Forex Trade Signals

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  • Downside target for USD/CAD – FBS

    Forex Market Analysis: USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips. The pair closed below the April-May support line and the 50% Fibo retracement of the 2019-2020 advance. As you may see on the chart, the price broke out of the consolidation range within which it had ...
  • Trade Signals: GBP/AUD: bearish reversal – FBS

    Forex Market Analysis: GBP/AUD has breached the support line from August 2019. What is happening at the chart looks like a pretty big change. The bullish trend is reversing down. On Thursday, the pair closed below the 100-day MA at 1.9450 and this level will act as resistance. The further resistance levels lie at 1.9600 ...
  • Trade Signals: Technical levels for GBP/USD – FBS

    The movement in GBP/USD hasn’t started yet, but it surely will. For now the pair’s consolidating in the 1.2390/1.2295 area. The upside is limited by the short-term resistance line since April 15. Support is provided by the 200-period MA on the H4. A break below it will lead the price down to 1.2170 and 1.2030 ...
  • Trade Signals: NZD/USD is pulling down – FBS

    Forex Trade Signals: NZD/USD may be on the verge of breaking to lower levels. The pair formed a doji candlestick with a long upper shadow on the D1 – this is a bearish sign. The declining 50-day MA is capping the prices at 0.6110. On the H4, we see that the price has made a ...
  • EUR/USD has breached support – FBS

    EUR/USD had been testing the support line connecting March and April lows. On Thursday, the pair slipped below this line. The following retest of 1.0880 provided resistance and made the price turn down. Currently we are witnessing a kind of a “Falling three” pattern on the H4 chart. A close below 1.0815 will open the ...
  • Trade Signals: GBP-three factors – FBS

    Technicals Strategically, the British pound is slowly sliding down against the USD. If we were to take into account only the performance of 2018-2019, it would look even sideways within the range of 1.2000 – 1.3334 (with the exception of the last virus-forced downswing). However, the larger picture suggests a gradual downward movement. It is reflected by the ...
  • USD/JPY is pressured by resistance – FBS

    Forex Analysis: USD/JPY has declined from 111.70 and went into consolidation around 107.50. On the D1, we can see that yesterday’s attempt of bulls to bring the price higher failed: the candlestick has a long upper wick and closed below all the key daily moving averages. The United States will release ISM Manufacturing PMI at 17:00 ...
  • Trade Signals: STOCKS – mystery ahead FBS

    Biology The virus spread is probably going through its toughest phase in Europe and the US, and its good news. Although the numbers of mortal cases being at their highest rates in Spain and Italy scream with human astonishment, both countries report that the expansion halted its dynamic. Statistically, that means the curve of the infected ...
  • GBP/USD: outlook remains bearish – FBS

    In the current financial turmoil, the British pound doesn’t look like the currency of choice. At least, not versus the US dollar or the Japanese yen. GBP/USD retraced more than 78.6% Fibonacci of the 2019 advance. Last week was the worst for the pair since the Brexit referendum. Despite the fact that the pair is oversold ...
  • USD/JPY tries to recover – FBS

    After testing the lowest levels since 2016 in the 101.18 area earlier this week, USD/JPY turned up and returned above 105.00. On the H4, the pair formed a higher low and rose above the 50-period MA. Japan announced the unscheduled purchase of 200 billion yen ($1.90 billion) in government debt. The news has weakened the yen. USD/JPY ...
  • EUR/CAD: correction time? – FBS

    After opening the week with a gap up, EUR/CAD formed two inside bars on the D1. This is the sign that the advance has run out of steam. The pair is awaiting the actions and comments of the European Central Bank. The ECB will announce its policy changes at 14:45 MT time and hold a ...
  • USD/CHF: levels for trading – FBS

    The decline of USD/CHF from February highs to March lows was epic. The pair reached support at 0.9185 (2018 low) and turned up on the W1 (notice that the reversal candlestick at this timeframe still hasn’t been formed) and the D1. The next obstacles on the upside lie in the 0.9400/15 area and at 0.9440 ...
  • Key levels for EUR/USD ahead of NFP – FBS

    EUR/USD has reached December high at 1.1240 and is actively testing levels above it. The picture at the chart changes very fast. Traders don’t really like the USD at the moment, so the pair will easily get to 1.1295 (the line connecting October and December highs). There it will likely meet some resistance ahead of ...
  • Want to choose a currency pair? Consider EUR/JPY – FBS

    If you don’t want to deal with the violent moves of the USD these days, consider crosses, for example, EUR/JPY. The currency pair has been moving down since the start of January as the yen strengthened on the rising demand for safe havens. On the W1 chart, there are many negative signs: the 50-week MA limits ...
  • Will EUR/CAD follow EUR/AUD? – FBS

    The Bank of Canada will announce its interest rate decision at 17:00 MT time. According to the forecast, the regulator will lower the key interest rate from 1.75% to 1.25%. On Tuesday, the Reserve Bank of Australia cut its key rate from 0.75% to 0.5%. The AUD, however, strengthened versus the EUR. If you look at ...
  • AUD/USD rose after the RBA meeting – FBS

    As the market had expected, the Reserve Bank of Australia cut its interest rate from 0.75% to 0.5%. The Australian dollar rallied versus its US counterpart on the news as the decision had been priced in. In addition, the RBA didn’t signal further rate cuts. On the D1, AUD/USD formed an inside bar on Monday. As ...
  • Oil is testing support – FBS

    Forex Analysis: The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus. The spread of the disease may affect the commodity as the demand for it may decline because of the travelling bans. The decline below the support at 51.55 ...
  • GOLD: rising during a disaster – FBS

    Time to worry: Simply put, things are getting worse. The virus keeps spreading, people keep dying, the Chinese economy is close to partial paralysis, the global market is scared. Amidst all this, gold keeps rising in value. In fact, it just woke up for the crisis alert. Have a look at an interesting dynamic visible at ...