Market analysis and trade recommendations by FBS

[riki143]

GBP/CAD broke daily down channel
7/5/2016

GBP/CAD broke daily down channel
Next sell target - 1.6500
GBP/CAD recently broke through the support levels 1.7600 (previous sell target set in our earlier forecast for this currency pair) - and 1.7500. After breaking below 1.7500 – the pair corrected up to test this price level (acting as resistance now after it was broken by the previous sharp downward impulse wave (3)) – after which the price reversed down – starting the active intermediate impulse wave (5).

The pair today broke the support trendline of the daily down channel from January – which should accelerate the active impulse wave (3). GBP/CAD is expected to fall further to the next sell target at the support level 1.6500.

More:
https://new.fxbazooka.com/analytics/9488

 

[riki143]

GBP/CHF broke key support level 1.2860
7/5/2016

GBP/CHF broke key support level 1.2860
Next sell target - 1.2600
GBP/CHF recently reversed down sharply from the resistance zone lying at the intersection of the resistance level 1.3200 and the 23.6% Fibonacci retracement level of the earlier sharp downward impulse from the end of June. The downward reversal from this resistance zone completed the previous minor correction 4 of the active intermediate impulse wave (C) from the end of May.

GBP/CHF today broke below the key support level 1.2860 (which stopped the previous minor impulse wave 3). The breakout of this support level follows the earlier breakout of the wide daily down channel from December. GBP/CHF is likely to fall further to the next sell target at the support level 1.2600.

More:
https://new.fxbazooka.com/analytics/9489

 

[riki143]

EUR/USD: "Shooting Star" calling bears into the market
7/5/2016

The price has achieved the 55 Moving Average, so we’ve got a “Shooting Star” here, but this pattern hasn’t been confirmed yet. At the same time, the upper side of the current window is acting as a resistance. So, the 55 Moving Average is likely going to be tested once again. If a pullback from it happens afterwards, a bearish price movement becomes possible. As we can see on the Daily chart, there’s a possible bearish pattern on the 89 Moving Average, so if it confirms, bears will likely try to move on.

We’ve got a pullback from the nearest resistance line, which led to form a “Harami” pattern, but it hasn’t been confirmed yet. If it has later on, there’ll be an opportunity to see another downward movement in the direction of the last low.

More:
https://new.fxbazooka.com/analytics/9490

 

[riki143]

USD/JPY: bears in the game again
7/5/2016

The price has been falling down since a “Doji” arrived at the last high. So, bears is likely going to move on in the short term. As we can see on the Daily chart, there’s an “Engulfing” at the local high, which has been confirmed enough. Considering there isn’t any reversal pattern so far, the current decline is going to be continued.

We’ve got a “Three Methods” pattern right after an “Engulfing” at the last high. Moreover, the nearest “Window” has been broken, so bears are absolutely free to go on and deliver new lows one by one.

More:
https://new.fxbazooka.com/analytics/9491

 

[riki143]

EUR/USD: bears started to attack
7/6/2016

The downtrend is resuming on the daily EUR/USD chart. This may be seen from the position of the moving averages (EMA9 and EMA26) and the fact that –DMI is above +DMI. MACD begins declining - a reason to look for sell signals.

On H1 EUR/USD is moving down within 5-0 pattern. The pair has finished the final wave. Return to 23.6%, 38.2%, 50% and 61.8% should be used for entering short positions. For confirmation one may use the advance of Stochastics above 80 with the following return to the borders of 20-80 channel.

Recommendations: SELL 1,1093, SL 1,1154 TP 1,0893; SELL 1,1111, SL 1,1154 TP1,0911.

More:
https://new.fxbazooka.com/analytics/9494

 

[riki143]

GBP/USD: don't try to catch falling knives
7/6/2016

British pound keeps declining versus the US dollar. GBP/USD has reached our previous targets. The main question now is: where is the bottom? Harmonic patterns will show us an answer.

On H1 long-term model AB=CD, painted in red, with target at 127.2% points at 1.25. Here we also have the target of the medium-term AB=CD pattern and projection 3-4. It's formed based on projection 1-2, which links the upper and the lower borders of the long-term uptrend channel. As a result, GBP/USD hasn't reached the bottom yen and may continue falling to 1.25.

More:
https://new.fxbazooka.com/analytics/9495

 

[riki143]

EUR/USD: the downtrend has resumed
7/6/2016

During yesterday's trading the Eurodollar unsuccessfully tested again the 1.1170 resistance. The frustrated bulls had left the market resulting in strong short sales of the currency pair. During the day the major Forex currency pair had lost more than one figure and went to the negative zone on the H4- timeframe. Tenkan-Sen and Kijun-Sen narrowed the channel and the gold cross will be canceled so soon. Therefore in the near future we expect the continuation of the downtrend.

Technical levels: support - 1.1040; resistance - 1.1070/80, 1.1100.

Trade recommendations:

1. Sell — 1.1070; SL — 1.1090; TP1 — 1.1000; TP2 — 1.0950.

More:
https://new.fxbazooka.com/analytics/9496

 

[riki143]

USD/JPY: the bears are coming
7/6/2016

As we expected, rebound from the bottom of the four-hour Ichimoku’s cloud has led to a resumption of the downtrend on USD/JPY market. During the past days the currency pair has updated 2-week lows dropping to 100.60. It’s a strong supporting area.

There is a bearish picture on the four-hour timeframe: a dead cross and negative cloud are tuned up for the sales. At the same time the market is very oversold right now. There may be correctional movements.

Technical levels: support – 100.60, 99.60; resistance – 102.40.

Trade recommendations:

1. Sell — 101.40; SL — 101.60; TP1 — 100.60; TP2 — 99.60.

More:
https://new.fxbazooka.com/analytics/9497

 

[riki143]

AUD/USD: correction to the cloud
7/6/2016

Touching the resistance 0.7540, the currency pair AUD/ USD started correction to the Tenkan and Kijun. But the lines could not support the short-term bearish market and it is fell to the Ichimoku cloud.

Tenkan-Sen and Kijun-sen are cancelled the golden cross effect threatens to change the short-term trend. At the same time the cloud has kept a bullish mood. We expect in the near future the consolidation in the range of 0.7410-0.7470.

Technical levels: support – 0.7410; resistance – 0.7470.

Trade recommendations:

1. Sell — 0.7460; SL — 0.7480; TP1 — 0.7410; TP2 — 0.7380.

More:
https://new.fxbazooka.com/analytics/9498

 

[riki143]

EUR/USD: unstoppable bears broken the "Triangle"
7/6/2016

The last consolidation under the 34 Moving Average has been finally ended by the current bearish leap forward. The price faced a support at 1.1032 afterwards, so the market is likely going to reach a resistance area between the levels 1.1057 – 1.1097 in the short term. If we see a pullback from here afterwards, bears will probably try to achieve a support at 1.0970 – 1.0939.

As we can see on the one-hour chart, the “Triangle’s” lower side has been broken, which led to form a “V-Bottom” afterwards. Therefore, the pair is likely going to get a resistance on the Moving Average lines. However, bears are still in the game, so we should keep in mind a support at 1.0970 – 1.0939 as a possible next intraday target.

More:
https://new.fxbazooka.com/analytics/9499

 

[riki143]

GOLD has almost reached the key level 1375.00
7/6/2016

After fixing higher than 2/8 (1312.50) price has almost reached its main goal at the level 4/8 (1375.00). Nevertheless, the last rebound from STH4, as well as the growing STD1 talk about the possible continuation of growth. The breakdown the level 4/8 at least a third of width of the levels will lead to test mark at the level 5/8 (1403.00). Having one level 4/8 it is not enough to make at least the price correction.

Trade recommendation:

Buy – 1386.00; sl – 1374.00; tp – 1401.00.

More:
https://new.fxbazooka.com/analytics/9500

 

[riki143]

GBP/USD: new lows is coming soon because of the broken "Pennant"
7/6/2016

Bears have broken the last “Pennant”, so the price reached a support at 1.2795 afterwards, which led to the local upward correction. Therefore, the market is likely going to achieve a resistance at 1.3015 -1.3116 in the short term. If a pullback from here happens later on, there’ll be an opportunity to have a decline in the direction of a support at 1.2795.

The price has broken the “Triangle”, so bears reached a support at 1.2795 afterwards. Also, we’ve got a “V-Bottom”, so the market is likely going to rise towards a resistance at 1.3015 – 1.3116. Considering a possible pullback from this area, a downward movement will probably be move on shortly.

More:
https://new.fxbazooka.com/analytics/9501

 

[riki143]

EUR/USD: "Engulfing" led to a massive decline and bears ready to move on
7/5/2016

There’re a “Shooting Star” and an “Engulfing” at the local high. Also, we’ve got a “Hammer”, but it hasn’t been confirmed yet. So, the market is likely going to test the lower side of the nearest huge “Window”, which can act as a resistance. As we can see on the Daily chart, here’s a pattern similar to an “Engulfing”. The last candles are bearish, so the current downward movement is probably going to move on.

We’ve got an “Inverted Hammer” at the nearest support line, which led to the current upward correction. At the same time, here’s a “Doji” at the local maximum, so the price is likely going to test the support once again. If a pullback from this line happens later on, bulls will probably try to reach the upper side of the “Window”.

More:
https://new.fxbazooka.com/analytics/9502

 

[riki143]

USD/JPY: angry bears going to deliver new low
7/6/2016

The price has been declining since a “Doji” formed on the Moving Average line. If the nearest support line brings any bullish candle pattern, there’ll be an opportunity to see an upward correction. As we can see on the Daily chart, here’s an “Engulfing” at the local high, which has been confirmed enough. Bears are likely going to move on, because we haven’t got any reversal pattern so far.

There’re a “Doji” and a “Harami” at the last maximum. The last candles are bearish, so the pair is probably going to deliver a new low during the day.

More:
https://new.fxbazooka.com/analytics/9503

 

[riki143]

EUR/USD after FOMC Minutes: Targeting to levels below 1.10?
7/7/206

Yesterday, FOMC minutes didn't offer major headlines of interest for market traders, as it reflected what everyone knew in some degree: a “wait-and-see” mode from officials after the Brexit referendum's outcome and there are no key comments about current situation of US economy. However, what could bring us more info about it, will be the US NFP this friday, but before that, let's see how the EUR/USD will trade.

In a technical overview at H4 chart, EUR/USD found strong resistance from the 50% Fibonacci retracement level projected from the “Brexit” decline. Currently, it's being supported by the 1.1031, after ECB President Mario Draghi's commentaries. A breakout below will give a fresh bearish momentum to test the 1.0909, which is the low after Brexit. In a bullish scenario, in case that the Greenback gets week this friday after NFP release, pair can look for a consolidation above the 200 SMA.

More:
https://new.fxbazooka.com/analytics/9506

 

[riki143]

EUR/GBP: евро даст фунту фору
7/7/2016

There's an uptrend on the daily EUR/GBP chart. ADX>25 and rising, +DMI>-DMI, EMA9>EMA26. Decline of MACD points at correction. The main recommendation in the current situation is to buy the euro versus the British pound on the break of resistamce.

EUR/GBP formed 1-2-3 pattern on H1. Resistance is close to point 3 at 0.8607. The break above this level will be a singal to enter long position. As confirmation use the return of Stochastics to 20-80 channel.

Recommendation: BUY 0,8607, SL 0,8507, TP1 0,8807.

More:
https://new.fxbazooka.com/analytics/9507

 

[riki143]

XAG/USD: silver is consolidating
7/7/2016

Positioning of the indicators on the daily XAG/USD chart shows that it is under control of the bulls: ADX>25 and rising, +DMI>-DMI, EMA9>EMA26. Dynamics of MACD shows that there's no divergence,which could have signaled potential reversal of the uptrend. In the situation like this the best strategy is to buy silver.

On H1 XAG/USD is consolidating after having formed 1-2-3. It means that "Spike and ledge". Usually it's used to sell on the break of support at $19.61 or to buy on the break of resistance at $20.71 an ounce.

Recommendation: BUY $20,71, SL $19,71 TP22,71.

More:
https://new.fxbazooka.com/analytics/9508

 

[riki143]

EUR/USD: the Bears do not hurry
7/7/2016

Against yesterday’s correctional rising of Eurodollar the market kept its bearish mood. The pair returned to the lines of Tenkan-Sen and Kijun-Sen, but they formed a dead cross. In addition the cloud expanding now in the descending direction. Therefore the breakdown of support 1.1070 will have a negative effects to market sentiment.

Technical levels: support - 1.1070; resistance - 1.1100.

Trade recommendations:

1. Sell — 1.1090; SL — 1.1110; TP1 — 1.1000; TP2 — 1.0950.

More:
https://new.fxbazooka.com/analytics/9509

 

[riki143]

USD/JPY: the Bears have not abandoned their goals
7/7/2016

The currency pair USD/JPY corrected to the four-hours Tenkan-sen yesterday after updating a local minimum for the last two weeks to 100.20. At this the bulls forces has ended and the pair continued to falling.

The market maintained its bearish trend. Negative cloud and dead cross will support the sales of the currency pair.

Technical levels: support – 100.80, 100.20, 99.60; resistance – 101.20.

Trade recommendations:

1. Sell — 101.00; SL — 101.20; TP1 — 100.20; TP2 — 99.60.

More:
https://new.fxbazooka.com/analytics/9510

 

[riki143]

AUD/USD: keeping above the cloud
7/7/2016

The Bulls made a great running yesterday on the AUD/USD market. There has been a breakdown of Tenkan-Sen and Kijun-Sen resistance. The exchange rate of the currency pair rose over 120 pips and returned to the levels of the weeks beginnig - 0.7530.

On the four-hour timeframe preserved a tense situation: all the Ichimoku lines are directed horizontally. Bullish Ichimoku cloud have a narrow range. Tenkan and Kijun formed a dead cross. It’s possible re-returning of the price to the cloud.

Technical levels: support – 0.7475, 0.7500; resistance – 0.7540.

Trade recommendations:

1. Buy — 0.7500; SL — 0.7480; TP1 — 0.7540; TP2 — 0.7590.

More:
https://new.fxbazooka.com/analytics/9511