Market news and trade recommendations by FBS

[riki143]

Forex Analytics
Danske Bank: trade signals for November 13

Open positions:*

EUR/USD: Hold SHORT at 1.0720, TAKE PROFIT 1.0458, STOP LOSS 1.0835

USD/CHF: Hold LONG at 0.9820, TAKE PROFIT 1.0240, STOP LOSS 0.9833

USD/CAD: Hold LONG at 1.3150, TAKE PROFIT 1.3457, STOP LOSS 1.3190 (revised)

EUR/JPY: Hold SHORT at 133.35, TAKE PROFIT 129.62, STOP LOSS 133.45 (revised)

EUR/GBP: Hold SHORT at 0.7220, TAKE PROFIT 0.7026, STOP LOSS 0.7160

EUR/CHF: Hold SHORT at 1.0825, TAKE PROFIT 1.0690, STOP LOSS 1.0845

GBP/JPY: Hold LONG at 186.45, TAKE PROFIT 190.00, STOP LOSS 185.35

NZD/USD: Hold LONG at 0.6525, TAKE PROFIT 0.6745, STOP LOSS 0.6451

Trade ideas:

GBP/USD: SELL at 1.5256, TAKE PROFIT 1.4960, STOP LOSS 1.5330

USD/JPY: Possibly BUY

EUR/CAD: Possibly SELL

AUD/USD: Possibly BUY

_______________________________________________________________________

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

More:
https://www.fxbazooka.com/en/analitycs/show/7056

 

[riki143]

Forex Analytics
USD/CAD: buy target - 1.3420
13 November 2015
By: Dmitriy Chernovolov

• USD/CAD reached buy target 1.3300
• Next buy target - 1.3420

USD/CAD recently reached the resistance level 1.3300, which was set as the buy target in our previous forecast for this currency pair. The active impulse wave 3 (which belongs to the 5th intermediate impulse wave (5) from the middle of October) recently broke the resistance trendline of the daily Triangle from the end of September – which intensified the bullish pressure on this currency pair.

USD/CAD is likely to rise further in the active impulse waves 3 and (5) toward the next buy target at the next resistance level 1.3420 (which stopped the B-wave of the previous ABC correction (4)).

More:
https://www.fxbazooka.com/en/analitycs/show/7057

 

[riki143]

Forex Analytics
USD/CHF: buy target - 1.0100
13 November 2015
By: Dmitriy Chernovolov

• USD/CHF reversed from parity
• Next buy target - 1.0100

USD/CHF recently reversed down from the upper resistance trendline of the wide daily up channel from May.The subsequent downward correction today reversed up from the support zone lying between the parity and the 38.2% Fibonacci Correction of the previous upward impulse wave from the start of this month.

Given the strength of the support at parity and the fact that the pair is currently moving inside the 3rd minor impulse wave (iii) of the C-wave of the intermediate ABC correction (B) from May - USD/CHF can be expected to rise further to the next buy target at 1.0100. Buy stop-loss can be placed at half the daily ATR (Average True Range) below the parity.

More:
https://www.fxbazooka.com/en/analitycs/show/7058

 

[riki143]

Forex Analytics
USD/JPY: forecast for November 16-22

Elizabeth Belugina

USD/JPY corrected down from 123.60 to the 122.50 area. Demand for Japanese yen as a safe haven increased after Chinese data this week renewed concerns about the global economy. On such background the approaching US rate hike will make investors even more worried. Still, the US has a bond yield advantage over Japan, and this will provide the greenback with fundamental support.

Next week pay attention to the release of Japan’s GDP on Monday. The odds are that the Japanese economy will keep contracting in Q3 after declining in Q2. The data release will be followed by the Bank of Japan’s meeting on Thursday. Although the market generally does not expect the Bank of Japan to add monetary stimulus at this time, weak economic figures leave this option on the table. This is another factor to limit the decline of USD and Japanese Yen.

The current decline in USD/JPY looks like a correction. Support is at 122.00, 121.50 and 121.00. Resistance is at 123.00, 123.60 and 124.30. Pay attention to the US data as well: if the readings aren’t very bright, then the pair will be in no hurry to move up.

More:
https://www.fxbazooka.com/en/analitycs/show/7063

 

[riki143]

Forex Analytics
EUR/USD: forecast for November 16-22

Elizabeth Belugina

EUR/USD remained under bearish pressure, but found some support just below 1.0700 as investors’ risk sentiment was not very bright, and demand for lower-yielding euro increased in comparison with the demand for the US dollar.

The European Central Bank remains ready to ease policy in the near future. The ECB president Mario Draghi claimed that the stronger euro accounts for the euro area’s weak inflation outlook. Next week Draghi will speak 2 more times – on Monday and Friday. As the regulator’s head has so far been dovish, we think that he will continue stick to this line, so his speeches represent bearish risks for the euro. German economic growth has slowed a bit in Q3. The same happened with euro area’s economy. The news are moderately negative.

Apart from Draghi’s speeches next week pay attention to the euro area’s final October inflation on Monday and ZEW economic sentiment for Germany and the euro area on Tuesday. Data from the US will be also important for the pair.

Large speculators significantly increased net shorts on the euro in the recent weeks, the market has become more bearish, and so the risk of an abrupt short covering is now higher. Still, levels of 1.0900/50 – former support line of 2015 – represent strong resistance for the single currency, and once reached will provoke a new wave of selling. Support is at 1.0700, 1.0660, 1.0600 and 1.0520. As, for now, we have probably already seen the most of the pair’s decline on monetary divergence between the US and the euro area, the pace of decline will likely slow down and EUR/USD has some grounds to stabilize and consolidate a bit.

More:
https://www.fxbazooka.com/en/analitycs/show/7062

 

[riki143]

Forex Analytics
US Dollar: forecast for November 16-22
13 November 2015
By Kira Iukhtenko

US Dollar retraced a little lower on the past week, but we review this move as a wave of profit taking. The Fed’s officials stepped into the market with a bunch of comments, but there was nothing limiting the December rate hike there. However, we concede that the US officials will try to talk the greenback down in the coming weeks.

The general picture remains bullish for the US currency. A 70% chance for a rate hike in December, calculated by CME, is pushing the USD longs up. US stock indices are beginning to price the move in: we’ve seen a powerful decline on the past week.

Traders all over the world will be monitoring the US economic data. As for the new week, watch the US October CPI on Tuesday and the FOMC meeting minutes on Wednesday. We’ll see whether the October 28 meeting was as hawkish as the market understood.

More:
https://www.fxbazooka.com/en/analitycs/show/7065

 

[riki143]

Forex Analytics
GBP/USD: forecast for November 16-22

By Kira Iukhtenko

British currency remains highly volatile: GBP/USD has recovered 50% Fibonacci from the early November rally. Buyers faced resistance at 1.5250. You may see a symmetrical triangle on the H4 chart.

We see two ways to trade the cable on the new week. According to the first scenario, the pair will resume the decline. In this case, we advise selling from 1.5170 with a medium-term target at 1.50. The second scenario is bullish: the pair could extend the upside and push to 1.5300 and 1.5380. Given the USD bullish potential, we tend to the first, bearish scenario.

Next week on Tuesday, we’ll pay attention to the UK and US inflation data. Make sure you don’t miss the UK retail sales on Thursday.

Chart. H4 GBP/USD

More:
https://www.fxbazooka.com/en/analitycs/show/7064

 

[riki143]

Forex Analytics
Danske Bank: trade signals for November 16

Open positions:*

EUR/USD: Hold SHORT at 1.0720, TAKE PROFIT 1.0458, STOP LOSS 1.0835

GBP/USD: Hold SHORT at 1.5256, TAKE PROFIT 1.4960, STOP LOSS 1.5330

USD/CHF: Hold LONG at 0.9820, TAKE PROFIT 1.0240, STOP LOSS 0.9833

AUD/USD: Hold LONG at 0.7125, TAKE PROFIT 0.7297, STOP LOSS 0.7055

USD/CAD: Hold LONG at 1.3150, TAKE PROFIT 1.3457, STOP LOSS 1.3190

EUR/JPY: Hold SHORT at 133.35, TAKE PROFIT 129.62, STOP LOSS 132.83 (revised)

EUR/GBP: Hold SHORT at 0.7220, TAKE PROFIT 0.6936 (revised), STOP LOSS 0.7115 (revised)

EUR/CHF: Hold SHORT at 1.0825, TAKE PROFIT 1.0690, STOP LOSS 1.0845

GBP/JPY: Hold LONG at 186.45, TAKE PROFIT 190.00, STOP LOSS 185.35

NZD/USD: Hold LONG at 0.6525, TAKE PROFIT 0.6745, STOP LOSS 0.6451

Trade ideas:

USD/JPY: Look for the opportunities to BUY

EUR/CAD: SELL at 1.4285, TAKE PROFIT 1.3993, STOP LOSS 1.4390

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

More:
https://www.fxbazooka.com/en/analitycs/show/7080

 

[riki143]

Forex Analytics
CHF/JPY: buy target - 123.00
16 November 2015
By: Dmitriy Chernovolov

• CHF/JPY reversed from support level 121.30
• Next buy target - 123.00

CHF/JPY continues to rise after the recent sharp upward reversal from the support level 121.30 (which also previously reversed the earlier strong minor impulse wave 1 at the end of October, as you can see below). The price earlier broke through the support level 122.20, which was set in our previous forecast as the sell target for this currency pair.

Given the strength of the support level 121.30 - CHF/JPY can be expected to correct up further to the next buy target at the resistance level 123.00 (which reversed previous minor correction 2), intersecting with the 38.2% Fibonacci Correction of the previous sharp downward impulse wave 1. Buy stop-loss can be placed below the aforementioned support level 121.30.

More:
https://www.fxbazooka.com/en/analitycs/show/7084

 

[riki143]

Forex Analytics
EUR/GBP: buy target - 0.7100
16 November 2015
By: Dmitriy Chernovolov

• EUR/GBP reached sell target 0.7040
• Next buy target - 0.7100

EUR/GBP today reversed up sharply - after the price reached the pivotal support level 0.7040, which was set as the sell target in our previous forecast for this currency pair. This support level also previously reversed the price sharply at the start of this month and in the middle of August – as you can see from the daily EUR/GBP chart below.

Given the strength of the support level 0.7040 and the fact that the daily Stochastic indicator has not yet fully recovered from the oversold territory - EUR/GBP can be expected to correct up further to the next buy target at the next resistance level 0.7100. EUR/GBP is likely to reverse down after reaching 0.7100.

More:
https://www.fxbazooka.com/en/analitycs/show/7085