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Elliott wave analysis of EUR/NZD for August 18, 2017

Wave summary: If a clear break above 1.6236 is not seen soon, we will likely see a deeper correction closer to 1.5928 before the next impulsive rally higher. Only a clear break above 1.6236 confirms the next leg higher towards 1.6969 with minor resista…

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Elliott wave analysis of EUR/JPY for August 18, 2017

Wave summary:The break below support at 128.89 told us the corrective decline in wave X was not complete and more downside closer to 127.19 and maybe even closer to 125.08 could be seen. Continue to look lower as long as minor resistance at 129.16 is a…

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Daily analysis of major pairs for August 18, 2017

EUR/USD: The EUR/USD has only consolidated so far this week, with no much directional movement. The market is quite choppy right now, and it would make sense to stay away from it until the price goes above the resistance line at 1.1800 or below the sup…

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EUR/USD testing major support, prepare to buy

The price is seeing major support at 1.1691 (Fibonacci extension, horizontal swing low support) and we expect to see a bounce above this level towards 1.1795 resistance (Fibonacci retracement, horizontal swing high resistance).Stochastic (55,5,3) is se…

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USD/CHF approaching major support, prepare to buy

The price has crept closer to our major buying area since yesterday. We prepare to buy above major support at 0.9598 (Fibonacci retracement, horizontal overlap support, bullish divergence) for a push up to at least 0.9697 resistance (Fibonacci retracem…

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NZD/USD dropping nicely towards profit target, remain bearish

The price has reversed perfectly from our selling area and is approaching our profit target. We remain bearish below 0.7290 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to at least 0.7223 support (Fibonacci…

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Technical analysis of USD/JPY for August 17, 2017

USD/JPY is expected to trade with bullish outlook. The pair has bounced up from 108.90 and is holding on the upside. The rising 20-period moving average crossed above the 50-period one and is playing a support role. The relative strength index stands f…

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Trading Plan for EUR/USD and GBP/USD for August 17, 2017

Technical outlook:We have again presented the daily chart here to remind you of the bigger picture in EUR/USD. It has been two weeks since we discussed EUR/USD potential drop from 1.1910 levels and the pair has dropped almost 300 pips since then. Even …

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Fundamental Analysis of AUD/JPY for August 17, 2017

AUD has been stronger than JPY recently with positive economic reports and market sentiment. AUD gained ground on the back of the employment data. On the other hand, JPY had been quite neutral with the economic reports which lead to further weakness of…

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Fundamental Analysis of EUR/CAD for August 17, 2017

EUR/CAD has been impulsively bearish recently despite the bad Canadian economic reports published recently. EUR has been quite neutral with the economic reports this week which lead to further weakness of the currency without any favorable gains. Today…

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