Market analysis and trade recommendations by FBS

[riki143]

EUR/USD: Moving Average acting as a resistance
02/27/2017

The price reached the 55 Moving Average, so we’ve got a bearish “Engulfing” pattern. At the same time, there’s a bullish “Hammer”, which has been confirmed. In this case, the market is likely going to test the 34 Moving Average. If a pullback from this line happens, bears will probably try to test the nearest support.

The upper “Window” is acting as a resistance, but we’ve got a bullish “Engulfing”. Therefore, the market is likely going to test the 144 Moving Average, which could be a departure point for another decline.

More:
https://new.fxbazooka.com/analytics/12650

 

[riki143]

USD/JPY: bulls going to test "Window"
02/27/2017

We’ve got a “Harami” and an “Inverted Hammer”. So, the price is likely going to test the upper “Window” in the short term. If we see a pullback from this level, there’ll be a chance to have another decline until any bullish pattern arrives.

There’s a bullish “Harami”, which has been confirmed enough. Therefore, the market is likely going to get a resistance on the 34 Moving Average. If a pullback from this line happens, bears will probably try to deliver a new local low.

More:
https://new.fxbazooka.com/analytics/12651

 

[riki143]

EUR/USD: wedge in wave
02/27/2017

It seems like we’ve got a wedge in wave . So, if we see a pullback from 7/8 MM Level, there’ll be an opportunity to have another decline. At the same time, a pullback from the wedge’s lower side happens, bulls are likely going to deliver an upward correction.

As we can see on the one-hour chart, there’s a possible zigzag in wave (iv). So, wave c of (iv) is likely going to be continued. However, if a pullback from 4/8 MM Level happens afterwards, there’ll be a chance to have wave (v) of shortly.

More:
https://new.fxbazooka.com/analytics/12653

 

[riki143]

EUR/CHF reversed from powerful support level 1.0630
02/27/2017

EUR/CHF reversed from powerful support level 1.0630
Next buy targets – 1.0680 and 1.0710

EUR/CHF continues to rise strongly – following the earlier upward reversal from the powerful support level 1.0630, which has been repeatedly reversing the price from eth end of January – as can be seen from the daily EUR/CHF chart below. The upward reversal from this support level stopped the previous impulse waves (iii) and 3.

EUR/CHF is expected to rise further to the next buy target at the next resistance level 1.0680 (which reversed the pair earlier this month) – the breakout of which can lead to further gains toward the next significant resistance level 1.0710 (top of the previous correction ii).

More:
https://new.fxbazooka.com/analytics/12654

 

[riki143]

GBP/JPY broke daily Triangle
02/27/2017

GBP/JPY broke daily Triangle
Next sell targets - 138.40 and 136.50

GBP/JPY continues to fall after the earlier breakout of the support trendline of the daily Triangle chart pattern from the middle of December. The breakout of this Triangle should accelerate the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) of the primary downward impulse wave ? from December.

GBP/JPY is expected to fall to the next sell target at the support level 138.40 (the low of the previous impulse wave 1) – the breakout of which can lead to further losses toward the next sell target at 136.50 (bottom of the earlier wave (1)).

More:
https://new.fxbazooka.com/analytics/12655

 

[riki143]

EUR/USD: bulls want more
02/28/2017

On the daily EUR/USD chart, the bulls keep trying to conquer the upper border of the bullish trend channel. If they succeed, the risks of advance towards 1.0710 and 1.0820 will increase. On the other hand, decline below 1.0569 will increase the odds of the euro reaching 88.6% of the "Shark" pattern target (1.0380).

On H1, the break of 1.0565 and 1.0550 will trigger the "Shark" pattern with targets at 1.0510 and 1.0475. For the pair to keep going up it should overcome resistance at 1.064.

Recommendation: SELL 1.0565, SL 1.0620, TP1 1.0475, TP2 1.0380.

More:
https://new.fxbazooka.com/analytics/12660

 

[riki143]

USD/CHF: will the bears regain the initiative?
02/28.2017

On the daily USD/CHF chart the quotes are moving within the bullish trend channel. However, the inability of the bulls to conquer resistance at 1.0105 (50% of the wave CD of the 5-0 pattern) points at their weakness. If the pair falls below support at 1.0045, this will increase the risks of a fall to 0.9945 and 0.9860.

On H1, the break of support at 1.0045 and 0.9975 will set off the "Shark" pattern. It's targets are at 88.6% (0.989) and 113% (0.9825). In order to keep moving to the north the bulls have to push USD/CHF above 1.0160.

Recommendation: SELL 1,0045 SL 1,01 TP1 0,989 TP2 0,9825.

More:
https://new.fxbazooka.com/analytics/12662

 

[riki143]

GBP/USD: pound supported by daily Cloud
02/28/2017

Technical levels: support – 1.2380; resistance – 1.2525.

Trade recommendations:

1. Buy — 1.2440/50; SL — 1.2400; TP1 — 1.2560; TP2 — 1.2640.

Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; an irregular dead cross of Tenkan-sen and Kijun-sen with the rising Kijun-sen; the prices are on the support of the Cloud.

More:
https://new.fxbazooka.com/analytics/12663

 

[riki143]

USD/JPY: Dollar has weakened
02/28/2017

Technical levels: support – 112.20, 111.60, 109.90; resistance – 113.00, 113.60.

Trade recommendations:

1. Sell — 112.50; SL — 112.80; TP1 — 111.60; TP2 — 110.00.

Reason: expanding bearish Ichimoku Cloud; a new dead cross of Tenkan-sen and Kijun-sen; the prices are on the Senkou Span B and daily support.

More:
https://new.fxbazooka.com/analytics/12664

 

[riki143]

EUR/USD: new local high is coming
02/28/2017

We’ve got a “V-Top”, which led to the last decline. However, there’s a local “V-Bottom”, so bulls are likely going to test the 89 Moving Average in the short term. If a pullback from this line happens, there’ll be an opportunity to have another decline towards a support at 1.0552 – 1.0520.

Bulls faced a support on the Moving Averages, which led to form a “V-Bottom”, so the price reached a resistance at 1.0588. Therefore, the market is likely going to achieve the next resistance at 1.0629 – 1.0640 during the day. Considering a possible pullback from this area, bears will probably try to achieve a support at 1.0569 – 1.0552 later on.

More:
https://new.fxbazooka.com/analytics/12666

 

[riki143]

GBP/USD: bulls look at the nearest resistance
02/28/2017

The price found a support at 1.2386, so we’ve got a “Double Bottom”, which has been confirmed. Therefore, the market is likely going to test an area between the 34 Moving Average and the nearest resistance at 1.2509. If a pullback from these levels happens, there’ll be an opportunity to have a decline towards a support at 1.2386 – 1.2347.

The price is consolidating near the Moving Averages. Also, there’s a “V-Top”, which pushed the market a little bit lower. Nevertheless, bulls are likely going to test the closest resistance at 1.2477 – 1.2506 during the day. If we see a pullback from this area, bears will have a chance to test a support at 1.2390 – 1.2382.

More:
https://new.fxbazooka.com/analytics/12667

 

[riki143]

Key option levels for Tuesday, February 28th
02/28/2017


EUR/USD

Main trend Short-term period Medium-term period
Neutral Neutral
Changes in the open interest -No Data- -No Data-
Closest resistance levels 1.0594; 1.0618; 1.0638; 1.0668
Closest support levels 1.0575; 1.0556; 1.0525; 1.0487
Trading recommendations
Baseline scenario Short EUR/USD below 1.0575, with target points at 1.0556 and 1.0525
Alternative scenario Moving above 1.0594 can be considered as a signal to Buy the pair, with target at 1.0618 and 1.0638

USD/JPY

Main trend Short-term period Medium-term period
Neutral Neutral
Changes in the open interest -No Data- -No Data-
Closest resistance levels 112.78; 113.15; 113.46; 113.87
Closest support levels 112.32; 111.98; 111.53; 111.01
Trading recommendations
Baseline scenario Short USD/JPY below 112.32, with the target points at 111.98 and 111.53
Alternative scenario Moving above 112.78 can be considered as a signal to Buy the pair, with target at 113.15 and 113.46

USD/CAD

Main trend Short-term period Medium-term period
Bearish Bullish
Changes in the open interest -No Data- -No Data-
Closest resistance levels 1.3205; 1.3263; 1.3339; 1.3425
Closest support levels 1.3149; 1.3104; 1.3051; 1.2982
Trading recommendations
Baseline scenario Short USD/CAD below 1.3149, with the target points at 1.3104 and 1.3051
Alternative scenario Moving above 1.3205 can be considered as a signal to Buy the pair, with target at 1.3263 and 1.3339
More:
https://new.fxbazooka.com/analytics/12669

 

[riki143]

EUR/USD: "Window" acted as a resistance
02/28/2017

The 34 & 55 Moving Averages are acting as a resistance. Also, we’ve got a bearish “Engulfing” and a “High Wave”, but a confirmation of both patterns is a quite weak. Therefore, the market is likely going to test the nearest support lever, which could be a departure point for another upward price movement.

The upper “Window” acted as a resistance, so we’ve got an “Engulfing” pattern here. At the same time, there’s a support by the 55 Moving Average. In this case, bears are likely going to test the closest resistance. If a pullback from this level happens, there’ll be an opportunity to see another decline.

More:
https://new.fxbazooka.com/analytics/12670

 

[riki143]

USD/JPY: bearish "Tweezers"
02/28/2017

There’s a bearish “Harami”, which has been confirmed. Also, the upper “Window” acted as a resistance. Therefore, the market is likely going to continue falling down until any bullish pattern arrives.

We’ve got a confirmed “Tweezers” on the “Window”, which has acted as a resistance. Considering that there isn’t any reversal pattern so far, bears are likely going to deliver a new local low during the day.

More:
https://new.fxbazooka.com/analytics/12671

 

[riki143]

AUD/CAD reversed from pivotal support level 1.0070
02/28/2017

AUD/CAD reversed from pivotal support level 1.0070
Next buy target - 1.0200

AUD/CAD continues to rise after the earlier upward reversal from the pivotal support level 1.0070 (former major resistance level which stopped the previous waves B, 1 and (i), acting as support now – after it was broken by the previous sharp upward impulse (i)). The upward reversal from the support level 1.0070 continues the active impulse wave 3.

AUD/CAD is expected to rise to the next buy target at the resistance level 1.0200 (target price calculated for the termination of the active minor impulse wave (iii)).

More:
https://new.fxbazooka.com/analytics/12674

 

[riki143]

EUR/USD: euro going to negative area
3/1/2017

Technical levels: support – 1.0560, 1.0500; resistance – 1.0590.

Trade recommendations:

1. Sell — 1.0550/60; SL — 1.0580; TP1 — 1.0500; TP2 – 1.0460.

Reason: bearish Ichimoku Cloud, but rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, but the narrow channel Tenkan-Kijun; the prices are going out from the Cloud.

More:
https://new.fxbazooka.com/analytics/12679

 

[riki143]

GBP/USD: bears attacked again
3/1/2017

Technical levels: support – 1.2345; resistance – 1.2450, 1.2480.

Trade recommendations:

1. Buy — 1.2345; SL — 1.2325; TP1 — 1.2450; TP2 — 1.2480.

Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen; the prices are in negative area, but there is a strong support on 1.2340/45.

More:
https://new.fxbazooka.com/analytics/12680

 

[riki143]

EUR/USD: bears going to test the next support
3/1/2017

There’s a “Triple Top”, which has been confirmed, so the price came back into downward channel. So, the market is likely going to test the nearest support at 1.0520 – 1.0493 in the short term. If a pullback from this area happens afterwards, there’ll be an opportunity to have another bullish price movement in the direction of the next resistance at 1.0578 – 1.0588.

All Moving Averages have been broken, so bears are likely going to reach a support at 1.0520 – 1.0493 in the short term. However, if we see a pullback from this area, bulls will probably try to test a resistance between the levels 1.0578 – 1.0588.

More:
https://new.fxbazooka.com/analytics/12681

 

[riki143]

Morning brief for March 1
03/01/2017

President Trump’s speech was the main focus of the past session. There was a lot of food for political debates, while economists were left with empty stomachs as the US President didn’t provide them with the details of the border adjustment tax reform. In general, the main points for markets were:

Trump voiced the need to provide a substantial tax relief to the middle-income swath.
Also, he said that he will cut corporate tax rates.
Trump plans to spend $1 trillion on the infrastructure.
But there were no specifics, so the market participants were disappointed.

The tailwind for the USD was the gist of the hawkish comments from the Fed’s senior officials that revived the talk over a March hike (with the probabilities of a rate increase banding at around 60-80%). The USD gained across the trading board in the course of the Asian session, so Trump’s speech lacking details on the tax reforms was a pinch for the USD, not a substantial loss.

The euro slid below 1.0550 overnight. Today’s focus will be on the German preliminary CPI, manufacturing data from leading Eurozone economies, German unemployment change.

GBP/USD declined to 1.2360 overnight mainly on the massive strengthening of the greenback. Keep an eye on the UK manufacturing PMI data and net lending to individuals both coming at 11:30 am MT time. The current weak undertone is still intact. The pound will likely slide further towards the support at 1.2350. Once it is broken out, GBP may extend its losses to 1.2260.

Aussie was trading choppily in the Asian session. First, it moved below the support at 0.7640, then rebounded on the upbeat Australian GDP figures to 0.7700. At the current moment, the prices are moving above the 0.7660. AUD/USD may rise higher on the session towards the nearest resistance 0.7675 (the lower border of Ichimoku cloud on the H4 timeframe). A move above the 0.7700 will open the way for a further uplift towards 0.7710/0.7740.

USD/CAD spiked to 1.3322 overnight. Today’s focus will on the Canadian rate statement that should be delivered at 5:00 pm MT time. Most market analysts expect the BoC to stay on hold. Oil prices jumped to $56.50 from yesterday’s low at $55.20 in the Asian session.

More:
https://new.fxbazooka.com/analytics/12682

 

[riki143]

GBP/USD: "Double Top" led to decline
3/1/2017

There’s a “Double Top”, which has been confirmed, so we’ve got a new low. In this case, the pair is likely going to decline towards a support at 1.2315 – 1.2277 in the short term. Meanwhile, bulls will probably try to test a resistance at 1.2386 – 1.2432 afterwards.

We’ve got a confirmed “Double Top” under the 89 Moving Average. Therefore, the pair is likely going to continue falling down towards a support at 1.2315. If a pullback from this level be on the table, there’ll be an opportunity to have a bullish price movement in the direction of the closest resistance at 1.2390 – 1.2450.

More:
https://new.fxbazooka.com/analytics/12683