Market news and trade recommendations by FBS

[riki143]

Key option levels for Tuesday, April 11th
4/11/2017

If you have any questions or requests fill out the feedback form.

EUR/USD

Main trend Short-term period Medium-term period
Bullish Neutral
Changes in the open interest - 4 226 ? + 3 136 ?
Closest resistance levels 1.0593; 1.0623; 1.0663-75; 1.0708
Closest support levels 1.0569; 1.0534; 1.0513; 1.0489
Trading recommendations
Baseline scenario Long EUR/USD above 1.0593 (or from 1.0569), with target points at 1.0623 and 1.0663
Alternative scenario Moving below 1.0569 can be considered as a signal to Sell the pair, with target at 1.0534 and 1.0513


GBP/USD

ain trend Short-term period Medium-term period
Bearish Bearish
Changes in the open interest - 419 ? + 213 ?
Closest resistance levels 1.2447; 1.2467; 1.2490/1.2505; 1.2547
Closest support levels 1.2398; 1.2365; 1.2342; 1.2315
Trading recommendations
Baseline scenario Short GBP/USD below 1.2398 (or from 1.2447), with target points at 1.2365 and 1.2342
Alternative scenario Moving above 1.2447 can be considered as a signal to Buy the pair, with target at 1.2467 and 1.2490


USD/CAD

Main trend Short-term period Medium-term period
Neutral Bullish
Changes in the open interest -14 ? + 321 ?
Closest resistance levels 1.3326-35; 1.3376; 1.3419; 1.3475
Closest support levels 1.3289; 1.3266; 1.3235; 1.3187
Trading recommendations
Baseline scenario OUT OF THE MARKET
Alternative scenario

More:
https://new.fxbazooka.com/analytics/13082

 

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[riki143]

USD/JPY: bears sweep away all obstacles
4/12/2017

On the USD/JPY daily chart, the quotes moved beyond the consolidation range of 110.2-111.55. The realization of the AB = CD continues. Its target is located at 200% level of the BC wave (107.5). To hit this level, the bears will have to break the support at 108.8. The immediate resistance can be found at 110.2.

On the USD/JPY hourly chart, quotes are moving within the downward trading channel. The bears remain their control over the pair. The AB = CD pattern with 224% target of the BC wave is still relevant. It corresponds to the level of 107.5.

Recommendations: hold shorts (SELL 110,25 SL 110,8 TP1 109,6 TP2 108,8).

More:
https://new.fxbazooka.com/analytics/13083

 

[riki143]

AUD/USD: bears are playing with Crab
4/12/2017

On the AUD/USD daily chart, an intermediate 113% target in the "Crab" pattern has been fulfilled. There is a continuation of the downward movement. The targets are located near 0.7415 and 0.731. Bulls can get their own back only in case of a successful test of the resistance at 0.7525.

On the AUD/USD hourly chart, the "Widening Wedge" pattern can be formed. A necessary condition for its formation is a successful test of the 1-3 wave (0.7515). If it is tested successfully, focus on the point 5. The pullbacks from 23.6%, 38.2%, and 50% levels and from the 4-5 wave can be used for opening long positions. The nearest resistance levels can be found near 0.7555 and 0.7585.

More:
https://new.fxbazooka.com/analytics/13084

 

[riki143]

Key option levels for Wednesday, April 12th
4/12/2017

If you have any questions or requests fill out the feedback form.

EUR/USD

Main trend Short-term period Medium-term period
Bearish Neutral
Changes in the open interest + 62 621 ? + 399 662 ?
Closest resistance levels 1.0636; 1.0678-89; 1.0721; 1.0757
Closest support levels 1.0602; 1.0576; 1.0540; 1.0518
Trading recommendations
Baseline scenario Short EUR/USD below 1.0602 (or from 1.0636), with target points at 1.0576 and 1.0540
Alternative scenario Moving above 1.0636 can be considered as a signal to Buy the pair, with target at 1.0678 and 1.0721


USD/CAD

Main trend Short-term period Medium-term period
Neutral Bullish
Changes in the open interest + 270 ? + 87 ?
Closest resistance levels 1.3333; 1.3378; 1.3421; 1.3477
Closest support levels 1.3289; 1.3266; 1.3233; 1.3187
Trading recommendations
Baseline scenario Long USD/CAD above 1.3333 (or from 1.3289), with the target points at 1.3378 and 1.3421
Alternative scenario Moving below 1.3289 can be considered as a signal to Sell the pair, with target at 1.3266 and 1.3233

More:
https://new.fxbazooka.com/analytics/13086

 

[riki143]

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[riki143]

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[riki143]

Gold: bulls are working hard
4/13/2017

On the daily chart of gold, the bulls updated February high and tested the diagonal resistance in the form of the upper boundary of the downward trading channel. As a result, the AB = CD pattern was activated. Its targets are located near $1286 (127.2%), $1312 (161.8%), $1340 (200%) and $1357(224%) per ounce.

On the hourly chart of gold, quotes are moving within the upward trading channel. The bulls remain their control over the pair. In this situation, you might consider buying on the rollbacks to the support or on the formation of longs at the break of resistance.

Recommendations:

BUY $1278 SL $1263 TP1 $1312 TP2 $1340,

BUY $1270 SL $1255 TP $1312.

More:
https://new.fxbazooka.com/analytics/13087

 

[riki143]

USD/CAD: shakeout-fakeout pattern has been realized
4/13/2017

On the USD/CAD chart, a successful attack on the diagonal support in the form of the lower border of the upward trading channel activated the Gartley pattern with a target 78.6%. The convergence zone is located near 1.31. The nearest important resistance can be found at 1.3305.

On the USD/CAD hourly chart, the "Shakeout-fakeout" pattern has been realized. Quotes fell below the lower boundary of the "Splash and ledge" pattern on the basis of 1-2-3. This tells us about the weakness of the bears and allows us to bet on the realization of the Gartley pattern.

Recommendation: SELL 1,328 SL 1,3335 TP 1,31.

More:
https://new.fxbazooka.com/analytics/13088

 

[riki143]

Key option levels for Thursday, April 13th
4/13/2017

If you have any questions or requests fill out the feedback form.

EUR/USD

Main trend Short-term period Medium-term period
Bearish Neutral
Changes in the open interest + 33 346 ↑ + 436 130 ↑
Closest resistance levels 1.0682; 1.0715; 1.0767; 1.0803
Closest support levels 1.0620; 1.0586; 1.0561; 1.0525
Trading recommendations
Baseline scenario Short EUR/USD from the current price or from 1.0682, with target points at 1.0620 and 1.0586
Alternative scenario Moving above 1.0682 can be considered as a signal to Buy the pair, with target at 1.0715 and 1.0767


USD/JPY

Main trend Short-term period Medium-term period
Neutral Bearish
Changes in the open interest + 287 ↑ + 880 ↑
Closest resistance levels 109.43; 109.93; 110.39; 110.62
Closest support levels 108.97/74 (Highly important); 108.47; 108.14; 107.78
Trading recommendations
Baseline scenario (High risk of reversal) Long USD/JPY above 108.97, with target points at 109.43 and 109.93
Alternative scenario Moving below 108.97 can be considered as a signal to Sell the pair, with target at 108.47 and 108.14


USD/CAD

Main trend Short-term period Medium-term period
Neutral Bullish
Changes in the open interest + 9 ↑ + 29 ↑
Closest resistance levels 1.3266; 1.3324; 1.3367; 1.3408
Closest support levels 1.3236; 1.3189; 1.3129; 1.3058
Trading recommendations
Baseline scenario OUT OF THE MARKET
Alternative scenario OUT OF THE MARKET

More:
https://new.fxbazooka.com/analytics/13089

 

[riki143]

EUR/USD: bears are preparing for breakout
4/14/2017

On the EUR/USD daily chart, quotes returned to the border of the upward trading channel. There is the diagonal support. If the bears manage to test it, the update of the April low will open the way towards 1.046 and 1.0405. To regain control over the pair, the bulls will need to raise the euro above 1.0695.

On the EUR/USD hourly chart, there was an unsuccessful return of quotes to the consolidation range of 1.0635-1.0685. Bulls showed their weakness having failed to consolidate there. As a result, a triangle was formed. A breakout of its lower border near 1.0595 will increase the risk of continuation of the downward movement.

Recommendation: SELL 1,0595 SL 1,065 TP 1,046.

More:
https://new.fxbazooka.com/analytics/13090

 

[riki143]

NZD/USD: kiwi came to the Rubicon
4/14/2017

On the NZD/USD daily chart, quotes are moving within the downward trading channel. A break of its upper border can lead to the correction towards 0.707 and higher. In contrast, if the "bears" manage to keep the New Zealand dollar below the psychologically important level of 0.7, it might lead to the continuation of the downward movement and implementation of the 113% and 161.8% targets in the Shark and AB = CD patterns.

On the NZD/USD hourly chart, the further downward movement will depend on whether sellers manage to return quotes to within the borders of the downward trading channel. The drop of the pair below 0.697 can lead to the restoration of the downward trend.

More:

https://new.fxbazooka.com/analytics/13091

 

[riki143]

Key option levels for Friday, April 14th
4/14/2017

If you have any questions or requests fill out the feedback form.

EUR/USD

Main trend Short-term period Medium-term period
Neutral Neutral
Changes in the open interest - 344 590 ? - 470 131 ?
Closest resistance levels 1.0646; 1.0703; 1.0735; 1.0785
Closest support levels 1.0611; 1.0583; 1.0544; 1.0521
Trading recommendations
Baseline scenario Short EUR/USD below 1.0611 or from 1.0646, with target points at 1.0583 and 1.0544
Alternative scenario Moving above 1.0646 can be considered as a signal to Buy the pair, with target at 1.0703 and 1.0735

USD/JPY

Main trend Short-term period Medium-term period
Bullish Bearish
Changes in the open interest + 2 816 ? + 571 ?
Closest resistance levels 109.41; 109.97; 110.25; 110.58
Closest support levels 108.53; 108.14; 107.87; 107.56
Trading recommendations
Baseline scenario Long USD/JPY from the current price (108.85 at the time of publication) or from 108.53, with target points at 109.41 and 109.97
Alternative scenario Moving below 108.53 can be considered as a signal to Sell the pair, with target at 108.14 and 107.87

AUD/USD

Main trend Short-term period Medium-term period
Bearish Bearish
Changes in the open interest - 165 ? + 30 ?
Closest resistance levels 0.7611; 0.7651; 0.7681; 0.7717
Closest support levels 0.7557; 0.7523; 0.7496; 0.7463
Trading recommendations
Baseline scenario Short AUD/USD below 0.7557 (or from 0.7611), with the target points at 0.7523 and 0.7496
Alternative scenario Moving above 0.7611 can be considered as a signal to Buy the pair, with target at 0.7651 and 0.7681

More:
https://new.fxbazooka.com/analytics/13092

 

[riki143]

GBP/USD: pound is a bit cramped on the ledge
4/17/2017

On the GBP/USD daily chart, the realization of "Splash and ledge" pattern on the basis of 1-2-3 continues. If quotes go beyond the consolidation range 1.237-1.258 it will be a signal for the opening positions. Resistances at 1.256-1.2575 corresponds to the upper boundary of the triangle. The breakout will increase the risk of continuation of the rally towards 1.273 and 1.277.

On the GBP/USD hourly chart, an expanding wedge pattern can be formed. For this to happen, bears need to return quotes to 1.236. A successful test of the support at 1.2495 can lead to the development of consolidation followed by the move of quotes to downsides.

Recommendations:

SELL 1,2495 SL 1,255 TP 1,236,

BUY 1,2575 SL 1,252 TP 1,273.

More:
https://new.fxbazooka.com/analytics/13093

 

[riki143]

EUR/JPY: euro's precipitous downfall
4/17/2017

On the EUR/JPY daily chart, quotes fell to the lowest level since November 2016. The previously set targets on short positions have been fulfilled. A successful test of 114.56 will increase the odds of fulfilling the target 88.6% in the Bat pattern. It is located near 113.3.

On the EUR/JPY hourly chart, quotes are moving within the downward trading channel. The bears remain their control over the pair. In this situation, the best trading strategies would be selling on growth or opening short positions on the breakouts of supports. The nearest resistances can be found at 115.5, 115.7 and 116.

More:
https://new.fxbazooka.com/analytics/13094

 

[riki143]

MORNING BRIEF FOR APRIL 17
06:24 17.04.2017

Sleeping Forex – the Land of Nod…The market was too sleepy to start this week with major trading centers still closed for a holiday on Monday. Markets are braced for more geopolitical tensions over North Korea, after its failure to launch a ballistic missile on Sunday. US Vice President Mike Pence fasten his eyes upon the demilitarized border between North and South Korea, reiterating that the U.S. "era of strategic patience" with Kim-Jong-un was over.
The major focus of Tokyo session was Chinese economic data. China’s economy grew 6.9% in the first quarter of 2017, a shtik above consensus forecast of 6.8%, supported by a government generous infrastructure spending spree and a frenzied housing market. Overall, a raft of the data failed to produce a notable effect as investors were somewhat cognizant of an upbeat print following a recent range of positive figures from China.
The yen extended its gains amid the escalation in geopolitical tensions. USD/JPY tumbled below 108.35 in the early hours of today’s session. The odds that quotes slide lower towards 108.00, 107.50 are quite high as the bearish phase is still intact.
The euro edged down to 1.0620 on the session. Ahead of the first round of French presidential elections scheduled for April 23, Le Pen is slowly fading with the rest of the front-runner generally unchanged. Macron, Fillon, and Melenchon are snapping on her heels striving to chase Marin out of her place as a leader in the pre-election race. EUR/USD has moved into consolidation phase trading between 1.0555 and 1.0700 levels.
Aussie spiked to 0.75990 on the strong headline in Chinese data. China’s demand for Australia’s exported industrial commodities such as iron ore was truly strong in recent months. The current rebound is to extend higher to 0.7615, 0.7630.
GBP/USD rose slightly above 1.2530. The British pound has scope to extend its gain to at least 1.2615.
USD/CAD slipped a few point in the Asian session thanks to weakening USD. Oil prices weren’t supportive. Brent oil futures fell to $55.40 from $55.80 on Monday on signs the expanding US oil production industry, undermining OPEC efforts to support prices and reduce oil glut.
The Turkish lira jumped to 3.6800 against the greenback after President Tayyip Erdogan snatched a victory in a referendum on Sunday that was organized in order to replace Turkey’s parliamentary system with the presidency and abolish the post of prime minister.

More:
https://fbs.com/analytics/articles/morning-april17

 

[riki143]

GBP/USD: MOVING AVERAGE WAITING FOR BEARS
06:34 17.04.2017

The price faced a support at 1.2506, so there’s a consolidation, which is taking place on the four-hours chart. Therefore, the pair is likely going to test the 34 Moving Average, which could be a departure point for an upward correction towards a resistance at 1.2595 – 1.2614.

The 34 Moving Average has acted as a support, so the price is consolidating. In this case, bears are likely going to reach the 55 Moving Average during the day. If a pullback from this line be on the table, there’ll be an opportunity to have a new local high. The main bullish target is a resistance at 1.2573 – 1.2595.

More:
https://fbs.com/analytics/articles/gbpusd_technical_april_17

 

[riki143]

EUR/USD: "DOUBLE TOP" STILL PUSHING PRICE LOWER
06:29 17.04.2017

The main trend is still bearish. The price faced a support at 1.0600, so there’s a developing upward correction. Nevertheless, the market is likely going to reach the next support at 1.0571 in the short term. If a pullback from this level happens, we should keep an eye on the nearest resistance at 1.0655 as an intraday bullish target.

The price is testing the downtrend, which is likely going to be broken in the coming hours. So, the main intraday target is a support at 1.0588 – 1.0578. If we see a pullback from these levels, bulls will probably try to achieve the closest resistance at 1.0594 – 1.0655.

More:
https://fbs.com/analytics/articles/eurusd_technical_april_17

 

[riki143]

EUR/JPY: EURO'S PRECIPITOUS DOWNFALL
06:49 17.04.2017

On the EUR/JPY daily chart, quotes fell to the lowest level since November 2016. The previously set targets on short positions have been fulfilled. A successful test of 114.56 will increase the odds of fulfilling the target 88.6% in the Bat pattern. It is located near 113.3.

On the EUR/JPY hourly chart, quotes are moving within the downward trading channel. The bears remain their control over the pair. In this situation, the best trading strategies would be selling on growth or opening short positions on the breakouts of supports. The nearest resistances can be found at 115.5, 115.7 and 116.

More:
https://fbs.com/analytics/articles/precipitous-downfall

 

[riki143]

GBP/USD: POUND IS A BIT CRAMPED ON THE LEDGE
06:52 17.04.2017

On the GBP/USD daily chart, the realization of "Splash and ledge" pattern on the basis of 1-2-3 continues. If quotes go beyond the consolidation range 1.237-1.258 it will be a signal for the opening positions. Resistances at 1.256-1.2575 corresponds to the upper boundary of the triangle. The breakout will increase the risk of continuation of the rally towards 1.273 and 1.277.

On the GBP/USD hourly chart, an expanding wedge pattern can be formed. For this to happen, bears need to return quotes to 1.236. A successful test of the support at 1.2495 can lead to the development of consolidation followed by the move of quotes to downsides.

Recommendations:
SELL 1,2495 SL 1,255 TP 1,236,
BUY 1,2575 SL 1,252 TP 1,273.

More:
https://fbs.com/analytics/articles/a-bit-cramped-on-the