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Re: Market news and trade recommendations by FBS
USD/JPY: "THREE METHODS" PATTERN
12:33 09.06.2017 https://fbs.com/img/articles/1527/14...0x1200_q90.png The price has been rising since we had an "Inverted Hammer" at the last low. So, the pair is likely going to test the nearest resistance by the middle of the last huge bearish candle. If a pullback from this level happens, there'll be an opportunity to have another decline. https://fbs.com/img/articles/1527/14...0x1200_q90.png There's a "Three Methods" pattern, which has been confirmed enough. In this case, bulls are likely going to continue pushing the price even higher in the coming hours. More: https://fbs.com/analytics/articles/u...2_pattern_1527 |
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GBP/CHF REVERSED FROM RESISTANCE ZONE
16:42 09.06.2017 GBP/CHF reversed from resistance zone Next sell target - 1.2220. GBP/CHF recently reversed down from the resistance zone lying at the intersection of the resistance level 1.1250 (former support level, which was set as the sell target in our earlier forecast for this currency pair) and the lower trendline of the recently broken up channel from last November (acting as resistance now after it was broken). The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Bearish Engulfing. GBP/CHF is expected to fall to the next sell target at the next support level 1.2220. (low of the previous minor correction 2 from March). https://cdn.pbrd.co/images/gwWPS1Eeb.png More: https://fbs.com/analytics/articles/g...ance_zone_1528 |
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CAD/JPY REVERSED FROM SUPPORT ZONE
16:46 09.06.2017 CAD/JPY reversed from support zone Next buy target - 83.70 CAD/JPY continues to rise after the earlier upward reversal from the support zone lying between the powerful support level 80.80 (which reversed the price with the daily hammer in the middle of May and also in April, as can be seen below) and the lower daily Bollinger Band. The latest upward reversal from this support zone stopped the previous minor correction (ii). CAD/JPY is expected to rise to the next buy target at the next resistance level 83.70 (top of the pervious impulse wave 1 from May). https://cdn.pbrd.co/images/gwTJpF1IE.png More: https://fbs.com/analytics/articles/c...port_zone_1529 |
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USD/CAD: BEARS PREPARE AN ATTACK
07:05 12.06.2017 On the daily USD/CAD chart bulls and bears are fighting for an important area of 1.3435-1.3505. Bulls’ victory will allow them to count on the resumption of the medium-term uptrend. On the other hand, if bears win, the odds of Wolfe Waves pattern will increase. https://fbs.com/img/articles/1540/14...0x1200_q90.png On H1 USD/CAD keeps consolidating in the 1.3430-1.3535 in line with reversed Spike and Ledge pattern based on 1-2-3. Bears have approached 1.3430 and, in case of its successful test, will be ready to resume the short-term downtrend. https://fbs.com/img/articles/1540/14...0x1200_q90.png Recommendation: SELL 1.3430 SL 1.3485 TP1 1.3330 TP2 1.3280 TP3 1.3165 More: https://fbs.com/analytics/articles/u...an_attack_1540 |
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EUR/USD: BULLS HAVE BUILT FORTRESSES
07:08 12.06.2017 On the daily EUR/USD chart bears failed to break support at 1.1170 from the first attempt. At this level and in the 1.1100-1.1130 bulls constructed powerful fortresses. The trend remains bullish as long as the pair stays above 1.08. The odds of failure to this level aren’t high, so traders should buy the euro on the pullbacks to the downside. https://fbs.com/img/articles/1541/14...0x1200_q90.png On H1 EUR/USD has realized “Three Indians” and 1-2-3 patterns and then formed Wolfe’s Waves. The pair approached 2-3 line. The short-term outlook for the pair will depend on its ability to overcome this level. The break will strengthen the odds of an increase towards $1.1250 and $1.1280. Otherwise, bears will head towards 1.1170. https://fbs.com/img/articles/1541/14...0x1200_q90.png More: https://fbs.com/analytics/articles/e...rtresses__1541 |
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EUR/USD: "RISING WEDGE"
08:28 12.06.2017 https://fbs.com/img/articles/1546/14...0x1200_q90.png We've got a "Rising Wedge", so the price formed a pullback from the 55 Moving Average, which led to the current consolidation under the 34 Moving Average. Therefore, the pair is likely going to test the nearest resistance at 1.1249 - 1.1267 in the short term. If we see a pullback from this area, there'll be an opportunity to have another decline in the direction of the next support at 1.1204 - 1.1165. https://fbs.com/img/articles/1546/14...0x1200_q90.png There's a "Double Bottom", so the price is consolidating under the 34 Moving Average. It seems like bears are going to achieve the closest support at 1.1204 - 1.1194, which could be a departure point for an upward price movement towards the nearest resistance at 1.1249 - 1.1267. More: https://fbs.com/analytics/articles/e..._wedge%22_1546 |
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GBP/USD: BULLISH "THORN"
08:31 12.06.2017 https://fbs.com/img/articles/1547/14...0x1200_q90.png We've got a bullish "Thorn", so the price is consolidating. In this case, we should keep an eye on the nearest support at 1.2705 as an intraday target. If a pullback from this level happens, bulls will probably try to test the next resistance at 1.2793 - 1.2830. https://fbs.com/img/articles/1547/14...0x1200_q90.png The price is consolidating between the levels 1.2768 - 1.2705. In this case, bears are likely going to reach the nearest support at 1.2705 during the day. If we see a pullback from this level, there'll be an option to have a new local high. More: https://fbs.com/analytics/articles/g...2thorn%22_1547 |
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EUR/USD: "INVERTED HAMMER" ON THE 55 MA
12:18 12.06.2017 https://fbs.com/img/articles/1548/14...0x1200_q90.png We've got an "Inverted Hammer" on the 55 Moving Average. Considering confirmation of this pattern, the market is likely going to test the upper "Window" in the coming hours. If a pullback from this level happens, there'll be an opportunity to have a downward correction. https://fbs.com/img/articles/1548/14...0x1200_q90.png There's a new "Window", which was formed this morning. Also, we've got a "Belt Hold" pattern, so bulls are likely going to continue pushing the price even higher towards the nearest resistance. More: https://fbs.com/analytics/articles/e...the_55_ma_1548 |
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USD/JPY: "SHOOTING STAR" AND "HARAMI"
12:21 12.06.2017 https://fbs.com/img/articles/1549/14...0x1200_q90.png The price is still declining. Moreover, there're a "Shooting Star" and a "Harami", which both have been confirmed. Therefore, bears are likely going to test the last low in the short term. https://fbs.com/img/articles/1549/14...0x1200_q90.png There isn't any bullish pattern so far, which means all last candles are bearish. In this case, the price is likely going to continue falling down until any reversal pattern forms. More: https://fbs.com/analytics/articles/u...harami%22_1549 |
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FOREX MAJORS: OUTLOOK FOR JUNE 12-16
12:34 12.06.2017 The US dollar index recovered last week from 96.45 (the lowest point since November 2016) to the levels above 97.00. The Federal Reserve is expected to raise the federal funds rate on Wednesday, June 14. The 25-basis-point rate hike is completely priced in and is no longer able to be a bullish driver for the American currency. The future fate of the greenback will depend on the hints from the Fed about its further moves, so pay great attention to Chair Janet Yellen’s press conference. Before the Fed’s meeting, the US will release economic statistics (PPI, CPI, retail sales). The figures are not likely to be impressive and may hurt USD. In addition, political turmoil in the United States continues after fired FBI Director James Comey’s testimony last Thursday. A shooting star on the daily chart means that the US dollar index (DXY) may test 96.70/50. Further support is located at 96.00. At the same time, the odds are that the Fed won’t alter its policy stance at this point and the US dollar will strengthen after the rate hike. This lets us believe that the DXY can end the week in 97.50/70 area. https://fbs.com/img/articles/1550/14...0x1200_q90.png More: https://fbs.com/analytics/articles/f...une_12_16_1550 |
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EUR/USD: BEARISH IMPULSE
14:08 12.06.2017 https://fbs.com/img/articles/1551/14...0x1200_q90.png An impulse in wave [c] of 2 may have been ended, so the price found a lodgement under 4/8 MM Level. In this case, there's an opportunity to have a bearish impulse in wave (i). https://fbs.com/img/articles/1551/14...0x1200_q90.png We've got a pullback from 8/8 MM Level, so wave iv ended on the one-hour chart. Therefore, bears are likely going to deliver wave v of (i) in the coming hours. If so, we should keep in mind 4/8 MM Level as an intraday target. More: https://fbs.com/analytics/articles/e...h_impulse_1551 |
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EUR/GBP REACHED BUY TARGET 0.8800
18:10 12.06.2017 EUR/GBP reached buy target 0.8800 Next buy target - 0.8950 EUR/GBP today broke above the key resistance level 0.8800 (which was set as the buy target in our previous forecast for this currency pair). The breakout of the resistance level 0.8800 accelerated the active minor impulse wave 5, which belongs to the intermediate wave (C) of the primary ABC correction ? from last December. The active impulse wave 5 started earlier from the support zone lying between the support level 0.8700 and the upper trendline of the recently broken daily down channel from January. EUR/GBP is expected to rise to the next buy target at the next resistance level 0.8950 (target price for the completion of wave (C)). https://cdn.pbrd.co/images/hJW2PkhRh.png More: https://fbs.com/analytics/articles/eur_gbp_reached_buy_target_0.8800_1554 |
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GBP/USD BROKE SUPPORT ZONE
18:11 12.06.2017 GBP/USD broke support zone Next sell target - 1.2400 GBP/USD continues to fall after the earlier breakout of the support zone lying between the support level 1.2750 (which reversed earlier waves (iv) and 1, as can be seen from the daily GBP/USD chart below) and the 50-day moving average. The breakout of this support zone accelerated the active minor impulse wave 3, which belongs to the indeterminate impulse wave (C) from the middle of May. GBP/USD is expected to fall to the next sell target at the next support level 1.2400 (bottom of the pervious minor correction (ii) from April). https://cdn.pbrd.co/images/hJVziFpmW.png More: https://fbs.com/analytics/articles/g...port_zone_1555 |
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EUR/USD: EURO FALLING INTO CLOUD
04:50 13.06.2017 Technical levels: support – 1.1190; resistance – 1.1240. Trade recommendations: Buy — 1.1200; SL — 1.1180; TP1 — 1.1260; TP2 – 1.1300. Reason: narrowing bullish Ichimoku Cloud, rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen; the prices entered into the cloudy area and may going lower to Senkou Span A. https://fbs.com/img/articles/1560/14...0x1200_q90.png More: https://fbs.com/analytics/articles/e...nto_cloud_1560 |
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GBP/USD: POUND IS OVERSOLD
04:51 13.06.2017 Technical levels: support – 1.2630; resistance – 1.2700, 1.2740. Trade recommendations: Buy — 1.2630; SL — 1.2610; TP1 — 1.2700; TP2 — 1.2740. Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen; but the prices are on the strong support and a market is oversold. https://fbs.com/img/articles/1561/14...0x1200_q90.png More: https://fbs.com/analytics/articles/g..._oversold_1561 |
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EUR/USD: CONSOLIDATION ABOVE THE "WEDGE"
06:52 13.06.2017 https://fbs.com/img/articles/1564/14...0x1200_q90.png The price is still consolidating above the "Wedge" pattern's lower side. However, the pair is likely going to continue falling down towards the nearest support at 1.1165 - 1.1108. If we see a pullback from this area, there'll be an opportunity to have another upward price movement in the direction of the next resistance at 1.1204 - 1.1232. https://fbs.com/img/articles/1564/14...0x1200_q90.png There's a "Double Top", which has been confirmed. Therefore, bears are likely going to reach the closest support at 1.1161 - 1.1137. Meanwhile, if we see a pullback from these levels, bulls will have an option to achieve resistance at 1.1194 - 1.1204. More: https://fbs.com/analytics/articles/e...2wedge%22_1564 |
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GBP/USD: "THORN" ACTED AS SUPPORT
06:57 13.06.2017 https://fbs.com/img/articles/1565/14...0x1200_q90.png The last "Thorn" pattern has acted as support, so the price is consolidating. Nevertheless, the local low is likely going to be broken, so we should keep an eye on the nearest support at 1.2634 - 1.2581 as an intraday target. If a pullback from this area happens, there'll be a green light for an upward correction towards resistance at 1.2678 - 1.2705. https://fbs.com/img/articles/1565/14...0x1200_q90.png The price is consolidating between the levels 1.2678 - 1.2634. Also, there's a "Pennant" pattern, so the market is likely going to decline in the direction of the closest support at 1.2634 - 1.2581. At the same time, bulls will probably try to reach resistance at 1.2678 - 1.2705 afterwards. More: https://fbs.com/analytics/articles/g...s_support_1565 |
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EUR/USD: SHARK FRIGHTENED THE EURO
07:18 13.06.2017 Recommendation: SELL 1.1170, SL 1.1225, TP1 1.1095, TP2 1.1000. On the daily EUR/USD chart, the risks of correction of the medium-term uptrend increase. Successful test of support at 1.1700 with the following decline to 1.1100-1.1130 will provoke further decline to 1.1000, 1.0930 and 1.0890. The latter level corresponds to 88.6% target of the shark pattern. https://fbs.com/img/articles/1567/14...0x1200_q90.png On H1 EUR/USD is trading within the descending channel. Bears are trying to get the pair under control. In the case of the break of support at 1.1170 and triggering of AB=CD pattern, they will succeed. https://fbs.com/img/articles/1567/14...0x1200_q90.png More: https://fbs.com/analytics/articles/e..._the_euro_1567 |
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USD/CHF: FRANC WAS CAUGHT BY THE DRAGON
07:42 13.06.2017 Recommendation: BUY 0.9725 SL 0.9670 TP1 0.9915, TP2 1.0000. On the daily chart, bulls managed to return the pair inside the previous descending channel. As a result, the risks of correction to the current bearish trend increased. Buyers firstly have to conquer resistance at 0.9716 and then trigger the “Shark” pattern. Upside targets are at 0.9917 and 1.0050. https://fbs.com/img/articles/1568/14...0x1200_q90.png On H1 USD/CHF is finishing the “Dragon” pattern. In the case of the resistance’s break at the level of the “Dragon’s head", bulls will have good chances for the continuation of the rally. https://fbs.com/img/articles/1568/14...0x1200_q90.png More: https://fbs.com/analytics/articles/u...he_dragon_1568 |
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EUR/USD: WAVE IV OF (I) GOING TO END SOON
10:12 13.06.2017 https://fbs.com/img/articles/1572/14...0x1200_q90.png There's a diagonal triangle in wave (v) of [c], so wave 2 may have been ended. In this case, we're likely going to have wave (i) in the coming hours. In this case, we should keep an eye on 3/8 MM Level as the nearest bearish target. https://fbs.com/img/articles/1572/14...0x1200_q90.png Wave iv of (i) is going to end soon. If we have a pullback from 8/8 MM Level, there'll be a green light for wave v of (i). Therefore, the low of wave iii is likely going to be broken. More: https://fbs.com/analytics/articles/e..._end_soon_1572 |
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EUR/USD: YESTERDAY'S "WINDOW" GOING TO ACT AS SUPPORT
11:23 13.06.2017 https://fbs.com/img/articles/1574/14...0x1200_q90.png There's a developing consolidation, but we've got a confirmed "Inverted Hammer" on the 55 Moving Average. So, the market is likely going to test the nearest resistance in the short term. If we see a pullback from this level, the 55 MA could be tested once again. https://fbs.com/img/articles/1574/14...0x1200_q90.png We've got a bearish "Harami" at the local high, but yesterday's "Window" is likely going to act as support. If so, we could have a new high soon. However, if a pullback from the nearest resistance happens afterwards, there'll be an opportunity to have just another decline. More: https://fbs.com/analytics/articles/e...s_support_1574 |
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USD/JPY: BULLISH "HARAMI"
11:25 13.06.2017 https://fbs.com/img/articles/1575/14...0x1200_q90.png There's a bullish "Harami", which has been confirmed enough. In this case, the market is likely going to test the closest resistance, which could be a departure point for a decline in the direction of the lower "Window". https://fbs.com/img/articles/1575/14...0x1200_q90.png We've got a "Harami" on the 89 Moving Average, but this pattern hasn't been confirmed yet. So, the pair is likely going to test the last "Three Methods" pattern's level. More: https://fbs.com/analytics/articles/u...harami%22_1575 |
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USD/CAD BROKE PIVOTAL SUPPORT LEVEL 1.3260
17:40 13.06.2017 USD/CAD broke pivotal support level 1.3260 Next sell target - 1.3150 USD/CAD has been falling sharply in the last few trading sessions inside the C-wave of the minor ABC correction 2 from the start of May. The price earlier broke the support trendline of the daily up channel from February – which accelerated the active C-wave. The price today broke below the pivotal support level 1.3260 (which has been reversing the price from March). USD/CAD is expected to fall to the next sell target at the next support level 1.3150. https://cdn.pbrd.co/images/1Oo6ZHN89.png More: https://fbs.com/analytics/articles/u...el_1.3260_1581 |
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EUR/CAD APPROACHED SUPPORT LEVEL 1.4830
17:41 13.06.2017 EUR/CAD approached support level 1.4830 Next sell target - 1.4600 EUR/CAD continues to fall sharply after the recent breakout of the round support level 1.5000 (which reversed earlier wave 4 and which was set as the sell target in our previous forecast for this currency pair). The breakout of the support level 1.5000 strengthened the bearish pressure on this currency pair. The price is currently trading close to the support level 1.4830 (low of wave 2 from May). If the pair breaks below the support level 1.4830 –GBP/USD can then be expected to fall to the next sell target at the next support level 1.4600 (previous monthly high from March). https://cdn.pbrd.co/images/i7YWa0VbG.png More: https://fbs.com/analytics/articles/e...el_1.4830_1582 |
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GBP/USD: DECISION TIME FOR THE POUND
07:11 14.06.2017 On the daily chart, GBP/USD broke down through the lower border of the rising trend channel. The return above resistance at 1.2770 will strengthen the possibility of the pound increase to 1.2900. On the other hand, decline below 1.2640 will lead the pair down to 1.2500 and 1.2400. https://fbs.com/img/articles/1588/14...0x1200_q90.png On H1, in the case of the successful test of 1.2770 bulls can count on the realization if the inverted “Bat” pattern. Its 78.6% and 88.6% targets correspond to 1.2905 and 1.2940. On the contrary, recoil from the convergence area of 1.2755-1.2770 to the downside will return control of the pair to bears. https://fbs.com/img/articles/1588/14...0x1200_q90.png More: https://fbs.com/analytics/articles/g...the_pound_1588 |
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EUR/USD: CONSOLIDATION RIGHT ABOVE THE "WEDGE"
09:16 14.06.2017 https://fbs.com/img/articles/1590/14...0x1200_q90.png The price is still consolidating right above the "Wedge" pattern's lower side. So, the market is likely going to test the nearest resistance at 1.1232 - 1.1249 in the short term. If we see a pullback from this area, there'll be an opportunity to have another decline in the direction of the next support at 1.1204 - 1.1165. https://fbs.com/img/articles/1590/14...0x1200_q90.png There's a consolidation, which is taking place between the levels 1.1234 - 1.1161. Also, the price has broken the Moving Averages, so bulls are likely going to test the closest resistance at 1.1234 - 1.1249 during the day. However, if a pullback from this area happens, bears will have a chance to reach a support area at 1.1191 - 1.1178. More: https://fbs.com/analytics/articles/e...2wedge%22_1590 |
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GBP/USD: "DOUBLE BOTTOM" CONFIRMED BY "FLAG"
09:21 14.06.2017 https://fbs.com/img/articles/1591/14...0x1200_q90.png We've got a "Double Bottom", which has been confirmed. Bulls faced resistance at 1.2793, but the market is likely going to rise even higher, so we should keep an eye on the next resistance at 1.2830 - 1.2845 as an intraday target. At the same time, if we see a pullback from this area, there'll be an opportunity to have a decline towards the closest support at 1.2793 - 1.2768. https://fbs.com/img/articles/1591/14...0x1200_q90.png The last "Double Bottom" has been confirmed by the "Flag" pattern. So, the market is likely going to reach the next resistance at 1.2829 - 1.2845 in the coming hours. If we have a pullback from this area, bears will have a green light to test a support at 1.2793 - 1.2768. More: https://fbs.com/analytics/articles/g...2flag%22__1591 |
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EUR/USD: "HIGH WAVE" AT THE LOCAL LOW
10:43 14.06.2017 https://fbs.com/img/articles/1593/14...0x1200_q90.png The price has been consolidating since the last "Inverted Hammer" formed. However, we've got a "High Wave" at the local low. Considering confirmation of this pattern, the market is likely going to test the nearest resistance, which could be a departure point for another decline. https://fbs.com/img/articles/1593/14...0x1200_q90.png The last "Window" has been closed, so there's a confirmed "High Wave". In this case, the price is likely going to test the nearest support level, which could be a departure point for a local upward price movement. More: https://fbs.com/analytics/articles/e...local_low_1593 |
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USD/JPY: "WINDOW" ACTING AS SUPPORT
10:47 14.06.2017 https://fbs.com/img/articles/1594/14...0x1200_q90.png The "Window" is acting as support, so we've got a bullish "Harami", which has been confirmed. Therefore, the market is likely going to test the closest resistance once again. If a pullback from this level happens, there'll be an opportunity to have another decline. https://fbs.com/img/articles/1594/14...0x1200_q90.png The price is consolidating along the 89 Moving Average, so there's a bearish "Doji", but this pattern hasn't been confirmed yet. In this case, we could have a local decline and a new high afterwards. More: https://fbs.com/analytics/articles/u...s_support_1594 |
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EUR/USD: EURO SUPPORTED BY CLOUD
05:17 15.06.2017 Technical levels: support – 1.1210; resistance – 1.1300. Trade recommendations: Buy — 1.1230; SL — 1.1210; TP1 — 1.1300; TP2 – 1.1340. Reason: expanding bullish Ichimoku Cloud, rising Senkou Span a; a golden cross of Tenkan-sen and Kijun-sen; the prices tested a main resistance on 1.1300 and back again to the support of the Cloud. https://fbs.com/img/articles/1603/14...0x1200_q90.png More: https://fbs.com/analytics/articles/e..._by_cloud_1603 |
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USD/JPY: BEARS MADE A NEW LOWS
05:18 15.06.2017 Technical levels: support – 108.70; resistance – 109.70/90. Trade recommendations: Sell — 109.60; SL — 109.80; TP1 — 108.70; TP2 — 108.30. Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices keep staying under the Cloud. https://fbs.com/img/articles/1604/14...0x1200_q90.png More: https://fbs.com/analytics/articles/u..._new_lows_1604 |
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GOLD NEEDS THE CORRECTION
06:41 15.06.2017 Recommendations: SELL $1260 SL $1280 TP1 $1230 TP2 $1220. On the daily chart of gold, the formation of a double top and the inability of the "Bulls" to test the resistance at $1,280 tell us about weakness. A successful test of the convergence area $1245-1255 will allow the Bears to develop a correction. On the hourly chart of gold, there are Fakeout-shakeout and Head and shoulders patterns. A false breakout of the upper border of the consolidation channel $1248-1274 with the subsequent return of quotes to its middle area shows that Bears are ready to attack. A breakout of the neckline will give us a signal for this attack. More: https://fbs.com/analytics/articles/g...orrection_1606 |
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USD/JPY: YEN WANTS TO BE SET FREE
06:50 15.06.2017 Recommendations: BUY 110,25 SL 109,7 TP1 111,5 TP2 113,2. On the USD/JPY daily chart, a bar with a long shadow was formed. The Bears will try to break the diagonal resistance in the form of the upper boundary of the downward trading channel and then activate the inverted "Shark" pattern. Its target 88.6% is located near 111.5. On the USD/JPY hourly chart, for the activation of the Three Indians pattern, the Bulls need to test the convergence area 110,15-110,25. If they succeed, they will be able to push the quotes towards 111.6 and 113.2. More: https://fbs.com/analytics/articles/usd_jpy%3a__yen_wants_to_be_set_free_1607 |
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EUR/USD: DEVELOPING "RISING WEDGE"
07:56 15.06.2017 https://fbs.com/img/articles/1613/14...0x1200_q90.png The price is consolidating above the lower side of the developing "Rising Wedge". So, bears are likely going to reach the nearest support at 1.1204 - 1.1165 in the short term. If we see a pullback from this area, there'll be an opportunity to have another upward price movement towards resistance at 1.1232 - 1.1249. https://fbs.com/img/articles/1613/14...0x1200_q90.png We've got a "Double Top", which has been confirmed, so the price is consolidating. Also, there's a "Flag" pattern, so the market is likely going to achieve the closest support at 1.1178 - 1.1165. If a pullback from this area happens, bulls will have an option to reach the Moving Averages. More: https://fbs.com/analytics/articles/eur_usd%3a_developing_%22rising_wedge%22_1613] |
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GBP/USD: BEARISH "FLAG"
08:00 15.06.2017 https://fbs.com/img/articles/1614/14...0x1200_q90.png The 34 Moving Average has acted as resistance, so there's a "V-Top" pattern, which has confirmation. In this case, the pair is likely going to test the next support at 1.2705 - 1.2678. However, if a pullback from this area happens, there'll be a green light for another bullish price movement. https://fbs.com/img/articles/1614/14...0x1200_q90.png We've got a "Triple Top" pattern, which has been confirmed, so the price is consolidating. Meanwhile, there's a bearish "Flag", so the market is likely going to test the closest support at 1.2705 - 1.2672. If we have a pullback from these levels, bulls will probably try to test the 55 Moving Average. More: https://fbs.com/analytics/articles/g...22flag%22_1614 |
Re: Market news and trade recommendations by FBS
POST-FOMC NEWS BRIEF FOR JUNE 15
08:15 15.06.2017 The Fed’s policymakers agreed to raise their benchmark lending rate, projected additional hike in 2017 and revealed their plans on how they intend to shrink their $4.5. trillion balance sheet this year. The Fed’s decision was overshadowed by extremely soft consumer prices. Headline US CPI for May eased 0.1% (against flat expected) with core inflation also falling short of market expectations and bringing annual core CPI down to 1.7% from 1.9%. Another disappointment came after the US Retail sales release which was also lower than expected in May. Retail sales fell 0.3% against investors’ expectation for a 0.1% gain. Political turmoil in Washington also weighed on the USD. The special council responsible for the investigation of Russia’s meddling in the 2016 presidential election is going to interview two US intelligence officials about whether the US President Donald Trump sought their help to get the FBI to drop their probe into Michael Flynn’s collusion with Russian entities. USD/JPY popped up to 109.60 in Tokyo morning after falling sharply towards 108.80 overnight on the USD weakness. We don’t expect great swings from here in the short-term looking at the economic calendar. The Bank of Japan will in the spotlight on Friday, as it is poised to release their rate statement which will be followed by a press conference with BoJ Governor Haruhiko Kuroda. The central bank is expected to maintain its ultra-loose monetary policy settings in order to prop up inflation and domestic demand. Japan’s economy has recently received a boost from solid global demand, but inflation rates remain well below the bank’s coveted target. The BoJ’s policymakers will unlikely tighten their policy at tomorrow’s meeting. So, traders will be focused on Kuroda’s follow-up comments, looking for some hawkish notes in his tone (pay special attention to Kuroda’s words on the reduction of bond purchases). GBP/USD fell to 1.2730 in the opening hours of the Asian session. Further weakness is seen on the horizon but solid support at 1.2560, 1.2515 will likely prevent the sharp downfall. The Bank of England is set to deliver its interest rate later today at 2:00 pm MT time. Given the political landmines dotting the UK landscape (a hung parliament as a result of the snap election, preparation for Brexit negotiations with the EU), the BOE’s policymakers will likely look through the higher inflation print. The headline inflation was at 2.9% in May and core inflation slightly lower at 2.6% (well above the bank’s target – 2%). At the previous meeting, the BOE’s officials have already indicated that they are ready to tolerate higher inflation rates despite declining consumption. In a case of release of the dovish statement indicating the BOE’s unwillingness to tighten their monetary policy, the GBP will be hurt. The euro unexpectedly spiked to 1.1295 yesterday on the soft releases from the US that triggered USD weakness. In Tokyo morning, the USD recouped its earlier losses and fell to 1.1185. The undertone is still on the weak side; the quotes might slide lower to 1.1160 unless the single currency manages to reclaim the 1.1200 level. Aussie was an absolute gainer today as Australian Labor force information hit market’s expectations (a big drop in jobless rate, an increase in hours worked). The bullish phase is still clearly intact despite the scale of recent Aussie’s gains. AUD/USD is now at 0.76005. There is a room for an extension to 0.7635 (yesterday’s high). But be ready to exit your long position, at around 0.7650, as further upside will be complicated. More: https://fbs.com/analytics/articles/p...r_june_15_1615 |
Re: Market news and trade recommendations by FBS
EUR/USD: CONFIRMED "SHOOTING STAR"
11:42 15.06.2017 https://fbs.com/img/articles/1619/14...0x1200_q90.png We've got a "Shooting Star", which has been confirmed. Also, there isn't any reversal pattern so far, which means all the last candles are bearish. Therefore, the 89 Moving Average is likely going to be tested once again https://fbs.com/img/articles/1619/14...0x1200_q90.png There's a bullish "Harami", which hasn't been confirmed yet. Therefore, we could have a local correction, but bears are likely going to break the last low afterwards. More: https://fbs.com/analytics/articles/e...g_star%22_1619 |
Re: Market news and trade recommendations by FBS
USD/JPY: CONSOLIDATION ALONG THE 34 MA
11:44 15.06.2017 https://fbs.com/img/articles/1620/14...0x1200_q90.png We've got a bullish "Engulfing", so the market is likely going to test the nearest resistance. If a pullback from this level happens, there'll be an opportunity to have another decline. https://fbs.com/img/articles/1620/14...0x1200_q90.png The price is consolidating along the 34 Moving Average. Considering that there isn't any bearish pattern so far, the pair is likely going to continue moving up towards the 144 Moving Average. More: https://fbs.com/analytics/articles/u...the_34_ma_1620 |
Re: Market news and trade recommendations by FBS
HIGHLIGHTS OF THE BANK OF ENGLAND'S MEETING
12:09 15.06.2017 The Bank of England published its latest views on interest rates and monetary policy setting earlier today. Bank rate was held at 0.25%, government bond purchases at £435bn and corporate bond purchases at £10bn. No changes from its previous meeting as you might have noticed. All eyes were on the minutes and the voting. The market participants didn’t expect the split among Monetary Policy Committee members to widen and change from its last 7-1. Three officials from 8 called for a rate increase, warning that inflation could rise more than previously thought and eventually flatten the wallets of the British consumers. The unexpected shift in the MPC’s voting comes against an uncertain backdrop for the U.K., with real wages falling, consumer spending declining, Brexit negotiations knocking at the door and Prime Minister Theresa May unexpectedly losing her parliamentary majority after Thursday’s general election. The greatest division among the BOE’s policymakers on the interest rate can be explained by the UK economic fundamentals. In recent weeks, the BOE’s policy had a chance to see further evidence of sharply rising prices, subdued wage growth and a weakening demand from consumers. CPI inflation has been pushed above the bank’s 2 percent target and reached 2.9% in May. The BOE policymakers said it may surge higher above 3%. GDP growth declined markedly in the Q1 mainly due to weaker household spending. So, the rate hike will be needed, anyways, but it will be gradual and limited. The unexpected split helped GBP to regain its strength. It rose above 1.2770 following the rate announcement. The BoE’s interest rate announcement is not the single event that may influence the GBP today. Governor Mark Carney will speak at 11 pm MT time at the annual high-profile Mansion House event in London’s financial district. https://fbs.com/img/articles/1621/14...0x1200_q90.png More: https://fbs.com/analytics/articles/h...s_meeting_1621 |
Re: Market news and trade recommendations by FBS
GBP/USD: POUND WILL TEST CLOUD AGAIN
05:00 16.06.2017 Technical levels: support – 1.2750, 1.2660; resistance – 1.2805, 1.2840. Trade recommendations: Buy — 1.2780; SL — 1.2760; TP1 — 1.2840; TP2 — 1.2900. Sell — 1.2750; SL — 1.2770; TP1 — 1.2660; TP2 — 1.2610. Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a correctional golden cross of Tenkan-sen and Kijun-sen; the prices returned to Cloud again and the Bulls can try to breakout its resistance. https://fbs.com/img/articles/1638/14...0x1200_q90.png More: https://fbs.com/analytics/articles/g...oud_again_1638 |
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