Market news and trade recommendations by FBS

[riki143]

Forex Analytics

Ozzy is adjusting to the cloud
15 March 2016
Tatyana Norkina, analytic for company FBS

Yesterday the Australian dollar updated the annual maximum again. In the Asian session the currency pair AUD / USD rose to the level of 0.7590. Right after it sales came next, due to the local overbought. At the end of the day rates have gone under the support of the four-hour Tenkan and Kijun and, in all appearances, we expect a correction in the direction of the upper limit of the Ichimoku cloud.

Note that the gold cross formed by Tenkan-sen and Kijun-sen is still active. The Ichimoku cloud also expands upwards. Therefore, at the end of correction we are waiting for the resumption of the uptrend.

Technical Levels: Support - 0.7440/60; resistance - 0.7530.

Trading recommendations:
1. Buy — 0.7450; SL — 0.7430; TP1 — 0.7530; TP2 — 0.7600.

More:
https://fxbazooka.com/en/analitycs/show/8267

 

[riki143]

Forex Analytics

GBP/CAD: sell targets - 1.8800 and 1.8660
16 March 2016
By: Dmitriy Chernovolov

-GBP/CAD completed minor ABC correction 4
-Next sell targets - 1.8800 and 1.8660

GBP/CAD continues to fall after the earlier sharp downward reversal from the resistance zone lying at the intersection of the following resistance levels: the former support trendline of the wide weekly up channel from November of 2014 (acting as resistance now after it was broken by the previous minor impulse wave 3), resistance level 1.9200 and the 50% Fibonacci correction of the earlier downward impulse from February.

The downward reversal from the aforementioned resistance zone completed the previous minor ABC correction 4. GBP/CAD is likely to fall further toward the next sell targets at the support levels 1.8800 and 1.8660 (low of impulse 3).

More:
https://fxbazooka.com/en/analitycs/show/8281

 

[riki143]

Forex Analytics

GBP/USD: sell targets - 1.4000 and 1.3840
16 March 2016
By: Dmitriy Chernovolov

-GBP/USD falling inside intermediate impulse wave (5)
-Next sell targets - 1.4000 and 1.3840

GBP/USD recently reversed down from the resistance zone lying between the resistance level 1.4400 (which reversed the price at the end of February), the upper daily Bollinger Band, 38.2% Fibonacci correction of the previous sharp downward impulse from December. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Bearish Engulfing - completing the previous intermediate ABC correction (4) from last month.

GBP/USD is likely to fall further in the active intermediate impulse wave (5) toward the next sell target at the round support level 1.4000 – the breakout of which can lead to further losses toward 1.3840.

More:
https://fxbazooka.com/en/analitycs/show/8280

 

[riki143]

Forex Analytics

EUR/USD: bulls rip the "wedge" to shreds
17 March 2016
Sergey Logachev

The consolidation in a support zone at 1.1145 – 1.1032 was finally ended by the really fast upward movement yesterday, so we’ve got a new high. The price faced a resistance at 1.1245. It’s likely that a correction is going to a support area between the levels 1.1214 – 1.1178. If we see a pullback from this area, then bulls might try to reach a resistance area at 1.1273 – 1.1305.

The downward “Wedge” was broken yesterday. Bulls found a resistance at 1.1245, which led to the current correction. It seems like the bearish movement is going to a support area between the levels 1.1192 – 1.1178. If sellers be stopped here, then buyers can return to the market, so a resistance at 1.1257 – 1.1273 is probably going to be the main target soon.

More:
https://fxbazooka.com/en/analitycs/show/8285

 

[riki143]

Forex Analytics

GBP/USD: thud of hoofs after the "V-Bottom"
17 March 2016
Sergey Logachev

There’s a “V-Bottom” pattern at the local low, which led to the current upward movement. Finally, bulls faced a resistance at 1.4282, so it’s likely that a correction is coming soon. If the price finds a support at 1.4148, then the market is probable going to rise again towards a resistance area at 1.4305 – 1.4343.

All Moving Average lines has been broken as well as the local downward trend line. Bulls found a resistance at 1.4282, so we've got a correction here. It's likely that we'll see the market lower. If sellers be stopped somewhere in a support area at 1.4210 – 1.4172, then buyers will have an opportunity to come back and achieve a resistance area at 1.4305 – 1.4347.

More:
https://fxbazooka.com/en/analitycs/show/8286

 

[riki143]

Forex Analytics

EUR/USD: "window" played into buyers hands
17 March 2016
Galina Svetlova

The really strong “Window” has acted as a support, which led to a “Harami” pattern, so we’ve got an upward rally. The last candles are bullish and there aren’t any reversal patterns. It’s likely that the market is going to be higher. As we can see on the Daily chart, yesterday a “Three Methods” pattern was finally ended, so the upward movement will probably go on until any bearish pattern arrives.

The current rally started after a “Doji” was formed on the 89 Moving Average line, which acted as a strong support. The last candles are bullish and we don't have any reversal patterns so far. Despite of a possible downward correction, the market is likely going to be higher in the short term.

More:
https://fxbazooka.com/en/analitycs/show/8290

 

[riki143]

Forex Analytics

USD/JPY: bear's "stars"
17 March 2016
Galina Svetlova

There’s an “Evening Star” at the last high, which led to the current bearish movement. It’s likely to see a local correction, but then the market is probably going to fall even lower. As we can see on the Daily chart, the “Window” was broken and today’s candle has a chance to be closed below it.

We’ve got a “Shooting Star” at the last high and as we can see bears like it so much. A “Hammer” has just arrived, but a confirmation hasn't formed yet. So, the main expectation is to see more selling pressure, but a local correction is a still possible.

More:
https://fxbazooka.com/en/analitycs/show/8292

 

[riki143]

Forex Analytics

GBP/AUD: sell target - 1.8600
17 March 2016
By: Dmitriy Chernovolov

-GBP/AUD reached sell target 1.9000
-Next sell target - 1.8600

GBP/AUD has been falling sharply in the last few trading sessions - breaking through the support levels 1.9280 and 1.9000 (previous sell target set in our earlier forecast for this currency pair). The breakout of these support levels accelerated the active impulse wave (v) – which belongs to the sharp minor impulse wave 5 from the start of February (which previously broke the daily down channel from August).

GBP/AUD is likely to fall further to the next sell target at the support level 1.8600 (forecast price calculated for the termination of the active minor impulse wave 5).

More:
https://fxbazooka.com/en/analitycs/show/8294

 

[riki143]

Forex Analytics

USD/CAD: sell target - 1.2850
17 March 2016
By: Dmitriy Chernovolov

-USD/CAD reached sell target 1.3200
-Next sell target - 1.2850

USD/CAD recently broke sharply below the support level 1.3200, which was set as the sell target in our previous forecast for this currency pair. The breakout of the support level 1.3200 intensified the bearish pressure on USD/CAD, accelerating the active minor impulse wave 3, which belongs to the intermediate (C)-wave of the primary ABC correction ② from the middle of January.

The pair today broke the round support level 1.3000. If the price closes today below 1.3000 - USD/CAD can then be expected to fall further in the active impulse waves 3 and (C) toward the next sell target at the pivotal support level 1.2850 (which stopped the previous intermediate ABC correction (4) in last October).

More:
https://fxbazooka.com/en/analitycs/show/8295

 

[riki143]

Forex Analytics

EUR/USD: correction in a range of "flag"
18 March 2016
Sergey Logachev

The market has faced a resistance at 1.1337, which led to the current correction. It’s likely that the downward movement is going to reach a support area between the levels 1.1305 – 1.1273. If bears be stopped somewhere in here, then bulls might try to achieve a resistance area at 1.1376 – 1.1409.

The price has been consolidating since we’ve got a resistance at 1.1337. There’s a possible “Flag” in progress, so the price is likely going to reach the lower side of this pattern. If we see a pullback from it, then bulls might come back to the market.

More:
https://fxbazooka.com/en/analitycs/show/8297

 

[riki143]

Forex Analytics

GBP/USD: bearish correction
18 March 2016
Sergey Logachev

The market was rising yesterday and finally bulls reached a resistance at 1.4515, which led to the current correction. It’s likely to see the pair lower. If the price finds a support at 1.4436 – 1.4393, then buyers are probably going to achieve a resistance at 1.4577.

All Moving Average lines were broken by the fast bullish rally. There's a possible “Flag” pattern, so the price is likely going to reach its lower side near a support area at 1.4436 – 1.4393. In case of a pullback from this zone, bulls will have an opportunity to start a new upward movement.

More:
https://fxbazooka.com/en/analitycs/show/8299

 

[riki143]

Forex Analytics

EUR/USD: bear's "pole star"
18 March 2016
Galina Svetlova

The price has found a resistance, which brought some reversal patterns such as a “High Wave” and a “Tweezers”. The last candles are bearish, so the current correction is likely going to the nearest support line. However, we haven’t got any reversal patterns yet on the Daily chart. It means that we can see the market higher after the downward correction ends.

There’re a “Tweezers’, a “Shooting star” and a “Harami” at the last high. The last candles are bearish, so we can expect that the current correction is going to be continued towards the nearest support. If a pullback appears afterwards, then bulls might start a new rally.

More:
https://fxbazooka.com/en/analitycs/show/8300

 

[riki143]

Forex Analytics

USD/JPY: new "engulfing bearish"
18 March 2016
Galina Svetlova

There’re a couple of reversal patterns such as a “High Wave” and an “Engulfing Bullish”, so it’s possible that we’ll see an upward movement towards the nearest resistance line. Yesterday’s bearish candle was closed under the “Window” on the Daily chart. It’s likely that we’re going to have a local correction, but bears have an opportunity to return to the market afterwards.

We’ve got an “Engulfing Bullish” and a “High Wave” at the last low, which have been confirmed. In case of the local “Engulfing Bearish” it’s likely to have a downward movement, but it’s a still possible to see bigger bullish correction.

More:
https://fxbazooka.com/en/analitycs/show/8301

 

[riki143]

Forex Analytics

AUD/CAD: buy target – 1.0000
21 March 2016
By: Dmitriy Chernovolov

-AUD/CAD reversed from support area
-Next buy target – 1.0000

AUD/CAD continues to rise – following the earlier upward reversal from the support area lying at the intersection of the support level 0.9900, the 38.2% Fibonacci correction of the previous sharp minor impulse wave 1 from the end of February and the former resistance trendline of the recently broken daily down channel from December (acting as support now after it was broken). The upward reversal from this support zone started the active minor (b)-wave.

AUD/CAD is likely to rise further in the active minor (b)-wave toward the next buy target at the parity. Buy stop-loss can be placed below the aforementioned support level 0.9900.

More:
https://fxbazooka.com/en/analitycs/show/8330

 

[riki143]

Forex Analytics

EUR/USD: sell target -1.1150
21 March 2016
By: Dmitriy Chernovolov

-EUR/USD reversed from pivotal resistance level 1.1340
-Next sell target -1.1150

EUR/USD recently reversed down from the pivotal resistance level 1.1340, which previously reversed the price strongly at the start of February, as can be seen from the daily EUR/USD chart below. The resistance zone near the resistance level 1.1340 was strengthened by the upper daily Bollinger Band. The downward reversal from the resistance level 1.1340 stopped the active minor impulse wave 3 of the intermediate (C)-wave from the start of December.

Given the overbought reading on the daily Stochastic indicator and the strength of the resistance level 1.1340 - EUR/USD can be expected to fall further from the current levels toward the next sell target at the support level 1.1150.

More:
https://fxbazooka.com/en/analitycs/show/8329

 

[riki143]

Forex Analytics

Forex trading plan for March 22
21 March 2016
By Elizabeth Belugina

Global stock markets showed mixed picture, as investors were unsure. On the one hand, the US Federal Reserve’s more dovish approach is good for the market’s sentiment. On the other hand, oil was under pressure after the first increase in US drilling rigs this year.

EUR/USD kept correcting down from last week’s highs. The retracement may continue to 1.1220 and 1.1145 (23.6% and 38.2% Fibo of February-March advance). Watch the euro area’s key March manufacturing and services PMIs at 08:00-09:00 GMT. German and European ZEW economic sentiment index is due at 10:00 GMT. Depending on the data the market will or will not expect more easing from the central bank. Rise above 1.1375 is needed to open way up to 1.1500.

British pound is affected by Brexit concerns and political problems in the UK (British work and pensions secretary Iain Duncan Smith, a supporter of Brexit, resigned over the weekend). The nation will release inflation figures at 09:30 GMT. The forecast for February CPI is rather positive, though public sector net borrowing is expected to increase. The pair will likely test support at 1.4350 and 1.4280, though there still is buying interest for pound, so have cautious targets. Resistance is at 1.4435 and 1.4515.

USD/JPY will likely recover from 111.00 to 112.30/113.00 if the risk the market’s sentiment improves. However, the overall picture remains bearish. Below 111.00 the greenback will be vulnerable for a decline to the psychological mark of 110.00.

AUD/USD was supported by another increase in iron ore prices. Yet, it will be interesting to hear the comments from the Reserve Bank’s Governor Stevens at 05:30 GMT: the RBA doesn’t like high national currency and may try to talk it down. The pair reached 61.8% Fibo at 0.7675 last week and may retreat to 0.7530/00 before resuming growth.

More:
https://fxbazooka.com/en/analitycs/show/8332

 

[riki143]

Forex Analytics

EUR/USD: bears become wedged
22 March 2016
Sergey Logachev

There’s a “Double Top” pattern, which has been confirmed. The price faced a support at 1.1245, so we’ve got a downward correction in progress. It’s likely to see the market lower. If the pair forms a pullback from a support area at 1.1217 – 1.1193, then bulls will probably return and try to reach a resistance at 1.1305 – 1.1337.

We’ve got a downward flat in a range of possible “Wedge” pattern. If a pullback from its upper side appears, then the price is likely going to reach the lower side and a support at 1.1193. Finally, there’s an opportunity to see bulls on the market again, so a resistance at 1.1305 – 1.1337 is a still important.

More:
https://fxbazooka.com/en/analitycs/show/8338

 

[riki143]

Forex Analytics

GBP/USD: decline after the "Double Top"
22 March 2016
Sergey Logachev

The last flat was finally broken by bears. Previously, a “Double Top” was formed at the last high, which led to current downward movement. The market is likely going to reach a support at 1.4343 – 1.4305. If sellers be stopped here, then buyers will have a chance to achieve a resistance at 1.4515.

As we can see on the one-hour chart, the current local trend is a still bullish. There’s a “Double Top” pattern, which has been confirmed. The pair reached a support at 1.4371, which led to a local flat. It’s likely that the flat will be finally broken by bears, so a support at 1.4343-1.4305 is going to be the main target. At the same time, if a pullback from this area appears, then bulls might take a revenge and focus on a resistance at 1.4515.

More:
https://fxbazooka.com/en/analitycs/show/8339

 

[riki143]

Forex Analytics

EUR/USD: bears broken the "Window"
22 March 2016
Galina Svetlova

There’re a “High Wave” and a “Tweezers” at the last high. The last “Window” has been broken by the huge bearish candle. Therefore, the next “Window” is likely going to act as a support. As we can see on the Daily chart, here’s a “Harami”, which has been confirmed, so we can expect a further decline.

The price has reached the 89 Moving Average line, so it's possible to see any kind of bullish pattern and a local rise afterwards. After that, bears are likely going to taste the nearest “Window”.

More:
https://fxbazooka.com/en/analitycs/show/8340

 

[riki143]

Forex Analytics

Trading plan for March 23
22 March 2016
By Kira Iukhtenko

Market sentiment turned negative after the Brussels events on Tuesday. EUR/USD dipped to 1.1185, but note that the pullbacks are bought. Euro zone’s economic calendar is rather light, so the market will be driven mostly by the US news in the coming days. From the technical viewpoint, I’d rather not be buying euro at the current levels. Major support is seen at 1.1200 and we need a daily close lower to change the view to bearish.

GBP/USD is developing a bearish move as well. Weak UK inflation figures on Tuesday strengthened the selling pressure on the pair. There are no important releases to watch tomorrow, while on Thursday we will be watching the retail sales figures. Break below 1.4250 (50% Fibo) opens the way to 1.4150 in the coming days.

Dips in AUD/USD are also liquidated quickly – the pair recovered back above 0.7600 on Tuesday. Nexttargetliesat 0.7670. Thepairisnotoverbought. Meanwhile, USD/JPY broke from the lower boundary of the consolidative range. We expect the bearish trend to be extended with the medium term target at 110.00.

More:
https://fxbazooka.com/en/analitycs/show/8348