Market analysis and trade recommendations by FBS

[riki143]

Forex Analytics

 

US dollar: forecast for June 1-7

 

Kira Iukhtenko

 

The US Dollar strengthened versus all the major currencies in the end of May. The market clearly expects the economy to recover in the second quarter. As a result, the first rate hike by the Federal Reserve is now expected in September-October. The Fed’s Chief Janet Yellen confirmed last week the bank’s intention to enter the hiking cycle in 2015. The pace will depend on the economic data.

 

At the beginning of the new week we’ll be watching the US PMI indices. On Friday, the market will focus on the US May Non-farm payrolls. Don’t forget to leave your NFP forecasts at FXBAZOOKA.com. The greenback will extend the upside, if the US economy added more than 200K new jobs. Dollar index targets the 98 mark and higher.

 

More:

http://fxbazooka.com/en/analitycs/show/5254

[riki143]

Forex Analytics

 

GBP/USD: forecast for June 1-7

 

Kira Iukhtenko

 

The cable had another bearish week, slipping below the 1.5300 mark. As can be seen from the monthly chart, the pair failed to break above the monthly Ichimoku cloud and is currently forming a long-legged bearish candle.

 

Buyers lost control over the market. On the daily chart, we see that the bullish trend support was crudely broken to the downside. Strong selling pressure persists and will likely extend into the new week. Our next bearish target is 1.5100. Break below could open the way to the April lows, but the 1.4500 area is expected to cap in the medium term. Resistance lies at 1.5550.

 

As for the economic calendar, watch the May PMI’s at the beginning of the new week. Manufacturing and construction indices are expected to recover a from the April dip, but they remain low relatively to the early 2014. On Thursday, the Bank of England holds its policy meeting.

 

More:

http://fxbazooka.com/en/analitycs/show/5255

[riki143]

Forex Analytics

 

Danske Bank: trade signals for June 1

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.0930, TAKE PROFIT 1.0732, STOP LOSS 1.1015

 

USD/JPY: Hold LONG at 120.80, TAKE PROFIT 124.75 (revised), STOP LOSS 123.40 (revised)

 

GBP/USD: Hold SHORT at 1.5318, TAKE PROFIT 1.5150 (revised), STOP LOSS 1.5348 (revised)

 

USD/CAD: Hold LONG at 1.2200, TAKE PROFIT 1.2667 OBJ (revised), STOP LOSS 1.2347 (revised)

 

EUR/JPY: Hold LONG at 133.90, TAKE PROFIT 137.64 (revised), STOP LOSS 134.98 (revised)

 

EUR/CHF: Hold SHORT at 1.0450, TAKE PROFIT 1.0234, STOP LOSS 1.0401

 

EUR/CAD: Hold LONG at 1.3482, TAKE PROFIT 1.3891, STOP LOSS 1.3483 (revised)

 

GBP/JPY: Hold LONG at 190.00, TAKE PROFIT 193.73, STOP LOSS 188.59

 

Trade ideas:

 

AUD/USD: SELL at 0.7710, TAKE PROFIT 0.7553, STOP LOSS 0.7775

 

USD/CHF: Possibly BUY

 

EUR/GBP: Possibly SELL

 

NZD/USD: Possibly SELL

 

____________________________________________________________

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5275

[riki143]

Forex Analytics

 

Trading plan for June 2

 

Kira Iukhtenko

 

https://www.youtube.com/watch?v=Zt-O2Ujc1OM

 

The US dollar index is trading in a narrow range on Monday. Data released today show US personal spending remained weak in April, while the inflationary pressures remain muted. PCE price index recorded its smallest gain since late 2009 on an annual basis (+1,2%). Disappointing data suggests the Fed won’t be in a hurry to raise interest rates. Watch the US factory orders and the FOMC Member Brainard speech tomorrow.

 

EUR/USD remains supported by the 1.0900 mark. Inflation in Germany pushed higher in May with consumer prices rising by 0.7% year-on-year. Manufacturing PMI indices also came out strong. However, euro remains under bearish pressure as the Greek question remains unsolved. We’ll be watching the flash May CPI tomorrow – forecasts are upbeat here.

 

GBP/USD extends the decline on Monday, testing the 1.5200 mark to the downside. UK Manufacturing PMI disappointed the market (52.00 versus 52.50 expected). Watch the Construction PMI tomorrow (forecast 55.1 versus prior 54.2).

 

AUD/USD consolidates around 0.7650. RBA will hold its monetary policy meeting tomorrow – no material changes in policy are expected. The pair is expected to slip towards the 0.7550 support even on a neutral informational background. Resistance lies at 0.7680.

 

More:

http://fxbazooka.com/en/analitycs/show/5286

[riki143]

Forex Analytics

 

EUR/AUD: sell target – 1.4100

2 June 2015

 

By: Dima Chernovolov

 

-EUR/AUD reversed from resistance zone

-Next sell target – 1.4100

 

EUR/AUD today reversed down sharply from the resistance zone lying between the resistance level 1.4380 (which also previously reversed the price in April and in March as you can see below), the upper daily Bollinger Band and the 38.2% Fibonacci Correction of the previous downward impulse wave from the middle of December. Given the strength of this resistance zone - EUR/AUD is likely to fall further in the nearest time.

 

The pair is likely to fall to the next sell target at the support level 1.4100. Sell stop-loss can be placed at the distance of half the daily ATR (average true range) above the resistance level 1.4380.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/EURAUD%20-%20Primary%20Analysis%20-%20Jun-02%200908%20AM%20(1%20day)%20650.png

 

More:

http://fxbazooka.com/en/analitycs/show/5294

[riki143]

Forex Analytics

 

Danske Bank: trade signals for June 2

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.0930, TAKE PROFIT 1.0732, STOP LOSS 1.1015

 

USD/JPY: Hold LONG at 120.80, TAKE PROFIT 125.69 (revised), STOP LOSS 123.40 (revised)

 

GBP/USD: Hold SHORT at 1.5318, TAKE PROFIT 1.5150, STOP LOSS 1.5315 (revised)

 

USD/CHF: Hold LONG at 0.9450, TAKE PROFIT 0.9599, STOP LOSS 0.9385

 

USD/CAD: Hold LONG at 1.2200, TAKE PROFIT 1.2667 (revised), STOP LOSS 1.2410 (revised)

 

EUR/JPY: Hold LONG at 133.90, TAKE PROFIT 137.64 (revised), STOP LOSS 134.98 (revised)

 

EUR/CHF: Hold SHORT at 1.0450, TAKE PROFIT 1.0234, STOP LOSS 1.0401

 

EUR/CAD: Hold LONG at 1.3482, TAKE PROFIT 1.3891, STOP LOSS 1.3483 (revised)

 

Trade ideas:

 

EUR/GBP: SELL higher

 

AUD/USD: Possibly SELL

 

GBP/JPY: Possibly BUY

 

NZD/USD: Possibly SELL

 

____________________________________________________________

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5298

[riki143]

Forex Analytics

 

Forex trading plan for June 3

 

EUR/USD rose towards 1.1200 on hopes about the Greek deal and a small improvement in the euro area’s inflation data. The press conference of the ECB President Mario Draghi will start at 12:30 GMT on Wednesday. Everyone will be interested in whether the central bank will be really buying more bonds in June. Draghi will likely assess the QE program as successful and underline that the ECB is fully committed to it. Support is at 1.0925 and 1.0850. Resistance is at 1.12 and 1.13 ahead of 1.1570.

 

GBP/USD found some support at the 100-day MA at 1.5165 and rose above 1.5300 on better-than-expected UK construction PMI. Britain will release services PMI at 08:30 GMT. Resistance is at 1.5340 and 1.5500.

 

USD/JPY tested more than 12-year high at 125.05 before sliding to 124.00. Support lies at 123.30 and 122.80. Resistance is at 125.10 and 125.50.

 

AUD/USD recovered to 0.7700. The Reserve Bank of Australia kept monetary policy unchanged and didn’t provide much of an easing rhetoric: the RBA is waiting for the Fed to make the first move. Australia will release Q1 GDP on Wednesday (01:30 GMT), a slight acceleration in economic growth is expected. Resistance is at 0.7740 and 0.7800.

 

In America watch the release of the ADP non-farm employment change at 12:15 GMT (forecast: +200K). USD will be data dependant. The sentiment about the US dollar is rather positive, so traders will be buying it on the dips.

 

More:

http://fxbazooka.com/en/analitycs/show/5304

[riki143]

Forex Analytics

 

Danske Bank: trade signals for June 3

 

Open positions:*

 

EUR/JPY: Hold LONG at 133.90, TAKE PROFIT 140.51 (revised), STOP LOSS 136.08

 

EUR/CAD: Hold LONG at 1.3482, TAKE PROFIT 1.4090 (revised), STOP LOSS 1.3582

 

GBP/JPY: Hold LONG at 189.80, TAKE PROFIT 193.17, STOP LOSS 188.49

 

Trade ideas:

 

EUR/USD: SELL at 1.1190, TAKE PROFIT 1.0979, STOP LOSS 1.1221

 

GBP/USD: BUY at 1.5315, TAKE PROFIT 1.5508, STOP LOSS 1.5215

 

USD/CHF: BUY at 0.9290, TAKE PROFIT 0.9484, STOP LOSS 0.9244

 

USD/CAD: BUY at 1.2330, TAKE PROFIT 1.2531, STOP LOSS 1.2260

 

USD/JPY: Possibly BUY

 

AUD/USD: Possibly SELL

 

EUR/GBP: Possibly BUY

 

EUR/CHF: Possibly BUY

 

NZD/USD: Possibly SELL

 

______________________________________________

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5308

[riki143]

Forex Analytics

 

Trading plan for June 4

 

Kira Iukhtenko

 

https://www.youtube.com/watch?v=_Y2g4CgxxoY

 

US Dollar remains under bearish pressure for a second day in a row with the USD index falling below 96. Even the strong statistics fails to support the greenback: trade deficit narrowed, while the ADP NFP came at 201K. The reason for the USD weakness is growing optimism on the Greek issue and rising European yields. Tomorrow we’ll watch the unemployment claims, while on Friday the market will focus on May NFP.

 

EUR/USD jumped above 1.1200 on Wednesday. ECB left monetary policy unchanged,while Mario Draghi cheered the market up with optimistic comments on theinflationary prospects. Anyway, we don’t expect the rally to be long-lived. The 1.1300/1500 area will likely be highly resistive. Support is seen at 1.1050.

 

GBP/USD consolidates around 1.5300. The BOE meeting on Thursday will likely be a non-event. The recent economic weakness lowers the market expectations for a rate hike. We expect the cable to come under a renewed pressure with a target around 1,5160.

 

USD/JPY is driven mostly by the US rate hike expectations these days. Trend resistance lies at 124.60/125.00. Strong US data may provoke a break higher, but then the Japanese officials could intervene verbally. Support is seen at 123.60/70.

 

AUD/USD bounced from 0,7600 and soared by 200 pips in 2 days. Support is seen at 0,7750. We’ll be watching retail sales and trade balance tomorrow.

 

More:

http://fxbazooka.com/en/analitycs/show/5325

[riki143]

MARKET NEWS

 

Euro is supported by the spike in German yields

4 June 2015

 

EUR/USD is trading in the 1.1250 area after it hit 1.1285 on Wednesday. German 10-year Bund yields rose today to 2015 highs. The European Central Bank President Mario Draghi was rather calm about the sharp rise in yields, while some investors expected him to talk them down. In addition, the markets are cautiously optimistic about Greece hoping that it will strike a deal with its creditors. The nation’s Prime Minister Alexis Tsipras declared yesterday after talks with senior EU officials that Athens would make a payment due to the IMF on Friday. EUR/JPY reached levels above 140.00.

 

USD/JPY is fluctuating above 124.00. AUD/USD slid towards 0.7700. Australia’s retail sales showed zero growth in April, while its trade deficit widened to the record level. Weak data revived expectations of further easing of the Reserve Bank of Australia.

 

More:

http://fxbazooka.com/en/news/show/2783

[riki143]

Forex Analytics

 

EUR/NZD: buy target – 1.6000

4 June 2015

 

By: Dima Chernovolov

 

-EUR/NZD rises inside C-wave

-Next buy target – 1.6000

 

EUR/NZD continues to rise after the recent breakout of the resistance trendline of the wide weekly down channel from last year. The breakout of this resistance trendline accelerated the active minor C-wave of the intermediate ABC correction (2) from April. This C-wave earlier broke the resistance levels 1.5400 (which stopped the previous A-wave) and 1.5600. Each of these successive breakouts accelerated the growth of this currency pair.

 

EUR/NZD is likely to rise further inside the active C-wave toward the next buy target at 1.6000 (target price calculated for the completion of the C-wave).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/EURNZD%20-%20Primary%20Analysis%20-%20Jun-04%200932%20AM%20(1%20day)%20650.png

 

More:

http://fxbazooka.com/en/analitycs/show/5332

[riki143]

Forex Analytics

 

Forex trading plan for June 5

 

https://www.youtube.com/watch?v=02IiIhm_mrw

 

The event risk in the coming sessions is extremely high. On Friday OPEC is due to announce the results of its meeting; Greece should pay 300 million euros to the IMF, while the US will release the key indicator of the labor market – Non Farm Payrolls – at 12:30 GMT. According to the consensus forecast, NFP increased by 226K in May.

 

EUR/USD reached 1.1385 driven by growth in German yields, but then returned to 1.1300 on better-than-expected data from the US released on Thursday (American unemployment claims declined). Traders are taking profits ahead of the US NFP release on Friday. We’ll surely see more volatility on Friday. The pair will follow the negative scenario (down to support at 1.1150, 1.1075 and 1.0975) if there’s no deal on Greece on Friday and the nation puts off paying to the IMF to the end of the month and if there’s a big upside surprise in the US NFP). If a temporary solution of Greek problem is found and NFP disappoints, EUR/USD may be able to rise to 1.1465, 1.1530 and 1.1600.

 

GBP/USD tested 1.5440. The Bank of England left its policy unchanged: the decision didn’t influence the pound much. Higher German yields are positive for GBP as well. Resistance is at 1.5445, 1.5500 and 1.5530 (200-day MA). Support is at 1.5300, 1.5250 and 1.5170 (daily MAs).

 

USD/JPY is fluctuating around 124.25. So far Japanese officials have done little to talk the pair down. There no bullish drivers for the pair from the side of Japan, but good figures from the US can push the dollar higher. Support is at 123.60/50, 123.30 and 122.70. Resistance is at 124.70, 125.05 and 125.70.

 

AUD/USD slid to 0.7725 after meeting resistance above 0.7800. Aussie bulls were discouraged by another dismal Australian data release. Resistance is at 0.7800 and 0.7850. Support is at 0.7600 and 0.7550. Selling the rallies looks like the best strategy.

 

More:

http://fxbazooka.com/en/analitycs/show/5342

[riki143]

Forex Analytics

 

Danske Bank: trade signals for June 5

 

Open positions:*

 

USD/JPY: Hold LONG at 124.10, TAKE PROFIT 125.69, STOP LOSS 123.39

 

GBP/USD: Hold LONG at 1.5315, TAKE PROFIT 1.5508, STOP LOSS 1.5245

 

USD/CHF: Hold LONG at 0.9360, TAKE PROFIT 0.9543, STOP LOSS 0.9275

 

AUD/USD: Hold SHORT at 0.7745, TAKE PROFIT 0.7572, STOP LOSS 0.7791

 

GBP/JPY: Hold LONG at 189.80, TAKE PROFIT 193.17, STOP LOSS 189.55

 

NZD/USD: Hold SHORT at 0.7142, TAKE PROFIT 0.7000, STOP LOSS 0.7205

 

Trade ideas:

 

USD/CAD: BUY at 1.2460, TAKE PROFIT 1.2667, STOP LOSS 1.2360

 

EUR/JPY: SELL at 139.85, TAKE PROFIT 138.05, STOP LOSS 140.51

 

EUR/GBP: BUY at 0.7260, TAKE PROFIT 0.7483, STOP LOSS 0.7195

 

EUR/USD: Possibly SELL

 

EUR/CHF: Possibly BUY

 

EUR/CAD: Possibly BUY

 

______________________________________________________________

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5346

[riki143]

Forex Analytics

 

NFP: what do large banks forecast?

5 June 2015

 

On Friday, June 5, the market attention is glued to the US employment report. What do large banks expect from the today’s release?

 

http://fxbazooka.com/upload/tiny/Analytics/2015/June/03/cal%20eng.png

 

Danske Bank: We expect 200K new jobs to have been added in May. Manufacturing is likely to remain the weak spot with the service sector driving job growth. Any rebound in average hourly earnings will indicate a clearer uptrend in wage inflation and convince the dovish Fed members that a 2015 hike is safe.

 

RBS: We expect the average hourly earnings to increase from 2.2% to 2.3% y/y (highest increase since 2009). Unemployment rate will hold steady at 5.4%

 

«Stronger-than-expected employment should keep the Fed on pace to hike the Fed Funds rate in September, and pulling forward of expectations could support the USD. A stronger USD and pulled-forward rate hike expectations could pressure commodity prices and weigh on commodity exporter currencies», analysts say.

 

Goldman Sachs: The 4-week MA of initial jobless claims fell by 19,K in May. However, the employment components of various manufacturing sectors have been weak. Mining sector job losses may persist as well. Warm weather likely inflated the jobs number in April, but this may have taken from jobs gains in May.

 

Barclays Capital:225K. Private payrolls are expected to have increased by 220K.

 

Credit Agricole: 210K. It will support our short-term upbeat view on the USD, especially against EUR, JPY and CHF.

 

More:

http://fxbazooka.com/en/analitycs/show/5354

[riki143]

Forex Analytics

 

EUR/USD: weekly wave analysis

 

Roman Petuchov, FBS analyst

 

Weekly. The market keeps on declining in a bearish impulse wave [C],. It is a final part of the wave flat B.

http://fxbazooka.com/upload/freelance/tiny/%D0%92%D0%BE%D0%BB%D0%BD%D0%BE%D0%B2%D0%BE%D0%B9/8%20%D0%B8%D1%8E%D0%BD%D1%8F/eurusd1.PNG

 

Daily. Complex bullish correction (4) is currently being built. After that we expect the decline to resume.

http://fxbazooka.com/upload/freelance/tiny/%D0%92%D0%BE%D0%BB%D0%BD%D0%BE%D0%B2%D0%BE%D0%B9/8%20%D0%B8%D1%8E%D0%BD%D1%8F/eurusd2.PNG

 

H4. On the new week we'll se the market recovering in a bullish impulse C of (y).

 

More:

http://fxbazooka.com/en/analitycs/show/5380

[riki143]

Forex Analytics

 

GBP/USD: weekly wave analysis

 

Roman Petuchov, FBS analyst

 

Weekly. The market is currently building a bullish zigzag A-B-C. Let's see the detailed markup of the impulse С.

http://fxbazooka.com/upload/freelance/tiny/%D0%92%D0%BE%D0%BB%D0%BD%D0%BE%D0%B2%D0%BE%D0%B9/8%20%D0%B8%D1%8E%D0%BD%D1%8F/gbpusd1.PNG

 

Daily. Bullish correction [4] of C has been constructed. Bearish impulse [5] is now being born. The decline will continue on the new week.

http://fxbazooka.com/upload/freelance/tiny/%D0%92%D0%BE%D0%BB%D0%BD%D0%BE%D0%B2%D0%BE%D0%B9/8%20%D0%B8%D1%8E%D0%BD%D1%8F/gbpusd2.PNG

 

H4. Correction (2) is over. The market is currenctly forming the wave (3). The decline will extend in the coming sessions.

 

More:

http://fxbazooka.com/en/analitycs/show/5381

[riki143]

Forex Analytics

 

Trading plan for June 9

 

By Kira Iukhtenko

 

https://www.youtube.com/watch?v=_e-YqNta5Lg

 

US Dollar is retracing lower on Monday following the sharp growth on Friday. However, we do not expect the bearish correction to be long-lived: strong NFP and average hourly earnings made the markets believe that the Fed could raise the interest rate in September. The market is now looking forward to the retail sales release on Thursday. Forecast is upbeat (+1.1%), so the greenback could get another boost.

 

EUR/USD recovered towards the 1.1200 mark from the Friday’s low of 1.1050. German bond yields returned to growth following the strong manufacturing figures. However, we expect the decline to resume soon: break below 1.1050 could open the way to 1.0820.

 

GBP/USD found some support at 1.5200, but we expect the pair to extend the decline this week. Watch the UK trade balance on Tuesday. Break below the 1.5200 support will open the way to 1.5080. We’ll remain bearish below 1.5450.

 

USD/JPY retraced from the Friday’s peak of 125.85, but holds above the 125.00 support. The pair remains overbought, so we could see a dip to 124.60 in the coming sessions. This area could be a good point to rebuy the US dollar.

 

AUD/USD has once again found support at 0.7600. Next resistance lies at 0.7740 и 0.7810. Watch the Australia’s business confidence index and home loans tomorrow. Data could surprise the market to the downside. What’s more, China is scheduled to release May CPI and PPI (forecasts – negative).

 

More:

http://fxbazooka.com/en/analitycs/show/5385

[riki143]

Forex Analytics

 

Danske Bank: trade signals for June 9

 

Open positions:*

 

AUD/USD: Hold SHORT at 0.7745, TAKE PROFIT 0.7572, STOP LOSS 0.7730

 

USD/CAD: Hold LONG at 1.2460, TAKE PROFIT 1.2667, STOP LOSS 1.2360

 

EUR/JPY: Hold LONG at 139.50, TAKE PROFIT 141.72, STOP LOSS 138.85 (revised)

 

GBP/USD: Hold SHORT at 1.5300, TAKE PROFIT 1.5089, STOP LOSS 1.5375

 

EUR/CAD: Hold LONG at 1.3850, TAKE PROFIT 1.4225, STOP LOSS 1.3690

 

GBP/JPY: Hold LONG at 189.80, TAKE PROFIT 193.17, STOP LOSS 189.55

 

Trade ideas:

 

EUR/USD: BUY at 1.1235, TAKE PROFIT 1.1380, STOP LOSS 1.1150

 

USD/JPY: BUY at 124.05, TAKE PROFIT 125.86, STOP LOSS 123.40

 

EUR/GBP: BUY at 0.7322 (revised), TAKE PROFIT 0.7483, STOP LOSS 0.7249

 

USD/CHF: Possibly SELL

 

EUR/CHF: Possibly BUY

 

NZD/USD: Possibly SELL

 

______________________________________________________________________

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5395

[riki143]

MARKET NEWS

 

Euro is supported by German data

9 June 2015

 

US dollar weakened versus its counterparts on Tuesday. On Monday US President Barack Obama denied a report that quoted him as saying the strong dollar was “a problem”. Still, the speculation has given many traders a reason to close USD longs.

 

EUR/USD rose to 1.1315. The single currency went up as German industrial production increased by 0.9% in May (forecast: +0.6%) and Bund yields rose to 0.89%. Uncertainty about Greece continues to limit the euro on the upside. Athens didn’t make any new proposal to its creditors.

 

USD/JPY eased down to 124.30. Japanese Economics Minister Akira Amari said that it was up to financial markets to decide whether currencies were moving in line with economic fundamentals.

 

AUD/USD failed to hold above 0.7700 despite the fact that Australian business confidence rebounded to a 9-month high in May and home loans gained in April more than expected. Inflation in China, Australia’s main trade partner, came out lower than expected (1.2% vs. 1.5% in the previous period).

 

More:

http://fxbazooka.com/en/news/show/2819

[riki143]

Forex Analytics

 

BNP Paribas: stay long on USD

9 June 2015

 

The US dollar retraced all the last week's post-NFP gains at the beginning of the new week. That's how analysts at the French bank BNP Paribas explain the USD dynamics:

 

"US 2-year Treasury yields dipped to the pre-NFP levels. It means that the markets still don't believe in a rate hike before December 2015. Dovish FOMC comments, delivered last week, contributed to the investors' pessimism".

 

However, analysts recommend holding the USD longs ahead of the May retail sales data on Thursday: "Market sentiment will quickly change if the retail sales data look more like the NFP, than like the Q1 GDP. There are a lot of indications that the retail figures could come out strong in May".

 

More:

http://fxbazooka.com/en/analitycs/show/5396

[riki143]

Forex Trading Plan For June 10

 

https://www.youtube.com/watch?v=ceCMA6ghYj4

 

More:

http://fxbazooka.com/en/video/54/380

[riki143]

MARKET NEWS

 

Yen rose on Kuroda's comments

10 June 2015

 

EUR/USD is little changed just below 1.1300. Market players are concerned about the lack of progress in negotiations between Greece and its creditors. A new reform proposal submitted by the nation this week failed to fully satisfy its European partners. Talks in Brussels with creditors were expected to continue today.

 

USD/JPY fell to 122.50 as the Bank of Japan Governor Haruhiko Kuroda said the yen’s effective exchange rate is “very weak” and unlikely to weaken further. According to Kuroda, the Federal Reserve’s future rate hike is already priced in exchange rate.

 

More:

http://fxbazooka.com/en/news/show/2830

[riki143]

Forex Analytics

 

Danske Bank: trade signals for June 10

 

Open positions:*

 

EUR/USD: Hold LONG at 1.1235, TAKE PROFIT 1.1380, STOP LOSS 1.1150

 

USD/JPY: Hold LONG at 124.05, STOP LOSS 123.40, Possibly BUY

 

EUR/CHF: Hold LONG at 1.0465, TAKE PROFIT 1.0602, STOP LOSS 1.0397

 

EUR/CAD: Hold LONG at 1.3850, TAKE PROFIT 1.4225, STOP LOSS 1.3690

 

GBP/JPY: Hold LONG at 190.85, STOP LOSS 190.35, Possibly BUY

 

AUD/USD: Hold SHORT at 0.7745, TAKE PROFIT 0.7572, STOP LOSS 0.7730

 

EUR/JPY: Hold LONG at 139.50, STOP LOSS 138.99, Possibly BUY

 

Trade ideas:

 

GBP/USD: BUY at 1.5280, TAKE PROFIT 1.5498, STOP LOSS 1.5215

 

USD/CAD: BUY at 1.2310, TAKE PROFIT 1.2473, STOP LOSS 1.2230

 

EUR/GBP: BUY at 0.7322, TAKE PROFIT 0.7483, STOP LOSS 0.7249

 

NZD/USD: SELL higher

 

USD/CHF: Possibly SELL

 

____________________________________________________________________

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5413

[riki143]

Forex Analytics

 

GBP/USD: likely to rise to 1.5500

10 June 2015

 

By: Dima Chernovolov

 

-GBP/USD reversed up from support level 1.5200

-Further gains likely toward 1.5500

 

GBP/USD continues to rise after the recent upward reversal from the support zone lying between the support level 1.5200, the lower daily Bollinger Band and the 50% Fibonacci Correction of the previous upward price impulse from April. This support zone also previously reversed the price at the start of this month – as you can see below.

 

GBP/USD is likely to rise further toward the next strong resistance level 1.5500 – from where the pair is likely to reverse down toward the next sell target at 1.5200.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/GBPUSD%20-%20Primary%20Analysis%20-%20Jun-10%200954%20AM%20(1%20day)%20650.png

 

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http://fxbazooka.com/en/analitycs/show/5414

[riki143]

Forex Analytics

 

Forex trading plan for June 11

 

Kira Iukhtenko

 

On Wednesday, the US dollar retraced ground versus almost all the major currencies. The Bank of Japan governor Kuroda who said that the yen wouldn’t weaken much more provoked the move. As a result, USD/JPY plummeted from by 200 pips to 122.50. Afterwards the greenback depreciated against the other majors, especially the commodity block currencies.

 

Tomorrow the market will be focused on the US May retail sales data. According to the forecast, the indicator rose by 1,1% versus a 0% growth in the April. We expect the demand for the US currency to return ahead of the release.

 

EUR/USD holds above 1.1300 as the German yields still support the euro. Strong resistance is seen at 1.1500, while support is gathered around the 1.1050 mark. We expect the bearish pressure to resume on Thursday. There are no important releases on the euro zone’s agenda tomorrow.

 

GBP/USD jumped to 1.5550, testing the 200-day MA to the upside. The pair consolidates slightly below the 38.2% Fibonacci retracement. Data today showed the UK NIESR GDP estimate rose 0.6% in May, overcoming expectations of 0.4%. We would like to note that the cable’s rally has already become overstretched – beware of a sharp selloff tomorrow.

 

Tonight we’ll get a bunch of important news for the commodity block currencies. Watch the RBNZ policy decision (some expect a rate cut to be announced), Australia labor market data (employment is expected to grow by 12.1K) and Chinese May industrial production figures (forecast – upbeat). All in all, the risky currencies could suffer from the tomorrow’s US retail sales. Strong data will likely increase the Fed’s rate hike expectations.

 

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http://fxbazooka.com/en/analitycs/show/5426