riki143 Posted October 10, 2016 Share Posted October 10, 2016 AUD/NZD broke resistance level 1.0580 10/10/2016 AUD/NZD broke resistance level 1.0580 Next buy target - 1.0740 AUD/NZD has been rising steadily in the last few trading sessions inside the ©-wave of the minor ABC correction 2 from the middle of September. The price earlier broke sharply through the resistance level 1.0580 (which stopped the (a)-wave of the active ABC correction 2) – which intensified the bullish pressure on this currency pair. AUD/NZD is expected to rise further toward the next buy target standing at the strong resistance level 1.0740 (which reversed the previous corrective waves 2 and (ii) and which stands close to the 50% Fibonacci correction of the previous extended downward impulse from April). More: https://new.fxbazooka.com/analytics/10817 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 10, 2016 Share Posted October 10, 2016 NZD/USD falling inside minor impulse wave © 10/10/2016 NZD/USD falling inside minor impulse wave © Next sell target 0.7080 NZD/USD continues to fall inside the minor impulse wave ©, which recently broke through the strong support zone lying at the intersection of the multiple support levels: the support trendline of the daily up channel from May, pivotal support level 0.7250, 50% Fibonacci correction of the previous upward impulse from July and the 50-day moving average. The breakout of this support zone accelerated the active impulse wave ©. NZD/USD is likely to fall further to the next sell target at the support level 0.7080 (previous monthly low from August). Strong resistance now stands at 0.7250. More: https://new.fxbazooka.com/analytics/10819 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 10, 2016 Share Posted October 10, 2016 While cable is crashing, banks batten on its misfortunes 10/10/2016 Pound depreciated 4.2% last week, which it its worst performance since June 24. The slide accelerated after prime-minister Theresa May said, that she is going to trigger Article 50 in March next year. With GBP crashing to its 31-year low, many GBP short positions of the main stakeholders (CitiFX, Societe Generale and Credit Suisse) hit their long-term targets and got into big money. While many traders abstain from selling after tremendous GBP slump, suspecting consolidation in near-term scenario at 1.23-1.26 levels, the National Australia Bank (NAB) started its trading week with a new short GBP/USD position. NAB decided not to keep to a conservative trading approach of waiting for the currency stabilization and initiated the trade at 1.2414 targeting 1.16 with a wide stop at 1.2750. This decision was taken due to the fact that the pound revealed its weakness during the 7th October session slumping precipitately in a matter of time. The trending cable is perhaps the easiest directional victim for investors, according to NAB. NAB is short GBP/USD from 1.2414 with a target at 1.16 and a stop at 1.2750 since the 9th October trading session. More: https://new.fxbazooka.com/analytics/10820 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 10, 2016 Share Posted October 10, 2016 EUR/USD: bears going to achieve support 10/10/2016 The 55 & 34 Moving Averages acted as a resistance, so we’ve got a “Harami” and a “Two Crows” at the local high. In this case, the market is likely going to decline towards the nearest support line. As we can see on the Daily chart, there’s a resistance by the 13 Moving Average. Therefore, bears are likely going to move on after a local upward correction. There’s a bearish correction in progress. We’ve got a bearish “Engulfing” at the local high, which has been confirmed by the last “Three Methods” pattern. So, the price is likely going to test nearest support line. If we see a pullback from this level, there’ll be an opportunity to have another upward movement. More: https://new.fxbazooka.com/analytics/10821 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 10, 2016 Share Posted October 10, 2016 USD/JPY: resistance waiting for price 10/10/2016 We’ve got a “High Wave” and an “Engulfing” patterns, so bulls are likely going to test the upper “Window” once again. As we can see on the Daily chart, there’s an “Engulfing” at the last high. In this case, there’s an opportunity to have another decline right after the current bullish correction. There’s a “Harami”, which has been confirmed enough. Considering that the price is trading above the last “Window”, it’s likely that the market is going to reach the nearest resistance. If we have a pullback from this level, bears will probably try to deliver a downward price movement. More: https://new.fxbazooka.com/analytics/10822 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 USD/CAD & Oil prices w/ Housing Starts: More weakness for the Loonie? 10/11/2016 Canadian Dollar started the week with very volatile moves because of recent OPEC developments and statement by Russian President, Vladimir Putin. Now it’s being favoured by the market sentiment and helped to push lower the USD/CAD across the board and today at 12:15 GMT we expect the release of Housing Starts for September in Canada, where the consensus is an increase from 182,7K to 190K and it can be a mid-to-high macro event in terms of volatility. The technical analysis for USD/CAD at H4 chart is showing that a bullish trend line can be tested soon, following the strong pullback made during Monday’s session. There is also a support zone at the 1.3140 level, where the Loonie may gain momentum to resume the upward bias. If CAD remains strengthening in coming hours, then a decline towards the 1.3090 level is possible, while a breakout above the 1.3237 level should open the doors to test 1.3294. More: https://new.fxbazooka.com/analytics/10823 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 USD/JPY: bears admit their defeat 10/11/2016 On the USD/JPY daily chart, "bears" continue to dominate the market and fullfil the target we defined for them earlier (see here). A breakout of resistance line at 104.45 (61.8% Fibonacci retracement level of the wave XA) may activate the target 78.6% of the Gartley pattern. Support should be sought near the 103.45 mark. On the USD/JPY hourly chart, there is a steady upward trend. Traders should buy the dollar against the yen when pullbacks to the support line at 103.8 (88.6% Fibonacci retracement level of the last downward wave) occur. AB = CD pattern helps to identify the targets of the northward rally. They are located near the markers 104.55 (126.2%), 105.05 (161.8%) and 105.9 (224%). Recommendations: hold longs, BUY 103,8 SL 103,25 TP1 105,05 TP2 105,9. More: https://new.fxbazooka.com/analytics/10826 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 EUR/USD: bulls set a trap 10/11/2016 On the EUR/USD daily chart, there was another test of the lower boundary of the triangle. If "bears" manage to attack the support, the quotes may fall down to the 1.1055 (target 127.2% of the pattern AB = CD), 1,104 (78.6% Fibonacci retracement level of XA wave) and 1.1 (target 88.6% of the "Shark" pattern) marks. On the EUR/USD hourly chart, if "bears" fail to test the lower boundary of the downward trade channel, "bulls" may ?ounterattack once they fullfil the target 161,8% of the "Three Indians" pattern. Recommendations: BUY 1,1055 SL 1,1 TP1 1,1160 TP2 1,1205 BUY 1,1 SL 1,0945 TP1 1,116 TP2 1,1205. More: https://new.fxbazooka.com/analytics/10827 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 USD/JPY: on the September highs 10/11/2016 Technical levels: support – 103.50; resistance – 104.00. Trade recommendations: 1. Buy — 103.50; SL — 103.30; TP1 — 104.00; TP2 — 104.60. Reason: a bullish Ichimoku Cloud and rising Senkou Span A; an irregular deadcross of Tenkan-sen and Kijun-sen. More: https://new.fxbazooka.com/analytics/10828 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 EUR/USD: the Bulls have won 10/11/2016 Technical levels: support – 1.1130; resistance – 1.1170. Trade recommendations: 1. Sell — 1.1160; SL — 1.1180; TP1 — 1.1100; TP2 – 1.1070. Reason: a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; bearish character of Ichimoku Cloud; the prices are under the lines of Indicator. More: https://new.fxbazooka.com/analytics/10829 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 Key option levels for Tuesday, October 11th 10/11/2016 EUR/USD Main trend Short-term period Medium-term period Bearish Bearish Changes in the open interest + 1 723 ? + 15 011 ? Closest resistance levels 1.1199; 1.1226; 1.1245; 1.1269 Closest support levels 1.1120; 1.1100; 1.1074; 1.1043 Trading recommendations Baseline scenario Short EUR/USD below 1.1120, with target points at 1.1100 and 1.1074 Alternative scenario Moving above 1.1199 can be considered as a signal to Buy the pair, with target at 1.1226 and 1.1245 GBP/USD Main trend Short-term period Medium-term period Neutral Bearish Changes in the open interest + 2 234 ? + 2 344 ? Closest resistance levels 1.2436; 1.2468; 1.2487; 1.2508 Closest support levels 1.2271; 1.2251; 1.2228; 1.2203 Trading recommendations Baseline scenario Short GBP/USD below 1.2271, with target points at 1.2251 and 1.2228 Alternative scenario Moving above 1.2436 can be considered as a signal to Buy the pair, with target at 1.2468 and 1.2487 USD/JPY Main trend Short-term period Medium-term period Bullish Neutral Changes in the open interest + 1 071 ? + 224 ? Closest resistance levels 103.87; 104.18; 104.38; 104.65 Closest support levels 103.02; 102.67; 102.43; 102.15 Trading recommendations Baseline scenario Long USD/JPY above 103.87, with the target points at 104.18 and 104.38 Alternative scenario Moving below 103.02 can be considered as a signal to sell the pair, with target at 102.67 and 102.43 USD/CAD Main trend Short-term period Medium-term period Neutral Bullish Changes in the open interest + 233 ? + 584 ? Closest resistance levels 1.3215; 1.3245; 1.3284; 1.3335 Closest support levels 1.3129; 1.3110; 1.3080; 1.3045 Trading recommendations Baseline scenario Long USD/CAD above 1.3215, with the target points at 1.3245 and 1.3284 Alternative scenario Moving below 1.3129 can be considered as a signal to sell the pair, with target at 1.3110 and 1.3080 More: https://new.fxbazooka.com/analytics/10830 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 EUR/USD: bears going to deliver new low 10/11/2016 The price faced a resistance at 1.1196, which led to form a “Double Top” pattern. Therefore, the market is likely going to reach a support at 1.1113 – 1.1093 in the short term. If a pullback from this area happens, there’ll be an opportunity to have an upward price movement in the direction of a resistance at 1.1165 – 1.1181. Bears found a support at 1.1122, so the price is consolidating. However, the pair is likely going to achieve the next support at 1.1103 – 1.1093 during the day. At the same, bulls will probably try to reach the 55 Moving Average afterwards. More: https://new.fxbazooka.com/analytics/10831 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 GBP/USD: consolidation going to move on 10/11/2016 The price is consolidating. So, bears are likely going to achieve the nearest support at 1.2226 in the short term. Meanwhile, if we see a pullback from this level, there’ll be an opportunity to have an achievement of the closest resistance at 1.2476. We’ve got a flat on the one-hour chart. Therefore, the price is likely going to get a support at 1.2349 – 1.2226 in the short term. Considering a possible pullback from these levels, bulls will probably try to deliver an upward correction afterwards. More: https://new.fxbazooka.com/analytics/10832 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 USD/JPY: a new upsurge? Let’s ask banks 10/11/2016 There is a steady bullish trend on the technical chart of USD/JPY currency pair. Yesterday yen showed a rather tepid reaction to better than expected trade balance figures. The data showed that the nation exported more goods abroad than it imported (the nation’s balance was ¥243.2 versus expected ¥116.5 bln). In contrast, dollar managed to strengthen its positions in the course of the Asian session as Charles Evans, president of the Federal Reserve Bank of Chicago, said that the Fed will have to peg a rate hike in December. Morgan Stanley and Goldman Sachs reacted to the pair’s upsurge with opening longs. MS is going to buy once the pair falls near 102.5, while GS is going scale into long positions from the present levels and add through 105 placing a stop loss at 101.84. Morgan Stanley makes its projections based on macroeconomic analysis, while Goldman Sachs operates through technical charts. Morgan Stanley believes that JPY will continue to depreciate against US dollar as Bank of Japan proceeds with its brand-new monetary measures. They sustain bank profitability and allow yen to fall further. In addition, the BoJ is determined to issue more long-term bonds and to provide a fiscal stimulus for staggering Japan’s economy in the next few months. MS sees a buying opportunity once the quotes reach the 102.5 level and expect the USD/JPY to rise up to the 108.1 mark. Goldman Sachs pays attention to the fact that the quotes reached their January highs and closed above the 100-day MA. It defined its next target at 104.86 (the August low). If the resistance line at this level is tested successfully, the quotes may rise up to the 108 level. More: https://new.fxbazooka.com/analytics/10834 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 EUR/USD: bulls ready to deliver wave E 10/11/2016 Wave D is taking form of a double zigzag. Previously, a triangle has been formed in wave [x]. Therefore, it’s likely that wave © of [y] is going to end soon, so there’s an opportunity to have wave E of (Y) afterwards. As we can see on the one-hour chart, there’s a bearish impulse in wave ©. In this case, if a pullback from -1/8 Murrey Math Line (P=200) happens, bulls are likely going to deliver another upward price movement. More: https://new.fxbazooka.com/analytics/10835 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 GBP/CAD falling inside minor impulse wave 10/11/2016 GBP/CAD falling inside minor impulse wave Next sell targets - 1.6000 and 1.5780 GBP/CAD has been falling in the last few trading sessions inside the minor impulse wave 3, which belongs to the intermediate impulse wave (3) of the extended primary impulse wave ? from the end of May. The price earlier broke through the support level 1.6680 (lower boundary of the sideways price range inside which the price has been trading from July) – which accelerated the active minor impulse wave 3. GBP/CAD is expected to fall further to the next sell target at the support level 1.6000 (which reversed previous minor impulse wave (i)) – the breakout of which can lead to further losses toward 1.5780. More: https://new.fxbazooka.com/analytics/10836 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 EUR/GBP reached buy targets 0.8900 and 0.9000 10/11/2016 EUR/GBP reached buy targets 0.8900 and 0.9000 Next buy target 0.9200 EUR/GBP continues to rise after the price earlier broke through the two consecutive resistance levels 0.8900 and 0.9000 - both of which were set as the buy targets in our earlier forecast for this currency pair. The breakout of the resistance level 0.9000 coincided with the breakout of the resistance trendline of the wide weekly up channel from November of 2015 – which intensified the bullish pressure on this currency pair. EUR/GBP is expected to rise further in the active impulse wave 5 (which belongs to the intermediate impulse wave (3) from September) in the direction of the next buy target at the resistance level 0.9200 (target price for the completion of the impulse wave (3)). More: https://new.fxbazooka.com/analytics/10837 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 Sterling’s depreciation: who will lose? 10/11/2016 The currency depreciation after Theresa May kicked off Brexit has left pound hovering around its 30-year low. Many traders rub their hands and cash in on the pound’s tremendous slump. Millions of travelers have flooded the country aspiring to shop for luxury goods or visit historical sights. It seems that everybody is happy with this turn of event. But there should be at least one individual worse off to keep the universe in harmony. And we must admit that there are plenty of them. Let’s take a look at some consequences of the pound’s depreciation and at those who loose. 1. Expensive imports A falling pound means that imports will become more expensive; prices will rise, the wholesale costs to UK retailers will be much higher. British consumers will have to face with high prices on the clothing and electricals. 2. Investment outflows +Inflation Foreign investors own large amount of UK stocks and gilts which accounts for more than $2 trillion. Now investors are becoming more cautious about putting money into country's assets. If there is a great risk of inflation, they can demand higher premiums for their inputs. As a result, we expect that there will be great outflows from the country in the upcoming months. 3. Britain’ s financial industry losses Britain's financial industry could lose up to 38 billion pounds in revenue, if there is a 'hard Brexit'. 4. Exporters may lose and win at the same time It seems that exporters are those who are actually better off from the pound’s depreciation. Their products become cheaper for foreign customers to buy. Their product becomes more competitive in domestic and international markets. But it’s not everything in the garden is rosy. Many UK companies addressed to the government with demand to ensure the country’s economic stability. Now they are trading with EU on a tariff and quota free basis. After Brexit, if the UK is not allowed to remain access to the single market, UK exporters may suffer significantly. They will have to face customs and rules-of-origin controls, as well as many non-tariff barriers, especially in services. 5. GDP reduction The United Kingdom could lose up to 66 billion pounds a year from the pound depreciation, according to the Times report revealing leaked government papers. A quarterly survey of 7,000 businesses by the British Chambers of Commerce (BCC) on Monday showed that business investment and turnover confidence in the UK had reduced to four-year lows. Another survey by Deloitte stated that chief financial officers in major British firms reported only a partial rebound in business morale after the referendum. If business sentiments toward pound are not restored, we may expect the reduction in the UK aggregate output. More: https://new.fxbazooka.com/analytics/10838 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 EUR/USD: "Window" going to act as support 10/11/2016 The price has been falling down since a “Two Crows” pattern was formed at the local high. So, bears are likely going to reach the lower “Window” in the short term. As we can see on the Daily chart, there isn’t any reversal pattern, so the main target is still the closest support line. We’ve got a “Three Methods” pattern, which has been confirmed. However, if we see a pullback from the lower “Window”, there’ll be an opportunity to have an upward correction. More: https://new.fxbazooka.com/analytics/10839 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 USD/JPY: "Engulfing" points to coming correction 10/11/2016 We’ve got a “High Wave” and an “Engulfing”, which both led to the current upward price movement. However, if bulls be stopped by the upper “Window”, there’ll be an opportunity to see a downward correction. There’s an “Engulfing” pattern at the local high, which has been confirmed enough. So, the market is likely going to decline towards the 34 Moving Average. At the same time, if a pullback from this line happens, bulls will probably try to reach the upper “Window”. More: https://new.fxbazooka.com/analytics/10840 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 11, 2016 Share Posted October 11, 2016 Powder and shot from FX Bazooka: “The third candle” strategy 10/11/2016 As you know, three is a magic number, so there is a forex strategy named “The third candle” that proved to be rather efficient. We suggest you learn it and add to your ammunition to earn more money while trading. The strategy can be applied to any currency pair on any timeframe. In order to use it you should plot stochastic indicator (5, 3, 3) on your technical chart. How to use it 1. Select the first candle. Its maximum and minimum should be located higher than that of the previous candle. The color of the previous candlestick does not matter. 2. Wait until the second candle closes in the red zone, the closing price of the previous two candles should be lower. If the second candle opens above the closing price of the first candlestick, the bearish signal is particularly strong. 3. Open a short position at the opening of the third candle. The signal must be confirmed by Stochastic indicator. 4. If the bodies of the first and second candles are very small – you shouldn’t enter the market, because quotes failed to get momentum and bears are losing their strength. 5. Stop loss should be placed a few pips above the high of the first candle. 6. Take-profit is usually plotted at the close of the third candle. 7. If you set a take-profit target at a certain mark, but the price is moving sideways, it is advisable to close the position at the fifth candle once the order is open. And one more thing to bear in mind: don’t use this strategy in a highly volatile period of trading. More: https://new.fxbazooka.com/analytics/10841 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 12, 2016 Share Posted October 12, 2016 EUR/USD ahead of FOMC Minutes: Testing a key trendline's support 10/12/2016 Today at 18:00 GMT will be released the minutes from the most recent Federal Reserve’s interest rate decision, where Janet Yellen gave some hints that there are higher chances to see a rate hike and market’s analysts are expecting to see an increase during December’s meeting. We’ll see how the minutes’ language can provide more information about it and let’s see if odds increases in coming days after the minutes’ release. Our technical analysis for EUR/USD at the daily chart, ahead of FOMC minutes, is showing a triangle pattern formation across the board and the pair is showing a very weak structure, boosted by Tuesday’s trading. Now, we’re seeing that EUR/USD is testing the support level of 1.1047 and one may expect a rebound at the current stage, in order to reach the 200 SMA, while a breakout below that zone, should expose the 1.0967 level and because of that, the triangle will be invalidated. More: https://new.fxbazooka.com/analytics/10842 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 12, 2016 Share Posted October 12, 2016 NZD/USD: bears faced with a barrier 10/12/2016 On the NZD/USD daily chart, the "Head and shoulders" pattern has been formed. As a result, the quotes came closer to the lower boundary of the rising trade channel and almost reached the target 88.6% in the "Shark" pattern. "Bears" will have to try hard to get into the convergence area at 0,7-0,704. On the NZD/USD hourly chart, target 224% in the AB = CD pattern has been fulfilled. If "bears" fail to break out 78.6% and 88.6% levels of the last upward wave, "bulls" can counterattack. Recommendations: BUY 0,704 SL 0,6985 TP1 0,716 TP2 0,722 BUY 0,7 SL 0,6945 TP1 0,716 TP2 0,722 More: https://new.fxbazooka.com/analytics/10845 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 12, 2016 Share Posted October 12, 2016 Gold decided to take a day off 10/12/2016 On the daily chart of gold, price reached the target 200% in the AB = CD pattern. A breakout of the support line at $1,250 will open the way towards the $1220 (Target 88.6% in the "Bat" pattern) and $1210 (50% Fibonacci retracement level of the last upward wave). Alternatively, rebound will create prerequisites for the restoration of the rising trend. On the hourly chart of gold, there is consolidation in the range of $1250-1267. Breakout of its upper limit might activate a "Shark" inverted pattern with target 88.6% ($1280). Successful test of the lower boundary of the trading channel might pull the quotes down to the $1220 and $1210 levels. Recommendations: BUY 1267 SL 1250 TP1 1300 TP2 1310 More: https://new.fxbazooka.com/analytics/10846 Quote Link to comment Share on other sites More sharing options...
riki143 Posted October 12, 2016 Share Posted October 12, 2016 EUR/USD: bears going to reach support 10/12/2016 There’s a “Double Top” pattern, which has been confirmed, so the price is declining. The main intraday target is the nearest support at 1.1011. If a pullback from this level happens, there’ll be an opportunity to have an upward correction in the direction of a resistance at 1.1045 – 1.1069. The price is consolidating under the lower side of the nearest support area at 1.1032. So, bears are likely going to reach the nearest support at 1.1011 during the day. Considering a possible pullback from this level, bulls will probably try to reach a resistance at 1.1045 – 1.1069 afterwards. More: https://new.fxbazooka.com/analytics/10847 Quote Link to comment Share on other sites More sharing options...
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