Market analysis and trade recommendations by FBS

[riki143]

EUR/USD is holding ground
7/19/2016

The main currency pair keeps consolidating in the 1.1-1.1175 area. The bulls and the bears are currently fighting around the important level of 1.1072. It corresponds to 23.6% Fibo of the last descending wave.

On H1 EUR/USD reached 78.6% of the "Shark" pattern's target and then started correcting to 50% of the last bearish wave according to the 5-0 pattern. Close to 1.1095 there's an upper border of the short-term bullish trend, as well as the target at 161,8% according to AB=CD. This means the area of convergence. The inability of the bulls to break above this area will be a signal to open short positions.

Recommendation: SELL 1095 SL 1,1150 TP 1,0890



EUR

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https://new.fxbazooka.com/analytics/9655

 

[riki143]

USD/JPY: the bulls want more
17/19/2016

On the daily USD/JPY chart the bulls are getting ready to seize the upper border of the downtrend channel. If they succeed, the odds of the bullish reversal will increase. The buyers' attack is aimed at 127.2% of the Crab pattern target. Close to it there's 38.2% Fibo of the last descending wave. As a result, we may see the convergence area of 108.5/109.00. The closest support is at 104.87.

On H1 USD/JPY correction to 104.83 (23.6% Fibo of the latest bullish wave), 104.4 (target at 78.6% of the Gartley pattern) and 103.9 (38.2% Fibo) should be used to open long positions.

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https://new.fxbazooka.com/analytics/9656

 

[riki143]

EUR/USD: new local high is coming soon because of the "Flag"
7/19/2016

There’s a “Double Bottom”, which led to the current upward price movement. Also, we’ve got a “Triangle”, so the market is likely going to move up in the direction of the 55 Moving Average. If we see a pullback from this line afterwards, bears will probably try to get a support at 1.1015 – 1.1001.

As we can see on the one-hour chart, there’s a flat in progress between a resistance by the Moving Average lines and a support by the level at 1.1057. At the same time, we’ve got a “Flag”, so the pair is likely going to reach the closest resistance area, which is near the local downtrend. However, if bulls be stopped here, there’ll be an opportunity to see a decline towards a support at 1.1024 – 1.1014.

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https://new.fxbazooka.com/analytics/9657

 

[riki143]

GBP/USD: bearish "Triple Tops"
7/19/2016

The price has formed a “Double Top” pattern, which led to decline towards a support at 1.3116. Nevertheless, there’s a possible “Flag”. If it confirms, the price is likely going to get a support at 1.3116 – 1.3015 in the short term. However, is a pullback from here happens afterwards, bulls will probably try to catch a resistance at 1.3471 – 1.3614.

We’ve got a “Triple Top”, so the price is consolidating under the Moving Averages. Therefore, the market is likely going to decline towards a support at 1.3104 during the day. If bears can’t break this level and we see a pullback from it, an upward intraday movement will be on the table.

More:
https://new.fxbazooka.com/analytics/9658

 

[riki143]

EUR/USD: the Euro keeps standing under a cloud
7/19/2016

During yesterday's session the Eurodollar traded near the lower boundary of the four-hour Ichimoku cloud. Trades was moderate, in a very narrow range. We pointed to the cross formed by the dead cross and the expanding of the cloud to downward. Therefore we still to expect the resumption of downtrend.

Technical levels: support - 1.1030; resistance – 1.1090.

Trade recommendations:

1. Sell — 1.1070/80; SL — 1.1100; TP1 — 1.1000; TP2 — 1.0950.

More:
https://new.fxbazooka.com/analytics/9659

 

[riki143]

AUD/USD: the Aussie fell into a cloud
7/19/2016

The Australian dollar yesterday stood firm over a four-hour Ichimoku cloud. But the Bulls did not want to continue the uptrend – there is a resistance of the Kijun-Sen and Tenkan-sen lines. Today’s morning the Aussie unexpectedly passed their position, falling into the cloudy zone. And now the trades are conducted in the area of 75th figure.

Obviously, we will see testing the lower boundary of the cloud so soon.

Technical levels: support – 0.7490, 0.7470; resistance – 0.7560.

Trade recommendations:

1. Buy — 0.7490; SL — 0.7470; TP1 — 0.7560; TP2 — 0.7600.

More:
https://new.fxbazooka.com/analytics/9660

 

[riki143]

USD/JPY: the Bulls stumbled on 106.00.
7/19/2016

The currency pair USD/JPY kept above the line Tenkan-sen during yesterday’s session and the bulls tried to continue the uptrend. However, in the area of 106.30/40, as we noted earlier, there is a strong resistance that does not pass its higher.

Given the local overbought of the market we expect a correction to the Ichimoku cloud.

Technical levels: support – 105.10; resistance – 106.00, 106.40.

Trade recommendations:

1. Sell — 106.00; SL — 106.20; TP1 — 105.10; TP2 — 104.10.

More:
https://new.fxbazooka.com/analytics/9661

 

[riki143]

EUR/USD: bears is about to deliver a new low
7/19/2016

The main trend is a still bearish. Also, the middle of the last huge black candle has acted as a resistance. However, the last “Engulfing” pattern hasn’t been confirmed, so the market is likely going to test the nearest resistance once again. If we see a pullback from this line, bears will probably try to deliver a new low. As we can see on the Daily chart, there’s a bullish “Harami”, but it hasn’t been confirmed yet. Anyway, bears are likely going to reach the closest support line soon.

The price has been moving up and down in a range of the “Window”. Moreover, there’s a strong support by the 55 Moving Average, but the last candles are so variable. Under this circumstances, the pair is likely going to get a resistance on the 89 Moving Average, which could reverse the price movement in the direction of the last low.

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https://new.fxbazooka.com/analytics/9671

 

[riki143]

USD/JPY: "Window" has been waiting for bulls
7/19/2016

Bulls are very strong, so we don’t have any reversal patterns so far. Also, the price has got a support on the 144 Moving Average, so the market is likely going to reach the nearest “Window” in the short term. As we can see on the Daily chart, the last “Harami” pattern hasn’t been confirmed, which makes possible an achievement of the 34 Moving Average.

The price found a support on the 13 Moving Average. Moreover, there’s a confirmed “Hammer”, so the pair is likely going to test the last high shortly. If we see a pullback from here, there’ll be a chance to see a local correction towards the Moving Averages.

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https://new.fxbazooka.com/analytics/9672

 

[riki143]

EUR/GBP rising inside the minor B-wave
7/19/2016

EUR/GBP rising inside the minor B-wave
Next buy target – 0.8500
EUR/GBP continues to rise inside the minor B-wave of the intermediate ABC correction (4) from the start of this month. The active B-wave started earlier last week – when the price corrected up from the support zone lying between the support level 0.8300 and the 38.2% Fibonacci correction of the previous sharp intermediate impulse wave (3) from the end of June.

EUR/GBP is expected to rise further in the active B-wave toward the next buy target at the resistance level 0.8500 (forecast price calculated for the termination of wave B). Buy stop-loss can be placed below the aforementioned support level 0.8300.

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https://new.fxbazooka.com/analytics/9673

 

[riki143]

EUR/AUD rising inside minor impulse wave 3
7/19/2016

EUR/AUD rising inside minor impulse wave 3
Next buy targets - 1.4900 and 1.5000
EUR/AUD continues to rise inside the minor impulse wave 3, which started earlier - when the pair reversed up for the support zone lying between the major long-term support level 1.4490 (which reversed the previous waves (C), A and (2), as can be seen from the daily EUR/AUD chart below) and the lower daily Bollinger Band.

EUR/AUD is expected to rise further in the active impulse waves 3, (3) and ③ toward the next buy target at the resistance level 1.4900 – the breakout of which can lead to further gains toward the next round resistance level 1.5000.

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https://new.fxbazooka.com/analytics/9674

 

[riki143]

Key options levels: July 18-24
7/19/2016

EUR/USD

· • Closest resistance levels: 1.1162; 1.1217/45; 1.1282; 1.1322

· • Closest support levels: 1.1003; 1.0976/45; 1.0871; 1.0829

· • Bullish risks range: 1.1162-1.1505

· • Bearish risks range: 1.1030-1.0829

EUR/USD keeps being under control by buyers. In mid-term perspective, the currency pair is still tending to be in decline (main goal of the bears is to reach 1.0871). Attaining 1.1003 level paves the way for levels 1.0976 and 1.0871. The fallback presupposes hitting 1.1162 and getting higher, which is the alarm for buying the pair with targets at 1.1217 and 1.1282.

GBP/USD

· • Closest resistance levels: 1.3307; 1.3359; 1.3403/54; 1.3514

· • Closest support levels: 1.3034; 1.2981; 1.2921; 1.2888

· • Bullish risks range: 1.3307-1.3514

· • Bearish risks range: 1.3034-1.2854

GBP/USD can continue the correction upwards, though a change risks are highly expected this week. The mid-term related scenario can be described as moderately-negative. The spike to 1.3307 paves the way for 1.3359 and 1.3403. The fallback is downwards movement to 1.3034. which is the alarm for selling with targets at 1.2981 and 1.2921.

USD/JPY

o • Closest resistance levels: 105.71; 106.15/51; 106.99; 107.93

o • Closest support levels: 103.61; 102.98; 102.25; 101.47

o • Bullish risks range: 105.71-107.93

o • Bearish risks range: 103.61-100.67

USD/JPY holds staying positive. The mid-term trend keeps shifting upwards. The range for buyers looks strong enough to absorb decline attempts. The spike to 105.71 paves the way for 106.15 and 106.99. The buyers should press the trigger when it reaches 103.61, targets are 102.98 and 102.25

USD/CAD

o • Closest resistance levels: 1.3033; 1.3079; 1.3134; 1.3200

o • Closest support levels: 1.2852; 1.2812; 1.2763; 1.2706

o • Bullish risks range: 1.3033-1.3350

o • Bearish risks range: 1.2852-1.2706

USD/CAD has got prepared for the growth. Bulls hold dominance in mid-terms. Rise higher 1.3033 sets the scene for new wave towards 1.3079 and 1.3134. Short positions are worthy to place if price consolidates lower 1.2852; targets are 1.2812 and 1.2763.

More:
https://new.fxbazooka.com/analytics/9675

 

[riki143]

USD/CAD & Oil Prices: 1.3100 on the road?
7/20/2016

The decline in oil's prices is still weighing on CAD, at least during this week, as we can see a bullish consolidation on the USD/CAD pair above the 200 SMA at H1 chart. During yesterday, WTI crude oil futures settled down 1.30%, quoting at $44.65 per barrel. In addition, Crude Oil Inventories came weaker-than-expected, with -2300K, against 2207K registered last week. That's because of current risk-off sentiment on markets.

Current outlook on the Loonie at H1 chart is calling for more upside, as the pair is looking to break the strong resistance around the 1.3046 level. If that happens, then we can see a rally towards the July 12th high, around the 1.3130 price zone. However, we should take in mind that USD/CAD is following a bullish trend line projected from July 15th low. If the pair achieves in break it, then we can see a decline to the 1.2900 on a mid-term basis.

More:
https://new.fxbazooka.com/analytics/9676

 

[riki143]

EUR/USD: euro was caught by the bears
7/20/2016

On the daily EUR/USD chart the pair came to the lower border of the 1.1-1.1175 consolidation range. Successful test of support will lead the pair further down to the target of в AB=CD pattern at 161.8% (1.0890). Our earlier signal to sell from 1.1079 was successful. The short position was opened. We recommend to place the stop order to the breakeven point.

On H1 EUR/USD the AB=CD pattern is active. Its 224% target is at 1,.955. The nearest support is at 1.1038.

Recommendation: hold short positions.

EUR

More:
https://new.fxbazooka.com/analytics/9677

 

[riki143]

GBP/USD: the bears restore the trend
7/20/2016

On the daily GBP/USD chart the bears restore the downtrend. The pair moves towards the target of AB=CD at 127.2% (1.261). Our recommendation to sell British pound from 1.3167 was successful. The short position was opened. Move the Stop Loss to a breakeven point.

On H1 the target is at 1.291. Here's the target of the "Shark" pattern. The nearest resistance is at 1.3145.

Recommendation: hold short positions.

GBP

More:
https://new.fxbazooka.com/analytics/9678

 

[riki143]

EUR/USD: the Euro resumed its downtrend
7/20/2016

During yesterday's session the Eurodollar finally bounced from the bottom of the Ichimoku cloud and resumed the downtrend. By the end of the day the currency pair rates fell to lows of two weeks, to the figure of 1.1000. Ichimoku indicator’s mood is now completely bearish.

At the same time there is a local overbought market now. It is possible returning of the prices to the Tenkan-sen.

Technical levels: support - 1.1000; resistance – 1.1050.

Trade recommendations:

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

More:
https://new.fxbazooka.com/analytics/9679

 

[riki143]

GBP/USD: the Pound is under a cloud
7/20/2016

The Pound was unable to overcome the resistance of Tenkan-Sen and Kijun-Sen during yesterday's session. Bounced from 1.3270 the market has continued decreasing and reached the levels of the Ichimoku clouds lower border. Today's trading is in the negative zone and the Bulls have a less and less chances for the correction to 1.4000. In the near future the bearish sentiment on the market will remain. Under the influence of the dead cross and the Ichimoku cloud the prices could fall to 1.2930.

Technical levels: support – 1.2930; resistance – 1.3130/50.

Trade recommendations:

1. Sell — 1.3150; SL — 1.3170; TP1 — 1.2930; TP2 — 1.2860.

More:
https://new.fxbazooka.com/analytics/9680

 

[riki143]

USD/JPY: the spring continues to shrink
7/20/2016

The currency pair USD/JPY continues to stay above the Tenkan-Sen line. The Bulls could not continue the uptrend despite its efforts. As we said earlier, there is a strong resistance in the area of 106.30/40. Therefore, if today this level will not be passed, we will expect a correction to the Ichimoku cloud.

Technical levels: support – 105.10; resistance – 106.00, 106.40.

Trade recommendations:

1. Sell — 106.00; SL — 106.20; TP1 — 105.10; TP2 — 104.10.

More:
https://new.fxbazooka.com/analytics/9681

 

[riki143]

EUR/USD: "Double Bottom" points to a possible correction
7/20/2016

The last “Triangle” has been broken. However, bears found a support at 1.1001 afterwards, so currently we’ve got a local upward correction. Therefore, the market is likely going to reach the closest resistance at 1.1057 – 1.1083 in the short term. If a pullback from this area arrives later on, sellers will probably try to achieve the next support at 1.0970.

As we can see on the one-hour chart, the price has been moving in an intraday flat’s range since a support at 1.1001 was reached. Also, there’s a possible “Double Bottom” pattern, so bulls are likely going to try to get a resistance near the local downtrend. Perhaps, a pullback from here arrives afterwards. If so, bears will deliver a new low shortly.

More:
https://new.fxbazooka.com/analytics/9683

 

[riki143]

GBP/USD: "Triple Top" led to decline
7/20/2016

The price has been falling down. However, bears faced a support at 1.3116, so the market is likely going to reach a resistance at 1.3226 – 1.3336. If a pullback from this area arrives afterwards, there’ll be an opportunity to see another downward movement in the direction of the next support area at 1.3015 – 1.2849.

The last consolidation along the Moving Averages was finally ended by the strong bearish rally. Nevertheless, the price found a support at 1.3104, which led to the current local flat. So, the pair is likely going to get a resistance at 1.3273 – 1.3313. If we see a pullback from this area, bears will probably try to achieve a support at 1.3015 – 1.2970.

More:
URL=https://new.fxbazooka.com/analytics/9688]https://new.fxbazooka.com/analytics/9688[/URL]