|
Re: Market news and trade recommendations by FBS
GBP/USD: bears going to deliver new low after correction
1/4/2017 https://new.fxbazooka.com/img/articl...2017-GBP-W.png We’ve got a new historical low, so the pair is consolidating. Meanwhile, there’s a “Flag”, so bears are likely going to test the nearest support at 1.1726. In this case, we could have a new low soon. If any bullish pattern arrives later on, there’ll be a chance to have an upward correction. https://new.fxbazooka.com/img/articl...2017-GBP-D.png The last “Thorn” pattern led to a bullish correction, which is taking place on the Daily chart. Therefore, the price is likely going to achieve the nearest resistance at 1.2556. If we see a pullback from this level, bears will probably try to get a support at 1.2081 – 1.1726. More: https://new.fxbazooka.com/analytics/11926 |
Re: Market news and trade recommendations by FBS
EUR/USD: Euro started a new year with falling
1/4/2017 Technical levels: support – 1.0400, 1.0360; resistance – 1.0420, 1.0450, 1.0500. Trade recommendations: 1. Sell — 1.0450; SL — 1.0470; TP1 — 1.0400; TP2 – 1.0360. Reason: expanding bearish Ichimoku Cloud; a new dead cross of Tenkan-sen and Kijun-sen and the falling Tenkan-sen; the prices are on the new lows since March 2003. https://new.fxbazooka.com/img/articl...rusdh4(74).png More: https://new.fxbazooka.com/analytics/11927 |
Re: Market news and trade recommendations by FBS
AUD/USD: aussie returned into the Cloud
1/4/2017 Technical levels: support – 0.7210, 0.7160; resistance – 0.7245, 0.7275. Trade recommendations: 1. Sell — 0.7275; SL — 0.7295; TP1 — 0.7210; TP2 — 0.7160. Reason: bearish Ichimoku Cloud; a cancelled dead cross of Tenkan-sen and Kijun-sen and forming a new golden cross; the prices are in a correctional movement in the Cloud. https://new.fxbazooka.com/img/articl...dusdh4(64).png More: https://new.fxbazooka.com/analytics/11928 |
Re: Market news and trade recommendations by FBS
Key option levels for Wednesday, January 4th
1/4/2017 EUR/USD https://new.fxbazooka.com/img/articl...EURUSD(96).png Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest - 7 417 ? + 21 502 ? Closest resistance levels 1.0451; 1.0487; 1.0505; 1.0529 Closest support levels 1.0410; 1.0394(?); 1.0370; 1.0339 Trading recommendations Baseline scenario Short EUR/USD below 1.0410, with target points at 1.0394 and 1.0370 Alternative scenario Moving above 1.0451 can be considered as a signal to Buy the pair, with target at 1.0487 and 1.0505 GBP/USD https://new.fxbazooka.com/img/articl...GBPUSD(88).png Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 97 ? + 32 ? Closest resistance levels 1.2290; 1.2310; 1.2337; 1.2372 Closest support levels 1.2251; 1.2232; 1.2194; 1.2164 Trading recommendations Baseline scenario Long GBP/USD above 1.2290, with target points at 1.2310 and 1.2337 Alternative scenario Moving below 1.2251 can be considered as a signal to Sell the pair, with target at 1.2232 and 1.2194 USD/CAD https://new.fxbazooka.com/img/articl...USDCAD(82).png Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 236 ? + 8 ? Closest resistance levels 1.3421; 1.3439; 1.3475; 1.3503 Closest support levels 1.3398; 1.3367; 1.3339; 1.3314 Trading recommendations Baseline scenario Long USD/CAD above 1.3421, with the target points at 1.3439 and 1.3475 Alternative scenario Moving below 1.3398 can be considered as a signal to Sell the pair, with target at 1.3367 and 1.3339 AUD/USD https://new.fxbazooka.com/img/articl.../AUDUSD(1).png Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 163 ? + 386 ? Closest resistance levels 0.7268; 0.7307; 0.7333; 0.7353 Closest support levels 0.7201; 0.7168; 0.7135; 0.7104 Trading recommendations Baseline scenario Short AUD/USD below 0.7201, with the target points at 0.7168 and 0.7135 Alternative scenario Moving above 0.7268 can be considered as a signal to Buy the pair, with target at 0.7307 and 0.7333 More: https://new.fxbazooka.com/analytics/11931 |
Re: Market news and trade recommendations by FBS
EUR/USD: bearish "Shooting Star"
https://new.fxbazooka.com/img/articl...401eurusdW.png A bearish trend is still on the table, so the middle of the last huge black candle acted as a resistance. Also, there’s a bearish “Three Methods” pattern. If it confirms, the market is likely going to continue falling down until any bullish pattern arrives. https://new.fxbazooka.com/img/articl...401eurusdD.png We’ve got a “Shooting Star” at the local high, which has been confirmed enough. However, bulls are likely gong to test the nearest resistance once again. If a pullback from this level happens, bears will probably try to deliver a new low shortly. More: https://new.fxbazooka.com/analytics/11932 |
Re: Market news and trade recommendations by FBS
USD/JPY: bulls ready to move on
1/4/2017 https://new.fxbazooka.com/img/articl...401usdjpyW.png The price has tested the nearest resistance again, but we still don’t have any bearish pattern. Also, the last candles have been closed under the middle of the huge white candle. In this case, bulls are likely going to break the resistance soon. https://new.fxbazooka.com/img/articl...401usdjpyD.png We’ve got a correction, which is taking place on the Daily chart. So, there’s bearish patterns such a “Shooting Star”, a “High Wave” and a “Harami”. Meanwhile, there’s an opportunity to have another test of the closest support. If we see a pullback from this level, the last high is likely going to be broken. More: https://new.fxbazooka.com/analytics/11933 |
Re: Market news and trade recommendations by FBS
EUR/USD: wave (iii) is about to start
1/4/2017 https://new.fxbazooka.com/img/articl...4152341001.png Wave (i) has ended on 1/8 MM Level, so the price is rising in wave (ii). Previously, we’ve got a zigzag in wave [ii]. So, if a pullback from 2/8 MM Level happens in the short term, bears are likely going to deliver a bearish impulse in wave (iii). https://new.fxbazooka.com/img/articl...4152341002.png There’re a bearish impulse in wave (i) and a bullish impulse in wave a. So, wave c of (ii) is likely going to test 4/8 MM Level, which could be a departure point for another decline. More: https://new.fxbazooka.com/analytics/11934 |
Re: Market news and trade recommendations by FBS
AUD/USD reversed from support area
1/4/2016 AUD/USD reversed from support area Next buy target - 0.7320 AUD/USD continues to rise strongly inside the minor impulse wave (i) – which belongs to the impulse wave 3- which started earlier - when the pair reversed up sharply from the support zone lying between the major support level 0.7150 (low of the earlier intermediate ABC correction (2) from May and the previous sell target set for this currency pair) and the lower daily Bollinger Band. AUD/USD is expected to rise further in the direction of the next buy target at the resistance level 0.7320 (previous powerful support level from November). Strong support remains at the aforementioned support level 0.7150. https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/11935 |
Re: Market news and trade recommendations by FBS
AUD/CHF rising inside minor corrective wave 2
1/4/2017 AUD/CHF rising inside minor corrective wave 2 Next buy target - 0.7500 AUD/CHF continues to rise inside the minor corrective wave 2, which started earlier - when the pair reversed up from the support zone surrounding the powerful support level 0.7270 (which reversed the price multiple times from July, as can be seen below), lower daily Bollinger Band and the 61.8% Fibonacci retracement of the previous upward impulse from the middle of June. AUD/CHF is expected to rise further toward the next buy target at the resistance level 0.7500 (target price calculated for the termination of the active minor correction 2). https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/11936 |
Re: Market news and trade recommendations by FBS
EUR/USD: bullish "Thorn"
1/5/2017 https://new.fxbazooka.com/img/articl...017-EUR-H4.png We’ve got a bullish “Thorn”, which led to the current upward correction. The 89 Moving Average is acting as a resistance. However, bulls are likely going to break the downtrend, so we should keep an eye on the nearest resistance at 1.0655 as a possible intraday target. If a pullback from this level happens, there’ll be an opportunity to have a decline towards a support between the levels 1.0461 – 1.0419. https://new.fxbazooka.com/img/articl...017-EUR-H1.png The price has broken all Moving Averages. Despite of a resistance at 1.0552, the market is likely going to achieve the next area at 1.0590 – 1.0655 in the short term. Considering a possible pullback from these levels, bears will probably try to reach a support at 1.0524 – 1.0504 afterwards. More: https://new.fxbazooka.com/analytics/11939 |
Re: Market news and trade recommendations by FBS
GBP/USD: bulls going to break the last high
1/5/2017 https://new.fxbazooka.com/img/articl...017-GBP-H4.png The pair faced a support at 1.2250 twice, so we’ve got a possible “Double Bottom” pattern. In this case, there’s an opportunity to have a bullish correction towards an area between the 89 Moving Average and the closest resistance at 1.2418. If a pullback from these levels happens, we should keep an eye on a support at 1.2309 – 1.2270 as an intraday target. https://new.fxbazooka.com/img/articl...017-GBP-H1.png There’s a “Double Bottom”, which has been confirmed enough, so bulls are pushing the market higher. Also, we’ve got a “Pennant” here. Therefore, the price is likely to continue moving up towards a resistance at 1.2359 – 1.2386. If we see a pullback from this area, bears will probably try to deliver a downward correction in the direction of the nearest support at 1.2323 – 1.2309. More: https://new.fxbazooka.com/analytics/11940 |
Re: Market news and trade recommendations by FBS
EUR/USD: Euro returned into the Cloud
1/5/2017 Technical levels: support – 1.0510, 1.0470; resistance – 1.0610. Trade recommendations: 1. Sell — 1.0610; SL — 1.0630; TP1 — 1.0510; TP2 – 1.0470. Reason: bearish mood of Ichimoku Cloud; a new dead cross of Tenkan-sen and Kijun-sen, but there is a narrow channel of Tenkan and Kijun; the prices are in the Cloud; strong resistance of Senkou Span B. https://new.fxbazooka.com/img/articl...rusdh4(75).png More: https://new.fxbazooka.com/analytics/11941 |
Re: Market news and trade recommendations by FBS
GBP/USD: Pound doesn’t want to fall down
1/5/2017 Technical levels: support – 1.2300; resistance – 1.2350, 1.2410. Trade recommendations: 1. Buy — 1.2300; SL — 1.2280; TP1 — 1.2350; TP2 — 1.2410. Reason: bearish Ichimoku Cloud, but the rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but the rising Tenkan-sen; the prices are in the Cloud after bouncing from the bottom border of the Cloud. https://new.fxbazooka.com/img/articl...pusdh4(60).png More: https://new.fxbazooka.com/analytics/11942 |
Re: Market news and trade recommendations by FBS
Key option levels for Thursday, January 5th
1/5/2017 EUR/USD https://new.fxbazooka.com/img/articl...EURUSD(97).png Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 29 530 ↑ - 17 656 ↓ Closest resistance levels 1.0560; 1.0586; 1.0619; 1.0640 Closest support levels 1.0487; 1.0460; 1.0442; 1.0416 Trading recommendations Baseline scenario Long EUR/USD above 1.0560, with target points at 1.0586 and 1.0619 Alternative scenario Moving below 1.0487 can be considered as a signal to Sell the pair, with target at 1.0460 and 1.0442 GBP/USD https://new.fxbazooka.com/img/articl...GBPUSD(89).png Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 286 ↑ + 47 ↑ Closest resistance levels 1.2342; 1.2366; 1.2389; 1.2421 Closest support levels 1.2312; 1.2294; 1.2267; 1.2232 Trading recommendations Baseline scenario Long GBP/USD above 1.2342, with target points at 1.2366 and 1.2389 Alternative scenario Moving below 1.2312 can be considered as a signal to Sell the pair, with target at 1.2294 and 1.2267 USD/CAD https://new.fxbazooka.com/img/articl...USDCAD(83).png Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 329 ↑ + 151 ↑ Closest resistance levels 1.3310; 1.3328(?); 1.3369; 1.3396 Closest support levels 1.3270; 1.3243; 1.3221; 1.3196 Trading recommendations Baseline scenario Long USD/CAD above 1.3310, with the target points at 1.3328 and 1.3369 Alternative scenario Moving below 1.3270 can be considered as a signal to Sell the pair, with target at 1.3243 and 1.3221 More: https://new.fxbazooka.com/analytics/11944 |
Re: Market news and trade recommendations by FBS
EUR/USD: "Engulfing" stopped bulls
1/5/2017 https://new.fxbazooka.com/img/articl...501eurusdD.png There’s a consolidation, which is taking place on the four-hours chart. Also, we’ve got a “Shooting Star”, but there’s a resistance by the 21 Moving Average. So, the market is likely going to continue moving down until any bullish pattern arrives. https://new.fxbazooka.com/img/articl...01eurusdH4.png We’ve got a bearish “Engulfing”, cause the price reached an important resistance. In this case, there’s an opportunity to have a local decline. At the same time, bulls are likely going to test the resistance once again. More: https://new.fxbazooka.com/analytics/11947 |
Re: Market news and trade recommendations by FBS
USD/JPY: bulls going to test "Window"
1/5/2017 https://new.fxbazooka.com/img/articl...501usdjpyD.png We’ve got plenty of bearish patterns such a “Shooting Star”, a “High Wave” and a “Harami”, which all have been confirmed enough. So, the price is likely going to test the nearest support by the last “Three Methods” pattern. If a pullback from this level happens, bulls will probably try to test the last high again. https://new.fxbazooka.com/img/articl...01usdjpyH4.png The price tested the nearest support twice, so we’ve got a “Hammer”, but this pattern hasn’t been confirmed yet. Therefore, bulls are likely going to get a resistance on the closest “Window”, which could be a departure point for another decline. More: https://new.fxbazooka.com/analytics/11948 |
Re: Market news and trade recommendations by FBS
EUR/USD: wave (ii) could be continued
1/5/2017 https://new.fxbazooka.com/img/articl...5160313001.png Wave (i) ended on 1/8 MM Level, so we’ve got an upward correction, which is taking place on the four-hours chart. The main target for wave (ii) is 3/8 MM Level, which could be a departure point for another impulse in wave (iii) of [iii]. https://new.fxbazooka.com/img/articl...5160313002.png We’ve got a bullish impulse, which could be wave a. Therefore, bears are likely going to form wave b in the short term. At the same time, if we see a pullback from 3/8 MM Level, there’ll be an opportunity to have bullish wave c of (ii). More: https://new.fxbazooka.com/analytics/11949 |
Re: Market news and trade recommendations by FBS
EUR/USD reversed from strong support level 1.0400
1/5/2017 EUR/USD reversed from strong support level 1.0400 Next buy targets - 1.0600 and 1.0660 EUR/USD continues to rise after the recent upward reversal form the support zone lying between the strong round support level 1.0400 and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing (which is the second consecutive Bullish Engulfing pattern which was formed recently near this support zone). Given the clear bullish divergence that can be seen on the daily Stochastic indicator - EUR/USD can be expected to rise further toward the next buy targets at the resistance levels 1.0600 and 1.0660 (top of the previous minor correction (ii)). https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/11950 |
Re: Market news and trade recommendations by FBS
USD/CHF reached sell target 1.0200
1/5/2017 USD/CHF reached sell target 1.0200 Next sell target - 1.0060 USD/CHF continues to fall after the recent breakout of the support level 1.0200, which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level accelerated the active downward correction – which started earlier – when the pair reversed down sharply from the powerful, multi-month resistance level 1.0330, as can be seen from the daily USD/CHF chart below. USD/CHF is expected to fall further in the direction of the next sell target at the pivotal support level 1.0060 (which has been reversing the price from the start of December). Sell stop-loss can be placed above the aforementioned price level 1.0200. https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/11951 |
Re: Market news and trade recommendations by FBS
Your volatility calendar for January
1/5/2017 January 6, 15:30 MT time US Nonfarm Payrolls This report is the strongest Forex market mover. The indicator shows how many jobs were created in the US during the past month. Along with NFP the US Department of Labor will publish unemployment rate and average hourly earnings. The Federal Reserve keeps a close eye on these figures while making its monetary policy decisions. As a result, the release has a great impact on the US dollar in all currency pairs. American central bank raised its main interest rate by 25 basis points in December and forecasted 3 rate hikes in 2017. Whether the Fed follows this scenario largely depends on the NFP strength. The Fed’s Chairwoman Janet Yellen claimed that although the state of the US labor market has improved, challenges still remain, so this release will once again draw the market’s attention. https://new.fxbazooka.com/img/articl...95848309_S.jpg January 11, 11:30 MT time British Manufacturing Production Manufacturing production is one of the main barometers of the UK economic health as it reflects producers’ responsiveness to the changes in the business cycle. To tell the truth, British industrial production remains a cause of concern due to the prolonged uncertainty over the EU-UK trade relationship. Another reason is that the UK industrial sector lacks structural competitiveness. The previous release of the indicator showed a drop in the total inflation-adjusted value of output produced by the UK manufacturers hinting on the possibility of Britain’s falling into recession after Brexit. The release at 11:30 MT time will surely have an impact on GBP. January 13, 15:30 MT time US Retail Sales & Producer Prices US retail sales & producer prices are the so-called pace indicators for the US economy. US retail sales data reflect the buying activity of the US citizens, while producer price index shows the changes in the prices of finished goods and services supplied to the market for sales. Higher costs tend to eat into real wages and hit consumers’ purchasing power. Heightened rates of consumer inflation may push the Fed to raise interest rates. All in all, higher readings of these indicators are good for the USD bulls. The release will take place at 15:30 MT time. https://new.fxbazooka.com/img/articles/11865/1x-1.jpg Chinese GDP & Industrial Production China will publish its economic growth data for Q4 and December industrial production at 04:00 MT time. China is the world’s fastest growing economy, so its economic performance matters to all Forex traders. Note that Chinese economy has been experiencing a slowdown during the past several years, so market participants will be keen on finding out whether this trend continues. Risk-sensitive currencies will be most affected by the release. If Chinese figures exceed forecast, we expect Australian and New Zealand’s dollars to strengthen. If the release disappoints, it will be a good time for buying the safe havens like Japanese yen and Swiss franc. January 18, 17:00 MT time BOC Rate Statement The Bank of Canada (BoC) will announce its interest rate decision at 17:00 MT time. Short-term interest rates represent one of Canadian dollar’s key drivers. At its December meeting Canadian central bank didn’t change its benchmark rate from 0.50%. The BoC was encouraged by higher oil prices, improving domestic economic data and weaker national currency. Traders will be looking for hints on the BoC’s future intentions in its monetary policy report, rate statement and the following conference. Currency pairs with CAD will feel the impact of these events. https://new.fxbazooka.com/img/articl...ct-19-2016.jpg January 19, 15:30 MT time ECB Press Conference The European Central Bank’s policy is behind most trends of the single currency. The ECB extended its bond-buying program until December 2017 at its last meeting. This decision provoked a selloff in the euro. Traders are awaiting the press conference of the ECB head Mario Draghi in order to see what’s his take on the European economy and whether the central bank is still confident about the extremely loose monetary policy it has chosen. The press conference is to start at 15:30 MT time. https://new.fxbazooka.com/img/articl..._USD_Lower.png January 23, 11:00 MT time German Ifo Business Climate German Ifo business climate will be released at 11:00 MT time. This indicator provides one of the most reliable projections for the country’s future economic growth. Changes in the business sentiment can produce a hefty market impact. The latest report showed that German economy may be back in the fast lane after its recent slowdown. The euro tends to rise if the released figures exceed analysts’ expectations. January 25, 02:30 MT time Australian CPI Australia releases inflation figures once in a quarter. This release is one of the benchmarks for the policy of the Reserve Bank of Australia. Note that Australian CPI growth picked up in Q2 and Q3 after posting a negative reading in the first 3 months of 2016. If you trade Australian dollar, don’t miss this release! https://new.fxbazooka.com/img/articl...op-620x250.jpg January 26, 11:30 MT time British Prelim GDP British preliminary Q4 GDP will be published at 11:30 MT time. British GDP is the primary indicator of the country’s economic activity. It is believed to be one of the key data releases that impacts the exchange rate of the pound. A reading which is better than the consensus forecast is bullish for the sterling. https://new.fxbazooka.com/img/articl...e_standard.jpg January 27, 15:30 MT time US Advance GDP This is the broadest measure of American economic activity. It will be the first information about the US economic growth in the last 3 months of 2016. Market participants will scrutinize this macroeconomic gauge, and so it will have a sizeable impact on the US dollar. January 31, 12:00 MT time European CPI Flash Estimate The euro area will release consumer inflation figures for January at 12:00 MT time. Inflation data is important for the euro’s exchange rate as rising prices lead the central bank to raising interest rates. Higher rates, in turn, help to increase demand for the euro making the rate go up. As a result, the release should be a significant driver of EUR/USD, EUR/GBP and other pairs containing the European currency. More: https://new.fxbazooka.com/analytics/11865 |
Re: Market news and trade recommendations by FBS
USD/JPY & US NFP (December): Will the USD restart the bullish bias today?
1/6/2017 Today at 13:30 GMT will be released the numbers from the Non-Farm Payrolls for December. The NFP data comes strong following a strong gain posted in November, where the US economy added 178,000 jobs, while the unemployment change remained untouched at 4.6%. Market’s analysts are expecting that NFP will remain around the latest levels from November, but the unemployment rate could expect an increase of 4.7%. If numbers come above the expectation, we can start to see a strong USD demand. Our technical analysis for USD/JPY at H1 chart is still calling for more downside, as the pair is forming a lower low pattern below the resistance level of 115.60. If it manages to break below the 115.31 level, then it can extend the decline towards 114.81. The structure from January 3rd session is a bearish impulsive in terms of Elliott Wave and we can expect some kind of consolidation around 114.81. https://new.fxbazooka.com/img/articl...DJPYH1(10).png More: https://new.fxbazooka.com/analytics/11952 |
Re: Market news and trade recommendations by FBS
EUR/USD: "Double Top" stopped bullish rally
1/6/2017 https://new.fxbazooka.com/img/articl...017-EUR-H4.png There’s an upward correction, which is taking place on the four-hours chart. Bulls have broken the downtrend, so the price is consolidating. Therefore, the market is likely going to decline towards a support at 1.0552 – 1.0524 in the short term. If a pullback from this area happens, there’ll be an opportunity to have another bullish movement, so we should keep an eye on the next resistance at 1.0655 as a possible intraday target. https://new.fxbazooka.com/img/articl...017-EUR-H1.png The price faced a resistance at 1.0629, so we’ve got a “Double Top” pattern, which has been confirmed by the last “Flag”. In this case, bears are likely going to test a support at 1.0552 – 1.0524 during the day. Considering a possible pullback from these levels, bulls will probably try to test a resistance at 1.0590 – 1.0655 afterwards. More: https://new.fxbazooka.com/analytics/11956 |
Re: Market news and trade recommendations by FBS
GBP/USD: bears going to test Moving Averages
1/6/2017 https://new.fxbazooka.com/img/articl...017-GBP-H4.png Bulls found a resistance at 1.2418, which is straightened by the 89 Moving Average. Also, there’s a “Double Top”, so the price is likely going to reach the 34 Moving Average in the short term. At the same time, if a pullback from this line happens, there’ll be an option to have another upward movement. https://new.fxbazooka.com/img/articl...017-GBP-H1.png The last downtrend has been broken, so the price was rising. However, there’s a “Double Top” pattern, which has been confirmed. So, bears are likely going to test the nearest support at 1.2334 – 1.2323, which could be a departure point for a bullish price movement. In this case, we could have a new high soon. More: https://new.fxbazooka.com/analytics/11957 |
Re: Market news and trade recommendations by FBS
Key option levels for Friday, January 6th
1/6/2017 EUR/USD https://new.fxbazooka.com/img/articl...EURUSD(98).png Main trend Short-term period Medium-term period Neutral Neutral Changes in the open interest + 44 152 ? + 112 422 ? Closest resistance levels 1.0624; 1.0648; 1.0669/79; 1.0703 Closest support levels 1.0558; 1.0530; 1.0492; 1.0469 Trading recommendations Baseline scenario (High risk of reversal) Long EUR/USD above 1.0624, with target points at 1.0648 and 1.0669 Alternative scenario Moving below 1.0558 can be considered as a signal to Sell the pair, with target at 1.0530 and 1.0492 GBP/USD https://new.fxbazooka.com/img/articl...GBPUSD(90).png Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 412 ? + 433 ? Closest resistance levels 1.2438; 1.2465/72; 1.2506; 1.2523 Closest support levels 1.2352; 1.2334; 1.2313; 1.2264 Trading recommendations Baseline scenario Short GBP/USD below 1.2352, with target points at 1.2334 and 1.2313 Alternative scenario Moving above 1.2438 can be considered as a signal to Buy the pair, with target at 1.2465 and 1.2506 USD/CAD https://new.fxbazooka.com/img/articl...USDCAD(84).png Main trend Short-term period Medium-term period Bullish Bullish Changes in the open interest + 344 ? + 188 ? Closest resistance levels 1.3266; 1.3289; 1.3323; 1.3367 Closest support levels 1.3219; 1.3189; 1.3170; 1.3144 Trading recommendations Baseline scenario Long USD/CAD above 1.3266, with the target points at 1.3289 and 1.3323 Alternative scenario Moving below 1.3219 can be considered as a signal to Sell the pair, with target at 1.3189 and 1.3170 More: https://new.fxbazooka.com/analytics/11958 |
Re: Market news and trade recommendations by FBS
EUR/USD: Euro tries to breakout SSB
1/6/2017 Technical levels: support – 1.0550; resistance – 1.0610, 1.0655. Trade recommendations: 1. Buy — 1.0550; SL — 1.0530; TP1 — 1.0655; TP2 – 1.0700. Reason: narrow bearish of Ichimoku Cloud, rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; the prices are in the Cloud and tested the strong resistance of Senkou Span B. https://new.fxbazooka.com/img/articl...rusdh4(76).png More: https://new.fxbazooka.com/analytics/11959 |
Re: Market news and trade recommendations by FBS
USD/JPY: bears tested SSB’s support
1/6/2017 Technical levels: support – 115.80, 115.15; resistance – 116.40, 116.80. Trade recommendations: 1. Sell — 116.80; SL — 117.00; TP1 — 115.80; TP2 — 115.15. Reason: narrowing bullish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are on the SSB’s support. https://new.fxbazooka.com/img/articl...djpyh4(65).png More: https://new.fxbazooka.com/analytics/11960 |
Re: Market news and trade recommendations by FBS
EUR/USD: "Window" going to act as a resistance
1/6/2017 https://new.fxbazooka.com/img/articl...601eurusdD.png We’ve got a “High Wave” and an “Engulfing”, which both have been confirmed. So, the price is likely going to test the 34 Moving Average in the short term. If a pullback from this line happens, there’ll be an opportunity to have a local decline towards the nearest support level. https://new.fxbazooka.com/img/articl...01eurusdh4.png The last “Engulfing” pattern hasn’t been confirmed, so bulls are likely going to get a resistance on the closest “Window”. If we see any bearish pattern on this level afterwards, bears will probably try to deliver a downward correction. More: https://new.fxbazooka.com/analytics/11961 |
Re: Market news and trade recommendations by FBS
NZD/USD broke resistance level 0.698
1/6/2017 NZD/USD broke resistance level 0.6980 Next buy target - 0.7100 NZD/USD continues to rise strongly inside the c-wave of the minor ABC correction 4 from the end of December. The price earlier broke through the resistance level 0.6980 (top of the previous a-wave of the active ABC correction 4). The breakout of the resistance level 0.6980 intensified the bullish pressure on this currency pair. NZD/USD is expected to rise further to the next buy target at the resistance level 0.7100 (target price calculated for the termination of the active wave 4, coinciding with the 61.8% Fibonacci correction level of the previous sharp downward impulse wave 3 from December). https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/11962 |
Re: Market news and trade recommendations by FBS
AUD/USD reached buy target 0.7320
1/6/2017 AUD/USD reached buy target 0.7320 Next buy target - 1.0060 AUD/USD continues to rise sharply after the recent breakout of the resistance level 0.7320 (which was set as the buy target in our earlier forecast for this currency pair). The breakout of this resistance level accelerated the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the end of December (which started from the strong support level 0.7150). AUD/USD is expected to rise further in the direction of the next buy target at the resistance level 0.7400 (standing close to the 38.2% Fibonacci correction level of the previous sharp downward C-wave from the start of November). https://new.fxbazooka.com/img/articl...PM_(1_day).png More: https://new.fxbazooka.com/analytics/11963 |
Re: Market news and trade recommendations by FBS
EUR/USD: zigzag in wave (ii)
1/6/2017 https://new.fxbazooka.com/img/articl...6144941001.png Wave (ii) seems to be ended, so if we have a pullback from 3/8 MM Level, there’ll be an opportunity to have another bearish impulse in wave (iii). The main intraday target is still -1/8 MM Level. https://new.fxbazooka.com/img/articl...6144941002.png As we can see on the one-hour chart, wave (ii) took form of a zigzag. Previously, downward wave (i) has been formed. In this case, bears are likely going to deliver a bearish impulse in wave i. More: https://new.fxbazooka.com/analytics/11967 |
Re: Market news and trade recommendations by FBS
USD/JPY: bears going to test the nearest support once again
1/6/2017 https://new.fxbazooka.com/img/articl...601usdjpyD.png We’ve got a “Shooting Star”, a “High Wave” and a “Harami”, which all have been confirmed. Therefore, the market is likely going to test a support by the 21 Moving Average. If a pullback from this line happens, there’ll be an opportunity to have another bullish price movement. https://new.fxbazooka.com/img/articl...01usdjpyH4.png There’s an “Inverted Hammer” at the local low, which has a confirmation, so bulls are likely going to deliver an upward correction. At the same time, if a pullback from the nearest resistance arrives, bears will probably try to test closest support once again. More: https://new.fxbazooka.com/analytics/11964 |
Re: Market news and trade recommendations by FBS
Your volatility calendar for January
1/6/2017 January 6, 15:30 MT time US Nonfarm Payrolls This report is the strongest Forex market mover. The indicator shows how many jobs were created in the US during the past month. Along with NFP the US Department of Labor will publish unemployment rate and average hourly earnings. The Federal Reserve keeps a close eye on these figures while making its monetary policy decisions. As a result, the release has a great impact on the US dollar in all currency pairs. American central bank raised its main interest rate by 25 basis points in December and forecasted 3 rate hikes in 2017. Whether the Fed follows this scenario largely depends on the NFP strength. The Fed’s Chairwoman Janet Yellen claimed that although the state of the US labor market has improved, challenges still remain, so this release will once again draw the market’s attention. https://new.fxbazooka.com/img/articl...95848309_S.jpg January 11, 11:30 MT time British Manufacturing Production Manufacturing production is one of the main barometers of the UK economic health as it reflects producers’ responsiveness to the changes in the business cycle. To tell the truth, British industrial production remains a cause of concern due to the prolonged uncertainty over the EU-UK trade relationship. Another reason is that the UK industrial sector lacks structural competitiveness. The previous release of the indicator showed a drop in the total inflation-adjusted value of output produced by the UK manufacturers hinting on the possibility of Britain’s falling into recession after Brexit. The release at 11:30 MT time will surely have an impact on GBP. January 13, 15:30 MT time US Retail Sales & Producer Prices US retail sales & producer prices are the so-called pace indicators for the US economy. US retail sales data reflect the buying activity of the US citizens, while producer price index shows the changes in the prices of finished goods and services supplied to the market for sales. Higher costs tend to eat into real wages and hit consumers’ purchasing power. Heightened rates of consumer inflation may push the Fed to raise interest rates. All in all, higher readings of these indicators are good for the USD bulls. The release will take place at 15:30 MT time. https://new.fxbazooka.com/img/articles/11865/1x-1.jpg Chinese GDP & Industrial Production China will publish its economic growth data for Q4 and December industrial production at 04:00 MT time. China is the world’s fastest growing economy, so its economic performance matters to all Forex traders. Note that Chinese economy has been experiencing a slowdown during the past several years, so market participants will be keen on finding out whether this trend continues. Risk-sensitive currencies will be most affected by the release. If Chinese figures exceed forecast, we expect Australian and New Zealand’s dollars to strengthen. If the release disappoints, it will be a good time for buying the safe havens like Japanese yen and Swiss franc. January 18, 17:00 MT time BOC Rate Statement The Bank of Canada (BoC) will announce its interest rate decision at 17:00 MT time. Short-term interest rates represent one of Canadian dollar’s key drivers. At its December meeting Canadian central bank didn’t change its benchmark rate from 0.50%. The BoC was encouraged by higher oil prices, improving domestic economic data and weaker national currency. Traders will be looking for hints on the BoC’s future intentions in its monetary policy report, rate statement and the following conference. Currency pairs with CAD will feel the impact of these events. https://new.fxbazooka.com/img/articl...ct-19-2016.jpg January 19, 15:30 MT time ECB Press Conference The European Central Bank’s policy is behind most trends of the single currency. The ECB extended its bond-buying program until December 2017 at its last meeting. This decision provoked a selloff in the euro. Traders are awaiting the press conference of the ECB head Mario Draghi in order to see what’s his take on the European economy and whether the central bank is still confident about the extremely loose monetary policy it has chosen. The press conference is to start at 15:30 MT time. https://new.fxbazooka.com/img/articl..._USD_Lower.png January 23, 11:00 MT time German Ifo Business Climate German Ifo business climate will be released at 11:00 MT time. This indicator provides one of the most reliable projections for the country’s future economic growth. Changes in the business sentiment can produce a hefty market impact. The latest report showed that German economy may be back in the fast lane after its recent slowdown. The euro tends to rise if the released figures exceed analysts’ expectations. January 25, 02:30 MT time Australian CPI Australia releases inflation figures once in a quarter. This release is one of the benchmarks for the policy of the Reserve Bank of Australia. Note that Australian CPI growth picked up in Q2 and Q3 after posting a negative reading in the first 3 months of 2016. If you trade Australian dollar, don’t miss this release! https://new.fxbazooka.com/img/articl...op-620x250.jpg January 26, 11:30 MT time British Prelim GDP British preliminary Q4 GDP will be published at 11:30 MT time. British GDP is the primary indicator of the country’s economic activity. It is believed to be one of the key data releases that impacts the exchange rate of the pound. A reading which is better than the consensus forecast is bullish for the sterling. https://new.fxbazooka.com/img/articl...e_standard.jpg January 27, 15:30 MT time US Advance GDP This is the broadest measure of American economic activity. It will be the first information about the US economic growth in the last 3 months of 2016. Market participants will scrutinize this macroeconomic gauge, and so it will have a sizeable impact on the US dollar. January 31, 12:00 MT time European CPI Flash Estimate The euro area will release consumer inflation figures for January at 12:00 MT time. Inflation data is important for the euro’s exchange rate as rising prices lead the central bank to raising interest rates. Higher rates, in turn, help to increase demand for the euro making the rate go up. As a result, the release should be a significant driver of EUR/USD, EUR/GBP and other pairs containing the European currency. More: https://new.fxbazooka.com/analytics/11865 |
Re: Market news and trade recommendations by FBS
Key option levels for Monday, January 9th
1/8/2017 * Data about changes in the open interest will be available on Monday after 12:00 CT (Central Time) EUR/USD https://new.fxbazooka.com/img/articl...URUSD(101).png Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 206 835 ? + 333 594 ? Closest resistance levels 1.0562; 1.0589; 1.0624; 1.0651 Closest support levels 1.0519; 1.0497; 1.0467; 1.0447 Trading recommendations Baseline scenario Short EUR/USD below 1.0519, with target points at 1.0497 and 1.0467 Alternative scenario Moving above 1.0562 can be considered as a signal to Buy the pair, with target at 1.0589 and 1.0624 GBP/USD https://new.fxbazooka.com/img/articl...GBPUSD(91).png Main trend Short-term period Medium-term period Bearish Neutral Changes in the open interest + 198 ? + 1 291 ? Closest resistance levels 1.2311; 1.2332; 1.2352; 1.2380 Closest support levels 1.2255; 1.2232; 1.2199; 1.2177 Trading recommendations Baseline scenario Short GBP/USD below 1.2255, with target points at 1.2232 and 1.2199 Alternative scenario Moving above 1.2311 can be considered as a signal to Buy the pair, with target at 1.2332 and 1.2352 USD/CAD https://new.fxbazooka.com/img/articl...USDCAD(85).png Main trend Short-term period Medium-term period Bearish Bullish Changes in the open interest + 513 ? + 1 107 ? Closest resistance levels 1.3229; 1.3264; 1.3287; 1.3321 Closest support levels 1.3194; 1.3175; 1.3149; 1.3115 Trading recommendations Baseline scenario Short USD/CAD below 1.3194, with the target points at 1.3175 and 1.3149 Alternative scenario Moving above 1.3229 can be considered as a signal to Buy the pair, with target at 1.3264 and 1.3287 AUD/USD https://new.fxbazooka.com/img/articl.../AUDUSD(2).png Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 281 ? + 827 ? Closest resistance levels 0.7337; 0.7354; 0.7376; 0.7403 Closest support levels 0.7288; 0.7270; 0.7240; 0.7217 Trading recommendations Baseline scenario Short AUD/USD below 0.7288, with the target points at 0.7270 and 0.7240 Alternative scenario Moving above 0.7337 can be considered as a signal to Buy the pair, with target at 0.7354 and 0.7376 More: https://new.fxbazooka.com/analytics/11968 |
Re: Market news and trade recommendations by FBS
EUR/USD ahead of German data (November): 200 SMA as the next key support
1/9/2017 Today at 07:00 GMT will be released a bunch of data from Germany, headlined by the Trade Balance (November), which should see an increase to 21.2B from 20.5B. The retail sales can register today a significative increase from -0.5% to 0.4% on its annual reading in November as well. Also, industrial production can expect a 0.6% for November, which is above the 0.3% posted in October. Our technical analysis for EUR/USD at H1 chart ahead of German data is still showing a bullish picture, despite the weakness seen during Friday’s NFP session. Currently, the pair still finds support around 1.0524, where bulls could help to resume the rally towards new highs, but it seems that all odds (in technical terms) are favoring another decline to test the 200 SMA around the 1.0484 level. If that area gives up, then another fall to test the December 28th lows is likely to happen. https://new.fxbazooka.com/img/articl...RUSDH1(18).png More: https://new.fxbazooka.com/analytics/11969 |
Re: Market news and trade recommendations by FBS
NZD/USD: bears are restorting control
1/9/2017 On the daily NZD/USD chart, after the pair has recoiled to 23.6% Fibo it keeps forming the "Ideal butterfly" pattern. The bears remain in control. This is confirmed by the fact that the quotes stay within the descending channel. https://new.fxbazooka.com/img/articl...9_08_15_10.png On H1, the bulls tried to settle above 0.7065 (38.2% Fibo of the last descending wave) but failed. A successful test of support at 0.6950 will strengthen the risks of decline towards 0.6910 (lower border of the bullish trend channel) and 0.6850 (113% ?target of the "Shark" pattern). https://new.fxbazooka.com/img/articl...9_08_15_28.png Recommendation: SELL 0.6950 SL 0.7005 TP1 0.6850 TP2 0.6795. More: https://new.fxbazooka.com/analytics/11970 |
Re: Market news and trade recommendations by FBS
EUR/USD: bears are launching an attack
1/9/2017 On the daily EUR/USD chart, another attempt of the bulls to break above the descending channel has failed. Return to support at 0.0480 and further decline below it will strengthen the chance of falling towards 1.0390 and 1.0230 (113% and 127.2% targets of Crab pattern) and lower. https://new.fxbazooka.com/img/articl...9_08_06_24.png On H1 EUR/USD, in order to resume the long-term downtrend, the bears will have to activate the "Shark" pattern. For this, the pair needs the successful test of 1.0480. https://new.fxbazooka.com/img/articl...9_08_06_38.png Recommendation: SELL 1.0480 SL 1.0535 TP1 1.0360 TP2 1.0230 More: https://new.fxbazooka.com/analytics/11971 |
Re: Market news and trade recommendations by FBS
EUR/USD: bearish "Flag"
1/9//2017 https://new.fxbazooka.com/img/articl...017-EUR-H4.png There’s a “Double Top”, which has been confirmed, so we’ve got an upward price movement. The Moving Averages are acting as a support. Therefore, the market is likely going to decline towards the next support at 1.0461 – 1.0427. If a pullback from this area happens, there’ll be an opportunity to have another bullish movement. https://new.fxbazooka.com/img/articl...017-EUR-H1.png Bears faced a support at 1.0524, but there’s a possible “Flag” pattern, so the price is likely going to test the 89 Moving Average. Considering a possible pullback from this line, there’s a chance to have an upward movement in the direction of the nearest resistance at 1.0524 – 1.0552 in the short term. More: https://new.fxbazooka.com/analytics/11972 |
Re: Market news and trade recommendations by FBS
GBP/USD: "Double Top" led to massive decline
1/9/2017 https://new.fxbazooka.com/img/articl...017-GBP-H4.png The main trend is still bearish. We’ve got a “Double Top” pattern, which has been confirmed, so the price faced a support at 1.2198. Therefore, bears are likely going to reach the next support at 1.2142 in the short term. If a pullback from this level happens, there’ll be an option to have another bullish movement towards a resistance at 1.2270. https://new.fxbazooka.com/img/articl...017-GBP-H1.png Bears have broken all moving averages on the one-hour chart, so we’ve got a new low here. In this case, the price is likely going to continue falling down in the direction of the closest support at 1.2142. If bears be stopped here, there’ll be time for a correction. More: https://new.fxbazooka.com/analytics/11973 |
Re: Market news and trade recommendations by FBS
EUR/USD: wave (iii) started
1/9/2019 https://new.fxbazooka.com/img/articl...9123954001.png We’ve got a pullback from 3/8 MM Level, which points to a possible ending of wave (ii). Previously, wave [ii] has been formed like a zigzag. Therefore, bears are likely going to deliver an impulse in wave (iii) of [iii] in the short term. https://new.fxbazooka.com/img/articl...9123954002.png As we can see on the one-hour chart, there’s a double zigzag in wave (ii). Also, we’ve got a bearish impulse in wave i, so bulls are going to deliver wave ii. If a pullback from 7/8 MM Level arrives later on, there’ll be an opportunity to have another bearish impulse. More: https://new.fxbazooka.com/analytics/11974 |
Re: Market news and trade recommendations by FBS
EUR/USD: Euro stays in the Cloud
1/9/2017 Technical levels: support – 1.0480, 1.0500; resistance – 1.0550, 1.0580. Trade recommendations: 1. Buy — 1.0500; SL — 1.0480; TP1 — 1.0580; TP2 – 1.0690. Reason: bullish, but the narrow Ichimoku Cloud, horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; the prices are in the Cloud; the strong support of Senkou Span A and Kijun-sen. https://new.fxbazooka.com/img/articl...rusdh4(77).png More: https://new.fxbazooka.com/analytics/11975 |
| All times are GMT. The time now is 09:26. |
Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2026, vBulletin Solutions, Inc.