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

  1. #4201
    riki143 is offline Senior Member
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    GBP/USD: RESISTANCE WAITING FOR BULLS
    08:59 19.06.2017



    The price is consolidating under the 34 Moving Average, so there's a possible developing "Rising Wedge" pattern. Under this circumstances, bears are likely going to test the nearest support at 1.2738 - 1.2705. If a pullback from this area happens, there'll be an opportunity to have a bullish price movement in the direction of the next resistance at 1.2768 - 1.2793.



    There's a consolidation, which is taking place along the Moving Averages, so bulls are likely going to achieve the closest resistance at 1.2804 - 1.2817 in the coming hours. However, if we have a pullback from this area, the pair will probably try to catch support at 1.2738 - 1.2705.

    More:
    https://fbs.com/analytics/articles/g...for_bulls_1677

  2. #4202
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    EUR/USD: EURO RETURNED AGAIN TO SSA
    05:34 19.06.2017

    Technical levels: support – 1.1160; resistance – 1.1210.

    Trade recommendations:

    Buy — 1.1220; SL — 1.1200; TP1 — 1.1300; TP2 – 1.1340.
    Sell — 1.1180; SL — 1.1200; TP1 — 1.1080; TP2 – 1.1060
    Reason: bearish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are returned to upper bounds of the Cloud after testing the support of Senkou Span B.



    More:
    https://fbs.com/analytics/articles/e...in_to_ssa_1666

  3. #4203
    riki143 is offline Senior Member
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    EUR/USD: "TOWER" AND "HIGH WAVE" PATTERNS
    12:14 19.06.2017



    The last "Tower" and "High Wave" patterns led to the current upward price movement. It seems like the market is likely going to rise even higher in the short term. If any bearish pattern arrives afterwards, there'll be an opportunity to have a decline towards the nearest support.



    The price is consolidating along the "Window". Also, there's a bullish "Three Methods", which hasn't been confirmed yet. Therefore, the market is likely going to continue moving up during the day.

    More:
    https://fbs.com/analytics/articles/e..._patterns_1678

  4. #4204
    riki143 is offline Senior Member
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    USD/JPY: SUPPORT BY THE NEAREST "WINDOW"
    12:16 19.06.2017



    The last bullish "Engulfing" has been confirmed strongly, but we've got a bearish "Engulfing", which has a quite weak confirmation. So, the pair is likely going to test the 21 Moving Average in the short term. If a pullback from this line happens, we could have another bullish price movement.



    There's support by the nearest "Window". At the same time, we've got a bullish "Doji", which hasn't been confirmed yet. So, the current correction is likely going to be continued towards the 89 Moving Average.

    More:
    https://fbs.com/analytics/articles/u...window%22_1679

  5. #4205
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    EUR/USD: WAVE (III) ABOUT TO END
    12:20 19.06.2017



    Wave 2 may have been formed, cause there's a pullback from 4/8 MM Level. Also, there's a bearish impulse in wave (i), so the price is rising in wave (ii). If we've got another pullback from 4/8 MM Level, bears are likely going to deliver wave (iii) in the short term.



    The price has been rising since a pullback from 1/8 MM Level was formed. The main intraday target is 4/8 MM Level, which could be a departure point for another decline in wave (iii).

    More:
    https://fbs.com/analytics/articles/e...ut_to_end_1680

  6. #4206
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    AUD/USD: AUSSIE READY TO GO HIGHER
    05:35 20.06.2017

    Technical levels: support – 0.7580-0.7600; resistance – 0.7670, 7700

    Trade recommendations:

    Buy — 0.7600; SL — 0.7580; TP1 — 0.7670; TP2 — 0.7700.
    Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen and Kijun-sen; the prices supported by Kijun-sen and the Cloud.



    More:
    https://fbs.com/analytics/articles/a...go_higher_1697

  7. #4207
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    USD/JPY: DOLLAR IS OVERBOUGHT
    05:37 20.06.2017

    Technical levels: support 111.20, 110.50; resistance 111.90/112.00.

    Trade recommendations:

    Sell 111.90; SL 120.10; TP1 111.20; TP2 110.500.
    Reason: weak bullish Ichimoku Cloud, horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; a market is overbought and expected a correction movements.



    More:
    https://fbs.com/analytics/articles/u...verbought_1698

  8. #4208
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    MORNING BRIEF FOR JUNE 20
    05:49 20.06.2017

    Fed Dudley was a superstar of yesterday’s trading sessions. In the absence of any significant economic data overnight, the market’s focus was on Fed member Dudley who gave an upbeat assessment to the US economy and forecasted a further increase in inflation rate due to tightening of the labor market. He also noted that Fed withdraws its monetary policy accommodation very judiciously, gradually so that it wouldn’t cause a recession. Dudley’s hawkish tone allowed the USD to regain its strength that consequently reverberated across the trading desk. Federal Reserve Chicago head Charles Evans a little hampered the USD rally today after he said that he would like to see more data confirming the surging inflation rates before hiking once more time. He does support a gradual reduction of the Fed’s balance sheet. This allowed the USD not to lose its ground.



    USD/JPY rose to 111.65. Dudley’s effect was so strong that even Russia’s threat to target US warplanes in Syria failed to ruffle any risk-averse sentiment that would support safe-haven yen. The pair swiftly moved from neutral to bullish phase. We will be waiting for a further upside towards 112.00/112.20.

    EUR/USD ticked a little bit higher in Tokyo morning. It is trading along the 1.1155 level. The single currency needs to break below 1.1105 so as the pair moved into a bearish phase. We cannot speak of the restoration of the uptrend unless EUR moves clearly above 1.2000 and makes some additional gains.

    The British pound drifted lower during the EU-UK negotiations held yesterday in Brussels. Dudley’s comments sent it even lower to 1.2722. At the present moment, it is trading near 1.2740 against the USD. Today’s focus will be on the BOE’s Governor Mark Carney’s speech which is due at 10:30 am (MT time). Market participants will be curious to know his comments on the last week’s unexpected 5-3 vote to remain the cash rate unchanged. With annual consumer prices spiking to 2.9%, some BOE’s officials believe that a positive trade-off between supporting job and activity vs. returning inflation back to the target no longer exists. It would be interesting to know on whose side Carney is on.

    Aussie dropped to 0.7585 yesterday on the news that Moody decided to cut the credit rating of the big four Australian banks to AA3 from AA2. Again, Dudley’s speech increased AUD’s losses. In today’s session, AUD/USD felt better, it rose above 0.7600. From here, the upsurge towards 0.7680 will be complicated given the yesterday’s unexpected drop. So, we expect to rise at least to 0.7535 in the short-term.

    USD/CAD didn’t change its position from yesterday. It holds still at 1.3217. There was little support from oil prices as investors saw more signs of the rising crude production in the US, Libya, and Nigeria. OPEC-led output cuts seem to be no longer effective. Brent oil futures dropped to $46.78 yesterday. In Tokyo morning, they were trading near $49.95.

    More:
    https://fbs.com/analytics/articles/m...r_june_20_1699

  9. #4209
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    NZD/USD: KIWI VOTES FOR THE CORRECTION
    06:11 20.06.2017

    Recommendation: SELL 0,72 SL 0,7145 TP1 0,7085 TP2 0,701

    On the NZD/USD daily chart, target 88.6% of the inverted Shark pattern has been achieved. At the present moment, there is a risk of a pullback towards 38.2%, 50% and 61.8% levels of the CD wave as part of the transformation of the Shark pattern into the pattern 5-0. To restore the uptrend, the Bulls need to update the June high.



    On the NZD/USD hourly chart, a reversal pattern 1-2-3 and a triangle were formed. A break of the diagonal support near 0.72 will create the prerequisites for the correction towards 0.7085 (target 88.6% of the Bat pattern) or lower.



    More:
    https://fbs.com/analytics/articles/n...orrection_1701

  10. #4210
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    GBP/USD: POUND DREAMS OF WAVES
    06:13 20.06.2017

    Recommendations:

    BUY 1,291 SL 1,2855 TP1 1,291 TP2 1,294,

    SELL 1,264 SL 1,2695 TP1 1,251, TP2 1,245.

    On the GBP/USD daily chart, there is consolidation in the trading range of 1.264 - 1.28. If quotes move beyond the upper border of the range, the Wolfe Waves pattern will be realized. In contrast, a break of the support at 1.264 should activate the AB = CD pattern with a target 200% (1.245).



    On the GBP/USD hourly chart, the Bears' failure to return quotes to the borders of the triangle will indicate their weakness. In contrast, a successful test of the resistance at 1.281 may result in the pullback of quotes towards 1.291 and 1.294.



    More:
    https://fbs.com/analytics/articles/g..._of_waves_1702

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