Market analysis and trade recommendations by FBS

[riki143]

MARKET NEWS

 

Markets await Greece, FOMC

8 July 2015

 

Collapse of the Chinese stock market is hurting the global risk sentiment. Shanghai Composite index fell to 3500 points in the opening hours. Chinese government seems to have lost grip over the market.

Greece remains another market pain. Negotiations are continuing in Brussels on Wednesday to try to find a solution to Greece's debt crisis after the “No” vote on the Sunday's referendum. Markets are awaiting the Greek revised economic program.

FOMC June 16-17 minutes will be released tonight. You should also listen to the Fed’s member Williams tonight. Perhaps he will comment the possible impact of the global uncertainty on the Fed’s policy.

 

More:

http://fxbazooka.com/en/news/show/3053

[riki143]

Forex Analytics

 

Danske Bank: trade signals for July 8

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.1057, TAKE PROFIT 1.0819 (revised), STOP LOSS 1.1124

 

USD/JPY: Hold SHORT at 122.46, TAKE PROFIT 121.05, STOP LOSS 123.20

 

USD/CHF: Hold LONG at 0.9412, TAKE PROFIT 0.9573 (revied), STOP LOSS 0.9395 (revised)

 

EUR/JPY: Hold SHORT at 135.95, TAKE PROFIT 133.10, STOP LOSS 136.15 (revised)

 

EUR/CAD: Hold LONG at 1.3930, TAKE PROFIT 1.4163, STOP LOSS 1.3800

 

Trade ideas:

 

GBP/USD: SELL at 1.5520, TAKE PROFIT 1.5365, STOP LOSS 1.5615

 

EUR/GBP: SELL at 0.7180, TAKE PROFIT 0.6989, STOP LOSS 0.7219

 

EUR/CHF: Look to BUY

 

GBP/JPY: Look to SELL

 

AUD/USD: Look to SELL

 

USD/CAD: Look to BUY

 

__________________________________________________________

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5710

[riki143]

Forex Analytics

 

Euro updating lows

8 July 2015

 

By Tatiana Norkina, FBS analyst

 

During yesterday's trading, the main currency pair on Forex has updated lows. A new extremum for the past five weeks has been recorded at the 1.0910. level. Thus, the downtrend is gaining momentum.

 

The Ichimoku indicator on the four-hour timeframe is fully bearish. Thus, the Ichimoku cloud has significantly expanded downwards, clearly indicating continuation of the downtrend in the long run. The Tenkan and Kijun lines have also formed a new dead cross, supporting the short-termers.

 

At the same time, the pair rolled back to Kijun-sen yesterday, into the 1.1000 area, due to its oversoldness. But powerful resistance has stopped the bulls. Therefore, the current levels may be a starting point for new sales.

 

Technical levels: support – 1.0900; сопротивление – 1.1000.

 

Trade recommendations:

 

1. Sell — 1.1000; SL — 1.1020; TP1 — 1.0900; TP2 — 1.0850.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/July/08/eurusdh4-TN.png

 

More:

http://fxbazooka.com/en/analitycs/show/5708

[riki143]

Forex Analytics

 

Pound plummeting

8 July 2015

 

By Tatiana Norkina, FBS analyst

 

The recent bearish pressure on the British currency has had its consequences. During yesterday's trading, the GBP/USD currency pair has tumbled into the 54th figure area, breaking through the 1.5550 support of the four-hour Ichimoku cloud lower border.

 

During this period, the cloud has changed its character to downward, clearly defining the bearish trend in the market. The dead cross formed by the Tenkan and Kijun lines a week earlier is active as well.

 

Under such circumstances, we are obvious to expect further decline of the currency pair rate, up until the 53rd figure.

 

Technical levels: support – 1.5320, 1.5270; resistance – 1.5450, 1.5500.

 

Trade recommendations:

 

1. Sell — 1.5420; SL — 1.5450; TP1 — 1.5320; TP2 — 1.5270.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/July/08/gbpusdh4-TN.png

 

More:

http://fxbazooka.com/en/analitycs/show/5709

[riki143]

Forex Analytics

 

Trading plan for July 9

 

Kira Iukhtenko

 

https://www.youtube.com/watch?v=hjWSnBn6KKA

 

Market sentiment on Greece improved on Wednesday as the Greek government has finally applied for a third aid program. No details have been announced yet, but this is an important step towards the long-awaited solution. Market is already pricing in the positive outcome. As a result, demand for the safe US dollar declined.

 

Meanwhile, China’s stock crisis is gaining traction. Shanghai Composite stock index dipped to a new low of 3500 on Wednesday. Japanese yen strengthened significantly as the speculative capital is flooding from China to safe Japan.

 

Late on Wednesday, don’t miss the FOMC minutes release and the Fed’s member Williams speech. US Dollar could recover on Thursday in case if there are some hints on a policy tightening coming in September. Tomorrow watch the unemployment claims in the United States.

 

EUR/USD

 

-Trying to fix above 1.1050 (trend line)

-If it does – buy with a target of 1.1100 on Greek optimism

-Bearish targets are 1.0910, 1.0820

-There are no releases in euro zone, monitor the Greek headlines

 

GBP/USD

 

-Pound is being sold aggressively on the technical factors

-Brokebelow38,2% Fibonacci

-Local support has been formed at 1.5350

-Hold short from 1.5400, target 1.5200, stop 1.5520

-BOE meeting on Thursday (no changes expected)

 

USD/JPY

 

-Fell by more than 150 on China’s woes, broke below the 121.70 support

-Found some buying interest at the 100-day MA (121.00)

-Break lower would pave the ground to 120.00 (trend support)

-Resistance– 122.40, 123.30

-Watch the Fed’s news and China

 

AUD/USD

 

-Tested a fresh 6-year low of 0,7370

-Resistance – 0,7530, we target 0,7000 in the coming weeks

-Iron ore price collapsed by 10% today

-Thursday: Australia labor market data, China’s CPI

 

More:

http://fxbazooka.com/en/analitycs/show/5715

[riki143]

Forex Analytics

 

Danske Bank: trade signals for July 9

 

Open positions:

 

USD/JPY: Hold SHORT at 121.20, TAKE PROFIT 119.83, STOP LOSS 121.73

 

USD/CHF: Hold LONG at 0.9412, TAKE PROFIT 0.9573, STOP LOSS 0.9395 (revised)

 

EUR/JPY: Hold SHORT at 135.95, TAKE PROFIT 131.73, STOP LOSS 135.75 (revised)

 

EUR/CAD: Hold LONG at 1.3930, TAKE PROFIT 1.4341 (revised), STOP LOSS 1.3895 (revised)

 

Trade ideas:

 

GBP/USD: SELL at 1.5440, TAKE PROFIT 1.5258, STOP LOSS 1.5525

 

NZD/USD: SELL at 0.6770, TAKE PROFIT 0.6590, STOP LOSS 0.6820

 

USD/CAD: BUY at 1.2720, TAKE PROFIT 1.2957, STOP LOSS 1.2640

 

EUR/GBP: BUY at 0.7165, TAKE PROFIT 0.7266, STOP LOSS 0.7095

 

EUR/CHF: Possibly SELL

 

GBP/JPY: Possibly SELL

 

AUD/USD: Possibly SELL

 

____________________________________________________________

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5723

[riki143]

MARKET NEWS

 

FOMC minutes: dovish tone

9 July 2015

 

June FOMC meeting minutes, released on Wednesday, turned out to be a dovish factor for the US currency. Here are the major points you have to know about the document:

 

-Many FOMC members need more recovery proofs to tighten monetary policy;

-Some of them are worried about a premature rate hike;

-Some of them think the economy is ready for the first hike;

-Greek problems are dangerous for the US economy;

-Some FOMC members doubt Greece will find a compromise with EU;

-US labor market recovered over Q2;

-After the first hike the economy should be closely monitored.

 

Meanwhile, the Federal Reserve Bank of San Francisco President John Williams still sees a first rate hike in 2015.

 

More:

http://fxbazooka.com/en/news/show/3062

[riki143]

Forex Analytics

 

Trading plan for July 10

 

Kira Iukhtenko

 

https://www.youtube.com/watch?v=1NrJ4MglVk0

 

Market sentiment improved on Thursday, as the Greek question seems to close to an end. Greek government is on its way to find a compromise with the European creditors. China’s stock market retraced higher after days of a dramatic decline, adding to the market optimism. Demand for the US dollar remains limited after the FOMC meeting minutes released on Wednesday. Commodities and risky currencies (AUD, NZD, CAD) have recovered some ground on Thursday amid the improved market picture.

 

EUR/USD is hovering around 1.1050, trying to fix higher. Resistance lies at 1.1100/30. The pair could dip to 1.0910 and 1.0820 in case if the Greek optimism lowers. GBP/USD has also recovered some ground after the yesterday’s drop, but holds below 38.2% Fibonacci (1.5400). Key resistance lies at 1.5500, support – at 1.5300. Fundamentally, the market will now be waiting for the BOE minutes release on July 22.

 

On Friday, the market dynamics will be defined by the Asian morning. The upbeat sentiment could persist.

 

More:

http://fxbazooka.com/en/analitycs/show/5727

[riki143]

Forex Analytics

 

USD/JPY: buy target - 122.50

10 July 2015

 

By: Dmitriy Chernovolov

 

-USD/JPY reversed from support zone

-Next buy target - 122.50

 

USD/JPY yesterday reversed up sharply from the support zone located between the price level 120.00 and the 50% Fibonacci Correction of the previous upward price move from last December (as you can see below). The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Piercing Line – standing well outside of the lower daily Bollinger Band – which strengthened this bullish signal.

 

USD/JPY is likely to rise further - in line with the strong uptrend visible on the daily charts – toward the next buy target at the resistance level 122.50.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/USDJPY%20-%20Primary%20Analysis%20-%20Jul-10%200941%20AM%20(1%20day).png

 

More:

http://fxbazooka.com/en/analitycs/show/5730

[riki143]

Forex Analytics

 

CHF/JPY: buy targets - 130.00 and 131.60

10 July 2015

 

By: Dmitriy Chernovolov

 

-CHF/JPY reversed from support level 128.20

-Next buy target - 130.00 and 131.60

 

CHF/JPY yesterday reversed up from the support zone lying between the following support levels: the support trendline of the daily up channel from March, the lower daily Bollinger Band, 50% Fibonacci Correction of the previous sharp minor impulse wave 1 and the support level 128.20 (which reversed the pair multiple times in May, as you can see below).

 

CHF/JPY is likely to continue to rise further from the current levels toward the next buy targets 130.00 and 131.60 (former support level which reversed (a) wave in June).

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5731

[riki143]

Forex Analytics

 

USD/JPY: forecast for July 13-19

10 July 2015

 

Kira Iukhtenko

 

USD/JPY was driven mostly by the global risk sentiment on the past week. At the beginning of the week the pair dipped to 120.50 on the wave of risk aversion, but later has recovered back above 122 yen. Next resistance is seen at 123.00 yen - this is where the trend resistance lies.

 

Next week the market will likely be led by the same factors - concerns about Greece and China. On Wednesday the Bank of Japan will hold its policy meeting - we expect no changes in monetary policy to be announced. However, the market could het some comments about the consequences of the Chinese events for the Japan's economy. This could cause renewed expectations for a BOJ stimulus in the coming months - bullish factor for the USD/JPY.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/July/09/USDJPY%20Daily.png

 

More:

http://fxbazooka.com/en/analitycs/show/5737

[riki143]

Forex Analytics

 

EUR/USD: forecast for July 13-19

10 July 2015

 

Kira Iukhtenko

 

EUR/USD slipped 1.0900 on the past week. However, on Thursday the Greek Prime Minister Tsipras proposed a bag of reforms to the European leaders, switching the market sentiment towards buying the European currency. As a result, at the end of the week EUR/USD recovered back above 1.1100.

 

European leaders will be discussing the Greek proposal over the weekend. If they find it not sufficient, on Monday euro could come under resumed bearish pressure, targeting 1.0910, 1.0820 and then lower. If a compromise is found by Monday, the pair may recover towards the 1.1400 mark. We don’t see any fundamental reasons for a move higher.

 

Apart from the Greek news, pay attention to the ZEW economic sentiment index on Monday. Thursday is another eventful day of the coming week: ECB meeting, Mario Draghi’s press-conference and final June CPI are on the schedule.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/July/09/EURUSD%20Daily.png

 

More:

http://fxbazooka.com/en/analitycs/show/5733

[riki143]

Forex Analytics

 

US Dollar: forecast for July 13-19

10 July 2015

 

Kira Iukhtenko

 

The US Dollar Index slipped below 96 points on the past week. The greenback was pressured by the two major factors: risk appetite recovery and dovish Fed’s minutes released on Wednesday. What’s more, on Thursday the market has seen above-the-forecast jobless claims in the United States. Investors thought the US economy is still too weak for a rate hike in September.

 

Next week in the United States will be full of important economic releases. We’ll be watching the US retail sales on Monday. On Wednesday and on Thursday the Fed chief Jannet Yellen will hold its semi-annual testimony in Congress. We don’t expect any direct announcements to be made, so the US Dollar will likely stay under moderate pressure on the coming week. However, an unexpected spike in the global uncertainty (any negative developments in Greece or China) could make the US currency attractive for investments as a safe heaven.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/July/09/USD%20index%20daily.png

 

More:

http://fxbazooka.com/en/analitycs/show/5734

[riki143]

Forex Analytics

 

Forex trading plan for July 14

 

Kira Iukhtenko

 

https://www.youtube.com/watch?v=Ovx2XyqKLRE

 

Risk sentiment improved on Monday as there was the long-awaited agreement reached on the Greek issue. US Dollar strengthened on the news as lowered Grexit expectations support the probability of an earlier Fed’s rate hike. The current week could lift the US dollar higher – if data does not disappoint. We will be watching the June US retail sales on Tuesday – the indicator is expected to hold in the green zone.

 

EUR/USD slipped to 1.1000. Break below the 1.1050 support is seen as a strong selling signal. Next bearish targets – 1.0940, 1.0910 and 1.0820. Watch the ZEW economic sentiment indices on Tuesday.

 

GBP/USD jumped 1.5580 on the Greek optimism, but has rapidly returned to the 550day MA at 1.5510. We still see a potential for a bullish reversal. Resistance to watch lies at 1.5550. In this case, we would buy the pair targeting 1.5800. Market will be focused on the UK inflation figures on Tuesday.

 

AUD/USD hovers around its 6-year lows below 0.7400. We hold short targeting 0.7000 in the mid-term. Watch the NAB business confidence on Tuesday, and do not forget to monitor China’s stock indices as well.

 

USD/JPY extended the last week’s rally on Monday. The pair broke out of the bearish channel, overcoming the 122.80 resistance. Next bullish target is seen at 124.30.

 

More:

http://fxbazooka.com/en/analitycs/show/5754

[riki143]

Forex Analytics

 

Danske Bank: trade signals for July 14

 

Open positions:*

 

USD/JPY: Hold LONG at 123.48, TAKE PROFIT 124.45, STOP LOSS 123.10

 

AUD/USD: Hold SHORT at 0.7455, TAKE PROFIT 0.7268, STOP LOSS 0.7510

 

USD/CAD: Hold LONG at 1.2720, TAKE PROFIT 1.2957, STOP LOSS 1.2655 (revised)

 

EUR/JPY: Hold LONG at 135.45, TAKE PROFIT 139.17, STOP LOSS 135.39

 

EUR/CHF: Hold LONG at 1.0470, TAKE PROFIT 1.0574, STOP LOSS 1.0419

 

EUR/CAD: Hold LONG at 1.3930, TAKE PROFIT 1.4490, STOP LOSS 1.3955 (revised)

 

NZD/USD: Hold SHORT at 0.6770, TAKE PROFIT 0.6590, STOP LOSS 0.6820

 

Trade ideas:

 

GBP/USD: SELL at 1.5545, TAKE PROFIT 1.5330, STOP LOSS 1.5591

 

EUR/USD: SELL at 1.1056, TAKE PROFIT 1.0916, STOP LOSS 1.1092

 

EUR/GBP: SELL at 0.7136, TAKE PROFIT 0.6945, STOP LOSS 0.7191

 

GBP/JPY: BUY at 190.80, TAKE PROFIT 193.53, STOP LOSS 189.65

 

USD/CHF: BUY lower

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5767

[riki143]

Forex Analytics

 

Forex trading plan for July 15

 

Kira Iukhtenko

 

https://www.youtube.com/watch?v=C98RlwJIa4E

 

US Dollar has lost some ground following the weak June retail sales data release. On Wednesday, we’ll be watching US PPI and manufacturing indices. Both on Wednesday and on Thursday the Fed’s chief Yellen will deliver a semi-annual speech in Congress. The market will be closely watching her comments to get new hints on the Fed’s rate hike timing.

 

EUR/USD jumped to 1.1100 following the retail sales release, but the bullish impulse was short-lived. There are no releases on the EZ agenda tomorrow, but we’ll be watching the Greek headlines. Greek parliament is expected to pass the reforms project tomorrow. Support for EUR/USD lies at 1.0910 and 1.0820.

 

GBP/USD jumped above 1.5600on hawkish BOE comments. Meanwhile, UK inflation remains low. We’ll be watching the UK labor market figures tomorrow – there is more bullish risk for the cable. Watch the 1.5800 resistance.

 

AUD/USD has recovered some ground from a 6-year low, but holds below the 0.7500 resistance. Watch China’s Q2 GDP and industrial production tomorrow. Australia is scheduled to release Westpac consumer sentiment index. We target 0.7000 in the coming weeks.

 

USD/JPY came under slight pressure following a 3-day rally, but still remains in a bullish trend. The Bank of Japan meeting will take place tomorrow. No changes in policy are expected, but the market awaits fresh economic forecasts.

 

More:

http://fxbazooka.com/en/analitycs/show/5771

[riki143]

Forex Analytics

 

Trading plan for July 16

 

Kira Iukhtenko

 

Demand for the US Dollar increased on Wednesday after the Fed's chief Janet Yellen gave out rather hawkish comments while speaking in Congress on Wednesday. What's more, strong data releases (PPI, manufacturing indices) served as a proof that the Fed has enough arguments to hike in 2015. As a result, the greenback rose to the July highs. On Thursday we'll listen to Yellen once again. You should also pay attention to the US jobless claims and Philly Fed manufacturing index tomorrow. We remain bullish for the USD.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/July/15/%D0%A1%D0%BD%D0%B8%D0%BC%D0%BE%D0%BA%20%D1%8D%D0%BA%D1%80%D0%B0%D0%BD%D0%B0%202015-07-15%20%D0%B2%2018.12.14.png

 

It's a good time to sell the EUR/USD pair as it is currently testing the 1.0950 support. Break lower would open the way to 1.0820 in the coming sessions. Hawkish Fed and dovish expectations for the ECB meeting on Thursday will likely increase bearish pressure for the pair tomorrow.

 

GBP/USD failed to overcome 1.5670 as the UK labor market data disappointed the market: jobless claims and unemployent rate both increased. Bearish risk for the pair rose after the Yellen's speech. Bearish targets lie at 1.5340 and 1.5200.

 

Meanwhile, bullish prospects for USD/JPY increased. Break above 124.40 is needed to resume the broad bullish trend. BOJ's economic and inflation forecast cut is a new bullish factor for the market.

 

We remain bearish for all the commodity block currencies. Hawkish Fed and the new wave of the China's stock selloff will likely pressure the commodity markets in the near future. Get ready to sell AUD, NZD and CAD on corrective rallies.

 

More:

http://fxbazooka.com/en/analitycs/show/5783

[riki143]

Forex Analytics

 

Aussie updating lows

16 July 2015

 

by Tatiana Norkina, FBS analyst

 

Yesterday, the Australian updated local lows again, decreasing to the 0.7350 mark. The main trigger for sales was the bulls' failure to get deeper into the four-hour Ichimoku cloud: a powerful resistance of the Senkou Span A line in the 0.7480 area has again thrown the AUD/USD currency pair rate into the negative zone.

 

In the meantime, the Tenkan and Kijun lines have formed a new dead cross, and the cloud has continued expanding downwards, supporting the bearish sentiment in the market. Small consolidation at the current levels is obvious to be followed by further rate's decline.

 

Technical levels: support – 0.7350; resistance – 0.7400.

 

Trade recommendations:

 

http://fxbazooka.com/upload/tiny/Analytics/2015/July/16/AUDUSDH4-TN.png

 

More:

http://fxbazooka.com/en/analitycs/show/5785

[riki143]

Forex Analytics

 

USD/JPY growth stalled

16 July 2015

 

Tatiana Norkina, FBS analyst

 

As expected, the USD/JPY currency pair has rebounded from the four-hour Tenkan-sen line support and grown up to 123.90 during the previous day. However, these levels, in the ​​124th figure area, contain a poweful resistance that does not let the bulls futher upwards. The flow of new buyers is constrained by the market overboughtness as well.

 

At the same time, the Ichimoku indicator is quite positive: the cloud keeps expanding against the active golden cross.

 

If the bulls fail to break above 124.00 in the coming hours, the short-term bearish scenario development is quite likely, which would result in the pair's correction into the Tenkan-Kijun channel.

 

Technical levels: support – 123.40; resistance – 123.90.

 

Trade recommendations:

 

1. Buy — 123.40; SL — 123.20; TP1 — 123.90; TP2 — 124.20.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/July/16/usdjpyh4-TN.png

 

More:

http://fxbazooka.com/en/analitycs/show/5786

[riki143]

Forex Analytics

 

Danske Bank: trade signals for July 16

 

Open positions:

 

EUR/USD: Hold SHORT from 1.1000, TAKE PROFIT 1.0819, STOP LOSS 1.1089

 

EUR/GBP: Hold SHORT from 0.7136, TAKE PROFIT 0.6945, STOP LOSS 0.7146

 

EUR/CHF: Hold SHORT from 1.0430, TAKE PROFIT 1.0315, STOP LOSS 1.0470

 

EUR/CAD: Hold LONG from 1.3930, TAKE PROFIT 1.4490 (revised), STOP LOSS 1.3955 (revised)

 

GBP/JPY: Hold LONG from 190.80, TAKE PROFIT 195.26, STOP LOSS 191.43

 

AUD/USD: Hold SHORT from 0.7455, TAKE PROFIT 0.7268, STOP LOSS 0.7510

 

Trade ideas:

 

USD/JPY: BUY at 123.20, TAKE PROFIT 124.74, STOP LOSS 122.86

 

USD/CHF: BUY at 0.9485, TAKE PROFIT 0.9719, STOP LOSS 0.9399

 

NZD/USD: SELL at 0.6650, TAKE PROFIT 0.6403, STOP LOSS 0.6729

 

USD/CAD: BUY at 1.2888, TAKE PROFIT 1.3102, STOP LOSS 1.2815

 

EUR/JPY: Possibly SELL

 

GBP/USD: Possibly BUY

 

___________________________________________________________________

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5788

[riki143]

Forex Analytics

 

Forex trading plan for July 17

 

Kira Iukhtenko

 

https://www.youtube.com/watch?v=ZmGak0iR-_Y

 

EUR/USD trading prospects have significantly worsened on Thursday. Despite the formal improvement of the Greek issue, the market feels the Greek drama is turning into a tragedy. Greek debt keeps on growing and time to pay will eventually come. EUR/USD dipped to a new 6-week low of 1.0850 on Thursday. The ECB head Mario Draghi tried to cheer the market up, but the 1.0900 remains a hard nut to crack. Sellers stand ready to step into the market at the higher levels. We see potential for a decline to 1.0720/1.0650. Tomorrow there are no releases to watch in the euro zone, so the market will be driven by the USD trend.

 

As for the US Dollar, the picture has turned bullish over the past week. The Fed’s chief Janet Yellen sounds moderately dovish, while the data releases confirm economic strength. Market expectations for a September hike have increased. On Friday we’ll be watching another news block in States: June CPI, building permits and consumer sentiment index. USD Index approached the 98 point resistance. We expect it to be broken in the coming sessions.

 

Commodity block currencies remain pretty vulnerable. We’ll be watching USD/CAD tomorrow. The pair is now testing the 2009 highs. Canada is scheduled to releases CPI tomorrow. Bullish targets are seen at 1.3000 and 1.3060.

 

More:

http://fxbazooka.com/en/analitycs/show/5795

[riki143]

Forex Analytics

 

US Dollar: forecast for July 20-26

17 July 2015

 

Kira Iukhtenko

 

US Dollar index rose to a 1,5-month high, approaching the 98 points resistance. The currency was pushed higher by the hawkish Fed’s governor Yellen’s comments. She has clearly confirmed the Fed’s intention to raise interest rates in the year 2015 despite the global economic concerns. These days, more than 80% of the economists, surveyed by the WSJ, expect the first rate hike to come in September.

 

We expect the US Dollar to resume the upside if the US data doesn’t disappoint. The next week’s economic calendar is rather light with the unemployment claims dominating the scene on Thursday. You should also watch the manufacturing PMI on June.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/July/16/USD%20index.png

 

More:

http://fxbazooka.com/en/analitycs/show/5804

[riki143]

Forex Analytics

 

EUR/USD: forecast for July 20-26

 

Kira Iukhtenko

 

We’ve been watching the Greek drama closely for the past couple of weeks, but now it seems to be close to an end. It has become evident that no one wants Greece to exit the currency block. European ministers will continue to support the country with a third bailout program until the next crisis arises. Market focus is currently turning back to the monetary policy divergence between the Fed and the ECB. This factor will pressure the EUR/USD pair in the coming months.

 

EUR/USD fell by 2.5% over the past week, approaching the 7-week low. Next support lies at 1.0820. Break below would open the way for a decline to 1.0730/00 and 1.0650. Strong resistance– 1.0900/10 and 1.1050.

 

Euro zone’s economic calendar for the new week is rather light. Pay attention to the June PMI indices on Friday.

 

http://fxbazooka.com/upload/tiny/Analytics/2015/July/16/EURUSD%20Daily.png

 

More:

http://fxbazooka.com/en/analitycs/show/5803

[riki143]

Forex Analytics

 

Danske Bank: trade signals for July 20

 

Open positions:*

 

EUR/USD: Hold SHORT at 1.1000, TAKE PROFIT 1.0785, STOP LOSS 1.1041

 

USD/JPY: Hold LONG at 123.95, TAKE PROFIT 125.38, STOP LOSS 123.25

 

AUD/USD: Hold SHORT at 0.7455, TAKE PROFIT 0.7268, STOP LOSS 0.7447 (revised)

 

EUR/CHF: Hold SHORT at 1.0430, TAKE PROFIT 1.0315, STOP LOSS 1.0470

 

EUR/CAD: Hold LONG at 1.3930, TAKE PROFIT 1.4490, STOP LOSS 1.3955

 

Trade ideas:

 

USD/CHF: BUY at 0.9557, TAKE PROFIT 0.9743, STOP LOSS 0.9470

 

USD/CAD: BUY at 1.2888, TAKE PROFIT 1.3102, STOP LOSS 1.2815

 

NZD/USD: SELL at 0.6620, TAKE PROFIT 0.6403, STOP LOSS 0.6695

 

EUR/GBP: Possibly SELL

 

GBP/JPY: Possibly BUY

 

EUR/JPY: Possibly SELL

 

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

 

More:

http://fxbazooka.com/en/analitycs/show/5823

[riki143]

Forex Analytics

 

Forex trading plan for July 21

 

 

https://www.youtube.com/watch?v=Q3IZdfbGvo8

 

EUR/USD paused in the 1.0818 area (May low) as Greece made debt repayments to the ECB and the IMF. Support is in the 1.0750/10 region ahead of 1.0660. Resistance is at 1.0915 and 1.0965. With empty economic calendars in the US and the euro area traders await more comments and news on Greek bailout.

 

GBP/USD slid to the 55-day MA in the 1.5540 zone after last week it met resistance in the 1.5675 area. The next important event for the British currency is the publication of the Bank of England’s meeting minutes on Wednesday. The minutes will give us more insight into the BoE’s mindset after Governor Carney’s hawkish comments last week. If other members of British central bank don’t share Carney’s optimism, pound will decline. If not, sterling will fight dollar’s strength. Ahead of the release we expect more sideways trading. Support for cable is at 1.5500 and 1.5450, while resistance lies at 1.5675 and 1.5700.

 

More hawkish comments from the Fed’s Chair Janet Yellen and relief in Greece made USD/JPY continue its V-shaped recovery and rise above 124.00. Resistance is at 124.50 and 125.00. Support is at 123.70, 123.30 and 122.90. There won’t be any important releases either in the US or in Japan on Tuesday, so watch the risk sentiment and the development of the Greek story.

 

AUD/USD dipped to 0.7327. Aussie was affected by the sharp decline in gold price. Gold fell by $50 on Monday as the stop orders were hit in the situation of low liquidity. The Reserve Bank of Australia will release the minutes of its July policy meeting on Tuesday. Watch this publication for hints whether the RBA will move from the position of more easing to the more neutral view. Technically, after AUD/USD made a break to the downside this month, it remains under negative pressure. Resistance at 0.7500/0.7586 will limit the pair on the upside. Sell on the recovery.

 

More:

http://fxbazooka.com/en/analitycs/show/5825