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Market analysis and trade recommendations by FBS

EUR/USD: bullish "Flag"
1/17/2017

17-1-2017-EUR-H4.png


There’s a consolidation, which is taking place between the nearest resistance at 1.0669 and the 89 Moving Average. Also, we’ve got a “Flag” pattern, so bulls are likely going to test a resistance at 1.0697 – 1.0709. If a pullback from this area happens, there’ll be an opportunity to have another decline.

17-1-2017-EUR-H1.png


The price is consolidating in a support area between the levels 1.0655 – 1.0590. Meanwhile, there’s a “Flag” pattern, so the market is likely going to reach the nearest resistance at 1.0697 – 1.0709. Considering a possible pullback from these levels, there’s a chance to have a decline towards a support at 1.0626 – 1.0620 in the short term.

More:
https://fxbazooka.com/analytics/12067
 
GBP/USD: bulls going to close the gap
1/17/2017

17-1-2017-GBP-H4.png


The main trend is still bearish. However, we’ve got a “Thorn” and a “V-Bottom” patterns, so the price is likely going to fulfil yesterday’s “Breakaway Gap”. At the same time, bears are likely going to test a support at 1.1986 – 1.1946 later on

17-1-2017-GBP-H1.png


We’ve got a “Double Bottom” pattern, so the price is likely going to test a resistance area between the levels 1.2170 – 1.2179 during the day. If a pullback from this area happens, bears will probably try to achieve a support at 1.1986.

More:
https://fxbazooka.com/analytics/12068
 
GBP/USD: correction may finished soon
1/17/2017

Technical levels: support – 1.2060; resistance – 1.2150.

Trade recommendations:

1. Sell — 1.2150; SL — 1.2170; TP1 — 1.2060; TP2 — 1.2030.

Reason: bearish Ichimoku Cloud; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are under the strong resistance of Kijun-sen.

02-gbpusdh4(63).png


More:
https://fxbazooka.com/analytics/12070
 
AUD/USD: bulls are tested resistance
1/17/2017

Technical levels: support – 0.7490; resistance – 0.7530/40.

Trade recommendations:

1. Sell — 0.7540; SL — 0.7560; TP1 — 0.7490; TP2 — 0.7450.

Reason: bullish Ichimoku Cloud and the rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; the market is under a strong resistance.

03-audusdh4(69).png


More:
https://fxbazooka.com/analytics/12071
 
EUR/USD: bearish "Engulfing" near the "Window"[/]
1/17/2017

1701eurusdH4.png


The 21 Moving Average acted as a support, so we’ve got a local “Tweezers” pattern, which led to the last upward price movement. If the pair faces a support on the nearest “Window” bulls are likely going to move on.

1701eurusdH1.png


We’ve got a bullish “Tweezers”, which has been confirmed. Also, there’s a bearish “Engulfing” at the local high, so the market is likely going to test the lower side of the “Window” during the day.

More:
https://fxbazooka.com/analytics/12074
 
USD/JPY: bullish "Harami"
1/17/2017

1701usdjpyH4.png


We’ve got an “Evening Star”, which has been confirmed. However, there’s a bearish “Three Methods” pattern, so the price is likely going to test the nearest “Window”. If a pullback from this level happens, there’ll be an opportunity to have another upward price movement.

1701usdjpyH1.png


The 13 Moving Average acted as a resistance, so we’ve got an “Evening Star” and an “Engulfing”, which both have been confirmed. So, the nearest “Window” is likely going to be acted as a support. If so, bulls will probably try to test the 13 Moving Average once again.

More:
https://fxbazooka.com/analytics/12075
 
EUR/USD: wave 2 going to move on
1/17/2017

Image20170117165325001.png


It turns out that wave 2 is going to be continued, because we’ve got a wedge in wave [a]. Therefore, bears are likely going to deliver wave in the short term. If a pullback from 2/8 MM Level happens afterwards, there’ll be an opportunity to have another bullish impulse in wave [c] of 2.

Image20170117165325002.png


As we can see on the one-hour chart, wave (v) of [a] has just finished, so the price is likely going to form wave (a). The main intraday target is 5/8 MM Level, which could be a departure point for a local correction.

More:
https://fxbazooka.com/analytics/12076
 
EUR/NZD falling inside impulse wave 3 and (3)
1/17/2017

EUR/NZD falling inside impulse wave 3 and (3)
Next sell target – 1.4730
EUR/NZD has been falling in the last few trading sessions inside the minor impulse wave 3, which started earlier from the resistance zone lying between the pivotal resistance level 1.5220 (top of the earlier (a)-wave from December), upper daily Bollinger Band, 100-day simple moving average and the resistance trendline of the extended daily down channel from last May.

EUR/NZD is likely to fall further in the active impulse waves 3 and (3) toward the next sell target at the support level 1.4730 (low of the previous minor impulse wave 1 from December).

EURNZD_-_Primary_Analysis_-_Jan-17_1542_PM_(1_day).png


More:
https://fxbazooka.com/analytics/12077
 
GBP/USD reversed from support zone
1/17/2017

GBP/USD reversed from support zone
Next buy target - 1.2450
GBP/USD continues to rise after the earlier upward reversal from the support zone lying between the strong support level 1.2020 (which stopped the previous intermediate impulse wave (1) in October) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the earlier minor impulse wave 3, which belongs to the intermediate impulse wave (3) from December.

GBP/USD is expected to rise to the next buy target at the next resistance level 1.2450 (top of the previous minor correction 2, standing close to the 50% Fibonacci correction level of the earlier downward impulse from last month).

GBPUSD_-_Primary_Analysis_-_Jan-17_1539_PM_(1_day).png


More:
https://fxbazooka.com/analytics/12078
 
EUR/USD: bearish "Triple Top"
1/18/2017

18-1-2017-EUR-H4.png


The last “Flag” has been broken, so the price reached a resistance at 1.0709. Meanwhile, there’s a “V-Top” pattern, which has been confirmed. Therefore, the market is likely going to test the nearest support at 1.0655 – 1.0594 in the short term. If a pullback from this area happens, there’ll be an opportunity to have an upward price movement towards a resistance at 1.0709 – 1.0745.

18-1-2017-EUR-H1.png


The price faced a resistance at 1.0709, so we’ve got a “Triple Top” pattern here, which led to the current consolidation. In this case, bears are likely going to reach the closest support at 1.0626 during the day, which could be a departure point for another bullish movement.

More:
https://fxbazooka.com/analytics/12084
 
GBP/USD: "Double Top" stopped bulls
1/18/2017

18-1-2017-GBP-H4.png


Bulls went through the last “Breakaway Gap” yesterday, so the price faced a resistance at 1.2432, which led to form a “V-Top” pattern. Under this circumstances, bears are likely going to test the 55 Moving Average. If a pullback from this line happens, bulls will probably try to test the nearest resistance at 1.2432 – 1.2468.

18-1-2017-GBP-H1.png


We’ve got a “Double Top”, so the price is consolidating under a support at 1.2315. Therefore, the market is likely going to decline towards a support area between the levels 1.2271 – 1.2232. However, if we have a pullback from this area, bulls will have a chance to reach a resistance at 1.2432 – 1.2468.

More:
https://fxbazooka.com/analytics/12085
 
Key option levels for Wednesday, January 18th
1/18/2017

EUR/USD

EURUSD(107).png


Main trend Short-term period Medium-term period
Bearish Neutral
Changes in the open interest -No Data- -No Data-
Closest resistance levels 1.0734; 1.0768; 1.0787; 1.0815
Closest support levels 1.0693; 1.0667; 1.0630; 1.0581
Trading recommendations
Baseline scenario Short EUR/USD below 1.0693, with target points at 1.0667 and 1.0630
Alternative scenario Moving above 1.0734 can be considered as a signal to Buy the pair, with target at 1.0768 and 1.0787

GBP/USD

GBPUSD(96).png


Main trend Short-term period Medium-term period
Bullish Neutral
Changes in the open interest -No Data- -No Data-
Closest resistance levels 1.2418; 1.2446; 1.2480; 1.2515
Closest support levels 1.2323; 1.2275; 1.2246; 1.2215
Trading recommendations
Baseline scenario Long GBP/USD above 1.2418, with target points at 1.2446 and 1.2480
Alternative scenario Moving below 1.2323 can be considered as a signal to Sell the pair, with target at 1.2275 and 1.2246

USD/JPY

USDJPY(82).png


Main trend Short-term period Medium-term period
Bullish Bearish
Changes in the open interest -No Data- -No Data-
Closest resistance levels 113.10; 113.35; 113.70; 113.91; 114.44
Closest support levels 112.36; 112.08; 111.84; 111.51
Trading recommendations
Baseline scenario Long USD/JPY above 113.10, with the target points at 113.35 and 113.70
Alternative scenario Moving below 112.36 can be considered as a signal to Sell the pair, with target at 112.08 and 111.84

USD/CAD

USDCAD(91).png


Main trend Short-term period Medium-term period
Neutral Bullish
Changes in the open interest -No Data- -No Data-
Closest resistance levels 1.3045; 1.3122; 1.3165; 1.3219
Closest support levels 1.3021; 1.2985 (Critical); 1.2953; 1.2912
Trading recommendations
Baseline scenario Long USD/CAD above 1.3045, with the target points at 1.3122 and 1.3165
Alternative scenario Moving below 1.3021 can be considered as a signal to Sell the pair, with target at 1.2985 and 1.2953

More:
https://fxbazooka.com/analytics/12087
 
EUR/USD: bulls are feels great
1/18/2017

Technical levels: support – 1.0650; resistance – 1.0700, 1.0730.

Trade recommendations:

1. Buy — 1.0650; SL — 1.0630; TP1 — 1.0730; TP2 – 1.0790.

2. Sell — 1.0630; SL — 1.0650; TP1 — 1.0570; TP2 – 1.0515.

Reason: expanding bullish Ichimoku Cloud; horizontal Tenkan-sen and Kijun-sen cancelled the golden cross but they are formed a strong support; the prices are on the new local highs.

01-eurusdh4(81).png


More:
https://fxbazooka.com/analytics/12088
 
GBP/USD: game direction is changed
1/18/2017

Technical levels: support – 1.2300, 1.2270; resistance – 1.2370, 1.2410.

Trade recommendations:

1. Buy — 1.2300; SL — 1.2280; TP1 — 1.2370; TP2 — 1.2410.

Reason: bearish Ichimoku Cloud will changed to bullish; a new golden cross of Tenkan-sen and Kijun-sen; the prices are in a bullish zone; strong support of the Cloud.

02-gbpusdh4(64).png


More:
https://fxbazooka.com/analytics/12089
 
EUR/USD: bears going to test "Window"
1/18/2017

1801eurusdH4.png


There’s a “Shooting Star” at the local high, which has been confirmed enough. So, bears are likely going to test the nearest “Window” and the 21 Moving Average. If a pullback from these levels happens, there’ll be an opportunity to have another upward movement towards the nearest resistance.

1801eurusdH1.png


We’ve got a confirmed “Harami”, so the market is likely going to test the 55 Moving Average during the day. If we have a pullback from this line, bulls will probably try to test the last high shortly.

More:

https://fxbazooka.com/analytics/12091
 
USD/JPY: bullish "Engulfing"
1/18/2017

1801usdjpyH4.png


The price reached the lower “Window”, so we’ve got an “Engulfing” pattern here, which has been confirmed. Therefore, the pair is likely going to test the nearest “Three Methods” pattern and the 21 Moving Average, which both could be a departure point for another decline.

1801usdjpyH1.png


There’re an “Inverted Hammer” and an “Engulfing” at the local low. Moreover, we’ve got a bullish “Three Methods” pattern, so the price is likely going to test the 55 Moving Average soon. If a pullback from this level happens, bears will probably try to reach the nearest support area.

More:
https://fxbazooka.com/analytics/12093
 
EUR/USD: wave going to move on
1/18/2017

Image20170118161238001.png


We’ve got a wedge in wave [a], so wave 2 is likely going to be continued. In this case, bears are likely going to form wave in the short term. If a pullback from 2/8 MM Level arrives afterwards, there’ll be an opportunity to have wave [c] of 2.

Image20170118161238002.png


As we can see on the one-hour chart, wave (v) of [a] was ended yesterday. So, the price is likely going to form a bearish impulse in wave (a). The main intraday target is 5/8 MM Level, which could be a departure point for wave (b) of .

More:
https://fxbazooka.com/analytics/12094
 
NZD/CAD rising inside intermediate impulse wave
1/18/2017

NZD/CAD rising inside intermediate impulse wave
Next buy target – 0.9500
NZD/CAD has been rising in the last few trading sessions inside the intermediate impulse wave (3) from the start of January. The active impulse wave (3) started when the pair reversed up from the support level 0.9220 (which also stopped the previous minor correction (ii) in December). The upward reversal from this support level was accompanied by the clear bullish divergence on the daily Stochastic indicator – which intensified the bullish pressure on this currency pair.

NZD/CAD is expected to rise further toward the next buy target at the resistance level 0.9500 (which reversed the earlier waves (b) and (ii) in December).

NZDCAD_-_Primary_Analysis_-_Jan-18_1633_PM_(1_day).png


More:
https://fxbazooka.com/analytics/12095
 
rising in the minor impulse wave
1/18/2017

AUD/CAD rising in the minor impulse wave
Next buy target - 1.0000
AUD/CAD continues to rise inside the minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the end of December. The active impulse wave (3) started when the pair reversed up with the daily Japanese candlesticks reversal pattern Hammer Doji from the support area lying at the intersection of the support level 0.9640, lower daily Bollinger Band and the support trendline of the daily Falling Wedge from November.

Having recently broken the aforementioned Falling Wedge, AUD/CAD is expected to rise further in the active impulse waves 3 and (3) toward the next buy target at the resistance level 1.0000.

AUDCAD_-_Primary_Analysis_-_Jan-18_1632_PM_(1_day).png


more:
https://fxbazooka.com/analytics/12096
 
EUR/USD: bears going to test the next support
1/19/2017

19-1-2017-EUR-H4.png


The price faced a resistance at 1.0745, so we’ve got a “V-Top” here. In this case, the market is likely going to decline towards a support at 1.0578 in the short term. If a pullback from this level happens, there’ll be an opportunity to have an upward movement in the direction of the nearest resistance at 1.0697 – 1.0719.

19-1-2017-EUR-H1.png


There’s a “Triple Top” pattern, so the price was declining and finally reached the 89 Moving Average. Therefore, bears are likely going to test a support near the local uptrend. If a pullback from this area arrives, bulls will probably try to achieve a resistance at 1.0687 – 1.0719.

More:
https://fxbazooka.com/analytics/12104
 
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