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Fundamental analysis of NZD/USD for August 18, 2017

NZD/USD has been quite volatile recently on the way to retesting the resistance area of 0.7370-0.7460. Yesterday, NZD has lost grounds due to positive economic reports from the United States which lead to more volatility in this pair recently. New Zeal…

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Intraday technical levels and trading recommendations for EUR/USD for August 18, 2017

Monthly OutlookIn January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450.In March 2015, EUR/USD bears chal…

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NZD/USD Intraday technical levels and trading recommendations for August 18, 2017

Daily OutlookIn February 2017, the depicted short-term downtrend was initiated around the depicted supply zone (0.7310-0.7380).However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as …

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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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