Market analysis and trade recommendations by FBS

[riki143]

Forex Analytics

 

EUR/USD: "Shooting Star" has stopped bulls

18 April 2016

Galina Svetlova

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/18/1804eurusdH4.png

 

We’ve got a confirmation of the previously formed “Hammer” pattern. Moreover, there’s a possible “Three Methods” in progress, so the market is likely going to reach the 34 Moving Average. If price gets a resistance on this line, it'll be a chance for bears to resume their rally. As we can see on the Daily chart, here's a “Tower” pattern, but we’ve got a “High Wave” at the local low, so today’s candle is probably going to be a white one. If the price forms a pullback from the middle of the huge black candle, a new low will be delivered soon.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/18/1804eurusdH1.png

 

The price has been moving in a flat since a “Hammer” appeared at the last low. Also, we’ve got a “Three Methods” pattern, which points to a possibility that the current correction is likely going to be continued in the direction of the 55 Moving Average.

 

More:

https://fxbazooka.com/en/analitycs/show/8650

[riki143]

Forex Analytics

 

GOLD: trade ideas and technical levels

18 April 2016

By Kira Iukhtenko

 

Gold price remains stuck in the narrow 1229.0 - 1339.0 range on Monday, April 18. According to our main scenario, the yellow metal will likely develop more upside in the coming sessions. Capital flight to uncertainty will likely support gold prices as the oil producers meeting in Doha failed to bring any results.

 

Technically, the price holds above the former bearish trend resistance on the H4 chart. Break above the 1239.50 resistance (local high and 38.2% Fibonacci from the April decline) would open the way to 1244.00 amd 1248.0.

 

However, there is still a risk for more downside to be developped. This scenario could become true in case of a break below the daily low of 1129.9. Next target to go short lies at 1223.

 

http://fxbazooka.com/upload/tiny/Analytics/2016/04-April/18/XAUUSDH4.png

 

More:

https://fxbazooka.com/en/analitycs/show/8651

[riki143]

Forex Analytics

 

USD/JPY: bears let the "Black Crows" run free

18 April 2016

Galina Svetlova

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/18/1804usdjpyH4.png

 

There're a “Doji” and a “Three Black Crows” at the last high. Monday’s opening brought a new “Window”, so the price is likely going to get a resistance on it. If so, it’ll be possible to see a decline towards the last low. As we can see on the Daily chart, a “Hanging Man” candle has been confirmed, so the nearest support is probably going to be tested once again.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/18/1804usdjpyH1.png

 

We’ve got a “Three Methods”, which was formed on Friday. This pattern did a great job, but a “Hammer” and an “Inverted Hammer” arrived afterwards, so there’s an open door for an achievement of the 21 Moving Average.

 

More:

https://fxbazooka.com/en/analitycs/show/8653

[riki143]

Forex Analytics

 

GBP/JPY reversed from resistance zone

18 April 2016

By: Dmitriy Chernovolov

 

-GBP/JPY reversed from resistance zone

-Next sell target - 148.70

 

GBP/JPY opened this week with the downward gap – which follows the earlier downward reversal from the resistance zone lying between the pivotal resistance level 155.00 (former strong support level, which stopped the previous sharp minor impulse wave 1 in February, as can be seen below) and the 38.2% Fibonacci correction level of the previous sharp minor impulse wave (iii) from the end of March.

 

GBP/JPY is likely to fall further in the active impulse waves 3 and (5) toward the next sell target at the support level 152.50 (low of the previous impulse (iii)) – the breakout of which can lead to further losses toward the next sell target at 148.70 (target price for the completion of the active impulse wave (5)).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-18%20%20GBPJPY%20-%20Primary%20Analysis.png

 

More:

https://fxbazooka.com/en/analitycs/show/8654

[riki143]

Forex Analytics

 

AUD/CAD rising inside minor impulse wave 3

18 April 2016

By: Dmitriy Chernovolov

 

-AUD/CAD rising inside minor impulse wave 3

-Next buy target – 1.0000

 

AUD/CAD recently reversed up sharply from the support zone lying at the intersection of support level 0.9800, lower daily Bollinger Band, 61.8% Fibonacci correction of the previous sharp upward impulse 1 from the end of February and the former resistance trendline of the recently broken daily down channel from December – acting as support now after it was broken. The upward reversal from this support zone completed the previous minor ABC correction 2 from March.

 

AUD/CAD is likely to rise further in the active minor impulse wave 3 toward the next buy target at the parity (which has been reversing the price from the start of March, as can be seen below). Strong support remains at 0.9800.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-18%20%20AUDCAD%20-%20Primary%20Analysis.png

 

More:

https://fxbazooka.com/en/analitycs/show/8655

[riki143]

Forex Analytics

 

Forex trading plan for April 19

 

By Elizabeth Belugina

 

Risk sentiment initially suffered on Monday because of decline in oil prices and an earthquake in Ecuador. However, oil was rather quick to recover the initial losses after the world’s leading oil producers failed on Sunday to reach an agreement on production freeze in Doha. WTI oil closed the bearish gap and returned above $40. Brent tested $42.50 area on the upside. All in all, the market seems rather calm for now, but it fells like it still hasn't chosen longer-term direction. The US will release housing market data at 12:30 GMT.

 

Resistance for EUR/USD lies at 1.1330/45 – this is the important swing area. Next resistance will be at 1.1375. Don’t miss the release of German and the euro area’s ZEW economic sentiment index at 09:00 GMT. The forecasts are rather good. Support is at 1.1300 and 1.1260.

 

GBP/USD is volatile in 1.4130/1.4255 area. There’s trend line resistance in the 1.4300 area ahead of 1.4370 and 1.4460. Support is at 1.4165, 1.4130 and 1.4085.

 

USD/JPY closed the bearish gap and returned from below 108.00 to 108.80. Resistance is at 109.05 and then at 109.75/110.00 and 110.70. Only above 110.70 the bearish pressure will ease. Support is at 108.45 and 107.65. The decline below 107.60 will open the way for the bigger fall towards 106.50.

 

AUD/USD closed the gap and returned above 0.7700. Watch the release of the Reserve Bank of Australia’s meeting minutes at 01:30 GMT. The RBA Governor Glenn Stevens will speak at 13:30 GMT. Resistance is at 0.7760/80. Support is at 0.7630.

 

More:

https://fxbazooka.com/en/analitycs/show/8657

[riki143]

Forex Analytics

 

EUR/USD: bullish correction in a range of "Pennant"

19 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/19/19-4-2016-EUR-H4.png

 

The price faced a support on the 89 Moving Average, which led to the current upward movement. There's a possible “Pennant” in progress, so the market is likely going to reach the upper side of this pattern. If a pullback appears, bears will have a chance to achieve a support at 1.1273 – 1.1242.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/19/19-4-2016-EUR-H1.png

 

As we can see on the one-hour chart, the price has been rising in a range of the “Pennant” pattern, which includes three “Flags” inside. It’s likely that the pair is going to get a resistance at 1.1344 – 1.1371. If so, there’ll be an opportunity to see the market on a support at 1.1309 – 1.1284.

 

More:

https://fxbazooka.com/en/analitycs/show/8662

[riki143]

Forex Analytics

 

GBP/USD: bulls run smack into the bearish "Thorn"

19 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/19/19-4-2016-GBP-H4.png

 

The price has formed two “Thorns” in a row, which led to the current rise. Moreover, the downtrend line has been broken, so bulls are probably going to taste a resistance at 1.4426. Considering a possible pullback from this level, it’s likely to see the price on a support at 1.4282 – 1.4234 afterwards.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/19/19-4-2016-GBP-H1.png

 

There’s a flat in a range of the current resistance zone. We’ve got a small “Flag”, so it’s likely to see the market higher. If the price gets a resistance at 1.4369 – 1.4405, a downward correction will be possible, so we should keep an eye on a support at 1.4240.

 

More:

https://fxbazooka.com/en/analitycs/show/8663

[riki143]

Forex Analytics

 

NZD/USD reached buy target 0.7000

19 April 2016

By: Dmitriy Chernovolov

 

-NZD/USD reached buy target 0.7000

-Next buy target - 0.7050

 

NZD/USD continues to rise after the earlier breakout of the resistance level 0.7000, which was set in our previous forecast as the buy target for this currency pair. The breakout of this resistance level is likely to accelerate the active minor impulse wave 3, which reversed up recently from the support zone lying between the support level 0.6860 (former strong resistance which has been reversing the price from October) and the 38.2% Fibonacci correction of the previous upward impulse from March.

 

NZD/USD is likely to rise further in the active impulse wave 3 (of the intermediate impulse © of the primary wave Ⓒ) toward the next buy target at the resistance level 0.7050 (forecast price for the completion of wave 3).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-19%20%20NZDUSD%20-%20Primary%20Analysis.png

 

More:

https://fxbazooka.com/en/analitycs/show/8664

[riki143]

Forex Analytics

 

NZD/JPY reached buy target 76.200

19 April 2016

By: Dmitriy Chernovolov

 

-NZD/JPY reached buy target 76.200

-Next buy target – 78.00

 

NZD/JPY continues to rise inside the minor ABC correction 2 – which earlier broke through the resistance level 76.200, which was set as the buy target in our previous forecast for this currency pair. The breakout of the resistance level 76.20 is likely to accelerate the active ©-wave – which started earlier, when the price reversed up from the support level 74.60, which is the upper boundary of the strong support zone which has been reversing the pair from January.

 

NZD/JPY is likely to rise further toward the next buy target at the resistance level 78.00, which reversed earlier waves A and (2), as can be seen below.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/Apr-19%20NZDJPY%20-%20Primary%20Analysis.png

 

More:

https://fxbazooka.com/en/analitycs/show/8665

[riki143]

Forex Analytics

 

EUR/USD: "harami" is the only one hope for bears

19 April 2016

Galina Svetlova

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/19/1904eurusdH4.png

 

The 89 Moving Average and the lower “Window” have acted as a support, so we’ve got a “Hammer” at the last low. Bulls formed two “Three Methods” patterns on the way, which points to a possibility that the current upward correction is probably going to achieve higher levels. At the same time, a local downward correction is a possible during the day. As we can see on the Daily chart, there’s a correction in a range of the huge black candle. We’ve got a “High Wave” at the last low, which has been confirmed. Therefore, it’s likely that the current rise will go on.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/19/1904eurusdH1.png

 

There's a bullish trend above the last “Window”. The price has found a lodgement above the 89 Moving Average, but we've got a “Harami” at the last high. So, a local downward movement becomes possible. Anyway, it’ll likely be just a correction, so bulls are still in the game.

 

More:

https://fxbazooka.com/en/analitycs/show/8667

[riki143]

Forex Analytics

 

USD/JPY: yesterday's "Window" becomes a support

19 April 2016

Galina Svetlova

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/19/1904usdjpyH4_1.png

 

The previously formed a “Morning Doji Star” and a “Three White Soldiers” have been confirmed, so yesterday’s “Window” was closed by the last white candles. We haven’t got any reversal patterns so far. It means that bulls are likely going to continue their rally, but a door for a possible local correction is a still open. As we can see on the Daily chart, there’s an upward correction in progress, so today’s candle is probably going to be a white one.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/19/1904usdjpyH1.png

 

Yesterday’s “Window” has been closed by the bullish candles, which brought a “Three Methods” afterwards. Therefore, this pattern is likely going to act as a support. If so, the price will have a chance to deliver a new high soon.

 

More:

https://fxbazooka.com/en/analitycs/show/8670

[riki143]

Forex Analytics

 

Forex trading plan for April 20

 

By Kira Iukhtenko

 

Risk-sentiment:

 

Despite the evident failure of the Doha talks, market sentiment remains rather upbeat: we’ve seen the risky currencies strengthen significantly over the recent days.

 

Economic calendar for April 20:

 

8:30 GMT – UK labor market data

 

10:00 GMT – ECB President Mario Draghi speaks

 

14:30 GMT - Crude oil inventories

 

20:15 GMT – Bank of Canada Governor Poloz speaks

 

https://www.youtube.com/watch?v=uMC54QkN1MI

 

More:

https://fxbazooka.com/en/analitycs/show/8671

[riki143]

Forex Analytics

 

Forex trading plan for April 21

 

 

EUR/USD: The market’s attention will be focused on the European Central Bank’s decision (11:45 GMT, no changes in policy are expected) and the press conference of the ECB President Mario Draghi (12:30 GMT). European economic figures were brighter since the last meeting, but the regulator will likely emphasize that monetary policy will remain accommodative. The euro may test levels around 1.1300/1.1270 ahead of the event. Decline below 1.1240 will open the way down to 1.1140. Resistance is at 1.1375, 1.1400 and 1.1460.

 

GBP/USD: British labor market data came out lower than expected. Growth of average hourly earnings slowed from 2.1% to 1.8%. It means lower wage inflation and lower chance that the Bank of England will increase interest rates anytime soon. BoE’s member McCafferty made dovish comments – this is negative for the pound. On Thursday the UK will release retail sales data at 08:30 GMT. The indicator’s decline is expected to slow down, though consensus shows that there still will be a negative reading. The latest Brexit poll showed that more people will vote for Britain to remain in the European Union. GBP/USD has reached resistance line connecting February and March highs. Resistance is at 1.4470/1.4500. Support is at 1.4340 and pound looks vulnerable for correction to 1.4260 and 1.4115.

 

USD/JPY: US dollar made a higher low on and may try to correct up to resistance at 109.75, 110.00 and 110.75. Below support at 108.70 the pair should slide towards 108.00. Watch Philladelphia Fed manufacturing index at 12:30 GMT on Thursday.

 

AUD/USD: The pair is technically overbought and has potential for correction down. Decline below 0.7800 will open the way down to 0.7750 and 0.7700. Lower levels of oil will help the bears. Above 0.7800 the focus will be on 0.7850, though we are cautious about going long at this point without a sizeable correction down first.

 

More:

https://fxbazooka.com/en/analitycs/show/8687

[riki143]

Forex Analytics

 

EUR/USD: bears took a cue from the "Double Top"

21 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/21/21-4-2016-EUR-H4.png

 

We've got a “Double Top”, which has been confirmed, so the price reached a support at 1.1284. The market is likely going to achieve the next support at 1.1259 – 1.1233. If a pullback from this area happens, an upward correction will be possible.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/21/21-4-2016-EUR-H1.png

 

The pair has been falling down since a “Double Top” arrived at the last high. The price faced a support at 1.1284, which stopped bears for a while. At the same time, the market is probably going to decline towards a support at 1.1259 – 1.1244 in the short term.

 

More:

https://fxbazooka.com/en/analitycs/show/8691

[riki143]

Forex Analytics

 

GBP/USD: price reached the "Thorn" once again

21 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/21/21-4-2016-GBP-H4.png

 

The price has formed a “Double Top” under the nearest resistance at 1.4426. Considering a confirmation of this pattern, the market is likely going to get a support at 1.4282. If so, a rise becomes possible towards a resistance area at 1.4305 – 1.4343.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/21/21-4-2016-GBP-H1.png

 

We’ve got a “Triple Top”, which led to the current decline. The 34 Moving Average acted as a support, so bears currently have time to rest. Anyway, the market is likely going to reach a support at 1.4283. In case of a pullback from this level, bulls will have a chance to achieve a resistance at 1.4307 – 1.4343.

 

More:

https://fxbazooka.com/en/analitycs/show/8692

[riki143]

Forex Analytics

 

EUR/AUD reached sell targets 1.4600 and 1.4470

21 April 2016

By: Dmitriy Chernovolov

 

-EUR/AUD reached sell targets 1.4600 and 1.4470

-Next buy target - 1.4400

 

EUR/AUD has been falling in the last few trading sessions - following the earlier breakout of the support levels 1.4600 (which is the 1st of the two sell targets set in our previous forecast for this currency pair). The breakout of the support level 1.4600 accelerated the active minor impulse wave C – which today broke the next support level 1.4470 (2nd sell target set previous for this currency pair).

 

If the pair closes this week below the support level 1.4470 - EUR/AUD can then fall to the next sell target at the round support level 1.4400 (former strong support level from December, and the forecast price calculated for the completion of the active wave C).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/EURAUD%20-%20Primary%20Analysis%20-%20Apr-21%201018%20AM%20(1%20day).png

 

More:

https://fxbazooka.com/en/analitycs/show/8695

[riki143]

Forex Analytics

 

AUD/CHF reached buy target 0.7540

21 April 2016

By: Dmitriy Chernovolov

 

-AUD/CHF reached buy target 0.7540

-Next buy target – 0.7700

 

AUD/CHF recently broke above the strong resistance level 0.7540 (which reversed earlier waves (A) and 1 and which was set as the buy target in our previous forecast for this currency pair). The breakout of this resistance level is likely to accelerate the active minor impulse wave 3 – which recently broke the daily down channel from March and which belongs to the intermediate ©-wave from the middle of February. Strong support now stands at the support level 0.7540.

 

With the accelerating daily Momentum - AUD/CHF can be expected to rise further in the direction of the next buy target at the resistance level 0.7700. Bus stop-loss can be placed below the recently broken price level 0.7540.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/AUDCHF%20-%20Primary%20Analysis%20-%20Apr-21%201022%20AM%20(1%20day).png

 

More:

https://fxbazooka.com/en/analitycs/show/8696

[riki143]

Forex Analytics

 

Nikkei 225 broke pivotal resistance level 17170.00

21 April 2016

By: Dmitriy Chernovolov

 

-Nikkei 225 broke pivotal resistance level 17170.00

-Next buy target – 17800.00

 

Nikkei 225 continues to rise – following the earlier breakout of the pivotal resistance level 17170.00 (which earlier reversed previous waves 3, (A) and B, as can be seen from the daily Nikkei 225 chart below). The breakout of this resistance level is likely to accelerate the active minor impulse wave 3, which belongs to the intermediate ©-wave from the start of Aril.

 

Nikkei 225 is expected to rise further to the next buy target at the resistance level 17800.00 (which stopped the earlier minor correction 4 in January and which is the forecast price for the termination of the active impulse wave 3).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/April%202016/N225%20-%20Primary%20Analysis%20-%20Apr-21%201027%20AM%20(1%20day).png

 

More:

https://fxbazooka.com/en/analitycs/show/8697

[riki143]

Forex Analytics

 

USD/JPY continues consolidation

21 April 2016

Tatiana Norkina, FBS analyst

 

Yesterday USD/JPY managed to consolidate its position inside of the four-hour Ichimoku cloud. Tenkan-sen, Kijun-sen lines and the lower boundary of the Ichimoku cloud simultaneously has played the role of the support. The bulls inspired by it have updated their two-week maxima to 109.90, having rushed to Senkou Span B. Thus, the short-term trend is determined now by a Golden Cross, and we do not exclude the possibility of testing of the cloud upper boundary levels.

 

Technical levels: support – 109.50; resistance – 110.60/65.

 

Trading recommendations:

 

1. Buy — 109.50/60; SL — 109.30; TP1 — 110.60.

 

http://fxbazooka.com/upload/tiny/Analytics/2016/04-April/21/usdjpyh4-TN.png

 

More:

https://fxbazooka.com/en/analitycs/show/8698

[riki143]

Forex Analytics

 

EUR/USD: correction from the "V-Bottom"

25 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/25/25-4-2016-EUR-H4.png

 

The pair was moving down on Friday, so we've got a support at 1.1233 and a «V-Bottom» pattern. It's likely to see a local upward correction. At the same time, bears have enough power to get a support at 1.1195 – 1.1166. If we a pullback from this zone arrives, it'll be a chance to see the price on a resistance at 1.1217 – 1.1233.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/25/25-4-2016-EUR-H1.png

 

We've got a «V-Top» pattern, which led to the current decline. Finally, the pair found a support at 1.1233, so there's an upward correction in progress. The market is likely going to reach a resistance at 1.1269 – 1.1284. If bulls be stopped somewhere in here, it'll be an opportunity for bears to achieve a support at 1.1217 – 1.1168.

 

More:

https://fxbazooka.com/en/analitycs/show/8724

[riki143]

Forex Analytics

 

GBP/USD: "Breakaway Gap" has been formed

25 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/25/25-4-2016-GBP-H4.png

 

The price has been rising since a «V-Bottom» pattern arrived at the local low. The pair faced a resistance at 1.4458, so the market is likely going to reach a support at 1.4347. If a pullback from this level arrives, it'll be a chance for bulls to deliver a new high.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/25/25-4-2016-GBP-H1.png

 

We've got a «Breakaway Gap», which led to form a «V-Top» pattern at the last high. The price found a resistance at 1.4458, so there's an open door for a downward correction. Therefore, we should keep an eye on a support at 1.4368. In case of a possible pullback from this level, a resistance at 1.4495 will be probably achieved soon.

 

More:

https://fxbazooka.com/en/analitycs/show/8726

[riki143]

Forex Analytics

 

Forex trading plan for April 26

 

By Elizabeth Belugina

 

US dollar started the weak under pressure as traders don’t expect any hawkish statement from the Federal Reserve on Wednesday. American new home sales data turned out worse than expected (511K vs. 521K). On Tuesday the US will release durable goods figures at 12:30 GMT: analysts expect improvement after poor figures of the previous month.

 

EUR/USD recovered to 1.1260. German Ifo business climate missed the forecast (106.6 vs. 107.1), though the data don’t change the fundamental picture for EUR/USD. Last week the ECB didn’t ease monetary policy, but underlined that its approach will remain accommodative. The euro’s failure to overcome levels in the 1.1400 area last week mean that the bulls don’t have enough strength to push the pair higher. Resistance at 1.1300 and 1.1350 should limit the upside. Support is at 1.1215 and 1.1150.

 

GBP/USD tested levels above 1.4500 on Monday. British pound broke above resistance line connecting February and March highs and the next targets on the upside may lie at 1.4635/70. Support is at 1.4440 and 1.4400. The pair rose as US President Barack Obama spoke in favor of the UK remaining within the European Union.

 

USD/JPY opened with a gap up at 111.87, but then tested levels below 111.00. Earlier the US dollar gained on the expectations that the Bank of Japan will start lending to banks at negative interest rate. However, traders still seriously doubt that any measures of Japanese central bank would be efficient. Below 110.85/75 the pair will slide to 110.30.

 

AUD/USD recovered a bit after 3 days of declines. Resistance is at 0.7730. A break higher will open the way up to 0.7760 and 0.7800. Support is at 0.7690 and 0.7650.

 

More:

https://fxbazooka.com/en/analitycs/show/8739

[riki143]

Forex Analytics

 

EUR/USD: bulls will use to advantage the "Flag"

26 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/26/26-4-2016-EUR-H4.png

 

The pair has found a support at 1.1233, which led to form a local “V-Bottom” pattern, so the price got a resistance by the 89 Moving Average afterwards. The market is likely going to deliver a new intraday high and then start a movement towards a support at 1.1195 – 1.1166. If bears be stopped somewhere in this area, there'll be bulls' turn to play, so we should keep an eye on one of the important resistances at 1.1217 – 1.1233.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/26/26-4-2016-EUR-H1.png

 

The price has been rising since a “V-Bottom” was formed at the local low. A few hours later, the pair faced a resistance at the 34 Moving Average, which brought a possible “Flag” pattern. Therefore, the market is likely going to achieve the 55 Moving Average. If a pullback from this line happens, it'll be a chance to see a new bearish rally towards the last low.

 

More:

https://fxbazooka.com/en/analitycs/show/8742

[riki143]

Forex Analytics

 

GBP/USD: "Pennant" as a sign to a new high

26 April 2016

Sergey Logachev

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/26/26-4-2016-GBP-H4.png

 

The price has faced a resistance at 1.4513, so currently we've got a local flat under this level. It's likely to see even more bullish pressure that is why we should bearing in mind the next resistance at 1.4569, which is reinforced by the downtrend upper line. If buyers be stopped here, it’ll be an opportunity to have at least a local downward correction.

 

http://fxbazooka.com/upload/freelance/tiny/technical/apr2016/26/26-4-2016-GBP-H1.png

 

There’s a possible “Pennant” in progress under the nearest resistance at 1.4513. Therefore, the market is likely going to deliver a new high soon. The main target is a resistance at 1.4534 – 1.4569, which is strong enough to stop bullish feast of life.

 

More:

https://fxbazooka.com/en/analitycs/show/8743