Market news and trade recommendations by FBS

[riki143]

Forex Analytics
Forex trading plan for October 27

By Elizabeth Belugina

US dollar significantly strengthened during the last week as the ECB gave dovish comments, while the People’s Bank of China reduced interest rates. This week traders are waiting for the results of the Federal Reserve’s meeting on Wednesday (though the rate hike is not expected) and American GDP on Thursday. Demand for USD will likely temper. New home sales released on Monday were a negative surprise. The US will release durable goods orders figures at 12:30 GMT on Tuesday (some improvement after the poor previous release is expected) and consumer confidence index at 14:00 GMT (the forecast is that of a small decline).

EUR/USD rose to 1.1050 on Monday, but found resistance there. The markets now expect that the ECB will step up monetary stimulus in December, so any advance in the euro will be limited. German Ifo business climate didn’t impress the market. Resistance is at 1.1100, 1.1140 and 1.1170. Support is at 1.1000, 1.0950 and 1.0900.

GBP/USD lowered to support line since the beginning of October. The pair’s trying to fix above the 200-day MA in the 1.5335 area and return to 1.5410/30. Next strong resistance is at 1.5500. Below 1.5300 the sellers will pull the pair down to 1.5200. Next support is at 1.5165. The UK will release preliminary Q3 GDP data at 09:30 GMT. British economic growth is expected to slow down from 0.7% to 0.6%. After a very good retail sales report released last week there’s a chance of positive surprise in British GDP. In this case the pound will strengthen versus other currencies.

USD/JPY rose to 121.50. Support is at 120.70 and 120.35. Resistance is at 121.67/80. USD/JPY is supported by the expectations that the Bank of Japan will ease its policy at the end of the week, but before it actually happens, the idea probably won’t be able to drive the pair much above the resistance of September-October range. Short-term outlook is neutral/negative.

AUD/USD is still trying to hold above 0.7200 and raise higher. Friday’s high close to 0.7300 remains a resistance: Chinese easing didn’t get an extremely positive effect on the Aussie. Next resistance is the 100-day MA at 0.7320. Next support is at 0.7167 (55-day MA). The next big risk for Australian dollar is Australia’s inflation data on Wednesday.

More:
http://fxbazooka.com/en/analitycs/show/6868

 

[riki143]

Forex Analytics
CAD/JPY: sell targets - 91.00 and 90.00
27 October 2015
By: Dmitriy Chernovolov

• CAD/JPY reversed from resistance zone
• Next sell targets - 91.00 and 90.00

CAD/JPY continues to fall after the price earlier reversed down from the strong resistance zone lying at the intersection of the resistance level 92.60 (which has been reversing the price for the last few trading days) and the 38.2% Fibonacci retracement of the previous sharp downward impulse wave from the middle of June. The latest two downward reversals from this resistance zone stopped the previous corrections 2 and (2) (as can be seen below).

CAD/JPY is likely to fall further in the active impulse waves 3 and (3) (which belong to the primary downward impulse wave ③ from June) toward the next sell targets at the next support levels 91.00 and 90.00.

More:
http://fxbazooka.com/en/analitycs/show/6875

 

[riki143]

Forex Analytics
USD/CAD: buy target 1.3300
27 October 2015
By: Dmitriy Chernovolov

• USD/CAD reached buy target 1.3100
• Next buy target 1.3300

USD/CAD has been rising strongly in the last few trading sessions - breaking through the resistance level 1.3100, which was set as the buy target in our previous forecast for this currency pair. The breakout of this resistance level accelerated the active minor impulse wave 3 – which started recently – when the price reversed up from support zone surrounding the pivotal support level 1.2850 (as can be seen below).

USD/CAD is currently approaching the resistance level 1.3200. If the price breaks this resistance level - USD/CAD can then rise further to the next buy target at the next resistance level1.3300.

More:
http://fxbazooka.com/en/analitycs/show/6874

 

[riki143]

Forex Analytics
Danske Bank: trade signals for October 27

Open positions:*

EUR/USD: Hold SHORT at 1.1055, TAKE PROFIT 1.0848, STOP 1.1143

USD/JPY: Hold LONG at 120.35, TAKE PROFIT 122.13; STOP AT 119.59

GBP/USD: Hold SHORT at 1.5365, TAKE PROFIT 1.5201, STOP LOSS 1.5425

AUD/USD: Hold SHORT at 0.7217, TAKE PROFIT 0.7002, STOP LOSS 0.7312

USD/CAD: Hold LONG at 1.2970, TAKE PROFIT 1.3218, STOP LOSS 1.3030 (revised)

EUR/JPY: Hold SHORT at 134.00, TAKE PROFIT 132.23, STOP LOSS 134.35 (revised)

GBP/JPY: Hold LONG at 183.20, TAKE PROFIT 188.31, STOP LOSS 184.41

NZD/USD: Hold LONG at 0.6745, TAKE PROFIT 0.6937, STOP LOSS 0.6680

Trade ideas:

USD/CHF: BUY at 0.9770, TAKE PROFIT 0.9903, STOP LOSS 0.9708

EUR/CAD: SELL at 1.4595, TAKE PROFIT 1.4292, STOP LOSS 1.4735

EUR/GBP: Possibly SELL

EUR/CHF: Possibly BUY

_________________________________________________________

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

More:
http://fxbazooka.com/en/analitycs/show/6873

 

[riki143]

Forex Analytics
Trading plan for October 28

By Kira Iukhtenko



US Dollar has lost some ground at the beginning of the new week. Weak US data (housing, durable goods) and the expectations of the Fed pressure the US currency. The Fed is widely expected to leave interest rates unchanged this time. We’ll be monitoring the Fed’s policy statement – this will launch the further USD trade and define the risk-sentiment. Potential USD pullbacks could be used to go LONG in the medium-term.

EUR/USD has found some temporarily support at 1.1100, but we recommend selling the pair if any rallies occur. Next targets are 1.1000 and 1.0820 (medium-term target). Euro zone’s calendar for tomorrow is light, so all eyes will be glued to the Fed.

GBP/USD gave up some ground after the UK Q3 GDP release. Economy rose by only 0.5%. Break below 1.5300 confirmed our bearish forecasts and opened the way to 1.5000 in the coming days. We’ll stay bearish below 1.5500.

Another event to watch on Wednesday is the RBNZ policy meeting. The regulator is expected to hold rate unchanged at 2.75%. A flag is being constructed on the H4NZD/USD chart. We are ready to SELL below 0.6770.

More:
http://fxbazooka.com/en/analitycs/show/6882

 

[riki143]

Forex Analytics
EURUSD hushed before FOMC
28 October 2015
Tatiana Norkina, FBS analyst

EURUSD keeps consolidating in a narrow price range of 1.1020-1.1060, after the past week's collapse. The oversoldness is obvious to prevents bears from increasing pressure, although the four-hour technical picture is fully consistent with the bearish sentiment of the market participants. Indeed, the intensifying dead cross and the down expanding Ichimoku cloud are indicating the long-term sellers presence. More than that, Chinkou Span is gradually exiting the zone of oversoldness.

Today, traders are expecting the FOMC statement on interest rates. It is possible that taking advantage of the increased volatility, the bulls will even try to correct the rate deep into the channel. In any case, trading will be quite risky today.

Technical levels: support – 1.1000; resistance – 1.1060, 1.1090, 1.1150.

Trade recommendations: off the market.

More:
http://fxbazooka.com/en/analitycs/show/6885

 

[riki143]

Forex Analytics
Pound at important level
28 October 2015
Tatiana Norkina, FBS analyst

As expected, the GBP/USD currency pair has been trading inside the four-hour Ichimoku cloud recently. The bearish sentiment of the market participants, increasing since the middle of the past week, somewhat subsided after the pair felt support in the 53rd figure area. Let us remind you that here a poweful level has been formed by the cloud's lower border - Senkou Span B.

So far, this level has been held quite firmly. But a break through it would mean a rapid slide of the market under the 52nd figure. The bears would act, relying on the dead cross and the negative Ichimoku cloud.

Technical levels: support – 1.5300; resistance – 1.5400.

Trade recommendations:

1. Sell — 1.5300; SL — 1.5320; TP1 — 1.5200; TP2 — 1.5170.

More:
http://fxbazooka.com/en/analitycs/show/6886

 

[riki143]

Forex Analytics
Danske Bank: trade signals for October 28

Open positions:*

EUR/USD: Hold SHORT from 1.1055, TAKE PROFIT 1.0848, STOP LOSS 1.1143

USD/JPY: Hold LONG from 120.35, TAKE PROFIT 122.13, STOP LOSS 119.59

GBP/USD: Hold SHORT from 1.5365, TAKE PROFIT 1.5201, STOP LOSS 1.5425

USD/CHF: Hold LONG from 0.9820, TAKE PROFIT 0.9984, STOP LOSS 0.9749

AUD/USD: Hold SHORT from 0.7217, TAKE PROFIT 0.7002, STOP LOSS 0.7269 (revised)

EUR/JPY: Hold SHORT from 134.00, TAKE PROFIT 132.23, STOP LOSS 134.01

EUR/CAD: Hold SHORT from 1.4595, TAKE PROFIT 1.4292, STOP LOSS 1.4735

NZD/USD: Hold LONG from 0.6745, TAKE PROFIT 0.6937, STOP LOSS 0.6680

Trade ideas:

EUR/GBP: SELL at 0.7220, STOP LOSS 0.7026, STOP LOSS 0.7275 (revised)

USD/CAD: Possibly BUY

EUR/CHF: Possibly BUY

GBP/JPY: Possibly BUY

__________________________________________________________

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

More:
http://fxbazooka.com/en/analitycs/show/6889

 

[riki143]

Forex Analytics
USD/CHF: buy target - 1.0100
29 October 2015
By: Dmitriy Chernovolov

• USD/CHF broke pivotal resistance level 0.9900
• Next buy target - 1.0100

USD/CHF recently broke above the pivotal resistance level 0.9900 (which stopped the earlier A-wave at the start of August, as can be seen below). The breakout of this resistance level is likely to strengthen the bullish pressure on this currency pair in the coming trading sessions.

USD/CHF is expected to rise further in the active accelerated impulse wave (iii) (which belongs to the C-wave of the intermediate ABC correction (2) from the start of May) toward the next buy target at the resistance level 1.0100 (which previously stopped the extended primary ABC correction ② in March).

More:
http://fxbazooka.com/en/analitycs/show/6902

 

[riki143]

Forex Analytics
NZD/USD: sell target - 0.6600
29 October 2015
By: Dmitriy Chernovolov

• NZD/USD reversed from resistance level 0.6850
• Next sell target - 0.6600

NZD/USD continues to fall after the recent double reversal from the resistance zone lying between the resistance level 0.6850 and the 38.2% Fibonacci Correction of the previous sharp downward (C)-wave from the end of April. The first downward reversal from this resistance zone stopped the previous intermediate ABC correction (A). The latest downward reversal from the same resistance area started the C-wave of the active intermediate ABC correction (B).

NZD/USD is likely to fall further in the active waves C and (B) toward the next sell target at the next support level 0.6600. Strong resistance remains at 0.6850.

More:
http://fxbazooka.com/en/analitycs/show/6903