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Forex Analytics Danske Bank: trade signals for Oct 20 Open positions:* USD/CHF: Hold SHORT at 0.9540, TAKE PROFIT 0.9302, STOP LOSS 0.9601 EUR/JPY: Hold SHORT at 135.60, TAKE PROFIT 133.44, STOP LOSS 136.10 EUR/CAD: Hold SHORT at 1.4715, TAKE PROFIT 1.4387, STOP LOSS 1.4855 GBP/JPY: Hold LONG at 183.20, TAKE PROFIT 187.37, STOP LOSS 182.75 AUD/USD: Hold LONG at 0.7218, TAKE PROFIT 0.7497, STOP LOSS 0.7195 Trade ideas: EUR/USD: Possibly SELL USD/JPY: BUY at 118.95, TAKE PROFIT 120.57, STOP LOSS 118.02 GBP/USD: BUY at 1.5405, TAKE PROFIT 1.5659, STOP LOSS 1.5315 EUR/GBP: SELL at 0.7335, TAKE PROFIT 0.7197, STOP LOSS 0.7400 (revised) EUR/CHF: SELL at 1.0865, TAKE PROFIT 1.0713, STOP LOSS 1.0925 NZD/USD: BUY at 0.6745, TAKE PROFIT 0.6937, STOP LOSS 0.6680 ____________________________________________________________ *Danske bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/6801

Forex Analytics GOLD: weekly wave analysis 20 October 2015 Daily. The pair keeps forming the final part of the long sloping triangle. We see the development of the bullish zigzag [E]. The pair is currently forming the end of this wave. H4. The market is forming the final upwards impulse ©. It seems that in the previous days the pair has formed the wave 4, which looks complete. As a result, in the near term we expect the pair to go up in the wave 5. More: http://fxbazooka.com/en/analitycs/show/6799

Forex Analytics EUR/JPY: weekly wave analysis 20 October 2015 Roman Petuchov Weekly. Beginning part of the new bullish impulse [3] is now being formed. Let's see the markup on the H4 chart. H4. After the end of the bullish impulse , we've seen a decline in a new corrective wave [ii]. It will be over this week. Afterwards we'll see a bullish move. More: http://fxbazooka.com/en/analitycs/show/6800

Forex Analytics Forex trading plan for October 20 By Elizabeth Belugina [Video] [/Video] The market’s risk sentiment was influenced by China. The nation’s Q3 GDP growth slowed down from 7% to 6.9%, the lowest reading since 2009, though slightly above expectations of 6.8%. China’s industrial production growth pace decline from 6.1% to 5.7% (forecast: 6.0%). Fixed asset investment also disappointed. Still, there was no rush in safe havens as the market expects the People’s Bank of China to step in with additional monetary stimulus. On Tuesday pay attention to the US housing data at 12:30 GMT (USD will benefit from a good reading) and the speeches of the FOMC members at 13:00-13:15 GMT and Janet Yellen (15:00 GMT). EUR/USD slid towards 1.1300. The upcoming meeting of the European Central Bank on Thursday creates negative pressure on the euro. We prefer short positions on the euro. Support is at 1.1300, 1.1260 and 1.1215. GBP/USD is once again testing resistance in the 1.5490 area (100-day MA). Support is at 1.5415/00 and as long as it holds we can’t rule out a thrust up to further resistance is at 1.5545 and 1.5600. Below 1.5400 support will be at 1.5380 and 1.5235. The Bank of England’s MPC member McCafferty will speak at 09:45 GMT and Governor Carney will take the stage at 10:00 GMT. Expect more volatility to come. UK labor market data last week were not very bad, so it’s interesting how Carney will comment on that. On Friday MPC member Forbes claimed that a rate hike in Britain would come sooner rather than later. USD/JPY is little changed in the 119.30 area. The expectations of an increase in the Bank of Japan’s monetary stimulus this month have declined and the pair’s recovery will likely be limited. Support is at 119.00, 118.70 and 118.05. Resistance is at 119.65, 120.00 and 120.90. AUD/USD tested 0.7300, but failed to break higher and will likely retreat to lower levels. Negative Chinese data finally sank in. Support is at 0.7235, 0.7200 (strong level) and 0.7160. The minutes of the Reserve Bank of Australia’s meeting will be released early on Tuesday. Resistance is at 0.7350, 0.7380 and 0.7440. More: http://fxbazooka.com/en/analitycs/show/6788

Forex Analytics USD/JPY: forecast for October 19-25 By Elizabeth Belugina During the past week USD/JPY tested lower levels in the 118.05 area. It happened as traders pulled the expectations of the Federal Reserve’s rate hike further into future. Thus, the greenback lost its main bullish driver. Moreover, demand for the Japanese yen as a safe haven was rather strong. By the end of the week, however, risk sentiment has somewhat improved, and a bullish ‘hammer’ candle was formed on the pair’s daily chart. The US dollar is still supported by the monetary policy divergence between the US and Japan: American economic data became better, and even with the Fed’s rate hike expectations diminished it’s clear that the Unites States will be the first to tighten policy. In addition, Japan lowered its assessment of the economy and industrial production last week. Still, the Bank of Japan’s Governor Kuroda once again sounded optimistic about Japanese economy and inflation on Friday. Japan’s unwillingness to add monetary stimulus is limiting USD/JPY on the upside. As a result, the pair is doomed to continue its sideways movement. Next week Japanese economic calendar is almost empty: it will be the calm before the storm of the Bank of Japan’s meeting on October 30. There will not be many data from the US either. As a result, risk sentiment will be the main market mover. China released weak GDP and industrial production data released on Monday, but negative sentiment was smoothed out by the expectations of additional monetary easing from the People’s Bank of China. The bears failed to make USD/JPY fix below 118.50. It emphasizes the fact that there is demand for the American currency in this area. Further support is at 117.00 (support line since 2012). Resistance is at 120.00, 120.35 and 120.90. More: http://fxbazooka.com/en/analitycs/show/6777

Forex Analytics EUR/USD: forecast for October 19-25 By Elizabeth Belugina In line with our expectations, the euro continued going up after it had broken above August-September resistance line. The European currency was supported by the market’s negative risk sentiment and weaker-than-expected US economic data. However, EUR/USD failed to overcome resistance in the 1.1500 area and went abruptly down on the dovish comments of the ECB Governing Council member Nowotny. The first half of the next week will be relatively light on economic data from both Europe and the United States. All in all, the focus will be on the euro area. One has to pay great attention to the European Central Bank’s meeting and press conference on Thursday. Ahead of the meeting, the euro will clearly remain under pressure, as there is a chance that the regulator will make announcements about the monetary easing. Trading after the meeting will naturally depend on what the ECB president Mario Draghi says. The risks for the euro area bearish. Note that the euro area will also release flash manufacturing and services PMIs on Friday. If the ECB’s position doesn’t become clearer, the market will make its judgment on the basis of these data. The figures are unlikely to be very bright. The speculators’ short positions on euro have contracted, and now the single currency will be more vulnerable to the negative data. China’s weak GDP and industrial production data released on Monday did not provide a push higher for the euro: negative sentiment is smoothed out by the expectations of additional monetary easing from the People’s Bank of China. Support is at 1.1260, 1.1215 and 1.1170. Resistance is at 1.1400, 1.1460 and 1.1500. More: http://fxbazooka.com/en/analitycs/show/6778

Forex Analytics US Dollar: forecast for October 19-25 Kira Iukhtenko [Video] [/Video] New week on the financial markets started with a bunch of Chinese releases. China’s economy rose more than expected in Q3, lowering uncertainty and leaving space for a Fed’s rate hike in 2015. In our view view, the US dollar has room for recovery on the new week. Unexpectedly strong CPI released last week, upbeat quarterly corporate reports, improvement of the global sentiment – all that supports the ide of a rate hike in December. For now, the chance for that is around 30%. You should also note that the net USD longs decline to a 15-months low. The correction was deep enough no mitigate the oversold conditions for the greenback. US economic calendar on the new week is rather light. The only events to watch are the housing market news on Tuesday. The Fed’s officials will deliver their last speeches before the October 28th meeting during the week. Yanet Yellen is scheduled to speak on Tuesday. More: http://fxbazooka.com/en/analitycs/show/6775

Forex Analytics Forex trading plan for October 16 [Video] [/Video] The market’s sentiment is very changeable as it swings by the influence of data releases. US inflation data for September came in line with expectations with the core figures slightly exceeding forecast. All in all, traders were preparing for worse, so US dollar performed better after the figures came out. American unemployment claims turned out to be better than expected, though Empire State manufacturing index disappointed. On Friday, the United States will release industrial production and consumer sentiment data. EUR/USD has almost reached 1.1500, but then was aggressively sold off. The euro was hit by comments of the European Central Bank’s Governing Council member Ewald Nowotny that the ECB is missing its inflation target and additional instruments are needed. Such talk increased the speculation of additional easing from the central bank. A close below 1.1400 will open the way for further declines. Support is at 1.1350 and 1.1315/00. Resistance is at 1.1460, 1.1500 and 1.1540. GBP/USD was correcting after big gains on Wednesday and as it reached resistance in the 1.5500 zone (100-day MA). Support is at 1.5380 and 1.5320 (200-day MA). Above this point the pound retains potential for more upside. Resistance is at 1.5540 and 1.5600. MPC member Forbes will speak at 10:30 GMT. USD/JPY fell to the 118.05 area. A close above 118.50 will allow the pair to recover to 119.50/70. Further resistance is at 120.35/50. On the downside, support is at 117.00. The Bank of Japan’s Governor Kuroda will speak at 06:35 GMT. AUD/USD made another test of the 100-day MA at 0.7360. Australian dollar was supported by the better risk sentiment on the expectations that the US Fed won’t raise rates this year. However, Australian employment declined in September. Resistance of the 2014-2015 trend in the 0.7400 area will be hard for the bulls to break. The pair may retest strong support in the 0.7200/7180 zone which guards the way to 0.7100. The Reserve Bank of Australian will release Financial Stability Review early on Friday. More: http://fxbazooka.com/en/analitycs/show/6757

Forex Analytics Danske Bank: trade signals for October 15 Open positions:* EUR/USD: Hold LONG from 1.1320, TAKE PROFIT 1.1561, STOP LOSS 1.1263 (revised) USD/JPY: Hold LONG from 119.46, TAKE PROFIT 120.57, STOP LOSS 118.59 USD/CHF: Hold SHORT at 0.9540, TAKE PROFIT 0.9301 (revised), STOP LOSS 0.9601 AUD/USD: Hold LONG at 0.7218, TAKE PROFIT 0.7497, STOP LOSS 0 .7140 USD/CAD: Hold SHORTfrom 1.3030, TAKE PROFIT 1.2862, STOP LOSS 1.3081 NZD/USD: Hold LONG from 0.6480, TAKE PROFIT 0.6882 (revised), STOP LOSS 0.6610 (revised) EUR/CHF: Hold LONG from 1.0910, TAKE PROFIT 1.1186, STOP LOSS 1.0865 EUR/GBP:Hold LONG from 0.7375, TAKE PROFIT 0.7525 (revised), STOP LOSS 0.7380 (revised) EUR/JPY: Hold LONG from 136.05, TAKE PROFIT 137.61, STOP LOSS 135.39 (revised) Trade ideas: GBP/USD: Possibly BUY GBP/JPY: BUY at 183.20, TAKE PROFIT 185.93, STOP LOSS 182.29 EUR/CAD: BUY at 1.4795, TAKE PROFIT 1.5158, STOP LOSS 1.4675 ________________________________________________________________ *Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/6750

Forex Analytics Forex trading plan for October 15 By Kira Iukhtenko [Video] [/Video] US figures on Wednesday pulled the US Dollar down below the 94.50 support. Retail sales and PPI disappointed the markets and lowered expectations for a rate hike in 2015. On Thursday, we’ll watch the US CPI and the Philly Fed manufacturing index. US currency is expected to stay under pressure until the end of the week. EUR/USD is testing new highs above the 1.1400 mark. As you may see from the H4 chart, trend resistance has been broken today. We still target the 1.1500 mark and expect the pullback from here. Pay attention to the 55-week SMA at 1.1440 – this is a strong resistance. GBP/USD chart remains highly volatile. After a drop by 100 points on Tuesday, the pair gained almost 200 points on Wednesday. With the bulls now dominating the market, we now see space for growth to 1.5500. Support is seen at 1.5380 and 1.5330. More: http://fxbazooka.com/en/analitycs/show/6744

Forex Analytics Forex trading plan for October 14 Kira Iukhtenko [Video] [/Video] Weak China trade data lowered the risk appetite on Tuesday, putting the commodity currencies under pressure. On Wednesday, we will be watching China’s CPI and US retail sales and PPI. These events could deepen the slowdown on the financial markets. AUD/USD is forming an engulfing candle on the daily chart. A daily close below 0.7270 will confirm the end of the early-October rally. We recommend selling the Australian dollar in this case. EUR/USD remains sustainable despite the drop of risk appetite. We concede a spike towards the 1.1500 resistance in the coming sessions. After that, the pair could enter a consolidative phase. GBP/USD was the main driver of the session, falling by more than 100 pips on weak UK CPI. Drop below 1.5330 was a bearish signal. We expect the pair to float to the 1.5160 support in the coming sessions. Recovery above 1.5330 is needed to negate the new bearish move. More: http://fxbazooka.com/en/analitycs/show/6731

Forex Analytics Danske Bank: trade signals for October 13 Trade positions of Danske Bank: not so many changed from Monday. Open positions:* EUR/USD: Hold LONG from 1.1320, TAKE PROFIT 1.1561, STOP LOSS 1.1230 USD/JPY: Hold LONG from 120.10, TAKE PROFIT 121.33, STOP LOSS 119.55 EUR/CHF: Hold LONG from 1.0910, TAKE PROFIT 1.1186, STOP LOSS 1.0865 EUR/GBP: Hold LONG from 0.7375, TAKE PROFIT 0.7501, STOP LOSS 0.7300 EUR/JPY:Hold LONG from 136.05, TAKE PROFIT 137.61, STOP LOSS 135.03 GBP/JPY: Hold LONG from 183.10, TAKE PROFIT 187.37, STOP LOSS 182.95 NZD/USD: Hold LONG from 0.6480, TAKE PROFIT 0.6815, STOP LOSS 0.6530 USD/CAD: Hold SHORTfrom 1.3030, TAKE PROFIT 1.2862, STOP LOSS 1.3081 Trade ideas: GBP/USD: BUY at 1.5275, TAKE PROFIT 1.5449, STOP LOSS 1.5210 USD/CHF: SELL at 0.9660, TAKE PROFIT 0.9482, STOP LOSS 0.9741 AUD/USD: BUY at 0.7218, TAKE PROFIT 0.7497, STOP LOSS 0.7140 EUR/CAD: SHORT stopped, possibly sell ________________________________________________________________ *Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/6725

Forex Analytics Aussie at new heights 13 October 2015 Tatiana Norkina, FBS analyst The AUD/USD currency pair formed a new extremum for the past month yesterday. Due to quite agressive actions of the bulls the currency pair rate has soared under the 74th figure, breaking the last week's high of 0.7340. Bullish sentiment persists in the market, but this morning, we are witnessing the rate's decline into the Tenkan-Kijun channel. Obviously, the market needs a little rest to resume the uptrend. Testing of the Kijun-sen line levels is probable to be followed by the pair's new dash to the 0.7430/40 mark. Technical levels: support – 0.7270; resistance – 0.7380, 0.7400. Trade recommendations: 1. Buy — 0.7280; SL — 0.7260; TP1 — 0.7400; TP2 — 0.7430. More: http://fxbazooka.com/en/analitycs/show/6718

Forex Analytics Yen strengthening 13 October 2015 Tatiana Norkina, FBS analyst The USD/JPY currency pair ended up again next to the four-hour Ichimoku cloud during yesterday's trading session. The bears are increasing pressure and trying to break the cloud downwards, which is why, the Senkou Span A and B lines cannot reinforce its bullish character. More to that, the pair has gotten into the negative zone this morning, which could affect further trading since consolidation under the cloud may mean the end of the bulls' attempts to recover the market. Technical levels: support – 119.60; resistance – 120.00. Trade recommendations: off the market. More: http://fxbazooka.com/en/analitycs/show/6719

Forex Analytics Forex trading plan for October 13 By Elizabeth Belugina On Monday there were some hawkish comments from the Fed’s member Lockhart, but with the US banks on holiday and the market being tired of guessing about the timing of the Fed’s rate hike the greenback didn’t react. On Tuesday there won’t be much of the news from America. The advance of EUR/USD has paused ahead of 1.1400. Germany will release economic sentiment figures at 09:00 GMT (negative forecast). Support is at 1.1350, 1.1318 and 1.1280. Further resistance us at 1.1460. Pound is approaching resistance levels, but has some room for growth. GBP/USD has once again risen above the 200-day MA at 1.5320. As long as cable is above this point, it has a chance to rise to resistance is at 1.5380 ahead of 1.5435. The UK will release September inflation data at 08:30 GMT. Later in the day, there will be comments from the Bank of England’s officials. Support is at 1.5320 and then at 1.5278 and 1.5250. USD/JPY was trading in the 120.15 area. In the absence of news from the United States and Japan the pair will be driven by the market’s risk sentiment. Lower than expected Chinese trade balance will bring it to 119.70 and probably to 119.25. Resistance is at 120.90/121.00. AUD/USD rose to the top of the daily Ichimoku Cloud and the 100-day MA in the 0.7370 area. The pair has almost reached 38.2% Fibo of the decline since May and is overbought. The publication of China’s trade balance data is a risk for a bullish Aussie. Support is at 0.7275 and 0.7200. Resistance is at 0.7385 and 0.7440. More: http://fxbazooka.com/en/analitycs/show/6717

Forex Analytics Danske Bank: trade signals for October 12 Open positions:* EUR/USD: Hold LONG from 1.1320, TAKE PROFIT 1.1561, STOP LOSS 1.1230 USD/JPY: Hold LONG from 120.10, TAKE PROFIT 121.33, STOP LOSS 119.55 EUR/CHF: Hold LONG from 1.0910, TAKE PROFIT 1.1186, STOP LOSS 1.0865 EUR/CAD: Hold SHORT from 1.4735, TAKE PROFIT 1.4387, STOP LOSS 1.4765 (revised) EUR/GBP:Hold LONG from 0.7375, TAKE PROFIT 0.7501, STOP LOSS 0.7300 GBP/JPY:Hold LONG from 183.10, TAKE PROFIT 187.37, STOP LOSS 182.95 NZD/USD:Hold LONG from 0.6480, TAKE PROFIT 0.6815, STOP LOSS 0.6530 USD/CAD:Hold SHORTfrom 1.3030, TAKE PROFIT 1.2862, STOP LOSS 1.3081 (revised) Trade ideas: GBP/USD: BUY at 1.5275, TAKE PROFIT 1.5449, STOP LOSS 1.5210 USD/CHF: SELL at 0.9660, TAKE PROFIT 0.9482, STOP LOSS 0.9741 AUD/USD: BUY at 0.7218, TAKE PROFIT 0.7497, STOP LOSS 0.7140 EUR/JPY: BUY at 136.05, TAKE PROFIT 137.61, STOP LOSS 135.03 ________________________________________________________________ *Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/6707

Forex Analytics EUR/USD: weekly wave analysis 11 October 2015 Daily. The market keeps moving within the final part of a complicated corrective wave (4). The pair has to form the final part – коррекцию [Z] of y of (4). H4. It seems that the wave [X] took form of the converging horizontal triangle. After this triangle was formed, the bulls have immediately started to push the prices up. The uptrend will likely continue at the new week. More: http://fxbazooka.com/en/analitycs/show/6695

Forex Analytics GBP/USD: weekly wave analysis 11 October 2015 Daily. After finishing the bullish correction wave , which took form of a triple three, we saw the beginning of a new downtrend [C]. In the coming weeks the pair will likely decline. H4. The final part of the upside Zigzag 2 is ending. At the beginning of the week this wave will be over, and we will see a decline in the impulse wave 3. More: http://fxbazooka.com/en/analitycs/show/6696

Forex Analytics USD/JPY: weekly wave analysis 11 October 2015 Weekly. The market keeps forming the multiyear uptrend. The pair is currently forming corrective wave (IV), let us review its inner structure. H4. At the new week, we expect formation of the final part of the converging horizontal triangle [iv], after which we’ll see collapse of price or its slow decline. The approximate scheme of the upcoming move is shown on the chart. More: http://fxbazooka.com/en/analitycs/show/6697

Forex Analytics AUD/USD: weekly wave analysis 11 October 2015 Daily. In line with the forecast, the formation of the downward impulse wave A was completed. At the final part, we see the beginning of correction. H4. As expected, we saw a powerful movement within the [c]. The pair will likely continue rising at the new week. We don’t recommend to go short for now as the pair may be going higher and higher. More: http://fxbazooka.com/en/analitycs/show/6698

Forex Analytics GBP/USD: forecast for October 12-18 Kira Iukhtenko UK currency jumped by almost 300 pips since early October. The major reason is the weakness of the US currency and technical conditions. The cable reached our target of 1.5330. However, bearish BOE comments on Thursday paused the rally. Cable is trading in a medium-term bearish channel formed in June. Fix above 1.5330 will open the way to our next targets at 1.5500 and 1.5580. In the current volatile market conditions, our targets could be hit in the coming days. Break above 1.5500 will confirm the trend reversal. On Tuesday, we’ll be watching the UK inflation figures. It is expected to stay around zero. On Wednesday, we’ll be watching the labor market figures. UK employment has been showing positive dynamics as of late. Chart 1. GBP/USD Daily Chart 2. GBP/USD H4 More: http://fxbazooka.com/en/analitycs/show/6691

Forex Analytics USD/JPY: forecast for October 12-18 By Elizaveta Belugina USD/JPY has spent another week trading sideways. This time the range has narrowed to 120.60/119.60. The pair lacks drivers to move out of the current corridor. The upside is limited as the Bank of Japan (BOJ) didn’t announce additional monetary stimulus at its October 7thmeeting, so yen didn’t weaken. Moreover, the minutes of the Federal Reserve’s September meeting confirmed the central bank’s concerns about the global economic slowdown and the fact it is in no rush to raise interest rates. At the same time, the downside is also limited, because many investors still believe that the BOJ will ease policy further at its October 30th meeting. In addition, despite the weak September nonfarm payrolls (NFP), the expectations of the Fed rate hike this year are still alive. These are the factors, which are keeping USD/JPY in range. A breakthrough will come only if dollar/yen closes above 121.50 or below 118.50. In our view, the possibility of a breakthrough next week isn’t very high. First of all, Japanese economic calendar looks rather empty. The most important event will be the release of the BOJ meeting minutes on Tuesday, but we don’t think that it will be a market mover. The US will publish several important pieces of data from Wednesday to Friday. These releases can push USD/JPY to the edges of the range, but unless we get some really big surprises they won’t change the market’s overall view on the Fed. Daily USD/JPY One thing we should mention, however, that USD/JPY still correlates with the market’s risk sentiment. Risk sentiment will be affected by Chinese economic statistics – trade balance on Tuesday and inflation on Wednesday. As few expect robust figures from China, growth in USD/JPY will likely be limited ahead of these releases. Also note that both in the United States and in Japan there will be bank holidays on Monday, so USD/JPY can make volatile moves on relatively small events like the speeches of the FOMC officials. More: http://fxbazooka.com/en/analitycs/show/6693

Forex Analytics EUR/USD: forecast for October 12-18 By Elizabeth Belugina The past week turned out to be positive for the euro. Despite the weak production data from Germany and the dovish tone of September ECB meeting minutes, the euro held its ground and managed to rise above the August-September resistance line and test levels above 1.13. US dollar didn’t have much strength over the euro, as the data from the United States weren’t very bright either, plus the Federal Reserve’s September meeting minutes indicated that American central bank is concerned about the weak global economic growth and is not in a hurry to raise the interest rate. Weak NFP released a weak earlier also contributed to the lower expectations of the Fed’s rate hike. Next week there won’t be a lot of news from the euro area. Pay attention to Germany’s ZEW economic sentiment on Tuesday and the region’s final September inflation figures on Friday. US economic calendar is more filled with important events like the publication of retail sales data on Wednesday and inflation figures on Friday. In addition, beware of Chinese trade balance on Tuesday and inflation on Wednesday: for now the single currency keeps strengthening on lower figures of China. As a result, the balance of risks for EUR/USD in the near-term is to the upside. Initial resistance is at 1.1350 (the top of the short-term rising channel) and a fix above this level will open the way to 1.1400 and 1.1460 (September high/resistance since May 2014). The area of 1.1460/1.1500 will likely limit the upside of EUR/USD ahead of the ECB’s meeting on October 22 as the European Central Bank doesn’t want higher euro and can make some announcements about the additional quantitative easing (QE) which will hit the single currency. Support is at 1.1250 and 1.1170. Daily EUR/USD More: http://fxbazooka.com/en/analitycs/show/6694

Forex Analytics US Dollar: forecast for October 12-18 Kira Iukhtenko The Fed’s rate hike timing remains the most important topic for the currency traders. FOMC meeting minutes released last week disappointed. The members discussed the increased economic risks, not the need for a rate hike. Combination of the “dovish” minutes with the weak September labor market data killed the demand for the US currency. Chances for a rate hike this year are gradually declining. On the new week, on Wednesday, we will watch September retail sales figures. According to the forecasts, data could render temporarily support for the US currency. However, the rally is unlikely to last long: CPI on Thursday is expected to show price growth slowdown. What’s more, US companies are to release Q3 earnings on October 8-22. Data will give a clue to the US economic activity and set a new trend for risk sentiment. More: http://fxbazooka.com/en/analitycs/show/6688

Forex Analytics Forex trading plan for October 9 The trading plan for Friday, October 9, was prepared and released before the end of the US trading session on Thursday, October 8. Traders await the release of the Federal Reserve’s September meeting minutes at 18:00 GMT on Thursday, so the volatility for Thursday isn’t over at this point. Market players want more hints about the timing of the Fed’s rate hike. Still, after the weak NFP figures for September, the impact of the minutes will likely be limited. Also note that some FOMC members will speak in the coming sessions: Williams, Lockhart and Evans. All these policymakers are doves, so their comments could be negative for USD. EUR/USD tested levels above 1.1300, but then slipped to 1.1250 as the minutes of the European Central Bank’s September meeting showed that the ECB sees increased downside risks for inflation and thus leaves open door for further monetary stimulus. We still see 1.1330 as an important obstacle on the upside before we can see growth towards 1.1460. Euro will probably stay capped, though downside potential is limited. Support is at 1.1215 and 1.1170. GBP/USD spiked to 1.5370, but then returned below the 200-day MA at 1.5320. The Bank of England left monetary policy unchanged. As expected, only 1 member of the Monetary Policy Committee voted to raise the benchmark interest rate, while other 8 said that it should remain at the current level of 0.5%. The central bank’s meeting minutes were dovish as the regulator expressed concerns about global growth and British inflation. Note that the Bank of England’s Governor Carney speaks at 18:00 GMT on Thursday. On Friday the UK will release trade balance at 08:30 GMT. A close below 1.5320 on Thursday will be bearish. Support is at 1.5240 and 1.5170. A close above 1.5320 will open the way to 1.5440 (55-day MA). USD/JPY moved towards the lower edge of the ongoing consolidation pattern weakening to the 119.60 area, but found support there. Sideways trade will persist until we see a very clear signal of a break of either 121.50 or 118.50. For now, if you are trading this pair, use range trading strategies. AUD/USD ran into the resistance of the daily Ichimoku Cloud in the 0.7200 area. Australia will release home loans early on Friday (forecast is positive). Resistance is at 0.7275 and 0.7300. Support is at 0.7085. More: http://fxbazooka.com/en/analitycs/show/6681