Market analysis and trade recommendations by FBS

[riki143]

Forex Analytics

 

GBP/USD: flat in the range of a "Pennant" pattern

11 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/11/11-5-2016-GBP-H4.png

 

There's a flat in progress between a resistance by the 55 Moving Average and a support at 1.4374. Considering a “Wedge” and a “V-Top”, the market is likely going to falling down towards the upper side of the nearest support zone at 1.4343 – 1.4305. If a pullback from this area happens, there’ll be an opportunity to see an upward correction.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/11/11-5-2016-GBP-H1.png

 

We’ve got a possible “Pennant” pattern, so the pair is likely going to test its upper side. In case of a pullback from there, bears will probably try to deliver a new low afterwards. So, we should put an attention to the nearest trendline as the next probable bearish goal.

 

More:

https://fxbazooka.com/en/analitycs/show/8921

[riki143]

Forex Analytics

 

USD/CAD reversed from resistance zone

11 May 2016

By: Dmitriy Chernovolov

 

-USD/CAD reversed from resistance zone

-Next sell target - 1.2800

 

USD/CAD recently reversed down from the resistance zone lying at the intersection of the pivotal resistance level 1.3000 (former strong support level which stopped the earlier impulse waves (iii) and i, as can be seen from the daily USD/CAD chart below), upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward impulse wave from February. The downward reversal from this resistance zone stopped the active intermediate impulse wave (3).

 

USD/CAD is likely to fall further to the next sell target at the nearby support level 1.2800. Sell stop-loss can be placed above the aforementioned resistance level 1.3000.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/May%202016/USDCAD%20-%20Primary%20Analysis%20-%20May-11%200920%20AM%20(1%20day).png

 

More:

https://fxbazooka.com/en/analitycs/show/8922

[riki143]

Forex Analytics

 

CHF/JPY reversed from resistance zone

11 May 2016

By: Dmitriy Chernovolov

 

-CHF/JPY reversed from resistance zone

-Next sell target - 110.00

 

CHF/JPY recently reversed down from the resistance zone lying between the resistance level 112.30 (former strong support level which reversed earlier waves 3, (b) and (i), as can be seen from the daily CHF/JPY chart below) and the 50% Fibonacci correction of the previous sharp minor impulse wave (iii) from the end of April. The downward reversal from this resistance zone stopped the previous (iv)-wave of the active minor impulse wave 5.

 

CHF/JPY is likely to fall further to the next sell target at the support level 110.00 (low of the previous minor impulse wave (iii)). Sell stop-loss can be placed above the aforementioned resistance level 112.30.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/May%202016/CHFJPY%20-%20Primary%20Analysis%20-%20May-11%200926%20AM%20(1%20day).png

 

More:

https://fxbazooka.com/en/analitycs/show/8923

[riki143]

Forex Analytics

 

EUR/USD: "High Waves" formed one after another

11 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/11/1105eurusdh4.png

 

The price is moving in a flat between the Moving Averages. There're a “Hammer”, an “Engulfing” and an “Inverted Hammer”, but their confirmation isn’t enough. Therefore, the pair is likely going to test the nearest support and start rising afterwards. As we can see on the Daily chart, there’re a “Doji” and a couple of “Hammers”, so today’s candle is likely going to be white.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/11/1105eurusdh1.png

 

The last “Window” and the 34 Moving Average are acting as a resistance. The market is likely going to test the local low once again. If we see a pullback from there, bulls will probably try to break the Moving Averages.

 

More:

https://fxbazooka.com/en/analitycs/show/8926

[riki143]

Forex Analytics

 

USD/JPY: bears are banging on the "Window"

11 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/11/1105usdjpyH4.png

 

There's a pullback from the 89 Moving Average, which led to the current decline. The price has reached the nearest “Window”, but we haven’t got any bullish patterns so far. Therefore, the market is likely going to get a support on the 21 Moving Average. If we see a pullback from this line, there'll be an opportunity to have a new high in the short term. As we can see on the Daily chart, there's a possible “Harami”, so the current correction is likely going to be continued.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/11/1105usdjpyH1.png

 

The pair has came back to the “Window” again. Previously, a “Harami” has been formed at the last high. The 34 Moving Average can act as a support, so a local correction becomes possible during the day. If we see a pullback from the middle of the last huge black candle, bears will have a chance to deliver a new low.

 

More:

https://fxbazooka.com/en/analitycs/show/8928

[riki143]

Forex Analytics

 

EUR/USD: the trendline is too tough for bears

12 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/12/12-5-2016-EUR-H4.png

 

The price faced a support at the bullish trendline, which led to form a “V-Top” pattern. The market is likely going to test the trendline and the Moving Averages ones again. If we see a pullback from these levels, there'll be an open door for an upward movement.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/12/12-5-2016-EUR-H1.png

 

There's a local “Triple Bottom” pattern, which brought bulls into the market. The price found an intraday resistance at 1.1437, so we’ve got a correction in progress. Anyway, the pair is likely going to reach a resistance at 1.1453 – 1.1464 afterwards, but only if we see a pullback from the nearest trendline.

 

More:

https://fxbazooka.com/en/analitycs/show/8936

[riki143]

Forex Analytics

 

GBP/USD: flat locked in the range of a "Wedge"

12 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/12/12-5-2016-GBP-H4.png

 

The pair has been moving in a flat between the Moving Average lines. There's a possible “Wedge” pattern, so finally the market is likely going to break its lower side. Therefore, we should keep an eye on the nearest support at 1.4343 as the next bearish target.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/12/12-5-2016-GBP-H1.png

 

As we can see on the one-hour chart, there’s also a “Wedge”. The group of Moving Averages are acting as a resistance, so it’s likely that the price is going to continue falling down towards the nearest trendline.

 

More:

https://fxbazooka.com/en/analitycs/show/8937

[riki143]

Forex Analytics

 

EUR/USD: bears are balancing on the "Window"

12 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/12/1205eurusdh4.png

 

There’re a “Hammer”, an “Engulfing” and an “Inverted Hammer”, which all have been confirmed enough. Also, we’ve got a “Harami” at the local high, so the pair is likely going to test the nearest support. If we see a pullback from this level, bulls will probably try to come back to the market. As we can see on the Daily chart, here’s an “Inverted Hammer”, which has been confirmed by the last “Belt Hold” pattern. So, it’s likely to see a local correction during the day and an upward movement afterwards.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/12/1205eurusdh1.png

 

We’ve got a “High Wave” above the nearest “Window”, but its confirmation is in progress. Therefore, the price is likely going to reach a resistance by the previously formed “Three Methods” pattern in the short term.

 

More:

https://fxbazooka.com/en/analitycs/show/8938

[riki143]

Forex Analytics

 

EUR/JPY reversed from support zone

12 May 2016

By: Dmitriy Chernovolov

 

-EUR/JPY reversed from support zone

-Next buytarget - 126.00

 

EUR/JPY continues to rise inside the minor corrective wave 2, which started previously – when the pair reversed up from the support zone lying between the pivotal support level 122.00 (previous sell target set in our earlier forecast for this currency pair) and the lower daily Bollinger Band. The aforementioned support level 122.00 previously stopped the three progressively smaller-degree impulse waves - ①, (1) and 1, as can be seen from the daily EUR/JPY chart below.

 

EUR/JPY is likely to rise further in the active minor correction 2 toward the next buy target at the resistance level 126.00 (which reversed the earlier intermediate ABC correction (2)).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/May%202016/EURJPY%20-%20Primary%20Analysis%20-%20May-12%201249%20PM%20(1%20day).png

 

More:

https://fxbazooka.com/en/analitycs/show/8939

[riki143]

Forex Analytics

 

EUR/USD: bears are going to spurt in attack

13 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/13/13-5-2016-EUR-H4.png

 

The price faced a resistance at 1.1453, which brought a “V-Top” pattern at the local high. The local uptrend line has been broken afterwards, so the market is likely going to reach a support at 1.1327 in the short term. At the same time, there’s an opportunity to see an upward correction during the day.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/13/13-5-2016-EUR-H1.png

 

As we can see on the one-hour chart, the pair has achieved a local support at 1.1369. Therefore, it's likely that the price is going to test the local downtrend line once again soon. If we see a pullback from this line, bears will probably try to deliver a new low subsequently.

 

More:

https://fxbazooka.com/en/analitycs/show/8950

[riki143]

Forex Analytics

 

GBP/USD: the flat takes the form of a "Triangle"

13 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/13/13-5-2016-GBP-H4.png

 

The price has been moving in a flat since a “Triple Bottom” was formed at the last low. There’s a possible “Triangle” in progress, so the market is likely going to break its lower side in the short term. Therefore, we should keep an eye on a support at 1.4343 – 1.4305 as the next possible bearish target.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/13/13-5-2016-GBP-H1.png

 

We’ve got a flat in progress on the one-hour chart. The market is likely going to test the nearest resistance at 1.4460 – 1.4487 during the day. If we see a pullback from this area, a downward movement becomes possible, so the “Triangle’s” lower side will probably be broken soon.

 

More:

https://fxbazooka.com/en/analitycs/show/8951

[riki143]

Forex Analytics

 

EUR/USD reached sell target 1.1400

13 May 2016

By: Dmitriy Chernovolov

 

-EUR/USD reached sell target 1.1400

-Next sell target - 1.1300

 

EUR/USD has been falling in the last few trading sessions inside the intermediate impulse wave (3) – which started earlier – when the pair reversed down with the daily Falling Star from the pivotal resistance level 1.1600. This Falling Star formed well outside of the upper daily Bollinger Band – which multiplied the strength of this bearish signal. The price earlier broke through the support level 1.1400 (previous sell target set for this currency pair).

 

EUR/USD is expected to fall further toward the next sell target at the support level 1.1300, standing close to the 38.2% Fibonacci correction level of the previous sharp upward impulse from the start of March.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/May%202016/EURUSD%20-%20Primary%20Analysis%20-%20May-13%201241%20PM%20(1%20day).png

 

More:

https://fxbazooka.com/en/analitycs/show/8952

[riki143]

Forex Analytics

 

AUD/USD reached sell target 0.7330

13 May 2016

By: Dmitriy Chernovolov

 

-AUD/USD reached sell target 0.7330

-Next sell target - 0.7200

 

AUD/USD has been falling in the last few trading sessions inside the ©-wave of the minor ABC correction 2 from the end of April. The price earlier broke the daily up channel from January, support level 0.7500 and the support zone lying at the intersection of the support level 0.7330 (previous sell target set for this currency pair) and the 50% Fibonacci correction of the previous sharp minor impulse wave 1 from January.

 

AUD/USD is likely to fall further in the accelerated ©-wave toward the next sell target at the support level 0.7200 (coinciding with the 61.8% Fibonacci correction of the aforementioned impulse wave 1).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/May%202016/AUDUSD%20-%20Primary%20Analysis%20-%20May-13%201244%20PM%20(1%20day).png

 

More:

https://fxbazooka.com/en/analitycs/show/8953

[riki143]

Forex Analytics

 

EUR/USD: "Hammer" frightened bears away

13 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/13/1305eurusdh4.png

 

The price has tested the nearest resistance twice, so the pair achieved the 89 Moving Average afterwards. It's likely that the market is going to reach the 144 Moving Average, which could bring any bullish pattern. As we can see on the Daily chart, there's a bearish “Harami”, so today’s candle is likely going to be black.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/13/1305eurusdh1.png

 

The price found a lodgement under the last “Window”. Also, we’ve got a “Hammer” at the local low, which points to a possible upwards correction. At the same time, bears still have enough power to continue their rally afterwards.

 

More:

https://fxbazooka.com/en/analitycs/show/8954

[riki143]

Forex Analytics

 

EUR/USD: "V-Bottom" points to a correction

16 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/16/16-5-2016-EUR-H4.png

 

There’s a “V-Top” pattern, which led to the current decline. The price faced a support at 1.1271, so we’ve got a local correction in progress. The market is likely going to reach a resistance at 1.1366 . If a pullback from this line happens, there’ll be a chance for bears to deliver a new low.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/16/16-5-2016-EUR-H1.png

 

As we can see on the one-hour chart, the last flat was finally ended by the bearish rally. Considering a pullback from a support at 1.1271, bulls are likely going to achieve a resistance at 1.1339 – 1.1357. However, bears will probably try to move on afterwards.

 

More:

https://fxbazooka.com/en/analitycs/show/8968

[riki143]

Forex Analytics

 

GBP/USD: bears escaped from the "Triangle"

16 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/16/16-5-2016-GBP-H4.png

 

The last flat along the Moving Averages was finally ended up. The price got a support at 1.4343 afterwards, so there's time for a local correction. If the pair faces a resistance at 1.4425, bears are likely going to taste a support at 1.4298 – 1.4227.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/16/16-5-2016-GBP-H1.png

 

The previously formed “Triangle” was finally broken, which brought bears into the market. There’s an opportunity to see a local correction because of a pullback from the nearest support. Nevertheless, the price is likely going to decline afterwards, so we should keep an eye on the next support at 1.4298 as a possible sellers goal.

 

More:

https://fxbazooka.com/en/analitycs/show/8969

[riki143]

Forex Analytics

 

EUR/USD: "Harami" led to a local correction

16 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/16/1605eurusdh4.png

 

There's a “Harami” on the 144 Moving Agerage, so an upward correction becomes possible. If the price gets a support on the 89 Moving Agerage, there’ll be an opportunity to see a decline towards the nearest “Window”. As we can see on the Daily chart, the pair reached the 21 Moving Agerage, but we haven’t got any reversal patterns so far. Under this circumstances, today’s candle is likely going to be black.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/16/1605eurusdh1.png

 

We’ve got a “Hammer” and a “Doji” near the last “Window”, which both have been confirmed enough. So, the price is likely going to test the “Window” once again. If a pullback appears afterwards, bulls will likely try to move on.

 

More:

https://fxbazooka.com/en/analitycs/show/8970

[riki143]

Forex Analytics

 

CAD/CHF reversed from support zone

16 May 2016

By: Dmitriy Chernovolov

 

-CAD/CHF reversed from support zone

-Next buy target - 0.7590

 

CAD/CHF has been rising in the last few trading sessions – following the earlier upward reversal from the support zone lying at the intersection of the pivotal support level 0.7440 (former resistance level from March, which also earlier reversed the pair in April) and the 61.8% Fibonacci correction of the previous sharp intermediate ©-wave from last month. The upward reversal from the aforementioned support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing.

 

CAD/CHF is expected to rise further to test the resistance level 0.7590 (which reversed last week the earlier intermediate ABC correction (2)).

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/May%202016/CADCHF%20-%20Primary%20Analysis%20-%20May-16%201152%20AM%20(1%20day).png

 

More:

https://fxbazooka.com/en/analitycs/show/8971

[riki143]

Forex Analytics

 

GBP/NZD reversed from resistance zone

16 May 2016

By: Dmitriy Chernovolov

 

-GBP/NZD reversed from resistance zone

-Next sell target - 2.1400

 

GBP/NZD continues to decline – following the earlier downward reversal from the resistance zone lying between the strong resistance level 2.1400 (which stopped the previous waves (iv) and (a)), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse wave from the start of January, as can be seen from the daily GBP/NZD chart below. The downward reversal from this resistance zone stopped the ©-wave of the active minor ABC correction (ii) from April.

 

Given the strength of the resistance level 2.1400 - GBP/NZD is likely to fall further to the next sell target at the support level 2.1000. Sell stop-loss can be placed above the resistance level 2.1400.

 

http://fxbazooka.com/upload/freelance/tiny/DIMA%20CHE/May%202016/GBPNZD%20-%20Primary%20Analysis%20-%20May-16%201154%20AM%20(1%20day).png

 

More:

https://fxbazooka.com/en/analitycs/show/8972

[riki143]

Forex Analytics

 

USD/JPY: the insuperable "Window"

16 May 2016

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/16/1605usdjpyH4.png

 

The last “Window” is acting as a strong support as well as the 89 Moving Agerage line. The market is likely going to reach the nearest resistance in the short term. As we can see on the Daily chart, the last “Harami” hasn’t been confirmed yet. So, today’s candle is likely going to be bullish.

 

http://fxbazooka.com/upload/freelance/tiny/technical/may2016/16/1605usdjpyH1.png

 

We’ve got three pullbacks on a row from the upper resistance line. The last one brought a “Shooting Star” pattern, so there was a decline afterwards. Therefore, the market is likely going to has a support on the “Window” once again.

 

More:

https://fxbazooka.com/en/analitycs/show/8973

[riki143]

EUR/USD: euro is on the support

 

During yesterday’s trading session, the EUR/USD pair consolidated along the four-hour-Tenkan-sen. Due to the market’s settling after strong sales late last week, the short-term traders took their profit. However, the bears’ attitude is obviously getting more long-term as evidenced by the downward dynamic this morning. The main Forex currency pair has decreased its two-week lowest record to 1.1275.

 

The Ichimoku indicator points at the bearish tendency as well. Tenkan-Sen and Kijun-sen add to the dead cross effect while the Ichimoku cloud extends down. Next strong support testing today is likely to be near 1.1240 / 60; it may get back to Tenkan-sen afterwards.

 

Technical levels: support – 1.1240 / 60; resistance – 1.1300.

 

Trading recommendations: off-market.

 

 

More:

https://new.fxbazooka.com/analytics/8993

[riki143]

GBP/USD: Pound requires attention

 

GBP/USD currency pair, after breaking through and reaching a favorable level on 4-hour timeframe, isn’t managing to succeed in further going for the recovery. The major technical factor, having influence on the market, is a rather strong resistance encountered in the range of 1.4530. Yesterday, the bulls tried to move towards the level once again, however no success has followed. In this regard, the rate has rolled back to Ichimoku cloud and Tenkan, Kijun lines, keeping the prices at 1.4430.

 

It’s obvious, the current level is presently critical. If bulls manage to restrain it, we might expect the rise upwards 1.4610-1.4650. However, the most expectedly, the movement is to tend to go in favor for the bears – hitting 1.4430 and aiming at reaching 1.4260 in a mid-term.

 

Technical levels: support – 1.4365, 1.4430; resistance – 1.4530.

 

Recommendations on trade:

 

1. Buy — 1.4460; SL — 1.4440; TP1 — 1.4530; TP2 — 1.4610.

 

2. Sell — 1.4420; SL — 1.4440; TP1 — 1.4360; TP2 — 1.4320.

 

 

More:

https://new.fxbazooka.com/analytics/8994

[riki143]

EUR/USD: "Double Top" brings back bears to life

 

 

The price has faced a support, which led to the local flat under the 89 Moving Average. Therefore, the market is likely going to reach the next support at 1.1217 in the short term. However, if a pullback from this level happens, an upward correction becomes possible.

 

 

There’s a “Double Top” pattern at the last highs, which has been confirmed. The price is trying to break the last minimum. So, the market is likely going to achieve a support area between the levels 1.1255 – 1.1245. If bears be stopped here, bulls will probably deliver a local correction.

 

More:

https://new.fxbazooka.com/analytics/8995

[riki143]

GBP/USD: "V-Top" sends bulls back home

5/18/2016

 

 

The pair has found a resistance at 1.4515, which brought a “V-Top” pattern, so the price reached a support at 1.4425 afterwards. Therefore, the market is likely going to falling down towards a support area at 1.4343 – 1.4305. Then an upward correction becomes possible, but only if a pullback from the area happens.

 

 

As we can see on the one-hour chart, the price faced an intraday support at 1.4436, which led to the current local flat. Anyway, bears are likely going to move on, so we should keep an eye on a support at 1.4374 as the next sellers’ target.

 

More:

https://new.fxbazooka.com/analytics/8996

[riki143]

EUR/USD: "Window" has been waiting for bears

5/18/2016

 

 

There’s a “Harami” on the 89 Moving Average, which led to the current decline. The main bearish target is the nearest “Window”, which is almost reached. It’s likely possible to see bullish patterns on this “Window”. If so, the market is likely going to get a resistance on the 144 Moving Average. As we can see on the Daily chart, there’s a “Three Methods” pattern, so bears will likely try to deliver a new low, but an upward correction becomes possible afterwards.

 

 

We’ve got a “Harami” on the 55 Moving Average, which has been confirmed enough. At the same time, there’s an “Inverted Hammer” at the local low, which points to a possible upward correction.

 

More:

https://new.fxbazooka.com/analytics/9000