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Forex trading plan for Feb. 12

 

Elizaveta Belugina

 

On Wednesday US dollar remained supported with the US yields near 1-month highs. USD/JPY rose above 120.00. Next resistance levels are at 120.80 and 121.80. Support is in the 119.20/00 area.

 

AUD/USD is testing support at 0.7720. Below this level the pair can test 0.7600/0.7590. Watch Australian employment data at 00:30 GMT tomorrow: the forecasts are negative. Resistance is at 0.7850.

 

GBP/USD is making another test of the 7-month downtrend resistance line supported by the decline of EUR/GBP. Pound looks resilient despite lower than expected data from the UK on Tuesday. The Bank of England will release inflation report tomorrow commented by Governor Mark Carney. If the central bank forecasts negative inflation, sterling will get seriously hit.

 

At the moment of writing EUR/USD is consolidating in a very narrow range around 1.1300 preparing for a violent move as traders get more nervous. Support is at 1.1210 and resistance is at 1.1440. The EU economic summit will take place on Thursday. Here you can read more on the schedule of the Greek talks.

 

Later in the day on Thursday watch the US retail sales data: according to the forecasts, the figures will be better than in the previous release, but the indicator will still decline. This should limit the strength of the USD bulls.

 

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MARKET NEWS

Feb. 12: FOREX NEWS

 

FXBAZOOKA.com - The market remains in the situation of great uncertainty. Euro initially jumped on CNBC headlines that a Greece agreement had been reached 'in principle'. Further information showed, however, that no deal was reached between Greece and other euro zone governments on Wednesday. EUR/USD is in the 1.1300/1355 area. The European Council’s meeting is to take place later on Thursday, and the market participants await comments from the European political leaders on the Greek question.

 

Risk sentiment also depends on geopolitical developments as France, Germany, Russia and Ukraine negotiated in Belarus through Wednesday night and into Thursday morning in order to defuse the escalating conflict in eastern Ukraine. However, there are fears that the peace deal wouldn’t last long. USD/JPY edged down a bit after rising almost to 120.50 on Wednesday, but is still trading above the 120 handle.

 

Crude oil rebounded as Saudi Arabia and Russian energy giant Gazprom discussed cooperation between OPEC and its non-OPEC oil producers. US crude oil rose by 1.3% to $49.45 a barrel after dropping as much as 3% overnight as US stockpiles hit record highs.

 

AUD/USD fell below 0.7650 after weak jobs data increased prospects for further easing by the Reserve Bank of Australia. The nation’s unemployment rate jumped from 6.1% to 6.4%.

 

Here are the main economic events for today:

http://fxbazooka.com/upload/tiny/Analytics/2015/February/11/12-02-2015%20economic%20calendar.jpg

 

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MARKET NEWS

Feb. 12: FOREX NEWS

 

FXBAZOOKA.com - The market remains in the situation of great uncertainty. Euro initially jumped on CNBC headlines that a Greece agreement had been reached 'in principle'. Further information showed, however, that no deal was reached between Greece and other euro zone governments on Wednesday. EUR/USD is in the 1.1300/1355 area. The European Council’s meeting is to take place later on Thursday, and the market participants await comments from the European political leaders on the Greek question.

 

Risk sentiment also depends on geopolitical developments as France, Germany, Russia and Ukraine negotiated in Belarus through Wednesday night and into Thursday morning in order to defuse the escalating conflict in eastern Ukraine. However, there are fears that the peace deal wouldn’t last long. USD/JPY edged down a bit after rising almost to 120.50 on Wednesday, but is still trading above the 120 handle.

 

Crude oil rebounded as Saudi Arabia and Russian energy giant Gazprom discussed cooperation between OPEC and its non-OPEC oil producers. US crude oil rose by 1.3% to $49.45 a barrel after dropping as much as 3% overnight as US stockpiles hit record highs.

 

AUD/USD fell below 0.7650 after weak jobs data increased prospects for further easing by the Reserve Bank of Australia. The nation’s unemployment rate jumped from 6.1% to 6.4%.

 

Here are the main economic events for today:

http://fxbazooka.com/upload/tiny/Analytics/2015/February/11/12-02-2015%20economic%20calendar.jpg

 

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MARKET NEWS

Key option levels

 

12 February 2015

 

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT).

 

Here are the key options expiring today:

 

EUR/USD: 1.1335 (EUR 876m);

 

GBP/USD: 1.5000 (GBP 300m);

 

USD/JPY: 119.00 (USD 2.3bln), 119.25/30 (USD 515m), 120.75/80 (USD 1.25bln), 121.00 (USD 2.6bln);

 

AUD/USD: 0.7700 (AUD 3.4bln), 0.7800 (AUD 2.6bln);

 

NZD/USD: 0.7700 (NZD 402m);

 

EUR/GBP: 0.7400, 0.7475 (EUR 216m).

 

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Forex Analytics

Danske Bank: trade signals for Feb. 12

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.1310, TAKE PROFIT 1.1098, STOP LOSS 1.1401

 

USD/JPY: Hold LONG at 117.35, TAKE PROFIT 121.00, STOP LOSS 119.15 (revised)

 

USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

USD/CAD: Hold LONG at 1.2470, TAKE PROFIT 1.2775, STOP LOSS 1.2445 (revised)

 

EUR/JPY: Hold LONG at 134.30, TAKE PROFIT 137.31, STOP LOSS 134.02

 

NZD/USD: Hold LONG at 0.7330, TAKE PROFIT 0.7495, STOP LOSS 0.7320

 

EUR/CAD: Hold LONG at 1.4225, TAKE PROFIT 1.4645, STOP LOSS 1.4125

 

GBP/JPY: Hold LONG at 175.85, TAKE PROFIT 184.40, STOP LOSS 181.95

 

Trade ideas:

 

GBP/USD: SELL at 1.5310, TAKE PROFIT 1.5139, STOP LOSS 1.5380

 

AUD/USD: SELL at 0.7725, TAKE PROFIT 0.7580, STOP LOSS 0.7800 (revised)

 

EUR/GBP: SELL

 

EUR/CHF: BUY

 

__________________________________________________________

 

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

 

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Forex Analytics

Forex trading plan for Feb. 13

 

EUR/USD sits tight in the 1.1355/1.1270 area. The Greek debt deal is put off until the next week. The main questions are whether the bailout is extended and on what conditions as well as what happens to Greek banks. As there’s a hope for compromise, euro’s holding its ground. There’s a risk of a short squeeze to the upside on positive news about Greece. On Friday watch the releases of French, German and the euro area GDPs (06:30-10:00 GMT). So far euro didn’t react much to the economic data releases, and Friday may be no different.

 

USD/JPY didn’t stay above 120 for a long time and spiked down to 118.72 before once again recovering to the 119.50 area. The pair fluctuated on the news about the Ukraine. There also were some reports that Bank of Japan’s officials are concerned about the negative effects of additional stimulus. Plus US retail sales data was a big disappointment. Still, USD/JPY has breached a big wedge/triangle to the upside, so the medium-term outlook is bullish. If the support at 119.20 and 118.70 (55-day MA) holds, it will be a good sign.

 

GBP/USD jumped to 1.5365 as the Bank of England’s Governor Mark Carney said that the next move of the central bank will likely be to raise interest rates. For now traders have turned optimistic about GBP. As long as support at 1.5185/1.5200 holds, the odds will be of sterling rising to 1.5475. Note that pound faces resistance at 1.5380 (55-day MA, bottom of the bearish daily Cloud).

AUD/USD was hit as the worries that the Reserve Bank of Australia will cut interest rates in March have returned. It would be interesting to see what the RBA’s Governor Stevens has to say about the unexpected surges in Australian unemployment as he speaks tonight. Aussie can fall towards 0.7550 if he sounds dovish. Resistance is at 0.7700 and 0.7786.

 

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MARKET NEWS

Feb. 13: FOREX NEWS

 

FXBAZOOKA.com - Risk sentiment is positive on news of a ceasefire accord in Ukraine, hopes of a close deal between Greece and its creditors and the rate cut in Sweden.

 

EUR/USD rose to 1.1440. The euro area will release GDP for Q4 at 10:00 GMT: economists expect a stagnant growth of 0.2%. Concerns about the future of Greece eased as the nation agreed to begin technical talks with its euro zone partners ahead of the decisive meeting on Monday in attempt to find a compromise solution of the bailout problem.

 

Oil prices were firm after gains steered by deeper industry spending cuts and lower USD. Brent crude futures held at $59.10 per barrel.

 

USD/JPY found some support at 118.40. The level of 119.10 is now a resistance. GBP/USD is trying to hold above 1.5400. AUD/USD rose to 0.7790 as the RBA’s Governor Glenn Stevens said nothing really new and didn’t provide additional verbal pressure on the national currency.

 

The economic calendar for today:

http://fxbazooka.com/upload/tiny/Analytics/2015/February/12/13-02-2015%20economic%20calendar.jpg

 

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Forex Analytics

Danske Bank: signals for Feb. 13

 

OPEN POSITIONS*:

 

EUR/CHF: LONG AT 1.0510, TAKE PROFIT 1.0800, STOP LOSS 1.0525

 

EUR/CAD: LONG AT 1.4225, TAKE PROFIT 1.4645, STOP LOSS 1.4150

 

USD/JPY: LONG AT 119.30, TAKE PROFIT 121.86, STOP LOSS 118.29

 

USD/CHF: LONG AT .8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

AUD/USD: SHORT AT .7725, TAKE PROFIT 0.7580, STOP LOSS.7800

 

EUR/JPY: LONG AT 135.55, TAKE PROFIT 137.64, STOP LOSS 134.59

 

TRADE IDEAS:

 

EUR/USD: BUY at 1.1363, TAKE PROFIT 1.1499, STOP LOSS 1.1298

 

USD/CAD: SELL at 1.2545, TAKE PROFIT 1.2314, STOP LOSS 1.2650

 

GBP/JPY: BUY at 182.00, TAKE PROFIT 187.30, STOP LOSS 180.15

 

NZD/USD: BUY at 0.7400, TAKE PROFIT 0.7551, STOP LOSS 0.7350

 

GBP/USD: BUY

 

EUR/GBP: SELL

 

______________________________________

 

*Traders apply trailing stop orders

 

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MARKET NEWS

Feb. 16: FOREX NEWS

 

FXBAZOOKA.com - EUR/USD edged up as traders hope that by the end of the day the euro zone finance ministers will find solution of the Greek financial problems. In the US today is the bank holiday (the Presidents’ Day).

 

USD/JPY is trading in the 118.55 area after touching levels above 120.00. According to the data released on Sunday, Japanese GDP increased by 0.6% in the final 3 months of 2014 after sliding by 0.5% in the previous quarter. Such improvement made investors reduce bets on additional monetary stimulus from the Bank of Japan.

 

GBP/USD edged up to 1.5440. Pound is supported by the recent hawkish-sounding comments of the Bank of England’s policymakers. Both Governor Mark Carney and his deputy, Ben Broadbent, have said the next move in interest rates is likely to be up. Martin Weale, a policymaker at the central bank, added that the central bank will need to start raising interest rates sooner than investors expect as inflation recovers from current low levels.

 

Among commodity currencies, the Canadian dollar strengthened a bit as USD/CAD declined on signs of a bottom in oil prices. On Friday Brent crude hit a 2015 high above $60 a barrel.

 

The main events for today:

http://fxbazooka.com/upload/tiny/Analytics/2015/February/16/16-02-2015%20economic%20calendar.jpg

 

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Forex Analytics

Danske Bank: trade signals for Feb. 16

 

Open positions*:

 

USD/CHF: Hold LONG from 0.8750, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

AUD/USD: Hold SHORT from 0.7725, TAKE PROFIT 0.7580, STOP LOSS 0.7800

 

EUR/JPY: Hold LONG from 135.55, TAKE PROFIT 137.64, STOP LOSS 134.59

 

EUR/CHF: Hold LONG from 1.0510, TAKE PROFIT 1.0800, STOP LOSS 1.0525

 

EUR/CAD: Hold LONG from 1.4225, TAKE PROFIT 1.4645, STOP LOSS 1.4150

 

Trade ideas:

 

EUR/USD: BUY at 1.1383, TAKE PROFIT 1.1534, STOP LOSS 1.1298

 

GBP/USD: BUY at 1.5350, TAKE PROFIT 1.5500; STOP AT 1.5265

 

GBP/JPY: BUY at 182.00, TAKE PROFIT 187.30, STOP LOSS 180.15

 

NZD/USD: BUY at 0.7450, TAKE PROFIT 0.7609, STOP LOSS 0.7405

 

USD/JPY: BUY at 117.90/80

 

USD/CAD: SELL

 

EUR/GBP: SELL

 

_____________________________________________________________

 

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

 

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Forex Analytics

Forex trading plan for Feb. 17

 

By Kira Iukhtenko

 

EUR/USD consolidates above 1.1400 on Monday. Euro is supported by expectations that the euro zone finance ministers will find a solution of the Greek financial problems by the end of the day. There is hope that even if a compromise can't be reached - the ECOFIN meeting on Tuesday is another chance. You should also watch the February ZEW economic indices for euro zone (51.3 expected) and Germany (56.2 expected) tomorrow (10:00 GMT). Next bullish targets for EUR/USD are seen at 1.1500/30 and at 1.1670 and could be hit on the positive news from Greece or strong ZEW indices. On the other hand, a decline below the intraday support of 1.1360 would open the way down to 1.1280.

 

https://www.youtube.com/watch?v=4KPOFDhCl-A

 

GBP/USD holds above the 55-day MA (1.5360), but is trading in the red zone. The cable is trying to enter the daily Ichimoku, supported by the BOE’s Carney hawkish speech delivered last week. Don’t miss the UK inflation figures tomorrow at 9:30 GMT. CPI is expected to have slowed from 0.5% to 0.3% in January, so the release contains a bearish risk for the pound inside. Next resistance lies at 1.5475 (23.6% Fibo), while support – at 1.5350 and 1.5200. The nearest future will show how sustainable the current rally is.

 

USD/JPY stopped dead in the 118.30/70 range. Today we’ve got some upbeat news from Japan: GDP increased by 0.6% in Q4 2014 after sliding by 0.5% in the previous quarter. Expectations for additional monetary stimulus from the Bank of Japan declined. Tomorrow there are no releases on the Japan’s agenda. The BOJ monthly meeting takes place on Wednesday.

 

NZD/USD was a big mover on Monday, gapping higher on upbeat New Zealand Q4 retail sales figures. Kiwi approached 50% Fibo from the late-January decline (0.7520). Break higher would open the way to 0.7600/20. AUD/USD consolidates around 0.7780 following the last week’s dip below the 0.7700 figure. Watch the RBA monetary policy meeting minutes at 00:30 GMT on Tuesday – we’ll see how dovish the regulator sounds. The release will impact both the Aussie and the kiwi.

 

Monday is a bank holiday in the United States. On Tuesday the Empire State Manufacturing Index will be released (forecast - downbeat). On Wednesday markets will focus on FOMC meeting minutes. This publication will likely define the market sentiment towards the US dollar more clearly.

 

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MARKET NEWS

Feb. 17: FOREX NEWS

 

EUR/USD fell from the levels above 1.1400 to the 1.1320 area. Euro fell as Greece and the euro area didn’t reach agreement on further financing of the country. Greek finance minister Yanis Varoufakis rejected a proposal to request a 6-month extension of the bailout program. Still the euro’s decline is limited as most traders expect a debt deal to be made at the last minute. The head of the Eurogroup Jeroen Dijsselbloem said that Greece has until Friday to request an extension. Varoufakis said that Greece will return to negotiating as it’s willing to extend the current aid program, but only on the right terms. “We are ready and willing to do whatever it takes to reach an honorable agreement over the next 2 days,” he stated.

 

Commodity currencies are holding their ground versus USD. AUD/USD is trading on the upside in the 0.7800 area. According to the minutes of the Reserve Bank of Australia’s February meeting, the central bank debated whether to cut interest rates this month or next, but then decided to do it earlier.

 

USD/JPY is little changed in the 118.50 area. GBP/USD is trading just above 1.5350 waiting for the UK inflation data.

 

Here are the most important evens for today:

http://fxbazooka.com/upload/tiny/Analytics/2015/February/17/17-02-2015%20economic%20calendar.jpg

 

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Forex Analytics

Danske Bank: trade signals for Feb. 17

 

Open positions*:

 

EUR/USD: Hold LONG from 1.1383, TAKE PROFIT 1.1534, STOP LOSS 1.1298

 

USD/CHF: Hold LONG from 0.8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

AUD/USD: Hold SHORT from 0.7725, STOP LOSS 0.7800, Possibly BUY

 

EUR/CHF: Hold LONG from 1.0510, TAKE PROFIT 1.0800 FIRST, STOP LOSS 1.0525

 

EUR/CAD: Hold LONG, Possibly SELL

 

GBP/JPY: Hold LONG from 182.00, TAKE PROFIT 187.30, STOP LOSS 180.15

 

Trade signals:

 

GBP/USD: BUY at 1.5325, TAKE PROFIT 1.5500, STOP LOSS 1.5265

 

EUR/JPY: SELL at 134.80, TAKE PROFIT 132.73, STOP LOSS 135.60

 

EUR/GBP: SELL at 0.7457, TAKE PROFIT 0.7307, STOP LOSS 0.7517

 

NZD/USD: BUY at 0.7475, TAKE PROFIT 0.7609, STOP LOSS 0.7405

 

USD/JPY: BUY at 117.88/67

 

USD/CAD: Possibly SELL

 

__________________________________________________________

 

*Traders apply trailing-stop orders (moved together with the price)

 

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Forex Analytics

Forex trading plan for Feb. 18

 

EUR/USD recovered to the 1.1440 area. The fate of Greece remains undecided, but the market remains hopeful. However, it looks like the final decision won’t be made until Friday. The uncertainty may give bears the power to push the pair to 1.1300 and lower. On Wednesday the ECB will review the program which currently allows Greek banks to get liquidity from the Bank of Greece. If the ECB bans the program, this will add more pressure on Greek politicians to accept the bailout and thus can render the euro support after an initial decline.

 

The overall market sentiment about the US dollar in general will depend on America’s statistics (building permits, PPI, industrial production) and the FOMC meeting minutes. Let me remind you that USD strengthened after the Fed’s January meeting as the central bank improved estimates of the US economy. At the same time, the central bank has a wait-and-see approach, so we don’t expect big hints on further interest rates moves.

 

GBP/USD may be forming a wedge. The pair’s still feeling pressure from the daily Ichimoku Cloud. Lower than expected British inflation data has diminished the enthusiasm of the bulls. In addition, the decline of EUR/GBP has paused. Support for GBP/USD is at 1.5260 and then in the 1.5155 area. Resistance is at 1.5480 and 1.5540. Watch the UK labor market data and the Bank of England’s meeting minutes at 09:30 GMT. Members of British central bank will likely votes to keep rates unchanged. This may calm the bulls.

 

USD/JPY is facing resistance at 119.20. The top at 120.47 is still dominating the market. Support is in the 188.30 area. A decline below this point will trigger a bigger selloff activating a head & shoulders pattern. During the Asian session pay attention to the Bank of Japan’s meeting. No further monetary stimulus is expected, and this may increase demand for JPY.

 

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MARKET NEWS

Feb. 18: FOREX NEWS

 

EUR/USD is consolidating just at 1.1400. The European Central Bank will decide later today whether to maintain emergency lending to Greek banks which have so far been rapidly losing deposits. If the ECB refuses to increase the ceiling on the emergency lending assistance, Greek banks will get in trouble as they have almost used up all 65 billion euros granted so far.

 

Chinese Lunar New Year holidays started today, so some Asian markets will be closed in the coming days. As a result, currency trading during the Asian session should be calmer, though news will have bigger impact on exchange rates.

 

AUD/USD is trading above 0.7800 supported by the news of the proposed $5.1 billion takeover of Toll Holdings, Australia’s biggest freight firm, by Japan Post Holdings.

 

USD/JPY is trading in the 119.20 area after an initial decline to 118.87. The Bank of Japan left monetary policy unchanged, but upgraded its assessment of exports and output.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/18/18-02-2015%20economic%20calendar.jpg

 

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Forex Analytics

Danske Bank: trade signals for Feb. 18

 

Open positions*:

 

EUR/USD: Hold LONG from 1.1383, TAKE PROFIT 1.1534, STOP LOSS 1.1298

 

USD/JPY: Hold LONG from 118.70, TAKE PROFIT 120.48, STOP LOSS 117.98

 

GBP/USD: Hold LONG from 1.5325, TAKE PROFIT 1.5500, STOP LOSS 1.5265

 

USD/CHF: Hold LONG from 0.8755, TAKE PROFIT 0.9445, STOP LOSS 0.9168

 

EUR/CHF: Hold LONG from 1.0510, TAKE PROFIT 1.1002, STOP LOSS 1.0548 (revised)

 

GBP/JPY: Hold LONG from 182.00, TAKE PROFIT 187.30, STOP LOSS 181.00 (revised)

 

Trade ideas:

 

AUD/USD: BUY at 0.7775, TAKE PROFIT 0.7907, STOP LOSS 0.7715

 

EUR/JPY: BUY at 135.05, TAKE PROFIT 137.64, STOP LOSS 133.90

 

EUR/GBP: SELL AT 0.7457, TAKE PROFIT 0.7307, STOP LOSS 0.7517

 

NZD/USD: BUY at 0.7475, TAKE PROFIT 0.7619, STOP LOSS 0.7405

 

EUR/CAD: SELL

 

__________________________________________________________

 

*Traders apply trailing-stop orders (moved together with the price)

 

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MARKET NEWS

Key option levels

 

18 February 2015

 

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT).

 

Here are the key options expiring today:

 

EUR/USD: 1.1300 (EUR 2bln), 1.1350 (EUR 500m), 1.1400 (EUR 1.95bln), 1.1430 (EUR 471m);

 

GBP/USD: 1.5350 (GBP 200m);

 

USD/JPY: 117.90/118.00 (USD 1.9bln), 118.50 (USD 1.4bln), 119.00 (USD 828m) 119.50 (USD 2.2bln);

 

USD/CHF: 0.9385 (USD 200m), 0.9500 (USD 463m);

 

AUD/USD: 0.7715 (AUD 557m), 0.7815 (AUD 240m);

 

AUD/JPY: 91.15 (AUD 350m);

 

EUR/JPY: 135.25 (EUR 200m), 136.40 (EUR 412m);

 

EUR/GBP:0.7500 (EUR 412m).

 

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Forex Analytics

Trading plan for Feb. 19

 

By Kira Iukhtenko

 

The Greek question continues dominating the EUR/USD pair. On Wednesday the exchange rate slipped below the 1.1400 support. Daily close below 1.1360 would be a bearish signal, opening the way towards 1.1310 and 1.1270. Resistance is seen at 1.1450. There is a market speculation that the ECB faces resistance from Germany to allow extra emergency lending for Greek banks. Earlier in the day Greece accused the Eurogroup of changing the draft they previously agreed on Tuesday just at the last minute.On Thursday the ECB is scheduled to release Monetary Policy Meeting Accounts for the first time, trying to increase transparency.

 

GBP/USD jumped to 1.5440 after the arrival of UK employment data. Unemployment rate lowered to 5.7% in December, while average wages rose from 1.7% to 2.1%. Later in the day the BOE minutes showed MPC voted unanimously to leave monetary policy unchanged. Despite the upbeat news, we remain skeptical about the long-term GBP/USD prospects: UK consumer prices keep on falling, playing against the rate hike expectations. Technically, the bulls could face resistance at the 1.5475 barrier. Watch the UK CBI Industrial Order Expectations on Thursday.

 

USD/JPY consolidates around the 119.00 mark. The yen met some buying interest on Wednesday after the BOJ left its monetary policy unchanged. Watch the Japanese trade balance on Thursday night. Demand for the commodity currencies remains limited. AUD/USD pulled down from the 0.7800 resistance area, while NZD/USD failed to overcome the 0.7600 mark (50% Fibonacci). New Zealand is scheduled to release PPI tonight.

 

https://www.youtube.com/watch?v=SZGnCws9pY4

 

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Forex Analytics

Danske Bank: trade signals for Feb. 19

 

Open positions*:

 

EUR/USD: Hold LONG at 1.1383, TAKE PROFIT 1.1534, STOP LOSS 1.1298

 

USD/JPY:Hold LONG at 118.70, TAKE PROFIT 120.48, STOP LOSS 117.98

 

GBP/USD:Hold LONG at 1.5325, TAKE PROFIT 1.5500, STOP LOSS 1.5265

 

USD/CHF:Hold LONG at 0.8755, TAKE PROFIT 0.9650, STOP LOSS 0.9282

 

AUD/USD:Hold LONG at 0.7775, TAKE PROFIT 0.7907, STOP LOSS 0.7715

 

USD/CAD:Hold SHORT at 1.2420, TAKE PROFIT 1.2200, STOP LOSS 1.2501

 

EUR/GBP: Hold LONG at 0.7397, TAKE PROFIT 0.7574, STOP LOSS 0.7332

 

EUR/CHF: Hold LONG at 1.0510, TAKE PROFIT 1.1002, STOP LOSS 1.0548

 

GBP/JPY: Hold LONG at 182.00, TAKE PROFIT 187.30, STOP LOSS 181.00

 

Trade ideas:

 

EUR/JPY: BUY at 135.05, TAKE PROFIT 137.64, STOP LOSS 133.90

 

NZD/USD: BUY at 0.7475, TAKE PROFIT 0.7619, STOP LOSS 0.7405

 

EUR/CAD: Possibly BUY

 

______________________________________________________________

 

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

 

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Forex Analytics

Forex trading plan for Feb. 20

 

Greece is the main topic for EUR/USD as it made a request for a 6-month credit which got rejected by Germany. The Eurogroup meeting will take place tomorrow. There are many levels to watch on the upside and the downside. Support for euro is at 1.1355, 1.1330, 1.1270 and 1.1200. Resistance is in the 1.1440/50 area and at 1.1500. Volatility is going to increase as the fate of Greece will be determined in the hours to come. Most traders still expect a last-minute compromise. The euro area will release flash PMI data on Friday.

 

GBP/USD met resistance at 1.5480 (23.6% Fibo of July-January decline) before more resistance in the 1.5550/5600 area. Watch British retail sales figures at 09:30 GMT (forecast is negative). Support is at 1.5400 and a fall below this level will jeopardize the ongoing positive tone making the pair vulnerable for a decline to 1.5350 and 1.5300.

 

USD/JPY is now caught between 119.40 and 118.40. The consolidation will likely continue. AUD/USD is capped by strong resistance at 0.7850. Support is at 0.7720 and 0.7625.

 

https://www.youtube.com/watch?v=bUbtp6yOyq0

 

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http://fxbazooka.com/en/analitycs/show/3742

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Forex Analytics

Danske Bank: trade signals for Feb. 20

 

Open positions*:

 

EUR/USD: Hold LONG at 1.1383, TAKE PROFIT 1.1534, STOP LOSS 1.1298

 

USD/JPY: Hold LONG at 118.70, TAKE PROFIT 120.48, STOP LOSS 117.98

 

GBP/USD: Hold LONG at 1.5325, TAKE PROFIT 1.5541, STOP LOSS 1.5335

 

USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 0.9602, STOP LOSS 0.9345

 

AUD/USD: Hold LONG at 0.7775, TAKE PROFIT 0.7907, STOP LOSS 0.7715

 

EUR/JPY: Hold LONG at 135.05, TAKE PROFIT 137.64, STOP LOSS 133.90

 

EUR/GBP: Hold LONG at 0.7397, TAKE PROFIT 0.7574, STOP LOSS 0.7342

 

EUR/CHF: Hold LONG at 1.0510, TAKE PROFIT 1.1002, STOP LOSS 1.0629

 

GBP/JPY: Hold LONG at 182.00, TAKE PROFIT 187.30, STOP LOSS 181.45

 

Trade ideas:

 

USD/CAD: BUY at 1.2475, TAKE PROFIT 1.2697, STOP LOSS 1.2416

 

NZD/USD: BUY at 0.7475, TAKE PROFIT 0.7619, STOP LOSS 0.7405

 

EUR/CAD: Possibly BUY

 

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http://fxbazooka.com/en/analitycs/show/3747

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GBP/JPY: trade opportunity

20 February 2015, 10:10

 

By Dima Chernovolov

 

GBP/JPY reached buy targets 180.00 and 182.00

 

• Next buy target - 186.00

 

GBP/JPY recently rose sharply – breaking above the two resistance levels 180.00 and 182.00, which were set as the buy targets in our previous technical analysis report for this currency pair. The breakout of these resistance levels continues the active primary Ⓒ-wave from the start of February. The price recently corrected shortly down inside the second intermediate correction (2) of this Ⓒ-wave toward the former resistance level 182.00 (acting as support now after it was broken by the previous impulse (1)).

 

The price then reversed up from 182.00 with the daily Japanese candlesticks reversal pattern Bullish Engulfing (highlighted below). GBP/JPY is likely to rise further to the next buy target at 186.00.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/20/GBPJPY%20-%20Primary%20Analysis%20-%20Feb-20%200953%20AM%20%281%20day%29.png

 

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http://fxbazooka.com/en/analitycs/show/3757

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NZD/CHF: trade idea

 

20 February 2015

 

By Dima Chernovolov

 

NZD/CHF breaks resistance level 0.7090

 

• Next buy targets - 0.7200 and 0.7300

 

NZD/CHF has been rising steadily in the last couple weeks – in line with our earlier forecast for this currency pair. The price earlier broke above the resistance levels 0.6900 and 0.7000, which were set previously set as the buy targets for NZD/CHF. The breakout of these resistance levels accelerated the upward movement of this currency pair – helping NZD/CHF break above the next pivotal resistance level 0.7090 (former major support level which reversed the pair sharply in May of 2012 and in August of 2013, as you can see from the weekly NZD/CHF chart below).

 

NZD/CHF is likely to continue to rise strongly in the coming trading sessions toward the next buy targets 0.7200 and 0.7300. Buy stop-loss can be placed below the broken resistance level 0.7090.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/20/NZDCHF%20-%20Primary%20Analysis%20-%20Feb-20%200946%20AM%20%281%20week%29.png

 

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http://fxbazooka.com/en/analitycs/show/3755

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USD awaits Yellen's testimony

23 February 2015

 

By: Kira Iukhtenko

 

According to the Federal Reserve's minutes of Jan. 27-28 meeting, many FOMC members think that the interest rates should stay near 0 for a longer time period because of low inflation and other risks. The central bank wants to see signs of continuing economic growth and recovery in inflation before raising rates. Policy minutes became a negative surprise for the dollar bulls.

 

Does it mean that we have to drop our June rate hike expectations? I’d better not judge hastily. The labor market is showing an upbeat dynamics over the past moths. What’s more, a stronger oil price recovery in the coming months would support the US inflation.

 

On the new week the US currency is expected to strengthen ahead of the Janet Yellen’s testimony on Tuesday, Feb. 24. She could pay attention to the positive economic developments that took place over the past weeks. Yellen is unlikely to discuss hate hike terms, but “hawks” would be grateful for any optimistic comments. You should also pay attention to the consumer price index on Thursday and to the preliminary Q4 GDP on Friday.

 

https://www.youtube.com/watch?v=f0YLH2opl8w

 

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http://fxbazooka.com/en/analitycs/show/3758

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EUR/USD: another eventful week

23 February 2015, 10:34

 

Another eventful week is in store for the euro. On Monday Germany will release Ifo Business Climate index. On Tuesday the euro zone’s final inflation data for January will be published: according to the initial estimate, consumer prices contracted by 0.6%. This was the first decline since late 2009.

 

In addition, the ECB’s President Mario Draghi will speak on Tuesday and Wednesday. Pay special attention to the second one as Draghi will testify to the European Parliament.

 

On Thursday the ECB will conduct the third round of TLTRO. Within this program the ECB will provide liquidity to commercial banks of the region so that they could lend to the real economy. Usually TLTRO leads to lower long-term interest rates and weakens euro. The higher is the demand for credit from commercial banks, the stronger is the bearish impact on euro. On Friday watch important economic data from Germany and France.

 

Despite risks associated with Greece, market players are rather calm and may remain so supporting the single currency. Temporary solution of the Greek problem will be positive for the euro. Resistance for EUR/USD lies at 1.1500 and 1.1650. Support is at 1.1200 and 1.1100.

 

https://www.youtube.com/watch?v=p9ipHKe0k5I

 

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http://fxbazooka.com/en/analitycs/show/3760

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