Market news and trade recommendations by FBS

[riki143]

Forex Analytics
Forex trading plan for December 9

EUR/USD is trading in the 1.0880/00 area. German industrial production rose less than expected, and the euro area’s Sentix investor confidence index missed expectations as well. Still, there are no market moving news from either the euro area or the United States that will give traders new food for thoughts for traders. The same will be on Wednesday. Resistance is at 1.0900, 1.0985 (55-day MA) and 1.1030/50. Support is at 1.0795 (Monday low) and 1.0760 (November 19 high).

GBP/USD slid below 1.5000. British manufacturing production contracted by 0.4% in October. Support is at 1.4950, 1.4888 and 1.4850. Resistance is at 1.5030, 1.5100 and 1.5150.

USD/JPY fell to 123.00. Japanese Q3 GDP was revised to the upside. This together with the market’s risk aversion gave the yen the reason to strengthen. Levels of 120.50/20 are now in focus. Resistance is at 123.60.

AUD/USD dipped to 0.7200 breaking the short-term uptrend to the downside. Chinese trade data came out weak. China will release inflation figures on Wednesday morning. AUD/USD erased 50% of the advance from November lows. Next support is at 0.7155. Aussie’s divergence with the fallen iron ore is starting to influence the pair. Resistance is at 0.7250 and 0.7280.

The Reserve Bank of New Zealand will meet late on Wednesday (20:00 GMT). Manufacturing activity data released on Monday surprised to the upside, but the market is expecting the RBNZ to cut the benchmark rate by 25 bps. Among the arguments for such scenario are low commodity prices, mixed state of New Zealand’s economy and the sense that the upcoming increase in the Federal Reserve’s rate is already priced in USD rate. Support is at 0.6575 and 0.6515/00. If the RBNZ follows Australian and Canadian central banks and leaves rate unchanged, NZD/USD can jump to 0.6680 and 0.6750. It will be also important what the RBNZ signals about the further changes in the interest rate.

More:
https://fxbazooka.com/en/analitycs/show/7311

 

[riki143]

Forex Analytics
Danske Bank: trade signals for December 9

Open positions:
EUR/USD: Hold SHORT at 1.1008, TAKE PROFIT 1.0646, STOP LOSS 1.1130

USD/JPY: Hold LONG at 123.00, TAKE PROFIT 124.63, STOP LOSS 122.19

USD/CHF: Hold LONG at 0.9980, TAKE PROFIT 1.0266, STOP LOSS 0.9869

AUD/USD: Hold LONG at 0.7225, TAKE PROFIT 0.7450, STOP LOSS 0.7150

USD/CAD: Hold LONG at 1.3150, TAKE PROFIT 1.3633 (revised), STOP LOSS 1.3429 (revised)

NZD/USD: Hold LONG at 0.6640, TAKE PROFIT 0.6792, STOP LOSS 0.6590

EUR/GBP: Hold LONG at 0.7180, TAKE PROFIT 0.7377, STOP LOSS 0.7145

Trade ideas:
GBP/USD: SELL at 1.5040, TAKE PROFIT 1.4895, STOP LOSS 1.5125

EUR/JPY: BUY at 132.75, TAKE PROFIT 136.39, STOP LOSS 130.95

EUR/CHF: Possibly BUY

EUR/CAD: Possibly BUY

GBP/JPY: Possibly SELL

_________________________________________________________________

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

More:
https://fxbazooka.com/en/analitycs/show/7317

 

[riki143]

Forex Analytics

EUR/AUD: buy targets - 1.5200 and 1.5400
9 December 2015
By: Dmitriy Chernovolov

• EUR/AUD broke resistance level 1.5000
• Next buy targets - 1.5200 and 1.5400

EUR/AUD has been rising steadily in the last few trading sessions – inside the intermediate (C)-wave - which started recently – when the pair reversed up with the daily Japanese candlesticks reversal pattern Hammer from the support zone lying between the support level 1.4400 and the support trendline of the recent daily down channel from September. The pair then broke the aforementioned down channel and the round resistance level 1.5000.

EUR/AUD is likely to rise further toward the next buy targets at the next resistance levels 1.5200 and 1.5400. Buy stop-loss can be placed at half the daily ATR (Average True Range) below the recently broken price level 1.5000.

More:
https://fxbazooka.com/en/analitycs/show/7319

 

[riki143]

Forex Analytics
Forex trading plan for December 10



Oil prices returned above $40 per barrel after declining to $39.80 on Tuesday, but remained under pressure. US dollar index fell approaching December 3 lows (97.60) as American currency was hit versus the euro and Japanese yen.

EUR/USD rose to 1.0980. Germany’s trade surplus rose exceeding expectations. A break higher will bring the single currency to resistance at 1.1050 and 1.1100. Support is at 1.0850, 1.0800 and 1.0760.

GBP/USD went up above 1.5100. The Bank of England will announce its policy decision at 12:00 GMT. No changes are expected. Above 1.5110 there is potential for increase to 1.5160 and 1.5190. Support is at 1.5030/00.

USD/JPY fell below the bottom of its monthly range. Japanese yen was in demand on the back of the market’s risk aversion and news that Japanese core machinery order jumped by 10.7%, while a decline of 1.5% was expected. Daily close below 122.20 will be a negative sign, though there will be still support at 121.50. Failure here will open the way down to 120.85 and probably lower (119.50). Resistance is at 122.35 and 123.00.

AUD/USD tested 0.7172 on the downside, but then returned to the 0.7200 area. Australia will release labor market data at 00:30 GMT on Thursday, the forecast is negative. Resistance is at 0.7250 and 0.7280 and we prepare to sell Aussie at these levels. Support is at 0.7200 and 0.7155.

NZD/USD is holding above the 0.6600 support. Most economists expect the Reserve Bank of New Zealand to cut rate late on Wednesday. The meeting will be followed by 2 speeches of the RBNZ Governor Wheeler (20:05 GMT on Wednesday and 00:10 GMT on Thursday). What Wheeler says is going to be very important for the pair. Support is at 0.6500 (trend line), while resistance lies at 0.6687 and 0.6787.

More:
https://fxbazooka.com/en/analitycs/show/7322

 

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