Market analysis and trade recommendations by FBS

[riki143]

USD/JPY: "Shooting Star" points to a possible new local low
7/25/2016

We’ve got a “Harami” at the local high, but its confirmation is still developing. So, the price is likely going to reach 55 Moving Average, which could act as a support. As we can see on the Daily chart, there’s an “Engulfing” at the last high, but it hasn’t been confirmed yet. If the price gets a resistance on the 34 Moving Average, then a decline toward the 21 Moving Average becomes possible.

There’s a consolidation in progress. Also, we’ve got a bearish “Shooting Star” at the local high. Therefore, the market is likely going to continue the current downward movement.

More:
https://new.fxbazooka.com/analytics/9755

 

[riki143]

NZD/CAD reversed from support zone
7/25/2016

NZD/CAD reversed from support zone
Next buy target – 0.9300
NZD/CAD recently reversed up from the support zone lying between the strong support level 0.9080 (former powerful resistance level from June – which also recently reversed the price with the strong daily Japanese candlesticks reversal pattern Hammer, as can be seen below) and the 50% Fibonacci retracement of the previous sharp upward price impulse from the end of April.

The upward reversal from the aforementioned support zone completed the previous intermediate correction (4) (which belongs to the primary upward impulse wave ? from April). NZD/CAD is likely to rise to the next buy target at the resistance level 0.9300.

More:
https://new.fxbazooka.com/analytics/9756

 

[riki143]

USD/CAD broke pivotal resistance level 1.3120
7/25/2016

USD/CAD broke pivotal resistance level 1.3120
Next buy target - 1.3300
USD/CAD continues to rise after the earlier breakout of the pivotal resistance level 1.3120 (which has been steadily reversing the price from the end of May, as can be seen from the daily USD/CAD chart below). The breakout of the resistance level 1.3120 is likely to accelerate the active (c)-wave of the minor ABC correction 2 from the start of June.

USD/CAD is expected to rise further to the next buy target at the resistance level 1.3300 (top of the previous minor correction 4 from March and the target price calculated for the completion of the active ABC correction 2).

More:
https://new.fxbazooka.com/analytics/9757

 

[riki143]

USD/JPY ahead CB Consumer Confidence: Risk to the downside prevails
7/26/2016

Today at 14:00 GMT we'll know the U.S CB Consumer Confidence for July, where analysts are expecting a decline from 98.0 to 95.6 on this release. That should put an interesting short-term scenario on the US Dollar, as it has been rallying since last weeks. However, in the USD/JPY pair case, we have been seeing during Monday a Yen's strengthening against other currencies, such as the greenback, amid reports of further stimulus from Bank Of Japan.

Current technical picture for USD/JPY at H1 chart is showing a possible triangle pattern formation, as the current structure has been setting up as contractive. If CB's reading is weaker than expected, then we can see further declines toward the 104.80 price zone, while a positive data can push the pair higher towards the 106.66 level, where it could also attempt to break the triangle and the bullish bias can strengthen on a short-term basis.

More:
https://new.fxbazooka.com/analytics/9758

 

[riki143]

GBP/USD: bears prepared for a breakthrough
7/26/2016

On the daily chart one may see that GBP/USD started consolidating in the 1.3070-1.3500 range. Its lower border correspomds to 161.8% target, the upper border corresponds to 127.2% of the senior AB=CD pattern, which is marked by red color. The break of support may resume the downtrend sending the pair towards 1.26. Here are the targets of 200% of the senior and 127.2% of the junior pattern (painted in green color) AB=CD patterns.

If GBP/USD successfully tests the lower border of the triangle (1.3071), it will lead to the resumption of the short-term bearish trend within the descending trend channel. The area of 1.2890 is a target (historic support) – 1.2910 (target at 161.8% of AB=CD).

Recommendation: SELL 1,307 SL 1,317 TP1 1,291 TP2 1,261

GBP

More:
https://new.fxbazooka.com/analytics/9759

 

[riki143]

EUR/USD: "Wedge" like the first bearish step into the fifth wave
7/26/2016

There’s a possible “Wedge” in wave (1). Previously, wave 4 has been formed like a “Double Three”, so the market is free to deliver wave 5 of (1) in the short term. Therefore, bears are likely going to break the wave’s 3 low soon.

As we can see on the one-hour chart, we’ve got an ended “Wedge” in wave , so there’s an upward correction in progress. Considering an impulse in wave (a), there’s an opportunity to have the next impulse in wave (c) of [ii] during the day.

More:
https://new.fxbazooka.com/analytics/9776

 

[riki143]

USD/CHF: bullish targets
7/26/2016

On the daily chart USD/CHF is trading within an uptrend channel. The break of resistance at 0.9896 will lead to the resumption of the bullish move towards 127.2% ?of the "Shark" pattern (1.0068, market by blue color). On the other hand, successful test of the lower border will strengthen the risks of decline to 0.9780. The first scenario will make the pair move towards 127.2% of the "Ideal butterfly" pattern (1.0275).

On H1 USD/CHF keeps consolidating in 0.9845-0.9895 range. The break of resistance will activate AB=CD pattern. Its 161.8% target is near 0.9945.

Recommendation: BUY 0,9895 SL 0,9845 TP1 0,9945 TP2 1,0068.



CHF

More:
https://new.fxbazooka.com/analytics/9760

 

[riki143]

EUR/USD: a new 4W lows
7/26/2016

The Eurodollar had continued the falling, bouncing from the resistance of 1.1050. On Friday, the rate of the currency pair has updated a lows of the past four weeks to 1.0950. So the downward trend is kept. Ichimoku indicator have a bearish mood: there is actual a dead cross and the cloud extends downward. After the rebounding from the Kijun-sen we expect a new lows.

Technical levels: support - 1.0950; resistance – 1.1000.

Trade recommendations:

1. Sell — 1.0990; SL — 1.1010; TP1 — 1.0950; TP2 — 1.0910.

More:
https://new.fxbazooka.com/analytics/9761

 

[riki143]

GBP/USD: the downtrend is actual
7/26/2016

The Pound has consolidated yesterday under the Tenkan-Sen and Kijun-Sen. All attempts of the bulls to returning prices to the cloud are failed. And this morning we see the forming of a new dead cross. Therefore, the downward trend in the near future may be continued.

Technical levels: support – 1.3070, 1.3100; resistance – 1.3170.

Trade recommendations:

1. Sell — 1.3170; SL — 1.3190; TP1 — 1.3060; TP2 — 1.3010.

More:
https://new.fxbazooka.com/analytics/9762

 

[riki143]

USD/JPY: the shaky dollar
7/26/2016

Tenkan-Sen and Kijun-sen formed a strong resistance, and the bulls were not able to get aboveduring yesterday’s session, despite the positive character Ichimoku cloud. The golden cross was repealed and dead cross was formed instead. The bears took this advantage and accelerated the pace of sales. As a result, trading is now continuing within the Cloud. In the near future we expect the test the lower border of the Cloud.

Technical levels: support – 103.75; resistance – 105.10.

Trade recommendations:

1. Buy — 103.75; SL — 103.55; TP1 — 105.10; TP2 — 106.15.

More:
https://new.fxbazooka.com/analytics/9763

 

[riki143]

EUR/USD: new local high coming soon because of the "Flag"
7/26/2016

The price faced a support at 1.0970, which led to form a “Double Bottom”, so we’ve got an upward correction in progress. Therefore, the market is likely going to achieve an area between the 34 Moving Average and the nearest resistance at 1.1057. If a pullback from here happens, there’ll be an opportunity to have a decline in the direction of a support at 1.0911.

As we can see on the one-hour chart, there’s a “Double Bottom” pattern, which brought bulls into the market. Also, we’ve got a “Flag”, so the pair is likely going to rise towards the 89 Moving Average. However, if a pullback from this line arrives afterwards, bears will probably try to reach a support at 1.0970 – 1.0951.

More:
https://new.fxbazooka.com/analytics/9765

 

[riki143]

EUR/USD: "Shooting Star" set up local bearish correction
7/26/2016

The pair has been moving up since a “Hammer” formed at the last low. We haven’t got any reversal pattern so far, which makes possible an achievement of the 34 Moving Average in the short term. As we can see on the Daily chart, there’s a “Hammer” at the local minimum. If it confirms, bulls will probably try to catch the nearest resistance.

We’ve got a pullback from the 89 Moving Average, which led to form a “Shooting Star” pattern, but its confirmation is a still weak. Therefore, the market is likely going to get a support on the previously formed “Three Methods” pattern. At the same time, if a pullback from this support happens, there’ll be an opportunity to see another upward movement.

More:
https://new.fxbazooka.com/analytics/9778

 

[riki143]

CAD/JPY falling inside B-wave
7/26/2016

CAD/JPY falling inside B-wave
Next sell target – 77.00
CAD/JPY has been falling sharply in the last few trading sessions inside the minor B-wave of the intermediate ABC correction (2) from June. The active B-wave started earlier – when the pair reversed down from the resistance zone lying between the resistance level 81.70 and the 50% Fibonacci correction of the previous sharp downward impulse wave (1) from April.

The pair earlier broke the pivotal support level 80.00 – which accelerated the active B-wave. CAD/JPY is likely to fall further toward the next sell target at the support level 77.00 (which reversed the (b)-wave of the previous wave A).

More:
https://new.fxbazooka.com/analytics/9779

 

[riki143]

EUR/JPY falling inside intermediate corrective wave (2)
7/26/2016

EUR/JPY falling inside intermediate corrective wave (2)
Next sell target - 112.20
EUR/JPY continues to fall inside the second intermediate corrective wave (2) – which started earlier - when the pair reversed down from the resistance zone lying between the resistance level 118.00, 50% Fibonacci correction of the previous sharp downward impulse from April and the former support trendline of the wide weekly down channel from 2015 (acting as resistance now after it was broken in June).

EUR/JPY is expected to fall further to the next sell target at the support level 112.20 (target price calculated for the completion of the active intermediate corrective wave (2)).

More:
https://new.fxbazooka.com/analytics/9780

 

[riki143]

USD/JPY: "Belt Hold" points to a possible upward correction
7/26/2016

We’ve got a “High Wave” on the closest “Window” area. So, if it confirms, the price likely going to achieve the nearest resistance level shortly. As we can see on the Daily chart, there’s an “Engulfing”, which has been confirmed strongly. Therefore, the current downward correction is likely going to be continued.

There’re a “Belt Hold” and a “Harami” at the last low. So, the market is likely going to reach the nearest resistance line during the day, which could reverse the price movement into a bearish direction.

More:
https://new.fxbazooka.com/analytics/9781

 

[riki143]

EUR/USD & Fed interest rate decision: Be aware of the bearish trendline channel
7/27/2016

Today at 18:00 GMT we'll know the Fed's interest rate decision after the two-day meeting, where the analysts are expecting a hawkish tone on monetary policy's statement. However, we cannot see strong action on US Dollar, which also has been rallying since several days ago, and the markets are waiting for further actions following Brexit's outcome, but that could be delayed, as the BoE didn't take major actions on their latest monetary policy meeting.

The technical scenario for EUR/USD at H4 chart is very interesting, ahead of FOMC meeting. There is a bearish trend line channel formation and the pair is following it. The support level of 1.0957 remains there and a very hawkish statement by Fed could trigger bullish's actions on US dollar and with that being said, EUR/USD can break lower to test the 1.0850 level. By the other hand, if the pair achieves in break the upside bearish trend line (dovish's statement), then it can reach the 1.1107 level.

More:
https://new.fxbazooka.com/analytics/9782

 

[riki143]

EUR/USD needs a fresh driver
7/27/2016

One may see on the daily EUR/USD chart that the bulls make great effort to push the pair back inside the 1.1-1.1175 channel. The nearest resistance is at 1.1072, while support is at July low (1.095).

On H1 EUR/USD is near the upper border of the bullish channel, that increases the risks of the diagonal's resistance break to the upside with the following test of 1.1035 and 1.1052. Support is near 1.0958. Traders may use strategies connected with the break of 1.0958-1.1035 consolidation range. At the same time, remain careful as there's a wider trade channel (1.089-1.1072).

More:
https://new.fxbazooka.com/analytics/9783[/URL

 

[riki143]

AUD/USD: bears aim for a breakthrough
7/27/2016

On the daily chart AUD/USD the bulls almost reached the entry point mentioned in the previous article. Aussie visited convergence area of 0.7549-0.7570, failed to close above it and then returned to the lower border of the bullish trend channel. Successful test will make the pair decline to 0.7405 and 0.7302-0.7342.

On H1 AUD/USD firstly reached 161.8% target of the pink "Shark" pattern and then activated a new "Shark pattern". It's painted in green and its target is at 0.7385. It corresponds to the lower border of the descending channel and 78.6% of the last bullish wave. This scenario will come true below 0.7449.

Recommendation: SELL 0,7449 SL 0,7535 TP 0,7302

AUD

More:
https://new.fxbazooka.com/analytics/9784

 

[riki143]

EUR/USD: bearish trend is active
7/27/2016

Technical levels: support - 1.0950; resistance – 1.1000.

Trade recommendations:

1. Sell — 1.0990; SL — 1.1010; TP1 — 1.0950; TP2 — 1.0910.

Reason: dead cross of Tenkan and Kijun, bearish Ichomoku Cloud, strong resistance formed by Tenkan-sen and Kijun-sen.

More:
https://new.fxbazooka.com/analytics/9785

 

[riki143]

GBP/USD: consolidation continues
7/27/2016

Technical levels: support – 1.3070, 1.3100; resistance – 1.3170.

Trade recommendations:

1. Sell — 1.3170; SL — 1.3190; TP1 — 1.3060; TP2 — 1.3010.

Reason: a weak range of the Cloud, dead cross of Tenkan and Kijun.

More:
https://new.fxbazooka.com/analytics/9786