Market analysis and trade recommendations by FBS

[riki143]

Forex Analytics
CAD/JPY: sell target - 86.00
18 December 2015
By: Dmitriy Chernovolov

• CAD/JPY falling inside impulse waves (iii) and 3
• Next sell target - 86.00

CAD/JPY continues to fall after the recent downward reversal from the resistance zone surrounding the strong resistance level 89.00 (former strong support from September and the buy target set previously for this currency pair). The price reversed down sharply from the resistance level 89.00 – accelerating the active minor impulse waves (iii) and 3 – which belong to the intermediate impulse wave (3) from October.

Having recently broken the support level 88.00 - CAD/JPY is likely to fall further toward the next sell target at the next support level 86.00. Strong resistance remains at 89.00.

More:
https://fxbazooka.com/en/analitycs/show/7400

 

[riki143]

Forex Analytics
CHF/JPY: sell target - 121.00
18 December 2015
By: Dmitriy Chernovolov

• CHF/JPY reversed from resistance zone
• Next sell target - 121.00

CHF/JPY recently reversed down from the resistance zone lying between the resistance level 123.50, the upper daily Bollinger Band, 61.8% Fibonacci correction of the previous sharp downward impulse wave 1 from October and the former support trendline of the earlier daily up channel from September (acting as resistance now after it was broken).

The downward reversal from the aforementioned resistance zone completed the previous minor correction 2 of the 3rd intermediate impulse wave (3) from October. CHF/JPY is likely to fall further to the next sell target at the next support level 121.00.

More:
https://fxbazooka.com/en/analitycs/show/7401

 

[riki143]

Forex Analytics
US dollar: forecast for December 21-27

US dollar showed moderate gains in the past week. The market regarded the outcome of the Federal Reserve’s meeting as more hawkish than expected: the Federal funds rate range was increased by 25 bps and the forecast of the 4 rate hikes in 2016 remained unchanged.

After the net bullish dollar positions declined in the first half of December and the currency corrected to the downside, it can now draw more support from the Fed’s decision. Looking forward we think that the greenback will be able to gain the medium term, though its gains will be gradual. Stock markets have responded to the Fed’s rate hike rather well, so the market’s risk sentiment should be supportive for American currency against the euro, Japanese yen and Swiss franc.

This week watch US final Q3 GDP on Tuesday and a big block of data on Wednesday, including core durable goods orders and new home sales. At the same time, year-end flows will reduce the importance of fundamental drivers and can hurt dollar. On the other hand, keep an eye on oil, which remains extremely volatile: there may be further declines, so USD can gain more versus commodity currencies.

More:
https://fxbazooka.com/en/analitycs/show/7416

 

[riki143]

Forex Analytics
USD/JPY: forecast for December 21-27

The dynamics of USD/JPY in the past week was determined by the actions of the central banks. Firstly the US Federal Reserve raised the interest rate making the pair go up. Then the Bank of Japan announced some changes to its monetary stimulus measures. However, the market regarded the step taken by the central bank as too small. In short, the BOJ will expand the types of assets it purchases, but the total volume of the program will remain the same. Dollar bulls got disappointed, and USD/JPY was once again rejected down from 123.50. Many failures at this resistance level make it a hard obstacle on the upside.

At the same time, the action taken by the Bank of Japan will remind traders that it is actually conducting a massive monetary easing. Together with higher rates in America, this is a huge supporting factor for USD/JPY. There will likely be further technical decline in USD after the failure on the upside, but support line from 2013 is in the 119.20/00 area. Resistance is at 122.00, 123.50 and 124.00.

More:
https://fxbazooka.com/en/analitycs/show/7418

 

[riki143]

Forex Analytics
EUR/USD: forecast for December 21-27

EUR/USD failed to settle above 1.1000 and declined to 1.0800. The bears have to break below this level to provoke decline to 1.0730 and 1.0650. Resistance is at 1.0980, 1.1055 and 1.1100. These obstacles look strong.

Economic data from the euro area in the past week were mixed: PMIs came generally in line with forecasts, but German IFO business climate index disappointed raising concerns about the region’s leading economy.

This week we won’t see a lot of news from Europe. Spanish parliamentary elections can create volatility on Monday: the markets will be watching the event as the European Union urging Spain to make new budget cuts in 2016. Then there will be some minor data from Germany on Monday and Tuesday, while the second half of the week will be devoted to Christmas holidays.

More:
https://fxbazooka.com/en/analitycs/show/7417

 

[riki143]

Forex Analytics
Credit Suisse: trade positions and signals
22 December 2015
Open positions:

EUR/USD: Hold SHORT from 1.0905, TAKE PROFIT 1.0640, STOP LOSS 1.0955 (Entered on December 21).

EUR/CHF: Hold SHORT from 132.40, TAKE PROFIT 129.77, STOP LOSS 133.25 (Entered on December 21).

USD/CHF: Hold LONG from 0.9915, TAKE PROFIT 1.0030 (revised), STOP LOSS 0.9880 (Entered on December 18).

EUR/GBP: Hold LONG from 0.7250, TAKE PROFIT 0.7370, STOP LOSS 0.7198 (Entered on December 15).

NZD/USD: Hold LONG from 0.6700, TAKE PROFIT 0.6865, STOP LOSS 0.6680 (Entered on December 13).

AUD/USD: Hold SHORT from 0.7280, TAKE PROFIT 0.6940, STOP LOSS 0.7385 (Entered on December 7).

Trade signals:

USD/JPY: SELL at 122.00, TAKE PROFIT 120.45, STOP LOSS 122.67 (Entered on December 21).

USD/CAD: BUY at 1.3865, TAKE PROFIT 1.4320, STOP LOSS 1.3743 (Entered on December 21).

More:
https://fxbazooka.com/en/analitycs/show/7429

 

[riki143]

Forex Analytics
AUD/CAD: buy target - 1.0200
22 December 2015
By: Dmitriy Chernovolov

• AUD/CAD broke multiple resistance levels
• Next buy target - 1.0200

AUD/CADhas been rising sharply in the last few trading sessions inside the 5th minor impulse wave 5 of the (C)-wave of the primary ABC correction ② from September. The active (C)-wave earlier broke the daily up channel from September, the resistance level 0.9850 (previous buy target set for this currency pair) and more recently – the price broke through the parity.

The price today broke the next strong resistance level 1.0080 (which reversed the pair sharply in January, as you can see below). If the price closes today above 1.0080 - AUD/CAD can then rise to the next buy target 1.0200.

More:
https://fxbazooka.com/en/analitycs/show/7433

 

[riki143]

Forex Analytics
GBP/AUD: sell target - 2.0400
22 December 2015
By: Dmitriy Chernovolov

• GBP/AUD falling inside impulse waves 3 and (C)
• Next sell target - 2.0400

GBP/AUD has been falling strongly in the last few trading sessions inside the 3rd minor impulse wave 3 which started recently – when the pair reversed down from the resistance zone lying between the resistance level 2.1200 (breakout level of the previous up channel from May), upper daily Bollinger Band and the 50% Fibonacci Correction of the previous downward price move from August.

GBP/AUD is likely to fall further in the active impulse waves 3 and (C) (which belong to the primary ABC wave ②) toward the next sell target at the support level 2.0400 (which stopped the previous minor impulse wave 1).

More:
https://fxbazooka.com/en/analitycs/show/7434

 

[riki143]

Forex Analytics
NZD/USD: buy target - 0.6900
23 December 2015
By: Dmitriy Chernovolov

• NZD/USD broke resistance level 0.6800
• Next buy target - 0.6900

NZD/USD has been rising in the last few trading sessions inside the 3rd minor impulse wave 3 - which belongs to the intermediate (C)-wave from the middle of November. The active impulse wave 3 earlier reversed up sharply with the daily Japanese candlesticks reversal pattern Morning Star from the support zone lying between the support level 0.6600 and the 50% Fibonacci Correction of the previous upward price impulse from November.

Having recently broken above the resistance level 0.6800 - NZD/USD is likely to rise further toward the next buy target at the next strong resistance level 0.6900 (which stopped the previous (A)-wave in October).

More:
https://fxbazooka.com/en/analitycs/show/7445

 

[riki143]

Forex Analytics
GBP/NZD: sell target - 2.1500.
23 December 2015
By: Dmitriy Chernovolov

• GBP/NZD reached sell target 2.2000
• Next sell target - 2.1500.

GBP/NZD recently broke sharply below the support level 2.2000, which was set in our earlier forecast as the sell target for this currency pair. The breakout of the support level 2.2000 follows the earlier breakout of the 50% Fibonacci Correction of the previous sharp upward impulse wave from April. These two consecutive support breakouts are likely to accelerate the active impulse waves 3 and (C)- which belong to the extended primary ABC correction ② from August.

GBP/NZD is expected to fall further in the active waves 3 and (C) toward the next sell target at the support level 2.1500 (target price calculated for the termination of the active impulse wave 3).

More:
https://fxbazooka.com/en/analitycs/show/7444

 

[riki143]

Forex Analytics
GBP/CHF: buy target - 1.4900
28 December 2015
By: Dmitriy Chernovolov

• GBP/CHF reversed from powerful support level 1.4600
• Next buy target - 1.4900

GBP/CHF continues to rise after the recent upward reversal from the powerful support level 1.4600 (which earlier reversed waves (A) and ② in August and October respectively). The support zone near the support level 1.4600 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci Correction of the previous upward price move from May. The latest upward reversal from 1.4600 stopped the C-wave of the previous ABC correction (2).

GBP/CHF is likely to rise further in the next intermediate impulse wave (3) toward the next buy target at the resistance level 1.4900.

More:
https://fxbazooka.com/en/analitycs/show/7474

 

[riki143]

Forex Analytics

EUR/GBP: buy target - 0.7400
29 December 2015
By: Dmitriy Chernovolov

• EUR/GBP rises inside impulse wave (3)
• Next buy target - 0.7400

EUR/GBP continues to rise inside the 3rd intermediate impulse wave (3) - which started earlier this month, when the pair reversed up from the support zone lying between the support level 0.7300 and the 50% Fibonacci correction of the previous sharp minor upward impulse wave 5 from the start of this month. The active impulse wave (3) belongs to the sharp primary impulse wave ③ from the middle of November.

EUR/GBP is likely to rise further to the next buy target at the resistance level 0.7400, which stopped the previous impulse wave (1) earlier this month.

More:
https://fxbazooka.com/en/analitycs/show/7482

 

[riki143]

Forex Analytics
EUR/CAD: buy target - 1.5400
29 December 2015
By: Dmitriy Chernovolov

• EUR/CAD reversed from support zone
• Next buy target - 1.5400

EUR/CAD continues to rise inside the minor impulse wave (iii) – which started earlier this month – when the pair reversed up from the support zone lying between the major round support level 1.5000 and the 38.2% Fibonacci Correction of the previous sharp upward impulse from the start of this month. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Piercing Line – completing the previous correction (ii).

EUR/CAD is likely to rise further toward the next buy target at the resistance level 1.5400 (which reversed the price with the daily Evening Star in August).

More:
https://fxbazooka.com/en/analitycs/show/7481

 

[riki143]

Forex Analytics

CAD/JPY: sell target - 86.30
30 December 2015
By: Dmitriy Chernovolov

• CAD/JPY reversed from resistance zone
• Next sell target - 86.30

CAD/JPY today reversed down from the resistance zone lying between the resistance level 87.30(which also previously reversed the earlier minor correction 4, former strong support from August, acting as resistance now after it was broken) and the 38.2% Fibonacci Correction of the previous sharp downward impulse wave (v) from December. The downward reversal from this resistance zone continues the active minor impulse wave 5 – which belongs to the intermediate impulse (3) from October.

CAD/JPY is likely to fall further toward the next sell target at the support level 86.30 (which stopped the minor impulse wave 3 earlier this month).

More:
https://fxbazooka.com/en/analitycs/show/7488

 

[riki143]

Forex Analytics

GBP/USD: sell target - 1.4750
30 December 2015
By: Dmitriy Chernovolov

• GBP/USD falling inside impulse waves (iii), 3 and (3)
• Next sell target - 1.4750

GBP/USD has been falling sharply in the last few trading sessions- following the earlier breakout of the round support level 1.5000, which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 1.5000 accelerated the active impulse waves 3 and (3). The price earlier reversed down from the lower channel line of the wide daily down channel from June - which further accelerated the downward movement of this currency pair.

GBP/USD is likely to fall further in the active impulse waves (iii), 3 and (3) toward the next sell target at the support level 1.4750 (target price for the termination of wave 3).

More:
https://fxbazooka.com/en/analitycs/show/7487

 

[riki143]

Forex Analytics
GBP/JPY: sell target - 172.00
6 January 2016
By: Dmitriy Chernovolov

• GBP/JPY broke pivotal support level 176.00
• Next sell target - 172.00

GBP/JPY continues to fall strongly – following the earlier breakout of the pivotal long-term support level 176.00, which has been reversing the price from the start of 2015, as you can see from the daily GBP/JPY chart below. The breakout of this support level follows the earlier breakout of the support level 178.00, which was set as the sell target in our previous forecast for this currency pair.

GBP/JPY is likely to fall further in the accelerated impulse waves 3 and (v) (which belong to the sharp intermediate impulse wave (C) from November of 2015) toward the next sell target at the support level 172.00 (forecast price for the termination of the active impulse wave 3).

More:
https://fxbazooka.com/en/analitycs/show/7513

 

[riki143]

Forex Analytics
USD/CAD: buy targets - 1.4200 and 1.4400
6 January 2016
By: Dmitriy Chernovolov

• USD/CAD reached buy target 1.4000
• Next buy targets - 1.4200 and 1.4400

USD/CAD continues to rise after the earlier breakout of the round resistance level 1.4000 – which was set as the buy target in our previous forecast for this currency pair. The breakout of the resistance level 1.4000 is likely to accelerate the active minor impulse wave (iii) – which started earlier- when the pair reversed up from the support zone lying between the support level 1.3800 and the 38.2% Fibonacci correction of the previous sharp upward impulse from the start of December.

USD/CAD is likely to rise further in the active impulse waves (iii), 3 and (3) toward the next buy target at the resistance level 1.4200 – the breakout of which can lead to further gains toward 1.4400.

More:
https://fxbazooka.com/en/analitycs/show/7514

 

[riki143]

Forex Analytics
USD/JPY: sell targets - 117.00 and 116.20
7 January 2016
By: Dmitriy Chernovolov

• USD/JPY broke pivotal support level 118.60
• Next sell targets - 117.00 and 116.20

USD/JPY today broke below the pivotal support level 118.60 (which has been reversing the price from the end of August, as you can see below). This support level also reversed the pair multiple times in March and April of last year. The breakout of the support level 118.60 accelerated the active (c)-wave of the minor ABC correction 2 from the middle of November.

USD/JPY is likely to fall further in the active waves (c) and 2 toward the next sell target at the support level 117.00 – the breakout of which can lead to further losses toward the next major support level 116.20 (which reversed the previous intermediate ABC correction (4) in August).

More:
https://fxbazooka.com/en/analitycs/show/7521

 

[riki143]

Forex Analytics

GBP/USD: sell target - 1.4500
7 January 2016
By: Dmitriy Chernovolov

• GBP/USD reached sell target 1.4750
• Next sell target - 1.4500

GBP/USD recently fell sharply – breaking through the support level 1.4750, which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level accelerated the active minor impulse waves (iii) and 5, which belong to the sharp intermediate downward impulse wave (3) from August.

The price is currently trading close to the pivotal, multi-month support level 1.4570 (which stopped the previous primary impulse wave ① in April, as can be seen below).If the price breaks below 1.4570, GBP/USD can then fall further to the next sell target at the support level 1.4500 (target price for the completion of the active impulse wave (3)).

More:
https://fxbazooka.com/en/analitycs/show/7522

 

[riki143]

Forex Analytics
GBP/CAD: buy target - 2.0800
8 January 2016
By: Dmitriy Chernovolov

• GBP/CAD reversed from support zone
• Next buy target - 2.0800

GBP/CAD continues to rise inside the 3rd minor impulse wave 3 – which started recently, when the pair reversed up from the support zone lying between the strong support level 2.0350 (former upper boundary of the sideways price range from October, acting as support now after it was broken), the lower daily Bollinger Band and the 50% Fibonacci Correction of the previous sharp upward impulse (v) from the start of December.

GBP/CAD is likely to rise further in the active impulse wave 3 toward the next buy target at the next resistance level 2.0800 (which stopped the (b)-wave of the previous ABC correction 2 from December).

More:
https://fxbazooka.com/en/analitycs/show/7526