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Re: Market news and trade recommendations by FBS
GBP/USD: outlook for July 18-24
7/18/2016 British pound strengthened by more than 3% during the past week. Sterling recovered because of 2 main reasons: return of political stability to the UK and the Bank of England’s decision not to ease monetary policy in July. Theresa May replaced David Cameron as Britain’s Prime Minister. Although May was a supporter of the UK staying in the European Union, she underlined that “Brexit means Brexit” and the country will leave the EU. Still, it looks like the leaving will be a long process. British central bank didn’t cut the benchmark interest on Thursday, although such move was already priced in GBP/USD. As a result, traders started closing massive GBP shorts pushing the currency higher. Only one member of the central bank voted for a rate cut. Governor Carney decided to wait for the post0referendum economic data, but gave a strong signal of easing next month. Next week we may see more covering of GBP short positions, which should provide support for the pound. Note, though, that there are serious resistance levels lying ahead: 1.3500 and 1.3830. Taking into account the fact that more monetary stimulus will almost certainly come from the Bank of England in 3 weeks at the August meeting, investors will likely use the pound’s recovery to enter in new short positions. Support is at 1.3120 and 1.3000. In British economic calendar next week pay attention to inflation figures on Tuesday, labor market data on Wednesday and retail sales and public sector net borrowing on Thursday. Only very week figures could drive sterling significantly lower. https://new.fxbazooka.com/img/articl...SDDaily(5).png More: https://new.fxbazooka.com/analytics/9627 |
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EUR/USD: outlook for July 18-24
7/18/2016 During the past week EUR/USD remained within range of the 2 previous weeks. The pair got strength from higher EUR/GBP and EUR/JPY, but terror attack in Nice on Thursday together with good US statistics didn’t let the bulls to develop the move to the upside. Euro area’s inflation figures were in line with forecasts. Headline CPI posted only the second gain in 2016 and the figures are still far below the European Central Bank’s target. Traders will look forward to more policy easing from the ECB that will meet on Thursday. However, the expectations declined after the Bank of England decided to keep policy unchanged during the past week. In addition, as the ECB’s policy is already very accommodative, new steps tend to have less and less impact on EUR/USD. So, any short positions should have conservative targets. Other important events in the euro area’s economic calendar include Germany’s and region’s ZEW economic sentiment index on Tuesday and European flash manufacturing & services PMIs on Friday. On the daily chart 50-day MA went below 100-day MA providing bearish signal. Resistance lies at 1.1160 and 1.1260. Support is at 1.1000 and 1.0920. https://new.fxbazooka.com/img/articl...SDDaily(7).png More: https://new.fxbazooka.com/analytics/9628 |
Re: Market news and trade recommendations by FBS
GBP/USD: outlook for July 18-24
7/18/2016 British pound strengthened by more than 3% during the past week. Sterling recovered because of 2 main reasons: return of political stability to the UK and the Bank of England’s decision not to ease monetary policy in July. Theresa May replaced David Cameron as Britain’s Prime Minister. Although May was a supporter of the UK staying in the European Union, she underlined that “Brexit means Brexit” and the country will leave the EU. Still, it looks like the leaving will be a long process. British central bank didn’t cut the benchmark interest on Thursday, although such move was already priced in GBP/USD. As a result, traders started closing massive GBP shorts pushing the currency higher. Only one member of the central bank voted for a rate cut. Governor Carney decided to wait for the post0referendum economic data, but gave a strong signal of easing next month. Next week we may see more covering of GBP short positions, which should provide support for the pound. Note, though, that there are serious resistance levels lying ahead: 1.3500 and 1.3830. Taking into account the fact that more monetary stimulus will almost certainly come from the Bank of England in 3 weeks at the August meeting, investors will likely use the pound’s recovery to enter in new short positions. Support is at 1.3120 and 1.3000. In British economic calendar next week pay attention to inflation figures on Tuesday, labor market data on Wednesday and retail sales and public sector net borrowing on Thursday. Only very week figures could drive sterling significantly lower. https://new.fxbazooka.com/img/articl...SDDaily(5).png More: https://new.fxbazooka.com/analytics/9627 |
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AUD/USD: outlook for July 18-24
7/18/2016 AUD/USD breached resistance at 0.7570 at the beginning of the past week and spent the rest days consolidating above this level. Australian dollar rose as the nation’s labor market data were rather well showing that employment numbers have risen in recent months. Moreover, political uncertainty in Australia finally ended as the ruling coalition managed to secure majority in the new parliament that will allow it’s to form a government. In addition, the overall market’s risk sentiment improved encouraging demand for Aussie. Data from China was especially helpful. Technically the break above resistance line connecting April and June highs is a positive signal. Not, however, that pairs approaching resistance of the descending 200-week MA in the 0.7700 area. The recent move to the upside isn’t strongly supported by technical indicators. Good data from the United States and some expectations of the Reserve Bank pf Australia’s rate cut in August may put AUD/USD under renewed bearish pressure. The RBA will release July monetary policy meeting minutes on Tuesday. Support is at 0.7600 ahead of 0.7500 and 0.7475. https://new.fxbazooka.com/img/articl...SDDaily(6).png More: https://new.fxbazooka.com/analytics/9630 |
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USD/JPY: outlook for July 18-24
7/18/2016 It was a week of a 5% correction to the upside in USD/JPY: the pair rose to 106.30 showing the biggest weekly gain since 1999. Yen weakened for 2 reasons. Firstly, former Federal Reserve Chairman Ben Bernanke met with Japanese authorities fueling speculation that the Bank of Japan might provide "helicopter money", which would involve the central bank directly financing government spending. Secondly, the market’s risk sentiment improved, and demand for Japanese yen as a safe haven currency declined. Britain managed to restore political stability as Theresa May became new Prime Minister, while Chinese data eased some concerns about the nation’s economic slowdown: latest growth, industrial output and retail sales figures exceeded forecasts. Next week there will be few economic data releases in both the US and Japan, so the fundamental picture probably won’t change much. Above 106.60 (200-week MA, downtrend resistance line) resistance is at 107.60 (April 4 lows), 108.60 (100-day MA) ahead of 110.00 (psychological level). Support is at 103.80 and 102.70. https://new.fxbazooka.com/img/articl...PYDaily(3).png More: https://new.fxbazooka.com/analytics/9629 |
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GBP/USD & MPC member's speech: Looking to resume the post-Brexit's bearish bias?
7/18/2016 Following a very volatile week for GBP/USD, we'll have today at 08:15 GMT a speech from London by MPC member Martin Weale, whom it's expected to talk about Brexit, and we'll see if he gives further hints about a rate hike or cut in August. It would be interesting to see if Weale can provide that because Cable was profoundly affected by recent positive US economic data that strengthened the US dollar, but bear in mind that the Bank of England noted about low inflation levels. The technical scenario for the pair at H1 chart is giving a strong support located around the 1.3103 level, where we can found the 200 SMA. Above that zone, we can expect a rebound towards the 1.3317 level and a breakout above it will expose the 1.3458, which was a significant resistance during last week, and that will happen if Weale's speech is more hawkish than expected. In the dovish scenario, GBP/USD should consolidate before the 1.3103 to test the historical lows below the 1.2850 mark. https://new.fxbazooka.com/img/articl...BPUSDH1(3).png More: https://new.fxbazooka.com/analytics/9632 |
Re: Market news and trade recommendations by FBS
GBP/USD & MPC member's speech: Looking to resume the post-Brexit's bearish bias?
7/18/2016 Following a very volatile week for GBP/USD, we'll have today at 08:15 GMT a speech from London by MPC member Martin Weale, whom it's expected to talk about Brexit, and we'll see if he gives further hints about a rate hike or cut in August. It would be interesting to see if Weale can provide that because Cable was profoundly affected by recent positive US economic data that strengthened the US dollar, but bear in mind that the Bank of England noted about low inflation levels. The technical scenario for the pair at H1 chart is giving a strong support located around the 1.3103 level, where we can found the 200 SMA. Above that zone, we can expect a rebound towards the 1.3317 level and a breakout above it will expose the 1.3458, which was a significant resistance during last week, and that will happen if Weale's speech is more hawkish than expected. In the dovish scenario, GBP/USD should consolidate before the 1.3103 to test the historical lows below the 1.2850 mark. https://new.fxbazooka.com/img/articl...BPUSDH1(3).png More: https://new.fxbazooka.com/analytics/9632 |
Re: Market news and trade recommendations by FBS
EUR/USD: the trick of the bears
7/18/2016 EUR/USD is consolidating within 1.1000-1.1750 range on the daily chart. The bears are in control. This may be seen from the fact that the pair breached thw lower border of the medium-term uptrend and then retested it. We recommend selling the pair on its attempts to recover. https://new.fxbazooka.com/img/articl...8_07_44_43.png On H1 EUR/USD reached 88.6% of the "Shark" pattern's target. After that there was a correction. The pair's currently finishing to form 5-0 pattern. Recoil from 1.1079 (38.2%), 1.1095 (50%) and 1.1112 (61.8%) will provide a signal for opening short positions. https://new.fxbazooka.com/img/articl...8_07_45_01.png Recommendation: SELL 1,1079 SL 1,1150 TP 1,0890; SELL 1095 SL 1,1150 TP 1,0890; SELL 1,1112 SL 1,1150 TP 1,0890 EUR More: https://new.fxbazooka.com/analytics/9633 |
Re: Market news and trade recommendations by FBS
GBP/USD: the bulls got tired
7/18/2016 GBP/USD reached 88.6% of the "Shark" pattern's target. If the bulls fail to return above resistance at 1.3323 in the near term (23.6% Fibo of the last descending wave), the bears will be able to regain control. Trend remains bearish. It's target is at 1.26 (127.2% according to AB=CD). As long as the pair remains below 1.3323, sell pound versus the US dollar. https://new.fxbazooka.com/img/articl...8_07_56_28.png On H1 GBP/USD came to the lower border of the short-term bullish channel. Successful test of 1.3167 with the following return to 1.3093 will trigger the "Shark" pattern.Target is at 1.2920. https://new.fxbazooka.com/img/articl...8_07_56_48.png Recommendation: SELL 1,3167 SL 1,3267 TP1 1,3017 TP2 1,2920 GBP More: [URL=https://new.fxbazooka.com/analytics/9634]https://new.fxbazooka.com/analytics/9634[/UIRL] |
Re: Market news and trade recommendations by FBS
EUR/USD: "Double Top" bring bears back into the market
7/18/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png The price has faced a resistance at 1.1168, which was strengthened by the 89 Moving Average. Also, there’s a “Double Top” pattern, which brought bears into the market. Finally, sellers reached a support at 1.1015, which led to the current upward correction. Considering a local “V-Bottom” pattern, the pair is likely going to achieve the nearest support at 1.1120. If a pullback from here happens afterwards, there’ll be a chance to see another downward movement in the direction of a support at 1.1001 – 1.0970. https://new.fxbazooka.com/img/articl...016-EUR-H1.png As we can see on the one-hour chart, bears got a support at 1.1014, which led to form a “V-Bottom” pattern, so there’s a consolidation under the nearest resistance at 1.1074. Therefore, the market is likely going to rise towards the next resistance at 1.1097 – 1.1120 in the short term. However, if we see a pullback from this area, bears will probably try to return into the market. More: https://new.fxbazooka.com/analytics/9636 |
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GBP/USD: "Flag" points to a possible intraday upward movement
7/18/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png The pair reached the 55 Moving Average, so we’ve got a “Double Top” pattern, which led to decline towards a support at 1.3116. There’s a local “V-Bottom”, so the market is likely going to get a resistance at 1.3471 in the short term. If a pullback from this level happens later on, bears will probably try to catch a support at 1.3015 – 1.2849. The pair reached the 55 Moving Average, so we’ve got a “Double Top” pattern, which led to decline towards a support at 1.3116. There’s a local “V-Bottom”, so the market is likely going to get a resistance at 1.3471 in the short term. If a pullback from this level happens later on, bears will probably try to catch a support at 1.3015 – 1.2849. https://new.fxbazooka.com/img/articl...016-GBP-H1.png There’s a support at 1.3104, which led to form a “Double Bottom”, so the price is consolidating under between Moving Averages. Also, we’ve got a possible local “Flag” pattern, so the pair is likely going to reach a resistance at 1.3399 during the day. Considering a probable pullback from this level, we should keep an eye on a support at 1.3104 – 1.3015 as the next bearish target. More: https://new.fxbazooka.com/analytics/9637 |
Re: Market news and trade recommendations by FBS
EUR/USD is holding ground
7/19/2016 The main currency pair keeps consolidating in the 1.1-1.1175 area. The bulls and the bears are currently fighting around the important level of 1.1072. It corresponds to 23.6% Fibo of the last descending wave. https://new.fxbazooka.com/img/articl...9_07_14_04.png On H1 EUR/USD reached 78.6% of the "Shark" pattern's target and then started correcting to 50% of the last bearish wave according to the 5-0 pattern. Close to 1.1095 there's an upper border of the short-term bullish trend, as well as the target at 161,8% according to AB=CD. This means the area of convergence. The inability of the bulls to break above this area will be a signal to open short positions. https://new.fxbazooka.com/img/articl...9_07_13_43.png Recommendation: SELL 1095 SL 1,1150 TP 1,0890 EUR More: https://new.fxbazooka.com/analytics/9655 |
Re: Market news and trade recommendations by FBS
EUR/USD & German ZEW indicator: Looking to trade below 1.1000?
7/19/2016 Today at 09:00 GMT will be released the German ZEW economic sentiment, a survey based on financial experts' assessment of Germany's economy for next six months, in terms of directions. Last reading was very positive, with a rising from 6.4 to 19.2, beating the expectations of 5.1 for June. However, July's forecast is seeing a decline to 8.2 and that could weigh on EUR against other currencies on the Forex market. The H1 chart's view for EUR/USD is sideways, as the pair is still trading around the 200 SMA zone. A pullback can happen towards the 1.1042 level, which is very close to a bullish trend line projected from post-Brexit's low. If ZEW reading is weaker-than-expected, then we could see a decline to the support level of 1.1015. However, if July's release is better than analysts' forecast, we should see a rally beyond 1.1111 resistance zone. https://new.fxbazooka.com/img/articl...URUSDH1(3).png More: https://new.fxbazooka.com/analytics/9654 |
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USD/JPY: the bulls want more
17/19/2016 On the daily USD/JPY chart the bulls are getting ready to seize the upper border of the downtrend channel. If they succeed, the odds of the bullish reversal will increase. The buyers' attack is aimed at 127.2% of the Crab pattern target. Close to it there's 38.2% Fibo of the last descending wave. As a result, we may see the convergence area of 108.5/109.00. The closest support is at 104.87. https://new.fxbazooka.com/img/articl...9_07_24_54.png On H1 USD/JPY correction to 104.83 (23.6% Fibo of the latest bullish wave), 104.4 (target at 78.6% of the Gartley pattern) and 103.9 (38.2% Fibo) should be used to open long positions. https://new.fxbazooka.com/img/articl...9_07_25_11.png More: https://new.fxbazooka.com/analytics/9656 |
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EUR/USD: new local high is coming soon because of the "Flag"
7/19/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png There’s a “Double Bottom”, which led to the current upward price movement. Also, we’ve got a “Triangle”, so the market is likely going to move up in the direction of the 55 Moving Average. If we see a pullback from this line afterwards, bears will probably try to get a support at 1.1015 – 1.1001. https://new.fxbazooka.com/img/articl...016-EUR-H1.png As we can see on the one-hour chart, there’s a flat in progress between a resistance by the Moving Average lines and a support by the level at 1.1057. At the same time, we’ve got a “Flag”, so the pair is likely going to reach the closest resistance area, which is near the local downtrend. However, if bulls be stopped here, there’ll be an opportunity to see a decline towards a support at 1.1024 – 1.1014. More: https://new.fxbazooka.com/analytics/9657 |
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GBP/USD: bearish "Triple Tops"
7/19/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png The price has formed a “Double Top” pattern, which led to decline towards a support at 1.3116. Nevertheless, there’s a possible “Flag”. If it confirms, the price is likely going to get a support at 1.3116 – 1.3015 in the short term. However, is a pullback from here happens afterwards, bulls will probably try to catch a resistance at 1.3471 – 1.3614. https://new.fxbazooka.com/img/articl...016-GBP-H1.png We’ve got a “Triple Top”, so the price is consolidating under the Moving Averages. Therefore, the market is likely going to decline towards a support at 1.3104 during the day. If bears can’t break this level and we see a pullback from it, an upward intraday movement will be on the table. More: https://new.fxbazooka.com/analytics/9658 |
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EUR/USD: the Euro keeps standing under a cloud
7/19/2016 During yesterday's session the Eurodollar traded near the lower boundary of the four-hour Ichimoku cloud. Trades was moderate, in a very narrow range. We pointed to the cross formed by the dead cross and the expanding of the cloud to downward. Therefore we still to expect the resumption of downtrend. Technical levels: support - 1.1030; resistance – 1.1090. Trade recommendations: 1. Sell — 1.1070/80; SL — 1.1100; TP1 — 1.1000; TP2 — 1.0950. https://new.fxbazooka.com/img/articl...urusdh4(8).png More: https://new.fxbazooka.com/analytics/9659 |
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AUD/USD: the Aussie fell into a cloud
7/19/2016 The Australian dollar yesterday stood firm over a four-hour Ichimoku cloud. But the Bulls did not want to continue the uptrend – there is a resistance of the Kijun-Sen and Tenkan-sen lines. Today’s morning the Aussie unexpectedly passed their position, falling into the cloudy zone. And now the trades are conducted in the area of 75th figure. Obviously, we will see testing the lower boundary of the cloud so soon. Technical levels: support – 0.7490, 0.7470; resistance – 0.7560. Trade recommendations: 1. Buy — 0.7490; SL — 0.7470; TP1 — 0.7560; TP2 — 0.7600. https://new.fxbazooka.com/img/articl...udusdh4(7).png More: https://new.fxbazooka.com/analytics/9660 |
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USD/JPY: the Bulls stumbled on 106.00.
7/19/2016 The currency pair USD/JPY kept above the line Tenkan-sen during yesterday’s session and the bulls tried to continue the uptrend. However, in the area of 106.30/40, as we noted earlier, there is a strong resistance that does not pass its higher. Given the local overbought of the market we expect a correction to the Ichimoku cloud. Technical levels: support – 105.10; resistance – 106.00, 106.40. Trade recommendations: 1. Sell — 106.00; SL — 106.20; TP1 — 105.10; TP2 — 104.10. https://new.fxbazooka.com/img/articl...sdjpyh4(8).png More: https://new.fxbazooka.com/analytics/9661 |
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EUR/USD: bears is about to deliver a new low
7/19/2016 https://new.fxbazooka.com/img/articl...07eurusdh4.png The main trend is a still bearish. Also, the middle of the last huge black candle has acted as a resistance. However, the last “Engulfing” pattern hasn’t been confirmed, so the market is likely going to test the nearest resistance once again. If we see a pullback from this line, bears will probably try to deliver a new low. As we can see on the Daily chart, there’s a bullish “Harami”, but it hasn’t been confirmed yet. Anyway, bears are likely going to reach the closest support line soon. https://new.fxbazooka.com/img/articl...07eurusdh1.png The price has been moving up and down in a range of the “Window”. Moreover, there’s a strong support by the 55 Moving Average, but the last candles are so variable. Under this circumstances, the pair is likely going to get a resistance on the 89 Moving Average, which could reverse the price movement in the direction of the last low. More: https://new.fxbazooka.com/analytics/9671 |
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USD/JPY: "Window" has been waiting for bulls
7/19/2016 https://new.fxbazooka.com/img/articl...07usdjpyH4.png Bulls are very strong, so we don’t have any reversal patterns so far. Also, the price has got a support on the 144 Moving Average, so the market is likely going to reach the nearest “Window” in the short term. As we can see on the Daily chart, the last “Harami” pattern hasn’t been confirmed, which makes possible an achievement of the 34 Moving Average. https://new.fxbazooka.com/img/articl...07usdjpyH1.png The price found a support on the 13 Moving Average. Moreover, there’s a confirmed “Hammer”, so the pair is likely going to test the last high shortly. If we see a pullback from here, there’ll be a chance to see a local correction towards the Moving Averages. More: https://new.fxbazooka.com/analytics/9672 |
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EUR/GBP rising inside the minor B-wave
7/19/2016 EUR/GBP rising inside the minor B-wave Next buy target – 0.8500 EUR/GBP continues to rise inside the minor B-wave of the intermediate ABC correction (4) from the start of this month. The active B-wave started earlier last week – when the price corrected up from the support zone lying between the support level 0.8300 and the 38.2% Fibonacci correction of the previous sharp intermediate impulse wave (3) from the end of June. EUR/GBP is expected to rise further in the active B-wave toward the next buy target at the resistance level 0.8500 (forecast price calculated for the termination of wave B). Buy stop-loss can be placed below the aforementioned support level 0.8300. https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/9673 |
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EUR/AUD rising inside minor impulse wave 3
7/19/2016 EUR/AUD rising inside minor impulse wave 3 Next buy targets - 1.4900 and 1.5000 EUR/AUD continues to rise inside the minor impulse wave 3, which started earlier - when the pair reversed up for the support zone lying between the major long-term support level 1.4490 (which reversed the previous waves (C), A and (2), as can be seen from the daily EUR/AUD chart below) and the lower daily Bollinger Band. EUR/AUD is expected to rise further in the active impulse waves 3, (3) and ③ toward the next buy target at the resistance level 1.4900 – the breakout of which can lead to further gains toward the next round resistance level 1.5000. https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/9674 |
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Key options levels: July 18-24
7/19/2016 EUR/USD · • Closest resistance levels: 1.1162; 1.1217/45; 1.1282; 1.1322 · • Closest support levels: 1.1003; 1.0976/45; 1.0871; 1.0829 · • Bullish risks range: 1.1162-1.1505 · • Bearish risks range: 1.1030-1.0829 EUR/USD keeps being under control by buyers. In mid-term perspective, the currency pair is still tending to be in decline (main goal of the bears is to reach 1.0871). Attaining 1.1003 level paves the way for levels 1.0976 and 1.0871. The fallback presupposes hitting 1.1162 and getting higher, which is the alarm for buying the pair with targets at 1.1217 and 1.1282. https://new.fxbazooka.com/img/articl...RUSD(6)(1).png GBP/USD · • Closest resistance levels: 1.3307; 1.3359; 1.3403/54; 1.3514 · • Closest support levels: 1.3034; 1.2981; 1.2921; 1.2888 · • Bullish risks range: 1.3307-1.3514 · • Bearish risks range: 1.3034-1.2854 GBP/USD can continue the correction upwards, though a change risks are highly expected this week. The mid-term related scenario can be described as moderately-negative. The spike to 1.3307 paves the way for 1.3359 and 1.3403. The fallback is downwards movement to 1.3034. which is the alarm for selling with targets at 1.2981 and 1.2921. https://new.fxbazooka.com/img/articl...PUSD(5)(1).png USD/JPY o • Closest resistance levels: 105.71; 106.15/51; 106.99; 107.93 o • Closest support levels: 103.61; 102.98; 102.25; 101.47 o • Bullish risks range: 105.71-107.93 o • Bearish risks range: 103.61-100.67 USD/JPY holds staying positive. The mid-term trend keeps shifting upwards. The range for buyers looks strong enough to absorb decline attempts. The spike to 105.71 paves the way for 106.15 and 106.99. The buyers should press the trigger when it reaches 103.61, targets are 102.98 and 102.25 https://new.fxbazooka.com/img/articl...DJPY(5)(1).png USD/CAD o • Closest resistance levels: 1.3033; 1.3079; 1.3134; 1.3200 o • Closest support levels: 1.2852; 1.2812; 1.2763; 1.2706 o • Bullish risks range: 1.3033-1.3350 o • Bearish risks range: 1.2852-1.2706 USD/CAD has got prepared for the growth. Bulls hold dominance in mid-terms. Rise higher 1.3033 sets the scene for new wave towards 1.3079 and 1.3134. Short positions are worthy to place if price consolidates lower 1.2852; targets are 1.2812 and 1.2763. https://new.fxbazooka.com/img/articl...DCAD(6)(1).png More: https://new.fxbazooka.com/analytics/9675 |
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USD/CAD & Oil Prices: 1.3100 on the road?
7/20/2016 The decline in oil's prices is still weighing on CAD, at least during this week, as we can see a bullish consolidation on the USD/CAD pair above the 200 SMA at H1 chart. During yesterday, WTI crude oil futures settled down 1.30%, quoting at $44.65 per barrel. In addition, Crude Oil Inventories came weaker-than-expected, with -2300K, against 2207K registered last week. That's because of current risk-off sentiment on markets. Current outlook on the Loonie at H1 chart is calling for more upside, as the pair is looking to break the strong resistance around the 1.3046 level. If that happens, then we can see a rally towards the July 12th high, around the 1.3130 price zone. However, we should take in mind that USD/CAD is following a bullish trend line projected from July 15th low. If the pair achieves in break it, then we can see a decline to the 1.2900 on a mid-term basis. https://new.fxbazooka.com/img/articl...SDCADH1(1).png More: https://new.fxbazooka.com/analytics/9676 |
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EUR/USD: euro was caught by the bears
7/20/2016 On the daily EUR/USD chart the pair came to the lower border of the 1.1-1.1175 consolidation range. Successful test of support will lead the pair further down to the target of в AB=CD pattern at 161.8% (1.0890). Our earlier signal to sell from 1.1079 was successful. The short position was opened. We recommend to place the stop order to the breakeven point. https://new.fxbazooka.com/img/articl...0_07_06_14.png On H1 EUR/USD the AB=CD pattern is active. Its 224% target is at 1,.955. The nearest support is at 1.1038. https://new.fxbazooka.com/img/articl...0_07_06_33.png Recommendation: hold short positions. EUR More: https://new.fxbazooka.com/analytics/9677 |
Re: Market news and trade recommendations by FBS
GBP/USD: the bears restore the trend
7/20/2016 On the daily GBP/USD chart the bears restore the downtrend. The pair moves towards the target of AB=CD at 127.2% (1.261). Our recommendation to sell British pound from 1.3167 was successful. The short position was opened. Move the Stop Loss to a breakeven point. https://new.fxbazooka.com/img/articl...0_07_11_02.png On H1 the target is at 1.291. Here's the target of the "Shark" pattern. The nearest resistance is at 1.3145. https://new.fxbazooka.com/img/articl...0_07_11_20.png Recommendation: hold short positions. GBP More: https://new.fxbazooka.com/analytics/9678 |
Re: Market news and trade recommendations by FBS
EUR/USD: the Euro resumed its downtrend
7/20/2016 During yesterday's session the Eurodollar finally bounced from the bottom of the Ichimoku cloud and resumed the downtrend. By the end of the day the currency pair rates fell to lows of two weeks, to the figure of 1.1000. Ichimoku indicator’s mood is now completely bearish. At the same time there is a local overbought market now. It is possible returning of the prices to the Tenkan-sen. Technical levels: support - 1.1000; resistance – 1.1050. Trade recommendations: 1. Sell — 1.1050; SL — 1.1070; TP1 — 1.1000; TP2 — 1.0950. https://new.fxbazooka.com/img/articl...urusdh4(9).png More: https://new.fxbazooka.com/analytics/9679 |
Re: Market news and trade recommendations by FBS
GBP/USD: the Pound is under a cloud
7/20/2016 The Pound was unable to overcome the resistance of Tenkan-Sen and Kijun-Sen during yesterday's session. Bounced from 1.3270 the market has continued decreasing and reached the levels of the Ichimoku clouds lower border. Today's trading is in the negative zone and the Bulls have a less and less chances for the correction to 1.4000. In the near future the bearish sentiment on the market will remain. Under the influence of the dead cross and the Ichimoku cloud the prices could fall to 1.2930. Technical levels: support – 1.2930; resistance – 1.3130/50. Trade recommendations: 1. Sell — 1.3150; SL — 1.3170; TP1 — 1.2930; TP2 — 1.2860. https://new.fxbazooka.com/img/articl...bpusdh4(1).png More: https://new.fxbazooka.com/analytics/9680 |
Re: Market news and trade recommendations by FBS
USD/JPY: the spring continues to shrink
7/20/2016 The currency pair USD/JPY continues to stay above the Tenkan-Sen line. The Bulls could not continue the uptrend despite its efforts. As we said earlier, there is a strong resistance in the area of 106.30/40. Therefore, if today this level will not be passed, we will expect a correction to the Ichimoku cloud. Technical levels: support – 105.10; resistance – 106.00, 106.40. Trade recommendations: 1. Sell — 106.00; SL — 106.20; TP1 — 105.10; TP2 — 104.10. More: https://new.fxbazooka.com/analytics/9681 |
Re: Market news and trade recommendations by FBS
EUR/USD: "Double Bottom" points to a possible correction
7/20/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png The last “Triangle” has been broken. However, bears found a support at 1.1001 afterwards, so currently we’ve got a local upward correction. Therefore, the market is likely going to reach the closest resistance at 1.1057 – 1.1083 in the short term. If a pullback from this area arrives later on, sellers will probably try to achieve the next support at 1.0970. https://new.fxbazooka.com/img/articl...016-EUR-H1.png As we can see on the one-hour chart, the price has been moving in an intraday flat’s range since a support at 1.1001 was reached. Also, there’s a possible “Double Bottom” pattern, so bulls are likely going to try to get a resistance near the local downtrend. Perhaps, a pullback from here arrives afterwards. If so, bears will deliver a new low shortly. More: https://new.fxbazooka.com/analytics/9683 |
Re: Market news and trade recommendations by FBS
GBP/USD: "Triple Top" led to decline
7/20/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png The price has been falling down. However, bears faced a support at 1.3116, so the market is likely going to reach a resistance at 1.3226 – 1.3336. If a pullback from this area arrives afterwards, there’ll be an opportunity to see another downward movement in the direction of the next support area at 1.3015 – 1.2849. https://new.fxbazooka.com/img/articl...016-GBP-H1.png The last consolidation along the Moving Averages was finally ended by the strong bearish rally. Nevertheless, the price found a support at 1.3104, which led to the current local flat. So, the pair is likely going to get a resistance at 1.3273 – 1.3313. If we see a pullback from this area, bears will probably try to achieve a support at 1.3015 – 1.2970. More: URL=https://new.fxbazooka.com/analytics/9688]https://new.fxbazooka.com/analytics/9688[/URL] |
Re: Market news and trade recommendations by FBS
Large banks: sell NZD/USD
7/20/2016 Barclays: Sell Limit at 0.7182, Take Profit 0.7005, Stop Loss 0.7271 Credit Suisse: Sell Limit at 0.7140, Take Profit 0.7005, Stop Loss 0.7195 Analysts at Citigroup claim that NZD/USD may fall by 3%. The fall may be triggered by the release of the Reserve Bank of New Zealand’s economic assessment late on Thursday. Analysts at Credit Agricole, however, point out that the market has already priced in the RBNZ’s dovish comments, so the central bank needs to promise an August rate hike to maintain bearish trend in NZD/USD. More: https://new.fxbazooka.com/analytics/9693 |
Re: Market news and trade recommendations by FBS
EUR/USD: "Hammer" & "Harami" highlight possibility of bullish correction
7/20/2016 https://new.fxbazooka.com/img/articl...07eurusdh4.png The middle of the last huge black candle acted as a resistance, so we’ve got an “Engulfing” pattern, which led to the current decline. However, the price formed a pullback from the closest support line, which makes possible an achievement of the nearest “Window”. As we can see on the Daily chart, the last “Harami” hasn’t been confirmed. Therefore, we don’t have any reversal pattern so far. To sum up, there’s possibility to see a local upward correction, but bears are still in the game, so new lows are very likely. https://new.fxbazooka.com/img/articl...07eurusdh1.png There’re a “Hammer” and a “Harami” at the local low. So, the market is likely going to a local upward correction in the direction of the nearest resistance level and the 34 Moving Averages line. More: https://new.fxbazooka.com/analytics/9695 |
Re: Market news and trade recommendations by FBS
USD/JPY: bulls going to climb ever higher
7/20/2016 https://new.fxbazooka.com/img/articl...07usdjpyH4.png The price has been rising since a “Hammer” formed at the last low. Also, the pair faced a support on the 144 Moving Average, which led to form a “Harami” pattern. Therefore, bulls are likely going to move on towards the nearest “Window”. As we can see on the Daily chart, there’s the unconfirmed bearish “Harami”, so today’s candle will probably be a white one. https://new.fxbazooka.com/img/articl...07usdjpyH1.png The main upward trend is still on the table, which was supported by the 13 & 34 Moving Averages. Moreover, the last bullish “Harami” has been confirmed, so the price is likely going to continue rising until any bearish pattern arrives. More: https://new.fxbazooka.com/analytics/9696 |
Re: Market news and trade recommendations by FBS
[B]NZD/USD falling inside minor correction (ii)[/B\
7/20/2016 NZD/USD falling inside minor correction (ii) Next sell target – 0.6980 NZD/USD recently reversed down sharply from the resistance zone lying between the resistance level 0.7300 (top of wave (iii) and the previous buy target set in our earlier forecast for this currency pair), upper daily Bollinger Band and the resistance trendline of the wide daily up channel from January. The downward reversal from this resistance zone started the active minor correction (ii). NZD/USD is likely to fall further to the next sell target at the strong support level 0.6980 (which reversed the price twice in June) - intersecting with the 50% Fibonacci correction of the previous sharp upward impulse from May. [IMGhttps://new.fxbazooka.com/img/articles/9697/NZDUSD_-_Primary_Analysis_-_Jul-20_1456_PM_(1_day).png[/IMG] More: https://new.fxbazooka.com/analytics/9697 |
Re: Market news and trade recommendations by FBS
USD/TRY rising inside minor impulse wave 3
7/20/2016 USD/TRY rising inside minor impulse wave 3 Next buy targets - 3.0600 and 3.1000 USD/TRY has been rising in the last two weeks inside the minor impulse wave 3 of the intermediate impulse wave (3) from May. The active impulse wave (3) started when the pair reversed up from the support zone lying between the support level 2.800 (which also previously reversed the earlier primary ABC correction ④ from September of 2015), lower weekly Bollinger Band and the 38.2% Fibonacci retracement of the previous sharp upward impulse from the start of 2015. USD/TRY is likely to rise further to the next buy target at the resistance level 3.0600, the breakout of which can lead to further gains toward the next strong resistance level 3.1000. https://new.fxbazooka.com/img/articl...M_(1_week).png More: https://new.fxbazooka.com/analytics/9698 |
Re: Market news and trade recommendations by FBS
EUR/USD before ECB's meeting: No major changes on current policy?
7/21/2016 Today at 11:45 GMT we'll know the interest rate decision from the European Central Bank, which currently holds the numbers at zero. Analysts don't expect any major changes in the current economic policy's stance from the central bank, as we have been seeing the current post-Brexit developments in terms of economy. BoE didn't change their interest rates and most probably the ECB won't do it. One of the topic to be on discussion probably will be the situation on Italian banks. The technical picture for EUR/USD at H1 chart is still bearish and showing a consolidation below the 200 SMA. Currently, the pair is being supported by the 1.0987 level, where a breakout should open the doors to test the 1.0942 price zone. A dovish stance from ECB could send the pair towards the psychological level of 1.0900 approximately. In the another scenario, EUR/USD should break the 1.1041 level and that could push the pair towards the highs from July 15th. https://new.fxbazooka.com/img/articl...URUSDH1(4).png More: https://new.fxbazooka.com/analytics/9699 |
Re: Market news and trade recommendations by FBS
EUR/USD: bears made a stop
7/21/2016 On the daily chart EUR/USD failed to break below support at 1.1 and formed "doji" as a result. As the high of this bar was retested, the bulls seized the initiative for a time being. The level of 1.1072 is acting as resistance. Here's 23,8% Fibo of the latest descending wave. https://new.fxbazooka.com/img/articl...1_07_17_37.png On H1 EUR/USD reached 161,8% target of AB=CD and resistance at 1.1038 I mentioned in the previous article. If the sellers manage to return the price to the short-term bearish channel, the risks of the downtrend resumption will increase. As long as EUR/USD is below 1,1127 (lower border of the uptrend channel, 78,6% Fibo of the latest descending wave, the market will remain bearish. https://new.fxbazooka.com/img/articl...1_07_17_54.png More: https://new.fxbazooka.com/analytics/9700 |
Re: Market news and trade recommendations by FBS
AUD/USD looks for a growth driver
7/21/2016 AUD/USD tested the lower border of the short-term uptrend on the daily chart with the further recoil to the upside. If the bears find strength for another attack, and succeed, the pair may fall to convergence areas of 0.7405 and 0.7302-0.7342. The lower border of the medium-term bullish channel is nearby. https://new.fxbazooka.com/img/articl...1_07_27_35.png On H1 AUD/USD breached above the upper border of the current bullish channel and activated the "Shark" pattern. Its 161.8% target is at 0.7565. A bit higher is the lower border of the bullish channel. The failure at the convergence area will trigger selling. https://new.fxbazooka.com/img/articl...1_07_27_51.png More: https://new.fxbazooka.com/analytics/9701 |
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