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Market analysis "Commerzbank: EUR/USD may rise to 1.4445 and 1.4580" ( 2010-11-04 )
The single currency advanced yesterday and managed to overcome 1.4080 and 1.4160 resistance levels. Technical analysts at Commerzbank believe that this means that the pair EUR/USD is poised upwards towards 1.4445 and 1.4580.
If euro keeps gaining, resistance levels will be found at 1.4217/64 (December and early January minimums) and 1.4445/1.4580 (the double Fibonacci, 2010 maximum and 2-year resistance line).
If the European currency declines, support levels will lie at 1.3943/1.3880 (20-day MA and 3-month support line).
http://www.fbs.com/upload/image/tech...9c_500_0_0.jpg
Chart. H4 EUR/USD
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Market analysis BNP Paribas: BOJ won't extend quantitative easing" ( 2010-11-04 )
Analysts at BNP Paribas claim that the Bank of Japan may decide not to follow the Federal Reserve that announced new $600 billion bond purchases and refrain from further monetary easing at the end of its 2-day meeting tomorrow. The specialists justify their assumptions by the fact that yen didn’t surge after the FOMC statement yesterday.
The strategists claim that the amount of the Fed’s purchases was almost in line with market expectations and Japan’s currency is in a better situation than before.
As the yen failed to strengthen, the Bank of Japan will now just announce the details of its purchases of real-estate investment trusts and exchange-traded funds. The purchases will be part of a 5 trillion-yen ($62 billion) fund unveiled by Japanese monetary authorities last month.
http://www.fbs.com/upload/image/tech...a0_500_0_0.jpg
Chart. H4 USD/JPY
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FBS ( Server maintenance )
Dear Customers!
This is to inform you that FBS will perform regular server maintenance on Monday, the 8th of November. This is a scheduled maintenance aimed to make your trading faster and more secure!
During the maintenance the server and the website of the company will not be available 4 a.m. GMT to 5 a.m. GMT. After that all the services will be available as usual. We apologize for any inconvenience caused.
FBS is moving towards its ultimate goal: offering our clients top quality service and the best trading conditions. We strive to satisfy all your needs and carefully review the feedback we receive from you:). This software update is a huge step towards this direction.
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Market analysis "Ichimoku. Weekly forecast. GBP/USD" ( 2010-11-08 )
Weekly GBP/USD
British pound kept rebounding last week as well. Sterling was helped mainly by the fundamental factors that weakened the greenback.
The bulls made the pound’s rate advance almost to 1.6300, although they didn’t manage to test the nearest resistance at 1.6400 (peak formed by the recent upper border of the Cloud).
It may happen that this week the buyer will continue pushing the pair upwards as the Preceding lines (1, 2) have already started to switch the Cloud and Tenkan-sen and Kijun-sen (3, 4) went up.
http://www.fbs.com/upload/image/tech...b8_500_0_0.jpg
Chart. Weekly GBP/USD
Daily GBP/USD
The uncertain trade at the beginning of the last week led to the formation of 2 “high waves”. However, the further dynamics of the pair was fully determined by the bullish sentiment and as a result Tenkan-sen and Kijun-sen formed the “golden cross” (5) and began rapidly growing.
The preceding lines as well pushed the Ichimoku Cloud up (1, 2). It’s necessary to note that Senkou Span A (1) is still poised firmly upward.
There was, however a “dark-cloud cover” formed on Friday that may lead to the consolidation at the current levels.
http://www.fbs.com/upload/image/tech...06_500_0_0.jpg
Chart. Daily GBP/USD
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Market analysis "Ichimoku. Weekly forecast. USD/JPY" ( 2010-11-08 )
Weekly USD/JPY
Last week the bulls were extremely active on the USD/JPY market managing to confirm the reversal character of the “reversed hammer” that was formed on the candle chart 2 weeks ago. That is why bullish sentiment may continue dominating the market this week.
Never the less, the general trend is still descending (the Preceding lines are falling (1, 2)). In addition, Tenkan-sen and Kijun-sen (3, 4) are as well directed downwards.
http://www.fbs.com/upload/image/tech...1f_500_0_0.jpg
Chart. Weekly USD/JPY
Daily USD/JPY
On the daily chart the prices have already entered Tenkan-Kijun channel (3, 4) that means that the market is willing to start rebounding.
Taking into account the fact that all the lines of the Indicator are directed horizontally (1, 2, 3 and 4), it’s possible to assume that the pair USD/JPY may advance this week. If the bulls manage to hold above the Turning line (3), the next resistance level will be found at the opposite border of the channel – the Standard line (4).
http://www.fbs.com/upload/image/tech...02_500_0_0.jpg
Chart. Daily USD/JPY
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Market analysis "Ichimoku. Weekly forecast. USD/CHF" ( 2010-11-08 )
Weekly USD/CHF
The greenback’s attempt to rebound versus Swiss franc was interrupted right at the beginning of the week. The prices didn’t manage to hold above the Turning line (3), even despite the desperate efforts of the buyers.
The downtrend is still in place and is likely to remain as the bears regained confidence and resumed lowering the rate to renew the recent minimums.
http://www.fbs.com/upload/image/tech...3b_500_0_0.jpg
Chart. Weekly USD/CHF
Daily USD/CHF
On the daily chart it’s possible to see that the bulls weren’t strong enough to push the rate to the lower border of the Ichimoku Cloud. It’s clear that this was the main reason why the rate dropped consolidating below the Standard line (4).
The “golden cross” (5) may be soon cancelled and the lines Tenkan-sen and Kijun-sen (3, 4) will switch downwards in the short term. In this case the rate will keep declining.
http://www.fbs.com/upload/image/tech...e6_500_0_0.jpg
Chart. Daily USD/CHF
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Market analysis "Elliott Waves analysis on USD/JPY dynamics" ( 2010-11-08 )
Technical analysts at Mitsubishi UFJ Morgan Stanley Securities Co. expect Japanese currency to climb to new record maximum at about 72 yen per US dollar during the first half of 2011. The forecast of the strategists is based on the Elliott Waves analysis.
The greenback weakened against yen in the first, third and fifth Elliott Waves correcting in the second and the fourth ones.
The first wave began when Japan ended in 1973 yen’s peg to American currency after US President Richard Nixon suspended the gold standard for the dollar in 1971. The initial wave pushed the yen to the maximum at 175.5 yen per dollar in October 1978 before the second wave pulled it down to 278.50 yen per dollar in October 1982. The third wave ended when yen rose to the all-time high at 79.75 in April 1995, while the 12-year fourth wave, where a “triangle formation” appeared, finished when the yen hit minimum at 124.16 yen in June 2007.
The continuing currently fifth wave will end in the second quarter of 2011, claim the Mitsubishi UFJ Morgan Stanley Securities specialists on the theory that US dollar bottoms out at an average cycle of 64 months. The last stage could end in October 2011 as it may take 198 months for the fourth and fifth waves to finish, as it took the second and third ones.
The pair USD/JPY lost about 50% during the first wave and dropped from April 1990 maximum at 160.35 yen to the record minimum at 79.75 yen. The analysts believe that Japanese currency may target 75 yen level, which is about 50% below the August 1998 maximum at 147.63 yen or 72 yen representing one-fifth of 360 yen.
After the yen’s 40-year rally ends next year, the currency will begin a long-term decline against the dollar. The yen may target 124 per dollar level reached when the “triangle” pattern was completed in the fourth wave.
As yen decreased to yen 147 per dollar during this formation it may get down to 150 yen per dollar in 2015-2016.
http://www.fbs.com/upload/image/tech...dd_500_0_0.jpg
Chart. Monthly USD/JPY
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Market analysis "UBS: euro will fall to $1.25/30" ( 2010-11-09 )
Currency strategists at UBS AG believe that the advance of the European currency versus the greenback may be short-lived. The specialists note that there’s a new wave of concerns about euro zone’s debt problems. As a result, they expect euro to lower to $1.25/30 during the next 3-6 months.
UBS analysts are bearish on the pair EUR/USD. According to them, the stronger euro becomes and the more it climbs above $1.40, the bigger is the negative impact on the region’s economic growth. The long-term fair value of the single currency is at $1.20, claims UBS. Even if the outlook for the peripheral European nations improves and they will be thought to be able to generate sufficient tax revenues to pay back their debts, EUR’s gains will decrease.
The yield spread between 10-year Irish bonds and German bunds of the same maturity climbed last week by 80 basis points as the Ireland’s government struggles to convince investors taht it won’t need financial help.
http://www.fbs.com/upload/image/tech...39_500_0_0.jpg
Chart. Daily EUR/USD
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Market analysis "Mizuho: GBP/USD will set minimum at 1.6000" ( 2010-11-09 )
The pair GBP/USD is declining from its maximum in the 1.6300 area and the weekly trend line resistance reached so far.
Technical analysts at Mizuho Corporate Bank expect that if all goes well there pound will set interim minimum in the 1.6000 zone. According to them, the moving averages will help and the Chinkou Span and of the Ichimoku Cloud will get some bullish momentum from October’s candles.
The specialists advise investors to attempt longs at 1.6100 stopping well below 1.6000. First target is at 1.6300, while the eventual one lies at 1.6500.
http://www.fbs.com/upload/image/tech...49_500_0_0.jpg
Chart. H4 GBP/USD
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Market analysis "Commerzbank: euro will go down to 1.3734/1.3690" ( 2010-11-09 )
Technical analysts at Commerzbank claim that the single currency is likely to have capped in the 1.4300 area trading versus the greenback as the pair EUR/USD has lost more than 400 pips so far and broke down through the support line of the near-term upside channel. The upside momentum for euro is ruined and it’s possible to observe major divergence of the daily RSI.
The specialists believe that euro is now poised to support in the 1.3734/1.3690 zone. The next support will be found at 1.3365/35 (38.2% Fibonacci retracement and August peak).
Even if the European currency manages to recover, it won’t be able to overcome 1.3940/1.4085 levels, notes Commerzbank.
http://www.fbs.com/upload/image/tech...7c_500_0_0.jpg
Chart. H4 EUR/USD
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Market analysis "Risk aversion drives yen up" ( 2010-11-09 )
China's State Administration of Foreign Exchange announced today new financial market regulations that are aimed to reduce the inflows of hot money. The measures include strict management of quotas for the use of short-term foreign debt by financial firms and strong oversight of fund repatriation by Chinese companies listed overseas, and of inbound investment by offshore investors.
Analysts at Bank of Tokyo-Mitsubishi UFJ claim that if money flows from overseas decrease, Chinese share and asset prices will weaken and the pace of the country’s economic growth will decline.
The market reacted on such news with investors becoming more risk-averse making investors sell shares and bought the safe-haven yen in the wake of the announcements.
Some short-term-focused investors may try to execute automated stop-loss selling orders between yen range later in the day based on the view that the US economy may remain weak over the coming months. If these orders are triggered, the greenback may fall to 80.00 yen.
http://www.fbs.com/upload/image/tech...0e_500_0_0.jpg
Chart. H1 USD/JPY
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Market analysis "UBS: EUR/CHF will fall to 1.29" ( 2010-11-09 )
Currency strategists at UBS AG advise investors to sell the single currency versus Swiss franc at 1.355 as they expect the pair EUR/CHF to weaken to 1.29.
Earlier the specialists recommended entering the trade at 1.3870. The recommendations changed as the renewed concerns about the peripheral euro area’s countries weighted on euro and made investors choose franc as a safe haven currency.
http://www.fbs.com/upload/image/tech...14_500_0_0.jpg
Chart. H4 EUR/CHF
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Market analysis "Danske Bank: sentiment at the currency market" ( 2010-11-10 )
Analysts at Danske bank note that US dollar and Swiss franc benefit from the pessimistic sentiment that enveloped financial markets. The specialists don’t think, however, that investor’s mood will remain bad as the Federal Reserve’s easing policy encourages the demand for riskier assets. In their view, it’s necessary to hedge dollar income at current levels.
Danske strategists claim that the Bank of England may revise downwards its CPI and GDP forecast for 2011 while revising the 2010 numbers slightly higher. That may weigh on pound which was strengthening so far.
http://www.fbs.com/upload/image/tech...7f_500_0_0.jpg
Chart. H1 EUR/USD
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Market analysis "Mizuho: EUR/JPY again bounced from 111.75" ( 2010-11-10 )
Technical analysts at Mizuho Corporate Bank note that the European currency is bouncing for a third time from 38% Fibonacci retracement at 111.75. This time the jump was made with a small “hammer” candle.
The specialists believe that the pair EUR/JPY will find support at the top of the daily Ichimoku Cloud. According to them, euro will be gradually appreciating to rise a bit higher over the coming month. The bank strategists also draw investors’ attention to the fact that the Chinkou Span might have to struggle through candles for another month.
As a result, Mizuho recommends buying at 112.85/112.35 and stopping below 111.50. The pair EUR/JPY is thought to advance to 114.00 and then to 115.40/115.68.
http://www.fbs.com/upload/image/tech...8e_500_0_0.jpg
Chart. H4 EUR/JPY
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Market analysis "JPMorgan: EUR/USD will drop to 1.30 by the end of t" ( 2010-11-10 )
The pair EUR/USD declined yesterday as the successful Greek bond auction was able to weaken concerns about euro area’s debt problems only temporary. The demand for the Greek bonds helped euro regain its positions lost at the beginning of Tuesday trade when investors were selling the European currency as the cost of insuring some peripheral European countries’ debt against default surged to the historical maximums.
As there’s a great tightness in the fiscal and budget system of the region, the level 1.40 for the pair EUR/USD is too high at the moment, claims JPMorgan. The bank specialists expect that the single currency will fall to 1.30 by the end of 2010.
http://www.fbs.com/upload/image/tech...9a_500_0_0.jpg
Chart. H1 EUR/USD
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Market analysis "Commerzbank: EUR/USD risks falling to 1.3335/65" ( 2010-11-10 )
The single currency declined versus the greenback by nearly 600 pips falling from the Thursday’s maximum at 1.4281 to the target 1.3715/3690 zone.
Technical analysts at Commerzbank are looking forward to recovery on euro crosses today. According to them, support in the 1.3715/3690 area (Fibonacci retracement, October minimum) will be able to hold the initial test while the daily RSI which continues to break down.
There’s the risk that the pair EUR/USD will drop to 1.3335/65 (38.2% Fibonacci retracement and August peak) as long as it stays below 1.3937/1.4080.
http://www.fbs.com/upload/image/tech...48_500_0_0.jpg
Chart. H4 EUR/USD
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Market analysis "PricewaterhouseCoopers: British debt will rise by 2" ( 2010-11-10 )
Economists at PricewaterhouseCoopers LLP believe that Britain’s total debt comprising the debts of UK consumers, companies, banks and the government may increase by 2015 almost to 10 trillion pounds ($16.1 billion) threatening the country’s long-term economic growth. Government debt is expected to rise from 67% of GDP to 77%. The country’s economy will add about 1.8% this year and 2% in 2011.
The debt of British households and companies advanced during the past 10 years on the property-related borrowing and lending between financial institutions, while the public debt rose as Britain’s tax revenue fell due to the recession.
There will be eventually too possible outcomes for the country. The debt should be sharply reduced that, in its turn, would risk causing another recession. Otherwise, the persistently heavy debt service burden would damp Britain’s economic growth for decades to come.
It’s necessary to understand that the interest rates will not be forever on the current exceptionally low level, so a large part of household and corporate lending remains exposed to possible future falls in residential and commercial property prices.
http://www.fbs.com/upload/image/tech...92_500_0_0.jpg
Chart. Daily GBP/USD
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Market analysis "Standard Bank: sell euro versus US dollar" ( 2010-11-10 )
Currency strategists at Standard Bank Plc. advise investors to sell the single currency the greenback expecting that the pair EUR/USD will drop to $1.3450. The trade should be stopped if euro climbs to $1.4290, recommend the specialists. According to them, the European currency seems to have little strength on its crosses.
http://www.fbs.com/upload/image/tech...c1_500_0_0.jpg
Chart. H4 EUR/USD
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Market analysis "BNZ: risk aversion encourages the greenback" ( 2010-11-10 )
The spread on Portugal’s 10-year bonds over the German debt grew yesterday to the record high level of 452 basis points, while the spread on Irish 10-year securities over bunds reached an all-time maximum at 554 basis points. Portugal and Ireland still remain Europe’s most indebted countries.
Strategists at Bank of New Zealand Ltd. note that a sudden surge of the risk aversion on concerns the situation in these countries made investors increase demand for the greenback as a safe haven currency selling US stocks.
http://www.fbs.com/upload/image/tech...3d_500_0_0.jpg
Chart. H4 EUR/USD
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Market analysis "Mizuho: EUR/JPY again bounced from 111.75" ( 2010-11-10 )
Technical analysts at Mizuho Corporate Bank note that the European currency is bouncing for a third time from 38% Fibonacci retracement at 111.75. This time the jump was made with a small “hammer” candle.
The specialists believe that the pair EUR/JPY will find support at the top of the daily Ichimoku Cloud. According to them, euro will be gradually appreciating to rise a bit higher over the coming month. The bank strategists also draw investors’ attention to the fact that the Chinkou Span might have to struggle through candles for another month.
As a result, Mizuho recommends buying at 112.85/112.35 and stopping below 111.50. The pair EUR/JPY is thought to advance to 114.00 and then to 115.40/115.68.
http://www.fbs.com/upload/image/tech...8e_500_0_0.jpg
Chart. H4 EUR/JPY
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- The bonus can be withdrawn after the total volume of orders in an account reaches bonus size divided by 3 (rounded to the larger number). In case the account had several bonuses, this volume sums up. E.g. your deposit was 1000 USD. Your bonus will be 250 USD. The total volume must be 250/3 = 84 lots.
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FBS - Demo server update
FBS will be performing demo server scheduled maintenance on the 11th and the 12th of November. The maintenance is required to speed up the demo server.
Therefore demo server users can experience connectivity problems.
We apologize for any inconvenience caused.
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Market analysis "Mizuho: dollar may rise above 85 yen" ( 2010-11-11 )
Technical analysts at Mizuho Corporate Bank Ltd. believe that the greenback may climb to 7-week maximum at 85 yen.
The specialists note that the daily Ichimoku chart shows the dollar went above the baseline on November 10 as it already happened when the pair USD/JPY gained on September 15 after Japan intervened at the currency market selling yen for the first time since 2004. US currency added momentum this week as the conversion line overcame the baseline forming a “golden cross”.
US dollar is poised to rise towards the Ichimoku Cloud. According to Mizuho, the Cloud was very thick when intervention occurred, but now it’s thin and, as a result, is regarded as an easy target. The strategists expect that the rate will break through the Cloud right after it enters it.
If USD/JPY manages to rise next week above the Cloud in 83.70 yen area and hold at those levels, it may be able to get upwards to the key psychological level at 85 yen, maximal since September 24.
http://www.fbs.com/upload/image/tech...11_500_0_0.jpg
Chart. H4 USD/JPY
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Market analysis "Societe Generale: buy pound versus the greenback" ( 2010-11-12 )
Analysts at Societe Generale SA recommend buying British pound versus the greenback as the prospect of asset purchases by the Bank of England reduced. In addition, sterling was helped by fact that the economic data turned out to be better than the specialists thought ahead of public spending cuts.
According to Societe Generale, it’s necessary to purchase GBP/USD looking forward to its advance to $1.69 and end the trade if it weakens to $1.58. The analysts advise investors to buy Australian dollar against yen and the Norwegian krone versus the single currency.
http://www.fbs.com/upload/image/tech...fd_500_0_0.jpg
Chart. H4 GBP/USD
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Market analysis "John Taylor advises to sell euro versus the greenba" ( 2010-11-12 )
John Taylor, the head of the world’s biggest foreign-exchange hedge fund FX Concepts LLC, doesn’t think that the policy of weak dollar will be enough to help the United States reduce its trade deficit that is strongly influenced by its gap with China that has reached $28 billion.
This problem is discussed in Seoul where G20 meeting is taking place. US President Barack Obama, who has pledged to double exports during 5 years, is trying to broaden the currency debate by linking it to a worldwide effort to rein in current-account imbalances.
Last month Taylor forecasted the greenback to stay at low levels against euro through November until the effect of the Fed’s bond-buying program deteriorates. Now the specialist recommends selling the single currency because of internal debt problems in the euro area. Euro is going to decrease faster than dollar did, expects Taylor.
http://www.fbs.com/upload/image/tech...52_500_0_0.jpg
Chart. H1 EUR/USD
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Market analysis "BBH: emerging market's currencies will fall versus " ( 2010-11-12 )
Analysts at Brown Brothers Harriman & Co. advise investors to take profit on gains in emerging-market currencies as they expect these currencies to start declining up to the end of the year. The specialists believe in such outcome as the markets’ risk appetite may deteriorate due to the concerns that some European countries may need financial help.
So, such currencies as Brazilian real, South Korean won and Mexican peso are likely to switch downwards from their recent upward dynamics versus US dollar.
Emerging-market fundamentals are strong and the slump of their currencies is caused only by the external factors. As a result, when the situation in Europe stabilizes in 2011 emerging-market currencies will recover.
Brown Brothers Harriman claims that investors shouldn’t try to buy on the dips it’s necessary to take profit or to go short.
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Market analysis "Ichimoku. Weekly forecast. GBP/USD " ( 2010-11-15 )
Weekly GBP/USD
Last week the bulls have unexpectedly lost their positions at the GBP/USD market surrendering to the bears. As a result, there was a “hanging man” model formed on the daily candle chart. If this figure gets confirmed, the prices may return to the upper border of the Cloud – Senkou Span B.
The general outlook remains neutral as the Preceding lines (1, 2) stay horizontal being in process of forming the “golden cross”.
Chinkou Span is gradually going to the area of the maximal deviation from the price chart that may lead to the significant decline of the rate.
http://www.fbs.com/upload/image/tech...d5_500_0_0.jpg
Chart. Weekly GBP/USD
Daily GBP/USD
As it was expected the “dark-cloud cover” formed on the daily chart led not only to the consolidation, but also to the correction of the prices to the Standard line (4) that was horizontal at that moment strengthening, in its turn, the support for the prices. As a result, the pound’s rate slightly rebounded on Wednesday. The further growth, however, was prevented by the Turning line (3) that’s still holding the bulls. So, on Friday there was a “high wave” formed on the candle chart that seems more like the “hanging man”.
It’s quite possible that at the beginning of this week the prices will fall again to the Kijun-sen (4) and then the advance will resume.
http://www.fbs.com/upload/image/tech...b8_500_0_0.jpg
Chart. Daily GBP/USD
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Market analysis "Ichimoku. Weekly forecast. USD/JPY" ( 2010-11-15 )
Weekly USD/JPY
It seems that the policy of holding yen’s advance conducted by the Bank of Japan began yielding its results – the pair USD/JPY is advancing during the second week in a row. The rate consolidated above 82.43 and the weekly Standard line (3) went horizontally.
Never the less, the global trend remains descending as the Ichimoku Cloud is directed downwards. It’s necessary to take into account that all the Preceding lines (1, 2) head downwards that’s only strengthening the bearish trend.
In addition, the Standard line (4) is also declining and is unlikely to reverse upwards in the near future.
http://www.fbs.com/upload/image/tech...0c_500_0_0.jpg
Chart. Weekly USD/JPY
Daily USD/JPY
After last week’s growth the pair USD/JPY as it was expected broke through the Turning line and even consolidated above Tenkan-Kijun channel. However, on Friday the prices made attempt to correct back to the Standard line (4) that led to the appearance of the “hanging man” model on the candle chart.
The greenback’s advances influenced both short-term and the long-term lines. Tenkan and Kijun (3, 4) formed the “golden cross” (5). The Preceding lines (1,2) went horizontally warning about the sideways trend at the market.
It’s clear that this week flat will resume. The prices may return again to the Turning line to bounce off to the bottom of the Ichimoku Cloud.
http://www.fbs.com/upload/image/tech...e8_500_0_0.jpg
Chart. Daily USD/JPY
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Market analysis "Ichimoku. Weekly forecast. USD/CHF" ( 2010-11-15 )
Weekly USD/CHF
Despite the strong bearish candle formed at the bounce off from the Turning line (3) a week ago, the past 5 trading days were quite positive. The bulls have gained almost compensating the decline and returned the rate to 0.9801. They didn’t manage yet, however, to break up the Tenkan-sen (3) that’s still directed downwards.
The4 general descending trend remained intact: the Ichimoku Cloud is going down and the “dead cross” (5) is still actual.
Taking into account that the Chinkou Span is going to the area of maximal deviation from the price chart, we may assume that this week the bulls will show their dominance in the short term.
http://www.fbs.com/upload/image/tech...9b_500_0_0.jpg
Chart. Weekly USD/CHF
Daily USD/CHF
On the daily chart the bulls brought the rate right to the lower border of the Cloud breaking up the resistance of Tenkan-sen and Kijun-sen (3, 4).
The lines, however, are going to intersect again as the Tenkan-sen was going down during the last 2 trading days (3).
It’s necessary to note that the Chinkou Span crossing the price chart up through the body of the black candle gives some hope to the bulls. The prices may get inside the Cloud in the near term aiming to reach its upper border.
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Chart. Daily USD/CHF
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Market analysis "Commerzbank: bullish reversal of USD/JPY may be conf" ( 2010-11-15 )
The greenback jumped last week reaching 82.70/84 area on Friday and at the beginning of Monday’s trade. The pair USD/JPY is now trying to break up through 6-month downtrend resistance and 55-day MA in this zone.
Technical analysts at Commerzbank claim that if US currency manages to close the day above these levels, the bullish reversal will be confirmed. The specialists note that such outcome is quite likely after the triple divergence of the daily RSI.
If USD/JPY advances, it will be poised to climb to 85.94 (September maximum) and 88.00/05 (200-day MA).
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Chart. H4 USD/JPY
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Market analysis "Mizuho: GBP/USD will rise to 1.6300" ( 2010-11-15 )
Technical analysts at Mizuho Corporate Bank claim that the strong “doji” candle formed on Friday shows that the pair GBP/USD is attempting to form new interim base in the 1.6000 zone.
The specialists note that it’s necessary to take into account that the MAs are pointing to a long position and the Chinkou Span obtained some bullish momentum from October’s candles, while the August resistance is likely to become a support level.
According to Mizuho, investors should buy on the dip to 1.6050 stopping below 1.5950 as the analysts expect pound to rise to 1.6175 and then 1.6300.
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Chart. H4 GBP/USD
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Market analysis "Mizuho expects EUR/JPY to gain" ( 2010-11-15 )
Technical analysts at Mizuho Corporate Bank claim that the big “hammer” formed on Friday on the EUR/JPY candle chart is regarded as the third and the last in the series and marks an interim minimum. The low of the “hammer” lies at 111.04, that is below 2 previous downside tests. The specialists note that the daily close above the top of a large daily Ichimoku Cloud was able to change momentum from bearish to bullish.
According to Mizuho, it’s necessary to buy on the dip to 112.50 stopping below 111.50 as the analysts expect the single currency to rise to 113.50 and then to 114.40.
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Chart. Daily EUR/JPY