Market news and trade recommendations by FBS

[riki143]

USD/CHF: bulls are taking the lead
7/12/2016

USD/CHF is consolidating on the daily chart: ADX<25, MACD is showing mixed dynamics. The bulls are in control: EMA9>EMA26, +DMA>-DMI. In such situation use breakthrough strategies. Focus on long positions.

On H1 USD/CHF was consolidating in the 0.9812/0.9860 range during the last few days. The break of support will lead to correction, successful test of resistance will make the pair return to uptrend.

Recommendation: BUY 0,986 SL 0,981 TP1 0,996 TP2 1,001

More:
https://new.fxbazooka.com/analytics/9552

 

[riki143]

USD/JPY: correcting is losing momentum
7/12/2016

USD/JPY is correcting on the daily chart. This is confirmed by rising MACD, the intersection of EMA9 and EMA26, retracement of ADX. At the same time the bearish trend remains in place: ADX is far from its extreme values (above 56), -DMA>+DMI. The main recommendation is to sell on rallies.

On H1 USD/JPY iis losing bullish momentum: ADX is above its extreme values, +DMA and –DMI started declining. In line with the "Bat" pattern sell the pair from 105.

Recommendation: SELL 105, SL 106, TP1 103, TP2 102.

More:
https://new.fxbazooka.com/analytics/9553

 

[riki143]

EUR/USD: rising to the cloud
7/12/2016

The Eurodollar has corrected to the Tenkan-Sen and Kijun-sen on four-hour timeframe during yesterday’s session. Horizontal lines held off that rising in the area of 1.1060. During this time there was a cancellation of a dead cross, but preserved the basic downward trend.

The Bulls punched the resistance of Tenkan and Kijun lines this morning. Therefore the rising is possible to lower bound’s levels of the Ichimoku cloud. After that we expect the resumption of downtrend.

Technical levels: support - 1.1060; resistance – 1.1100.

Trade recommendations:

1. Sell — 1.1100; SL — 1.1120; TP1 — 1.1000; TP2 — 1.0950.

More:
https://new.fxbazooka.com/analytics/9554

 

[riki143]

GBP/USD: the Pound has corrected
7/12/2016

On yesterday’s session the Bears attempted the resumption of downtrend. The negative sentiment supported by a dead cross and a falling cloud. But the oversold market is not allowed for sellers to update the lows of a last week. A falling has stopped in the area of 1.2850 and the market has began correction in the direction of the clouds.

At this morning we’re seeing testing the lower bounds of the Ichimoku cloud. We expect a downward rebounding from Senkou Span A.

Technical levels: support – 1.2970; resistance – 1.3100.

Trade recommendations:

1. Sell — 1.3100; SL — 1.3120; TP1 — 1.3000; TP2 — 1.2970.

More:
https://new.fxbazooka.com/analytics/9555

 

[riki143]

USD/JPY: meeting with the cloud
7/12/2016

The bullish sentiment prevailed yesterday on market of the currency pair USD/JPY. Correction caused by market’s oversold has continued deep into the Ichimoku cloud on the four-hour timeframe. And rising has continued to the 103-rd figure. There was a bulls meeting with resistance of the clouds top bounds. It makes sense to expect a downward rebounding and a continuation of trading inside a cloud.

Technical levels: support – 101.70, 101.00; resistance – 103.10.

Trade recommendations:

1. Sell — 103.00; SL — 103.20; TP1 — 102.00; TP2 — 101.70.

More:
https://new.fxbazooka.com/analytics/9556

 

[riki143]

EUR/USD: bulls going to deliver a deeper correction
7/12/2016

The price has been moving in a flat’s range. So, it’s likely that the market is going to decline towards a support area at 1.1032 – 1.1023 in the short term. If a pullback from here happens afterwards, there’ll be an opportunity to have an upward movement in the direction of the nearest resistance at 1.1120 – 1.1145.

As we can see on the one-hour chart, there’s a local upward movement. The 89 Moving Average has acted as a resistance, so we’ve got a “V-Top” here. Therefore, the market is likely going to catch a support at 1.1032 – 1.1023 in the short term. However, bulls will probably try to reach a support at 1.1120 – 1.1130 afterwards.

More:
https://new.fxbazooka.com/analytics/9560

 

[riki143]

GBP/USD: downtrend is waiting for bears
7/12/2016

We’ve got the price movement in a range of the current “Flag” pattern. So, it’s likely that the market is going to decline towards the main downtrend line in the short term. If any bullish pattern arrives afterwards, there’ll be an opportunity to see a bullish correction in the direction of a resistance at 1.3116 – 1.3226.

The price faced a resistance at the upper side of the “Flag”, so the pair is likely going to fall towards a support at 1.2795 in the short term. Considering a possible pullback from this level, an upward correction becomes possible later on.

More:
https://new.fxbazooka.com/analytics/9566

 

[riki143]

GBP/CHF reversed from support zone
7/12/2016

GBP/CHF reversed from support zone
Next buy target - 1.3000
GBP/CHF recently reversed up from the powerful support zone lying between the support levels 1.2600 (previous sell target set for this currency pair) and 1.2700 (low of the earlier sharp downward C-wave from the start of 2015). The upward reversal form this support zone stopped the earlier minor impulse wave 3, which belongs to the intermediate (C)-wave from the end of 2015.

Given the clear bullish Stochastic divergence that can be seen on the weekly GBP/CHF chart –the pair is likely to rise further from the current levels toward the next buy target at the resistance level 1.3000.

More:
https://new.fxbazooka.com/analytics/9567

 

[riki143]

AUD/JPY reversed from major support level 72.50
7/12/2016

AUD/JPY reversed from major support level 72.50
Next buy target - 80.00
AUD/JPY continues to rise strongly – following the earlier sharp upward reversal form the major long-term support level 72.50 (which also previously reversed the primary ABC correction Ⓑ at the end of 2011, as can be seen from the weekly AUD/JPY chart below). The support zone near this support level was strengthened by the support trendline of the weekly down channel from 2014.

The upward reversal from the support level 72.50 completed the previous primary impulse wave ③. AUD/JPY is likely to rise further to the next buy target at the round resistance level 80.00.

More:
https://new.fxbazooka.com/analytics/9568

 

[riki143]

EUR/USD: "Engulfing" led bulls to break the "Window"
7/12/2016

We’ve got a “Harami” and an “Engulfing” at the local low, so the price came back inside the nearest “Window”. So, the market is likely going to reach the 55 Moving Average in the short term. As we can see on the Daily chart, here’s a “High Wave”, which led to the current upward movement.

There’re a “Harami” and a “Doji”, which both have been confirmed enough. Also, we’ve got a “Three Methods” pattern. If the last “High Wave” at the local maximum confirms, there’ll be an opportunity to see a local correction toward the lower “Window”.

More:
https://new.fxbazooka.com/analytics/9569

 

[riki143]

USD/JPY: bulls approaching to the "Window"
7/12/2016

There’s a “Hammer” at the local low, which has been confirmed enough. Also, bulls has faced a resistance by the upper “Window”, so a local downward correction becomes possible. As we can see on the Daily chart, we’ve got a “High Wave” here, which led to an achievement of the 13 Moving Average. However, bulls are likely going to test the nearest “Window” in the short term.

We’ve got a “Three Methods” on the one-hour chart, which already delivered a new high. Considering that there isn’t any reversal bearish pattern, buyers are probably going to catch a resistance by the nearest “Window” shortly.

More:
https://new.fxbazooka.com/analytics/9570

 

[riki143]

GBP/USD: "Double Bottom" set up bullish correctionA
7/13/2016

The price has been rising since a “Double Bottom” formed near the downtrend’s lower side. The 34 Moving Average acted as a resistance. Therefore, bulls are likely going to move on towards the next resistance at 1.3471 – 1.3614. If so, the last “Breakaway Gap” will be closed soon. However, if a pullback from this area happens later on, bears will probably try to achieve a support at 1.3226.

Bulls faced a support at 1.3356, which led to the current local downward movement. However, the price is likely going to reach a resistance at 1.3495 – 1.3532. If a pullback from this area happens afterwards, there’ll be an opportunity to see a decline towards a support at 1.3285 – 1.3226.

More:
https://new.fxbazooka.com/analytics/9575

 

[riki143]

EUR/USD: the Euro can’t decide the direction
7/13/2016

As we expected, yesterday Eurodollar has rebounded to the lower boundary of the four-hours Ichimoku cloud. Immediately has begun the new sales of the currency pair from 1.1100. Tenkan-sen and Kijun-sen formed a golden cross. It’s holding the further attacks of the bears in the area of 1.1060. A breaking of this support would mean a resumption of the downtrend.

Technical levels: support - 1.1060; resistance – 1.1100.

Trade recommendations:

1. Sell — 1.1050; SL — 1.1070; TP1 — 1.1000; TP2 — 1.0950.

More:
https://new.fxbazooka.com/analytics/9576

 

[riki143]

AUD/USD: the Aussie has updated the local maximums
7/13/2016

Yesterday the Aussie has grown significantly against the US dollar by setting a new high for the last two months - 0.7660. This growth has led the market to an overbought and forced the prices to correction to the Tenkan-sen (0.7590) on the four-hour timeframe.

This support can be used by bulls to start a new purchases. But if the level does not support the market there is a possibility of a deeper correction in the Ichimoku clouds direction.

Technical levels: support – 0.7590, 0.7560; resistance – 0.7620.

Trade recommendations:

1. Buy — 0.7560; SL — 0.7540; TP1 — 0.7660; TP2 — 0.7690.

More:
https://new.fxbazooka.com/analytics/9577

 

[riki143]

USD/JPY: change of trend
7/13/2016

A strong growth checked on the market USD/JPY during yesterday's session. The pair has risen more than two figures and setting up a new three-week maximums in the area of the 105th figure. In this case the bulls broke through the resistance of the Ichimoku cloud and went into the positive region. The Tenkan-Sen and Kijun-sen formed a golden cross and clouds character will be changed to positive.

After a bit of consolidation at the current levels we expect the further growing of the pair.

Technical levels: support – 103.90, 103.70; resistance – 105.00/20.

Trade recommendations:

1. Buy — 103.90; SL — 103.70; TP1 — 104.80; TP2 — 105.20.

More:
https://new.fxbazooka.com/analytics/9578

 

[riki143]

EUR/USD: bears try to return
7/13/2016

Bears are still in the game, because the middle of the last huge black candle acted as a resistance again, so we’ve got a “Hanging Man” and a “Harami” here. Therefore, the market is likely going to reach the lower “Window” in the short term. As we can see on the Daily chart, there’s a “High Wave” at the local low, but if the nearest resistance line brings any reversal pattern, bears are likely going to come back into the market.

We’ve got an “Engulfing” inside the current “Window”, so we’re likely going to see an upward movement during the day. If any bearish pattern arrives afterwards, the pair will probably try to break the last low.


More:
https://new.fxbazooka.com/analytics/9583

 

[riki143]

USD/JPY: "Hammer" increasing bullish pressure
7/13/2016

There’s a “Harami” on the nearest “Window”. If this pattern confirms, bulls are likely going to move on. As we can see on the Daily chart, the price reached a “Window”, so the 21 Moving Average could bring any bearish pattern afterwards. If so, a downward correction becomes possible.

We’ve got a “Harami” and a “Tower” on the nearest resistance. However, there’re a “Hammer” and an “Engulfing” on the 13 Moving Average, so buyers are likely going to deliver a new low very soon.

More:

https://new.fxbazooka.com/analytics/9584

 

[riki143]

AUD/CAD reached buy target 0.9950
7/13/2016

AUD/CAD reached buy target 0.9950
Next buy targets – 1.0000 and 1.0090
AUD/CAD continues to rise in line with our previous forecast for this currency pair. The price earlier broke the resistance trendline of the wide daily down channel from December - which strengthened the bullish pressure on this currency pair. The price earlier reached the resistance level 0.9950 (top of the earlier wave 2 and the first buy target set in our previous forecast for this currency pair).

If the pair breaks above 0.9950 - AUD/CAD can then be expected to test the next major resistance at the parity – the breakout of which can lead to further gains toward the next resistance level 1.0090 (top of wave 2 from Janauray).

More:
https://new.fxbazooka.com/analytics/9585

 

[riki143]

CHF/JPY rising inside minor C-wave
7/13/2016

CHF/JPY rising inside minor C-wave
Next buy target - 107.70
CHF/JPY continues to rise inside the minor C-wave of the intermediate ABC correction (4) from the end of June. The active C-wave started earlier this month – when the pair reversed up from the support level 102.20, which was set as the sell target in our earlier forecast for this currency pair. The price previously broke through the resistance level 105.70 (which stopped the earlier A-wave).

CHF/JPY is expected to rise further in the active C-wave toward the next buy target at the resistance level 107.70 (target price for the completion of wave (4), coinciding with the 38.2% Fibonacci correction of the previous shop downward impulse from March).

More:

https://new.fxbazooka.com/analytics/9586

 

[riki143]

Forex trading plan for July 14

US dollar index rose to June highs this week, but so far hasn’t managed to overcome resistance at 97.00. The Fed’s Cleveland head Loretta Mester said that gradual rate hikes are still appropriate in the US. On Thursday America will release two key events– PPI and unemployment claims.

EUR/USD stays below the key level of 1.1100 (200-day MA). The euro is under pressure as traders expect dovishness form the European Central Bank’s meeting next week. Data from the euro area are weak: the region’s industrial production contracted by 1.2% in May. The 50-day MA went below 100-day MA – a bearish signal. Yet, the euro is still holding ground as traders don’t expect an interest rate hike in the US anytime soon. In the near term the picture looks neutral: the pair is consolidating in 1.1155/1.0970 range.

GBP/USD rose to nearly a 2-week high at 1.3336 as political uncertainty in the UK was set to decrease somewhat with Theresa May set to become prime minister on Wednesday. Note, however, that future of the relationship between the UK and the European Union is still uncertain. The market is pricing a rate cut by the Bank of England on Thursday. It will be Important how dovish the BOE Governor and how much monetary stimulus he will hint on besides the rate cut. Next resistance is at 1.3500/20, while support is at 1.3120/00.

USD/JPY recovered to 105.00. Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending. On Tuesday Abe met with former Fed’s Chairman Ben Bernanke. This meeting fueled expectations that the Bank of Japan will take part in Abe’s stimulus plan and further ease its monetary policy. Above 105.00 the pair will have chance to rise to 106.00/50. Support is at 103.50.

AUD/USD breached resistance line connecting April and June highs and is trading above 0.7600. Aussie was helped by the decreased political uncertainty in Australia: Australia's ruling conservatives finally secured a parliamentary majority following a protracted election vote count. Yet, many experts still expect the Reserve Bank of Australia to cut rate in August: the higher Aussie goes, the stronger will be such expectations. Resistance is at 0.7680, support is at 0.7570.

EUR JPY AUD GBP