the present moment, GBP/USD is trading at relatively muted manner. The prospects for further weakness has diminished but the slide towards 1.2730 is still possible. On the upside, there is a room for extension towards 1.2800/1.2830 levels.

    EUR/USD slipped a few points and reached 1.1195. From here, the pair will likely trade sideways within the wide range of 1.1140 – 1.1265. President Emmanuel Macron won a solid majority in the second round of France’s parliamentary election held on Sunday, sweeping aside traditional parties and gaining support for his pro-business reforms.



    The Australian dollar rose higher on Monday after the country’s central bank governor Philip Lowe said the country may achieve stronger growth in upcoming months. AUD/USD is trading against the level of 0.7615. The bullish phase is still intact. There is scope for further upsurge towards the resistances at 0.7670/0.7675.

    USD/CAD ticked higher in the Asian session. The pair almost reached the level of 1.3220. In commodities, Brent futures dropped to $47.20 on concerns about a supply glut amid faltering demand.

    More:
    https://fbs.com/analytics/articles/m..._june_19__1668

  8. #4198
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    EUR/USD: ?URO TESTED THE BORDERS OF CONSOLIDATION RANGE
    06:25 19.06.2017

    Recommendation: SELL 1,117 SL 1,1225 TP1 1,11 TP2 1,1025.

    On the EUR/USD daily chart, neither bulls nor bears managed to force the quotes out of the consolidation range 1.117-1.129. The retest of its upper or lower borders might be successful. If the resistance at 1.119 is broken, there will be a continuation of the rally towards 1.1345. In contrast, a successful test of the support at 1.117 will likely result in a drop towards 1.111 and below.



    On the EUR/USD hourly chart, the Expanding wedge pattern was formed. The growth of quotes towards 38.2%, 50% and 61.8% levels of the wave 4-5, followed by their return to 23.8%, 38.2%, and 50% levels can be used for opening positions for sale.

    More:
    https://fbs.com/analytics/articles/e...ion_range_1669

  9. #4199
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    USD/CHF: FRANC PLAYS WITH THE PATTERNS
    06:28 19.06.2017
    Recommendation: BUY 0,977 SL 0,9715 TP1 0,993 TP2 1,005.

    On the USD/CHF daily chart, the realization of the inverted Shark pattern continues. The growth of quotes above high (0.9765) of the internal bar may lead to the continuation of the rally. In contrast, a breakout of the support located at the low of the internal pattern (0.9725) may lead to the return of the quotes towards lower border of the downward trading channel.



    On the USD/CHF hourly chart, a target 78.6% of the Gartley pattern has been hit. Then, there was a rollback. If the high at 0.977 is updated, the Dragon pattern will continue its formation. On the upside, there is a target 161.8% of the Crab pattern,

    More:
    https://fbs.com/analytics/articles/u..._patterns_1670

  10. #4200
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    EUR/USD: BEARS GOING TO TEST NEAREST SUPPORT
    08:56 19.06.2017



    We've got a "Double Bottom", so the price tested resistance at 1.1204. Therefore, bears are likely going to test the nearest support at 1.1131 - 1.1108 in the short term. If a pullback from this area happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1165.



    There's a "Triple Top", which has been confirmed. In this case, the market is likely going to achieve the closest support at 1.1137 - 1.1131 during the day. If we have a pullback from these levels, bulls will have an option to reach resistance at 1.1165 - 1.1178.

    More:
    https://fbs.com/analytics/articles/e...t_support_1676

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