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AUD/USD: outlook for Aug. 29 - Sep. 4
8/29/2016 AUD/USD formed a very bearish candle on Friday and fell below May-July support line. The decline of Australian dollar was caused by the general strength of the US dollar and a pause in advance of commodity prices. This week Australia will release building approvals on Tuesday and private capital expenditure and retail sales on Thursday. The Reserve Bank of Australia’s Assistant Governor Debelle will speak on Wednesday. The market’s risk sentiment and, consequently, the dynamics of Australian dollar will be also affected by China’s manufacturing and non0manufacturing indexes due on Thursday. Support is at 0.7530, 0.7500 and 0.7455. Resistance is at 0.7600, 0.7650 and 0.7700. Selling Aussie on the pair’s attempts to recover seems like the best strategy. https://new.fxbazooka.com/img/articl...DDaily(12).png More: https://new.fxbazooka.com/analytics/10242 |
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US dollar: outlook for Aug. 29 - Sep. 4
8/29/2016 US dollar index made strong gains on Friday closing above July-August resistance line. US currency has potential to strengthen to 95.95 (May high) and 96.00. Support is in the 94.95 area. Data confirmed that US GDP growth has slowed down in Q2 from 2.6% to 1.1%. However, the market’s attention was focused not on this figures, but on comments from the Federal Reserve’s members. The Fed’s Chair Janet Yellen said in Jackson Hole that the case for an interest rate hike has strengthened in recent months as the labor market and economy have improved. As a result, the expectations of the Fed’s rate hike rose from 21% to 33% for September and from 52% to 59% for December. Although Yellen gave no hints on the timing of any hike, but Fed Vice Chair Stanley Fischer claimed that Yellen's speech was consistent with expectations for possible interest rate increases this year. Fisher’s words became the main bullish driver for the greenback. Fisher also noted that August nonfarm payrolls report, due on Friday, September 2, will play a big role in the Fed’s decision. Other important events in the US economic calendar this week include CB consumer confidence on Tuesday, ADP employment report Chicago PMI and pending home sales on Wednesday and ISM manufacturing PMI on Thursday. All in all, the dynamics of the US dollar will be data-dependent. Members of the Federal Reserve are divided about a rate hike, to the market’s expectations of a rate hike may swing in either direction and have an impact on the currency. https://new.fxbazooka.com/img/articl...llar_index.png More: https://new.fxbazooka.com/analytics/10243 |
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USD/JPY & CB Consumer Confidence: How long can be the correction in the US dollar?
8/30/2016 This week we'll have some major headlines in terms of macro data from the United States and today we'll start with the CB Consumer Confidence due to be released at 14:00 GMT. Last reading gave us a 97.3 number, but analysts are expecting a possible decrease at least to the 97.2 for August. During the last three data, CB showed a positive pattern, with only posting a decline from 94.7 to 92.6 in May. Overall, in terms of technical analysis for USD/JPY at H1 chart, following the Jackson Hole Symposium that strengthened to the US Dollar across the board, we're seeing a consolidation above the 50 and 200 SMA. The nearest support can be found at the 101.87 level, that should have a breakout to the downside in the negative scenario from CB Consumer Confidence, while a positive one should push the pair to test higher levels above the resistance zone of 102.33. https://new.fxbazooka.com/img/articl...SDJPYH1(4).png More: https://new.fxbazooka.com/analytics/10244 |
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EUR/USD is losing ground
8/30/2016 On the daily chart EUR/USD after reaching the targets of AB=CD pattern and leaving the bullish channel the euro reached support at 1.1175 (38.2% of the last descending wave). As a result, the pair formed a doji bar. If the pair falls below its minimum, risks of decline to 1.1072 will increase. https://new.fxbazooka.com/img/articl...0_07_23_03.png On H1 after the reversal of EUR/USD the combination of "Tree Indians" pattern and 1-2-3 made the pair reach 224% of AB=CD. The bears ran into support at 1.1169. Below this leve we'll see a decline to 1.1115 and lower. In line with the principle of the widening wedge, traders should sell the euro on attempts to rise to 1.1206 and 1.1233-1.1244. https://new.fxbazooka.com/img/articl...0_07_25_49.png More: https://new.fxbazooka.com/analytics/10245 |
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USD/jPY: bulls backed off
8/30/2016 On the daily chart the break of resistance at 100.83 made the pair go to the upper border of the previous consolidation range of 100.8-102.7. If the sellers manage to keep the pair below yesterday's high, pin bar after the 80-20 model will increase the risks of the bearish counterattack. On the contrary, if the pair renews yesterday's highs, the bulls will continue correction towards the upper border of the long-term descending channel. https://new.fxbazooka.com/img/articl...0_07_29_01.png On H1 USD/JPY emerged from the triangle and this let the bulls to reach 88.6% target of the Bat pattern. After that the pair formed descending triangle. Successful test of its lower border will increase risks of a pullback towards 101.3. On the other hand, if the pair rises above its upper border and then reaches ? 102.4 high, it will mean that the rally continues. https://new.fxbazooka.com/img/articl...0_07_32_00.png More: https://new.fxbazooka.com/analytics/10246 |
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EUR/USD: on the Clouds support
8/30/2016 Technical levels: support – 1.1160, 1.1100; resistance – 1.1205, 1.1250. Trade recommendations: 1. Buy — 1.1160; SL — 1.1140; TP1 — 1.1205; TP2 – 1.1250. Reason: a cancelled dead cross of Tenkan-sen and Kijun-sen; a bullish Ichimoku Cloud and a strong resistance of Senkou Span B. https://new.fxbazooka.com/img/articl...rusdh4(29).png More: https://new.fxbazooka.com/analytics/10247 |
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GBP/USD: the Bulls have lost the positions above the Cloud
8/30/2016 Technical levels: support – 1.3020, 1.2965; resistance – 1.3120. Trade recommendations: 1. Sell — 1.3080; SL — 1.3100; TP1 — 1.3020; TP2 — 1.2965. Reason: a bullish Ichimoku Cloud, but the Tenkan-sen and Kijun-sen are horizontal; the prices are in the negative area. https://new.fxbazooka.com/img/articl...pusdh4(13).png More: https://new.fxbazooka.com/analytics/10248 |
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AUD/USD: at the crossroads
8/30/2016 Technical levels: support – 0.7540/60; resistance – 0.7590, 0.7620. Trade recommendations: 1. Buy — 0.7560; SL — 0.7540; TP1 — 0.7620; TP2 — 0.7680. Reason: Tenkan-sen and Kijun-sen are horizontal; a bearish Ichimoku Cloud, but the Senkou Span B is going up; there is a strong support on the D1-timeframe. https://new.fxbazooka.com/img/articl...dusdh4(13).png More: https://new.fxbazooka.com/analytics/10249 |
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Key option levels for Tuesday, August 30th
8/30/2016 EUR/USD https://new.fxbazooka.com/img/articl...EURUSD(24).png Main trend Short-term period Medium-term period Bullish Bearish Changes in the open interest + 216 532 ? + 70 035 ? Closest resistance levels 1.1216; 1.1243; 1.1265; 1.1293 Closest support levels 1.1153; 1.1130; 1.1102; 1.1068 Trading recommendations Baseline scenario Long EUR/USD above 1.1216, with the target points at 1.1243 and 1.1265 Alternative scenario Moving below 1.1153 can be considered as a signal to sell the pair, with target at 1.1130 and 1.1102 GBP/USD https://new.fxbazooka.com/img/articl...GBPUSD(23).png Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 532 ? + 201 ? Closest resistance levels 1.3138; 1.3162; 1.3180; 1.3202 Closest support levels 1.3055; 1.3035; 1.3011; 1.2983 Trading recommendations Baseline scenario Short GBP/USD below 1.3055, with target points at 1.3035 and 1.3011 Alternative scenario Moving above 1.3138 can be considered as a signal to buy the pair, with target at 1.3162 and 1.3180 USD/JPY https://new.fxbazooka.com/img/articl...USDJPY(23).png Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 720 ? + 611 ? Closest resistance levels 102.39; 102.57; 102.83; 103.14 Closest support levels 101.78; 101.51(35?); 101.13; 100.87 Trading recommendations Baseline scenario Buy USD/JPY above 102.39, with the target points at 102.57 and 102.83 Alternative scenario Moving below 101.78 can be considered as a signal to sell the pair, with target at 101.51 and 101.13 USD/CAD https://new.fxbazooka.com/img/articl...USDCAD(22).png Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 289 ? + 488 ? Closest resistance levels 1.3058; 1.3089; 1.3135; 1.3196 Closest support levels 1.2982; 1.2955; 1.2917 Trading recommendations Baseline scenario Long USD/CAD above 1.3058, with the target points at 1.3089 and 1.3135 Alternative scenario Moving below 1.2982 can be considered as a signal to sell the pair, with target at 1.2955 and 1.2917 More: https://new.fxbazooka.com/analytics/10252 |
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EUR/USD: new low coming soon
8/30/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png The price faced a support at 1.1160, so we’ve got a local consolidation. Considering a bearish “Triple Top” pattern, the market is likely going to falling down in the short term. If we see a pullback from the next support at 1.1130, there’ll be an opportunity to have an upward correction. https://new.fxbazooka.com/img/articl...016-EUR-H1.png The pair is moving up and down between a support at 1.1152 and a resistance at 1.1176. Therefore, the market is likely going to reach the closest support at 1.1130 shortly. At the same time, if a pullback from this level happens, bulls will probably try to deliver a new high. More: https://new.fxbazooka.com/analytics/10253 |
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GBP/USD: "Double Top" highlights possible decline
8/30/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png Bears faced a support at 1.3056, so we’ve got an upward correction in progress. Also, there’s a “Double Top”, so bears are likely going to reach a support at 1.3022. However, if a pullback from this level be on the table, there’ll be a chance to see a bullish correction towards a resistance at 1.3119 – 1.3183. https://new.fxbazooka.com/img/articl...016-GBP-H1.png We’ve got a “V-Bottom” pattern, so the market is consolidating. At the same time, there’s a “Double Top”, so the price is likely going to decline in the direction of the nearest support at 1.3022 in the short term. More: https://new.fxbazooka.com/analytics/10254 |
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AUD/USD reversed from strong resistance zone
8/30/2016 AUD/USD reversed from strong resistance zone Next sell targets - 0.7500 and 0.7400 AUD/USD has been falling in the last two weeks inside the intermediate impulse wave (3) – which started earlier – when the pair reversed down from the strong resistance zone lying between the resistance levels 0.7700 and 0.7800 (which also earlier reversed the previous primary ABC correction ?, as can be seen below). The downward reversal from this resistance zone created the weekly Japanese candlesticks reversal pattern Falling Star. AUD/USD is expected to fall down further to the next sell target at the support level 0.7500 – the breakout of which can lead to further losses toward 0.7400. https://new.fxbazooka.com/img/articl...M_(1_week).png More: https://new.fxbazooka.com/analytics/10255 |
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EUR/GBP rising inside intermediate impulse wave
EUR/GBP rising inside intermediate impulse wave Next buy target - 0.8600 EUR/GBP recently reversed up from the support zone lying between the support level 0.8500 and the 50% Fibonacci correction of the previous sharp upward impulse from the middle of July. The upward reversal from this support area completed the previous intermediate ABC correction (4) - which is a part of the primary impulse wave ? from the end of May. EUR/GBP is expected to rise further in the active impulse waves (5) and ? toward the next buy target at the resistance level 0.8600. Buy stop-loss can be placed below the aforementioned support level 0.8500. https://new.fxbazooka.com/img/articl...AM_(1_day).png More: https://new.fxbazooka.com/analytics/10256 |
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USD/JPY: "Window" waiting for bears
8/30/2016 https://new.fxbazooka.com/img/articl...08usdjpyH4.png Bulls have got a support by the nearest “Window”, so there’s a “Morning Doji Star”, which has been confirmed. Therefore, the price is likely going to test the “Window” once again, but if we see a pullback from it, then bulls will be free to deliver a new high. As we can see on the Daily chart, there’s a “Harami” at the local low, so there’s an opportunity to have an achievement of the nearest resistance line. https://new.fxbazooka.com/img/articl...08usdjpyH1.png We’ve got an “Engulfing” and a “Harami” at the local high, but their confirmation isn’t enough. If we see a stronger confirmation later on, then bears will have a reason to get a support on the nearest “Window”. More: https://new.fxbazooka.com/analytics/10261 |
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EUR/USD: "Hammer" points to possible bullish correction
8/30/2016 https://new.fxbazooka.com/img/articl...08eurusdh4.png We’ve got a “Hammer” and a “Harami” at the last local lows, but their confirmation is a quite weak. So, the market is likely going to test the nearest support line once again. If a pullback from this level happens, there’ll be an opportunity to have an upward correction. As we can see on the Daily chart, the price has achieved the 89 Moving Average, so bulls will probably try to deliver a pullback from this line. https://new.fxbazooka.com/img/articl...08eurusdh1.png The main trend is a still bullish, but we’ve got a “Hammer” at the local low. Therefore, the pair is likely going to get a resistance on the 21 Moving Average. If a pullback from this line happens, the nearest support could be tested again. More: https://new.fxbazooka.com/analytics/10260 |
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USD/CAD & Crude Oil Inventories: Strong resistance in place?
8/31/2016 Today at 14:30 GMT will be released the US crude oil inventories, following an unexpected number that weighed on the oil prices during last week. For this time, we could see a decrease from 2.5M to 1.1M, according to the most recent analysts' consensus. Overall higher prices of the oil are putting an interesting scenario across the commodity currencies. For example, USD/CAD is now heading up towards the 1.3100 handle. Our technical overview for the Loonie at H4 chart is still bullish, as it has been trading above the 500 SMA. However, the pair is trapped inside a very volatile range in terms of price action and we should expect a lower reaction when it reaches the resistance zone of 1.3126 and eventually can re-test the support zone of 1.3025. If the USD/CAD clings to break the 1.3126 level, then a next target to the upside would be the 1.3184 price level. https://new.fxbazooka.com/img/articl...SDCADH4(7).png More: https://new.fxbazooka.com/analytics/10262 |
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EUR/USD: bears keep advancing
8/31/2016 On the daily chart EUR/USD, as expected, renewed minimum of the doji bar, which led to continuation of the downtrend. The sentiment remains bearish. Risks of decline towards 1.1110 and 1.1070 are significant. The nearest resistance levels are close to 1.1175 and 1.1206. https://new.fxbazooka.com/img/articl...1_07_16_26.png On H1 the bulls managed to hold at the lower border of the widening wedge. If the pair renews yesterday's low, the pair will keep moving down towards 1.1115 and 1.1080. Use advance towards 1.1206 to sell the euro against the US dollar. https://new.fxbazooka.com/img/articl...1_07_16_41.png More: https://new.fxbazooka.com/analytics/10263 |
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AUD/USD: bears have control
8/31/2016 AUD/USD has reached targets of "Three Indians" pattern. The break below the lower border of the bullish channel means that bears have seized the initiative. The buyers manages to find some support at 0.752, but if the pair falls to yesterday's minimum, this will increase risks of decline to 0.744-0.7450. https://new.fxbazooka.com/img/articl...1_07_20_54.png On H1 AUD/USD is moving within descending trend channel. It means that bears remain in control. The targets of the downtrend are at 0.7490 and 0.7550. The nearest resistance is at 0.755 and 0.7590. https://new.fxbazooka.com/img/articl...1_07_25_11.png More: https://new.fxbazooka.com/analytics/10264 |
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EUR/USD: local "V-top" helps bears to move on
8/31/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png The price faced a support at 1.1130, which brought a consolidation into the market. Also, we’ve got a “V-Bottom” pattern, so bulls are likely going to get a resistance on the 89 Moving Average. Considering a “Triple Top” pattern, bears will probably try to achieve a support at 1.1113 afterwards. https://new.fxbazooka.com/img/articl...016-EUR-H1.png There’s a “Triple Bottom” pattern, but it hasn’t been confirmed yet. So, the market is likely going to decline towards a support at 1.1145 – 1.1130 in the short term. However, if a pullback from this area happens, there’ll an opportunity to have an upward correction. More: https://new.fxbazooka.com/analytics/10267 |
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GBP/USD: holding under the Cloud
8/31/2016 Technical levels: support – 1.3060, 1.3020, 1.2965; resistance – 1.3120. Trade recommendations: 1. Sell — 1.3080; SL — 1.3100; TP1 — 1.3020; TP2 — 1.2965. Reason: narrowing bullish Ichimoku Cloud; a dead cross of Tenkan-sen and Kijun-sen; the prices are fixed under the Cloud. https://new.fxbazooka.com/img/articl...pusdh4(14).png More: https://new.fxbazooka.com/analytics/10268 |
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USD/JPY: the Clouds breakout
8/31/2016 Technical levels: support – 102.50, 101.20; resistance – 103.50, 103.70, 104.10. Trade recommendations: 1. Sell — 103.70; SL — 103.90; TP1 — 102.50; TP2 — 101.20. Reason: a bullish Ichimoku Cloud and the golden cross of Tenkan-sen and Kijun-sen, but the strong resistance near 103.70. https://new.fxbazooka.com/img/articl...djpyh4(17).png More: https://new.fxbazooka.com/analytics/10269 |
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GBP/USD: flat going to end
8/31/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png We’ve got a consolidation, which is taking place on the four-hour chart. Therefore, it’s likely to see a decline towards a support at 1.3056 – 1.3022 in the short term. At the same time, if we have a pullback from these levels, bulls will probably try reach the 89 Moving Average. https://new.fxbazooka.com/img/articl...016-GBP-H1.png The price found a support at 1.3056, which led to the current flat. Also, we’ve got a resistance by the 34 Moving Average. In this case, the pair is likely going to get a support at 1.3069 – 1.3056 shortly, but if a pullback from this area happens, then we should keep an eye on the nearest resistance at 1.3119. More: https://new.fxbazooka.com/analytics/10270 |
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EUR/USD: the third wave going to move on
8/31/2016 https://new.fxbazooka.com/img/articl...1115350001.png The market has been falling down since a pullback from 6/8 Murrey Math Level (P=200) happened. So, we’ve got a bearish impulse in wave iii of (a). Therefore, the price is likely going to reach 1/8 MM Level in the short term. https://new.fxbazooka.com/img/articl...1115350002.png As we can see on the one-hour chart, there’s an extension in wave iii. However, if we see a pullback from 2/8 MM Level (P=400), there’ll be an opportunity to have a local correction. Nevertheless, bears are likely going to deliver wave [5] of iii later on. More: https://new.fxbazooka.com/analytics/10275 |
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Key option levels for Wednesday, August 31th
8/31/2016 EUR/USD https://new.fxbazooka.com/img/articl...EURUSD(25).png Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 60 553 ? + 121 195 ? Closest resistance levels 1.1180(96?); 1.1218; 1.1246; 1.1280 Closest support levels 1.1130; 1.1103; 1.1081; 1.1053 Trading recommendations Baseline scenario Short EUR/USD below 1.1130, with target points at 1.1103 and 1.1081 Alternative scenario Moving above 1.1180 can be considered as a signal to buy the pair, with target at 1.1218 and 1.1246 USD/JPY https://new.fxbazooka.com/img/articl...USDJPY(24).png Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 1 206 ? + 1 247 ? Closest resistance levels 103.36; 103.56; 103.82; 104.14 Closest support levels 102.68(56?); 102.41; 102.20; 101.93 Trading recommendations Baseline scenario Buy USD/JPY above 103.36, with the target points at 103.56 and 103.82 Alternative scenario Moving below 102.68 can be considered as a signal to sell the pair, with target at 102.41 and 102.20 USD/CAD https://new.fxbazooka.com/img/articl...USDCAD(24).png Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 556 ? + 443 ? Closest resistance levels 1.3123; 1.3160; 1.3210; 1.3273 Closest support levels 1.3031; 1.2995; 1.2945 Trading recommendations Baseline scenario Long USD/CAD above 1.3123, with the target points at 1.3160 and 1.3210 Alternative scenario Moving below 1.3031 can be considered as a signal to sell the pair, with target at 1.2995 and 1.2945 More: https://new.fxbazooka.com/analytics/10276 |
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AUD/NZD under bearish pressure
8/31/2016 AUD/NZD under bearish pressure Next sell target - 1.0310 AUD/NZD has been falling in the last few trading sessions – following the earlier breakout of the round support level 1.0500 (which reversed the previous minor impulse wave 1). The breakout of the support level 1.0500 accelerated the active minor impulse wave 3 – which belongs to the intermediate impulse wave (3) from the middle of July. AUD/NZD is expected to fall down further toward the next sell target at the support level 1.0310 (which reversed the previous sharp intermediate impulse wave (1) in July, as can be seen from the daily AUD/NZD chart below). Strong resistance remains at 1.0500. https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/10277 |
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GBP/JPY rising inside intermediate correction
8/31/2016 GBP/JPY rising inside intermediate correction Next buy target - 140.00 GBP/JPY continues to rise inside the second intermediate corrective wave (2) – which started earlier - when the pair reversed up from the support zone lying between the support level 130.00 (previous sell target and the low of the earlier primary impulse wave ?) and the lower daily Bollinger Band. GBP/JPY is expected to rise further in the active intermediate wave (2) toward the next buy target at the resistance level 140.00 (top of the earlier minor B-wave from July) - coinciding with the 38.2% Fibonacci correction of the previous sharp downward impulse from the end of June). https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/10278 |
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AUD/USD: bears going to deliver wave iii of (iii)
8/31/2016 https://new.fxbazooka.com/img/articl...1124928001.png There’s a possible wedge in wave [i], which led to form wave [ii] in a form of a zigzag. Previously, we’ve got two pullbacks from 7/8 Murrey Math Level (P=200) in a row. Therefore, wave [iii] is likely going to be continued, so we should keep an eye on 1/8 MM as a possible bearish target. https://new.fxbazooka.com/img/articl...1124928002.png As we can see on the one-hour chart, wave i was formed yesterday, so we’ve got wave ii in progress. It’s likely that the price is going to test 3/8 MM Level during the day. If we see a pullback from this level, there’ll be an opportunity to have wave iii of (iii). More: https://new.fxbazooka.com/analytics/10279 |
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EUR/USD: "Inverted Hammer" set up bullish correction
8/31/2016 https://new.fxbazooka.com/img/articl...08eurusdh4.png We’ve got a bullish “Inverted Hammer”, but its confirmation is a quite weak. Therefore, the price is likely going to test the nearest “Window” once again. If a pullback from this level happens, there’ll be an opportunity to have an upward correction. As we can see on the Daily chart, there isn’t any reversal pattern so far. However, if we see one on the nearest support line, bulls will probably try to deliver an upward correction. https://new.fxbazooka.com/img/articl...08eurusdh1.png There’s another “Inverted Hammer” at the local low, which has been confirmed enough. So, the market is likely going to reach the 21 Moving Average during the day. If we have a pullback from this line, bears are likely going to break the last low. More: https://new.fxbazooka.com/analytics/10280 |
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USD/JPY: "Window" acted as support
8/31/2016 https://new.fxbazooka.com/img/articl...08usdjpyH4.png We’ve got a bullish trend without any reversal patterns, so the price is likely going to reach the nearest resistance level. As we can see on the Daily chart, the pair is rising towards the 34 Moving Average. If we see any bearish pattern on this line, there’ll be an opportunity to have a local correction. https://new.fxbazooka.com/img/articl...08usdjpyH1.png The price faced a support on the previously formed “Window”, which led to the current bullish rally. There’s a “Doji” at the local high, but its confirmation isn’t enough. So, if we get stronger confirmation of this pattern, then bears will have a chance to achieve the closes support level. More: https://new.fxbazooka.com/analytics/10281 |
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GBP/USD went North
9/1/2016 On the daily GBP/USD chart the bulls managed to beat off the bears' attack. Support at 1.3072 held and then the pound went towards the upper border of the triangle. Successful test of the diagonal resistance will increase the risks of growth to 1.327, failure will make the pair return to the starting position. https://new.fxbazooka.com/img/articl...7_05_47(1).png On H1 GBP/USD reached the target of the "Shark" pattern. Recoil from convergence area of 1.3061-1.3071 was the signal for the bullish attack. The break of resistance at 1.3166-1.3181 creates opportunity for the resumption of the short-term uptrend. If resistance holds, it would mean that the pair's forming "Head-and-Shoulders" pattern. https://new.fxbazooka.com/img/articl...7_36_01(1).png More: https://new.fxbazooka.com/analytics/10282 |
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USD/CAD: the triangle pulls loonie in
9/1/2016 On the daily USD/CAD chart the bulls managed to return the prices inside the the rising triangle. The pair formed a doji bar on August 31. If the pair renews high and attacks resistance at 1.32, this will increase the risks of advance towards 1.33 and 1.357. https://new.fxbazooka.com/img/articl...1_07_14_15.png On H1 USD/CAD reached 224% of AB=CD and 78.6% Fibonacci of the last descending wave. The inability of the bulls to overcome convergence area of 1.311-1.3125 will be a signal of their weakness and will lead to correction in case of successful test of support at 1.3080. On the other hand, a break of resistance at 1.315 will resume the uptrend. https://new.fxbazooka.com/img/articl...1_07_14_00.png More: https://new.fxbazooka.com/analytics/10283 |
Re: Market news and trade recommendations by FBS
GBP/USD & UK Manufacturing PMI: More pressure for the Sterling?
9/1/2016 Today we expect a major macro data from the UK to be released at 08:30 GMT, where we'll know the Manufacturing PMI for August and analysts are expecting a slight improvement in the number from 48.2 to 49.0. There are still concerns across the board about the strength of British economy following the Brexit referendum. With that being said, there are doubts about if Q3 economic data from the UK will remain to show a solid pace. Our technical view for GBP/USD at H4 chart is calling for a bearish triangle formation, as the Cable didn't manage to break the August 3rd highs and now it's facing a support at the 1.3066 level. With a lower than expected number, we should see a decline towards the next key support at the 1.2946 price zone, while a positive release from the UK Manufacturing PMI will make the pair crawl higher to test the 1.3261 level in a short-term basis. https://new.fxbazooka.com/img/articl...BPUSDH4(7).png |
Re: Market news and trade recommendations by FBS
EUR/USD: on the Clouds support
9/1/2016 Technical levels: support – 1.1130, 1.1100; resistance – 1.1260. Trade recommendations: 1. Buy — 1.1160; SL — 1.1140; TP1 — 1.1205; TP2 – 1.1260. Reason: a golden cross of Tenkan-sen and Kijun-sen; a bullish Ichimoku Cloud; the support of Cloud. https://new.fxbazooka.com/img/articl...rusdh4(30).png More: https://new.fxbazooka.com/analytics/10285 |
Re: Market news and trade recommendations by FBS
AUD/USD: the Clouds airbag
9/1/2016 Technical levels: support – 0.7500; resistance – 0.7590, 0.7680. Trade recommendations: 1. Buy — 0.7550/60; SL — 0.7540; TP1 — 0.7620; TP2 — 0.7680. Reason: a golden cross, but Kijun-sen is growing; a bullish Ichimoku Cloud. https://new.fxbazooka.com/img/articl...dusdh4(14).png More: https://new.fxbazooka.com/analytics/10286 |
Re: Market news and trade recommendations by FBS
USD/JPY: under pressure of 104.00
9/1/2016 Technical levels: support – 102.50, 101.20; resistance – 103.50, 103.70, 104.10. Trade recommendations: 1. Sell — 103.70; SL — 103.90; TP1 — 102.50; TP2 — 101.20. Reason: a bullish Ichimoku Cloud and the golden cross of Tenkan-sen and Kijun-sen, but the strong resistance near 103.70. https://new.fxbazooka.com/img/articl...djpyh4(18).png More: [IMG=https://new.fxbazooka.com/analytics/10287]https://new.fxbazooka.com/analytics/10287[/URL] |
Re: Market news and trade recommendations by FBS
EUR/USD: Moving Averages waiting for bulls
9/1/2016 https://new.fxbazooka.com/img/articl...016-EUR-H4.png The price faced a support at 1.1113, so we’ve got a consolidation in progress. Also, there’s a “V-Bottom” pattern, so the market is likely going to move up towards the 89 Moving Average. Considering a “Triple Top” pattern, bears will probably try to test a support at 1.1113 once again. https://new.fxbazooka.com/img/articl...016-EUR-H1.png We’ve got a local “Triple Bottom” on the one-hour chart, so there’s a bullish correction. Therefore, the pair is likely going to get a resistance between the 55 Moving Average and a level at 1.1192. If we see a pullback from this area, there’ll be an opportunity to have a decline towards a support at 1.1122 – 1.1113. More: https://new.fxbazooka.com/analytics/10288 |
Re: Market news and trade recommendations by FBS
Key option levels for Thursday, September 1st
9/1/2016 EUR/USD https://new.fxbazooka.com/img/articl...EURUSD(26).png Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest -?- (no data) -?- (no data) Closest resistance levels 1.1191; 1.1223; 1.1248; 1.1280 Closest support levels 1.1149; 1.1118; 1.1093; 1.1062 Trading recommendations Baseline scenario Short EUR/USD below 1.1149, with target points at 1.1118 and 1.1093 Alternative scenario Moving above 1.1191 can be considered as a signal to buy the pair, with target at 1.1223 and 1.1248 GBP/USD https://new.fxbazooka.com/img/articl...GBPUSD(26).png Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest -?- (no data) -?- (no data) Closest resistance levels 1.3163; 1.3198; 1.3223; 1.3253 Closest support levels 1.3104; 1.3077; 1.3057; 1.3032 Trading recommendations Baseline scenario Short GBP/USD below 1.3104, with target points at 1.3077 and 1.3057 Alternative scenario Moving above 1.3163 can be considered as a signal to buy the pair, with target at 1.3198 and 1.3223 USD/JPY https://new.fxbazooka.com/img/articl...USDJPY(25).png Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest -?- (no data) -?- (no data) Closest resistance levels 103.50; 103.66; 104.01; 104.28 Closest support levels 102.93; 102.46; 102.13; 101.76 Trading recommendations Baseline scenario Buy USD/JPY above 103.50, with the target points at 103.66 and 104.01 Alternative scenario Moving below 102.93 can be considered as a signal to sell the pair, with target at 102.46 and 102.13 USD/CAD https://new.fxbazooka.com/img/articl...USDCAD(25).png Main trend Short-term period Medium-term period Bearish Bullish Changes in the open interest -?- (no data) -?- (no data) Closest resistance levels 1.3125; 1.3148; 1.3175; 1.3221 Closest support levels 1.3082; 1.3055; 1.3014; 1.2957 Trading recommendations Baseline scenario Short USD/CAD below 1.3082, with target points at 1.3055 and 1.3014 Alternative scenario Moving above 1.3125 can be considered as a signal to buy the pair, with target at 1.3148 and 1.3175 EUR JPY GBP CAD More: https://new.fxbazooka.com/analytics/10289 |
Re: Market news and trade recommendations by FBS
GBP/USD: local "Triple Bottom" led to bullish correction
9/1/2016 https://new.fxbazooka.com/img/articl...016-GBP-H4.png There’s a “Triple Bottom” pattern, which led to the current consolidation. So, the market is likely going to get a resistance at 1.3183 – 1.3209 in the short term. At the same time, bears will probably try to reach a support at 1.3092 – 1.3056 later on. https://new.fxbazooka.com/img/articl...016-GBP-H1.png We’ve got a “Triple Bottom” on the one-hour chart as well. Therefore, bulls are likely going to test a resistance at 1.3183 – 1.3209 soon. However, if a pullback from this levels happens, there’ll be a chance to have a downward movement in the direction of a support at 1.3092 – 1.3069. More: https://new.fxbazooka.com/analytics/10290 |
Re: Market news and trade recommendations by FBS
EUR/USD: bearish extension going to move on
[/B] 9/1/2016 https://new.fxbazooka.com/img/articl...1101421001.png There’s a bearish impulse in wave (a), which is taking place on the four-hour chart. Previously, we’ve got two pullbacks from 6/8 Murrey Math Level (P=200). So, bears are likely going to finish wave iii of (a) in the short term. If we see a pullback from 2/8 MM Level, there’ll be an opportunity to have an upward correction. https://new.fxbazooka.com/img/articl...1101421002.png The price has been falling down since a double zigzag in wave ii was ended. It’s likely that we’re going to see wave [5] of iii during the day. However, there’s a huge chance to have wave iv soon, so we should keep an eye on 3/8 MM Level as a target for this possible correction. More: https://new.fxbazooka.com/analytics/10291 |
Re: Market news and trade recommendations by FBS
NZD/CHF broke resistance level 0.7150
9/1/2016 NZD/CHF broke resistance level 0.7150 Next buy target - 0.7220 NZD/CHF continues to rise – following the earlier breakout of the key resistance level 0.7150 (which stopped the previous sharp impulse wave (i) at the start of August, as can be seen from the daily NZD/CHF chart below). The breakout of the resistance level 0.7150 is likely to accelerate the active minor impulse wave 5 – which belongs to the intermediate impulse wave (3) from the middle of January. NZD/CHF is expected to rise further in the direction of the next buy target at the strong resistance level 0.7220 (which stopped the previous sharp minor impulse wave 3 in the middle of July). https://new.fxbazooka.com/img/articl...AM_(1_day).png More: https://new.fxbazooka.com/analytics/10303 |
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