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Tuesday, 6 December 2016

EUR/USD H4 Analysis









General overview for 06/12/2016:

Five impulsive waves to the downside from wave 4 top at the level of 1.1300 had been completed and now the market is in the corrective cycle of wave 2. The top for this wave might be projected at the level of 1.0850, which is just above 38%Fibo at 1.0817. Nevertheless, please take into account the fact, that wave 2 might evolve to more complex and time-consuming pattern before eventually resume the downward move.

Support/Resistance:

1.0502 - Swing Low
1.0702 - 23%Fibo
1.0817 - 38%Fibo
1.0850 - Technical Resistance
1.0909 - 50%Fibo


Trading recommendations:
Only sell orders should be open from the orange rectangle zone as there are unfinished waves to the downside*.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.


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Monday, 5 December 2016

SP500 Intraday Analysis









General overview for 05/12/2016:

Analysis conducted for BD Global Trading proprietary trading company.

After determining the peak of the first wave at the level of 2,212 points, the index of wide market SP500 is currently in a correction cycle. The first target level, ie local support for 2180 has already been tested, but further declines towards next support level at 2,148 points are not excluded. Only a sudden, impulsive upside breakout in the direction of 2250 overrides the currently preferred scenario of a downward correction.

Support/Resistance:
2210 - Intraday Resistance
2191 - ATH
2185 - Weekly Pivot
2180 - Intraday Support
2148 - Intraday Support
1981 - Technical Support

Trading recommendations:
Upside seems to be limited as the top of the wave 1 is in place now. Corrective cycle ahead*.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.



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Thursday, 1 December 2016

EUR/JPY Weekly Analysis








General overview for 01/12/2016:

The clear break out above the long-term golden trend line is the first classic signal of an upcoming bounce/trend reversal. According to the Elliott Wave Principle, the market had finished the ABC correction in form of an irregular flat pattern and now the bulls are trying to rally higher. In the longer perspective the top of the wave 1 at the level of 149.74 might be in danger as wave 3 unfolds. Nevertheless, first the bulls must break out above 200WMA around the level of 133.00 in order to confirm the trend reversal.

Support/Resistance:

149.74 - Swing High
133.00 - 200WMA
125.94 - Technical Resistance
109.55 - Swing Low

Trading recommendations:

First two impulsive waves are already made and now the market is trying to unfold wave three. In that case, only swing buy orders should be considered. *.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.



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