|
Re: Market news and trade recommendations by FBS
EUR/USD: MORNING STAR PUSHING PRICE HIGHER
13:31 22.05.2017 https://fbs.com/img/articles/1180/14...0x1200_q90.png The price has been rising since the lower "Window" acted as support. Also, we don't have any reversal pattern so far, which mean the pair could test the upper "Window" soon. If we see any bearish pattern on this level, there'll be an opportunity to have a correction. https://fbs.com/img/articles/1180/14...0x1200_q90.png We've got a "Morning Star", which has been confirmed, so the price is moving up. At the same, there's a chance to have a local correction towards the nearest support level. Anyway, we are likely going to see the price even higher in the coming hours. More: https://fbs.com/analytics/articles/e...ce_higher_1180 |
Re: Market news and trade recommendations by FBS
USD/JPY: ""WINDOW" ACTING AS STRONG SUPPORT
13:37 22.05.2017 https://fbs.com/img/articles/1181/14...0x1200_q90.png There's a consolidation, which is taking place on the four-hours chart. The 34 Moving Average is acting as resistance. Considering the last bearish "Tweezers", the price is likely going to test the closest support level in the short term. https://fbs.com/img/articles/1181/14...0x1200_q90.png The lower "Window" is acting as strong support, so the price is likely going to test this level once again. Nevertheless, the market is likely going to reach the 55 Moving Average afterwards. More: https://fbs.com/analytics/articles/u...g_support_1181 |
Re: Market news and trade recommendations by FBS
MORNING BRIEF FOR MAY 23
06:15 23.05.2017 The British pound slumped after authorities said a blast at an Ariana Grande concert in Manchester could be a terror-related. A suspected terrorist attacked killed at least 19 people and wounded 50. It happened in the middle of an election campaign and ahead of the tough Brexit negotiations with the two parties embroiled in a wrangle over the size of compensation for the Britain’s divorce settlement. GBP/USD lost a few points on Tuesday having slipped to 1.2990. Today’s focus will be on the BOE Governor Mark Carney’s testimony on inflation and economic outlook before Parliament’s Treasury Committee as well as on the public-sector net borrowing. EUR/USD hit a six-month high (1.2542) overnight after German Chancellor Angela Merkel said that the currency was made too weak by the European Central Bank’s loose monetary policy. The cheaper euro is partly to blame for Germany’s trade surplus. In Tokyo morning, the euro was trading near 1.2450. The bullish phase that started last week appears to a bit overextended. The euro will unlikely hit 1.3000 in the short-term future. So, while undertone of the pair is still positive, we would suggest adjusting some stop-losses to avoid unexpected dips. Tonight’s focus will be on German May Ifo Survey and second vintage of quarterly GDP. Eurozone’s PMIs are also out today. The yen gained some points in the early hours of the Asian session probably on concerns over the explosion in the UK and political wrangling in Washington. USD/JPY retraced to 111.05 from yesterday’s high 111.60. Markets lost their confidence in the growth-generating capacity of the current US administration with Trump’s presidency engulfed in a crisis over his firing of FBI James Comey and the allegations he had some close ties with Russians in the course of his election campaign. With Donald Trump on his first overseas trip, the political crisis has calmed for now. But we expect the melodrama to pick after once the US president returns to Washington. There were two Fed speeches today, both at the dovish end of the monetary policy spectrum – Charles Evans and Lael Brainard who didn’t provide us with any comments on current economic outlook and on monetary policy. FOMC member Kashkari will be speaking today at 4:00 pm and 10:00 pm MT time. Aussie and kiwi are both higher on the session due to rising commodity prices. AUD/USD is trading above 0.7490 at the current moment. There is a room for extension towards 0.7480/85 levels. To maintain the momentum, bulls should allow quotes to move below 0.7430. NZD/USD spiked to 0.7030. A move beyond 0.7050 will force to focus on the upper levels. USD/CAD dropped below 1.3475 (below 50-day MA) on surging commodity prices. Yestersay we received Trump's complete budget proposal that seeks to boost government revenues by allowing oil drilling in the Alaska National Wildlife Refuge and draining the Strategic Petroleum Reserve. This might hurt the Loonie and oil prices in the short-term and push USD/CAD higher. On the daily chart of Brent oil futures, the doji candlestick has been formed. It is a good selling opportunity. https://fbs.com/img/articles/1196/14...0x1200_q90.png More: https://fbs.com/analytics/articles/m...or_may_23_1196 |
Re: Market news and trade recommendations by FBS
AUD/USD: AUSSIE CAME CLOSER TO RUBICON
06:32 23.05.2017 On the AUD/USD daily chart, bulls managed to push the quotes beyond the downward trading channel and tested the resistance at 0.749. if it is broken successful, the way towards the 0.7525-0.7535 convergence zone will be opened. In contrast, the return of the Australian dollar to support at 0.745 will raise hopes for a downtrend recovery. https://fxbazooka.com/img/articles/1...3_07_13_18.png On the AUD/USD hourly chart, quotes reached 200%target in the AB = CD pattern. It corresponds to the upper border of the upward trading channel. It may lead to the rollback. To break the downward short-term trend, the resistances at 0.751 and 0.753 levels should be overcome. https://fxbazooka.com/img/articles/1...3_07_13_34.png More: https://fbs.com/analytics/articles/a...o_rubicon_1197 |
Re: Market news and trade recommendations by FBS
USD/CAD: WILL 5-0 BE REALIZED?
06:33 23.05.2017 Recommendations: BUY 1.3435 SL 1.3380 TP 1.3650 BUY 1.3375 TP 1.3320 TP 1.3525 On USD/CAD daily chart, the 5-0 and Wolf Waves patterns are in the process of realization. If "bears" manage to test support levels at 1.3435 and 1.334, the target of Wolf Waves pattern will be fulfilled. In contrast, the rollback from 50% and 61.8% levels of the CB wave in the Shark pattern will allow the "bulls" to count on the restoration of the long-term uptrend. https://fxbazooka.com/img/articles/1...3_07_13_49.png On USD/CAD hourly chart, correction of the bullish trend continues. The rollback may end within the 161.8% target of the "Crab" pattern. It corresponds to the lower border of the upward trading channel. https://fxbazooka.com/img/articles/1...3_07_14_04.png More: https://fbs.com/analytics/articles/u...realized__1198 |
Re: Market news and trade recommendations by FBS
EUR/USD: CONFIRMED "DOUBLE TOP"
07:10 23.05.2017 https://fbs.com/img/articles/1200/14...0x1200_q90.png The price faced resistance at 1.1249, so there's a consolidation. Also, we've got a "Double Top" pattern, so the pair is likely going to test the nearest support at 1.1171 - 1.1139 in the short term. If a pullback from this area happens, there'll be an opportunity to have another bullish movement towards resistance at 1.1287 - 1.1307. https://fbs.com/img/articles/1200/14...0x1200_q90.png There's a "Double Top", which has been confirmed. Therefore, bears are likely going to reach support at 1.1160 in the coming hours. At the same time, if we see a pullback from this level, bulls will have an opportunity to achieve resistance at 1.1249 - 1.1279. More: https://fbs.com/analytics/articles/e...le_top%22_1200 |
Re: Market news and trade recommendations by FBS
GBP/USD: BEARISH "THORN"
07:12 23.05.2017 https://fbs.com/img/articles/1201/14...0x1200_q90.png There's a consolidation, which is taking place along the 34 Moving Average. In this case, we should keep an eye on support at 1.2945 - 1.2913 as an intraday bearish target. If a pullback from these levels happens, the pair is going to rise in the direction of the next resistance at 1.3057 - 1.3090. https://fbs.com/img/articles/1201/14...0x1200_q90.png We've got a "Thorn" under resistance at 1.3047, so the price is consolidating. The 55 Moving Average is acting as support. Under this circumstances, bears are likely going to reach the closest support at 1.2913, which could be a departure point for an upward price movement towards resistance at 1.2988 - 1.3023. More: https://fbs.com/analytics/articles/g...2thorn%22_1201 |
Re: Market news and trade recommendations by FBS
EUR/USD: "WINDOW" WAITING FOR BULLS
09:33 23.05.2017 https://fbs.com/img/articles/1202/14...0x1200_q90.png The price has been rising since the last "Hammer" was formed on the lower "Window". There isn't any reversal pattern so far, so the market is likely going to test the upper "Window" in the short term. If any bearish pattern arrives afterwards, there'll be an opportunity to have a downward correction. https://fbs.com/img/articles/1202/14...0x1200_q90.png We've got an "Engulfing", but this pattern hasn't been confirmed yet. Therefore, if a pullback from the closest support happens, bulls are likely going to deliver a new local high. More: https://fbs.com/analytics/articles/e...for_bulls_1202 |
Re: Market news and trade recommendations by FBS
USD/JPY: BULLISH "HAMMER" STILL ON THE TABLE.
09:38 23.05.2017 https://fbs.com/img/articles/1203/14...0x1200_q90.png The price is still consolidating in a tight range. However, the last bullish "Hammer" is on the table, so bears are likely going to test the 144 Moving Average soon. If a pullback from this line happens, there'll be an option to have a downward movement towards the nearest support level. https://fbs.com/img/articles/1203/14...0x1200_q90.png The lower "Window" is acting as strong support, so we've got a lot of pullbacks from this level. Also, there's resistance by the 34 Moving Average. In this case, bulls are likely going to test the 89 Moving Average in the coming hours. If we see a pullback from this line, bears will have an opportunity to push the price towards the last low. More: https://fbs.com/analytics/articles/u...he_table._1203 |
Re: Market news and trade recommendations by FBS
EUR/USD: PULLBACK FROM 8/8 MM LEVEL
12:37 23.05.2017 https://fbs.com/img/articles/1205/14...0x1200_q90.png The price is trying to form a pullback from 8/8 MM Level, so wave [y] of 2 may have been ended. In this case, we should keep an eye on 6/8 MM as a local bearish target. https://fbs.com/img/articles/1205/14...0x1200_q90.png Bulls couldn't fixate above 8/8 MM Level, so there's time for a correction. Therefore, wave (c) of [y] likely finished. The main target for wave (i) is 6/8 MM Level. More: https://fbs.com/analytics/articles/e..._mm_level_1205 |
Re: Market news and trade recommendations by FBS
USD/CHF BROKE SUPPORT ZONE
16:48 23.05.2017 USD/CHF broke support zone Next sell target - 0.9670 USD/CHF continues to fall after the earlier breakout of the support zone lying at the intersection of the support level 0.9750 (sell target set in our earlier forecast for this currency pair) and the support trendline of the wide daily down channel from the start of March. The breakout of this support zone accelerated the active impulse wave 3. USD/CHF is expected to fall to the next sell target at the support level 0.9670 (target price calculate for the completion of the active impulse wave 3). https://cdn.pbrd.co/images/9NKDlp78k.png More: https://fbs.com/analytics/articles/u...port_zone_1206 |
Re: Market news and trade recommendations by FBS
EUR/AUD REVERSED FROM RESISTANCE LEVEL 1.5060
16:49 23.05.2017 EUR/AUD reversed from resistance level 1.5060 Next sell target - 1.4900 EUR/AUD recently reversed down from the powerful resistance zone lying between the major, multi-month resistance level 1.5060 (which reversed the price in the middle of September) and the upper daily Bollinger Band. If the pair closes today near the current levels it will then form the daily Japanese candlesticks reversal pattern Evening Star Doji. Given the strongly overbought reading on the daily Stochastic indicator - EUR/AUD can be expected to fall to the next sell target at the support level 1.4900 (former resistance level from the start of May). https://cdn.pbrd.co/images/9NS1mxyhN.png More: https://fbs.com/analytics/articles/e...el_1.5060_1207 |
Re: Market news and trade recommendations by FBS
AUD/USD: MARKET RETURNED INTO CLOUD
05:13 24.05.2017 Technical levels: support – 0.7370, 0.7400/10; resistance – 0.7450. Trade recommendations: Sell — 0.7440; SL — 0.7460; TP1 — 0.7340; TP2 — 0.7310. Buy — 0.7460; SL — 0.7440; TP1 — 0.7520; TP2 — 0.7560. Reason: narrow bullish Ichimoku Cloud, horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; the prices are entered into the Cloud. https://fbs.com/img/articles/1215/14...0x1200_q90.png More: https://fbs.com/analytics/articles/a...nto_cloud_1215 |
Re: Market news and trade recommendations by FBS
USD/JPY: BULLS TOOK OFFENSIVE
05:14 24.05.2017 Technical levels: support – 111.30, 110.15; resistance – 112.20. Trade recommendations: Buy — 111.60; SL — 112.40; TP1 — 112.20; TP2 — 113.20. Reason: narrowing bearish Ichimoku Cloud, horizontal Senkou Span B; a new golden cross of Tenkan-sen and Kijun-sen; the prices are entered into the Cloud. https://fbs.com/img/articles/1216/14...0x1200_q90.png More: https://fbs.com/analytics/articles/u...offensive_1216 |
Re: Market news and trade recommendations by FBS
MORNING BRIEF FOR MAY 24
06:17 24.05.2017 The USD strengthened in Tokyo morning against its major peers due to rising 10-year Treasury note yield climbing 3 basis points overnight. The news that Trump asked intelligence directors to deny any collusion between his election campaign and Russian entities is no longer fresh one. The US political wrangling has stopped pressuring the greenback. Investors are now turning their focus towards the FOMC meeting minutes which are due at 9 pm MT time. You should pay closer attention to the phrases mentioning the pace of interest rate increases and to discussions about how to wind down the Fed’s balance sheet. A June hike still looks like as a base case scenario with investors pricing it at 83.1%. If there are some doubts over further upsurge in inflation rates, the USD will be hurt. The euro lost its momentum and nudged away from its recent high of 1.1268 that was hit the previous day following the solid PMIs releases from the euro area. The German Ifo business climate spiked to a new all-time high. Europe’s composite PMI reading was unchanged at 56.8 suggesting that there were some offsetting weaknesses in the releases of other EZ countries. Germany will release its consumer confidence reading at 9 am MT time; the ECB President Mario Draghi is due to speak at 3:45 p, at the First Conference on Financial Stability in Madrid. At the present moment, EUR/USD is trading at 1.1180. The odds for upsurge towards 1.3000 are not high, but the bullish phase in the pair is still intact. The British pound recouped some of its losses obtained in the wake of the suicide bombing in Manchester. GBP/USD edged up a few points higher (to 1.2975). The current mild downward pressure may send GBP towards 1.2920. A hike above 1.3000 will allow us to target 1.3050. For the present moment, the technical outlook is neutral. AUD/USD dropped to 0.7445 after the Moody’s announcement downgrading China’s sovereign rating to A1 from Aa3. China’s massive debt had been at the center of concerns among economists. The downgrade warns us about slowing economic growth in the People’s Republic of China. Additional pressure came following the disappointing release of the Australian construction work done data. Iron ore prices were also lower in China today. USD/CAD was trading higher at 1.3535 from yesterday’s low at 1.3452. Today’s focus will be on the Bank of Canada’s official rate announcement. The central bank is unanimously expected to stand pat tonight, but with core CPI trending lower we expect the bank will remain its easing bias. The oil prices were under pressure yesterday weighed down by Trump’s plan to sell off some of the US crude oil stockpiles to generate revenue and balance the deferral budget. OPEC members will meet in Vienna on Thursday to discuss a further extension of the output cut agreement from just the first half of this year towards the first quarter of 2018. The main focus will on whether OPEC extends the period of their pledge to cut production by six or nine months. Kuwait’s oil minister said yesterday that there is no unanimous agreement among OPEC producers for a nine-month extension. More: https://fbs.com/analytics/articles/m...or_may_24_1217 |
Re: Market news and trade recommendations by FBS
Key option levels for Wednesday, May 24th
24/05/2017 If you have any questions or requests fill out the feedback form. USD/JPY https://fxbazooka.com/img/articles/1...SDJPY(120).png Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 381 ? + 95 ? Closest resistance levels 111.96; 112.27; 112.85; 113.29 Closest support levels 111.48; 111.15; 110.86; 110.50 Trading recommendations Baseline scenario Long USD/JPY above 111.96, with target points at 112.27 and 112.85 Alternative scenario Moving below 111.48 can be considered as a signal to Sell the pair, with target at 111.15 and 110.86 USD/CAD https://fxbazooka.com/img/articles/1...SDCAD(153).png Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 339 ? - 1 010 ? Closest resistance levels 1.3541; 1.3565; 1.3604; 1.3659 Closest support levels 1.3515(08?); 1.3486; 1.3463; 1.3426 Trading recommendations Baseline scenario Long USD/CAD above 1.3541, with the target points at 1.3565 and 1.3604 Alternative scenario Moving below 1.3515 can be considered as a signal to Sell the pair, with target at 1.3486 and 1.3463 More: https://fxbazooka.com/analytics/13194 |
Re: Market news and trade recommendations by FBS
EUR/USD: EURO CAUGHT THE BAT'S TAIL
06:20 24.05.2017 Recommendation: BUY 1,108 SL 1,1025 TP1 1,121 TP2 1,13. On the EUR/USD daily chart, the target 88.6% of the "Bat" pattern was fulfilled. As a result, the risks of correction towards 1.113 (61.8% of the last downward medium-term wave) and 1.108 (the upper border of the previous upward trading channel) increased. The trend is still bullish, so rollbacks can be used for opening long positions. https://fxbazooka.com/img/articles/1...4_07_00_48.png On the EUR/USD hourly chart, there is a break of the lower border of the upward trading channel. A successful test of the support at 1.1165 will lead to the activation of the Shark pattern with a target of 1.108. https://fxbazooka.com/img/articles/1...4_07_01_03.png More: https://fbs.com/analytics/articles/e...%27s_tail_1218 |
Re: Market news and trade recommendations by FBS
USD/CHF: BEARS SAW A DRAGON
06:22 24.05.2017 Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895. On the USD/CHF daily chart, quotes reached the lower border of the downward trading channel and rebounded from support located at 0.9715 (78.6% of the last upward wave). These factors increase the risks of correction towards the medium-term downtrend (towards 0.985). https://fxbazooka.com/img/articles/1...4_07_00_18.png On the USD/CHF hourly chart, there is a formation of the Dragon reversal pattern. A break of the resistance at 0.9765 can lead to the continuation of the rally and the formation of the Dragon's head. The Bat pattern that lies in the basis of the current reversal helps us to identify the current the interim target at 0.9815. https://fxbazooka.com/img/articles/1...4_07_00_34.png More: https://fbs.com/analytics/articles/u..._a_dragon_1219 |
Re: Market news and trade recommendations by FBS
EUR/USD: "DOUBLE TOP" PUSHED PRICE LOWER
06:57 24.05.2017 https://fbs.com/img/articles/1222/14...0x1200_q90.png We've got a "Double Top" pattern, so the price is consolidating. So, the market is likely going to decline towards the nearest support at 1.1139 - 1.1103. If a pullback from this area happens, we could have another bullish price movement towards the next resistance at 1.1287 - 1.1307. https://fbs.com/img/articles/1222/14...0x1200_q90.png The last "Double Top" pushed the price lower, so bears meet with support at 1.1171. Also, there's a "Flag" pattern, so the pair is likely going to get support on the 89 Moving Average. At the same time, if we see a pullback from this line, bulls will have an opportunity to reach the closest resistance at 1.1249 - 1.1267. More: https://fbs.com/analytics/articles/e...ice_lower_1222 |
Re: Market news and trade recommendations by FBS
GBP/USD: TWO "THORN" PATTERNS
07:00 24.05.2017 https://fbs.com/img/articles/1223/14...0x1200_q90.png The price is consolidating along the 34 Moving Average. It's likely that the market is going to achieve the 55 Moving Average in the short term. If a pullback from this line happens, there'll be an option to have an upward price movement in the direction of the next resistance at 1.3057 - 1.3090. https://fbs.com/img/articles/1223/14...0x1200_q90.png We've got two "Thorn" patterns, so the price is consolidating. The 89 Moving Average is acting as support, but bears are likely going to test support at 1.2945 - 1.2913 in the coming hours. Nevertheless, if we have a pullback from this area, bulls will probably try to achieve resistance at 1.2988 - 1.3023 More: https://fbs.com/analytics/articles/g..._patterns_1223 |
Re: Market news and trade recommendations by FBS
EUR/USD: BEARISH IMPULSE ARRIVED
09:17 24.05.2017 https://fbs.com/img/articles/1224/14...0x1200_q90.png We've got a pullback from 8/8 MM Level, so a double zigzag in wave [y] of 2 may have been formed. Therefore, we could have bearish wave (i) in the short term. In this case, we should keep an eye on 6/8 MM Level as an intraday target. https://fbs.com/img/articles/1224/14...0x1200_q90.png There's a downward impulse in wave ii, so bulls are likely going to deliver a local correction. However, if we see a pullback from 8/8 MM level, there'll be an opportunity to have another bearish impulse in wave iii of (i). More: https://fbs.com/analytics/articles/e...e_arrived_1224 |
Re: Market news and trade recommendations by FBS
EUR/USD: BEARISH PATTERNS
13:19 24.05.2017 https://fbs.com/img/articles/1225/14...0x1200_q90.png We've got bearish patterns such a "Tower" and a "High Wave", which both have confirmation. Therefore, the pair is likely going to test the 34 Moving Average in the short term. https://fbs.com/img/articles/1225/14...0x1200_q90.png There's a "High Wave" pattern, which has formed on the 34 Moving Average. Considering confirmation of this pattern, we could have a local correction towards the nearest resistance, which could be a departure point for another decline. More: https://fbs.com/analytics/articles/e..._patterns_1225 |
Re: Market news and trade recommendations by FBS
USD/JPY: BULLISH "HAMMER"
13:23 24.05.2017 https://fbs.com/img/articles/1226/14...0x1200_q90.png We've got a bullish "Hammer", which has been confirmed. Also, there's a "Doji" on the 144 Moving Average, but this pattern remains unconfirmed. So, bears are likely going to test the nearest support level shortly. https://fbs.com/img/articles/1226/14...0x1200_q90.png We've got bearish patterns such a "High Wave" and a "Harami", so we could have a correction in the direction of the lower "Window". If a pullback from this level happens, there'll be an opportunity to have another upward price movement. More: https://fbs.com/analytics/articles/u...hammer%22_1226 |
Re: Market news and trade recommendations by FBS
EUR/USD: BULLS LOOKS STRONG
04:23 25.05.2017 Technical levels: support – 1.1200; resistance – 1.1250, 1.1300. Trade recommendations: Buy — 1.1210/00; SL — 1.1180; TP1 — 1.1250; TP2 – 1.1300. Sell — 1.1310; SL — 1.1330; TP1 — 1.1120; TP2 – 1.1080. Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the prices are under daily resistance 1.1250-1.1300. https://fbs.com/img/articles/1234/14...0x1200_q90.png More: https://fbs.com/analytics/articles/e...ks_strong_1234 |
Re: Market news and trade recommendations by FBS
GBP/USD: MARKET SUPPORTED BY CLOUD AGAIN
04:24 25.05.2017 Technical levels: support – 1.2960; resistance – 1.3070. Trade recommendations: Buy — 1.2980; SL — 1.2960; TP1 — 1.3070; TP2 — 1.3150. Reason: narrow bullish Ichimoku Cloud; horizontal Senkou Span A, but rising Senkou Span B; an irregular dead cross of Tenkan-sen and Kijun-sen over the Cloud; the prices are supported by Cloud and may go higher. https://fbs.com/img/articles/1235/14...0x1200_q90.png More: https://fbs.com/analytics/articles/g...oud_again_1235 |
Re: Market news and trade recommendations by FBS
MORNING BRIEF FOR MAY 25
05:53 25.05.2017 The US dollar dropped against many major currencies on less hawkish FOMC meeting minutes. Overall Fed’s policymakers seemed content to hike rate at the coming meeting in June if US economic information came in about in line with their expectations. The minutes also signaled that policymakers prefer a gradual reduction in their massive balance sheet. The Committee proposed the central bank set a cap on the amount of bonds that would be allowed to run off each month, initially determining it at a low level and then raising gradually every three months. Right after the FOMC minutes the 100-year US Treasury yield declined to 2.255% from Wednesday’s high at 2.295. The euro rose higher to 1.1235 despite passive comments from ECB’s members which bring into question the recent long positioning. Solid performance in EZ economic activity and risk reduction after the French presidential election might force ECB to shift their language at the upcoming meeting in June. Yesterday ECB’s policymakers released their latest Financial Stability report along with the ECB President Draghi’s speech in which he downplayed the side effects from negative rates and claimed that there is no reason to deviate further from the indications he provided in his April introductory statement. The yesterday’s recovery from the 1.167 low is lacking in momentum, and the odds for extension towards 1.3000 are still not high. Most likely, the pair will be trading sideways within 1.1160 – 1.2670 levels. Aussie came temporarily unhinged on the China’s credit rating downgrade as market participants use Aussie as a proxy for China risk. Then, it managed to recoup some of its losses amid broad USD weakening. In today’s Tokyo session, the pair slipped few points. Now, the AUD/USD currency pair is trading around 0.7500 mark. As long as 0.7430 is not touched we still anticipate a move higher towards 0.7560. USD/JPY hardly moved on the session. It’s now at 111.65 and expected to trade sideways in the short-term. Kiwi rose to 0.7050 in the course of the Asian session. A further upsurge towards key resistance at 0.7090 is not ruled out. USD/CAD sunk to 1.3390 level after the Bank of Canada was more upbeat about the economy than traders had expected. Brent oil futures were trading higher at $54.45 ahead of the start of the OPEC meeting in Vienna. Most likely OPEC producers will extend their agreement into the first quarter in attempt to drain persistent global supply. As we have OPEC meeting on the agenda, the oil prices might rise higher and send USD/CAD lower towards the support at 1.3380, or even lower towards 1.3350. More: https://fbs.com/analytics/articles/m...or_may_25_1241 |
Re: Market news and trade recommendations by FBS
NZD/USD: KIWI IS GOING UPWARDS
06:19 25.05.2017 Recommendations: hold long positions (BUY 0,695 SL 0,6895 TP 0,708), BUY 0,6995 SL 0,694 TP1 0,712 TP2 0,734. On the NZD/USD daily chart, the break of the diagonal resistance in the form of the upper border of the downward trading channel pushed the quotes higher. The bulls almost fulfilled the target 113% of the "Shark" junior pattern. Buyers are ready to set more ambitious goals and realize the senior shark Shark. Its target 88.6% can be found near the mark of 0.734. https://fxbazooka.com/img/articles/1...5_07_27_31.png On the NZD/USD hourly chart, there is a continuation of the upward movement towards the target 224% in the AB = CD pattern. A test of the resistance at 0.7055 can lead to the implementation of this target. https://fxbazooka.com/img/articles/1...5_07_27_48.png Recommendations: hold long positions (BUY 0,695 SL 0,6895 TP 0,708), BUY 0,6995 SL 0,694 TP1 0,712 TP2 0,734. More: https://fbs.com/analytics/articles/n...g_upwards_1243 |
Re: Market news and trade recommendations by FBS
GBP/USD: POUND IS WANDERING IN THE CHANNELS
06:25 25.05.2017 Recommendations: BUY 1,3035 SL 1,298 TP1 1,31 TP2 1,3135, SELL 1,293 SL 1,2985 TP 1,278. On the GBP/USD daily chart, there is a consolidation within the upwards trend. A breakout of the diagonal support followed by activation of the "Shark" pattern can result in the development of the correction towards 1.278. The odds for expansion are not high, the quotes might exhaust their rally at around 1.31 (target 161.8% in AB = CD). https://fxbazooka.com/img/articles/1...5_07_28_04.png On the GBP/USD hourly chart, there was a false breakout of the lower boundary of the triangle. Breakout of the support at 1.293 may result in a pullback. In contrast, a successful test of resistance at 1.3035 will create the prerequisites for the continuation of the rally. https://fxbazooka.com/img/articles/1...5_07_28_21.png More: https://fbs.com/analytics/articles/g..._channels_1246 |
Re: Market news and trade recommendations by FBS
EUR/USD: BULLS GOING TO TEST NEXT RESISTANCE
08:02 25.05.2017 https://fbs.com/img/articles/1248/14...0x1200_q90.png We've got a "Triple Bottom" pattern, so the price is rising. Therefore, bulls are likely going to test the next resistance at 1.1287 - 1.1307 in the short term. If a pullback from this area happens, there'll be an opportunity to have a bearish correction towards support at 1.1204 - 1.1171. https://fbs.com/img/articles/1248/14...0x1200_q90.png The price faced resistance at 1.1249, so there's a consolidation. In this case, the market is likely going to decline towards support at 1.1211 - 1.1204. However, if we see a pullback from these levels, bulls will have a chance to achieve resistance at 1.1287 - 1.1307. More: https://fbs.com/analytics/articles/e...esistance_1248 |
Re: Market news and trade recommendations by FBS
GBP/USD: "TRIANGLE" PUSHING PRICE HIGHER
08:04 25.05.2017 https://fbs.com/img/articles/1249/14...0x1200_q90.png The price is consolidating between the 34 Moving Average and resistance at 1.3057. Also, there's a triangle, so the pair is likely going to test the nearest resistance at 1.3057 - 1.3090. If a pullback from this area happens, there'll be an option to have a decline in the direction of the closest support at 1.2964 - 1.2945. https://fbs.com/img/articles/1249/14...0x1200_q90.png We've got a "Double Bottom", so the price has reached resistance at 1.2988. Also, there's a triangle, so bears are likely going to test the 89 Moving Average soon. Meanwhile, if a pullback from this line happens, bulls will probably try to test resistance at 1.3021 - 1.3028. More: https://fbs.com/analytics/articles/g...ce_higher_1249 |
Re: Market news and trade recommendations by FBS
TRADING THE OPEC MEETING
08:22 25.05.2017 Today the OPEC members are set to discuss in Vienna whether to prolong a production cut agreement reached in November 2016. An extension of the accord could potentially spark a rally in oil prices. In the following article, we will explicate how the deal has been executed, what are its effects. In conclusion, we will present 4 trading scenarios for the outcome of today’s OPEC meeting. Last autumn the cartel pledged to shave 1.2 million barrels per day off its output, cutting it from 33.7m to 32.5m barrels per day. The deal was forged due to a surprise agreement between Saudi Arabia, Iraq, and Iran. Saudi were hit the most, they had to lower output by almost 500K per day, while Iraq agreed to reduce its oil production only by 200K. Iran was allowed to increase its production to restore its market share after the period of the US-led sanctions. We must note OPEC demonstrated unprecedented discipline in the output cut deal execution. Among all the signing parties only Iraq, Angola and Algeria missed their targets slightly, while Saudi Arabia and UAE exceeded their commitments. The non-OPEC producers that supported the deal show were less disciplined with Russia missing its target and Kazakhstan, Malaysia actually boosting their production. OPEC members' compliance with the output cut deal https://fbs.com/img/articles/1250/14...0x1200_q90.png Overall, even the attempts to curb production kept oil prices above $50 for a quite long period of time. But some other factors have turned in a negative way for the OPEC striving to stem the global oil glut. Here the factors that distorted the effect of the OPEC agreement Following the oil prices increases, US oil industry increased its output at much higher volumes than it was expected. An ever-increasing number of drilling rigs in the first quarter of 2017 led to an even greater increase in oil production. Libya and Nigeria were exempt from the OPEC’s deal and they increase their output contributing to the erosion of the effects of production cut agreement. Demand for liquid fuel is softening in the key importers (China, India), and even in the US The US oil inventories have recently declined, but the number of oil stockpiles is still high. The OPEC expected that 6-month deal would normalize inventories, now it is obvious that more cuts are needed to drain the US oil reserves. OPEC trading scenarios 9-month extension of deeper cuts. The odds for the realization of the following scenario is quite high. This would result in a heavy lift of oil prices. 6-month extension. This is the most expected scenario until only recently. Global stockpiles are still at their record higher levels, and the extension of the deal through the end of this year wouldn’t be enough to elevate oil prices and reduce oil glut. With oil traders wanting deeper cuts, the extension for 6 months would be a disappointment and could send oil prices lower. No extension. This would be the most disastrous outcome for the oil prices that may drop to their lowest level well below the $50. More: https://fbs.com/analytics/articles/t...c_meeting_1250 |
Re: Market news and trade recommendations by FBS
EUR/USD: SECOND PULLBACK FROM 8/8 MM LEVEL IN A ROW
11:02 25.05.2017 https://fbs.com/img/articles/1252/14...0x1200_q90.png We've got the second pullback from 8/8 MM Level in a row. So, wave [y] of 2 may have been finished. In this case, bears are likely going to deliver wave (i), which means we should keep an eye on 6/8 MM Level as an intraday target. https://fbs.com/img/articles/1252/14...0x1200_q90.png There's a bearish impulse, which could be wave i of (i). 8/8 MM Level has acted as resistance twice. Moreover, wave ii seems to be ended, so we're likely going to see a decline in wave iii of (i) in the direction of 5/8 MM Level. More: https://fbs.com/analytics/articles/e..._in_a_row_1252 |
Re: Market news and trade recommendations by FBS
EUR/USD: "HIGH WAVE" STOPPED BULLS
12:18 25.05.2017 https://fbs.com/img/articles/1255/14...0x1200_q90.png There are bearish patterns such are a "Tower" and a "Shooting Star", which both have been confirmed enough. Therefore, the market is likely going to test the 34 Moving Average in the short term. If we see a pullback from this line, there'll be an opportunity to have another upward price movement. https://fbs.com/img/articles/1255/14...0x1200_q90.png We've got a bearish "High Wave" pattern, which has strong confirmation. In this case, the price is likely going to decline in the direction of the last low in the coming hours. More: https://fbs.com/analytics/articles/e...ped_bulls_1255 |
Re: Market news and trade recommendations by FBS
USD/JPY: BEARISH "SHOOTING STAR"
12:21 25.05.2017 https://fbs.com/img/articles/1256/14...0x1200_q90.png The 55 Moving Average is acting as resistance, so we've got a "Doji" and an "Engulfing" at the local high. However, these patterns haven't been confirmed enough, so the pair is likely going to test the 55 Moving Average once again. If we see a pullback from this line, bears will have a chance to achieve the nearest support level. https://fbs.com/img/articles/1256/14...0x1200_q90.png There's a consolidation, which is taking place on the one-hour chart. The 144 Moving Average has acted as resistance, so we've got a "Shooting Star" pattern. Under these circumstances, we could keep in mind the lower "Window" as the next bearish target. More: https://fbs.com/analytics/articles/u...g_star%22_1256 |
Re: Market news and trade recommendations by FBS
AUD/USD: BEARS BREAKDOWN CLOUD’S SUPPORT
04:53 26.05.2017 Technical levels: support – 0.7370, 0.7400/10; resistance – 0.7440. Trade recommendations: Sell — 0.7440; SL — 0.7460; TP1 — 0.7370; TP2 — 0.7340. Reason: narrowing bullish Ichimoku Cloud, falling Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are entered into the negative zone. https://fbs.com/img/articles/1268/14...0x1200_q90.png More: https://fbs.com/analytics/articles/a...s_support_1268 |
Re: Market news and trade recommendations by FBS
USD/JPY: TRADES CONTINUE IN CLOUDY AREA
04:54 26.05.2017 Technical levels: support – 111.50, 111.00; resistance – 112.20/30. Trade recommendations: Buy — 111.50; SL — 112.30; TP1 — 112.20; TP2 — 113.20. Reason: bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen; the prices keep staying in the cloudy area; strong support of horizontal Kijun-sen and Senkou Span A. https://fbs.com/img/articles/1269/14...0x1200_q90.png More: https://fbs.com/analytics/articles/u...oudy_area_1269 |
Re: Market news and trade recommendations by FBS
MORNING BRIEF FOR MAY 26
06:04 26.05.2017 Brent futures dropped to $51.00 from $54.65 overnight after OPEC and some non-OPEC producers agreed to extend output cuts until the end of the first quarter of 2018. Market participants expected longer and deeper cuts to curb a global oil glut. So, oil prices tumbled following the announcement. Prior they rose higher being driven by the talk around the extension of the supply cuts. This was the case of buying the rumor and selling the fact. GBP slumped below 1.2880 from 1.3015 after a YouGov poll showed that the gap between the two major UK parties is narrowing as we approach the official date of elections – June 8 (the poll indicated that Labour Party is within 5 points of Theresa May’s Conservatives). Further on, we expect a move towards 1.2830 on the GBP/USD technical chart. A break of the following level may send prices lower towards 1.2775. https://fbs.com/img/articles/1270/14...0x1200_q90.png Aussie was trading lower at 0.7428 because of the strengthening USD and falling iron ore prices. AUD/USD will likely consolidate within the range of 0.7380- 0.7480 in the short-term. The yen managed to find some strength today despite the strong USD. Japan’s headline inflation release in Tokyo morning was in line with expectations. Core figures hit its best level since April 2015. But Japanese core-core inflation is still subdued (it is at zero % level now). The BOJ pledged to keep its current accommodative policy until inflation figures hit 2%. USD/JPY is trading at 111.45 The yen has a scope of extension of its gains toward 110.20. On the upside, we see a strong resistance at 112.50 (near 100-day MA). EUR/USD is trading lower in the Asian session at 1.2000 from yesterday’s high at 1.2505. The recent comments from ECB President Mario Draghi about bank’s commitment to full implementation of its QE program put pressure on the single currency. Investors were disappointed with ECB refusing to wind down its bond purchase program at previous meetings. Today’s focus will be on the US economic data –durable goods orders (expected to rise in April), Revised UoM Consumer sentiment and most importantly preliminary GDP for the first quarter of 2017. USD/CAD spiked to 1.3495 overnight as OPEC members failed to commit to longer and deeper cuts. Brent oil futures is trading at 51.20 from yesterday’s high at $54.67 downgrading outlook for Loonie. More: https://fbs.com/analytics/articles/m...or_may_26_1270 |
Re: Market news and trade recommendations by FBS
GOLD IS TRAPPED IN THE TRIANGLE
06:24 26.05.2017 Recommendations: BUY $1262,5 SL $1252,5 TP $1315, SELL $1248 SL $1258 TP1 $1233 TP2 $1224. On the daily chart of gold, quotes are hovering near the upper border of the triangle. A break of the resistance and return of quotes to the upward trading channel can lead to the continuation of the rally towards $1315 per ounce (target 127.2% of the AB = CD pattern). In contrast, the return of the bullion to the long-term downward trading channel may result in the correction to the medium-term bullish trend. https://fxbazooka.com/img/articles/1...6_07_38_04.png On the hourly chart of gold, there is a consolidation within the triangle. A break of the resistance at $1262.5 will create prerequisites for the continuation of the rally. A successful test of the support at $1248.3 is fraught with the rollback. https://fxbazooka.com/img/articles/1...6_07_38_21.png More: https://fbs.com/analytics/articles/g..._triangle_1271 |
Re: Market news and trade recommendations by FBS
OIL: BULLS ARE PREPARING FOR THE ATTACK
06:26 26.05.2017 Recommendation: BUY 51.5 SL 50.5 TP1 52.8 TP2 53.9. On the daily chart of Brent futures, "bulls" failed to overcome resistance at $54.42 per barrel. As a result, we got a rollback and formation of the short-term downward trading channel. There is a room for a decline towards $48 (the intersection of two trading channels + 61.8% of the last long-term "bullish" wave). At the same time, the odds for rebound from the $50-51.5 convergence area are quite high. https://fxbazooka.com/img/articles/1...6_07_37_31.png On the hourly chart of Brent oil futures, the quotes reached the support area of $50.66-51.08. At the beginning of the second decade of May, here was an accumulation of speculative longs and formation of 113% target of the "Shark" pattern. This allows bulls to recoup their losses. https://fxbazooka.com/img/articles/1...6_07_37_47.png More: https://fbs.com/analytics/articles/o...he_attack_1272 |
Re: Market news and trade recommendations by FBS
EUR/USD: BULLISH "TRIANGLE"
07:44 26.05.2017 https://fbs.com/img/articles/1275/14...0x1200_q90.png The price is consolidating between resistance at 1.1267 and support at 1.1171. Also, there's a triangle, so the market is likely going to test the next resistance at 1.1278 - 1.1307 in the short term. If a pullback from this area happens, there'll be an opportunity to have a decline towards support at 1.1204 - 1.1171. https://fbs.com/img/articles/1275/14...0x1200_q90.png There's a consolidation, which is taking place along the Moving Averages. So, the pair is likely going to reach the nearest resistance at 1.1287 - 1.1307 in the coming hours. However, if we see a pullback from these levels, bears will have a chance to test the 55 Moving Average. More: https://fbs.com/analytics/articles/e...iangle%22_1275 |
| All times are GMT. The time now is 22:57. |
Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2026, vBulletin Solutions, Inc.