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USD/JPY: expect further consolidation

23 February 2015

 

Last week USD/JPY consolidated: the pair was sold on approaches to 119.50 and bought in the 118.20/40 area. The sideways movement of the pair may continue. On the one hand, US dollar breached December-January triangle to the upside which is theoretically a medium term positive signal. Resistance is at 120.82 and 121.84. On the other hand, decline below the breached triangle in the 118.00 area will give the bears power to test 117.30/00.

 

The minutes of the January Fed’s meeting turned out to be more dovish than expected. American data aren’t very sustainable. The Bank of Japan, on the other hand, has improved its assessment of Japanese economy. In the last months of 2014 Japan has finally emerged from recession. Recently Abe’s government has announced a year of reforms.

 

On Monday Japan will release the minutes of the Bank of Japan’s meeting. On Friday don’t miss important statistics from Japan including inflation, retail sales and industrial production.

 

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Forex Analytics

 

GBP/AUD: trade idea

23 February 2015

 

By: Dima Chernovolov

 

GBP/AUD reverses from support level 1.9600

Next buy target - 2.0000

GBP/AUD earlier reversed down from resistance level 2.0000, intersecting with the upper resistance trendline of the wide daily up channel from September of 2014. The latest downward correction from 2.0000 today reversed up from the support level 1.9600 (former resistance from the start of this month, which also reversed this currency pair last week, as you can see from the daily GBP/AUD chart below).

 

The pair is likely to rise further from the current levels toward the next buy target 2.000 inside the active minor impulse wave 3, which belongs to the 3rd intermediate impulse wave (3) from the middle of November. If the downward correction resumes - GBP/AUD will most likely fall to the nearby support level 1.9400 (intersecting with the 38.2% Fibonacci Correction of the previous impulse 3) – from where the price is expected to reverse up toward 2.0000.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/23/GBPAUD%20-%20Primary%20Analysis%20-%20Feb-23%201012%20AM%20%281%20day%29.png

 

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USD/JPY: target at 120.50

23 February 2015

 

By Dima Chernovolov

 

• USD/JPY reversed from support zone near 118.50

 

• Next buy target - 120.50

 

USD/JPY recently reversed up from the combined support zone lying between the following support levels: support level 118.50 (former resistance level which reversed the price multiple times in the second half of January), the former resistance trendline of the recently broken daily Triangle from December (acting as support now after it was broken earlier) and the 38.2% Fibonacci Correction of the previous upward impulse from the strong support level 116.00 (which reversed the pair with the daily Bullish Engulfing in January and in last December, as you can see below).

 

USD/JPY is expected to continue to rise in the coming trading sessions toward the next buy target 120.50 (which reversed the price strongly on the 12th of February).

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/23/USDJPY%20-%20Primary%20Analysis%20-%20Feb-23%201028%20AM%20%281%20day%29.png

 

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Danske Bank: trade signals for Feb. 24

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.1320, TAKE PROFIT 1.1000, STOP LOSS 1.1451

 

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

 

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

 

USD/CAD: Hold LONG at 1.2475, TAKE PROFIT 1.2800, STOP LOSS 1.2501

 

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

 

NZD/USD: Hold LONG at 0.7510, TAKE PROFIT 0.7619, STOP LOSS 0.7450

 

Trade signals:

 

GBP/USD: BUY at 1.5405, TAKE PROFIT 1.5588, STOP LOSS 1.5328

 

EUR/JPY: BUY at 134.10, TAKE PROFIT 136.70, STOP LOSS 133.50

 

EUR/GBP: SELL at 0.7385, TAKE PROFIT 0.7254, STOP LOSS 0.7465

 

EUR/CAD: Possibly BUY

 

_____________________________________________________

 

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

 

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Key option levels

24 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: 1.1285 (EUR 1.3bln), 1.1300 (EUR 1.3bln), 1.1315 (EUR 543m)

 

USD/JPY: 118.00 (USD 428m), 118.50/60 (USD 290m), 119.55 (USD 300m), 119.75 (USD 517m)

 

AUD/USD:0.7800/10 (AUD 325m)

 

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EUR/GBP: trade idea

24 February 2015

 

By Dima Chernovolov

 

EUR/GBP reached sell targets 0.7380 and 0.7340

Next sell targets - 0.7300 and 0.7200

 

EUR/GBP has been falling sharply in the last 2 weeks – reaching the two sell targets that were set in our earlier forecast for this currency pair (0.7380 and 0.7340). The price recently corrected shortly up to test the former support level 0.7430 (acting as resistance now after it was broken by the active minor impulse earlier this month) – from where it reversed down sharply and continues to fall at the time of the writing.

 

The pair is currently approaching the support trendline of the wide weekly down channel from the middle of 2011 (as you can see from the weekly EUR/GBP chart below). If EUR/GBP breaks and closes below this support trendline, the pair can then fall to the next sell targets 0.7300 and 0.7200 (forecast price for the completion of the active impulse 3).

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/24/EURGBP%20-%20Primary%20Analysis%20-%20Feb-24%201012%20AM%20%281%20week%29.png

 

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AUD/USD: next sell target

24 February 2015

 

by Dima Chernovolov

 

AUD/USD reversed from resistance zone

 

• Next sell target - 0.7640

 

AUD/USD yesterday reversed down from the resistance zone lying between the resistance level 0.7860 (which also previously reversed the price at the start of February, as you can see below), the 38.2% Fibonacci Correction of the previous downward impulse from the end of the earlier intermediate correction (4) (which stopped in the middle of January), and the upper daily Bollinger Band. The downward reversal form this resistance zone created the Japanese candlesticks reversal pattern – Dark Cloud Cover.

 

With the daily RSI still trading in the neutral territory, AUD/USD will most likely continue to fall in the nearest time - in line with the strong downtrend visible on the daily charts – toward the next sell target 0.7640 (which reversed the price twice earlier this month).

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/24/AUDUSD%20-%20Primary%20Analysis%20-%20Feb-24%201016%20AM%20%281%20day%29.png

 

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Large banks: positioning on EUR/USD

24 February 2015

 

Danske Bank holds SHORT from 1.1320, TAKE PROFIT 1.100, STOP LOSS 1.1451 (entered on Feb. 24)

 

Bank of America Merill Lynch is ready to SELL from 1.1290, TAKE PROFIT 1.0765, STOP LOSS 1.1451 (entered on Feb. 23)

 

Morgan Stanley holds SHORT from 1.1370, TAKE PROFIT 1.0700, STOP LOSS 1.1470 (entered on Feb. 6)

 

Citi holds SHORT from 1.1368, TAKE PROFIT 1.0000, STOP LOSS 1.1690 (entered on Feb. 6)

 

Credit Suisse holds SHORT from 1.1390, TAKE PROFIT 1.1105, STOP LOSS 1.1505 (entered on Feb. 5)

 

BNP Paribas holds SHORT from 1.1450, TAKE PROFIT 1.0800, STOP LOSS 1.1680 (entered on Feb. 3)

 

Crédit Agricole holds SHORT from 1.1340, TAKE PROFIT 1.0600, STOP LOSS 1.1680 (entered on Feb. 3)

 

JPMorgan holds SHORT from 1.1250, TAKE PROFIT 1.0100, STOP LOSS 1.1700 (entered on Jan. 26)

 

Danske Bank holds from 1.1578, TAKE PROFIT 1.0900, STOP LOSS 1.1940 (entered on Jan. 20)

 

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Forex trading plan for Feb. 25

 

EUR/USD is leaning to the downside. Support is at 1.1260 and 1.1200. Greece has revealed the list of reforms. According to the European Commission, this is a valid starting point. However, investors see now that Greek question won’t be solved soon, so upside potential for the euro is limited. The ECB president Mario Draghi will make speak on Wednesday at 16:30 GMT and may comment on monetary policy.

 

GBP/USD remains capped by the 1.5480 resistance (23.6% Fibo). Next resistance lies at 1.5589 and 1.5800, support – at 1.5370. The Bank of England’s Governor Carney said today UK inflation turn negative in the nearest future, but it’s expected to recover quickly. BOE notes stable wage growth. Carney will also speak tomorrow at 10:00 GMT. On Thursday watch the second Q4 GDP estimate (no changes expected).

 

USD/JPY keeps trading sideways. The pair rose above 119.40. This opens the way up to 119.60 and 120.00/25. Support is located at 118.33/27 and buyers should become active in case of decline to this point. Below 118.27 a decline towards 117.30 is possible.

 

Aussie dollar keeps on consolidating above the 0.7700 mark. However, the pair was once again rejected by resistance at 0.7850 on Monday. On Wednesday watch the release of China’s HSBC Flash Manufacturing PMI at 01:45 GMT.

 

https://www.youtube.com/watch?v=dLqDS5o101A

 

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Danske Bank: trade signals for Feb. 25

 

Open positions:

 

EUR/USD: Hold SHORT from 1.1320, TAKE PROFIT 1.1000, STOP LOSS 1.1451

 

GBP/USD: Hold LONG from 1.5405, TAKE PROFIT 1.5588, STOP LOSS 1.5328

 

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

 

AUD/USD: Hold LONG from 0.7775, TAKE PROFIT 0.8033, STOP LOSS 0.7735

 

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

 

GBP/JPY: Hold LONG from 182.00, TAKE PROFIT 187.30, STOP LOSS 182.50

 

NZD/USD: Hold SHORT from 0.7490, STOP LOSS 0.7540

 

Trade signals:

 

EUR/JPY: BUY at 134.17, TAKE PROFIT 135.94, STOP LOSS 133.50

 

EUR/GBP: SELL at 0.7380, TAKE PROFIT 0.7254, STOP LOSS 0.7435

 

EUR/CAD: SELL at 1.4230, TAKE PROFIT 1.3805, STOP LOSS 1.4345

 

USD/CAD: SELL at 1.2545, TAKE PROFIT 1.2353, STOP LOSS 1.2620

 

USD/JPY: Look to BUY

 

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Forex trading plan for Feb. 26

 

EUR/USD remains mostly flat. The pair’s waiting for fresh catalysts. The ECB’s President Mario Draghi is to speak on Wednesday at 16:30 GMT and may make some comments on monetary policy. On Thursday Germany releases a set of data on unemployment numbers, retail sales figures and Gfk consumer confidence data. The euro area will publish business climate and M3 money supply data. Meanwhile, the ECB releases the targeted LTRO amount at 10:15 GMT. The outlook is neutral/negative. Thepairmaystaystuckinthe1.1440/1.1260 area.

 

On Tuesday USD/JPY formed a long spike up reaching 119.80. Then cane a selloff which brought the pair down to the 100-meriod MA on the H4 chart. Resistance is at 119.60 and 120.00. Support is in the 118.30 area ahead of 117.30. Uncertainty about the timing of the Fed’s rate hike points at sideways trading. There will be no news from Japan until Friday, so pay attention to the US economic figures, especially inflation data due at 12:30 GMT on Thursday.

 

GBP/USD is trading above the previous resistance at 1.5480. The Bank of England’s Martin Weale said that rates may need to rise earlier than markets expect. Although Weale has already said this recently, this time his words encouraged the bulls as the Fed’s comments were, on the contrary, very moderate. The UK will release revised Q4 GDP data at 09:30 GMT. According to the initial estimate, the nation’s economic growth has slowed down to 0.5%. Technically pound is trying to break above the daily Ichimoku Cloud, although it seems that it lacks strength. The close above 1.5520 would be a positive signal. Next resistance is at 1.5580 (100-day MA) and 1.5620 (Dec. 31 high). Support is at 1.5400 and 1.5350.

 

AUD/USD pushed to 0.7900, gaining more than 70 pips on Wednesday. Aussie was supported by upbeat Chinese HSBC PMI that has finally overcome the 50 points waterline. The pair recovered above 38.2% Fibonacci from the late-January decline, confirming a local bottom at 0.7630. Next resistance to watch lies at 0.7960 and 0.8000. Focus on the Australian capital expenditure data on Thursday (-1.7% expected versus 0.2% prior) - they could spoil the bullish picture. All the other market drivers this week will refer to the US dollar.

 

USD/CAD extends the decline for a second day in a row, testing the 1.2400 support on Wednesday. Next support to watch lies at 1.2350. Canada (alongside with the United States) will release inflation data on Thursday.

 

https://www.youtube.com/watch?v=mIPSXxv34CA

 

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Danske Bank: trade signals for Feb. 26

 

Open positions:

 

EUR/USD: Hold SHORT from 1.1320, TAKE PROFIT 1.1000, STOP LOSS 1.1451

 

GBP/USD: Hold LONG from 1.5405, TAKE PROFIT 1.5621, STOP LOSS 1.5395

 

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

 

AUD/USD: Hold LONG from 0.7775, TAKE PROFIT 0.8033, STOP LOSS 0.7790

 

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

 

GBP/JPY: Hold LONG from 182.00, TAKE PROFIT 187.30, STOP LOSS 183.40

 

Trade ideas:

 

EUR/JPY: BUY at 134.85, TAKE PROFIT 136.70, STOP LOSS 133.90

 

USD/CAD: BUY at 1.2355, TAKE PROFIT 1.2697, STOP LOSS 1.2294

 

EUR/GBP: SELL at 0.7355, TAKE PROFIT 0.7254, STOP LOSS 0.7405

 

EUR/CAD: SELL at 1.4230, TAKE PROFIT 1.3805, STOP LOSS 1.4345

 

NZD/USD: BUY at 0.7510, TAKE PROFIT 0.7690, STOP LOSS 0.7460

 

USD/JPY: BUY lower

 

__________________________________________________________

 

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

 

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CAD/JPY: buy opportunity

 

26 February 2015

 

• CAD/JPY reached buy target 96.00

 

• Next buy targets - 98.00 and 99.00

 

CAD/JPY recently reversed down after the price reached the resistance level 96.00, which was set as the buy target in our previous forecast for this instrument. The downward reversal from this resistance level completed the preceding intermediate impulse (1) from the end of January and started the latest intermediate correction (2). This downward correction then stopped near the 50% Fibonacci Retracement level of the aforementioned impulse (1) (as you can see from the daily CAD/JPY chart below). The pair is currently approaching the resistance level 96.00.

 

If CAD/JPY breaks the resistance level 96.00, the price can then rise in the active intermediate impulse (3) (belonging to the primary Ⓒ-wave from last month) to the next buy targets – 98.00 and 99.00 (forecast price for the termination of impulse (3)).

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/26/CADJPY%20-%20Primary%20Analysis%20-%20Feb-26%201001%20AM%20%281%20day%29.png

 

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AUD/USD: bulls keep pressuring

26 February 2015

 

By Tatiana Norkina, FBS analyst

 

The bulls have managed to steal the initiative. Despite the break through the four-hour Ichimoku cloud lower border, the currency pair has failed to consolidate in the negative zone. The bulls counterattack has ended up in an upward break through the cloud and, apparently, they are aiming to fix above the 78th figure.

 

They will be supported by the cloud upper border and the Tenkan and Kijun lines.

 

Oscillators have also turned upwards, indicating bullish sentiment of the market participants.

 

Technical levels: support – 0.7830; resistance – 0.7930.

 

Trade recommendations:

 

1. Buy — 0.7830; SL — 0.7810; TP1 — 0.7900; TP2 — 0.7930.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/26/AUDUSDH4-TN.png

 

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USD/JPY: bulls having hard time

 

By Tatiana Norkina, FBS analyst

 

A couple of days ago, the bulls managed to break out of the cloud zone into the positive area. However, the resistance in the 119.40-119.60 area has killed their enthusiasm pretty quickly. Unsuccessful breakthrough made prices go back to the Ichimoku support level - 118.60.

 

At the moment, the situation is uncertain. On the one hand, the Golden Cross is active and the cloud is bullish. But the prices failure to consolidate above the Tenkan and Kijun lines speaks of the buyers weakness. We do not rule out a possibility of the dollar weakening against the yen.

 

Technical levels: support – 118.60; resistance – 119.00, 119.40.

 

Trade recommendations:

 

1. Sell— 118.50; SL — 118.70; TP1 — 117.80; TP2 — 117.50.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/26/usdjpyh4-TN.png

 

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EUR/AUD: trade idea

26 February 2015

 

By Dima Chernovolov

 

 

EUR/AUD reaches sell target 1.4400

Next sell target - 1.4200

EUR/AUD recently reached the sell target 1.4400, which was set in our previous report for this currency pair. The price earlier reversed down twice from the strong resistance zone set between the following resistance levels – the former support trendline of the daily up channel from September (acting as resistance now after it was broken in January), the 61.8% Fibonacci Correction of the previous sharp intermediate impulse (1) from December, resistance level 1.4900 and the upper daily Bollinger Band.

 

Two reversals from the aforementioned resistance zone marked the end of previous waves A and (2). EUR/AUD is currently trading close to the support level 1.4400. If the price breaks this support, EUR/AUD can then fall in the active impulse (3) to the next sell target 1.4200.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/26/EURAUD%20-%20Primary%20Analysis%20-%20Feb-26%201007%20AM%20%281%20day%29.png

 

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Forex trading plan for Feb. 27

 

US dollar rose as core inflation gained 0.2% (vs. +0.1% expected), while durable goods orders rose by 2.8% after falling by 3.3% in the previous period. Despite the negative headline inflation (-0.7%), the expectations of the Fed’s June rate hike are back. On Friday the US will release the second estimate of Q4 GDP (a revision down from 2.6% to 2.1% is expected).

 

EUR/USD is below 1.1260. Next levels to watch are 1.1210 and 1.1100. Resistance has switched to 1.1280 and 1.1350.

 

GBP/USD has tested another high at 1.5550 supported by the decline of EUR/GBP, but then fell on stronger USD. A band of resistance is located at 1.5580/1.5600/1.5620. Support is at 1.5420/00 and then at 1.5400.

 

USD/JPY will likely be sold on approaches to 119.60. Next resistance is at 120.00. Japan will release a bloc of the economic data on Friday during the Asian session. Forecasts are not very positive, but the Bank of Japan has signaled that it wants to wait with further stimulus, so the negative impact on yen shouldn’t be big. Support is at 118.80 and in the 118.30 area.

 

AUD/USD is trying to push above 0.7900, but the 200-period MA at H4 chart is a serious obstacle which has been capping the pair foe many months. Support is at 0.7770 and 0.7720. Resistance is at 0.7950 and 0.8025. The risk of the RBA’s rate cut next week will limit Aussie’s advance.

 

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EUR/NZD: trade idea

27 February 2015

 

Dima Chernovolov

 

EUR/NZD approaches sell target 1.4800

Next sell target - 1.4600

 

EUR/NZD has been falling strongly in the last few trading sessions – in accordance with our earlier forecast for this currency pair. EUR/NZD previously broke the support level 1.5200 – after which it corrected up to test this price level (acting as resistance after it was broken). The resistance zone near 1.5200 was strengthened by the 38.2% Fibonacci Correction of the previous sharp downward impulse from the start of February. The pair reversed down from this resistance zone with the daily Japanese candlesticks reversal pattern Bearish Engulfing - signaling the acceleration of the active minor impulse wave 3.

 

EUR/NZD is currently approaching the sell target 1.4800 which was set previously for this pair. If it breaks 1.4800, the price can then fall to the next sell target 1.4600.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/27/EURNZD%20-%20Primary%20Analysis%20-%20Feb-27%201018%20AM%20%281%20day%29.png

 

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USD: what to expect next week?

27 February 2015

 

Kira Iukhtenko

 

The US Federal Reserve sees the economy recovering, but waits for clear signals to begin hiking interest rates. The labor market dynamics seems to be on track, while low inflation, expensive currency and external threats stall the tightening.

 

Last week the US Chiar Yellen sounded more dovish than hawkish when testifying in Congress on Tuesday. The wording “patient” in forward guidance means rates are to stay low for at least two meetings. What’s more, rates could be increased only after the inflation stabilizes. However, we remain bullish in our USD forecasts: the Fed’s is still planning to raise rates and discusses the right timing.

 

On Thursday the US released inflation figures. Markets focused on core CPI that returned into the positive territory. As a result, demand for the US dollar revived. On the new week pay attention to the PMI indices on Monday and on Wednesday. On Friday the labor market data will come into the limelight. There is still a lot of uncertainty surrounding the US currency, but the market still has a chance to form a bullish candle for the 8th month in a row.

 

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EUR/CAD: sell targets

27 February 2015

 

Dima Chernovolov

 

• EUR/CAD fall inside intermediate impulse (3)

 

• Next sell targets - 1.3900 and 1.3800

 

EUR/CAD has been under significant bearish pressure lately – after the pair reversed down from the resistance zone lying between the resistance levels 1.4600 and 1.4400 (this resistance zone has been reversing the pair from last October, as you can see below). This resistance area was also strengthened by the upper daily Bollinger Band, the 38.2% Fibonacci Correction of the earlier downward impulse from March and by the upper resistance trendline of the daily down channel from August. The downward reversal form this resistance area marked the end of the previous intermediate ABC correction (2) from January.

 

EUR/CAD is expected to fall further in the active intermediate impulse (3) to the next sell targets 1.3900 and 1.3800 (which stopped the previous intermediate impulse (1) in January).

 

http://fxbazooka.com/upload/tiny/Analytics/2015/February/27/EURCAD%20-%20Primary%20Analysis%20-%20Feb-27%201027%20AM%20%281%20day%29.png

 

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MARKET NEWS

 

Key option levels

2 March 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: 1.1000 (EUR 909m), 1.1200 (EUR 673m), 1.1300 (EUR 594m), 1.1320/25 (EUR 908m), 1.1340 (415m);

 

GBP/USD: 1.5500 (311m);

 

USD/JPY: 117.50 (USD 650m), 118.00 (USD 1bln), 120.00 (USD 1.7bln), 121.50 (USD 700m);

 

AUD/USD: 0.7750 (AUD 520m), 0.7800 (AUD 418m), 0.7910 (AUD 747m).

 

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EUR/USD: weekly wave analysis

2 March 2015

 

By Roman Petuchov

 

Weekly. The market is currently forming a wave flat B (final part). Let's review the details.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/eurusd1.PNG

 

Daily. We see a strong bearish trend that has been forming for a year. The final bearish impulse (5) is now being formed.

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/eurusd2.PNG

 

H4. Wave 4 of (5) is a double tripple. On the new week we expect a bearish trend to be constructed with small rising or horizontal corrections.

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/eurusd3.PNG

 

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GBP/USD: weekly wave analysis

2 March 2015

 

Weekly. The market is forming a multi-month bearish trend C (part of a global bearish zigzag).

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/gbpusd1.PNG

 

Daily. Markup of the wave C is drawn on the chart. After a bullish zigzag (3) we expect a decline in a new impulse (5).

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/gbpusd2.PNG

 

H4. See the wave (4) in the details. The decline will continue at the beginning of the new week. We recommend going short at the end of a short-term bullish correction.

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/gbpusd3.PNG

 

More:

http://fxbazooka.com/en/analitycs/show/3883

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AUD/USD: weekly wave analysis

2 March 2015

 

Weekly. The market is forming a long-term bearish correction (bearish tripple zigzag). Let's see the markup of the wave A of (z).

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/audusd1.PNG

 

Daily. Bearish correction [4] is now being formed. The decline will be extended in a wave [5].

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/audusd2.PNG

 

H4. The first part of the double tripple – (w) - has been finished. We expect a decline in a wave (x) to follow. It could become a zigzag. Bullish wave (y) will follow.

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/audusd3.PNG

 

More:

http://fxbazooka.com/en/analitycs/show/3885

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USD/JPY: weekly wave analysis

2 March 2015

 

Weekly. Wave [V] of a long-term bullish trend is now being formed.

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/usdjpy1.PNG

 

H12. The market has formed a converging horizontal triangle. The price is now forming a new bullish trend. On the new week we expect a bullish wave III to be built.

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/usdjy2.PNG

 

H4. Waves I-II and -[ii] are constructed. We expect a bullish move. Break above the top of the I impulse would be a bullish trigger.

http://fxbazooka.com/upload/tiny/Analytics/2015/March/02/usdjpy3.PNG

 

More:

http://fxbazooka.com/en/analitycs/show/3884

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