Market news and trade recommendations by FBS

[riki143]

Forex Analytics

USD/JPY: weekly wave analysis
20 September 2015

Roman Petuchov

Weekly. The price keeps on growing in a long-term bullish impulse. Correction (IV) is now being formed. Growth will continue afterwards. Let's review the markup in details.

H4. Bearish impulse C is the final part of the wave flat (IV). Fourth wave of this impulse will be accomplished this week. It will become a triangle. Decline will continue afterwards.

More:
http://fxbazooka.com/en/analitycs/show/6484

 

[riki143]

Forex Analytics

Danske Bank: trade signals for September 21

Open positions:*

GBP/USD: Hold LONG at 1.5585, TAKE PROFIT 1.5819, STOP LOSS 1.5470

EUR/JPY: Hold LONG at 136.10, TAKE PROFIT 140.03, STOP LOSS 134.98

EUR/GBP: Hold LONG at 0.7303, TAKE PROFIT 0.7483, STOP LOSS 0.7213

EUR/CHF: Hold LONG at 1.0910, TAKE PROFIT 1.1186, STOP LOSS 1.0869

AUD/USD: Hold LONG at 0.7100, TAKE PROFIT 0.7373, STOP LOSS 0.7095

GBP/JPY: Hold LONG at 184.45, TAKE PROFIT 191.64, STOP LOSS 184.20

Trade ideas:

USD/JPY: BUY at 119.53, TAKE PROFIT 120.99, STOP LOSS 118.98

EUR/CAD: SELL at 1.4970, TAKE PROFIT 1.4598, STOP LOSS 1.5090

EUR/USD: Possibly SELL

USD/CHF: Possibly BUY

USD/CAD: Possibly SELL

NZD/USD: Possibly BUY

___________________________________________________________

*Danske Bank applies trailing stop orders (moved together with the price)

More:
http://fxbazooka.com/en/analitycs/show/6490

 

[riki143]

Forex Analytics

Forex trading plan for September 22

By Elizabeth Belugina

The Federal Reserve’s meeting came and went, but investors remain undecided about the global currency picture. On the one hand, the Fed delayed a rate hike. On the other hand, traders look at the other central banks for hints on whether they will ease monetary policy further.

EUR/USD was rejected down by resistance in the 1.1460 area on Friday on comments by ECB Executive Board member Benoit Coeure that monetary policy is on diverging paths in the euro zone and the United States. The expectations of additional easing by the European Central Bank are also hurting the single currency. The euro may remain under pressure until the ECB’s president Mario Draghi speaks on Wednesday. The Fed officials, on the other hand gave some hawkish remarks. EUR/USD slid to 1.1250 on Monday. Support is at 1.1215, 1.1170 and 1.1100. Resistance is at 1.1280, 1.1355 and 1.1460.

As for the Greek parliamentary election result, all in all, it supported the euro. Alexis Tsipras has strengthened his mandate as his leftwing party called Syriza got reelected and will form government together with former allies Independent Greeks. It is now widely expected that Tsipras will have enough power to continue implementing reforms on which he agreed with international creditors and ensure that Greece will get bailout money in full volume. Still, monetary policy will likely be the more important driver of the euro in the coming sessions.

GBP/USD met resistance at 1.1658 on Friday as the Bank of England’s chief economist Andy Haldane said the bank’s next move may be to cut rates, rather than raise them. Now that the Fed has sounded more dovish, traders expect cautiousness from the BoE as well. The pair is supported by 1.5515 (55-day MA) and 1.5425 (August 7 low). Resistance is at 1.5560 and 1.5660. UK will release public sector net borrowing data at 08:30 GMT.

USD/JPY so far managed to stay above 119.00. Japanese banks will remain closed on holidays on Tuesday, so beware of volatile moves. Resistance is 120.80/121.00 and 121.70. Support is at 119.50 and 119.00. The pair is influenced by the demand on the yen as a safe haven on the one hand, and higher US Treasury yields, on the other hand. So trading may remain range bound.

AUD/USD made two unsuccessful attempts to overcome the 55-day MA (0.7260) last week. Comments of the Reserve Bank of Australia’s Governor Stevens were bearish on Friday were bearish for Aussie. Support is at 0.7100 and 0.7030. Resistance is at 0.7200, 0.7260 and 0.7340. Aussie will be looking for further direction from the Fed’s officials’ comments and Chinese manufacturing PMI index on Wednesday.

More:
http://fxbazooka.com/en/analitycs/show/6495

 

[riki143]

Forex Analytics

EUR/GBP: sell target - 0.7150
22 September 2015

By: Dmitriy Chernovolov

-EUR/GBP falls inside intermediate (C)-wave
-Next sell target - 0.7150

EUR/GBP recently reversed down strongly - after making a few unsuccessful attempts to break above the resistance level 0.7350 (which is the lower border of the powerful resistance area which has been reversing the price multiple times from March, as you can see from the daily EUR/GBP chart below). The upper boundary of this resistance area stands at 0.7400. The latest downward reversal from 0.7350 started the active impulse wave 3- which belongs to the intermediate (C)-wave from August.

EUR/GBP is likely to fall further in the active waves 3 and (C) toward the next sell target at the 0.7150. Strong resistance remains at 0.7350.

More:
http://fxbazooka.com/en/analitycs/show/6503

 

[riki143]

Forex Analytics

EUR/USD: sell targets - 1.1100 and 1.1000
22 September 2015

By: Dmitriy Chernovolov

-EUR/USD reversed from resistance level 1.1400
-Next sell targets - 1.1100 and 1.1000

EUR/USD continues to fall after the recent downward reversal from the resistance level 1.1400 (which is the lower boundary of the strong resistance zone which has been reversing the price from the middle of May, as you can see below). The latest downward reversal from the resistance level 1.1400 created the daily Japanese candlesticks reversal pattern Dark Cloud Cover – marking the end of the previous intermediate ABC correction (2) from the start of September.

EUR/USD is likely to fall further in the active impulse wave (3) toward the next sell targets at the support levels 1.1100 and 1.1000. Strong resistance remains at 1.1400.

More:
http://fxbazooka.com/en/analitycs/show/6502

 

[riki143]

Forex Analytics

Danske Bank: trade signals for September 22

Open positions:*

USD/CHF: Hold LONG at 0.9690, TAKE PROFIT 0.9861, STOP LOSS 0.9640

AUD/USD: Hold LONG at 0.7100, TAKE PROFIT 0.7373, STOP LOSS 0.7095

EUR/CAD: Hold SHORT at 1.4970, TAKE PROFIT 1.4598, STOP LOSS 1.5090

GBP/JPY: Hold LONG at 184.45, TAKE PROFIT 191.64, STOP LOSS 184.20

Trade ideas:

EUR/USD: SELL at 1.1229, TAKE PROFIT 1.1087, STOP LOSS 1.1280

USD/JPY: BUY at 119.80, TAKE PROFIT 121.75, STOP LOSS 118.95

EUR/CHF: SELL AT 1.0910, TAKE PROFIT 1.0733, STOP LOSS 1.0965

NZD/USD: SELL AT 0.6350, TAKE PROFIT 0.6130, STOP LOSS 0.6462

EUR/JPY: Possibly BUY

USD/CAD: Possibly BUY

EUR/GBP: Possibly SELL

_____________________________________________________________
*Danske Bank applies trailing stop orders (moved together with the price)

More:
http://fxbazooka.com/en/analitycs/show/6501

 

[riki143]

Forex Analytics

Euro losing ground
23 September 2015

Tataiana Norkina, FBS analyst

The major currency pair on Forex continued its decline yesterday. The European currency began sharply giving ground since the very morning, after the Tenkan and Kijun lines had formed a dead cross on the four-hour timeframe. We should also note the cloud's lines reversal - Senkou Span A and B that are still supporting the bearish character of the Ichimoku cloud.

Today's trading opened with local lows update as well. The pair tested the 11th figure. A powerful support has been formed here, and the rate can bounce up off it, to the 1.1160 area. Let us also mind the pair's oversoldness.

Technical levels: support – 1.1100; resistance – 1.1160.

Trade recommendations:

1. Sell — 1.1160; SL — 1.1180; TP1 — 1.1100; TP2 — 1.1030.

More:
http://fxbazooka.com/en/analitycs/show/6511

 

[riki143]

Forex Analytics

EUR/USD: sell target - 1.1100
25 September 2015

By: Dmitriy Chernovolov

-EUR/USD reversed from resistance area
-Next sell target - 1.1100

EUR/USD continues to fall after the recent sharp downward reversal from the resistance zone lying between the resistance level 1.1300 and the 50% Fibonacci Correction of the previous sharp downward price impulse from the strong resistance level 1.1400. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Falling Star, as you can see below.

EUR/USD is likely to fall further – inside the active intermediate impulse wave (3) – toward the next sell target at the support level 1.1100 (which stopped the previous sharp intermediate impulse wave (1) at the start of this month).

More:
http://fxbazooka.com/en/analitycs/show/6535

 

[riki143]

Forex Analytics

GBP/CHF: buy target - 1.5100
25 September 2015

By: Dmitriy Chernovolov

-GBP/CHF reversed from support area
-Next buy target - 1.5100

GBP/CHF recently reversed up strongly from the support area lying between the support level 1.4900 (former upper boundary of the sideways price range, acting as support now – after it was broken previously), the support trendline of the daily up channel from May and the 38.2% Fibonacci correction of the previous sharp upward impulse from the end of August. The upward reversal from this support zone created the daily Japanese candlestick reversal pattern Hammer.

GBP/CHF is likely to rise further in the active impulse wave 3 (which belongs to the intermediate impulse (3) from August) toward the next buy target at the resistance level 1.5100 (which stopped the previous minor impulse wave (i)).

More:
http://fxbazooka.com/en/analitycs/show/6536

 

[riki143]

Forex Analytics

EUR/USD: forecast for Sep 28-Oct 4

By Elizabeth Belugina

EUR/USD found support in the 1.1100/15 area. However, we do not see potential for any sizeable increase in the single currency: it seems that what we are seeing is nothing more than consolidation. On the upside, resistance is at 1.1300/25 and 1.1400.

The euro area will release a bunch of economic data this week. The region’s September inflation figures due on Wednesday will likely confirm the expectations of more easing from the European Central Bank limiting the euro’s potential to strengthen. Moreover, there will be many speeches from the US Federal Reserve’s officials: last week the representatives of American central bank did their best to show the market that the 2015 rate hike is still on the table. This week we may hear more of such talk. In addition, traders will surely focus on the release of US non-farm payrolls on Friday – the forecast is also positive for the greenback.

Risk aversion may still provide the euro with some support. Pay attention to Chinese manufacturing PMI on Thursday: investors are still extremely worried about China’s economic growth slowdown.

This week our strategy is to sell EUR/USD in the 1.1300/1.1400 area.

H4 EUR/USD

More:
http://fxbazooka.com/en/analitycs/show/6558