Market news and trade recommendations by FBS

[riki143]

Forex Analytics
Forex trading plan for November 17

Elizabeth Belugina


Stock markets moved down on the increased geopolitical risk and the market’s risk aversion. The focus this week will be on the minutes of the Federal Reserve’s more hawkish meeting on Wednesday. On Tuesday the US will release important inflation data at 13:30 GMT. At the same time, the expectations of the Fed’s rate hike in December will probably remain in any case providing support for the US dollar.

EUR/USD once again tested levels below 1.0700, but then managed to get higher. The single currency got under negative pressure after attacks in Paris, although the bearish impact is limited as the euro has been so far perceived as a safe haven. The euro area’s October inflation figures were revised a bit to the upside on Monday. Plus the European Central Bank’s president Mario Draghi declined to comment on monetary policy in this latest speech. As a result, the pull of the bears has weakened. A daily close below 1.0700 is needed to confirm that the euro’s fall has resumed. Next support is at 1.0660 and 1.0600. Resistance is at 1.0795/1.0800. Watch German and euro area’s ZEW economic sentiment at 10:00 GMT on Tuesday.

GBP/USD faces strong resistance at 1.5260 (50% Fibo of November decline). The next resistance is at 1.5315. Support is at 1.5140 and 1.5100 ahead of 1.5000. Britain will release inflation data at 09:30 GMT. Forecast is weak (-0.1%), and a reading even worse will send the cable lower.

USD/JPY tested levels in the 122.20 area, but then returned to 123.00. In line with expectations, Japanese economy kept contracting in Q3: GDP fell by 0.3%. It means that Japan in in recession. Yet, the market’s reaction was muted, but the short-term trend line was breached to the upside. Further resistance is at 123.10, 123.60, 124.00 and 124.30. Support is at 122.00, 121.80 and 121.50.

AUD/USD is affected by the deteriorated risk sentiment. Below 0.7100 the pair is vulnerable for a decline to 0.7050. Resistance is at 0.7140 and 0.7200. The Reserve Bank of Australia will release monetary policy meeting minutes on Tuesday.

More:
https://www.fxbazooka.com/en/analitycs/show/7087

 

[riki143]

Forex Analytics
Danske Bank: trade signals for November 17

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 1.3220 (revised)

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

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

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

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

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 signals:

USD/JPY: BUY at 122.95, TAKE PROFIT 124.63, STOP LOSS 122.20

________________________________________________________________

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

More:
https://www.fxbazooka.com/en/analitycs/show/7093

 

[riki143]

Forex Analytics
EUR/USD: sell target - 1.0600
17 November 2015
By: Dmitriy Chernovolov

• EUR/USD reached sell target 1.0700
• Next sell target - 1.0600

EUR/USD continues to fall after the recent breakout of the support level 1.0700, which was set as the sell target in our previous forecast for this currency pair. The price earlier reversed down sharply from the resistance zone lying between the resistance level 1.0800 (the lower boundary of the resistance zone located between price levels 1.0800 and 1.0880). The downward reversal from this resistance zone started the active impulse wave (v) of the 3rd minor impulse wave 3 from October.

EUR/USD is likely to fall further toward the next sell target at the next pivotal support level 1.0600 (which reversed the previous sharp wave (ii) in April).

More:
https://www.fxbazooka.com/en/analitycs/show/7094

 

[riki143]

Forex Analytics
GBP/NZD: buy target - 2.3800
17 November 2015
By: Dmitriy Chernovolov

• GBP/NZD broke resistance level 2.3350
• Next buy target - 2.3800

GBP/NZD continues to rise after the pair recently broke the resistance level 2.3350 (which reversed the previous intermediate impulse wave (1) at the start of this month, as you can see below). The breakout of the resistance level 2.3350 is likely to accelerate the active intermediate impulse wave (3) – which belongs to the primary impulse wave ⑤ which started in October (when the pair reversed up from the support zone lying between the support level 2.2500, the lower daily Bollinger Band and the 50% Fibonacci Correction of the previous upward impulse ③ from April).

GBP/NZD is likely to rise in the active impulse wave (3) toward the next buy target at the next resistance level 2.3800 (former support level from September).

More:
https://www.fxbazooka.com/en/analitycs/show/7095

 

[riki143]

Forex Analytics
Forex trading plan for November 18

By Kira Iukhtenko

US Dollar remained well-supported on Tuesday: USD Index hovers slightly below the historical highs at 99.60 as we write. Demand for the greenback is propelled by the Fed's rate hike expectations and the increased social and polictical uncertainty. US October CPI came out in line with forecasts on Tuesday (+0.2% m/m), leaving the door open for a December rate hike. On Wednesday traders will focus on the FOMC meeting minutes release. The document is expected to push the expectations even higher, so be ready for more USD gains tomorrow.

EUR/USD slipped to fresh muti-year lows of 1.0640. The pair remains in a clearly-cut bearish channel. The 1.0500 mark is expected to be hit in the coming sessions. Resistance is seen at 1.0800/30. Euro zone’s economic calendar for Wednesday is empty, while on Thursday pay attention to the ECB meeting minutes.

GBP/USD hovers below the 1.5200 mark. Our bearish scenario is now in action: break below 1.5130 will open the way to 1.5000 in the near term. UK economy remains in deflation, so chances for the BOE rate hike remain subdued these days. Watch the UK retail sales on Thursday: the reading is expected to have fallen by 0.4% on October. Data could trigger a severe GBP selloff at the end of the week.

Commodity markets are trading in the red and this is a strong medium-term bearish factor for the commodity block currencies as well. AUD/USD gained some ground on Tuesday due to the neutral RBA minutes, but we stay pessimistic about the currency’s prospects. Sell on rallies to 0.7160 and target 0.6900 in the mid-term.

Get ready to buy USD/JPY on a break above 123.60. Support is seen at 122.90. Don’t miss the BOJ meeting on Thursday.

More:
https://www.fxbazooka.com/en/analitycs/show/7101

 

[riki143]

Forex Analytics
Danske Bank: trade signals for November 18

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 1.0310, STOP LOSS 1.0039

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 1.3220 (revised)

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

EUR/GBP: Hold SHORT at 0.7220, TAKE PROFIT 0.6936, STOP LOSS 0.7045 (revised)

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

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

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 signals:

USD/JPY: BUY at 122.95, TAKE PROFIT 124.63, STOP LOSS 122.20

________________________________________________________________

*Danske Bank applies trailing stop oders (moved together with the price)
More:
https://fxbazooka.com/en/analitycs/show/7105

 

[riki143]

Forex Analytics
CAD/CHF: buy target - 0.7700
18 November 2015
By: Dmitriy Chernovolov

• CAD/CHF broke pivotal resistance level 0.7560
• Next buy target - 0.7700

CAD/CHF continues to rise– following the earlier sharp breakout of the resistance zone lying at the intersection of the pivotal resistance level 0.7560 (which has been reversing this currency pair from the start of August) and the 61.8% Fibonacci correction of the previous intermediate (C)-wave from the end of April. The breakout of the resistance level 0.7560 is likely to accelerate the active minor impulse wave 3 – which belongs to the sharp (C)-wave of the primary ABC correction Ⓑ from the end of August.

CAD/CHF is likely to rise further to the next buy target at the next resistance level 0.7700. Buy stop-loss can be placed at half the daily ATR (Average True Range) below the support level 0.7560.

More:
https://fxbazooka.com/en/analitycs/show/7108

 

[riki143]

Forex Analytics
USD/CHF: buy target - 1.0200
18 November 2015
By: Dmitriy Chernovolov

• USD/CHF reached buy target 1.0100
• Next buy target - 1.0200

USD/CHF continues to rise after the recent breakout of the resistance zone lying between the resistance levels 1.0000 and 1.0100 (which was set as the buy target in our previous forecast for this currency pair). This resistance zone was strengthened by the upper resistance trendline of the wide daily up channel from the start of May (as you can see below). The breakout of this resistance area accelerated the 5th impulse wave (v) of the C-wave of the intermediate ABC correction (B) from May.

USD/CHF is likely to rise further toward the next buy target at the next resistance level 1.0200. Buy stop-loss can be placed below the support level 1.0100.

More:
https://fxbazooka.com/en/analitycs/show/7107

 

[riki143]

Forex Analytics
Danske Bank: trade signals for November 19

Open positions:

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

USD/JPY: Hold LONG at 123.35, TAKE PROFIT 124.63, STOP LOSS 122.79

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

USD/CHF: Hold LONG at 0.9820, TAKE PROFIT 1.0310, STOP LOSS 1.0039

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 1.3220

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

EUR/GBP: Hold SHORT at 0.7220, TAKE PROFIT 0.6936, STOP LOSS 0.7045 (revised)

EUR/CAD: Hold SHORT at 1.4285, TAKE PROFIT 1.3993, STOP LOSS 1.4285 (revised)

GBP/JPY: Hold LONG at 186.45, TAKE PROFIT 190.00, STOP LOSS 186.77 (revised)

Trade ideas:

EUR/CHF: BUY at 1.0830, TAKE PROFIT 1.0950, STOP LOSS 1.0789

NZD/USD: Possibly SELL

____________________________________________________________

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

More:
https://fxbazooka.com/en/analitycs/show/7118

 

[riki143]

Forex Analytics
AUD/CHF: buy target - 0.7400
19 November 2015
By: Dmitriy Chernovolov

• AUD/CHF reached buy targets 0.7130 and 0.7200
• Next buy target - 0.7400

AUD/CHF has been rising strongly in the last few days inside the accelerated minor impulse wave (iii) – which belongs to the sharp C-wave from the end of September. The active impulse wave (iii) recently broke through the resistance levels 0.7130 and 0.7200 – both of which were set in our earlier forecast as the buy targets for this currency pair. The breakout of these resistance levels intensified the bullish pressure on AUD/CHF.

The price is currently trading close to the resistance level 0.7300 (top of previous wave (iv), intersecting with the resistance trendline of the daily up channel from August). If the pair breaks above 0.7300 - AUD/CHF can then rise to the next buy target 0.7400.

More:
https://fxbazooka.com/en/analitycs/show/7120