FBS Daily Analytics, News and Promotion

[riki143]

GBP/USD: POUND IN NEGATIVE AREA
06:02 13.02.2018

Technical levels: support – 1.3770; resistance – 1.3870.

Trade recommendations:

Sell — 1.3860/70; SL — 1.3900; TP1 — 1.3770; TP2 — 1.3680.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen; the prices are entered into negative area.

 

[riki143]

XAU/USD: GOLD IS IN THE DEAD ZONE
07:19 13.02.2018

Recommendation:

SELL $1,3320 SL $1,3470 TP1 $1,3060 TP2 $1,2920 TP3 $1,2730

SELL $1,3430 SL $1,3580 TP1 $1,3060 TP2 $1,2920 TP3 $1,2730

On the daily chart of XAU/USD, bulls manage to hold off an enemy attack at the $1,306-1,308.50 support. Another test of this area in case of success will increase the possibility of a pullback to $1273 and lower. The condition necessary for the uptrend’s resumption is a convincing break of resistance at $1350 an ounce.

On H1, much will depend on bulls’ ability to lead the pair outside of descending channel.

 

[riki143]

GBP/USD: BEARISH "PENNANT"
10:19 14.02.2018

There's a bearish "Pennant", so the pair is likely going to achieve the nearest support at 1.3741. Meanwhile, if a pullback from this level happens afterwards, bulls will probably try to reach the next resistance at 1.3895 - 1.3944.

The market is consolidating between the Moving Averages. The main intraday target is the closest support at 1.3763 - 1.3741. This area could be a departure point for a bullish price movement in the direction of another resistance at 1.3895 - 1.3944.

 

[riki143]

EUR/USD: "TRIPLE BOTTOM" PATTERN
10:17 14.02.2018

The main trend is still bullish. Also, there's a "Triple Bottom" pattern, which has been confirmed. So, the market is likely going to test the nearest resistance at 1.2405 - 1.2434 in the short term.

There's a confirmed "Double Top" pattern, so the market is likely going to reach the 89 Moving Average in the coming hours. If a pullback from this line happens little later on, there'll be an opportunity to have another upward price movement.

 

[riki143]

USD/JPY: YEN CRASHES OBSTACLES
07:00 15.02.2018

Recommendation:

SELL 107.40 SL 107.95 TP1 106.40 TP2 105.35 TP3 102.80

SELL 108.05 SL 108.60 TP1 107.00 TP2 106.4 TP3 105.35

On the daily chart, USD/JPY bears managed to lead the pair out of the long-term consolidation range of 107.35-115.35. As a result, it triggered AB=CD pattern with targets at 127.2% and 161.8%.

On the daily chart, bears are in total control of the pair. In such conditions, pullbacks should be used for selling. The nearest resistance levels are at 107.30-107.45, 107.90-108.05 and 108.40-108.50.

 

[riki143]

EUR/JPY: EURO IS GRABBING FOR A PIN BAR
06:51 15.02.2018

Recommendation:

BUY 133.40

SL 132.85

TP1 134.40 TP2 135.40

On the daily chart, EUR/JPY reached 88.6% target of a “Shark” pattern. As a result, risks of a pullback increased. A pin bar increases the risks of a correction. Its high forms resistance at 133.40. To continue the decline to 113% target of the “Shark” patterns, bears need to pull the euro to February low.

On H1, EUR/JPY formed two bars with lower bottom wicks. It means that bulls are ready to counterattack. They want to trigger a “Shark” pattern with a target of 88.6%.

 

[riki143]

USD/JPY BROKE SUPPORT ZONE
09:27 16.02.2018

- USD/JPY broke support zone
- Next sell target - 105.50

USD/JPY continues to fall sharply after the earlier breakout of the support zone lying between the support levels 108.30 (which stopped the previous minor impulse wave 3 at the end of January) and 107.30 (low of the previous impulse wave (A)). The breakout of this support zone accelerated the active minor impulse wave (iii). USD/JPY is expected to fall further toward the sell target at the next support level 105.50 (target for the completion of the impulse wave (iii)).

 

[riki143]

WEEKLY FOREX OUTLOOK: FEB. 19 - 23
12:55 16.02.2018

[youtube]qh873mMyBzQ[/youtube]

The recovery of the US dollar turned out to be brief.

Investors are worried about the US twin deficits – current account deficit and budget deficit. There are forecasts that the budget deficit will rise to $1 trillion in 2019 because of increased spending and tax cuts. In addition, many traders think that American authorities want the USD to be weak. The prospect of more Federal Reserve’s rate hikes doesn’t provide much support to the greenback anymore as other countries start to scale back their easy monetary policy. The USD no longer has an advantage. Even stronger-than-expected consumer inflation figures didn’t help. To sum up, the outlook for the US currency is still negative.

USD/JPY fell to the lowest levels since the end of 2016. The level of 105.00 is a psychologically important support. The lower USD/JPY gets, the more nervous Japanese authorities will become. So far, their comments have been mild, but if the pair keeps rapidly falling they may decide to intervene.

EUR/USD continues the uptrend, although it got overbought. Resistance is in the 1.2600 area. Support is at 1.2415 and 1.2310. As for GBP/USD, if it rises above 1.4160, the next target will be at 1.4350.

Most important events in the economic calendar for the upcoming days include the release of European PMI, UK labor market figures and the Fed’s meeting minutes on Wednesday;

the second estimate of British GDP and Canada’s and New Zealand’s retail sales on Thursday and Canada’s CPI on Friday. The Bank of England’s Governor Carney will testify on inflation and the economic outlook in Parliament on Wednesday.

Asian markets will be shut for Lunar New Year holidays until Thursday. US banks will also be closed on Monday because of Presidents’ Day.

 

[riki143]

AUD/USD IS TIRED OF A CAGE
07:30 19.02.2018

Recommendations:

SELL 0.7895 SL 0.795 TP 0.7795

BUY 0.7985 SL 0.793 TP1 0.8055 TP2 0.8095 TP3 0.8185

On the daily chart of AUD/USD, bulls didn’t manage to overcome an important resistance level of 0.7985. As a result, the pair consolidated in the 0.7895-0.7985 area. When the pair gets out of this range, this will determine the further fate of the Aussie.

On H1, a break of support at 0.7895 will trigger the “Shark” pattern with a target at 88.6%. On the other hand, successful test of resistance at 0.7985 will increase the risks of a rally. Don’t exclude the possibility of a “Widening wedge”.

 

[riki143]

USD/JPY: PRICE REACHED 21 MOVING AVERAGE
12:09 20.02.2018

There's a bullish "Harami", which has been confirmed, so the price reached the 21 Moving Average. However, there's no any bearish pattern, so the pair is likely going to test the 89 MA.

The price has been rising since a "Harami" formed at the last local low. If the 55 Moving Average acts as support, there'll be an opportunity to have another bullish price movement.

 

[riki143]

EUR/USD: BEARISH "HARAMI" PATTERN
12:08 20.02.2018

The last bearish "Harami" led to the current upward price movement. There's no any reversal pattern so far, which means the pair is likely going to continue moving down in the short term.

All the Moving Averages have been broken, so the market is moving down towards the lower "Window". If any reversal pattern forms little later on, we could have an upward correction.

 

[riki143]

USD/JPY: BEARISH "ENGULFING"
14:17 21.02.2018

There's a bearish "Engulfing", which has been formed on the upper "Window". So, we're likely going to have a local bearish correction. Anyway, bulls will probably try to reach the next "Window" afterwards.

We've got bearish patterns such a "Tower" and a "Shooting Star". Therefore, the market is likely going to decline in the short term.

 

[riki143]

EUR/USD: "MORNING DOJI STAR"
14:15 21.02.2018

There's a bullish "Harami" at the last low, so the market is likely going to test the Moving Averages. If a pullback from these lines happens little later on, we could have another decline.

We've got a "Morning Doji Star", so the pair is likely going to reach the 55 & 89 Moving Averages. If these lines act as resistance, we should keep an eye on the lower "Window" as the next bearish target.

 

[riki143]

USD/JPY: "WINDOW" ACTED AS RESISTANCE
11:55 22.02.2018

The upper "Window" acted as resistance, so there's an "Engulfing" pattern. In this case, we're likely going to have a bearish correction in the short term. Nevertheless, bulls will probably try to test the "Window" once again afterwards.

The price has reached the 55 Moving Average, but there's still no any reversal pattern. So, the pair is likely going to continue moving down in the coming hours in the direction of the next support area.

 

[riki143]

EUR/USD: BULLISH "HARAMI"
11:47 22.02.2018

There's a bullish "Hammer", which hasn't been confirmed yet. Therefore, the price is likely going to test the 55 Moving Average, which could act as resistance. If so, there'll be an opportunity to have another decline.

We've got a bullish "Harami" at the last low, but confirmation of this pattern isn't enough. So, we could have just a local upward correction towards the Moving Averages in the short term.

 

[riki143]

USD/JPY: MOVING AVERAGES ACTING AS RESISTANCE
14:05 23.02.2018

We've got a bullish "Hammer", which hasn't been confirmed yet. So, the price is likely going to test the closest support once again. Nevertheless, bulls will probably try to reach the 55 Moving Average afterwards.

All the Moving Averages are acting as resistance. Also, there's a confirmed bullish "Harami", so we could have a local decline. At the same time, there's an opportunity to have a new local high afterwards.

 

[riki143]

USD/CAD ANALYSIS: CORRECTIVE PHASE ONGOING
14:58 26.02.2018

[youtube]aJ4dxxR3G1g[/youtube]

 

[riki143]

USD/JPY: 21 & 34 MA ACTED AS RESISTANCE
12:11 26.02.2018

The 21 & 34 Moving Averages have acted as resistance, but there's still no any reversal pattern. So, the pair is likely going to test the 21 MA once again. If a pullback from this line happens little later on, there'll be an opportunity to have another bearish price movement.

There's a bullish "Hammer", which has been confirmed enough, so the market is likely going to test the 21 Moving Average. If this line acts as resistance, bears will probably try to break the last low.

 

[riki143]

USD/JPY: BULLISH "HIGH WAVE"
13:33 01.03.2018

The last "Evening Star" is still on the table, so the price is likely going to continue declining. Meanwhile, if a pullback from the nearest support area happens, we could have a bullish correction.

There's a bullish "High Wave", which has been confirmed enough. So, the pair is likely going to reach the nearest resistance area, which could be a departure point for another decline.

 

[riki143]

EUR/USD: "INVERTED HAMMER" PATTERN
13:31 01.03.2018

There's an "Inverted Hammer", which hasn't been confirmed yet. So, the price is likely going to test the 21 Moving Average, which could be a departure point for another decline.

We've got a "Shooting Star", which has formed at the last local high. In this case, the pair is likely going to reach the nearest support area. If any bullish pattern forms little later on, there'll be a moment for an upward correction.