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Key option levels

1 April 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: 1.0750 (EUR 323m), 1.0800 (EUR 2.1bln);

 

GBP/USD: 1.4900 (GBP 226m);

 

USD/JPY: 119.50/55 (USD 617m);

 

USD/CHF: 0.9600 (EUR 350m);

 

USD/CAD: 1.2680 (USD 256m), 1.2700 (USD 220m), 1.2800 (200m), 1.2900 (USD 300m);

 

AUD/USD: 0.7640/50 (AUD 1bln), 0.7600/05 (AUD 360m);

 

NZD/USD: 0.7530/35 (NZD 900m);

 

EUR/GBP: 0.7200 (255m), 0.7270 (EUR 706m);

 

AUD/JPY: 91.00 (AUD 410m).

 

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Forex Analytics

 

AUD/JPY: sell targets - 90.00 and 87.50

1 April 2015

 

- AUD/JPY falls inside monthly impulse ③

- Next sell targets - 90.00 and 87.50

 

AUD/JPY continues to fall after the recent sharp downward reversal from the major multi-year resistance level 103.00 (which also previously reversed the pair in June of 2008 and in April of 2013, as you can see from the monthly AUD/JPY chart below). The resistance zone near 103.00 was further strengthened by the upper monthly Bollinger Band. The downward reversal from the aforementioned resistance level 103.00 created the weekly Japanese candlesticks reversal pattern – bearish Engulfing – thereby completing the previous monthly ABC correction ② from the middle of 2013.

 

AUD/JPY is likely to fall further in the active monthly downward impulse wave ③ toward the next sell targets 90.00 and 87.50.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/AUDJPY%20-%20Primary%20Analysis%20-%20Apr-01%201043%20AM%20(1%20month)%20650.png

 

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EUR/CHF: sell targets - 1.0400 and 1.0200

1 April 2015

 

• EUR/CHF falls inside intermediate ABC correction

• Next sell targets - 1.0400 and 1.0200

 

EUR/CHF has been falling in the last few weeks – inside the C-wave of the intermediate ABC correction (B), which started in February – when the pair reversed down from the combined resistance zone lying between the following resistance levels: daily upper Bollinger Band, the 50% Fibonacci Correction of the previous sharp intermediate downward impulse wave (5) from the middle of January and the resistance level 1.0800. The currently active C-wave recently broke the support level 1.0600 (which stopped the previous A-wave).

 

EUR/CHF is likely to continue to fall toward the next sell targets – 1.0400 and 1.0200. Sell stop-loss can be placed above the recently broken former support level 1.0600.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/EURCHF%20-%20Primary%20Analysis%20-%20Apr-01%201036%20AM%20(1%20day)%20650.png

 

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Danske Bank: trade signals for Apr. 1

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.0850, TAKE PROFIT 1.0613, STOP LOSS 1.0901 (revised)

 

USD/JPY: Hold SHORT at 120.08, TAKE PROFIT 118.30, STOP LOSS 120.70

 

GBP/USD: Hold LONG at 1.4835, TAKE PROFIT 1.5155, STOP LOSS 1.4750

 

USD/CHF: Hold LONG at 0.9585, TAKE PROFIT 0.9906, STOP LOSS 0.9604 (revised)

 

EUR/CHF: Hold SHORT at 1.0510, TAKE PROFIT 1.0318, STOP LOSS 1.0582 (revised)

 

GBP/JPY: Hold SHORT at 179.00 TAKE PROFIT 175.50, STOP LOSS 178.45

 

NZD/USD: Hold SHORT at 0.7480 TAKE PROFIT 0.7276, STOP LOSS 0.7550

 

Trade ideas:

 

EUR/JPY: SELL at 129.50, TAKE PROFIT 127.19, STOP LOSS 130.45

 

AUD/USD: SELL at 0.7696, TAKE PROFIT 0.7526, STOP LOSS 0.7781

 

USD/CAD: BUY at 1.2670, TAKE PROFIT 1.2835, STOP LOSS 1.2590 (revised)

 

EUR/GBP: Possibly SELL

 

EUR/CAD: Possibly SELL

 

______________________________________________________________

 

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

 

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Forex trading plan for Apr. 2

 

The US dollar slowed its ascent on Wednesday following the release of the lower-than-expected employment indicator by ADP. The report showed the US private sector created only 189K new jobs in March. Markets are now concerned that the official NFP on Friday will also reflect the labor market slack (forecast: down from +295K to 247K). ISM Manufacturing PMI also surprised to the downside. You should also watch the US trade balance and weekly unemployment claims on Thursday to get more signals about the US economy. US dollar is expected to stay out of demand at least till the end of the week.

 

The other currency pairs are seen tracking the USD sentiment these days. EUR/USD recovered from 1.0720 on Wednesday, but the 1.0800 area is a strong resistance for now. Next resistance lies at 1.1000/50, while support - at 1.0600. The ECB will release its monetary policy minutes tomorrow.

 

GBP/USD remains under pressure below the 1.4800 mark. We remain bearish below 1.5000. Next bearish targets are 1.4740 and 1.4630. Watch the UK Construction PMI on Thursday.

 

AUD/USD slowed the decline on Wednesday, finding daily support around 0.7580. China’s manufacturing PMI surprised to the upside on Wednesday. Australia itself is scheduled to release its trade balance on Thursday - trade gap is expected to have widened in February.

 

USD/JPY pulled down from the 120.40 area on the overall USD weakness. Buyers’ indecisiveness reopens the way towards the 118 yen support.

 

https://www.youtube.com/watch?v=XsO2lTkL5hE

 

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Danske Bank: trade signals for Apr. 2

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.0850, TAKE PROFIT 1.0613, STOP LOSS 1.0901 (revised)

 

USD/JPY: Hold SHORT at 120.08, TAKE PROFIT 118.30, STOP LOSS 120.41

 

EUR/JPY: Hold SHORT at 129.25, TAKE PROFIT 127.19, STOP LOSS 130.26

 

USD/CHF: Hold LONG at 0.9585, TAKE PROFIT 0.9906, STOP LOSS 0.9604 (revised)

 

EUR/CHF: Hold SHORT at 1.0510, TAKE PROFIT 1.0318, STOP LOSS 1.0492 (revised)

 

GBP/JPY: Hold SHORT at 177.20, TAKE PROFIT 174.70, STOP LOSS 178.50

 

NZD/USD: Hold SHORT at 0.7480, TAKE PROFIT 0.7276, STOP LOSS 0.7550

 

Trade ideas:

 

AUD/USD: SELL at 0.7740, TAKE PROFIT 0.7451, STOP LOSS 0.7810

 

GBP/USD: Possibly SELL

 

USD/CAD: Possibly BUY

 

EUR/CAD: Possibly SELL

 

EUR/GBP: Possibly SELL

 

__________________________________________________________

 

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

 

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Forex trading plan for April 3

 

By Elizaveta Belugina

 

The markets are awaiting the long Easter weekend and the release of the US NFP on Friday. Taking into account uncertainty and low liquidity trading will be even more volatile than it usually is on NFP Fridays. Before the release (12:30 GMT) US dollar is expected to consolidate.

 

On Wednesday American ADP employment report disappointed dollar bulls, but on Thursday the US released good unemployment claims data (lower than expected) and trade balance figures. All in all, the recent US data releases give some reasons to worry about the US economy. A reading above 200K and gain in average hourly earnings should be enough for the market to expect a rate hike in June-September.

 

EUR/USD has found support above 1.0700 this week and returned above 1.0850 on the back of some more positive data from the euro area. Support is at 1.0800, 1.0750 and 1.0700.

 

GBP/USD was affected by weak UK construction PMI which fell from 60.1 to 57.8. Resistance at 1.4900 still holds. Next resistance is at 1.4950. Taking into account Britain’s political uncertainty, even in case weaker NFP pound’s recovery will be limited by 1.5000. On the downside potential target will be at 1.4630.

 

USD/JPY was rejected from above 120.00 in the first half of the week and spent Thursday below this mark. This makes the pair vulnerable to test support is 119.28, 118.85 and 118.30. Resistance is at 120.30, 120.50 and 120.80.

 

AUD/USD is weak. Resistance at 0.7660 has become stronger with the spike to this level on Wednesday followed by a decline to the 0.7530 area. Australian trade deficit widened and 17 out of the 27 economists surveyed by Bloomberg expect the RBA to cut the benchmark rate on Tuesday.

 

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MARKET NEWS

 

Key option levels

3 April 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: 1.0650 (EUR 635m), 1.0680 (EUR 408m), 1.0800 (EUR 262m), 1.0850 (EUR 402m), 1.0950 (EUR 401m), 1.1075 (EUR 3.4bln);

 

USD/JPY: 119.65 (USD 2bln), 120.00 (USD 1.3bln), 120.20 (USD 700m), 120.50 (USD 501m), 122.00 (USD 675m), 122.25 (USD 550m);

 

USD/CAD: 1.2350 (USD 556m);

 

AUD/USD: 0.7685 (AUD 372m).

 

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NFP: what do big banks expect?

3 April 2015

 

The US Bureau of Labor Statistics will release Non-Farm Payrolls (NFP) figures at 12:30 GMT. According to the consensus forecast, American economy added 246K jobs in March after 295K in February.

 

Here is the more detailed account of what the major banks think:

 

- Societe Generale +272K

- Bank of America/Merrill Lynch +270K

- Credit Agricole +260K

- UBS +260K

- BNP +260K

- Barclays +250K

- BMO +250K

- JP Morgan +250K

- Credit Suisse +240K

- RBS +238K

- RBC +225K

- TD Securities +221K

- Goldman Sachs +220K

- CIBC +200K

- Morgan Stanley +195K

 

Societe Generale is the most optimistic one, while Morgan Stanley – the most pessimistic.

 

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NZD/JPY: buy targets - 91.00 and 92.00

3 April 2015

 

-NZD/JPY reversed from support zone

-Next buy targets - 91.00 and 92.00

 

 

NZD/JPY recently corrected down sharply – after the price reached the buy target 91.00, which was set in our previous forecast for this currency pair. The subsequent downward correction from 91.00 recently stopped at the support zone located between the support level 89.00 and the 38.2% Fibonacci Correction of the previous sharp upward impulse from the start of February. The upward reversal from this support zone created the powerful Japanese candlesticks reversal pattern – Bullish Engulfing (highlighted on the daily NZD/JPY chart below).

 

Having just completed the minor correction (ii) - NZD/JPY can be expected to rise further inside the next minor impulse (iii) toward the next buy targets 91.00 and 92.00.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/NZDJPY%20-%20Primary%20Analysis%20-%20Apr-03%201019%20AM%20(1%20day)%20650.png

 

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AUD/NZD: sell target – 1.0000

3 April 2015

 

• AUD/NZD reached sell target 1.0300

• Next sell target – 1.0000

 

AUD/NZD continues to fall after recently breaking down below the support level 1.0300, which was set as the sell target in our previous forecast for this currency pair. The breakout of this support level intensified the bearish pressure on this currency pair – accelerating the currently active minor impulse wave (iii) which belongs to the 3rd minor impulse 3 from the end of January (as you can see from the daily AUD/NZD chart below).

 

The pair is currently approaching the support level 1.0100. With the daily Momentum indicator moving close to the yearly lows, AUD/NZD can be expected to fall further toward the next sell target at the parity – provided that the pair closes this week below the support level 1.0100.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/AUDNZD%20-%20Primary%20Analysis%20-%20Apr-03%201005%20AM%20(1%20day)%20650.png

 

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USD: weekly outlook

3 April 2015

 

US labor market figures on Friday shattered all the hopes for a strong dollar. Non-Farm Payrolls rose by 126K in March (forecast: +246K). What’s more, the previous reading was revised down from +295K to +264K. Data reduces expectations for a Fed’s rate hike in June and opens the way for a USD selloff.

 

The FOMC meeting minutes on Wednesday will be at the central stage next week. We’ll get the details of the controversial March 18 meeting. Meanwhile, the largest US aluminum producer Alcoa will start the first-quarter earnings season, reporting on Wednesday. You should also watch the US non-manufacturing PMI on Monday.

 

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GBP/USD: forecast for the new week

3 April 2015

 

By Kira Iukhtenko

 

Sterling spent the week trading mixed versus the greenback, forming a range of “doji” candlesticks on the daily chart. We remain clearly bearish in the medium-term as long as the cable holds below the major 1.5000 resistance. Next bearish targets are 1.4740, 1.4680 and 1.4630.

 

Next week’s highlights will be the Bank of England’s monetary policy decision as well as Services PMI and manufacturing production figures. The UK central bank is widely expected to leave rates unchanged in on Wednesday. BOE became cautious amid low inflation and strong currency. According to the median Reuters forecast, the first rate hike will come in early 2016 and won’t exceed 25 bps. That means that the US Fed will likely be the first central bank to hike rates.

 

British pound’s prospects are clouded by political uncertainty. The upcoming UK general election on May 7 are not a sure thing: the Conservative party and the opposition Labor party are neck-and-neck. Threat of a “hung” government is a bearish factor for GBP: if Conservatives fail to win a majority, they’ll be trying to form a coalition.

 

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GBP/AUD: buy targets – 1.9800 and 2.000

6 April 2015

 

-GBP/AUD rises inside minor impulse 3

-Next buy targets – 1.9800 and 2.000

 

GBP/AUD recently reversed up sharply from the combined support zone lying at the intersection of the support level 1.9000 (which was set as the sell target in our previous forecast for this currency pair), the support trendline of the wide daily up channel from last September, 61.8% Fibonacci Correction of the previous impulse 1 and the lower daily Bollinger Band. The upward reversal from this support area completed the previous minor correction 2. The next upward impulse 3 recently broke the resistance levels 1.9200 and 1.9400.

 

GBP/AUD is likely to rise further toward the next buy targets at 1.9800 and 2.000. Buy stop-loss can be placed below the recently broken former-resistance level 1.9400.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/GBPAUD%20-%20Primary%20Analysis%20-%20Apr-06%200901%20AM%20(1%20day)%20650.png

 

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CFTC: large players cut USD longs

6 April 2015

 

Ассоrding to the most recent CFTC report, released on Friday, large players decreased USD longs on the week ending March 31. However, these figures don't consider the greenback's selloff on the weak NFP on Friday. Net USD longs contracted by 46K contracts to 367K contracts and are now at their lowest level since December 2014.

http://fxbazooka.com/upload/tiny/Analytics/2015/April/02/cot-contracts%20(1).png

 

Despite all that, large players don't trust in euro: net EUR short positions kept on rising for a fourth week in a row and increased to 225K contracts. Short JPY positions fell for a third week in a row and are now seen at their lowest level since 2013, while AUD shorts - at their lowest level since September 2014. NZD positions turned bullish for a first time since autumn 2014.

http://fxbazooka.com/upload/tiny/Analytics/2015/April/02/cot-standins.png

 

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Forex trading plan for Apr. 7

 

Kira Iukhtenko, Elizaveta Belugina

 

US dollar remains under pressure against all the major currencies following the weak NFP figures released on Friday. The March reading came out twice below the forecast at 126K, lowering expectations for the Fed’s rate hike in June. It seems that we are now standing on the edge of a stronger bearish USD correction. The ISM Non-Manufacturing PMI on Monday added to market pessimism, coming slightly below the forecast. On Tuesday, the US agenda is light, while on Wednesday our attention will be glued to the FOMC meeting minutes release.

 

EUR/USD found support in the 1.0965 area and may test resistance at 1.1050 as traders are still digesting weak NFP released on Friday. The euro breached the uptrend resistance line last week adding strength to the bulls. Support is at 1.0950 (100-period MA at H4) and 1.0900. A break below this level will reduce powers of the buyers. Further resistance is at 1.1110/20.

 

GBP/USD pushed above 1.4950 on Monday, trying to recover above the January lows. This is where 38.2% Fibonacci from the Feb-March descent lies. The major strong resistance for the cable is 1.5000 – a daily close above here would confirm the bullish strength. Support lies at 1.4740 and 1.4630. Watch the UK Services PMI on Tuesday at 8:30 GMT (forecast – upbeat).

 

AUD/USD met resistance at 0.7700 on Friday. The Reserve Bank of Australia will announce its interest rate decision at 04:30 GMT. There’s a risk of a surprise rate cut. If RBA lowers key rate, Aussie will fall to 0.7500 and probably lower. Otherwise, the pair will recover to the 55-day MA at 0.7780. Our main scenario is AUD-negative.

 

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GOLD: weekly wave analysis

7 April 2015

 

Weekly. The market is currently developing a descending corrective wave [4] that is now close to its end. Let’s review the last part of the correction.

 

http://fxbazooka.com/upload/freelance/tiny/%D0%B2%D0%BE%D0%BB%D0%BD%D0%BE%D0%B2%D0%BE%D0%B9%20%D0%B0%D0%BD%D0%B0%D0%BB%D0%B8%D0%B7/xauusd1.PNG

 

Daily. After building the IV triangle, we’ve seen a decline of the pair in a bearish impulse V. When the strong descending wave [3] of V was complete, the market reversed and entered a corrective growing wave [4]. In the coming days we expect this wave to end.

http://fxbazooka.com/upload/freelance/tiny/%D0%B2%D0%BE%D0%BB%D0%BD%D0%BE%D0%B2%D0%BE%D0%B9%20%D0%B0%D0%BD%D0%B0%D0%BB%D0%B8%D0%B7/xauusd2.PNG

 

H4. Wave [4] takes a form of a simple rising zigzag (A)-(B)-©. On the new week we expect the final part of the © of [4] impulse to be constructed. The decline will soon follow.

http://fxbazooka.com/upload/freelance/tiny/%D0%B2%D0%BE%D0%BB%D0%BD%D0%BE%D0%B2%D0%BE%D0%B9%20%D0%B0%D0%BD%D0%B0%D0%BB%D0%B8%D0%B7/xauusd3.PNG

 

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Forex trading plan for Apr. 8

 

By Elizaveta Belugina, Kira Iukhtenko

 

https://www.youtube.com/watch?v=0-OGmMfsbWg

 

Demand for the US dollar started to recover on Tuesday with the USD index rebounding to 98 points. On Wednesday, the market attention will be focused on the FOMC meeting minutes release at 18:00 GMT. It is important to find out, which factors guided the Fed’s fund rate forecasts revision – probably, the document will clarify the real sentiment within the Committee. Any indications that the Fed might still be considering a rate increase in June would pull the investors back into the USD.

 

EUR/USD is currency forming an ascending triangle. The euro is approaching the lower edge of the figure. Support is at 1.0800. The single currency declined despite better Spanish & Italian services PMIs. The pair slid below important MAs on H1 and H4 charts. Resistance is at 1.0876/78 and at 1.0935. On Wednesday the euro area will release retail sales data at 09:30 GMT, though data from America will be more important.

 

GBP/USD pulled down from the 1.5000 figure, confirming that the cable bulls still lack the power. Even the strong UK Services PMI failed to render support for GBP. Next bearish targets lie at 1.4730 and 1.4630. Tomorrow we’ll watch the BOE Credit Conditions Survey. On Thursday, do not miss the BOE policy meeting itself.

 

USD/JPY pushed back above 120 yen on Tuesday, opening the way for more upside. Next levels to watch are 120.40 and 120.80. The Bank of Japan will announce its policy meeting decision tonight – no additional easing is expected before the BOJ April 30 Inflation outlook. Renewed forecasts could justify more stimulus.

 

Reserve Bank of Australia left monetary policy unchanged on Tuesday, supporting the Aussie for a while. However, AUD/USD still looks quite bearish for us. Break below 0.7520 would be a perfect selling signal.

 

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US dollar weaked versus other majors

8 April 2015

 

US dollar eased down versus its main counterparts on Wednesday. However, the greenback is still generally back at the levels where it traded before American weak Non-Farm Payrolls report on Friday which reduced the odds of an earlier Federal Reserve’s rate hike.

 

EUR/USD recovered from 1.0800. GBP/USD recovered from 1.4800 to 1.4860.

 

USD/JPY once again stepped into resistance on approach to 120.50 and slid to 119.70. The Bank of Japan left its monetary policy unchanged. Still, as the central bank has failed to reach its 2% inflation target, there are still expectations of further monetary easing in Japan. According to nation’s finance ministry, Japanese investors were net buyers of foreign stocks and bonds for the third straight month in March.

 

AUD/USD rose once again approaching resistance at 0.7700.

 

The main event of the day is the release of the FOMC meeting minutes at 18:00 GMT.

 

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Danske Bank: trade signals for Apr. 8

 

Open positions:*

 

EUR/USD: Hold LONG at 1.0874, TAKE PROFIT 1.1115, STOP LOSS 1.0795

 

USD/JPY: Hold LONG at 119.95, TAKE PROFIT 121.20, STOP LOSS 119.38

 

GBP/USD: Hold LONG at 1.4875, STOP LOSS 1.4805

 

AUD/USD: Hold SHORT at 0.7655, TAKE PROFIT 0.7526, STOP LOSS 0.7715

 

USD/CAD: Hold SHORT at 1.2597, TAKE PROFIT 1.2353, STOP LOSS 1.2580 (revised)

 

EUR/JPY: Hold LONG at 130.30, TAKE PROFIT 132.13, STOP LOSS 129.40

 

GBP/JPY: Hold LONG at 178.45, TAKE PROFIT 180.15, STOP LOSS 177.60

 

NZD/USD: Hold LONG at 0.7485, TAKE PROFIT 0.7630, STOP LOSS 0.7440

 

Trade signals:

 

USD/CHF: SELL at 0.9725, TAKE PROFIT 0.9501, STOP LOSS 0.9767

 

EUR/CAD: SELL at 1.3645, TAKE PROFIT 1.3390, STOP LOSS 1.3770

 

EUR/GBP: Possibly SELL

 

EUR/CHF: Possibly SELL

 

______________________________________________________________

 

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

 

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AUD/CHF: buy target - 0.7600

9 April 2015

 

-AUD/CHF rises inside minor C-wave

-Next buy target - 0.7600

 

AUD/CHF recently reversed up from the support zone lying between the the support level 0.7200 (which was set as the sell target in our previous report for this currency pair), the lower daily Bollinger Band and the 50% Fibonacci Correction of the previous sharp corrective A-wave from January (belonging to the intermediate ABC correction (2)). The upward reversal from this support zone stopped the previous B-wave with the strong Japanese candlesticks reversal pattern – Double-Doji Morning Star (highlighted below).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/AUDCHF%20-%20Primary%20Analysis%20-%20Apr-09%201017%20AM%20(1%20day)%20650.png

 

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EUR/NZD: sell targets - 1.4120 and 1.4000

9 April 2015

 

-EUR/NZD falls inside minor impulse 3

-Next sell targets - 1.4120 and 1.4000

 

EUR/NZD recently reversed down strongly from the resistance level 1.4500 (which has been reversing this currency pair from the middle of last month, as you can see from the daily EUR/NZD chart below). The resistance zone near 1.4500 was further strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci Correction of the previous sharp downward impulse wave from February. The downward reversal from 1.4500 completed the previous minor ABC correction 2 – starting the active minor impulse 3, which then broke the daily Triangle from March.

 

EUR/NZD is expected to fall further in the active minor impulse wave 3 toward the next sell targets - 1.4120 (low of the earlier impulse wave 1) and 1.4000.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/EURNZD%20-%20Primary%20Analysis%20-%20Apr-09%201020%20AM%20(1%20day)%20650.png

 

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http://fxbazooka.com/en/analitycs/show/4544

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Forex Analytics

 

EUR/CAD: sell target - 1.3300

10 April 2015

 

-EUR/CAD reached sell target 1.3400

-Next sell target - 1.3300

 

EUR/CAD today reached the support level 1.3400, which was set as the sell target in our previous forecast for this currency pair. The price earlier reversed down sharply – after the pair failed to break above the strong resistance zone lying between the former support trendline of the daily down channel from last August (acting as resistance now after it was broken in March), the resistance level 1.3800 and the upper daily Bollinger Band. This resistance zone has been reversing this currency pair from the middle of March.

 

If EUR/CAD breaks the support level 1.3400, the pair can be expected to fall further toward the next sell target at 1.3300 (intersecting with the support trendline of the weekly down channel from 2014).

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/EURCAD%20-%20Primary%20Analysis%20-%20Apr-10%201018%20AM%20(1%20day)%20650.png

 

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http://fxbazooka.com/en/analitycs/show/4553

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Forex Analytics

 

USD/SGD: buy target - 1.3760

10 April 2015

 

-USD/SGD completed intermediate ABC correction (2)

-Next buy target - 1.3760

 

USD/SGD recently reversed up sharply from the strong combined support zone lying between the support level 1.3500 (which also previously reversed the minor correction 4 in February), 50% Fibonacci Correction of the previous sharp intermediate impulse wave (1) and the lower daily Bollinger Band – as you can see from the daily USD/SGD chart below. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing – thereby completing the previous intermediate ABC correction (2).

 

USD/SGD is currently approaching the resistance level 1.3630. If the pair breaks this resistance level – it can be expected to rise further to the next buy target at 1.3760 (top of earlier wave B).

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/USDSGD%20-%20Primary%20Analysis%20-%20Apr-10%201027%20AM%20(1%20day)%20650.png

 

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http://fxbazooka.com/en/analitycs/show/4555

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MARKET NEWS

 

Key option levels

13 April 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: 1.0550 (EUR 308m), 1.0630 (EUR 230m), 1.0670/75 (EUR 825m), 1.0750 (EUR 1.1bln);

 

USD/JPY: 121.00 (USD 482m);

 

AUD/USD: 0.7600 (AUD 1.7bln);

 

NZD/USD: 0.7400 (NZD 337m) 0.7750 (NZD 552m).

 

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http://fxbazooka.com/en/news/show/2578

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