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Re: Market news and trade recommendations by FBS
AUD/USD: outlook for August 8-14
8/5/2016 Although economic news from Australia weren’t very exciting, Australian dollar manage to hold ground against its US counterpart. Australian economic figures disappointed: building approvals kept contracting, trade deficit widened, while retail sales growth was weaker than expected. The Reserve Bank of Australia cut the cash rate from 1.75% to 1.5%. However, this decision was already priced in by the market, and AUD/USD rebounded from 100-day MA and the top of the daily Ichimoku Cloud in the 0.7485 area and made an attempt to overcome 2016 resistance line. However, strong US nonfarm payrolls brought AUD/USD lower. A weekly close below 0.7635 will open the way for decline to 0.7580 and 0.7550. Further support is at 0.7490. As for the economic calendar, NAB business confidence will be released on Tuesday. On Wednesday we’ll hear from the RBA Governor Stevens. Australian central bank doesn’t like stronger national currency, so if the RBA voices its concerns Aussie bears will finally take the situation in their hands. Also watch China’s economic statistics as it will affect the market’s risk sentiment and, consequently, AUD/USD. [IMG] https://new.fxbazooka.com/img/articles/9946/AUDUSDDaily(9).png[/IMG] More: https://new.fxbazooka.com/analytics/9946 |
Re: Market news and trade recommendations by FBS
USD/CAD & Building Permits: On it's way to reach the 1.3350 level?
8/8/2016 Today at 12:30 GMT will be released the building permits in Canada and analysts are expecting a rise from -1.9% to 2.7%, but that indicator should have a medium-impact on the CAD pairs. Latest releases had been showing declines and giving hints that constructions in Canada hadn't performed well. However, with a positive number we should see that Canadian dollar attempts a rally against other currencies during this week. The technical picture for USD/CAD at H4 chart is still very bullish following the US NFP's positive numbers. The greenback's strength should push higher the pair towards the 1.3387 level, where a pullback should happen. This bullish scenario remains alive, as the Loonie has been following a bullish trend line since June 22 session. However, if numbers in Canada today are positive, then a pullback to the 1.3100 psychological level is possible. https://new.fxbazooka.com/img/articl...SDCADH4(5).png More: https://new.fxbazooka.com/analytics/9947 |
Re: Market news and trade recommendations by FBS
EUR/USD won't give up without a fight
8/8/2016 On the daily EUR/USD chart bears failed to settle below support at 1.1072 (23.8% Fibo of the last descending wave). If the pair recoils from the upper border of the trend channel and returns to 1.1175, it will be a signal that the bulls have seized the initiative. On the other hand, sustainable break above 1.1072 will increase the risk that the long-term downtrend resumes. https://new.fxbazooka.com/img/articl...8_07_51_45.png On H1 EUR/USD failed to break the lower border of the downtrend at the level of 88.6% "Shark" pattern's target (convergence area). In order for the bears to show their power, the pair should successfully test 1.1082 and 1.1051. The nearest resistance levels are at 1.1114 and 1.1170. https://new.fxbazooka.com/img/articl...8_07_52_05.png More: https://new.fxbazooka.com/analytics/9948 |
Re: Market news and trade recommendations by FBS
AUD/USD: will bears find strength to attack?
8/8/2016 On the daily AUD/USD chart the pair is moving within uptrend channel. The market's sentiment will remain bullish as long as the pair's trading above support at 0.7570 (61.8% Fibo of the last descending wave). https://new.fxbazooka.com/img/articl...8_07_52_23.png On H1 AUD/USD is trading near 78.6% Fibo of the last descending wave. If the bears manage to hold the quotes below resistance in the 0.7622-0.7627 area, then further decline to the 0.757-0.7579 convergence area (lower border of an uptrend+61,8% Fibo of the last bearish wave + daily support) will activate the "Shark" pattern. Its 88.6% is near 0.75. https://new.fxbazooka.com/img/articl...8_07_52_44.png More: https://new.fxbazooka.com/analytics/9949 |
Re: Market news and trade recommendations by FBS
Key option levels for Monday, August 8th
8/8/2016 EUR/USD https://new.fxbazooka.com/img/articl.../EURUSD(9).png Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest - 75 397 ? + 112 764 ? Closest resistance levels 1.1152(65?); 1.1182; 1.1203; 1.1229 Closest support levels 1.1078; 1.1050; 1.1031; 1.1006 Trading recommendations Baseline scenario Sell EUR/USD below 1.1078, with target points at 1.1050 and 1.1031 Alternative scenario Moving above 1.1152 can be considered as a signal to buy the pair, with target at 1.1182 and 1.1203 GBP/USD https://new.fxbazooka.com/img/articl.../GBPUSD(7).png Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest - 27 569 ? - 26 075 ? Closest resistance levels 1.3200; 1.3242; 1.3268; 1.3297 Closest support levels 1.3066/51; 1.3011; 1.2972; 1.2948 Trading recommendations Baseline scenario Short GBP/USD below 1.3066, with target points at 1.3011 and 1.2972 Alternative scenario Moving above 1.3200 can be considered as a signal to buy the pair, with target at 1.3242 and 1.3268 USD/JPY https://new.fxbazooka.com/img/articl.../USDJPY(8).png Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest - 39 581 ? - 31 878 ? Closest resistance levels 102.27; 102.60; 102.82; 103.07 Closest support levels 101.33; 100.97; 100.79; 100.56 Trading recommendations Baseline scenario Long USD/JPY above 102.27, with the target points at 102.60 and 102.82 Alternative scenario Moving below 101.33 can be considered as a signal to sell the pair, with target at 100.97 and 100.79 USD/CAD https://new.fxbazooka.com/img/articl.../USDCAD(8).png Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest - 15 157 ? - 8 464 ? Closest resistance levels 1.3201; 1.3224; 1.3256; 1.3296 Closest support levels 1.3089; 1.3060; 1.3023; 1.2977 Trading recommendations Baseline scenario Buy USD/CAD above 1.3201, with the target points at 1.3224 and 1.3256 Alternative scenario Moving below 1.3089 can be considered as a signal to sell the pair, with target at 1.3060 and 1.3023 EUR JPY GBP CAD More: https://new.fxbazooka.com/analytics/9952 |
Re: Market news and trade recommendations by FBS
EUR/USD: euro supported by cloud, but its under negative pressure
8/8/2016 Technical levels: support – 1.1090, 1.1070; resistance – 1.1140, 1.1170. Trade recommendations: 1. Sell — 1.1140; SL — 1.1160; TP1 — 1.1070; TP2 – 1.1000. Reason: bullish Ichimoku Cloud, falling down Senkou Span A; dead cross of Tenkan-sen and Kijun-sen. https://new.fxbazooka.com/img/articl...rusdh4(19).png More: https://new.fxbazooka.com/analytics/9953 |
Re: Market news and trade recommendations by FBS
GBP/USD: pound has lost its positions
8/8/2016 Technical levels: support – 1.3060, 1.2930; resistance – 1.3100, 1.3135. Trade recommendations: 1. Sell — 1.3100; SL — 1.3120; TP1 — 1.2930; TP2 — 1.2900. Reason: a bullish Cloud, but falling down Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; there is a trades under Ichimoku Cloud. https://new.fxbazooka.com/img/articl...bpusdh4(9).png More: https://new.fxbazooka.com/analytics/9954 |
Re: Market news and trade recommendations by FBS
USD/JPY: correction to the Cloud
8/8/2016 Technical levels: support – 101.75, 101.20; resistance – 102.30/40. Trade recommendations: 1. Sell — 102.30; SL — 102.50; TP1 — 101.75; TP2 — 101.20. Reason: incorrect golden cross formed by Tenkan-sen and Kijun-sen; bearish Ichimoku Cloud; strong resistance formed buy Senkou Span A. https://new.fxbazooka.com/img/articl...sdjpyh4(5).png More: https://new.fxbazooka.com/analytics/9955 |
Re: Market news and trade recommendations by FBS
EUR/USD: "V-Bottom" let bulls to move the market higher
8/8/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png The price couldn’t break the nearest support area, so we’ve got a “V-Top” pattern, which led to a local upward movement towards the Moving Average lines. So, the market is likely going to get a resistance at 1.1120 -1.1148 in the short term. However, if we see a pullback from this area, there’ll be an opportunity to another decline in the direction of a support at 1.1045 – 1.1023. https://new.fxbazooka.com/img/articl...016-EUR-H1.png More: https://new.fxbazooka.com/analytics/9965 |
Re: Market news and trade recommendations by FBS
GBP/USD: bulls going to reach Moving Averages
8/8/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png We’ve got a “V-Bottom” pattern, which brought a consolidation into the market. Considering a support at 1.3017, bulls are likely going to reach a resistance at 1.3148 – 1.3174 in the short term. If a pullback from this area happens, bears will probably try to achieve the next support at 1.3017 – 1.2970. More: https://new.fxbazooka.com/analytics/9966 |
Re: Market news and trade recommendations by FBS
EUR/USD: extension in wave [iii] is coming soon
8/8/2016 https://new.fxbazooka.com/img/articl...8112035001.png Wave 4 has been ended in a form of a “Double Three”. Also, we’ve got a resistance by the 4/8 Murrey Math Level (P=200), which led to form a downward impulse in wave [i]. Under this circumstances, wave [iii] is likely going to form an extension. The main intraday bearish target is -1/8 Murrey Math Level. https://new.fxbazooka.com/img/articl...8112035002.png There’s a possible ended wave (ii) below 4/8 Murrey Math Level. Previously, wave (i) was stopped by 2/8 Murrey Math Level. So, the market is likely going to break the last low during wave’s (iii) rally. If we see a pullback from 0/8 Murrey Math Level afterwards, there’ll be an opportunity to see a local upward correction. More: https://new.fxbazooka.com/analytics/9967 |
Re: Market news and trade recommendations by FBS
EUR/USD: bears faced support by "Window"
8/8/2016 https://new.fxbazooka.com/img/articl...08eurusdh4.png There’s a bullish “Hammer” at the local low, but its confirmation has been canceled by the last bearish “Harami”. Therefore, the price is likely going to test the 89 Moving Average once again. As we can see on the Daily chart, here’s a possible “Three Black Crows” pattern, so right after a local upward correction, bears will probably try to deliver a new low. https://new.fxbazooka.com/img/articl...08eurusdh1.png We’ve got a strong support by the lower “Window”. Also, there’re a “Harami” and a “Three White Soldiers”, so the market is likely going to test the middle of the last huge black candle once again. More: https://new.fxbazooka.com/analytics/9968 |
Re: Market news and trade recommendations by FBS
GBP/AUD falling inside minor impulse wave 5
8/8/2016 GBP/AUD falling inside minor impulse wave 5 Next sell targets - 1.7000 and 1.6750 GBP/AUD continues to fall inside the minor impulse wave 5 – which started previously – when the pair reversed down from the resistance zone lying at the intersection of the lower trendline of the recently broken wide weekly down channel from 2015 and the resistance level 1.7750. The active minor impulse wave belongs to the sharp intermediate impulse wave (C) from the end of May. GBP/AUD is expected to fall further to the next sell target at the round support level 1.7000 – the breakout of which can lead to further losses toward 1.6750. https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/9969 |
Re: Market news and trade recommendations by FBS
AUD/CAD reached buy target 1.0000
8/8/2016 AUD/CAD reached buy target 1.0000 Next buy target - 1.0090 AUD/CAD recently broke sharply above the round resistance level 1.0000 (which was set in our earlier forecast as the likely target for the upward movement of this currency pair). The breakout of this resistance level accelerated the active minor impulse wave (iii), which started earlier – when the pair reversed up from the upper trendline of the recently broken daily down channel from December (acting as support now after it was broken). AUD/CAD is expected to rise further in the active impulse waves (iii), 3 and (3) toward the next buy target at the resistance level 1.0090 (top of the previous minor correction 2 from January). https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/9970 |
Re: Market news and trade recommendations by FBS
USD/JPY: buyers broke the "Window"
8/8/2016 https://new.fxbazooka.com/img/articl...08usdjpyH4.png We’ve got a “Harami” and an “Engulfing” at the local low. Also, there’s a new “Window”, but we haven’t got any reversal pattern, which makes possible an achievement of the 34 Moving Average in the short term. As we can see on the Daily chart, the last “Harami” has been confirmed, bulls will probably try to deliver an upward correction. https://new.fxbazooka.com/img/articl...08usdjpyH1.png The price has been rising since a “Doji” arrived at the local low. Moreover, bulls have broken the “Window”, so there’s an open door for testing of the 144 Moving Average. More: https://new.fxbazooka.com/analytics/9971 |
Re: Market news and trade recommendations by FBS
GBP/USD & UK Manufacturing Production: A lower continuation across the board?
8/9/2016 Today at 08:30 GMT will be released the UK manufacturing production, where the markets are expecting a rise from -0.5% to 0.0% in the June's reading. During the last months, results for this indicator have been showing a mixed pattern, with the recent two data posting numbers above the expectations, while for April and May, the data was negative. Remind that the BoE recently launched its new easing program and Sterling could be weighted in coming weeks due to the UK economic's slowdown. Our technical picture for GBP/USD at H4 chart, there is a triangle pattern still in the place and the overall trend is bearish. A below-than-expected reading could send the pair to lower levels and possibly, it can break the bullish trend line from that triangle. The mid-term target to the downside is placed around the 1.2869 level, while to the upside, the zone of 1.3143 is the next objective for bulls. [IGM]https://new.fxbazooka.com/img/articles/9972/GBPUSDH4(5).png[/IGM] More: https://new.fxbazooka.com/analytics/9972 |
Re: Market news and trade recommendations by FBS
GBP/USD & UK Manufacturing Production: A lower continuation across the board?
8/9/2016 Today at 08:30 GMT will be released the UK manufacturing production, where the markets are expecting a rise from -0.5% to 0.0% in the June's reading. During the last months, results for this indicator have been showing a mixed pattern, with the recent two data posting numbers above the expectations, while for April and May, the data was negative. Remind that the BoE recently launched its new easing program and Sterling could be weighted in coming weeks due to the UK economic's slowdown. Our technical picture for GBP/USD at H4 chart, there is a triangle pattern still in the place and the overall trend is bearish. A below-than-expected reading could send the pair to lower levels and possibly, it can break the bullish trend line from that triangle. The mid-term target to the downside is placed around the 1.2869 level, while to the upside, the zone of 1.3143 is the next objective for bulls. https://new.fxbazooka.com/img/articl...BPUSDH4(5).png More: https://new.fxbazooka.com/analytics/9972 |
Re: Market news and trade recommendations by FBS
EUR/USD: bears are preparing an attack
8/9/2016 On the daily chart EUR/USD formed a descending trend channel. As long as the pair stays below 1.1235-1.1259, the market's sentiment will remains bearish. Traders should sell either on growth or on breaks of support. The nearest support is at 1.1072. Look for resistance near 1.1175. https://new.fxbazooka.com/img/articl...9_07_23_46.png On H1 EUR/USD is consolidating within the 1.1072-1.1105 range. The break below its lower border will lead to a decline to 1.1051 and 1.0967. Successful test of resistance will activate 5-0 pattern. The pair's increase to 1.1141 (50% Fibo of the last descending wave) and to 1.1163-1.117 should be used to form short positions. https://new.fxbazooka.com/img/articl...9_07_18_35.png More: https://new.fxbazooka.com/analytics/9973 |
Re: Market news and trade recommendations by FBS
USD/JPY: correction won't affect yen
8/9/2016 On the daily USD/JPY chart there's correction to the downtrend. The pair reached resistance at 102.69. A break of this level will open the way up to 103.93 and 104.38, recoil down from the resistance will lead to consolidation in the 100.69-102.69 area. https://new.fxbazooka.com/img/articl...9_07_33_37.png On H1 USD/JPY reached 224% target of AB=CD pattern. Successful test of the upper border of the 100.83-101.82 range started a correction. The sentiment remains bearish, so sell on the increases to 103.27 (38.2% Fibonacci of the last descending wave), 103.93-104.08 (50%) and 104.89 (61.8%). Increase above 106 will make the risks of change in trend higher. https://new.fxbazooka.com/img/articl...9_07_33_54.png More: https://new.fxbazooka.com/analytics/9974 |
Re: Market news and trade recommendations by FBS
EUR/USD: euro continues its consolidation under the cloud
8/9/2016 Technical levels: support – 1.1070, 1.1040; resistance – 1.1100, 1.1140, 1.1170. Trade recommendations: 1. Sell — 1.1060; SL — 1.1080; TP1 — 1.1000; TP2 – 1.0980. Reason: bullish Ichimoku Cloud, falling down Senkou Span A; dead cross of Tenkan-sen and Kijun-sen. https://new.fxbazooka.com/img/articl...rusdh4(20).png More: https://new.fxbazooka.com/analytics/9977 |
Re: Market news and trade recommendations by FBS
AUD/USD: the heavy growth of Aussie
8/9/2016 Technical levels: support – 0.7620, 0.7590; resistance – 0.7650. Trade recommendations: 1. Buy — 0.7620; SL — 0.7600; TP1 — 0.7680; TP2 — 0.7750. Reason: a bullish mood of Ichimoku Indicator; a golden cross of Tenkan-sen and Kijun-sen. https://new.fxbazooka.com/img/articl...udusdh4(4).png More: https://new.fxbazooka.com/analytics/9978 |
Re: Market news and trade recommendations by FBS
USD/JPY: testing the Clouds lower border
8/9/2016 Technical levels: support – 101.75, 101.20; resistance – 102.30/40. Trade recommendations: 1. Sell — 102.30; SL — 102.50; TP1 — 101.75; TP2 — 101.20. Reason: cancelled golden cross formed by Tenkan-sen and Kijun-sen; bearish Ichimoku Cloud; strong resistance formed by Senkou Span A. https://new.fxbazooka.com/img/articl...sdjpyh4(6).png More: https://new.fxbazooka.com/analytics/9979 |
Re: Market news and trade recommendations by FBS
Key option levels for Tuesday, August 9th
8/9/2016 EUR/USD https://new.fxbazooka.com/img/articl...EURUSD(10).png Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 17 720 ? + 1 316 ? Closest resistance levels 1.1156; 1.1174; 1.1196; 1.1222 Closest support levels 1.1047; 1.1029; 1.1005; 1.0977 Trading recommendations Baseline scenario Short EUR/USD below 1.1047, with target points at 1.1029 and 1.1005 Alternative scenario Moving above 1.1156 can be considered as a signal to buy the pair, with target at 1.1174 and 1.1196 GBP/USD https://new.fxbazooka.com/img/articl.../GBPUSD(8).png Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 3 037 ? + 2 906 ? Closest resistance levels 1.3162; 1.3211; 1.3273; 1.3346 Closest support levels 1.2936; 1.2912; 1.2885; 1.2856 Trading recommendations Baseline scenario Sell GBP/USD below 1.2936, with target points at 1.2912 and 1.2885 Alternative scenario Moving above 1.3162 can be considered as a signal to buy the pair, with target at 1.3211 and 1.3273 USD/JPY https://new.fxbazooka.com/img/articl.../USDJPY(9).png Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 3 283 ? + 1 249 ? Closest resistance levels 102.88; 103.18; 103.38; 103.63 Closest support levels 102.01; 101.53; 101.29; 101.01 Trading recommendations Baseline scenario Long USD/JPY above 102.88, with the target points at 103.18 and 103.38 Alternative scenario Moving below 102.01 can be considered as a signal to sell the pair, with target at 101.53 and 101.29 USD/CAD https://new.fxbazooka.com/img/articl.../USDCAD(9).png Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest - 871 ? + 1 686 ? Closest resistance levels 1.3203; 1.3224; 1.3254; 1.3294 Closest support levels 1.3135; 1.3098; 1.3068; 1.3031 Trading recommendations Baseline scenario Buy USD/CAD above 1.3203, with the target points at 1.3224 and 1.3254 Alternative scenario Moving below 1.3135 can be considered as a signal to sell the pair, with target at 1.3098 and 1.3068 EUR JPY GBP CAD More: https://new.fxbazooka.com/analytics/9980 |
Re: Market news and trade recommendations by FBS
EUR/USD: "V-Bottom" led to upward correction
8/9/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png The price has been moving up and down under the Moving Averages. So, the market is likely going to get a resistance on the 89 Moving Average. If a pullback from this line happens, there’ll be an opportunity to have a decline towards a support at 1.1045 – 1.1023. https://new.fxbazooka.com/img/articl...016-EUR-H1.png As we can see on the one-hour chart, there’s a “Flag” pattern, which points to a possible upward movement in the direction of the nearest resistance at 1.1120. However, if we see a pullback from this level, bears will probably try to achieve a support at 1.1032 -1.1023. More: https://new.fxbazooka.com/analytics/9984 |
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GBP/USD: two "Pennants" in a row
8/9/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png There’s a consolidation along a support at 1.3015. So, the price is likely going to reach a resistance at 1.3119 in the short term. Considering a possible pullback from this resistance, we should keep an eye on the next support at 1.2849 – 1.2795 as a bearish target. https://new.fxbazooka.com/img/articl...016-GBP-H1.png The price faced a support at 1.2945, so we’ve got a “V-Bottom” pattern here, which led to the current flat. Therefore, bulls are likely going to reach a resistance at 1.3056 – 1.3071 shortly. At the same time, bears are strong enough to catch a support at 1.2945 – 1.2848 afterwards. More: https://new.fxbazooka.com/analytics/9985 More: https://new.fxbazooka.com/analytics/9985 |
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EUR/USD: wave [iii] is about to be continued
8/9/2016 https://new.fxbazooka.com/img/articl...9105631001.png The price has been declining since a pullback from 4/8 Murrey Math Level (P=200) happened, so we’ve got a downward impulse in wave [i]. Also, the pair found a lodgement, which makes possible to have an extension in wave [iii]. Under this circumstances, the intraday target is -2/8 Murrey Math Level. https://new.fxbazooka.com/img/articl...9105631002.png As we can see on the one-hour chart, wave (ii) has been formed under 4/8 Murrey Math Level. Therefore, bears are likely going to deliver wave (iii) in the short term. However, if bulls break 4/8 Murrey Math Level, there’ll be an opportunity to have another wave count with bigger wave 4. More: https://new.fxbazooka.com/analytics/9986 |
Re: Market news and trade recommendations by FBS
EUR/USD: strong support by "Window"
8/9/2016 https://new.fxbazooka.com/img/articl...08eurusdh4.png There’s a strong support by the nearest “Window”, so we’ve got a “Hammer” and an “Engulfing”, but both patterns haven’t been confirmed yet. Therefore, bulls are likely going to deliver an upward correction in the short term. As we can see on the Daily chart, here’s an unconfirmed “High Wave” at the local low. In this case, there’s an opportunity to have a correction towards the middle of the last black candles. https://new.fxbazooka.com/img/articl...08eurusdh1.png We’ve got a consolidation, which brought a new support level. Also, there’re a “Harami” and a “Hammer”, so the market is likely going to rise in the direction of the nearest resistance line. More: https://new.fxbazooka.com/analytics/9987 |
Re: Market news and trade recommendations by FBS
USD/JPY: "Window" could act as a support
8/9/2016 https://new.fxbazooka.com/img/articl...08usdjpyH4.png There’s an “Engulfing” at the local high. Also, the last “Window” is still open, so the price is likely going to get a support on this “Window”. As we can see on the Daily chart, there’s a “Harami”, which has been confirmed enough. Therefore, bulls are probably going to deliver an upward correction. https://new.fxbazooka.com/img/articl...08usdjpyH1.png The pair has been declining since a “Gravestone Doji” was formed at the last high. So, the market is likely going to test the nearest Moving Averages. If we see a pullback from these lines, there’ll be an opportunity to have another bullish rally. More: https://new.fxbazooka.com/analytics/9988 |
Re: Market news and trade recommendations by FBS
GBP/CAD reversed from resistance zone
8/9/2016 GBP/CAD reversed from resistance zone Next sell target - 1.6750 GBP/CAD recently reversed down sharply from the resistance zone lying between the resistance level 1.7550, upper daily Bollinger Band and the 38.2% Fibonacci correction level of the previous sharp intermediate downward impulse (3) from June. The downward reversal from this resistance zone started the active intermediate impulse wave (5), which belongs to the primary impulse ③ from May. GBP/CAD is expected to fall further toward the next sell target at the strong support level 1.6750 (which stopped the aforementioned impulse wave (3) in July). https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/9989 |
Re: Market news and trade recommendations by FBS
[B]EUR/GBP rising inside minor impulse wave 5[/URL]
8/9/2016 EUR/GBP rising inside minor impulse wave 5 Next buy target - 0.8620 EUR/GBP continues to rise inside the minor impulse wave 5 - which started earlier – when the pair reversed up from the support zone lying between the support level 0.8300 and the 38.2% Fibonacci retracement of the previous sharp upward impulse 3 from the end of June. The active impulse wave 5 belongs to the intermediate impulse wave (3) from the end of May. EUR/GBP is expected to rise further in the active impulse waves 5 and (3) toward the next buy target at the pivotal resistance level 0.8620 (which stopped the previous minor impulse wave 3 in June, as can be seen below). https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/9990 |
Re: Market news and trade recommendations by FBS
NZD/USD & RBNZ Interest Rate Decision: Consolidating below 0.7050 after the event?
8/10/2016 Today at 21:00 GMT will be released the RBNZ rate statement, together with the official interest rate decision that could see a cut from 2.25% to 2.00%. Markets are expecting that rate cut and that's why we've have been seeing very volatile moves on the Kiwi, as the uncertainty remains there. Also, traders will be closely watching for the monetary policy statement, due to be published at the same time. The technical picture for NZD/USD at H4 chart is bullish on a general overview, as the pair remains trading above the 200 SMA. However, last week was quite bearish for the Kiwi and later it found support around the 0.7108 level. Also, during the last week, NZD/USD found resistance around the 78.6% retracement level, where a pullback happened. As the markets are expecting a rate cut, a decline to the 0.7050 level can happen, while a “hawkish” statement by RBNZ could send the pair to test the highs from last week. https://new.fxbazooka.com/img/articl...ZDUSDH4(8).png More: https://new.fxbazooka.com/analytics/9993 |
Re: Market news and trade recommendations by FBS
GBP/USD makes a "dead cat bounce"
8/10/2016 On the daily GBP/USD chart the bulls make a lot of efforts to return the pair to the borders of the medium-term consolidation range of 1.3070-1.3490. Failure at its upper border will give the lead back to the bears and increase the risks of decline to 1.29 and lower. https://new.fxbazooka.com/img/articl...0_08_12_07.png On H1 GBP/USD made an inversed "Shark" pattern. This will help the pair reach 113% target (1.311), although many will want to sell the pound at 38.2% (1.3115), 50% (1.3165) and 78.6% (1.3280) Fibonacci of the last descending wave. Traders should think about selling at the mentioned levels. https://new.fxbazooka.com/img/articl...0_08_12_25.png More: https://new.fxbazooka.com/analytics/9994 |
Re: Market news and trade recommendations by FBS
XAU/USD: gold resumed trend
8/10/2016 On the daily XAU/USD chart there was unsuccessful test of the lower border of the medium-term uptrend channel painted in red. It points at the weakness of the bears. If the bulls manage to overcome resistance at $1365-1370 an ounce, the way to 1410 will remain open. https://new.fxbazooka.com/img/articl...0_07_59_06.png On H1 XAU/USD the bulls managed to overcome resistance at $1350, which is now acting as support. The main goal of the bulls – to hold above this level. Success will increase the risks of testing $1360 an ounce and reach the $1364-1367 convergence area. Failure, on the other hand will lead to a decline to $1330-1340. https://new.fxbazooka.com/img/articl...0_07_58_41.png More: https://new.fxbazooka.com/analytics/9995 |
Re: Market news and trade recommendations by FBS
EUR/USD: "Pennant" led to new local high
8/10/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png There was a consolidation under the Moving Averages, which has been ended by the last bullish rally, so the price faced a resistance at 1.1145. Therefore, the pair is likely going to reach a support on the 89 Moving Average in the short term. However, if we see a pullback from this line, there’ll be an opportunity for another upward movement. https://new.fxbazooka.com/img/articl...016-EUR-H1.png The last “Flag” pattern has done such a great job, so we’ve got a new local high here. Finally, bulls found a resistance at 1.1166, which led to the current local flat. So, the market is likely going to get a support at 1.1145 – 1.1120 during the day. Considering a possible pullback from this area, bulls will probably try to catch a resistance at 1.1166 – 1.1186 afterwards. More: https://new.fxbazooka.com/analytics/9996 |
Re: Market news and trade recommendations by FBS
Key option levels for Wednesday, August 10th
8/10/2016 EUR/USD https://new.fxbazooka.com/img/articl...EURUSD(11).png Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest - 45 158 ? + 360 883 ? Closest resistance levels 1.1158; 1.1186; 1.1206; 1.1230 Closest support levels 1.1115; 1.1096; 1.1067; 1.1046 Trading recommendations Baseline scenario Short EUR/USD below 1.1115, with target points at 1.1096 and 1.1067 Alternative scenario Moving above 1.1158 can be considered as a signal to buy the pair, with target at 1.1186 and 1.1206 GBP/USD https://new.fxbazooka.com/img/articl.../GBPUSD(9).png Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 2 468 ? + 3 030 ? Closest resistance levels 1.3100; 1.3140; 1.3165; 1.3194 Closest support levels 1.2986; 1.2962/49; 1.2915; 1.2869 Trading recommendations Baseline scenario Sell GBP/USD below 1.2986, with target points at 1.2962 and 1.2915 Alternative scenario Moving above 1.3100 can be considered as a signal to buy the pair, with target at 1.3140 and 1.3165 USD/JPY https://new.fxbazooka.com/img/articl...USDJPY(10).png Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 1 212 ? + 23 ? Closest resistance levels 102.76; 103.01; 103.31; 103.65 Closest support levels 101.02; 100.79; 100.51;100.20 Trading recommendations Baseline scenario Long USD/JPY above 102.76, with the target points at 103.01 and 103.31 Alternative scenario Moving below 101.02 can be considered as a signal to sell the pair, with target at 100.79 and 100.51 USD/CAD https://new.fxbazooka.com/img/articl...USDCAD(10).png Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 1 744 ? + 103 ? Closest resistance levels 1.3158(72?); 1.3194; 1.3228; 1.3271 Closest support levels 1.3055; 1.3023; 1.2980; 1.2928 Trading recommendations Baseline scenario Buy USD/CAD above 1.3158, with the target points at 1.3194 and 1.3228 Alternative scenario Moving below 1.3055 can be considered as a signal to sell the pair, with target at 1.3023 and 1.2980 MORE: https://new.fxbazooka.com/analytics/9997 |
Re: Market news and trade recommendations by FBS
GBP/USD: "V-Bottom" set up bullish correction
8/10/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png There’s a “V-Bottom” pattern, which led to the last bullish price movement. However, the pair faced a resistance at 1.3119, so the market is likely going to get a support at 1.3015 shortly. If we see a pullback from this level, buyers will probably try to catch the next resistance at 1.3226. https://new.fxbazooka.com/img/articl...016-GBP-H1.png We’ve got a “Triple Bottom”, so the price achieved the 55 Moving Average, which acted as a resistance. Therefore, the market is likely going to decline towards a support at 1.3017. Nevertheless, if a pullback from this level happens, bulls will probably try to deliver a new local high. More: https://new.fxbazooka.com/analytics/9999 |
Re: Market news and trade recommendations by FBS
USD/JPY: the Dollar has weakened against Japanese yen
8/10/2016 Technical levels: support – 101.20; resistance – 101.70. Trade recommendations: 1. Sell — 101.70; SL — 101.90; TP1 — 101.20; TP2 — 100.60. Reason: cancelled golden cross formed by Tenkan-sen and Kijun-sen; bearish Ichimoku Cloud; strong resistance formed by Senkou Span A. https://new.fxbazooka.com/img/articl...sdjpyh4(7).png More: https://new.fxbazooka.com/analytics/10000 |
Re: Market news and trade recommendations by FBS
EUR/USD: possible "Triangle" in wave 4 taking place
8/10/2016 https://new.fxbazooka.com/img/articl...0104819001.png The price is rising, so wave 4 is likely going to be continued in a form of a “Horizontal Triangle”. Therefore, there’s an opportunity to see a consolidation between 7/8 and 6/8 Murrey Math Levels (P=200) in the short term. https://new.fxbazooka.com/img/articl...0104819002.png As we can see on the one-hour chart, there’s a possible zigzag in progress in wave [c]. Considering a pullback from 2/8 Murrey Math Level, the next target is 6/8 Murrey Math Level. If a pullback from this level happens, bears will probably try to deliver wave [d] of 4. More: https://new.fxbazooka.com/analytics/10005 |
Re: Market news and trade recommendations by FBS
EUR/USD: long shadow points to coming local correction
8/10/2016 https://new.fxbazooka.com/img/articl...08eurusdh4.png The price has been rising since a pullback from the lower “Window” happened. So, we’ve got series of bullish patterns such a “Hammer”, an “Engulfing” and a “Three White Soldiers”. The last candles are bullish and there isn’t any reversal pattern so far, which makes possible an achievement the nearest resistance line. As we can see on the Daily chart, here’s a “High Wave” at the local low, which has been confirmed enough. However, there’s an opportunity to have a local correction towards the middle of the last huge white candle. https://new.fxbazooka.com/img/articl...08eurusdh1.png Bears haven’t broken the lower “Window”, so bulls are in the game again. Considering a long shadow of the last white candle, the market is likely going to have a local correction during the day. At the same time, if any bullish pattern arrives later on, buyers will probably try to deliver a new intraday high shortly. More: https://new.fxbazooka.com/analytics/10008 |
Re: Market news and trade recommendations by FBS
USD/CAD reversed from resistance zone
8/10/2016 USD/CAD reversed from resistance zone Next sell targets - 1.3000 and 1.2800 USD/CAD recently reversed down from the resistance zone (which has been steadily reversing this currency pair from the end of May) lying between the resistance levels 1.3120, 1.3230, upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from February. The downward reversal from this resistance zone started the active minor impulse wave (iii) – which belongs to wave 1 of the intermediate impulse wave (3) from July. USD/CAD is set to fall further to the next sell target at the support level 1.3000 – the breakout of which can lead to further losses toward 1.2800. https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/10009 |
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