Market analysis and trade recommendations by FBS

[riki143]

EUR/USD: bears faced support by "Window"
8/8/2016

There’s a bullish “Hammer” at the local low, but its confirmation has been canceled by the last bearish “Harami”. Therefore, the price is likely going to test the 89 Moving Average once again. As we can see on the Daily chart, here’s a possible “Three Black Crows” pattern, so right after a local upward correction, bears will probably try to deliver a new low.

We’ve got a strong support by the lower “Window”. Also, there’re a “Harami” and a “Three White Soldiers”, so the market is likely going to test the middle of the last huge black candle once again.

More:
https://new.fxbazooka.com/analytics/9968

 

[riki143]

GBP/AUD falling inside minor impulse wave 5
8/8/2016

GBP/AUD falling inside minor impulse wave 5 Next sell targets - 1.7000 and 1.6750
GBP/AUD continues to fall inside the minor impulse wave 5 – which started previously – when the pair reversed down from the resistance zone lying at the intersection of the lower trendline of the recently broken wide weekly down channel from 2015 and the resistance level 1.7750. The active minor impulse wave belongs to the sharp intermediate impulse wave (C) from the end of May.

GBP/AUD is expected to fall further to the next sell target at the round support level 1.7000 – the breakout of which can lead to further losses toward 1.6750.

More:
https://new.fxbazooka.com/analytics/9969

 

[riki143]

AUD/CAD reached buy target 1.0000
8/8/2016

AUD/CAD reached buy target 1.0000
Next buy target - 1.0090
AUD/CAD recently broke sharply above the round resistance level 1.0000 (which was set in our earlier forecast as the likely target for the upward movement of this currency pair). The breakout of this resistance level accelerated the active minor impulse wave (iii), which started earlier – when the pair reversed up from the upper trendline of the recently broken daily down channel from December (acting as support now after it was broken).

AUD/CAD is expected to rise further in the active impulse waves (iii), 3 and (3) toward the next buy target at the resistance level 1.0090 (top of the previous minor correction 2 from January).

More:
https://new.fxbazooka.com/analytics/9970

 

[riki143]

USD/JPY: buyers broke the "Window"
8/8/2016

We’ve got a “Harami” and an “Engulfing” at the local low. Also, there’s a new “Window”, but we haven’t got any reversal pattern, which makes possible an achievement of the 34 Moving Average in the short term. As we can see on the Daily chart, the last “Harami” has been confirmed, bulls will probably try to deliver an upward correction.

The price has been rising since a “Doji” arrived at the local low. Moreover, bulls have broken the “Window”, so there’s an open door for testing of the 144 Moving Average.

More:
https://new.fxbazooka.com/analytics/9971

 

[riki143]

GBP/USD & UK Manufacturing Production: A lower continuation across the board?
8/9/2016

Today at 08:30 GMT will be released the UK manufacturing production, where the markets are expecting a rise from -0.5% to 0.0% in the June's reading. During the last months, results for this indicator have been showing a mixed pattern, with the recent two data posting numbers above the expectations, while for April and May, the data was negative. Remind that the BoE recently launched its new easing program and Sterling could be weighted in coming weeks due to the UK economic's slowdown.

Our technical picture for GBP/USD at H4 chart, there is a triangle pattern still in the place and the overall trend is bearish. A below-than-expected reading could send the pair to lower levels and possibly, it can break the bullish trend line from that triangle. The mid-term target to the downside is placed around the 1.2869 level, while to the upside, the zone of 1.3143 is the next objective for bulls.

More:
https://new.fxbazooka.com/analytics/9972

 

[riki143]

EUR/USD: bears are preparing an attack
8/9/2016

On the daily chart EUR/USD formed a descending trend channel. As long as the pair stays below 1.1235-1.1259, the market's sentiment will remains bearish. Traders should sell either on growth or on breaks of support. The nearest support is at 1.1072. Look for resistance near 1.1175.

On H1 EUR/USD is consolidating within the 1.1072-1.1105 range. The break below its lower border will lead to a decline to 1.1051 and 1.0967. Successful test of resistance will activate 5-0 pattern. The pair's increase to 1.1141 (50% Fibo of the last descending wave) and to 1.1163-1.117 should be used to form short positions.

[IGM]https://new.fxbazooka.com/img/articles/9973/Screenshot_2016_08_09_07_18_35.png[/IGM]

More:
https://new.fxbazooka.com/analytics/9973

 

[riki143]

USD/JPY: correction won't affect yen
8/9/2016

On the daily USD/JPY chart there's correction to the downtrend. The pair reached resistance at 102.69. A break of this level will open the way up to 103.93 and 104.38, recoil down from the resistance will lead to consolidation in the 100.69-102.69 area.

On H1 USD/JPY reached 224% target of AB=CD pattern. Successful test of the upper border of the 100.83-101.82 range started a correction. The sentiment remains bearish, so sell on the increases to 103.27 (38.2% Fibonacci of the last descending wave), 103.93-104.08 (50%) and 104.89 (61.8%). Increase above 106 will make the risks of change in trend higher.

More:
https://new.fxbazooka.com/analytics/9974

 

[riki143]

EUR/USD: euro continues its consolidation under the cloud
8/9/2016

Technical levels: support – 1.1070, 1.1040; resistance – 1.1100, 1.1140, 1.1170.

Trade recommendations:

1. Sell — 1.1060; SL — 1.1080; TP1 — 1.1000; TP2 – 1.0980.

Reason: bullish Ichimoku Cloud, falling down Senkou Span A; dead cross of Tenkan-sen and Kijun-sen.

More:
https://new.fxbazooka.com/analytics/9977

 

[riki143]

AUD/USD: the heavy growth of Aussie
8/9/2016

Technical levels: support – 0.7620, 0.7590; resistance – 0.7650.

Trade recommendations:

1. Buy — 0.7620; SL — 0.7600; TP1 — 0.7680; TP2 — 0.7750.

Reason: a bullish mood of Ichimoku Indicator; a golden cross of Tenkan-sen and Kijun-sen.

More:
https://new.fxbazooka.com/analytics/9978

 

[riki143]

USD/JPY: testing the Clouds lower border
8/9/2016

Technical levels: support – 101.75, 101.20; resistance – 102.30/40.

Trade recommendations:

1. Sell — 102.30; SL — 102.50; TP1 — 101.75; TP2 — 101.20.

Reason: cancelled golden cross formed by Tenkan-sen and Kijun-sen; bearish Ichimoku Cloud; strong resistance formed by Senkou Span A.

More:
https://new.fxbazooka.com/analytics/9979

 

[riki143]

Key option levels for Tuesday, August 9th
8/9/2016

EUR/USD

Main trend Short-term period Medium-term period
Neutral Bearish
Changes in the open interest + 17 720 ? + 1 316 ?
Closest resistance levels 1.1156; 1.1174; 1.1196; 1.1222
Closest support levels 1.1047; 1.1029; 1.1005; 1.0977
Trading recommendations
Baseline scenario Short EUR/USD below 1.1047, with target points at 1.1029 and 1.1005
Alternative scenario Moving above 1.1156 can be considered as a signal to buy the pair, with target at 1.1174 and 1.1196

GBP/USD

Main trend Short-term period Medium-term period
Bearish Bearish
Changes in the open interest + 3 037 ? + 2 906 ?
Closest resistance levels 1.3162; 1.3211; 1.3273; 1.3346
Closest support levels 1.2936; 1.2912; 1.2885; 1.2856
Trading recommendations
Baseline scenario Sell GBP/USD below 1.2936, with target points at 1.2912 and 1.2885
Alternative scenario Moving above 1.3162 can be considered as a signal to buy the pair, with target at 1.3211 and 1.3273


USD/JPY

Main trend Short-term period Medium-term period
Bullish Neutral
Changes in the open interest + 3 283 ? + 1 249 ?
Closest resistance levels 102.88; 103.18; 103.38; 103.63
Closest support levels 102.01; 101.53; 101.29; 101.01
Trading recommendations
Baseline scenario Long USD/JPY above 102.88, with the target points at 103.18 and 103.38
Alternative scenario Moving below 102.01 can be considered as a signal to sell the pair, with target at 101.53 and 101.29


USD/CAD

Main trend Short-term period Medium-term period
Neutral Bullish
Changes in the open interest - 871 ? + 1 686 ?
Closest resistance levels 1.3203; 1.3224; 1.3254; 1.3294
Closest support levels 1.3135; 1.3098; 1.3068; 1.3031
Trading recommendations
Baseline scenario Buy USD/CAD above 1.3203, with the target points at 1.3224 and 1.3254
Alternative scenario Moving below 1.3135 can be considered as a signal to sell the pair, with target at 1.3098 and 1.3068
EUR JPY GBP CAD

More:
https://new.fxbazooka.com/analytics/9980

 

[riki143]

EUR/USD: "V-Bottom" led to upward correction
8/9/2016

The price has been moving up and down under the Moving Averages. So, the market is likely going to get a resistance on the 89 Moving Average. If a pullback from this line happens, there’ll be an opportunity to have a decline towards a support at 1.1045 – 1.1023.

As we can see on the one-hour chart, there’s a “Flag” pattern, which points to a possible upward movement in the direction of the nearest resistance at 1.1120. However, if we see a pullback from this level, bears will probably try to achieve a support at 1.1032 -1.1023.

More:
https://new.fxbazooka.com/analytics/9984

 

[riki143]

GBP/USD: two "Pennants" in a row
8/9/2016

There’s a consolidation along a support at 1.3015. So, the price is likely going to reach a resistance at 1.3119 in the short term. Considering a possible pullback from this resistance, we should keep an eye on the next support at 1.2849 – 1.2795 as a bearish target.

The price faced a support at 1.2945, so we’ve got a “V-Bottom” pattern here, which led to the current flat. Therefore, bulls are likely going to reach a resistance at 1.3056 – 1.3071 shortly. At the same time, bears are strong enough to catch a support at 1.2945 – 1.2848 afterwards.

More:
https://new.fxbazooka.com/analytics/9985

More:
https://new.fxbazooka.com/analytics/9985

 

[riki143]

EUR/USD: wave [iii] is about to be continued
8/9/2016

The price has been declining since a pullback from 4/8 Murrey Math Level (P=200) happened, so we’ve got a downward impulse in wave . Also, the pair found a lodgement, which makes possible to have an extension in wave [iii]. Under this circumstances, the intraday target is -2/8 Murrey Math Level.

As we can see on the one-hour chart, wave (ii) has been formed under 4/8 Murrey Math Level. Therefore, bears are likely going to deliver wave (iii) in the short term. However, if bulls break 4/8 Murrey Math Level, there’ll be an opportunity to have another wave count with bigger wave 4.

More:
https://new.fxbazooka.com/analytics/9986

 

[riki143]

EUR/USD: strong support by "Window"
8/9/2016

There’s a strong support by the nearest “Window”, so we’ve got a “Hammer” and an “Engulfing”, but both patterns haven’t been confirmed yet. Therefore, bulls are likely going to deliver an upward correction in the short term. As we can see on the Daily chart, here’s an unconfirmed “High Wave” at the local low. In this case, there’s an opportunity to have a correction towards the middle of the last black candles.

We’ve got a consolidation, which brought a new support level. Also, there’re a “Harami” and a “Hammer”, so the market is likely going to rise in the direction of the nearest resistance line.

More:
https://new.fxbazooka.com/analytics/9987

 

[riki143]

USD/JPY: "Window" could act as a support
8/9/2016

There’s an “Engulfing” at the local high. Also, the last “Window” is still open, so the price is likely going to get a support on this “Window”. As we can see on the Daily chart, there’s a “Harami”, which has been confirmed enough. Therefore, bulls are probably going to deliver an upward correction.

The pair has been declining since a “Gravestone Doji” was formed at the last high. So, the market is likely going to test the nearest Moving Averages. If we see a pullback from these lines, there’ll be an opportunity to have another bullish rally.

More:
https://new.fxbazooka.com/analytics/9988

 

[riki143]

GBP/CAD reversed from resistance zone
8/9/2016

GBP/CAD reversed from resistance zone
Next sell target - 1.6750
GBP/CAD recently reversed down sharply from the resistance zone lying between the resistance level 1.7550, upper daily Bollinger Band and the 38.2% Fibonacci correction level of the previous sharp intermediate downward impulse (3) from June. The downward reversal from this resistance zone started the active intermediate impulse wave (5), which belongs to the primary impulse ③ from May.

GBP/CAD is expected to fall further toward the next sell target at the strong support level 1.6750 (which stopped the aforementioned impulse wave (3) in July).

More:
https://new.fxbazooka.com/analytics/9989

 

[riki143]

EUR/GBP rising inside minor impulse wave 5[/URL]
8/9/2016

EUR/GBP rising inside minor impulse wave 5
Next buy target - 0.8620
EUR/GBP continues to rise inside the minor impulse wave 5 - which started earlier – when the pair reversed up from the support zone lying between the support level 0.8300 and the 38.2% Fibonacci retracement of the previous sharp upward impulse 3 from the end of June. The active impulse wave 5 belongs to the intermediate impulse wave (3) from the end of May.

EUR/GBP is expected to rise further in the active impulse waves 5 and (3) toward the next buy target at the pivotal resistance level 0.8620 (which stopped the previous minor impulse wave 3 in June, as can be seen below).

More:
https://new.fxbazooka.com/analytics/9990

 

[riki143]

NZD/USD & RBNZ Interest Rate Decision: Consolidating below 0.7050 after the event?
8/10/2016

Today at 21:00 GMT will be released the RBNZ rate statement, together with the official interest rate decision that could see a cut from 2.25% to 2.00%. Markets are expecting that rate cut and that's why we've have been seeing very volatile moves on the Kiwi, as the uncertainty remains there. Also, traders will be closely watching for the monetary policy statement, due to be published at the same time.

The technical picture for NZD/USD at H4 chart is bullish on a general overview, as the pair remains trading above the 200 SMA. However, last week was quite bearish for the Kiwi and later it found support around the 0.7108 level. Also, during the last week, NZD/USD found resistance around the 78.6% retracement level, where a pullback happened. As the markets are expecting a rate cut, a decline to the 0.7050 level can happen, while a “hawkish” statement by RBNZ could send the pair to test the highs from last week.

More:
https://new.fxbazooka.com/analytics/9993

 

[riki143]

GBP/USD makes a "dead cat bounce"
8/10/2016

On the daily GBP/USD chart the bulls make a lot of efforts to return the pair to the borders of the medium-term consolidation range of 1.3070-1.3490. Failure at its upper border will give the lead back to the bears and increase the risks of decline to 1.29 and lower.

On H1 GBP/USD made an inversed "Shark" pattern. This will help the pair reach 113% target (1.311), although many will want to sell the pound at 38.2% (1.3115), 50% (1.3165) and 78.6% (1.3280) Fibonacci of the last descending wave. Traders should think about selling at the mentioned levels.

More:
https://new.fxbazooka.com/analytics/9994