Market analysis and trade recommendations by FBS

[riki143]

EUR/GBP & Post-Brexit events: ¿Are the buyers losing momentum?
7/11/2016

The uncertainty around global markets remains alive after the “Brexit” referendum's outcome, especially around the Eurozone where the United Kingdom had decided to no continue with its membership. However, before that happens in “legal” terms, EUR and GBP pairs will be driven by the events that occur in the aftermath of that referendum. Last week there was a downgrade by agencies to the economic outlook for EU and UK, and also, recent political turmoil developments are still dominating the scenario.

A technical overview for EURGBP in the weekly chart is still calling for more upsides, but that should be limited by the 0.8683 zone, where the sellers played an active role during first months of 2013 year. Regarding price action, the pair seems to be overbought and maybe, we can see a retracement towards the 0.8416 level in a first degree. If EURGBP decides to choose the bearish path, it can reach the 200 SMA.

More:
https://new.fxbazooka.com/analytics/9537

 

[riki143]

EUR/GBP & Post-Brexit events: ¿Are the buyers losing momentum?
7/11/2016

The uncertainty around global markets remains alive after the “Brexit” referendum's outcome, especially around the Eurozone where the United Kingdom had decided to no continue with its membership. However, before that happens in “legal” terms, EUR and GBP pairs will be driven by the events that occur in the aftermath of that referendum. Last week there was a downgrade by agencies to the economic outlook for EU and UK, and also, recent political turmoil developments are still dominating the scenario.

A technical overview for EURGBP in the weekly chart is still calling for more upsides, but that should be limited by the 0.8683 zone, where the sellers played an active role during first months of 2013 year. Regarding price action, the pair seems to be overbought and maybe, we can see a retracement towards the 0.8416 level in a first degree. If EURGBP decides to choose the bearish path, it can reach the 200 SMA.

More:
https://new.fxbazooka.com/analytics/9537

 

[riki143]

USD/CAD: loonie is weakening
7/11/2016

USD/CAD is consolidating on the daily chart. ADX has spent a long time below 25, MACD is showing mixed dynamics. The bulls started seizing the initiative (EMA9>EMA26, +DMI>-DMI). The best strategies for such sutuation are buying on breakthroughs or on corrections to the uptrend.

More:
https://new.fxbazooka.com/analytics/9538

 

[riki143]

USD/JPY after Abe's victory: Heading up to 105.00?
7/12/2016

Monday in Asia was very moved in terms of financial markets, as the current Japanese PM Shinzo Abe secured a majority in the upper house and that could strengthen the so-called “Abenomics”, adding more stimulus to the national economy. After the news, Nikkei index rose more than 4% approximately, helping to give fresh bearish momentum to the JPY currency against others and it contributes to the Nippon exporters. Nothing has been said about exact days for the new measures to be done, but Abe already ordered to its Financial minister to prepare them.

The technical picture for USD/JPY at H1 chart is very bullish, as the pair did a consolidation above the 200-SMA and its looking to test the resistance level of 103.29, where a bearish trend line projected from May 31th highs could add pressure to the downside. If the USD/JPY achieves to break it, then we can expect a rally to the 104.00 psychological zone.

[IMG}https://new.fxbazooka.com/img/articles/9551/USDJPYH1(1).png[/IMG]

More:

https://new.fxbazooka.com/analytics/9551

 

[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.

More:

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

 

[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]

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]

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/CAD ahead BoC Interest Rate Decision: Can we see a higher continuation?
7/13/2016

Today at 14:00 GMT will be the Bank of Canada's interest rate decision, where it's expected to left unchanged the current 0.5%, according to the analysts and some polls released by news agencies such as Reuters. Afterwards, a monetary policy report is expected to be released, which also should give some hints above future steps for Central Bank regarding inflation. As the Brexit's outcome is still moving the markets, Canadian economy could be affected by the uncertainty regarding the sit-and-wait stance from US Fed about raise rates.

The technical picture for USD/CAD at H1 chart is calling for a bullish continuation, as the Loonie remains supported by a trend line and the 200 SMA. However, in case that the BoC gives us today hints of further easing, the pair may move into an enormous volatile wave, and it can break the resistance above the 1.3087, which also should open the doors to test the 1.3171 level. In the bearish scenario, a breakout below the 1.2978 level will expose the July 7th low at 1.2875.

More:
https://new.fxbazooka.com/analytics/9571

 

[riki143]

XAU/USD: gold needs some rest
7/13/2016

On the daily XAU/USD chart a number of indicators show that the uptrend has been broken. ADX lost momentum and started declining, MACD shows divergence with gold, EMA9 and EMA26 have crossed. In addition +DMI and –DMI have crossed.

More:
https://new.fxbazooka.com/analytics/9572

 

[riki143]

GBP/USD: sell at higher levels
7/13/2016

GBP/USD keeps correcting on the daily chart to the overall bearish trend. MACD is rising, ADX>25, -DMI>+DMI. The sellers failed to keep the pair below 161.8% Fibonacci of the last descending wave. Afther that the initiative returned to the buyers, which aimed to test resistance at 1.3487 (127.2%). The main recommendation is to the sell on the increase.

More:
https://new.fxbazooka.com/analytics/9573

 

[riki143]

EUR/USD: bulls can do more

The price has been moving in a range of the current “Flat”, so we’ve got a pullback from the nearest support at 1.1057. Therefore, the market is likely going to rise towards the 89 Moving Average. If a pullback from this line happens afterwards, bears will probably try to reach the next support at 1.1057 – 1.1032.

As we can see on the one-hour chart, there’s a flat between the 34 Moving Average and a support by the level at 1.1051. So, bulls are likely going to get a resistance at 1.1125 – 1.1145 in the short term. At the same time, if we see a pullback from this area, a downward movement becomes possible, so we should keep an eye on the local support at 1.1089 – 1.1074 as a possible bearish target.

More:
https://new.fxbazooka.com/analytics/9574

 

[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