Market news and trade recommendations by FBS

[riki143]

USD/JPY: plenty of bullish patterns
7/29/2016



There’s a “Harami” at the local low, but it hasn’t been confirmed yet. So, the market is likely going to get a resistance on the two nearest “Windows”, which could reverse the price movement into the direction of the local low. As we can see on the Daily chart, the last “Harami” is still unconfirmed, but if the price finds a lodgement under the closest “Window”, then bears will probably try to move on.



We’ve got plenty of bullish patterns such a “High Wave”, an “Engulfing” and a “Harami”. However, all of them have a quite weak confirmation, so the coming upward movement could be just a small correction.

More:
https://new.fxbazooka.com/analytics/9835

[riki143]

USD/CHF under bearish pressure
7/29/2016

USD/CHF under bearish pressure
Next sell target – 0.9700
USD/CHF recently reversed down sharply from the resistance zone lying between the resistance levels 0.9950 and 0.9900 (this resistance zone has been reversing the price from the end of May). This resistance zone was further strengthened by the upper daily Bollinger Band. The downward reversal from this resistance area created the daily Bearish Engulfing (encircled below) – which marked the start of the active minor correction (ii).

USD/CHF will, most likely, continue to fall toward the next sell target at the strong support level 0.9700 (which reversed the previous minor corrective wave 2 at the start of July, as can be seen below).



More:
https://new.fxbazooka.com/analytics/9836

[riki143]

USD/JPY reversed from resistance zone
7/29/2016

USD/JPY reversed from resistance zone
Next sell target - 102.00
USD/JPY continues to fall inside the intermediate impulse wave (3) - which started earlier – when the pair reversed down from the resistance zone lying between the resistance level 108.00 (previous buy target), 38.2% Fibonacci correction of the previous downward impulse from January and the resistance trendline of the daily down channel from the start of this year.

The downward reversal from the aforementioned resistance zone created the daily Japanese candlesticks reversal pattern Bearish Engulfing. USD/JPY is expected to continue to fall toward the next sell target at the support level 102.00.



More:
https://new.fxbazooka.com/analytics/9837

[riki143]

Key option levels: August 1
7/31/2016

EUR/USD




Main trend Short-term period Medium-term period
Bullish Bearish
Changes in the open interest + 26 992 ? - 84 630 ?
Closest resistance levels 1.1210; 1.1230; 1.1250; 1.1277
Closest support levels 1.1152; 1.1121; 1.1084; 1.1041
Trading recommendations
Baseline scenario Buy pair above 1.1210, with the target points at 1.1230 and 1.1250
Alternative scenario Moving below 1.1152 can be considered as a signal to sell the pair, with target at 1.1121 and 1.1084




Main trend Short-term period Medium-term period
Bullish Bearish
Changes in the open interest + 994 ? + 1 168 ?
Closest resistance levels 1.3271; 1.3304; 1.3340; 1.3389
Closest support levels 1.3194; 1.3158; 1.3135; 1.3107
Trading recommendations
Baseline scenario Buy pair above 1.3271, with the target points at 1.3304 and 1.3340
Alternative scenario Moving below 1.3194 can be considered as a signal to sell the pair, with target at 1.3158 and 1.3135






Main trend Short-term period Medium-term period
Bearish Bearish
Changes in the open interest + 3 611 ? + 5 812 ?
Closest resistance levels 102.28; 102.47; 102.72; 103.03
Closest support levels 101.80; 101.54; 101.39; 101.17
Trading recommendations
Baseline scenario Sell pair below 101.80, with the target points at 101.54 and 101.39
Alternative scenario Moving above 102.28 can be considered as a signal to buy the pair, with target at 102.47 and 102.72




Main trend Short-term period Medium-term period
Bearish Bullish
Changes in the open interest + 461 ? + 608 ?
Closest resistance levels 1.3057; 1.3079; 1.3122; 1.3182
Closest support levels 1.3017; 1.2992; 1.2948; 1.2887
Trading recommendations
Baseline scenario Sell pair below 1.3017, with the target points at 1.2992 and 1.2948
Alternative scenario Moving above 1.3057 can be considered as a signal to buy the pair, with target at 1.3079 and 1.3122

More:
https://new.fxbazooka.com/analytics/9838

[riki143]

EUR/USD after poor US GDP Q2 figures: Weakness on the greenback for mid-term?
8/1/2016

A poor US GDP report released last Friday helped to add weakness on the greenback, following a 1.2% number, which is well-below the 2.6% expected for Q2. Also, FOMC minutes didn't give major hints in terms of the US economy. Today at 14:00 GMT will be released the ISM Manufacturing PMI, which should see a very slight decline from 53.2 to 53.1. The analysts don't expect very volatile movements after the release.

The technical overview for EUR/USD at H4 chart is showing a very bullish road ongoing, as the pair is doing a consolidation above the 200 SMA. A strong resistance can be seen at the 1.1210 level and if the Manufacturing PMI's reading is weaker than expected, then a rally towards the 1.1295 level can happen, where also a bearish trend line is projected. In the other scenario, a breakout below the 1.1154 support level can open the doors to test the 1.1044 level.



More:
https://new.fxbazooka.com/analytics/9839

[riki143]

EUR/USD: bulls met an obstacle
8/1/2016

On the daily chart EUR/USD is testing the upper border of the 1.1-1.1175 consolidation range. Successful test of resistance will activete the "Bat" pattern. Its 88.6% target lies at 1.1370. It corresponds to the lower border of the long-term rising channel and 61.8% Fibonacci of the last short-term wave. This allows us to point at convergence area of 1.1345-1.1370.



On H1 EUR/USD the bears failed to test the lower border of the triangle. After that the movement to the upside resumed and reached????? 2,24% of the "Crab" pattern target. The pair is currently forming a "spike and ledge" pattern on the basis of 1-2-3 pattern. The break below the lower border of the consolidation range at 1.1156 will result in correction towards 1.1114, while the break above the upper border of the range will make the pair move to the convergence area we found on the daily chart.



More:
https://new.fxbazooka.com/analytics/9840

[riki143]

GBP/USD is forming a ledge
8/1/2016

On the daily chart GBP/USD keeps consolidating in the 1.3075-1.3494 area. The borders of this range correspond to 127.2% and 161.8% targets of the senior AB=CD pattern. The break of resistance at 1.3491-1.3494 activates junior AB=CD pattern. Its 224% target lies at 1.3950.



On H1 the break of the upper border of the descending triangle and its following retest means that the bulls have seized the initiative. If they manage to rise above resistance at 1.3302, the "Spike and ledge" pattern on teh basis of 1-2-3 will allow to expect the pair's growth to 1.3455. Bearish mood will return to the market in case of the break below the lower border of the "ledge" at 1.3071.



More:
https://new.fxbazooka.com/analytics/9841

[riki143]

EUR/USD: wave v of (c) is coming soon
8/1/2016



Wave 4 has been developing since the end of June, so it’s likely that a “Double Three” pattern is taking place. The main target is 4/8 Murrey Math Level (P=200). If a pullback from this resistance happens afterwards, there’ll be an opportunity to see a decline in wave [i].



There’s a possible upward impulse in wave (c) of [y]. Currently, we’ve got a local consolidation in wave iv, which is likely going to end shortly. Therefore, bulls will probably try to reach 8/8 Murrey Math Level during developing of wave v.

More:
https://new.fxbazooka.com/analytics/9842

[riki143]

EUR/USD: overbought euro
8/1/2016

Technical levels: support – 1.1130, 1.1080; resistance – 1.1170, 1.1220.

Trade recommendations:

1. Sell — 1.1170; SL — 1.1190; TP1 — 1.1080.

Reason: bullish Ichimoku Clou; golden cross of Tenkan and Kijun, but there is an overbought market.



More:
https://new.fxbazooka.com/analytics/9843

[riki143]

AUD/USD: across the resistance
8/1/2016

Technical levels: support – 0.7550, 0.7520; resistance – 0.7620.

Trade recommendations:

1. Sell — 0.7620; SL — 0.7640; TP1 — 0.7550; TP2 — 0.7520.

Reason: bearish Ichomoku Cloud, Senkou Span A is growing up; golden cross of Tenkan-sen and Kijun-sen; an overbought market is under resistance.



More:
https://new.fxbazooka.com/analytics/9844

[riki143]

USD/JPY: bears have won
8/1/2016

Technical levels: support – 101.40, 100.80; resistance – 102.50, 102.90.

Trade recommendations:

1. Sell — 102.90; SL — 103.10; TP1 — 102.00; TP2 — 101.40.

Reason: dead cross of Tenkan-sen and Kijun-sen; weak bullish Ichimoku Cloud, but falling Senkou Span A; a market is under the Cloud.



More:
https://new.fxbazooka.com/analytics/9845

[riki143]

EUR/USD: "Pennant" points to a new high
8/1/2016



The price has faced a resistance at 1.1186, so we’ve got a “V-Top” pattern here. Therefore, bulls are likely going to move on towards the next resistance near the main downtrend. However, if a pullback from this resistance happens later on, bears will probably try to catch a support at 1.1221 – 1.1186.



There’s a consolidation in progress, which brought a “Pennant” pattern. In this case, the market is likely going to break the last high, so we should keep an eye on a resistance at 1.1222 – 1.1235. If bulls be stopped here, there’ll be an opportunity to have a local downward correction in the direction of a support at 1.1196 – 1.1166.

More:
https://new.fxbazooka.com/analytics/9846

[riki143]

GBP/USD: consolidation going to move on
8/1/2016



We’ve got a consolidation between the nearest resistance at 1.3289 and support at 1.3116. So, the market is likely going to reach the 89 Moving Average in the short term. If a pullback from this line happens afterwards, the pair will probably try to have a support at 1.3116 once again.



The price is moving up and down. It’s likely that we’re going to see a local decline towards the Moving Average lines. At the same time, bulls will probably try to deliver a new high afterwards.

More:
https://new.fxbazooka.com/analytics/9847

[riki143]

EUR/USD: "Shooting Star" calling bearish correction
8/1/2016



The price has found a lodgement under the 144 Moving Average, but we’ve got a “Hanging Man” and an “Engulfing”. However, a confirmation of both patterns is a quite weak. Therefore, the market is likely going to a local downward correction toward the 144 Moving Average. If a pullback from this line happens, there’ll be an opportunity to have another upward movement. As we can see on the Daily chart, there isn’t any reversal patterns so far, but considering the situation, which is taking place on the four-hour chart, it’s likely to have a local correction and a further bullish steps afterwards.



There’s a local consolidation inside the current upward movement. Also, we’ve got a “Shooting Star” and a “Doji” at the local high. So, if we see a pullback from the nearest support line, bears are likely going to deliver a correction, so we should keep an eye on the closest Moving Averages.

More:
https://new.fxbazooka.com/analytics/9856

[riki143]

USD/JPY: "Window" acted as a support
8/1/2016



There’s a bullish “High Wave” at the local low, but it hasn’t been confirmed yet. So, it’s likely that the price is going to test the nearest resistance level once again. If we see a pullback from this resistance, there’ll be an opportunity to have the next bearish rally. As we can see on the Daily chart, the pair found a lodgement under the last “Window”, so bears will probably try to move on.



We’ve got a support by the closest “Window” and also there’s an “Inverted Hammer” at the last low. This pattern confirmed enough, so it’s likely to see an upward correction in the short term. However, sellers will possibly test the “Window” once again, which can bring more reversal patterns.

More:
https://new.fxbazooka.com/analytics/9857

[riki143]

GBP/JPY reversed from resistance zone
8/1/2016

GBP/JPY falling inside minor impulse wave 5
Next sell target – 130.00
GBP/JPY has been falling in the last few trading sessions inside the minor impulse wave 5 – which started in June – when the pair reversed down from the resistance zone lying between the resistance level 142.00, upper daily Bollinger Band and 38.2% Fibonacci correction of impulse wave 3. The active impulse wave 5 belongs to the intermediate impulse wave (3) from May.

GBP/JPY will, most likely, continue to fall toward the next sell target at the support level 130.00 (which stopped the previous minor impulse wave 3 in July).



More:
https://new.fxbazooka.com/analytics/9859

[riki143]

GBP/CHF falling inside the C-wave
8/1/2016

GBP/CHF falling inside the C-wave
Next sell target - 1.2600
GBP/CHF continues to fall inside the C-wave of the intermediate ABC correction (2), which started earlier this month – when the pair reversed down from the resistance zone lying between the resistance level 1.3200 (which stopped the previous wave 4, as can be seen from the daily GBP/CHF chart below) and the 38.2% Fibonacci correction of the previous sharp downward impulse from the end of June.

GBP/CHF is expected to fall further toward the next sell target at the support level 1.2600 (forecast price calculated for the completion of impulse wave C). Strong resistance now stands at 1.3200.



More:
https://new.fxbazooka.com/analytics/9860

[riki143]

US dollar: outlook for August 1-7
8/1/2016

US dollar posted a weekly decline. The dollar index, which measures the value of the greenback versus a basket of currencies, declined by 2%.

Traders started selling American currency after the Federal Reserve’s meeting. The US central bank made it clear that it’s in no hurry to raise interest rates and despite economic recovery, inflation is still low. Moreover, US GDP for Q1 disappointed: according to the first estimate, American economy gained only 1.2% in Q2 versus 2.6% growth expected. As a result, the expectations of higher Fed’s interest rate in the coming months decreased. Interest rate futures see 30% chance that the US central bank will raise interest rates by the year-end, down from 43% on Thursday. Bond traders went even further predicting that the Fed won’t be able to pull off another interest-rate increase until September 2017.

In will certainly take time and good US data before the greenback will be able to start recovering after the disappointment. The Fed’s officials reminded the market that the regulator will keep looking on the incoming economic figures, so the release of American labor market statistics on Friday will be as important as it always is. Analysts believe that US economy added 180K jobs in July after a 287K gain in June. Other important data releases from the United States include ISM manufacturing PMI on Monday, core PCE price index and personal spending on Tuesday, ADP employment report, as well as ISM services PMI on Wednesday.



More:
https://new.fxbazooka.com/analytics/9861

[riki143]

EUR/USD: outlook for August 1-7
8/1/2016

EUR/USD finished last week around July highs in the 1.1170 area. The wait-and-see position taken by the European Central Bank and the decline in expectations of the Federal Reserve’s rate hike supported the pair.

Although the euro area’s economic growth slowed down from 0.6% in Q1 to 0.3% in Q2, the region moved away from deflation. Eurozone inflation rose to 0.2% in July from 0.1% in June as a result of higher food, alcohol and tobacco prices. Higher inflation reduces the chances that the ECB will ease policy. In addition, the results of the European bank’s stress tests were better than feared.

European economic calendar this week will be rather light. Final PMIs will be released on Wednesday and German factory orders will come out on Friday. US nonfarm payrolls should make trading on Friday volatile.

EUR/USD is currently trading at the top of the recent month’s range. On the daily chart the pair met resistance in form of the daily Ichimoku Cloud around 1.1180. Further resistance is at 1.1260 (top of the daily Cloud, 50% Fibonacci of May-June decline) – this level will be hard to break for the bulls. There’s also 2016 resistance line in the 1.1290 area. Support lies at 1.1105, 1.1075 and 1.1015.



More;
https://new.fxbazooka.com/analytics/9862

[riki143]

GBP/USD: outlook for August 1-7
8/1/2016

Last week British pound managed to hold its ground versus the US dollar. The Bank of England’s policymaker Martin Weale, who used to think that the BOE should raise rates sooner than later, said he sees the economic outlook differently after PMIs showed that UK economy contracted in July at its fastest rate since the beginning of 2009. However, GDP growth for Q2 was rather good despite the Brexit referendum in June: British economy rose by 0.6% beating the 0.4% growth forecast.

The Bank of England will meet on Thursday. The regulator is expected to cut interest rates from 0.50% to 0.25%, though most experts think that the central bank won’t revive its massive bond-buying program for now. The market is ready for such outcome: according to overnight swaps rate, a rate 30 basis points is already priced in. It means that the Bank of England will have to deliver much more easing for the British pound to fall, especially as the US dollar is not feeling particularly well. Apart from the Bank of England’s meeting pay attention to British PMIs on Monday, Tuesday and Wednesday.

So far, GBP/USD managed to remain above the key 1.3050/00 support, and has potential for some recovery. Resistance is at 1.3300, 1.3500 and 1.3640 (38.2% Fibonacci) of the post-Brexit decline. Support is at 1.3085, 1.3000 and 1.2950.

[IMG]GBP/USD: outlook for August 1-7

Last week British pound managed to hold its ground versus the US dollar. The Bank of England’s policymaker Martin Weale, who used to think that the BOE should raise rates sooner than later, said he sees the economic outlook differently after PMIs showed that UK economy contracted in July at its fastest rate since the beginning of 2009. However, GDP growth for Q2 was rather good despite the Brexit referendum in June: British economy rose by 0.6% beating the 0.4% growth forecast.

The Bank of England will meet on Thursday. The regulator is expected to cut interest rates from 0.50% to 0.25%, though most experts think that the central bank won’t revive its massive bond-buying program for now. The market is ready for such outcome: according to overnight swaps rate, a rate 30 basis points is already priced in. It means that the Bank of England will have to deliver much more easing for the British pound to fall, especially as the US dollar is not feeling particularly well. Apart from the Bank of England’s meeting pay attention to British PMIs on Monday, Tuesday and Wednesday.

So far, GBP/USD managed to remain above the key 1.3050/00 support, and has potential for some recovery. Resistance is at 1.3300, 1.3500 and 1.3640 (38.2% Fibonacci) of the post-Brexit decline. Support is at 1.3085, 1.3000 and 1.2950.

[IMG]GBP/USD: outlook for August 1-7

Last week British pound managed to hold its ground versus the US dollar. The Bank of England’s policymaker Martin Weale, who used to think that the BOE should raise rates sooner than later, said he sees the economic outlook differently after PMIs showed that UK economy contracted in July at its fastest rate since the beginning of 2009. However, GDP growth for Q2 was rather good despite the Brexit referendum in June: British economy rose by 0.6% beating the 0.4% growth forecast.

The Bank of England will meet on Thursday. The regulator is expected to cut interest rates from 0.50% to 0.25%, though most experts think that the central bank won’t revive its massive bond-buying program for now. The market is ready for such outcome: according to overnight swaps rate, a rate 30 basis points is already priced in. It means that the Bank of England will have to deliver much more easing for the British pound to fall, especially as the US dollar is not feeling particularly well. Apart from the Bank of England’s meeting pay attention to British PMIs on Monday, Tuesday and Wednesday.

So far, GBP/USD managed to remain above the key 1.3050/00 support, and has potential for some recovery. Resistance is at 1.3300, 1.3500 and 1.3640 (38.2% Fibonacci) of the post-Brexit decline. Support is at 1.3085, 1.3000 and 1.2950.

[IMG]GBP/USD: outlook for August 1-7

Last week British pound managed to hold its ground versus the US dollar. The Bank of England’s policymaker Martin Weale, who used to think that the BOE should raise rates sooner than later, said he sees the economic outlook differently after PMIs showed that UK economy contracted in July at its fastest rate since the beginning of 2009. However, GDP growth for Q2 was rather good despite the Brexit referendum in June: British economy rose by 0.6% beating the 0.4% growth forecast.

The Bank of England will meet on Thursday. The regulator is expected to cut interest rates from 0.50% to 0.25%, though most experts think that the central bank won’t revive its massive bond-buying program for now. The market is ready for such outcome: according to overnight swaps rate, a rate 30 basis points is already priced in. It means that the Bank of England will have to deliver much more easing for the British pound to fall, especially as the US dollar is not feeling particularly well. Apart from the Bank of England’s meeting pay attention to British PMIs on Monday, Tuesday and Wednesday.

So far, GBP/USD managed to remain above the key 1.3050/00 support, and has potential for some recovery. Resistance is at 1.3300, 1.3500 and 1.3640 (38.2% Fibonacci) of the post-Brexit decline. Support is at 1.3085, 1.3000 and 1.2950.

GBP/USD: outlook for August 1-7

Last week British pound managed to hold its ground versus the US dollar. The Bank of England’s policymaker Martin Weale, who used to think that the BOE should raise rates sooner than later, said he sees the economic outlook differently after PMIs showed that UK economy contracted in July at its fastest rate since the beginning of 2009. However, GDP growth for Q2 was rather good despite the Brexit referendum in June: British economy rose by 0.6% beating the 0.4% growth forecast.

The Bank of England will meet on Thursday. The regulator is expected to cut interest rates from 0.50% to 0.25%, though most experts think that the central bank won’t revive its massive bond-buying program for now. The market is ready for such outcome: according to overnight swaps rate, a rate 30 basis points is already priced in. It means that the Bank of England will have to deliver much more easing for the British pound to fall, especially as the US dollar is not feeling particularly well. Apart from the Bank of England’s meeting pay attention to British PMIs on Monday, Tuesday and Wednesday.

So far, GBP/USD managed to remain above the key 1.3050/00 support, and has potential for some recovery. Resistance is at 1.3300, 1.3500 and 1.3640 (38.2% Fibonacci) of the post-Brexit decline. Support is at 1.3085, 1.3000 and 1.2950.



More:
pURL=https://new.fxbazooka.com/analytics/9863]https://new.fxbazooka.com/analytics/9863[/URL]

[riki143]

USDJPY: outlook for August 1-7
8/1/2016

The Bank of Japan eased monetary policy On Friday. Still, the market got disappointed, because the regulator didn’t increase purchases of Japanese government bonds or take negative interest rates even lower. What the central bank did was double purchases of exchange-traded funds (ETF) from 3 to 6 trillion yen, but many thought that the BOJ is running out the policy tools. Governor Kuroda did leave room for possible action in future as he announced that the regulator will do a comprehensive assessment of monetary stimulus effects at the next meeting. However, during the press conference Kuroda didn’t confirm that such an assessment would lead to major shifts in policy.

With such position taken by the Bank of Japan, Japanese yen is going to remain strong. USD/JPY reversed down from the 200-week MA and the downtrend resistance line in the 106.70/107.50 area. The pair is vulnerable for decline to 100.70/100.40 support. Further support is at 98.80. Resistance is at 103.60, 104.05 and 105.20.

Japanese economic calendar contains only data releases of low importance, such as final manufacturing PMI, consumer confidence and average cash earnings. Pay attention to China’s PMI on Wednesday as it may have an impact on the market’s risk sentiment and, consequently, demand for the yen. The US nonfarm payrolls will make trading volatile on Friday.



More:
https://new.fxbazooka.com/analytics/9864

[riki143]

AUD/USD: outlook for August 1-7
8/1/2016

AUD/USD managed to recover the previous week’s losses. Aussie was driven higher mainly by the general weakness of the US dollar. The most important upcoming event for Australian dollar is the meeting of the Reserve bank of Australia on Tuesday. Australian consumer prices rose by 0.4% in Q2 after declining by 0.2% in the first 3 months of the year. Higher inflation makes rate cut less likely. Still, the figures didn’t completely alter the expectations of RBA’s rate cut. The futures market still sees a 68% chance that the RBA cuts rate from 1.75% to 1.50%. As Australian central bank is not interested in high value of its national currency, it may after all cut the cash rate.

Resistance is at 0.7600 (psychological level) and 0.7670 (100-week MA). Support is at 0.7550, 0.7500 and 0.7430.

Lower commodity prices act as limitation for AUD bulls: oil remains under pressure and copper reversed down. Official China’s manufacturing PMI showed the nation’s factory activity fell in July. Pay attention to China’s services PMI on Wednesday. Australia will also release building approvals and trade balance on Tuesday, retail sales on Thursday and the RB monetary policy statement on Friday.




More:
https://new.fxbazooka.com/analytics/9865

[riki143]

GBP/USD & UK Construction PMI: Downside road before BoE's meeting?
8/2/2016

This week will be crucial for the Sterling, as the BoE will decide about interest rates and where the markets are expecting a possible rate cut on Thursday. However, before that key event, today at 08:30 GMT will be released the UK Construction PMI and analysts are expecting a decline to 44.2 from 46.0 in this month's reading. With that scenario, GBP could be hurt and we can see Cable re-testing July's lows.

Our technical view for GBP/USD at H4 chart is still sideways ahead of that macro data mentioned above. A triangle pattern can be seen below the 200 SMA, but still, we can see that the pair is trapped inside the post-Brexit range. If the Construction PMI is weaker than expected, a breakout below the support level can happen, towards the 1.2885 level on a first degree. The other scenario can be calling to a consolidation above last week's highs, in order to rally towards the 1.3428 level.



More:
https://new.fxbazooka.com/analytics/9866

[riki143]

Key option levels: August 2
8/2/2016

EUR/USD




Main trend Short-term period Medium-term period
Neutral Bearish
Changes in the open interest + 169 776 ↑ + 125 927 ↑
Closest resistance levels 1.1196; 1.1215; 1.1236; 1.1268
Closest support levels 1.1155; 1.1126; 1.1089; 1.1045
Trading recommendations
Baseline scenario Buy pair above 1.1196, with the target points at 1.1215 and 1.1236
Alternative scenario Moving below 1.1155 can be considered as a signal to sell the pair, with target at 1.1126 and 1.1089




Main trend Short-term period Medium-term period
Bearish Bearish
Changes in the open interest + 1 253 ↑ + 2 100 ↑
Closest resistance levels 1.3225; 1.3247; 1.3263; 1.3282
Closest support levels 1.3167(54?); 1.3138; 1.3118; 1.3095
Trading recommendations
Baseline scenario Short GBP/USD below 1.3167, with target points at 1.3138 and 1.3118
Alternative scenario Moving above 1.3225 can be considered as a signal to buy the pair, with target at 1.3247 and 1.3263

More:
https://new.fxbazooka.com/analytics/9867

[riki143]

EUR/USD: "Horizontal Triangle" points to coming wave v of (c)
8/2/2016



Wave 4 is likely going to end soon as a possible “Double Three” could finish its rally near 4/8 Murrey Math Level (P=200). So, if a pullback from this levels happens, there’ll be an open door for wave [i]. The nearest bearish target is 2/8 Murrey Math Level.



We’ve got a “Horizontal Triangle” in wave iv, which points to a possible upward movement in wave v of (c). Therefore, the price is likely going to achieve 8/8 Murrey Math Level, which could act as a resistance. At the same time, bears will probably try to set up wave [i] afterwards.

More:
https://new.fxbazooka.com/analytics/9868

[riki143]

EUR/USD: euro is still overbought
8/2/2016

Technical levels: support – 1.1160, 1.1130; resistance – 1.1170, 1.1220.

Trade recommendations:

1. Sell — 1.1220; SL — 1.1240; TP1 — 1.1080; TP2 – 1.1050.

Reason: bullish Ichimoku Cloud; golden cross of Tenkan and Kijun, but there is still an overbought market.




More:[URL=https://new.fxbazooka.com/analytics/9871[/URL]

[riki143]

AUD/USD is feeling giddy
8/2/2016

On the daily AUD/USD the attempt of the bulls to restore the uptrend has failed. The pair formed a combination of "3 Indians" model and 1-2-3. This formation points at the high possibility of a reversal. The break of support at 0.7470 (38.2% Fibonacci of the last bullish wave and the lower border of the uptrend channel) may be a signal for opening short positions.



On H1 successful test of the upper border of the uptrend channel and the further decline of the quotes below the local low at 0.7480 will activate the "Shark" pattern. Its 88,6% target is near 0.7435.



Recommendation: SELL 0.747 SL 0.757 TP1 0.734 TP2 0.725.

More:
https://new.fxbazooka.com/analytics/9869

[riki143]

Gold: will the bulls find strength to attack?
8/2/2016

On the daily XAU/USD chart there's sustainable uptrend. The trend counl continue in case of successful test of resistance at $1370 an ounce. Here's the target of the 161.8% AB=CD pattern. The area of $1305-1314 acts as support. The break of it will activate the "3 Indians" and 1-2-3 and will lead to correction to $1260-1280 an ounce.



On H1 the bulls have already twice managed to break above the consolidation patterns within the "Spike and ledge" pattern. Remember about the risks of a model (Fakeout-Shakout). Unsuccessful break of resistance and the following return to the lower border will be a signal for short positions.



More:
https://new.fxbazooka.com/analytics/9870

[riki143]

GBP/USD: pound holds above the cloud
8/2/2016

Technical levels: support – 1.3180; resistance – 1.3270, 1.3290.

Trade recommendations:

1. Buy — 1.3180/90; SL — 1.3160; TP1 — 1.3270; TP2 — 1.3290.

Reason: a bullish Cloud with growing range; golden cross of Tenkan-sen and Kijun-sen.



More
https://new.fxbazooka.com/analytics/9872

[riki143]

[B]USD/JPY: correction to Tenkan[/]
8/2/2016

Technical levels: support – 102.10, 101.40, 100.80; resistance – 102.50, 102.90.

Trade recommendations:

1. Sell — 102.80; SL — 103.00; TP1 — 102.00; TP2 — 101.40.

Reason: dead cross of Tenkan-sen and Kijun-sen; bearish Ichimoku Cloud, falling Senkou Span A and B.



More:
https://new.fxbazooka.com/analytics/9873

[riki143]

EUR/USD: "Pennant" increasing bullish pressure
8/2/2016



There’s a consolidation, which is taking place on the four-hour chart. Also, we’ve got a “Flag” pattern, so the price is likely going to reach a resistance near the current downtrend. At the same time, if a pullback from the trend happens afterwards, then there’ll be an opportunity to see a bearish movement in the direction of a support at 1.1186 – 1.1166.



We’ve got a consolidation in a range of the current “Pennant” pattern. So, bulls are likely going to achieve a resistance at 1.1222 – 1.1235. However, if we see a pullback from this area, bears will probably try to catch a support at 1.1166.

More:
https://new.fxbazooka.com/analytics/9876

[riki143]

GBP/USD: the market get bogged down in a flat morass
8/2/2016



There’s a flat between the nearest resistance at 1.3289 and support at 1.3116. So, the price is likely going to reach the 89 Moving Average in the short term. However, if a pullback from this line arrives, then another downward movement will be on the table.



The price is moving along the Moving Average lines. Also, we’ve got a “Pennant” pattern, so the market is likely going to reach a support at 1.3148 – 1.3116 during the day. Nevertheless, bulls are still in the game, which means an achievement of the next resistance at 1.3313 – 1.3336 is a still possible.

More:
https://new.fxbazooka.com/analytics/9877

[riki143]

EUR/USD: "Window" has been waiting for bulls
8/2/2016



There’s a bullish rally, which is taking place on the four-hour chart, so we haven’t got any reversal pattern. In this case, the market is likely going to reach the nearest “Window”, where some bearish pattern could be formed. As we can see on the Daily chart, here’s a strong support by the 55 & 89 Moving Average lines. The last candles are bullish, so an achievement of the 144 Moving Average is a still on the table.

The last consolidation was finally ended by the huge white candle. Also, there’s an “Engulfing” at the local low. Therefore, the pair is likely going to reach the nearest resistance. If a pullback from this level happens later on, there’ll be a chance to see a bearish correction towards the 21 Moving Average.

More:
https://new.fxbazooka.com/analytics/9886

[riki143]

USD/JPY: "Gravestone Doji" as a sign of bulls weakness
8/2/2016



The market has been falling down since a “Shooting Star” formed at the last high. Moreover, we’ve got the second “Shooting Star” at the local maximum, but it hasn’t been confirmed yet. As we can see on the Daily chart, here isn’t any reversal pattern so far, which makes possible further bearish steps.



We’ve got a “Gravestone Doji”, so the price found a lodgement under the nearest “Window”. Therefore, bears are likely going to move on until any bullish pattern forms.

More:
https://new.fxbazooka.com/analytics/9888

[riki143]

USD/JPY reached sell target 102.00
8/2/2016

USD/JPY reached sell target 102.00
Next sell target – 100.00
USD/JPY continues to decline – following the earlier breakout of the support level 102.00, which was set in our earlier forecast as the likely downward target for this currency pair. The breakout of this support level is likely to accelerate the active indeterminate impulse wave (3), which is a part of the primary downward impulse ? from the end of May.

USD/JPY is likely to continue to fall in the direction of the next sell target at the major round support level 100.00 (which reversed the previous wave B and (1)). Expect the pair to correct up after reaching the shttp://www.moneymakergroup.com/Forex-News-Trade-Recomme-t468159.html&view=findpost&p=1109720162#entry1109720162upport level 100.00.



More:
https://new.fxbazooka.com/analytics/9890

[riki143]

NZD/USD continues strong uptrend
8/2/2016

NZD/USD continues strong uptrend
Next buy target - 0.7300
NZD/USD continues to rise inside the minor impulse wave 3 – which stared earlier – when the pair revered up from the support zone lying between the round support level 0.7000, 0.6980 (previous sell target), lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward price impulse 1 from the end of May.

The active minor impulse wave 3 belongs to the sharp intermediate impulse wave (C) from the end of May. NZD/USD is expected to rise further in the active impulse waves 3 and (C) toward the next buy target at the strong resistance level 0.7300 (which stopped earlier impulse wave 1 in July).



More:
https://new.fxbazooka.com/analytics/9891

[riki143]

US Dollar & ADP Employment Change: A support for the greenback is coming?
8/3/2016

The greenback is still showing weakness across the board, as the recent US data had shown very negative numbers for the national economy's improvement on a quarterly basis and today at 12:30 GMT will be released the ADP employment change data, where the analysts are expecting a slight decline from 172K to 171K on the July's reading. It should be noted that the latest five releases were mixed, so we'll see how the numbers will be ahead of Friday's US NFP.

Our technical view for US Dollar Index at H4 chart is still bearish, as the index has been doing a consolidation below the 200 SMA. However, we're seeing that it's near to the 61.8% retracement level of the move from 93.01 to 97.59. A rebound above it can drive the DXY towards the 95.97 level as the next critical resistance. However, with a weaker-than-expected ADP reading, we could see a breakout below the 94.97 level, towards the 94.34 as the next south's target.



More:
https://new.fxbazooka.com/analytics/9892

[riki143]

EUR/USD keeps pushing higher
8/3/2016

On the daily chart one may see that the bulls managed to break resistance of 1.1175 and keep moving towards the 88.6% target of the "Bat" pattern (1.1370). Here's also the upper border of the rising trend channel. The level of 1.1175 is acting as support (previous resistance and 38.2%Fibo of the last descending wave).



On H1 EUR/USD is forming "3 Indians" pattern . It may realize if the pair falls below the minimum of the second bar of the Indian (1.1170). Here's the middle of the previous short-term consolidation range that allows us to speak about potential "Fakeout-Shakout" pattern.



More:
https://new.fxbazooka.com/analytics/9893

[riki143]

USD/JPY is one step away from 100.00
8/3/2016

On the daily chart USD/JPY keeps moving towards the lower border of the bearish trend channel. It corresponds to 127.2% of the "Shark" pattern target (98.00). Target of AB=CD at 224% mentioned in the previous article is reached. Look for resistance near 102.69.



On H1 USD/JPY the angle of the downtrend points at the strength of the "bears". The pair entered convergence area of 100.21-100.84. The break below these levels will open the way down towards 98. The nearest resistance levels lie at 101.82 and 102.68.


More:
https://new.fxbazooka.com/analytics/9894

[riki143]

EUR/USD: "Flag" calling bulls to deliver new high
8/3/2016



As we can see on the four-hour chart, a bullish movement is taking place. The price found a resistance at 1.1235, which led to the current local consolidation. So, buyers are likely going to move on, which makes possible an achievement of the nearest trend line. If we see a pullback from the trend, a downward correction becomes possible.



There’s a consolidation between the nearest resistance at 1.1235 and support at 1.1196. Also, we’ve got a “Flag”, so the pair is likely going to move up towards the closest resistance. However, bears will probably try to deliver a correction afterwards.

More:
https://new.fxbazooka.com/analytics/9897