Market analysis and trade recommendations by FBS

[riki143]

Forex Analytics

USD/JPY: weekly wave analysis
25 January 2016
By Roman Petuchov

Daily. Corrective wave (IV) has been constructed last week. The bullish impulse (V) began soon afterwards. Prices will return to growth in the coming days.

H4. Wave (IV) has been complete by a bearish zigzag [Z]. We see a beginning of a bullish impulse wave. It will be developped further on the new week.

More:
https://fxbazooka.com/en/analitycs/show/7685

 

[riki143]

Forex Analytics

GBP/USD: weekly wave analysis
25 January 2016
By Roman Petuchov

Daily. The market is now building a quick bearish wave [C] of Y. It hasn't been finished yet.

H4. Bullish or flat correction (4) will be developped in the coming weeks. After that the price will continue to decline. While correction (4) is being developped, we recommend staying out of the market.

More:
https://fxbazooka.com/en/analitycs/show/7684

 

[riki143]

Forex Analytics

EUR/USD: weekly wave analysis
25 January 2016
By Roman Petuchov

Daily. Final part of the corrective wave (4) is now being built. We see a zigzag Z being formed.

H4. Wave is a flat tripple tripple. Wave (z) of will be constructed soon, afterwards the price will increase in a new bullish impulse.

More:
https://fxbazooka.com/en/analitycs/show/7683

 

[riki143]

Forex Analytics

AUD/USD: weekly wave analysis
25 January 2016
By Roman Petuchov

Daily. Early part of a bearish impulse C is now being constructed. After the end of the wave [1] we've seen a bullish correction [2]. It will be developped in the nearest future.

H4. It's nit so easy to forecast which form will the wave [2] take. It has a potential to become a double or a tripple zigzag. The price will move to the upside anyway.

More:
[URLhttps://fxbazooka.com/en/analitycs/show/7686]https://fxbazooka.com/en/analitycs/show/7686[/URL]

 

[riki143]

Forex Analytics

Trading plan for January 26

By Elizabeth Belugina

At the start of the week traders were reminded that uncertainty isn’t over and that the markets haven’t fully stabilized yet. Selling pressure on oil renewed as Iraq's oil production hit a record in December. Demand for the euro and Japanese yen increased, while commodity currencies suffered.

The US will release consumer confidence figures at 15:00 GMT. Traders also await the upcoming meeting of the Federal Reserve on Wednesday to see if the Fed somehow reacts to the increased volatility.

EUR/USD is holding above 1.0800. However, the expectations of additional monetary stimulus from the European Central Bank should limit the upside. The strategy remains the same: we sell the euro on rallies with small targets (remember that the euro is still bought as a safe haven). To get to 1.0950 the pair has to overcome resistance at 1.0860. Below 1.0780 the pair will likely drift to 1.0700. German Ifo business climate came below expectations (107.3 vs. 108.5) falling to 11-month low. The ECB President Mario Draghi will speak at 18:00 GMT on Monday.

GBP/USD returned above 1.4228 (2010 low) and is consolidating. The pair formed a candle with a long upper shadow on Friday. Resistance at 1.4340/60 looks rather strong, and if the pound returns below 1.4228, we will target 1.4125. A rise above 1.4340/60 is needed to confirm an interim bottom and open the way to 1.4500/50. The Bank of England’s Governor Carney will speak at 10:45 GMT. Last time he sounded bearish. Low oil prices also affect the cable negatively.

USD/JPY faces resistance at 118.70. If the pair manages to settle above this level, it will open the way up to 119.70/120.00. Declines should be limited by 117.60/50 and 117.00. Traders await the Bank of Japan’s meeting at the end of the week expecting at least some hints on the coming increase in monetary stimulus. Look for the buying opportunities.

AUD/USD ran into resistance in the 0.7000 area and will likely ease down to 0.6935 and 0.6895 ahead of 0.6835. Australian dollar will be waiting for Australia’s inflation data due on Wednesday, and the release is expected to be weaker than in the previous time that will be bearish for the Aussie.

More:
https://fxbazooka.com/en/analitycs/show/7689

 

[riki143]

Forex Analytics

Aussie at crossroads
26 January 2016
Tatiana Norkina, FBS analyst

The AUD/USD currency pair remains inside the four-hour Ichimoku cloud after the bulls failed to restore the market to the upper border level. Yesterday's trading began rather shaky, with the consolidation above the rising Tenkan-sen line. However, even the golden cross formed by the Tenkan and Kijun lines could not help the bulls gain confidence.

Therefore, the break down through the Tenkan-sen support triggered additional sales of the pair and the prices lowering to Kijun-sen. The line is currently providing support in the 0.6940 area. Let us note that this level can become critical: a break down would mean the consolidation conclusion and the major trend continuation; or if the level withstands, short-term bulls might return to the market and restore the currency pair rate to Senkou Span B.

Technical levels: support – 0.6900, 0.6940; resistance – 0.6990.

Trade recommendations:

1. Sell — 0.6970; SL — 0.6990; TP1 — 0.6830; TP2 — 0.6800.

More:
https://fxbazooka.com/en/analitycs/show/7690

 

[riki143]

Forex Analytics

NZD/JPY: sell target - 74.50
26 January 2016
By: Dmitriy Chernovolov

-NZD/JPY reversed from resistance area
-Next sell target - 74.50

NZD/JPY recently reversed down strongly from the resistance zone lying between the resistance level 77.50 (which also reversed the (ii)-wave earlier this month) and the 38.2% Fibonacci Correction of the previous sharp downward impulse wave 1 from the end of December. The downward reversal from this resistance zone continues the active intermediate impulse wave (3) - which belongs to the primary downward impulse wave ③ from the start of December.

Given the strength of the resistance zone near the resistance level 77.50 – NZD/JPY is likely to fall further to the next sell target at the support level 74.50.

More:
https://fxbazooka.com/en/analitycs/show/7699

 

[riki143]

Forex Analytics

USD/CAD: buy targets - 1.4400 and 1.4600
26 January 2016
By: Dmitriy Chernovolov

-USD/CAD reversed from support zone
-Next buy targets - 1.4400 and 1.4600

USD/CAD recently reversed up sharply from the support zone lying at the intersection of the support level 1.4140, 61.8% Fibonacci correction of the previous sharp upward impulse wave (i) from the start of January and the former resistance trendline of the recently broken daily up channel from last year (acting as support now after it was broken). The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing.

USD/CAD is likely to rise further in the active impulse waves 5 and (3) toward the next buy targets at the resistance levels 1.4400 and 1.4600.

More:
https://fxbazooka.com/en/analitycs/show/7698

 

[riki143]

Forex Analytics

Forex trading plan for January 27

By Elizabeth Belugina

The main event on Wednesday will be the Federal Reserve’s rate decision and statement at 19:00 GMT. The central bank is expected to keep monetary policy unchanged. The most important thing will be how the Fed regards financial market situation, which has considerably changed since the regulator increased rate in December. The Fed will likely acknowledge the fact that the external picture has deteriorated, but there won’t be considerable changes in the statement. Such outcome will make traders buy US dollar on the pullbacks to the downside.

EUR/USD failed to break above 1.0860, which guarded the way to 1.0950. We are focused on 1.0780, ahead of 1.0700. GBP/USD is fluctuating around 1.4228. The Bank of England’s Governor Carney said that Britain may actually cut interest rates. This is negative for the cable, which should return lower, to the minimums around 1.4100.

USD/JPY still has to settle above 118.70 to get to 119.70/120. The greenback may come under pressure before the Fed’s meeting, but we’ll be looking for the buying opportunities. The upcoming meeting of the Bank of Japan on Friday will provide support for the greenback at 117.60/00. AUD/USD has to rise above 0.7045 to confirm reversal pattern. Support is at 0.6935/20 ahead of 0.6830. Australia will release inflation figures at 00:30 GMT. Lower CPI growth, which will be negative for Aussie.

More:
https://fxbazooka.com/en/analitycs/show/7700

 

[riki143]

Forex Analytics

GBP/AUD: sell target - 2.0200
27 January 2016
By: Dmitriy Chernovolov

-GBP/AUD falling inside impulse waves 3 and (C)
-Next sell target - 2.0200

GBP/AUD has been falling in the last few trading sessions inside the 3rd minor impulse wave 3 – which started earlier this month – when the pair reversed down from the resistance area lying between the resistance level 2.1000, upper daily Bollinger Band, 38.2% Fibonacci correction of the previous downward impulse from last August and the upper resistance trendline of the daily down channel from last year.

GBP/AUD is likely to fall further in the active impulse waves 3 and (C) (which belong to the primary ABC correction ② from last August) toward the next sell target at the support level 2.0200 (low of the previous impulse 1).

More:
https://fxbazooka.com/en/analitycs/show/7708

 

[riki143]

Forex Analytics

AUD/CHF: buy targets - 0.7200 and 0.7300
27 January 2016
By: Dmitriy Chernovolov

-AUD/CHF rising inside minor wave 2
-Next buy targets - 0.7200 and 0.7300

AUD/CHF continues to rise inside the second minor corrective wave 2 – which started earlier – when the pair reversed up from the support zone lying between the support level 0.6870, lower daily Bollinger Band, 61.8% Fibonacci Correction of the previous sharp primary wave ② from August and the support trendline of the daily down channel from December.

Having recently broken the aforementioned down channel - AUD/CHF is likely to rise further from the current levels toward the next buy targets at the resistance levels 0.7200 and 0.7300 (top of previous wave (2)).

More:
https://fxbazooka.com/en/analitycs/show/7707

 

[riki143]

Almost 1 000 000 clients of FBS, we will fulfil a dream of our millionth trader!
27.01.2016
Dear clients!

The number of FBS traders is fast drawing near the 1 000 000 mark! We simply could not let it rest and decided to make the dream of our millionth registered client come true! The lucky one, that might as well be you, will make a wish and we will fulfil it shortly.

Get lucky! To participate, you just need to open an account. And who knows, maybe it will become the millionth one! FBS manager will call you at the number you specify and will ask you what you wish for. FBS will realize your dream!

After the winner is determined, we will publish the phone call recording and the photoreport with the video of the dream fulfillment later on! We are very excited to know what the lucky winner will wish for and see how his or her dream will be realized!

We would like to remind as well you that very soon FBS will be celebrating its 7th anniversary, which means that a ton of other amazing prizes are waiting for you! Not just one lucky client, but very many traders of FBS will get great gifts!

We wish you success! FBS fulfils dreams!

More:
https://fbs.com/news/almost-1-000-000-clients-of-fbs-we-will-fulfil-a-dream-of-our-millionth-trader

 

[riki143]

Forex Analytics

Forex trading plan for January 28

By Kira Iukhtenko

EUR/USD attempted to recover some ground on Wednesday, but was capped by the 1.0900 mark for now. The FOMC announcement could support the bulls later in the day, though. Technically, the pair remains in a bullish channel since late January. On Thursday the only important release to watch in euro zone is the German CPI. Local support lies at 1.0850.

Meanwhile, GBP/USD has lost some bullish power today. On Thursday we’ll watch the UK Q4 GDP. According to forecasts, economy grew by 0.5% (up from +0.4% in Q3). However, a weaker reading could easily pull the pair much lower as the overall sentiment towards GBP remains sceptic.

USD/JPY has recovered above 118.00. Watch the Japanese retail sales tonight (forecast – moderately upbeat). Market awaits the eventful Friday in Japan – the BOJ meeting and CPI are coming.

AUD/USD recovered back above 0.7000. We see an inverted “head-and-shoulders” pattern on the daily chart. It opens the way for more growth in the pair. Aussie was supported by better-than-expected inflation figures released on Wednesday (+0.4% in Q4).

More:
https://fxbazooka.com/en/analitycs/show/7714

 

[riki143]

Forex Analytics

Aussie is going to grow
28 January 2016
Tatiana Norkina, FBS analyst

A currency pair of AUD / USD continues to trade within a four-hour Ichimoku cloud, but the short-term bullish mood still remains relevant. Yesterday bulls managed to test the cloud top level, but Senkou Span B has not yet let them go in a positive area. However, staying around above the Tenkan and Kijun lines promises upturn for the pair with a resistance breakdown of 0.7075. We should mention an active gold cross is active formed by Tenkan-sen and Kijun-sen lines. Moreover, the Ichimoku cloud is tapering upwards due to Senkou Span A growth.

Technical levels: support – 0.7000, 0.7030; resistance – 0.7075, 0.7130.

Trade recommendations:

Buy — 0.7040; SL — 0.7020; TP1 — 0.7130; TP2 — 0.7160.

More:
https://fxbazooka.com/en/analitycs/show/7715

 

[riki143]

Forex Analytics

AUD/NZD: buy targets - 1.1000 and 1.1100
28 January 2016
By: Dmitriy Chernovolov

-AUD/NZD broke resistance zone
-Next buy targets - 1.1000 and 1.1100

AUD/NZD recently broke sharply through the resistance zone lying between the resistance level 1.0800, resistance trendline of the daily down channel from August and the 38.2% Fibonacci correction of the previous sharp downward corrective wave ② from the end of last August. The breakout of this resistance zone accelerated the active minor impulse wave 3 – which belongs to the intermediate impulse wave (3) from the start of January.

AUD/NZD is likely to rise further from the current levels toward the next buy target at the resistance level 1.1000 – the breakout of which can lead to further gains toward 1.1100.

More:
https://fxbazooka.com/en/analitycs/show/7720

 

[riki143]

Forex Analytics

USD/JPY is positive
28 January 2016
Tatiana Norkina, FBS analyst

Yesterday during the trading the USD/JPY currency pair escaped to a positive zone. Bulls managed to break through the upper Ichimoku cloud boundary resistance which was held since the beginning of week. But, in the late afternoon, the pair consolidated over Senkou Span B. Apparently, bulls have scruples on fast attack yet, but fixing of the price over a cloud can lead to emergence of new buyers in the market.

We will pay attention to the positive facts: Tenkan-sen and Kidzhun-sen has created a new "Golden cross"; Ichimoku cloud has changed its nature; Chinkou Span is gradually leaving the overbought area. Therefore bulls can take a revenge from their rivals today.


Technical levels: support – 118.50; resistance – 119.00, 119.40, 119.80.

Trade recommendations:
1. Buy — 118.60; SL — 118.40; TP1 — 119.40; TP2 — 119.80.

More:
https://fxbazooka.com/en/analitycs/show/7716

 

[riki143]

Forex Analytics

EUR/AUD: sell target - 1.5200
28 January 2016
By: Dmitriy Chernovolov

-EUR/AUD falling inside primary impulse wave ③
-Next sell target - 1.5200

EUR/AUD continues to fall inside the 3rd primary impulse wave ③ - which started earlier – when the pair reversed down sharply from the resistance zone lying between the resistance levels 1.6000 and 1.6200 (which reversed earlier intermediate correction (2)). This resistance zone was strengthened by the upper daily Bollinger Band and by the two trendlines belonging to 2 different-length daily up channels, as can be seen below.

EUR/AUD is currently approaching the support zone near the support level 1.5340 (which earlier reversed the price twice in this month, as can be seen below). If the pair breaks below the support level 1.5340 – the price can then fall to the next sell target 1.5200.

More:
https://fxbazooka.com/en/analitycs/show/7721

 

[riki143]

Forex Analytics

Forex trading plan for January 29
28 January 2016
By Kira Iukhtenko

EUR/USD is trying to recover on the back of the overall USD weakness, but remains capped by the 1.0950 mark (trend line). Weak German CPI and ECB easing expectations are a limiting factor. However, we could jump to 1.1000 on Friday on the US GDP. The US economic growth is expected to have slowed down to 0.8% in Q4.

GBP/USD recovered after the UK GDP came out in line with forecasts. The pair is now testing the 0.4350/60 resistance area. Fix higher would be a great signal to go long for the pair.

The market expected the BOJ meeting on Friday as well. USD/JPY is trading above 118 yen as we write. However, if BOJ gives no hints on a potential easing, the pair could lose some positions and slip into the 118-116 yen range.

As for AUD/USD, this is the champion of the week. The pair is now trading in an invers head-and-shoulders formation. Target lies at 0.7280. Weak USD and recovery of the commodity market creates room for a higher Aussie correction.

More:
URL=https://fxbazooka.com/en/analitycs/show/7723]https://fxbazooka.com/en/analitycs/show/7723[/URL]

 

[riki143]

Forex Analytics

AUD/JPY: buy target - 88.00
29 January 2016
By: Dmitriy Chernovolov

-AUD/JPY rising inside minor corrective wave (iv)
-Next buy target - 88.00

AUD/JPY continues to rise sharply inside the 4th minor corrective wave (iv) – which started earlier – when the pair reversed up from the support zone lying between the lower daily Bollinger Band and the major round support level 80.00 (as can be seen from the daily AUD/JPY chart below). The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer.

AUD/JPY is likely to rise further in the active minor correction 4 toward the next buy target at the resistance level 88.00 (intersecting with the resistance trendline of the daily down channel from November of 2014 and the 38.2% Fibonacci correction of the previous downward impulse from the top of this down channel).

More:
https://fxbazooka.com/en/analitycs/show/7728

 

[riki143]

Forex Analytics

CAD/JPY: buy target - 87.30
29 January 2016
By: Dmitriy Chernovolov

-CAD/JPY reached sell targets 80.00 and 79.00
-Next buy target - 87.30

CAD/JPY continues to rise strongly inside the 4th minor correction 4 – which started previously – when the pair reversed up with the daily Japanese candlesticks reversal pattern Hammer from the support zone lying between the support levels 80.00 and 79.00 (both of which were set as the sell targets in our previous forecast for this currency pair). The price then broke through the next resistance levels 84.00 and 85.00.

CAD/JPY is likely to rise further to the next buy target at the resistance level87.30 (previous monthly low from August, intersecting with the 38.2% Fibonacci correction of the previous extended downward impulse wave from June of 2015).

More:
https://fxbazooka.com/en/analitycs/show/7729