Market analysis and trade recommendations by FBS

[riki143]

Forex Analytics

USD/JPY: new "high wave" arrived
24 March 2016
Galina Svetlova

The market has been rising since an “Engulfing” and a “High Wave” arrived at the last low. In case we’ve got a “Mat Hold”, the upward correction has a reason to be continued. It’s a still possible to see a local downward correction, but then bulls are probably going to reach the 89 Moving Average. As we can see on the Daily chart, the price broke the last “Window” once again, so it’s likely that today’s candle will close above it.

There’s a bullish movement on the one-hour chart. Moreover, the pair has found a lodgement above the 144 Moving Average. We've got a “High Wave” at the last maximum, but it hasn't confirmed yet. So, the downward correction is a likely possible, but then bulls are probably going to set up a new rally, which can going on until any bearish pattern forms.

More:
https://fxbazooka.com/en/analitycs/show/8370

 

[riki143]

Forex Analytics

USD/JPY: buy target - 114.00
24 March 2016
By: Dmitriy Chernovolov

-USD/JPY reversed from major support level 111.00
-Next buy target - 114.00

USD/JPY continues to rise inside the minor corrective wave (ii) – which started earlier, when the pair reversed up from the major support level 111.00 (which reversed previous waves 3 and (b), as can be seen from the daily USD/JPY chart below). The support zone near the support level 111.00 was strengthened by the lower daily Bollinger Band.

Given the clear bullish divergence that can be seen on the daily Stochastic indicator - USD/JPY can be expected to rise further from the current levels toward the next buy target at the resistance level 114.00 (which has been reversing the price from the start of this month).

More:
https://fxbazooka.com/en/analitycs/show/8372

 

[riki143]

Forex Analytics

Trading plan for March 25
24 March 2016
Kira Iukhtenko

US currency regained some power during the past couple of days. However, on Thursday the rally was paused by the mixed US data releases. On Friday, European markets will be closed due to the Easter holidays, so liquidity will likely stay thin. The only release to watch in the economic calendar is the final US Q4 GDP. According to the forecast, no revisions is expected (+1.0%), buy any surprises will clearly move the markets.

EUR/USD is retracing after the last weeks impressive rally. The pair tested 1.1150 on Thursday. In my view, we are moving to the 1.1050 support. The picture will stay bearish below 1.1220 (local highs).

Meanwhile, GBP/USD slowed the decline on Thursday. US retail sales data turned to be better than expected. Support to watch - 1.4050, there is a strong buying interest at these levels.

USD/JPY remains in a bullish channel since March 17. However, the 113 yen figure remains a strong barrier. We see space for a decline to 112.20 in the coming sessions.

AUD/USD fell below 0.7600. In my view, the pair has potential for a decline to 0.7380 in the current overbought conditions.

More:
https://fxbazooka.com/en/analitycs/show/8375

 

[riki143]

Forex Analytics

EUR/USD: the third "pennant" in a row
25 March 2016
Sergey Logachev

The market has faced a support at 1.1156, which led to the current upward correction. Nevertheless, it’s likely to see the price a little bit lower in the short term. If a pullback from a support at 1.1124 appears, then bull will probably try to reach a resistance between the levels 1.1217 – 1.1245.

We’ve got a flat in progress above the upper side (1.1145) of support zone. There’s a possible “Pennant” pattern, so its lower side is likely going to be broken during the day. If so, the downward movement is going to reach a support at 1.1124. If bears be stopped here, then bull will have a chance to achieve a resistance area between the level 1.1237 and the 55 Moving Average.

More:
https://fxbazooka.com/en/analitycs/show/8378

 

[riki143]

Forex Analytics

GBP/USD: "thorn" overset the bear's plans
25 March 2016
Sergey Logachev

The pair has found a support at 1.4052, so currently we've got an upward correction. There's a possible “Thorn” pattern, so a rise is likely going to reach a resistance at 1.4282, but at first the price might test a support at 1.4042 once again.

We’ve got a “V-Bottom” at the last low, which led to the current correction. Previously, the price has faced a support at 1.4052. In the short term the market is likely going to taste a support at 1.4042. If a pullback from this level appears, then buyers will have an opportunity to achieve a resistance area between the level 1.4193 and the 34 Moving Average.

More:
https://fxbazooka.com/en/analitycs/show/8379

 

[riki143]

Forex Analytics

EUR/USD: "harami" are on the both sides
25 March 2016
Galina Svetlova

There's one more “Three-Line Strike” pattern at the local low, so the market is likely going to decline towards the nearest “Window”. As we can see on the Daily chart, we’ve got a “Harami” and a “Three Black Crows” at the last high. The last candles are bearish, but considering their quite big lower shadows it’s likely to see a local upward correction.

The pair has been falling down under the Moving Average lines. The last candle patterns are various, so currently we’ve got a flat. It’s likely that the price is going to taste the Moving Average lines once again. If it brings one more pullback and any kind of bearish pattern, then the lower “Window” will act as a main support.

More:
https://fxbazooka.com/en/analitycs/show/8382

 

[riki143]

Forex Analytics

EUR/GBP: sell target - 0.7800
25 March 2016
By: Dmitriy Chernovolov

-EUR/GBP reversed from resistance zone
-Next sell target - 0.7800

EUR/GBP recently reversed down from the resistance zone lying between the pivotal resistance level 0.7920 (which reversed the previous impulse waves ① and (1), as can be seen from the daily EUR/GBP chart below) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the active intermediate impulse wave (3), which belongs to the primary upward impulse ③ from the start of this month.

Given the strength of the resistance level 0.7920 and the overbought reading on the daily Stochastic indicator - EUR/GBP can be expected to correct down from the current levels toward the next sell target at the support level 0.7800.

More:
https://fxbazooka.com/en/analitycs/show/8383

 

[riki143]

Forex Analytics

EUR/USD: "pennant" has become bigger
28 March 2016
Sergey Logachev

There’s a flat along a support line at 1.1156. It’s likely that the market is going to reach a support area between the 89 Moving Average and the level at 1.1079. If we see a pullback from this area, then bulls will have an opportunity to achieve a resistance area between the 55 & 34 Moving Average lines.

We've got a flat in progress under the Moving Average lines. There's a possible “Pennant” pattern, so its lower side is likely going to be broken soon. If a pullback from a support at 1.1079 appears, then the pair can start an upward movement towards a resistance at 1.1158.

More:
https://fxbazooka.com/en/analitycs/show/8399

 

[riki143]

Forex Analytics

GBP/USD: support is waiting
28 March 2016
Sergey Logachev

The pair has been moving in a range along a support at 1.4117. It's likely to see the market lower in the short term. In case of a possible pullback from a support at 1.4042, the price will have a chance to taste a resistance at 1.4193.

There's a probable “Pennant” on the one-hour chart, so the price is likely going to break its lower side. If bears be stopped on a support line at 1.4042, then bulls will likely try to reach a resistance area between the levels 1.4117 – 1.4155.

More:
https://fxbazooka.com/en/analitycs/show/8405

 

[riki143]

Forex Analytics

EUR/USD: "window" acted as a strong support
28 March 2016
Galina Svetlova

There's a “Tweezers” pattern at the last low, which has been formed above the nearest “Window” area. So, it’s likely that the price is going to reach the upper “Window”. If we see a pullback from it, then bears will have a chance to return to the market. As we can see on the Daily chart, after a “Harami” and a “Three Black Crows” have been formed, we’ve got series of bearish candles. Despite of there isn’t any reversal pattern, a possibility of local correction is still on the table.

We’ve got a flat above the lower “Window”. There’s a “Engulfing Bullish” at the local low, which has been confirmed by the following “Three Methods” pattern. In the short term the market is likely going to taste the “Window” once again and try to achieve the nearest resistance afterwards.

More:
https://fxbazooka.com/en/analitycs/show/8408

 

[riki143]

Forex Analytics

EUR/JPY: buy target - 127.30
28 March 2016
By: Dmitriy Chernovolov

-EUR/JPY rising inside minor corrective wave 2
-Next buy target - 127.30

EUR/JPY continues to rise inside the minor corrective wave 2 – which started earlier – when the price reversed up from the support zone lying between the support level 125.00 and the 50% Fibonacci correction of the previous sharp ABC correction (4) from the end of February. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer Doji – which started the active minor corrective wave 2.

EUR/JPY is likely to rise further in the active minor correction 2 toward the next buy target at the resistance level 127.30 (which stopped the previous intermediate correction (4)). Strong support remains at 125.00.

More:
https://fxbazooka.com/en/analitycs/show/8409

 

[riki143]

Forex Analytics

Forex trading plan for March 29
28 March 2016
By Elizabeth Belugina

Last week US dollar corrected to the upside. Growth in the US core personal consumption expenditures price (PCE) index slowed down from 0.3% in January to 0.1% in February, data showed on Monday. Weak data reduce the odds that the Federal Reserve will increase rates soon and is negative for the US dollar. On Tuesday the US will release CB consumer confidence figures at 14:00 GMT. The Fed’s Chairwoman Janet Yellen will speak at 15:30 GMT.

European markets will reopen on Tuesday after the Easter holidays. EUR/USD has support at 1.1145 and may recover to 1.1220 in the absence of important data from the euro area. Next resistance is at 1.1240 and 1.1260. GBP/USD is trying to recover last week’s decline. Above 1.4285 it will be able to recover to 1.4350. Nothing in the UK economic calendar on Tuesday. EUR/GBP looks vulnerable for a decline to 0.7800. USD/JPY has been rising for 7 days in a row and is now vulnerable for correction to 113.00/112.50. Japan will release retail sales data, the forecast is optimistic.

Commodity currencies were supported by higher oil prices. NZD/USD made the biggest gains on Monday with potential to form daily bullish engulfing and rise to 0.6775. AUD/USD may rise to 0.7600.

More:
https://fxbazooka.com/en/analitycs/show/8412

 

[riki143]

Forex Analytics

EUR/USD: "double bottom" led to the correction
29 March 2016
Sergey Logachev

There was a flat, which finally was ended by the bullish rally towards a resistance at 1.1217. Previously, a reversal “Double Bottom” pattern has been formed. It’s likely to see the market lower in the short term. The target support is an area between the 34 Moving Average and the level at 1.1156. If a pullback appears somewhere from here, then we will have an opportunity to see a rise towards a resistance area at 1.1245 – 1.1273.

As we can see on the one-hour chart, the last “Pennant” was finally ended up by the upward movement. The price faced a resistance at 1.1217, which led to the current decline. It’s likely that the market is going to reach a support at 1.1157. If bears be stopped here, then bulls will probably try to achieve a resistance area at 1.1217 – 1.1237.

More:
https://fxbazooka.com/en/analitycs/show/8417

 

[riki143]

Forex Analytics

GBP/USD: bulls stopped by the resistance
29 March 2016
Sergey Logachev

The last flat has been ended by the bullish rally. Finally, buyers faced a resistance at 1.4282, which brought a “V-Top” pattern and led to the current decline. It’s likely that the pair is going to reach a support area between the 34 Moving Average and the level 1.4182. If we see a pullback, then a rise becomes possible, so we should keep an eye on a support area at 1.4305 – 1.4343.

We’ve got a “Pennant”, which was ended yesterday. Bulls faced a resistance at 1.4282, so a “Double Top” pattern was delivered. It’s likely that the price is going to reach a support area at 1.4193 – 1.4182, but if a pullback appears afterwards, then bulls will have a chance to achieve a resistance area at 1.4305 – 1.4343.

More:
https://fxbazooka.com/en/analitycs/show/8418

 

[riki143]

Forex Analytics

AUD/NZD: sell target - 1.1100
29 March 2016
By: Dmitriy Chernovolov

-AUD/NZD reversed from pivotal resistance level 1.1300
-Next sell target - 1.1100

AUD/NZD continues to fall after the price earlier reversed down sharply from the resistance zone surrounding the pivotal resistance level 1.1300 (which has been reversing the price from June of last year, as can be seen from the daily AUD/NZD chart below). The last two downward reversals from this resistance level created the two consecutive Japanese candlesticks reversal patterns – Bearish Engulfing and Dark Cloud Cover.

With the clear bearish divergence visible on the daily RSI indicator - AUD/NZD can be expected to fall further from the current levels toward the next sell target at the pivotal support level 1.1100 (former resistance level which stopped the minor impulse wave 1 in November).

More:
https://fxbazooka.com/en/analitycs/show/8424

 

[riki143]

Forex Analytics

CHF/JPY: buy target – 117.50
29 March 2016
By: Dmitriy Chernovolov

-CHF/JPY broke resistance zone
-Next buy target – 117.50

CHF/JPY continues to rise after the price earlier broke through the resistance zone lying at the intersection of the pivotal resistance level 116.00 (which stopped the previous minor (a)-wave earlier this month, as can be seen below) and the 38.2% Fibonacci correction of the previous downward impulse wave from the end of December. The breakout of this resistance zone accelerated the active (c)-wave of the minor ABC correction 4 from the start of this month.

CHF/JPY is likely to rise in the active minor (c)-wave toward the next buy target at the resistance level 117.50 (lying at the intersection of the daily down channel from 2015 and the 50% Fibonacci correction of the aforementioned downward impulse from December).

More:
https://fxbazooka.com/en/analitycs/show/8426

 

[riki143]

Forex Analytics

EUR/USD: bears faced a "harami"
29 March 2016
Galina Svetlova

The price finally got a support on the nearest “Window”, which led to form a “Tweezers” pattern afterwards. There’s a “Shooting Star” at the last high, so the market is likely going to be lower. As we can see on the Daily chart, here’s an “Engulfing Bullish” pattern, so the local upward correction has a reason to be continued.

The pair reached a support by the “Window” and tasted the upper resistance afterwards, so now the market backed to the range. We’ve got a “Harami” at the local high and the following “Three Method” pattern, which confirms the possibility of further declining. It’s likely that the price is going to reach the nearest “Window” once again.

More:
https://fxbazooka.com/en/analitycs/show/8427

 

[riki143]

Forex Analytics

USD/JPY: more bullish pressure
29 March 2016
Galina Svetlova

The bullish movement is still the main direction. Moreover, we’ve got a couple of “Three Methods” patterns, so in the short term the market is likely going to be higher towards the nearest resistance line. As we can see on the Daily chart, there isn’t any reversal pattern so far, which gives bulls a path to form a white candle today.

The price has been rising last days. There’s a “Three Methods” pattern at the last high, but if the pair be stopped on the nearest resistance, then it’ll be a chance to see a local correction. If any of the Moving Averages acts as a support, then bulls can resume their rally.

More:
https://fxbazooka.com/en/analitycs/show/8428

 

[riki143]

Forex Analytics

EUR/USD: bulls faced the "Triple Top"
30 March 2016
Sergey Logachev

The pair has been rising since a “Double Bottom” pattern arrived at the last low. The price found a resistance in a range between the levels 1.1273 and 1.1341. It’s likely that the market is going to reach the nearest support line. If a pullback appears, then bulls will probably try to achieve a resistance area at 1.1341 – 1.1376.

As we can see on the one-hour chart, the last “Flag” was finally ended by the extremely fast bullish rally. Buyers faced a resistance at 1.1306, which led to the current local flat. It’s likely that the pair is going to test a support area at 1.1284 – 1.1259, but if this possible correction be stopped somewhere in here, then bulls will likely open a new stage on their rally. If so, a resistance area at 1.1336 – 1.1341 is going to be achieved soon.

More:
https://fxbazooka.com/en/analitycs/show/8433

 

[riki143]

Forex Analytics

AUD/USD: buy target - 0.7800
30 March 2016
By: Dmitriy Chernovolov

-AUD/USD approached buy target 0.7700
-Next buy target - 0.7800

AUD/USD has been rising in the last few trading sessions inside the (b)-wave of the minor C-wave, which belongs to the intermediate ABC correction (2) from the middle of January. The active (b)-wave started earlier – when the price reversed up from the support zone lying between the support level 0.7500 and the 38.2% Fibonacci correction of the previous sharp upward impulse wave from the end of February.

AUD/USD today approached the resistance level 0.7700 (previous buy target set in our earlier forecast for this currency pair). If the price breaks above 0.7700 - AUD/USD can then rise to the next buy target at the next resistance level 0.7800 (target price for the completion of the active C-wave).

More:
https://fxbazooka.com/en/analitycs/show/8436