Goldstarinternational-FinTech Ltd. ……27.01.2017

 

Goldstarinternational Ltd.

Belize City, Belize

 

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Dear Kristin,

Here is our latest market analysis update:

  • EUR/NZD reached sell target 1.4700
  • Next buy target – 1.4950

EUR/NZD continues to rise after the earlier upward reversal from support zone lying between the lower daily Bollinger Band, the pivotal support level 1.4700 (which stopped the previous intermediate impulse wave (1) and which was set as the sell target in our previous forecast for this currency pair) and the support trendline of the wide daily down channel from last July. With the daily Stochastic still moving in the oversold area - EUR/NZD can be expected to rise to the next buy target at the resistance level 1.4950 (top of the previous minor correction (ii)).

(Click chart to view full size)

 

  • CAD/JPY reversed from support zone
  • Next buy target - 88.70

CAD/JPY continues to rise inside the intermediate impulse wave (C), which started earlier from the support area lying between the key support level 85.00 (former strong resistance from May), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse from November. The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star. CAD/JPY is expected to rise toward the next buy target at the next powerful resistance level 88.70 (which reversed earlier waves (B), (A) and B).

(Click chart to view full size)

 

  • AUD/NZD reached sell target 1.0370
  • Next buy target – 1.0450

AUD/NZD today reversed up after the price reached the support level 1.0370, which was set as the sell target in our previous forecast for this currency pair. The support level 1.0370 also previously reversed the earlier impulse waves (1) and 1, as can be seen from the daily AUD/NZD chart below. The support zone near the support level 1.0370 was strengthened by the lower daily Bollinger Band. AUD/NZD is expected to rise further to the next buy target at the nearby resistance level 1.0450. Buy stop-loss can be placed below the aforementioned support level 1.0370.

(Click chart to view full size)

 

  • EUR/USD reversed from resistance zone
  • Next sell target – 1.0600

EUR/USD today reversed down from the resistance zone lying between the resistance level 1.0780 (which reversed the previous upward correction in December, as can be seen from the daily EUR/USD chart below), upper daily Bollinger Band and the 50% Fibonacci correction level of the earlier sharp minor impulse wave 3 from November. With the daily Stochastic moving in the overbought area - EUR/USD can be expected to correct down further to the next sell target at the support level 1.0600 (which reversed the previous (b)-wave).

(Click chart to view full size)


Dima Chernovolov
Currency Analyst
Tallinex Limited
The Jaycees Building, Stoney Ground
PO Box 362, Kingstown, VC0100
St Vincent and the Grenadines
https://www.tallinex.com








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