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  #4821  
Old 19-05-2017, 08:31
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Default Re: Market news and trade recommendations by FBS

EUR/USD: "V-BOTTOM" PUSHING PRICE HIGHER
06:44 19.05.2017

[IMG[https://fbs.com/img/articles/1124/1495176097-1fea7015febb0606c2e4f9dbca478628_1200x1200_q90.png[/IMG]

The price faced support at 1.1066, so we've got a "V-Bottom" pattern. In this case, the market is likely going to continue moving up towards the next resistance at 1.1152 - 1.1171. However, if a pullback from this area happens, there'll be an opportunity to have a decline in the direction of support at 1.1103 - 1.1066.



There's a consolidation, which is taking place along the 34 Moving Average. Therefore, bears are likely going to test the nearest support at 1.1081 - 1.1075 in the coming hours. If we see a pullback from these levels, bulls will have a green light to reach resistance at 1.1152 - 1.1171.

more:
https://fbs.com/analytics/articles/e...ce_higher_1124
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  #4822  
Old 19-05-2017, 08:43
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Default Re: Market news and trade recommendations by FBS

GBP/USD: BULLS GOING TO TEST NEXT RESISTANCE
06:46 19.05.2017



The 55 Moving Average has acted as support, so there's a "V-Bottom" pattern, which pushed the price a little bit higher. Under this circumstances, we should keep an eye on resistance at 1.3023 - 1.3057 as the next bullish target. Meanwhile, if a pullback from this area happens, we could have a downward correction towards support at 1.2945 - 1.2913.



Bulls found support at 1.2883, so we've got a "V-Bottom" pattern, which led to the current consolidation. Therefore, bears are likely going to get support on the 89 Moving Average, which could be a departure point for another upward price movement in the direction of the next resistance at 1.2988 - 1.3023.

More:
https://fbs.com/analytics/articles/g...esistance_1125
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  #4823  
Old 19-05-2017, 12:30
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US DOLLAR: OUTLOOK FOR MAY 22-26
11:09 19.05.2017

US dollar had the worst week in 9 months. The greenback was hit hard by the political turmoil in the United States. The hype was caused by Donald Trump's firing of former FBI director James Comey, talk that he pressed Comey to stop investigating his former national security chief, and his campaign's alleged ties with Russia. There are concerns not only that the President may be impeached, but also that the fiscal stimulus he promised will be unlikely anytime soon.
We can now clearly see that the US dollar index recoiled down from the previous support and now resistance line in the 99.50 area. It seems like the index has formed a triple top with the neckline at 99.15 and is vulnerable to a decline to 94.70. Daily moving averages turned to the downside. DXY is trading below 50% Fibonacci of 2016-2017 advance. The next Fibo level lies at 96.40. A weekly close below the 100-week MA at 97.65 will be a very bearish sign. Resistance is at 98.65 and 99.20.



In the coming days pay attention to the FOMC May meeting minutes on Wednesday and core durable goods together with preliminary Q1 GDP on Friday. The Federal Reserve is still widely expected to raise interest rates in June after a rather optimistic May statement. However, as next monthís rate hike is already significantly priced in, so we donít see how it can provide much strength to the US currency.
The problems of Trump administration should remain in the center of the marketís attention. In addition, analysts warn that risks associated with North Korea have increased and advise to prepare for high volatility in the short-term.

More:
https://fbs.com/analytics/articles/u...may_22_26_1130
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  #4824  
Old 19-05-2017, 12:36
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Default Re: Market news and trade recommendations by FBS

EUR/USD: 8/8 MM LEVEL GOING TO ACT AS RESISTANCE
12:10 19.05.2017



The price is still rising, so bulls are likely going to test 8/8 MM Level in the coming hours. If a pullback from this level happens, there'll be an opportunity to have a bearish wave (i). In this case, we should keep an eye on 6/8 MM Level as an intraday target.



We've just got a new local high. Previously, the price couldn't fixate under 6/8 MM Level. Therefore, wave v of (c) is likely going to be continued towards 8/8 MM Level, which could be a departure point for wave i of (i).

More:
https://fbs.com/analytics/articles/e...esistance_1131
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  #4825  
Old 19-05-2017, 15:23
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EUR/USD: BULLISH PARTY
12:51 19.05.2017



The lower "Window" has acted as support, which led to a new local high. Considering the last "Hammer", bulls are likely going to test the nearest resistance level, which could be a departure point for a downward correction.



We've got some bullish patterns such a "High Wave" and a "Hammer" at the last low. So, there's an opportunity to have the market even higher in the short term. However, if any bearish pattern arrives afterwards, bears will probably try to deliver a correction.

More:
https://fbs.com/analytics/articles/e...ish_party_1133
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  #4826  
Old 19-05-2017, 15:27
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USD/JPY: "INVERTED HAMMER" AT THE LAST LOW
12:53 19.05.2017



There's a "Tweezers" pattern at the local high, but the last bullish "Hammer" is still on the table. Therefore, the market is likely going to rise towards the Moving Averages in the coming hours



We've got an "Inverted Hammer" at the last low, which has been confirmed enough. Also, there's a bearish "Tweezers", so bears are likely going to test the nearest support level during the day. If a pullback from this level happens, bulls are going to deliver a new high.

More:
https://fbs.com/analytics/articles/u..._last_low_1134
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  #4827  
Old 19-05-2017, 15:29
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EUR/USD RISING INSIDE IMPULSE WAVES (III) AND C
14:25 19.05.2017

EUR/USD rising inside impulse waves (iii) and C
Next buy target - 1.1260
EUR/USD continues to rise inside the minor impulse (iii), which earlier reversed up from the support zone lying between the support level 1.1100 and the upper trendline of the recently broken daily up channel from the start of this year (acting as support after it was broken earlier this month).

If the pair closes today near the current levels it will form the daily Japanese candlesticks reversal pattern Bullish Engulfing. EUR/USD is expected to rise further in the active impulse waves (iii) and C toward the next buy target at the resistance level 1.1260 (forecast price for the completion of the active wave C).




More:
https://fbs.com/analytics/articles/e...%29_and_c_1135
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  #4828  
Old 19-05-2017, 15:32
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CAD/JPY REVERSED FROM SUPPORT ZONE
14:27 19.05.2017

CAD/JPY reversed from support zone

Next buy target - 83.70

CAD/JPY recently revered up with the daily Japanese candlestick reversal pattern Hammer from the support zone lying between the pivotal support level 80.60 and the lower daily Bollinger Band. The upward reversal from this support zone started the active minor impulse wave 3, which belongs to the impulse wave (3) from the end of April.

Given the clear bullish divergence on the daily Stochastic indicator - CAD/JPY is expected to rise to the next buy target at the resistance level 83.70. Strong support remains at 80.60.



More:
https://fbs.com/analytics/articles/c...port_zone_1136
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  #4829  
Old 22-05-2017, 07:54
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GBP/USD: OUTLOOK FOR MAY 23 - 26
09:25 19.05.2017

The political turmoil that gripped the White House this week resulted in the weakening of the USD against its major counterparts, such as the British pound. US President Donald Trump was accused of pressuring ex-FBI director James Comey to drop the investigation into ties between Russia and former security adviser, Michael Flynn. This was regarded as a serious, impeachable offense Ė an obstruction of justice. The latest development is circulation of Comeyís testimony in which former FBI director confirmed that he hadnít been pressured for political purpose. This has lifted pressure from the US dollar, but only partially. In its turn, GBP was supported by the numerous economic data releases and actively tested 1.30.

On Tuesday, the Bank of England Governor Mark Carney will testify on inflation and the economic outlook before Parliamentís Treasury Committee. British inflation figures continue moving upwards: CPI rose by 2.7% in April. The BoE is ready to tolerate inflation at around 3%, a higher rate may make the central bank to raise its interest rate. On Wednesday, traders will wait for the FOMC meeting minutesí release, though it shouldnít bring any great market fluctuations. Towards the end of the week, we will be focused on the second estimate of GDP figures and preliminary business investment gauge both coming out of the UK on Thursday. On Friday, keep an eye on the US preliminary Q1 GDP figures.

The technical outlook for GBP/USD currency pair is neutral with some bullish bias. Most likely, the pair will be trading choppily within the range between 1.2850 and 1.3070 in the upcoming days. Stochastic indicates a room for the poundís extension towards the upper border of consolidation range or higher, towards 1.3150 (38.2% Fibo of the post-Brexit decline). On the downside, there is a support at 1.2750 and 1.2710 which previously served as a very important resistance line.



More:
https://fbs.com/analytics/articles/g...y_23___26_1126
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  #4830  
Old 22-05-2017, 08:08
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USD/CAD: OUTLOOK FOR MAY 22-26
16:24 19.05.2017

USD/CAD slumped to 1.3545 in the past week due to rising oil prices and weaker USD. WTI and Brent oil futures rose after the Saudi Arabia and Russia have committed to extend production cut agreement. The political turmoil in Washington that could potentially end with Trumpís impeachment weighted in the USD depreciation against its major peers.

Next week the main focus will be on the Bank of Canadaís rate statement which is due on Wednesday. The central bank is widely expected to remain its rate on hold despite the soaring prices at Canadian house market. Household debt is poised to reach record levels as continuously low rate whet appetite for credit and inflated a bubble in real estate market. Canadian CPI figures picked up in April, but not enough for the central bank to raise its interest rate. An extremely dovish tone of the BoCís policymakers will definitely hurt the CAD. The loonie might recoup its losses on May 25 following the OPEC meeting where more details on the extension of production cut agreement will be announced. On the USD front, pay special attention to what FOMC membersí chorus will tell you. A number of Fedís policymakers will be speaking in the first half of the week. On Friday, traders will be waiting for the preliminary release of GDP figures and a monthly update of core durable goods orders. If headlines beat market expectation, USD might gain a strong momentum.

Technically, USD/CAD may slide further towards the solid support at 1.3480, or lower towards 1.2242 (100-day MA intersecting lower border of the rising trading channel). On the upside, there is a strong resistance at 1.3795 that might prevent USD from rising higher.




more:
https://fbs.com/analytics/articles/u...may_22_26_1137
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