Market news and trade recommendations by FBS

[riki143]

Forex Analytics

Trading plan for August 27

Kira Iukhtenko

Policy stimulus launched by the Bank of China on Tuesday failed to support the Shanghai Composite (-1.3% on Wednesday). However, the overall market sentiment improved with the Brent price pausing its losses.

US Dollar index is seen recovering for a second day in a row and won back the sharp “black Monday” losses. However, it still fails to close above the 95 points resistance. US releases strong durable goods data on Wednesday, but the market reaction was muted. The market is still cautious about buying the greenback.

On Thursday, don’t miss the US Q2 GDP second estimate (forecast - upbeat) and the unemployment claims figures. Jackson Hole symposium starts tomorrow – comments on the global economy will likely follow.

EUR/USD remains under bearish pressure. The pair will be driven by the risk sentiment these days. The pair pulled back from the 55-week MA and the weekly Ichimoku. Fix below 1.1500 will open the way for a rapid slide to 1.1200.

GBP/USD also gave up ground, falling below 1.5700. The pair is testing 38.2% Fibo at 1.5570 as we speak. Bearish target -1.5520 (trend support).

USD/JPY behaves a bit differently: it’s far from recovering to the Monday’s opening levels. Resistance lies at 120.00/30. Support – 118.50 and 116.00. According to the Japanese government, yen is far from being expensive these days.

Commodity currencies remain a sell. Tomorrow we’ll be watching Australia private capital expenditure (a decline is expected). Data could easily pull AUD/USD down below 0.7100.

More:
http://fxbazooka.com/en/analitycs/show/6221

 

[riki143]

Forex Analytics

GBP/USD: forecast for Aug 31-Sept 6

Kira Iukhtenko

GBP/USD surge above 1.5700 turned out to be a fake breakout – the pair lost more than 300 pips by the end of the week. A strong bearish candle is being formed on the weekly chart (SELL signal). The cable broke the trendline connecting the May-August lows to the downside.

Weekly close below 1.5450 will become a strong signals for the sellers. Next levels to watch are 1.5330 и 1.5170. They are expected to be reached in the coming days. Recovery above 1.5500 is needed to revive the buying demand.

Next week we’ll watch the UK August PMI indices. Monday is a bank holiday – volatility could increase on a thin market. Weak US data and a new wave of Asian market selloff is a risk to our bearish view, however.

More:
http://fxbazooka.com/en/analitycs/show/6241

 

[riki143]

Forex Analytics

EUR/USD: forecast for Aug 31-Sept 6

By Elizaveta Belugina

EUR/USD spiked to 1.1700 during the Black Monday reaching the conversion are of several important resistances. As the market was in great stress, the low-yielding euro was used as a safe haven. Then, however, global risk sentiment improved and the pair reversed to the downside sliding below 1.1300. Data released in the euro area in the past week as usual were mixed.

In Greece political deadlock was temporary resolved as a caretaker prime minister was appointed. Vassiliki Thanou, an opponent of austerity measures, will lead the country to September elections. It’s the first time Prime Minister position in Greece is occupied by a woman.

The main event of the coming week for the euro will be the European Central Bank’s meeting on Thursday. There are many reasons for the ECB to show a dovish tone: inflation expectations in the euro area have fallen, oil prices have hit 6-year lows, while the euro’s exchange rate has become generally higher. Taking into account concerns about China’s economy and markets, the ECB’s President Mario Draghi will likely point out downside risks to European economy. Draghi will likely hint at the possibility of extending quantitative easing (QE) beyond September 2016. Comments like this will be negative for EUR/USD. Traders should also pay attention to the euro area’s flash August inflation figures on Monday as this release will be watched by the ECB.

Although we expect the ECB meeting to be a bearish factor for the euro, be aware of the fact that the market’s risk sentiment and the stock markets haven’t stabilized. This can make the single currency swing to the upside. As a result, one has to be prepared for volatile trading.

The technical picture for the euro looks bearish. A shooting start will the long upper shadow is ready to form on the weekly chart. Moreover, the pair returned below 200-day MA. Support is at 1.1150, 1.0950, 1.0850 and 1.0800. A bunch of resistance levels is located at 1.1380, 1.1430 and 1.1500 ahead of 1.1700.

EUR/USD, Daily

More:
http://fxbazooka.com/en/analitycs/show/6245

 

[riki143]

Forex Analytics

USD/JPY: forecast for Aug 31-Sept 6

By Elizabeth Belugina

USD/JPY hit 116.15, the lowest level since the beginning of January, on Black Monday. Then as the market’s risk sentiment improved the pair returned to the previous support line of 2015 in the 121.50 area. Another positive factor for the US currency was the upward revision of America’s Q2 GDP growth.

As yen strengthened at the beginning of the past week, we got comments from Japanese officials that the move was too “rough”. Taking into account the risks from China, Japan’s monetary authorities will not want national currency to strengthen much further. As a result, they will likely step in with verbal interventions if the bears once again try to pull the pair to 116.00. In addition, there are rumors that Japan’s giant public pension fund (GPIF) is aggressively buying foreign assets to support USD/JPY.

Meanwhile, Japanese inflation data came out subdued. National core CPI was flat in July after rising by 0.2% in June. The more timely Tokyo CPI measure declined by 0.1% in August. It will be difficult for the Bank of Japan to achieve its 2% inflation target without further monetary stimulus. However, no such measures are expected within the next month

Japanese core inflation, %

Next week traders will focus on the US economic releases and especially non-farm payrolls (NFP) due on Friday. In Japanese economic calendar, we see some less important releases. All in all, although the market’s sentiment may improve, the uncertainty about China and the US Federal Reserve’s policy will remain limiting USD/JPY on the upside.

On its way up the greenback will have to overcome resistance at 121.50, 122.25, 123.10 and 124.50. Support is located at 119.60 and 118.30/00.

Daily, USD/JPY

More:
http://fxbazooka.com/en/analitycs/show/6244

 

[riki143]

Forex Analytics

US Dollar: forecast for Aug 31-Sept 6

Kira Iukhtenko

The Fed’s members have become much more dovish in their words after the last week’s market turmoil. However, demand for the US dollar recovered by the end of the week as the US data confirmed the ongoing recovery.

The chance of a rate hike in September went down last week, but it can’t completely written off. Anyway, the market continues pricing in a policy change in 2015.

We expect the US currency to strengthen over the next week. From the technical viewpoint, US Dollar index is forming a bearish triangle on a bullish market – sign of a mid-term trend continuation. Weekly candle with a long lower shadow confirms our short-term bullish view.

US data next week will be in the center of the market attention ahead of the September 17 meeting. Watch the August PMI indices. Most expected day of the week is Friday with its August labor market figures. The NFP release is expected to support the USD demand.

More:
http://fxbazooka.com/en/analitycs/show/6239

 

[riki143]

MARKET NEWS

Key currency options
31 August 2015

FXBAZOOKA.com - Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (15:00 GMT).

Here are the key options expiring today:

EUR/USD: 1.0900 (4.75bn), 1.1000 (610m), 1.1150, 1.1165, 1.1175, 1.1190, 1.1200 (781m), 1.1235, 1.1250, 1.1270, 1.1300, 1.1350, 1.1375, 1.1400, 1.1410, 1.1415 (511m), 1.1500 (646m)

USD/JPY: 118.90, 119.00, 119.75, 119.80, 120.00, 120.40, 120.50, 122.65

AUD/USD: 0.7250

NZD/USD: 0.6585, 0.6600 (2.3bn), 0.6750 (976m)

EUR/JPY: 132.00 (526m), 136.00, 137.00 (1.35bn)

USD/CAD: 1.3200

More:
http://fxbazooka.com/en/news/show/3514

 

[riki143]

Forex Analytics

Danske Bank: trade signals for Aug 31

Open positions:*

EUR/USD: Hold SHORT from 1.1252, TAKE PROFIT 1.1017, STOP LOSS 1.1317

USD/JPY: Hold SHORT from 121.15, TAKE PROFIT 118.26, STOP LOSS 122.15

USD/CHF: Hold LONG from 0.9580, TAKE PROFIT 0.9799, STOP LOSS 0.9495

AUD/USD: Hold SHORT from 0.7215, TAKE PROFIT 0.6954, STOP LOSS 0.7220

USD/CAD: Hold LONG from 1.3055, TAKE PROFIT 1.3400 (revised), STOP LOSS 1.3140 (revised)

EUR/JPY: Hold SHORT from 138.05, TAKE PROFIT 134.33 (revised), STOP LOSS 137.65 (revised)

EUR/GBP: Hold LONG from 0.7300, TAKE PROFIT 0.7483, STOP LOSS 0.7215

NZD/USD: Hold SHORT from 0.6540, TAKE PROFIT 0.6342, STOP LOSS 0.6635

Trade ideas:

EUR/CHF: SELL at 1.0815, TAKE PROFIT 1.0638, STOP LOSS 1.0895

GBP/JPY: SELL at 188.50, TAKE PROFIT 180.96, STOP LOSS 191.74

EUR/CAD: Possibly BUY

GBP/USD: Possibly SELL

________________________________________________________

 

[riki143]

Forex Analytics

Forex trading plan for Sept 1

Kira Iukhtenko

We expect the US Dollar to strenghten this week ahead of the labor market data on Friday (forecasts are upbeat). Given this view, EUR/USD is a SELL these days with a target of 1.0950. Technical picture confirms the ideas as the pair pulled back from the 55-week MA, forming a long-legged red candle last week. Watch the unemployment rate in the euro area tomorrow.

GBP/USD also looks bearish this week, but the doji candle formed last Friday creates room for a bullish pullback. We recommend selling on rallies to 1.5480 (former trend support), targeting 1.5330. Watch the UK Manufacturing PMI tomorrow.

As for AUD/USD, the pair is trading in the red ahead of the RBA meeting on Tuesday. No rate cut is expected, so the pair could get temporary support from this side. This would become a good point to sell on rallies. Don't miss China's PMI indices on Tuesday - data could become a negative surprise for the commodity currencies.



More:
http://fxbazooka.com/en/analitycs/show/6272

 

[riki143]

Forex Analytics

Danske Bank: trade signals for Sept 1

Open positions:*

EUR/USD: Hold SHORT at 1.1252, TAKE PROFIT 1.1017, STOP LOSS 1.1317

USD/JPY: Hold SHORT at 121.15, TAKE PROFIT 118.26, STOP LOSS 122.15

EUR/JPY: Hold SHORT at 138.05, TAKE PROFIT 134.33 (revised), STOP LOSS 137.65 (revised)

EUR/GBP: Hold LONG at 0.7300, TAKE PROFIT 0.7483, STOP LOSS 0.7215

USD/CHF: Hold LONG at 0.9580, TAKE PROFIT 0.9799, STOP LOSS 0.9495

AUD/USD: Hold SHORT at 0.7215, TAKE PROFIT 0.6954, STOP LOSS 0.7220

Trade ideas:

EUR/CHF: SELL at 1.0815, TAKE PROFIT 1.0638, STOP LOSS 1.0895

GBP/JPY: SELL at 188.50, TAKE PROFIT 180.96, STOP LOSS 191.74

EUR/CAD: Possibly BUY

GBP/USD: Possibly SELL

________________________________________________________________________

 

[riki143]

Forex Analytics

GBP/AUD: buy target - 2.2000
1 September 2015

By: Dmitriy Chernovolov

-GBP/AUD reversed from support zone
-Next buy target - 2.2000

GBP/AUD recently reversed up sharply from the combined support zone lying at the intersection of the support level 2.1400 (former resistance level which reversed the previous impulse wave 1 in July), the support trendline of the daily up channel from May and the 61.8% Fibonacci Correction of the previous sharp minor impulse wave (i). The upward reversal from this support zone completed the latest minor correction (ii).

GBP/AUD is expected to rise further in the active impulse waves (iii) and 3 toward the next buy target at the resistance level 2.2000. Buy stop-loss can be placed below the aforementioned support level 2.1400.

More:
http://fxbazooka.com/en/analitycs/show/6281

 

[riki143]

Forex Analytics

Forex trading plan for September 2

By Elizabeth Belugina

The market’s risk sentiment remains unstable. Worse than expected manufacturing data from China on Tuesday morning once again provoked decline in stocks increasing demand for safe-haven euro and yen. US ISM manufacturing PMI came out lower than expected (51.1 vs. 52.6 forecast). This is the lowest reading since August 2013.

At the beginning of this week, traders were once again considering the possibility of the Federal Reserve’s rate hike. Note that the expectations of the market are very data-dependent. Watch the upcoming releases: weaker figures will hurt USD. On Wednesday, traders will be watching ADP non-farm employment change (12:15 GMT): it is believed that this labor market indicator provides hints for more important non-farm payrolls (NFP) due on Friday.

EUR/USD rose, but failed to fix above the 200-day MA. Support is at 1.1200, 1.1150 and 1.1100 (key level) ahead of 1.1017. Resistance is at 1.1300, 1.1330 and 1.1380/1.1400. Advance of the single currency will likely be limited ahead of the European Central Bank’s meeting on Thursday.

GBP/USD is trying to hold above 1.5300 after it closed below the 200-day MA on Monday (1.5365). This level is now acting as resistance together with 1.5410/00. British manufacturing PMI was slightly lower than expected. Britain will release construction PMI at 08:30 GMT. Support is 1.5245, 1.5200 and 1.5170.

USD/JPY reversed down from 121.50 and slid to support at 119.60. Further support is at 118.90 and 118.30. As the uncertainty about the Fed’s policy remains, advance of the pair will be limited.

AUD/USD was testing levels below 0.7100. The Reserve Bank of Australia left the benchmark interest rate unchanged at 2%. On Wednesday Australia will release Q2 GDP data. The nation’s economic growth is expected to slow down from 0.9% to 0.4%. Support is at 0.7000 (psychological level), 0.6989 (April 28 2009 low) and 0.7200. Resistance is at 0.7100 and 0.7150.

More:
http://fxbazooka.com/en/analitycs/show/6288

 

[riki143]

Forex Analytics

Danske Bank: trade signals for Sept 2

Open positions:*

USD/JPY: Hold SHORT at 121.15, TAKE PROFIT 118.26, STOP LOSS 121.30

USD/CHF: Hold LONG at 0.9580, TAKE PROFIT 0.9799, STOP LOSS 0.9495

AUD/USD: Hold SHORT at 0.7215, TAKE PROFIT 0.6771, STOP LOSS 0.7164

EUR/JPY: Hold SHORT at 138.05, TAKE PROFIT 133.31, STOP LOSS 136.65

EUR/GBP: Hold LONG at 0.7300, TAKE PROFIT 0.7483, STOP LOSS 0.7215

EUR/CHF: Hold SHORT at 1.0815, TAKE PROFIT 1.0638, STOP LOSS 1.0895

Trade ideas:

NZD/USD: SELL at 0.6405, TAKE PROFIT 0.6092, STOP LOSS 0.6519

EUR/USD: Possibly SELL

GBP/USD: Possibly SELL

USD/CAD: Possibly BUY

EUR/CAD: Possibly BUY

GBP/JPY: Possibly SELL

________________________________________________________________

 

[riki143]

Forex Analytics

Trading plan for September 3

Kira Iukhtenko

US Dollar index consolidates slightly below the 96 points mark on Wednesday. Weak ADP NFP was ignored by the market. It seems that the expectations for the strong official figures on Friday will be supporting the greenback until the end of the week. As for Thursday, watch the US trade balance and unemployment claims.

EUR/USD continues its slow decline, approaching the 1.1200 figure. The ECB meeting on Thursday is creating bearish expectations: Mario Draghi could on a QE program extension. We stay bearish below 1.1320 with a target of 1.1150.

GBP/USD trades at 3-month lows after having slipped below 1.5300. The next target is seen at 1.5170. Watch the UK Services PMI on Thursday – a downbeat surprise could trigger a massive selloff.

USD/JPY is trying to offset the Tuesday losses, but remains unstable. China markets will be closed on Thursday and on Friday – the pair could get some support out of there. Next resistance lies at 120.40, support – at 118.50.

AUD/USD consolidates around the trend support. The pair failed to fix below 0.7000 for now. However, data on Thursday could create a new wave of selling: watch the Australia retail sales and trade balance. Resistance is seen at 0.7070.

More:
http://fxbazooka.com/en/analitycs/show/6303

 

[riki143]

Forex Analytics

Forex trading plan for September 4

By Elizabeth Belugina



On Friday, traders will be focused on the release of the US nonfarm payrolls data (NFP) at 12:30 GMT as it’s the key publication ahead of the Federal Reserve’s September 17 meeting. This publication will determine dollar’s dynamics in all major pairs. According to the forecast, American economy added 217K jobs in August. As there have been many concerns about China so far, a reading above 200K is needed to keep the greenback from declining. A reading above 220K will make the greenback strengthen – the bigger the figure is, the higher USD will get. A reading between 200K and 220K may cause some volatility, but won’t clarity the Fed’s position. Ahead of the release trading should be quiet and in narrow ranges as many players will avoid new positions.

EUR/USD fell on Thursday because of the dovish comments of the European Central Bank. The ECB lowered inflation and growth forecasts and increased issue share limit: the central bank may now hold 33% of a bond issue vs. 25% earlier. The pair met support of the 100-day MA in the 1.1100 area.

GBP/USD continues declining hitting the next target at 1.5245 (50% of the April-June advance). Further support is at 1.5200 and 1.5170/50. Resistance is at 1.5330, 1.5360 and 1.5400.

USD/JPY is facing resistance of the 50% Fibo of the August decline and 200-day MA (120.70/77). It seems like the pair’s under bearish pressure below this area. Further resistance is in the 121.70 zone. Support is at 119.60 and 119.30.

AUD/USD is trying to hold above the psychological level of 0.7000. After weak GDP came weak retail sales. The pair is oversold and there is bullish divergence on H4. Still, no big moves are expected until the NFP release. Resistance is at 0.7060, 0.7100 and 0.7128. Support is at 0.6950 and 0.6900.

More:
http://fxbazooka.com/en/analitycs/show/6314

 

[riki143]

Forex Analytics

Forex trading plan for September 4

By Elizabeth Belugina



On Friday, traders will be focused on the release of the US nonfarm payrolls data (NFP) at 12:30 GMT as it’s the key publication ahead of the Federal Reserve’s September 17 meeting. This publication will determine dollar’s dynamics in all major pairs. According to the forecast, American economy added 217K jobs in August. As there have been many concerns about China so far, a reading above 200K is needed to keep the greenback from declining. A reading above 220K will make the greenback strengthen – the bigger the figure is, the higher USD will get. A reading between 200K and 220K may cause some volatility, but won’t clarity the Fed’s position. Ahead of the release trading should be quiet and in narrow ranges as many players will avoid new positions.

EUR/USD fell on Thursday because of the dovish comments of the European Central Bank. The ECB lowered inflation and growth forecasts and increased issue share limit: the central bank may now hold 33% of a bond issue vs. 25% earlier. The pair met support of the 100-day MA in the 1.1100 area.

GBP/USD continues declining hitting the next target at 1.5245 (50% of the April-June advance). Further support is at 1.5200 and 1.5170/50. Resistance is at 1.5330, 1.5360 and 1.5400.

USD/JPY is facing resistance of the 50% Fibo of the August decline and 200-day MA (120.70/77). It seems like the pair’s under bearish pressure below this area. Further resistance is in the 121.70 zone. Support is at 119.60 and 119.30.

AUD/USD is trying to hold above the psychological level of 0.7000. After weak GDP came weak retail sales. The pair is oversold and there is bullish divergence on H4. Still, no big moves are expected until the NFP release. Resistance is at 0.7060, 0.7100 and 0.7128. Support is at 0.6950 and 0.6900.

More:
http://fxbazooka.com/en/analitycs/show/6314

 

[riki143]

Forex Analytics

EUR/USD: forecast for September 7-13

By Elizaveta Belugina

During the past week, EUR/USD didn’t renew high. On the contrary, most time the bias was negative because of the expectations of the dovish European Central Bank. The ECB’s didn’t disappoint the bears. The regulator left monetary policy unchanged, but warned about the negative risks coming from emerging markets and lowered the euro area’s growth and inflation forecasts. President Mario Draghi said that currency union might slip into deflation in the coming months.

It now looks very likely that the ECB’s current quantitative easing program (QE) will last longer than September 2016. The central bank made some technical adjustments to QE, which will allow it to be more flexible and buy as much bonds as necessary. Overall, we can say that the ECB is dovish, but not aggressively so.

The euro area’s economic calendar for the next week is not very full. There will be industrial production figures from Germany and France, the regions’ revised GDP and the informal meeting of the European finance ministers. There may be some headlines ahead of the Greek election due on September 20 as for now no political party gets the majority in parliament that creates political risks.

Still, it may be a relatively quiet week, which precedes the Federal Reserve’s meeting and elections in Greece. If we look at the American side of the things, we may see that mixed labor market data didn’t bring any clarity about what to expect from the Fed this month. So, no clear trends should come from here.

Note, however, that next week China can once again draw the market’s attention: the nation will release trade balance on Tuesday and inflation on Thursday. Don’t forget that lower-than-expected figures may spike demand for the euro as a safe haven.

Technical picture. Support is at 1.0900. Resistance is at 1.1280, 1.1436 (June 18 high) and 1.1467 (May 15 high). The euro is vulnerable for more declines against Japanese yen.

Chart. Daily EUR/USD

More:
http://fxbazooka.com/en/analitycs/show/6325

 

[riki143]

Forex Analytics

GBP/USD: forecast for September 7-13

KIra Iukhtenko

British pound extended the decline on the past week, hitting the lowest levels since June. The latest news from the United Kingdom disappoint. Services sector PMI fell to a 2-year low, confirming the UK companies are trouble by the global crisis. Expectations for the BOE rate hike in 2015 declined.

On the new week, we’ll be watching the June manufacturing production figures. Bank of England is scheduled to meet on Thursday. No rate hike is expected. What’s more, we could hear some dovish comments this time.

As for the technical viewpoint, the cable is trying to fix below 50% Fibonacci from the April-June uptrend and broke below the 1.5200 round figure. Strong resistance is seen at 1.5330, while the 1.5170 mark still remains a hurdle. Break below would open the way to 1.5000.

More:
http://fxbazooka.com/en/analitycs/show/6321

 

[riki143]

Forex Analytics

USD/JPY: forecast for September 7-13

By Elizabeth Belugina

After topping in the 121.70 area USD/JPY made another top in the 120.70 region. Demand for the yen as a safe haven limited the pair on the upside provoked a selloff to the 119.00 area.

As for the drivers from America, we should note that US nonfarm payrolls data weren’t very high coming below 200K. This might be the negative seasonal factors in play. Still, American unemployment rate declined and average earnings rose. Such mixed release means that the debate on whether US economy is in a good enough shape for the Federal Reserve to raise interest rates in September will surely continue in the coming week.

Next week Japan will release current account and final GDP on Tuesday and some manufacturing data on Thursday and Friday. Japanese economic growth is unlikely to be revised to the upside. All in all, the speculation about the Fed’s rate hike timing and the markets risk sentiment will be the key themes for the market. The situation of risk aversion will likely continue as money is flowing out of China. Pay attention to the release of Chinese trade balance on Tuesday and inflation on Thursday.

Technical picture. USD/JPY has strong resistance levels at 120.70, 121.70 and 122.00 – levels, which will be hard for the bulls to get through. Support is in the 118.30/00. Below that there should be buying interest from Japanese companies. Next support is at 116.00.

Chart. Daily USD/JPY

More:
http://fxbazooka.com/en/analitycs/show/6326

 

[riki143]

Forex Analytics

US Dollar: forecast for September 7-13

Kira Iukhtenko

US labor market data came out mixed on Friday. Non-farm payrolls rose by 173K in August (below the forecast). However, jobless rate declined to the lowest in 7 years and the average hourly earnings increased. Overall, the employment data didn’t hurt the positive image of the US economic dynamics.

On the new week, we expect the US Dollar to extend the upside gradually. Next bullish targets for the USD index lie at 97 and 98.50 points. We still remain long on the greenback versus the commodity block currencies.

Economic calendar for the new week is rather light. On Monday, the US markets will be closed due to the Labor Day. On Thursday, we’ll watch the unemployment claims, while on Friday the market will focus on PPI. Investors are gradually positioning ahead of the Fed’s September 17 meeting.

More:
http://fxbazooka.com/en/analitycs/show/6324

 

[riki143]

Forex Analytics

EUR/USD: weekly wave analysis
7 September 2015

Roman Petuchov

Daily. Bearish trend [C] is now being developped. Complex corrective wave (4) has been finished recently. We're now declining in a new bearish impulse (5). Price decline in this wave will likely continue in the coming weeks.

H4. Correction [2] could be accomplished on the past week. On the new week we expect the bearish move to the South to be extended.

More:
http://fxbazooka.com/en/analitycs/show/6336