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Forex Analytics Large banks: positioning on EUR/USD Danske Bank: SELL LIMIT at 1.0655, TAKE PROFIT 1.0432, STOP LOSS 1.0727 (set on Mar. 17) Credit Suisse holds SHORT from 1.0560, TAKE PROFIT 1.0000, STOP LOSS 1.0684 (entered on Mar. 16) Morgan Stanley holds SHORT from 1.0650, TAKE PROFIT 1.0000, STOP LOSS 1.0750 (entered on Mar. 12) Citi Bank holds SHORT from 1.1368, TAKE PROFIT 1.0000, STOP LOSS 1.1690 (entered on Feb. 6) Citi Bank holds SHORT from 1.1430, TAKE PROFIT 1.0400, STOP LOSS 1.1710 (entered on Feb. 3) JPMorgan holds SHORT from 1.1250, TAKE PROFIT 1.0100, STOP LOSS 1.1700 (entered on Jan. 26) Danske Bank holds SHORT from 1.1578, TAKE PROFIT 1.0000, STOP LOSS 1.1000 (entered on Jan. 20) More: http://fxbazooka.com/en/analitycs/show/4131

Forex Analytics Danske Bank: trade signals for Mar. 17 Open positions*: USD/JPY: Hold LONG at 118.90, TAKE PROFIT 122.62, STOP LOSS 120.59 GBP/USD: Hold SHORT at 1.4810, TAKE PROFIT 1.4646, STOP LOSS 1.4900 USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 1.0295, STOP LOSS 0.9908 EUR/GBP: Hold SHORT at 0.7170, TAKE PROFIT 0.6961, STOP LOSS 0.7245 EUR/CHF: Hold SHORT at 1.0605, TAKE PROFIT 1.0414, STOP LOSS 1.0685 USD/CAD: Hold LONG at 1.2495, TAKE PROFIT 1.2865, STOP LOSS 1.2596 GBP/JPY: Hold SHORT at 180.00, TAKE PROFIT 176.75, STOP LOSS 180.80 NZD/USD: Hold LONG at 0.7365, TAKE PROFIT 0.7515, STOP LOSS 0.7265 Trade ideas: EUR/USD: SELL at 1.0655, TAKE PROFIT 1.0432, STOP LOSS 1.0727 EUR/JPY: SELL at 129.20, TAKE PROFIT 125.72, STOP LOSS 130.20 AUD/USD: SELL at 0.7790, TAKE PROFIT 0.7451, STOP LOSS 0.7865 EUR/CAD: SELL AT 1.3735, TAKE PROFIT 1.3230, STOP LOSS 1.3835 ___________________________________________________________ *Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/4129

Forex Analytics Forex trading plan for Mar .17 By Kira Iukhtenko US dollar is trading under slight bearish pressure following the last week’s rally. Markets remain cautious ahead of the Federal Reserve policy decision on Wednesday. The Fed is widely expected to change its forward guidance, opening the way for a rate hike in June. At the same time they will likely sound concerned by the deflationary threat hovering above the economy. We expect the US dollar to remain supported at least before the meeting. EUR/USD recovered towards 1.0600 on Monday. On Tuesday pay attention to the ZEW economic sentiment indices in Germany and euro zone – forecasts are upbeat. There is a high chance of a bullish correction in EUR/USD, resistance is seen at 1.0650 and 1.0700. GBP/USD rebounded to 1.4800 after hitting 1.4700 on Friday. Wednesday will likely be a volatile day for the cable: UK labor data, annual budget and meeting minutes in the European session and the Fed’s announcement in the US session. USD/JPY holds below the last week’s peak of 122 yen and is forming a short-term triangle that will likely be broken to the upside this week. BOJ will hold its policy meeting tonight – no changes in policy are expected now. Commodity currencies are also in demand: AUD/USD recovered to 0.7650, NZD/USD – to 0.7390. RBA is scheduled to release meeting minutes tonight at 00:30 GMT. We’ll see whether there are hints on a rate cut in the coming meetings or not. More: http://fxbazooka.com/en/analitycs/show/4123

Forex Analytics Large banks: what to expect from the Fed? 16 March 2015 FOMC policy announcement, economic projections and statement will be released at 18:00 GMT on Wednesday, March 18. Press conference from Janet Yellen will follow at 18:30 GMT. What do analysts at large banks expect from the meeting? CIBC: The Fed will likely drop its pledge to stay patient. However, the sentence will likely be replaced by an emphasis on being 'data dependent'. Softness in recent growth indicators will be mentioned. What’s more, the Fed will cite reasons to limit pace of hikes - rising USD and yields falling overseas. Market reaction to the meeting will be muted. Deutsche Bank: FOMC is expected to change its forward guidance language so as to allow the Committee the flexibility to raise interest rates sometime around the middle of this year (possibly in June). Fed’s economic projections should indicate a more confident outlook for the labor market, highlight disinflationary risks. During the press conference Yellen will likely elaborate on the FOMC's rationale for beginning the process of policy normalization. Barclays: The Fed is expected to drop "patience" from its statement at the March meeting. However, the statement will likely introduce downside risk to inflation from a stronger USD. As a result, markets will believe that June rate hikes are off the table and will see the USD rally paused. Goldman Sachs: The normalization of US monetary policy is a powerful force for EUR/USD lower looking ahead. More: http://fxbazooka.com/en/analitycs/show/4119

Forex Analytics Danske Bank: trade signals for Mar. 16 Open positions: EUR/USD: Hold SHORT at 1.0521, TAKE PROFIT 1.0400, STOP LOSS 1.0593 USD/JPY: Hold LONG at 118.90, TAKE PROFIT 122.62, STOP LOSS 120.59 USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 1.0295, STOP LOSS 0.9908 (revised) USD/CAD: Hold LONG at 1.2495, TAKE PROFIT 1.2865, STOP LOSS 1.2596 (revised) EUR/GBP: Hold SHORT at 0.7170, TAKE PROFIT 0.6961, STOP LOSS 0.7245 NZD/USD: Hold LONG at 0.7365, TAKE PROFIT 0.7515, STOP LOSS 0.7265 Trade ideas: GBP/USD: SELL at 1.4810, TAKE PROFIT 1.4646, STOP LOSS 1.4900 AUD/USD: SELL at 0.7790, TAKE PROFIT 0.7451, STOP LOSS 0.7865 EUR/JPY: Look to SELL EUR/CHF: SELL AT 1.0605, TAKE PROFIT 1.0414, STOP LOSS 1.0685 EUR/CAD: Look to SELL GBP/JPY: SELL AT 180.00, TAKE PROFIT 176.75, STOP LOSS 180.80 More: http://fxbazooka.com/en/analitycs/show/4107

Forex Analytics EUR/USD: bearish sentiment prevails By Elizaveta Belugina The euro area is now frequently compared with Japan. Last year the Bank of Japan has launched an enormous monetary stimulus program in order to encourage inflation. This made investors buy Japanese shares and sell the yen. The same can be now seen in Europe. The ECB has started its more than 1-trillion-euro QE on March 9. Bond yields in many countries of the euro area fell close to the record lows. As a result, European investors are going elsewhere for higher returns. Low interest rates made the region’s stock market surge. However, foreign investors sell the euro in order to hedge their European assets. The supply of the single currency is increasing because of the QE, while the demand for it remains week. As a result, it hit 12-year lows against the greenback. Analysts revised down their forecasts for EUR/USD targeting parity and lower. The pair will likely remain under pressure. 3 negative factors are affecting the euro: low oil prices, the ECB’s QE and the expectations of the US Federal Reserve’s rate hike this summer. Although the currency is oversold and there’s an ever-present risk of a short covering rally, the key is now the market’s sentiment, and that is quite bearish. EUR/USD made it down from above 1.0800 to 1.0500. Correction towards 1.0700 on Thursday allowed traders to take profit. If support at 1.0500 fails, the euro will fall to 1.0200. In the short-term resistance will be limited by 1.0830 and 1.1090. Our recommendation is still to sell on correction up or on the break of the support. Given the fast speed of decline and the upcoming Fed’s meeting on Wednesday, we’ll probably see some consolidation in EUR/USD, especially in the first half of the week. Pay attention to the release of the euro area’s and German economic sentiment figures on Tuesday and the ECB’s new tranche of TLTRO for the euro area’s banks on Thursday. More: http://fxbazooka.com/en/analitycs/show/4092

Forex Analytics US Dollar awaits the next week’s Fed By Kira Iukhtenko The past week has become very successful for the US currency with the US dollar index breaking above 100 points for the first time since 2003. Demand for the greenback was pushed up by the increased expectations of the Fed’s rate hike in mid-2015. On the new week the US economic calendar is full of important releases, but the most important event is the Fed’s policy meeting on March 17-18. There is a high chance that the Fed excludes its pledge to stay “patient” in monetary policy from its forward guidance. If it happens, FOMC will theoretically open the way for a rate hike in June. The US dollar will stay in demand ahead of the meeting. The US labor market data supports the hawkish expectations, but price growth remains weak. US consumer prices have never reached the Fed’s target of 2% over the past 3 years, while in 2015 monthly CPI turned negative. We’ll see how the Fed appraises the current economic conditions: it will also release renewed projections on Wednesday. More: http://fxbazooka.com/en/analitycs/show/4084

Forex Analytics Forex trading plan for March 13 US dollar corrected down on Thursday versus the major currencies as America released weaker than expected retail sales figures (-0.6% vs. the forecast of +0.3%). Another month of contraction in the retail sales could raise serious doubts regarding the positive effect of weak energy prices. The unemployment claims, however, were better – lower – than expected. On Friday America will release producer prices and consumer sentiment data. EUR/USD tested levels below 1.0500, but then corrected up to 1.0680. Resistance is at 1.0700 and 1.0830. However, the general market’s sentiment about the euro remains bearish. Support is at 1.0560 and 1.0500. GBP/USD recovered almost to 1.5030, but met resistance there. The risks are to the downside. Support is at 1.4915 and 1.4813. Bank of England's Governor Mark Carney sounded a bit dovish saying that low global CPI and strong pound may weigh on UK prices for some time. USD/JPY may have formed a temporary top and can slide to the 120.00/119.70 area. Resistance is at 121.65 and 122.00. AUD/USD will face resistance at 0.7800 and looks set to print 0.7500. More: http://fxbazooka.com/en/analitycs/show/4077

Forex Analytics EUR/NZD: next sell target 12 March 2015 By Dima Chernovolov • EUR/NZD broke multiple support levels • Next sell target - 1.4200 EUR/NZD has been under strong bearish pressure recently after the pair reversed down from the resistance zone located between the resistance level 1.4800 and the 38.2% Fibonacci Correction of the previous sharp downward impulse from the end of February. The subsequent sharp downward price thrust broke through multiple support levels – 1.4600, 1.4510 (which was set as the sell target in our previous report for this pair), the support trendline of the wide weekly down channel from last year, the round support level 1.4500 – and more recently it broke the support level 1.4400. EUR/NZD is expected to fall further in the active minor impulse 3 toward the next sell target 1.4200. Sell stop-loss can be placed above the resistance level 1.4400. More: http://fxbazooka.com/en/analitycs/show/4066

Forex Analytics EUR/AUD: trade idea 12 March 2015 By Dima Chernovolov - EUR/AUD reached sell targets 1.4200 and 1.4000 - Next sell target - 1.3700 EUR/AUD has been falling sharply in the last few trading sessions – breaking below two support levels 1.4200 and 1.4000 (low of previous A-wave) - both of which were set in our earlier report as the sell targets for this currency pair. Each of these breakouts added to the bearish pressure on this pair – accelerating the downward momentum and helping the price approach the next major support level 1.3800 – near which the pair is trading at the current moment. This support level earlier reversed the sharp downward impulse in September of 2014 (as you can see below). If EUR/AUD breaks the support level 1.3800, the price can be expected to fall further to the next sell target 1.3700 (target price for the completion of the intermediate ABC wave (2) from the middle of last December). More: http://fxbazooka.com/en/analitycs/show/4065

Forex Analytics Danske Bank: trade signals for Mar. 12 Open positions:* EUR/USD: Hold SHORT at 1.0660, TAKE PROFIT 1.0432, STOP LOSS 1.0668 (revised) USD/JPY: Hold LONG at 118.90, TAKE PROFIT 122.62, STOP LOSS 120.59 (revised) EUR/CHF: Hold LONG at 1.0685, TAKE PROFIT 1.0900, STOP LOSS 1.0605 USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 1.0295, STOP LOSS 0.9908 (revised) AUD/USD: Hold SHORT at 0.7828, TAKE PROFIT 0.7451, STOP LOSS 0.7718 USD/CAD: Hold LONG at 1.2495, TAKE PROFIT 1.2865, STOP LOSS 1.2596 (revised) Trade ideas: GBP/USD: SELL at 1.5020, TAKE PROFIT 1.4814, STOP LOSS 1.5100 EUR/JPY: SELL EUR/GBP: SELL GBP/JPY: SELL EUR/CAD: SELL on rallies _____________________________________________________________ *Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/4055

Forex Analytics Forex trading plan for March 12 EUR/USD is hurt by the falling bond yields in the euro area because of the ECB’s QE. The 1.0560 area may offer some support. Corrections will face resistance at 1.0650. Further support is at 1.0500. Data from the US due on Thursday (retails sales, unemployment claims) is expected to improve. This could increase pressure on the euro. USD/JPY has formed a doji with a long upper shadow on Tuesday unable to close above the psychological level of 122.00 which is now acting as resistance ahead of 124.00. Negative risk sentiment is holding the bulls. Decline below 120.80 will make the pair fall to 120.00 and probably to 119.40. GBP/USD is affected by the news about the decline in the UK manufacturing & industrial production. Pound is vulnerable for decline to long-term support in the 1.4815 area. The level of 1.5030 will now form resistance. Watch for comments from the Bank of England’s Governor Mark Carney: in his recent speeches he tended to reassure the markets. AUD/USD eyes 0.7500 – the bears would like to touch this level. Resistance is in the 0.7720/00 area. Watch Australian labor market data release during the Asian session. More: http://fxbazooka.com/en/analitycs/show/4049

Forex Analytics EUR/CAD: sell targets 11 March 2015 By Dima Chernovolov • EUR/CAD reached sell targets 1.3900 and 1.3800 • Next sell targets - 1.3500 and 1.3400 EUR/CAD has been falling strongly in the last few trading sessions – following the breakout of the support zone located between the support levels 1.3900 and 1.3800 (both of these levels were set as the sell targets in our previous report for this currency pair). The breakout of this support zone accelerated the downward momentum – helping the price break the support trendline of the daily down channel from March of 2014 – which further accelerated the downward movement (as you can see below). EUR/CAD is expected to fall further in the active minor impulse 3 (which belongs to the 3rd intermediate impulse (3) from the end of January) toward the next sell targets – 1.3500 and 1.3400 (target price for the termination of impulse wave 3). More: http://fxbazooka.com/en/analitycs/show/4042

Forex Analytics AUD/USD: trade idea 11 March 2015 By Dima Chernovolov - AUD/USD reached sell target 0.7640 - Next sell target - 0.7500 AUD/USD has been falling sharply in the last few trading sessions – breaking the support level 0.7640, which was set as the sell target in our previous report for this currency pair. The breakout of this support level was preceded by the breakout of the daily up channel from the start of February (which has enclosed the preceding intermediate ABC correction (4)). The breakout of this up channel accelerated the active intermediate impulse wave (5) from last month. AUD/USD is expected to fall further in the active impulse wave (5) to the next sell target 0.7500 (intersecting with the support trendline of the wide daily down channel from last month). Sell stop-loss can be placed one daily ATR above the broken price level 0.7640. More: http://fxbazooka.com/en/analitycs/show/4041

Forex Analytics Danske Bank: trade signals for Mar. 11 Open positions:* USD/JPY: Hold LONG at 118.90, TAKE PROFIT 122.62, STOP LOSS 120.59 (revised) GBP/USD: SHORT at 1.5100, TAKE PROFIT 1.4952; STOP LOSS 1.5205 USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 1.0042, STOP LOSS 0.9719 AUD/USD: Hold SHORT at 0.7828, TAKE PROFIT 0.7451, STOP LOSS 0.7761 USD/CAD: Hold LONG at 1.2495, TAKE PROFIT 1.2800, STOP LOSS 1.2560 (revised) EUR/CHF: Hold LONG at 1.0685, TAKE PROFIT 1.0900, STOP LOSS 1.0605 GBP/JPY: Hold LONG at 183.00, TAKE PROFIT 185.05, STOP LOSS 182.00 Trade ideas: EUR/USD: Look for the opportunities to SELL EUR/JPY: Look for the opportunities to SELL in the 130.60/70 area EUR/GBP: SELL on the rallies EUR/CAD: SELL at 1.3705, TAKE PROFIT 1.3425, STOP LOSS 1.3840 NZD/USD: SELL at 0.7320, TAKE PROFIT 0.7120, STOP LOSS 0.7365 (revised) _______________________________________________________________ *Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/4037

Forex Analytics Forex trading plan for Mar. 11 By Kira Iukhtenko Demand for the greenback keeps on rising after the strong US labor market data released on Friday. However, we have to note that the US dollar longs contacted on a week that ended on March 3. Large players have some doubts about the USD rally sustainability. Watch the retail sales figures on Thursday – we could see growth after two months in the negative territory. EUR/USD is trading at the 2003 lows (1.0720 as we write). The ECB’s QE program has finally been launched yesterday. The ECB Governor Mario Draghi is scheduled to speak tomorrow in Frankfurt. GBP/USD attempted to recover after a sharp selloff on Friday, but faced resistance at 1.5130. Next levels to watch below the price are 1.5030, 1.5000 and 1.4950. Watch the UK manufacturing data (forecast: + 0.2%, prior: +0.1%) and the NIESR GDP estimate on Wednesday. EUR/GBP fell to its lowest level since December 2007. USD/JPY pushed to a new high of 122 yen on Tuesday – this is the lowest level since summer 2007. Japan is scheduled to release core machinery orders tonight (forecast – downbeat). Commodity currencies are also doomed for a decline. Aussie dollar holds around the 5-year lows below the 0.7700 mark, while NZD/USD dipped below 0.7250. Watch industrial production data in Chana tomorrow – growth is expected to have slowed from 7.9% to 7.7%. RBNZ will announce its monetary policy decision tonight – some economists forecast a rate cut. More: http://fxbazooka.com/en/analitycs/show/4032

Forex Analytics Large banks: positioning on EUR/USD 10 March 2015 Credit Suisse: SELL LIMIT from 1.0985, TAKE PROFIT 1.0620, STOP LOSS 1.1115 (entered on March 9) BofA Merrill holds SHORT from 1.1290, TAKE PROFIT 1.0765, STOP LOSS 1.1275 (entered on February 24) Morgan Stanley holds SHORT from 1.1370, TAKE PROFIT 1.0700, STOP LOSS 1.1000 (entered on February 12) Citi holds SHORT from 1.1368, TAKE PROFIT 1.0000, STOP LOSS 1.1690 (entered on February 6) Citi holds SHORT from 1.1430, TAKE PROFIT 1.0400, STOP LOSS 1.1710 (entered on February 3) Crédit Agricole holds SHORT from 1.1340, TAKE PROFIT 1.0600, STOP LOSS 1.1680 (entered on January 28) JP Morgan holds SHORT from 1.1250, TAKE PROFIT 1.0100, STOP LOSS 1.1700 (entered on January 26) Danske Bank holds SHORT from 1.1578, TAKE PROFIT 1.0500, STOP LOSS 1.1540 (entered on January 20) More: http://fxbazooka.com/en/analitycs/show/4019

Forex Analytics Danske Bank: trade signals for Mar. 10 Open positions:* USD/JPY: Hold LONG at 118.90, TAKE PROFIT 122.62, STOP LOSS 120.23 (revised) USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 1.0042, STOP LOSS 0.9719 (revised) AUD/USD: Hold SHORT at 0.7828, TAKE PROFIT 0.7451, STOP LOSS 0.7761 (revised) USD/CAD: Hold LONG at 1.2495, TAKE PROFIT 1.2800, STOP LOSS 1.2499 (revised) EUR/JPY: Hold SHORT at 134.18, TAKE PROFIT 130.16, STOP LOSS 132.05 (revised) EUR/GBP: Hold SHORT at 0.7272, TAKE PROFIT 0.7114, STOP LOSS 0.7290 EUR/CHF: Hold LONG at 1.0685, TAKE PROFIT 1.0900, STOP LOSS 1.0605 Trade ideas: EUR/USD: Possibly SELL GBP/USD: SELL at 1.5185, TAKE PROFIT 1.4952, STOP LOSS 1.5225 (revised) EUR/CAD: SELL at 1.3740, TAKE PROFIT 1.3505, STOP LOSS 1.3840 GBP/JPY: BUY at 182.55, TAKE PROFIT 185.05, STOP LOSS 181.85 NZD/USD: SELL at 0.7365, TAKE PROFIT 0.7215, STOP LOSS 0.7435 _______________________________________________________________ *Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/4015

Forex Analytics Trading plan for Mar. 10 On Monday EUR/USD has retraced 38.2% of Friday’s decline, but met resistance around 1.0900. There’s bullish divergence on the daily chart and the euro looks oversold. However, the market’s sentiment about the euro is still negative, so corrections up will likely be shallow. Resistance is at 1.0925, 1.0950 and 1.1000 and the euro is to be sold on rallies. Support lies at 1.0800, 1.0760 (Sept. 2003 low) and 1.0558 (April 2003 low). Markets are looking forwards to the news from Greece which so far isn’t inspiring. Greece Finance Minister Yanis Varoufakis said that the nation could be forced into fresh elections or a referendum if euro zone finance ministers reject its plans to ease austerity. The head of European Commission Juncker and Greek Prime Minister Tsipras will meet on Friday. USD/JPY is now using previous resistance at 120.50 as support. Further support is at 119.80. Japanese economic growth was revised to the downside. On the upside the next target is at 121.85. Buying on the dips is the strategy. AUD/USD hovers around its 6-year lows of 0.7720, testing the 200-month MA to the downside. The pair awaits another bearish impulse to speed the downside up. Next support will be seen at 0.7630/00. Tonight watch the NAB Business Confidence figures in Australia. What’s more, China will publish inflation figures tonight – producer prices will likely stay in their deep zero. GBP/USD has recovered some ground on Monday, but holds below the 1.5100 mark following the sharp selloff on Friday. Technical picture turned clearly bearish as the pair closed the past week below 1.5200. Support lies at 1.5030/00 and 1.4950. On Tuesday the BOE Governor Carney will hold a speech at 14:35 GMT in London. More: http://fxbazooka.com/en/analitycs/show/4010

Forex Analytics USD/CAD: waiting for a rate cut 9 March 2015 By Kira Iukhtenko Canada’s export-oriented economy suffered from the sharp fall in crude oil prices seen in 2014. Annualized Q4 economic growth was above the forecast (+2.4% versus 2% expected), but we have strong doubts that growth will remain so strong in Q1: the effect from lower oil prices hasn’t filtered through the economy yet. GDP growth was driven mostly by inventories. It means that production goes on, but demand for the goods is down. The country posted its largest trade deficit since 2012 in January. Source: http://www.tradingeconomics.com In this environment we expect another Bank of Canada rate cut to follow in the coming months. Regulator left interest rates unchanged in March at 0.75% after cutting by 0.25% in February. Clearly, the BOC monetary policy will depend on the energy markets. According to the most recent Goldman Sachs forecast, crude prices will remain under pressure in spring on the back increased supply. Dovish BOC expectations contrast with the hawkish Federal Reserve: the US central bank is likely to deliver a rate hike in summer 2015. From the technical viewpoint, USD/CAD faced resistance at 1.2626 – this is the upper border of the medium-term bullish triangle. The current pullback is a good time to buy the pair on dips around 1.2550, targeting 1.2800 and 1.3000. Chart. Daily USD/CAD More: http://fxbazooka.com/en/analitycs/show/4006

Forex Analytics USD/JPY: buy target 9 March 2015 By Dima Chernovolov • USD/JPY reached buy target 120.500 • Next buy target - 121.70 USD/JPY last weekly broke above the resistance level 120.500 (which stopped previous minor impulse 1) that was set as the buy target in our previous report for this currency pair. The breakout of this resistance level accelerated the active minor impulse wave 3 of the 5th intermediate impulse (5) from the middle of December (as you can see from the daily USD/JPY chart below). This minor impulse started when the pair reversed up from the support zone surrounding the support level 118.50. Having recently closed above the resistance level 120.50, USD/JPY can be expected to rise further to the next buy target at 121.70 (previous major resistance level which stopped the sharp intermediate impulse wave (3) last December). Buys top-loss can be placed below 120.50. More: http://fxbazooka.com/en/analitycs/show/3999

Forex Analytics EUR/USD: trade idea 9 March 2015 By Dima Chernovolov EUR/USD reached sell target 1.1000 Next sell target - 1.0800 EUR/USD has been falling sharply in the last few trading sessions – breaking below the support level 1.1000, which was set in our previous report as the sell target for this currency pair. The breakout of this support level intensified the bearish pressure on EUR/USD – leading to the sharp sell-off helping the price approach the next major support level 1.0800 (as you can see from the daily EUR/USD chart below). Considering the strength of the support zone near 1.0800 and given that the daily RSI and the daily Stochastic indicators have both reached the oversold area, EUR/USD can be expected to correct up in the nearest time toward the former support level 1.1000. EUR/USD is likely to reverse down from 1.1000 toward the next sell target 1.0800. More: http://fxbazooka.com/en/analitycs/show/3997

Forex Analytics Danske Bank: trade signals for Mar. 9 Open positions:* USD/JPY: Hold LONG at 118.90, TAKE PROFIT 122.44, STOP LOSS 119.55 (revised) USD/CHF: Hold LONG at 0.8755, TAKE PROFIT 1.0000, STOP LOSS 0.9645 (revised) AUD/USD: Hold SHORT at 0.7828, TAKE PROFIT 0.7627, STOP LOSS 0.7805 (revised) EUR/JPY: Hold SHORT at 134.18, TAKE PROFIT 130.16, STOP LOSS 132.05 (revised) EUR/GBP: Hold SHORT at 0.7272, TAKE PROFIT 0.7114, STOP LOSS 0.7290 (revised) EUR/CHF: Hold LONG at 1.0685, TAKE PROFIT 1.0900, STOP LOSS 1.0605 Trade ideas: EUR/USD: SELL at 1.0888, TAKE PROFIT 1.0763/49 GBP/USD: SELL AT 1.5145, TAKE PROFIT 1.4952, STOP LOSS 1.5225 (revised) EUR/CAD: SELL at 1.3740, TAKE PROFIT 1.3505, STOP LOSS 1.3840 NZD/USD: SELL at 0.7420, TAKE PROFIT 0.7215, STOP LOSS 0.7480 GBP/JPY: SELL on rallies _____________________________________________________________ *Danske Bank applies trailing stop orders (moved together with the price) More: http://fxbazooka.com/en/analitycs/show/3992

Forex Analytics EUR/USD: outlook remains negative By Elizaveta Belugina EUR/USD has fallen to the new minimums. However, as the net short positions on the euro remain extremely big, the ever-present risk of correction up remains high. The new week in the euro area will be light on the economic data. On March 9 the Eurogroup meeting will take place. Greece will be on the agenda. A couple of weeks ago the euro zone finance ministers approved a 4-month extension of the Greek bailout program and the initial list of reform which the nation has to conduct in return. On Monday Greece is expected to present the details of these reforms. According to the head of the Eurogroup, Athens can get 7.2 billion euro remaining in its bailout as early as this month if the Greek government starts adopting necessary reforms. Greece is now in a very difficult position as it has to make large debt repayments in March and has practically no cash. If it looks like the nation will get money rather sooner than later, the impact on the euro will be bullish. Also on Monday the ECB will start its large-scale quantitative easing program, so divergence in monetary policy between the US and the euro area will remain one of the main themes. The ECB will purchase bonds with negative yields, and this should dispel concerns that it won’t be able to achieve its balance sheet target. At the same time, while the ECB lowered 2015 inflation forecast justifying QE, its president Mario Draghi predicted improvements in the euro area’s economy and said that the central bank’s actions do bring positive results. This should make the market feel a bit better about the euro. Although EUR/USD is much oversold, it went below 1.1210 (61.8% Fibo of the advance in 2000-2008). Resistance in the 1.1260/70 area is expected to be strong. Support is at 1.08 and 1.05. More: http://fxbazooka.com/en/analitycs/show/3974

Forex Analytics US Dollar: what to expect on the new week? 6 March 2015 By Kira Iukhtenko As we expected, on the past week the US currency returned to growth. The US dollar index hit new 11-year highs. Even the dollar/Swiss franc pair pushed to the levels, unseen since Jan. 15. The US currency remains supported by the Fed’s rate hike expectations. Visual illustration prepared by Wall Street Journal: more than 50% of economists surveyed expect a rate hike in Q2 2015, while another 40% - in Q3 2015. Economic calendar for the new week is not so busy, but we expect the bullish trend in USD to persist. Watch the US retail sales data on Thursday. On Friday the market will focus on the Producer price index. In January the index fell at a fastest pace in 5 years (-0.8%). New negative reading would be the only threat for the current sustainable USD rally. More: http://fxbazooka.com/en/analitycs/show/3969