Market analysis and trade recommendations by FBS

[riki143]

Forex Analytics

 

Forex trading plan for April 6

 

By Kira Iukhtenko

 

https://www.youtube.com/watch?v=fvxeC1Wl-AU

 

US Dollar extended recovery on Tuesday following the relatively upbeat US labor market figures on Friday. On Wednesday, the market will focus on on the FOMC meeting minutes release фе 18:00 GMT on Wednesday. As for the EUR/USD currency pair, we could see more weakness here tomorrow. Selling below 1.1350 is good trading idea. However, in the medium term we still remain bullish for the European currency.

 

GBP/USD remains under bearish pressure, but the market is strongly oversold now. We expect a temporarily pullback to 1.4200 before a new wave of weakness will follow. The pair targets the 1.4070/50 support area this week. As for the economic calendar, watch the UK housing price indx tomorrow.

 

USD/JPY was a big mover on Tuesday, smashed by a wave of risk aversion. A new selling impulse followed in the American session. Break below 110.00 yen (channel support) will triger a stronger selling impulse for the pair.

 

More:

https://fxbazooka.com/en/analitycs/show/8508

[riki143]

Forex Analytics

 

EUR/USD: bulls have a rest in a range of "Triangle"

6 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/6/6-4-2016-EUR-H4.png

 

The main trend on the four-hour chart is a still bullish. The price has broken “Triangle” pattern’s upper side and reached a resistance at 1.1460 afterwards. So, we’ve got a local consolidation above the current trend line. The market is likely going to get a support at 1.1341 – 1.1334. If so, bulls will have a chance to resume their rally towards a resistance at 1.1437.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/6/6-4-2016-EUR-H1.png

 

There’s a flat in progress between the levels 1.1409 and 1.1334. Moreover, the current price movement is likely going to form a “Triangle” pattern. So, its lower side can act as a support. If we see a pullback from it, then a rise will be on the table once again, so we should keep an eye on a resistance area at 1.1409 – 1.1437.

 

More:

https://fxbazooka.com/en/analitycs/show/8514

[riki143]

Forex Analytics

 

GBP/USD: bears poking fun at bulls in the Pennant

6 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/6/6-4-2016-GBP-H4.png

 

The price has been falling down since a “Triple Top” arrived at the last high. We’ve got a support at 1.4117, but this is likely not the end of the current bearish rally. The market is probably going to get a support at 1.4052. If so, bulls will have an opportunity to achieve a resistance at 1.4170.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/6/6-4-2016-GBP-H1.png

 

As we can see on the one-hour chart, the up trend line has been broken. There’s a possible “Pennant” pattern, so the pair is likely going to reach a support at 1.4056. If a pullback appears from this level, then it’ll be a chance to see at least a local correction.

 

More:

https://fxbazooka.com/en/analitycs/show/8515

[riki143]

Forex Analytics

 

GBP/JPY: sell targets - 155.00 and 152.50

6 April 2016

By: Dmitriy Chernovolov

 

-GBP/JPY broke daily Triangle

-Next sell targets - 155.00 and 152.50

 

GBP/JPY continues to fall inside the minor impulse wave 3, which earlier broke through the support zone lying at the intersection of the support trendline of the daily Triangle from February and the support level 158.60 (which stopped the previous minor impulse wave 1, as can be seen from the daily GBP/JPY chart below). The breakout of this support zone intensified the bearish pressure on this currency pair – accelerating the active impulse waves 3 and (5).

 

GBP/JPY is likely to fall to the next sell target at the nearby support level 155.00 (low of the previous intermediate impulse wave (3)) – the breakout of which can lead to further losses toward 152.50.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-06%20GBPJPY%20-%20Primary%20Analysis.png

 

More:

https://fxbazooka.com/en/analitycs/show/8518

[riki143]

Forex Analytics

 

CHF/JPY: sell target – 114.00

6 April 2016

By: Dmitriy Chernovolov

 

-CHF/JPY falling inside impulse waves 5 and (3)

-Next sell target – 114.00

 

CHF/JPY has been falling sharply in the last few trading sessions inside the minor impulse wave 5, which belongs to the intermediate impulse wave (3) from the middle of October. The active impulse wave 5 started earlier – when the pair reversed down from the resistance zone lying between the resistance level 117.30, 50% Fibonacci correction of the preceding downward impulse from December and the upper resistance trendline of the daily down channel from June of 2015.

 

Having recently broken below the support level 116.00 - CHF/JPY is likely to fall toward the next sell target at the support level 114.00.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-06%20CHFJPY%20-%20Primary%20Analysis.png

 

More:

https://fxbazooka.com/en/analitycs/show/8519

[riki143]

Forex Analytics

 

EUR/USD: the flat is rich of candle patterns

6 April 2016

Galina Svetlova

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/6/0604eurusdH4.png

 

There’re a “Doji” and an “Engulfing” at the last high, which have been confirmed enough. So, the market is likely going to reach the nearest support line. As we can see on the Daily chart, we’ve got a confirmation for the previously formed “High Wave” and “Hanging Man”, so today’s candle has a reason to be a black one.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/6/0604eurusdH1.png

 

The current flat is going on, which already brought a “Harami” and a “High Wave”. The pair is likely going to get a support on the 89 Moving Average. If so, bulls will have a chance to return to the market.

 

More:

https://fxbazooka.com/en/analitycs/show/8520

[riki143]

Forex Analytics

 

EUR/USD: "Belt Hold" throw bulls for a loop

7 April 2016

Galina Svetlova

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/7/0704eurusdH4.png

 

We've got a “Doji”, an “Engulfing” and a “Harami” patterns at the last highs, but their confirmation hasn't formed yet. Also, there’s a bullish “Harami” at the local low. The market is likely going to reach the nearest support line, which has effectively stopped bears earlier. So, if it happens for the second time, bulls will be unstoppable. As we can see on the Daily chart, there’re a “High Wave” and a “Hanging Man”, but they both haven’t confirmed. So, the only thing bears can deliver at this moment is just a movement towards to the nearest support.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/7/0704eurusdH1.png

 

There's a “High Wave” on the 89 Moving Average. At the same time, we've got an “Engulfing” and a “Belt Hold” at the local high. So, the pair is likely going to get a support on the 89 Moving Average once again.

 

More:

https://fxbazooka.com/en/analitycs/show/8530

[riki143]

Forex Analytics

 

EUR/JPY: sell target – 122.10

7 April 2016

By: Dmitriy Chernovolov

 

-EUR/JPY falling inside impulse wave (5)

-Next sell target – 122.10

 

EUR/JPY has been falling in the last few trading sessions inside the sharp indeterminate impulse wave (5) – which started earlier - when the price reversed down from the resistance zone lying between the resistance level 128.00, upper daily Bollinger Band, and the 61.8% Fibonacci correction of the previous sharp downward impulse from the end of January. The price earlier broke the daily Rising Wedge from February and the support level 124.00 – which further accelerated the active impulse wave (5)

 

EUR/JPY is likely to fall to the next sell target at the support level 122.10 (which stopped the previous sharp intermediate impulse wave (3) in February).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-07%20%20EURJPY%20-%20Primary%20Analysis%20-.png

 

More:

https://fxbazooka.com/en/analitycs/show/8533

[riki143]

Forex Analytics

 

Trading plan for April 8

 

By Kira Iukhtenko

 

USD/JPY was the major mover on Thuesday, plummeting below 108.00. The recent nearish trend was strengthened by the dovish FOMC meeting minutes, released on Wednesday. We maintain a bearish view for the pair, targeting 100 yen in the medium term. Intermediate support is seen at 107.30 and 105.10. Bullish correction is somewhere close, but we’d recommend using it for opening new selling positions.

 

Meanwhile, EUR/USD remains rather resilient despite the dovish ECB minutes released today. It holds in a sideways 1.1450/1.1340 range. Pay attention: we are close to a strong resistance at 1.1500, so buying at the current levels seems to be risky. At the same time, the medium-term prospects of the pair remain upbeat.

 

GBP/USD found some support at 1.4050, but still remains under bearish control. Watch the UK manufacturing production data on Friday – the forecast is downbeat, so it could trigger a new wave of GBP selling. We recommend going short on a break below 1.4050.

 

AUD/USD holds below the former March support line. A break below the 0.7475 support could confirm a double top formation and open the way to our next target at 0.7380.

 

More:

https://fxbazooka.com/en/analitycs/show/8537

[riki143]

Forex Analytics

 

EUR/USD: series of "V" tops

8 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/8/8-4-2016-EUR-H4.png

 

The main trend remains bullish. There's a flat in progress above the upper side of “Triangle” pattern. The market is likely going to decline towards a support at 1.1326 in the short term. If a pullback arrives, then bulls will probably try to reach a resistance at 1.1437.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/8/8-4-2016-EUR-H1.png

 

As we can see on the one-hour chart, the last upward channel has been broken, but then the price got a support at 1.1356, so bears couldn't do anything. At the same time, it's likely to see a local downward movement towards a support at 1.1341 – 1.1326 during the day. Considering a possible pullback from this area, we should keep an eye on a resistance at 1.1376 – 1.1409.

 

More:

https://fxbazooka.com/en/analitycs/show/8542

[riki143]

Forex Analytics

 

GBP/USD: "Triple Top" is still on the table

8 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/8/8-4-2016-GBP-H4.png

 

We've got a “V-Bottom” pattern, which led to the current upward correction. Finally, the price faced a resistance at 1.4117 and started to decline afterwards. The market is likely going to continue falling down. If the price gets a support at 1.3995, it’ll be a chance to see a bullish movement towards a resistance at 1.4117 – 1.4170.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/8/8-4-2016-GBP-H1.png

 

The pair has found a resistance at 1.4170, which brought a “Double Top” pattern. So, the market is likely going to get a support at 1.4018 – 1.4004. If so, a rise becomes possible towards a resistance at 1.4108 – 1.4156.

 

More:

https://fxbazooka.com/en/analitycs/show/8543

[riki143]

Forex Analytics

 

EUR/USD: "Engulfing" brought correction to naught

8 April 2016

Galina Svetlova

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/8/0804eurusdH4.png

 

The current flat is going on, which has a support by the 21 Moving Average. There's a “Harami” at the local low, so the market is likely going to reach the nearest resistance line. As we can see on the Daily chart, a reversal “High Wave” and a “Hanging Man” haven’t confirmed yet, so today’s candle is probably going to be a white one.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/8/0804eurusdH1.png

 

There’re an “Engulfing Bearish” and a “Belt Hold” on the nearest resistance line. Therefore, an “Engulfing Bullish” was formed on the 89 Moving Average. Under this circumstances, the current flat is likely going to be continued.

 

More:

https://fxbazooka.com/en/analitycs/show/8544

[riki143]

Forex Analytics

 

AUD/NZD reversed from pivotal support level 1.1080

8 April 2016

By: Dmitriy Chernovolov

 

-AUD/NZD reversed from pivotal support level 1.1080

-Next buy target - 1.1200

 

AUD/NZD recently reversed up from the support zone lying at the intersection of the pivotal support level 1.1080 (former strong resistance level, which stopped the previous minor impulse wave 1 in November, as can be seen below), 38.2% Fibonacci correction of the previous upward impulse from the end of February and the lower daily Bollinger Band. The upward reversal from this support zone completed the previous minor correction (iv).

 

AUD/NZD is likely to rise further in the active impulse wave (v) toward the next buy target at the next resistance level 1.1200. Buy stop-loss can be placed below the aforementioned support level 1.1080.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-08%20AUDNZD%20-%20Primary%20Analysis.png

 

More:

https://fxbazooka.com/en/analitycs/show/8545

[riki143]

Forex Analytics

 

NZD/JPY reversed from long-term support level 73.20

8 April 2016

By: Dmitriy Chernovolov

 

-NZD/JPY reversed from long-term support level 73.20

-Next buy target – 74.60

 

NZD/JPY recently reversed up sharply from the long-term support level 73.20, which is the lower boundary of the strong support zone which has been repeatedly reversing this currency pair from the end of last October (as can be seen from the daily NZD/JPY chart below). The upward reversal from the support level 73.20 stopped the active intermediate impulse wave (3) from the end of March.

 

With the daily Stochastic still moving in the oversold area - NZD/JPY is likely to rise further from the current levels toward the next buy target at the resistance level 74.60 (top of the aforementioned support zone).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-08%20NZDJPY%20-%20Primary%20Analysis.png

 

More:

https://fxbazooka.com/en/analitycs/show/8546

[riki143]

Forex Analytics

 

EUR/USD: flat above the broken "Triangle"

11 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/11/11-4-2016-EUR-H4.png

 

We’ve got an upward trend on the four-hour chart. Currently, there's a flat in progress above the breaking point of the last “Triangle’ pattern. Therefore, the market is likely going to get a resistance at 1.1437 – 1.1459. If so, a bearish correction will have a chance to reach a support area at 1.1341 – 1.1326 afterwards.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/11/11-4-2016-EUR-H1.png

 

There’s a bullish movement along the current uptrend line. It’s likely to see the pair higher in the short term. Considering a possible pullback from the nearest resistance at 1.1437 – 1.1459, a downward correction will probably begin, so we should keep track of a support area between the 55 Moving Average and the level 1.1376.

 

More:

https://fxbazooka.com/en/analitycs/show/8555

[riki143]

Forex Analytics

 

GBP/USD: bulls has broken the downtrend line

11 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/11/11-4-2016-GBP-H4.png

 

The price has been moving in a range since the downward trend line was broken. We've got a “V-Bottom” pattern above a support at 1.3995, which led to the current flat. The pair is likely going to get a resistance at 1.4170 – 1.4194. If a pullback from this area arrives, then bears will have an opportunity to return to the market. So, we should cast wary eye at a support at 1.4052 – 1.3995.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/11/11-4-2016-GBP-H1.png

 

There's a flat in progress, which led to break the local downtrend line. The 55 Moving Average acts as a resistance, so the market is likely going to rise towards a resistance at 1.4170 – 1.4190. If we see a pullback from this area, then bears will have a chance to achieve a support at 1.4081 – 1.4056.

 

More:

https://fxbazooka.com/en/analitycs/show/8556

[riki143]

Forex Analytics

 

CHF/JPY: broke support level 114.00

11 April 2016

By: Dmitriy Chernovolov

 

-CHF/JPY broke support level 114.00

-Next sell target - 112.30

 

CHF/JPY continues to fall inside the accelerated impulse wave 5, which belongs to the sharp extended downward impulse wave (3) from the middle of October. The price earlier broke the support level 114.00 (which was set previously as the sell target for this currency pair) – which accelerated the active impulse waves 5 and (3) – which are both a part of the primary downward primary impulse wave ① from last year.

 

CHF/JPY is likely to fall further toward the next sell target at the strong support level 112.30 (which stopped the previous impulse waves 3 and (b)). The price is likely to reverse up from the support level 112.30 toward the recently broken price level 114.00.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-11%20CHFJPY%20-%20Primary%20Analysis.png

 

More:

https://fxbazooka.com/en/analitycs/show/8567

[riki143]

Forex Analytics

 

EUR/USD: the flat is rich of candle patterns

11 April 2016

Galina Svetlova

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/11/1104eurusdH4.png

 

The market has been moving up and down in the current flat's range. The price achieved the nearest resistance once again and started declining afterwards. We’ve got an “Engulfing Bullish” on the 21 Moving Average, so the market is likely going to reach this line again, but then bulls will have a chance to return. As we can see on the Daily chart, there're a “High Wave” and a “Hanging Man” at the last high, but they haven’t confirmed yet. So, today’s candle is probably going to be a bullish one.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/11/1104eurusdH1.png

 

There’s a flat in progress with a support by the 89 Moving Average. Therefore, we've got a “Shooting Star” at the last high, but also here’s a “Harami” on the Moving Average. So, the market is likely going to get a support on the 144 Moving Average. Considering a possible pullback from this line, the current uptrend is about to continue.

 

More:

https://fxbazooka.com/en/analitycs/show/8568

[riki143]

Forex Analytics

 

EUR/CAD: reversed from resistance zone

11 April 2016

By: Dmitriy Chernovolov

 

-EUR/CAD reversed from resistance zone

-Next sell target –1.4660

 

EUR/CAD continues to decline inside the second intermediate correction (2) – which started previously - when the price reversed down from the resistance zone lying between the round resistance level 1.5000 (which also previously reversed the price sharply in March), 38.2% Fibonacci correction of the previous sharp intermediate ©-wave from February and the upper daily Bollinger Band.

 

EUR/CAD is likely to fall further inside the active intermediate correction (2) toward the next sell target at the support level 1.4660 (which has been reversing the price from the middle of March, as can be seen below). Strong resistance remains at the aforementioned price level 1.5000.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-11%20EURCAD%20-%20Primary%20Analysis.png

 

More:

https://fxbazooka.com/en/analitycs/show/8569

[riki143]

Forex Analytics

 

USD/JPY: "Window" is still holding back bears

11 April 2016

Galina Svetlova

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/11/1104usdjpyH4.png

 

There’re a package of candle patterns on the nearest “Window” level. We’ve got a couple of “Tweezers” and “Hummers”, but all of them haven’t a confirmation yet. However, if a confirmation arrives afterwards, then it’ll be a chance to see the market on the 21 Moving Average. As we can see on the Daily chart, there's an “Inverted Hammer”, but it requires a confirmation as well. Anyway, today’s candle is likely going to be a bullish one.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/11/1104usdjpyH1.png

 

We’ve got a bearish trend on the one-hour chart. At the same time, there’re a lot of bullish patterns such as a “Tweezers”, a “Hammer”, a “Tower”, an “Engulfing” and a “Harami”, but they haven’t been confirmed yet. So, the 21 Moving Average is likely going to be reached once again.

 

MAKE MONEY ON IT

 

 

https://fxbazooka.com/en/analitycs/show/8571

[vic84]

AUDUSD has been through a bearish trend but still it seems like the pair is good for making short trades.

[jsnbarnard]

Great technical analysis riki143 like what i see and enjoy reading your posts,, keep it up

[riki143]

Forex Analytics

 

Forex trading plan for April 12

 

By Elizabeth Belugina

 

US dollar index fell to 94.00. Later on Monday the Federal Reserve will hold a closed meeting on interest rates. The last time the Fed conducted such meeting was in November 2015, ahead of the rate hike. However, given the dovish position of the Fed’s head Janet Yellen, traders don’t expect the same to happen this time. However, the Fed will release an announcement sometime after 18:00 GMT, and we should learn more about the regulator’s position from it.

 

Oil prices represent another important market mover. A very important meeting between OPEC and non-OPEC oil producers will take place on April 17.

 

Global stocks rose on Monday, but the positive movement may be brief as the earnings season starts in the US, and the figures will likely be bad.

 

EUR/USD keeps trading sideways with a small upward bias. Support is at 1.1380, 1.1330 and 1.1300. Resistance is at 1.1455 and 1.1500. No news from the euro area, message from the Fed is in focus.

 

GBP/USD jumped to 1.4250 on Monday retracing more than 50% of the decline from 1.4460 to 1.4000. The UK will release inflation data at 08:30 GMT. The market expects an improvement in the UK inflation figures, though traders don’t think that the Bank of England will change policy or sound more hawkish at its meeting on Thursday. As a result, we prefer selling GBP/USD on attempts to get higher. Resistance is at 1.4320, 1.4350 and 1.4400. Support is at 1.4180, 1.4135 and 1.4055.

 

USD/JPY recovered for the second time from the levels below 107.70. Targets for correction up lie at 108.75, 109.10 and 109.50. Break below 107.60 will open the way down to bigger support at 106.60.

 

If AUD/USD closes the day above 0.7600, it will turn to 0.7670. Failure will result in decline to 0.7500.

 

More:

https://fxbazooka.com/en/analitycs/show/8573

[riki143]

Forex Analytics

 

EUR/USD: price take hold above the Triangle

12 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/12/12-4-2016-EUR-H4.png

 

The main trend is a still bullish one. The market has been moving in a flat since the upper side of the last “Triangle” pattern was broken. So, currently the flat is likely going to be continued. At the same time, we should keep an eye on the nearest resistance area 1.1437 – 1.1459, which acts as a main target for bulls. If a pullback from this area happens, then it’ll be a chance to see a bearish correction towards a support at 1.1341 – 1.1326.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/12/12-4-2016-EUR-H1.png

 

The price has found a resistance at 1.1453 and formed a “V-Top” afterwards, which led to the current decline. So, the pair is likely going to get a support somewhere between the 34 Moving Average and the level 1.1376. If bears be stopped here, then bulls will probably try to reach a resistance at 1.1437 – 1.1447.

 

More:

https://fxbazooka.com/en/analitycs/show/8579

[riki143]

Forex Analytics

 

GBP/USD: bulls took a cue from the Double Bottom

12 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/12/12-4-2016-GBP-H4.png

 

The price formed a “Double Bottom” pattern, which has been confirmed. Finally, a resistance at 1.4283 was achieved, which led to the current decline. So, the market is likely going to get a support at 1.4170 in the short term. If so, a rise towards a resistance 1.4305 – 1.4342 becomes possible afterwards.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/12/12-4-2016-GBP-H1.png

 

We've got a “V-Top”, which made possible the current downward correction. The market is likely going to reach a support at 1.4190 – 1.4170. If we see a pullback from here, bulls will have an opportunity to achieve a resistance area at 1.4285 – 1.4320.

 

https://fxbazooka.com/en/analitycs/show/8580