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Re: Market news and trade recommendations by FBS
BITCOIN (BTC/USD) Daily Analytics
01:56 22.01.2018 The cryptocurrency continues to depreciate against the US dollar and still keeps intact the projections we have made in past reports. Technically speaking, the BTC/USD is finding support for the Fibonacci extension of 61.8% in 9.259. This has allowed to have relief in the short term and is waiting to resume the bearish trend. Fears regarding strict regulations for Bitcoin are still latent and the latest news about it does not favor BTC bulls. According to the latest reports, the government of India is beginning to send tax notices to the cryptocurrency traders. On the other hand, an introduced bill could force South Korean officials to declare their investments in this market. The Parabolic SAR on the H4 chart is calling for more losses in the Bitcoin because it remains below the 200-hour moving average, which continues to guide the path of the BTC/USD pair in the short term. In addition, the resistance of 23.6% continues to block the advance of the bulls, which produced the formation of an enveloping candlestick. What do we expect? According to our forecasts in the H4 chart, cryptocurrency still has enough traction to reach the goal of the 100% Fibonacci extension in 5,754, which would complete a cycle in the short term. The RSI remains in negative territory, which favors the falls in the BTC and which strengthens our hypothesis for the week ahead https://fbs.com/img/articles/6359/15...1200_q90v3.png More: https://fbs.com/analytics/articles/b...Riki_Analytics |
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EUR/AUD Daily Analytics
01:57 22.01.2018 EUR/AUD remains trading around the Fibonacci zone of 61.8% at 1.5265, at which it’s expecting to find a strong rebound in order to allow further gains across the board. The ongoing consolidation could strengthen such bias and if it manages to break once again above the 200 SMA at H1 chart, the next short-term target would be the -23.6% Fibonacci level at 1.5514. RSI indicator remains in the negative territory, but it’s close to the neutral territory. https://fbs.com/img/articles/6360/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...Riki_Analytics |
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EUR/USD Daily Analytics
06:19 22.01.2018 Technical levels: support – 1.2210; resistance – 1.2300. Trade recommendations: Buy — 1.2230; SL — 1.1210; TP1 — 1.2300; TP2 — 1.2330 Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with Tenkan-sen; the prices are supported by Cloud. https://fbs.com/img/articles/6365/15...1200_q90v3.png More: ?utm_source=forum&utm_medium=affiliate&utm_campaig n=EN_English&utm_content=Riki_Analytics https://fbs.com/analytics/articles/eur-usd-euro-may-continue-uptrend-6365 |
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GBP/USD Daily Analytics
06:20 22.01.2018 Technical levels: support – 1.3840; resistance – 1.3940. Trade recommendations: Buy — 1.3840/60; SL — 1.3820; TP1 — 1.3940; TP2 — 1.3980. Reason: bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; a market is on the strong support of Kijun-sen. https://fbs.com/img/articles/6366/15...1200_q90v3.png More: ?utm_source=forum&utm_medium=affiliate&utm_campaig n=EN_English&utm_content=Riki_Analytics https://fbs.com/analytics/articles/gbp-usd-pound-supported-by-kijun-sen-again-6366 |
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NZD/USD Daily Analytics
07:41 22.01.2018 Recommendation: SELL 0.7230 SL 0.7285 TP1 0.7120 TP2 0.7055 On the daily chart, the inability of NZD/USD bulls to hold an important support at 0.7250-0.7265 points at their weakness. The odds of the reversal “Widening wedge” pattern will increase in the pair slides below 0.7170. On the other hand, a break of resistance levels at 0.7395 and 0.7475 will allow speaking about the uptrend’s resumption. https://fbs.com/img/articles/6371/15...1200_q90v3.png On H1, NZD/USD keeps forming a “Widening wedge”. A successful test of support at 0.7230 will create a possibility for a decline to 0.7120 and 0.7055. https://fbs.com/img/articles/6371/15...1200_q90v3.png More: https://fbs.com/analytics/articles/n...Riki_Analytics |
Re: Market news and trade recommendations by FBS
AUD/USD Daily Analytics
07:51 22.01.2018 Recommendation: BUY 0.7895 SL 0.7840 TP1 0.7990 TP2 0.8050 TP3 0.8125 On the daily chart, AUD/USD is fighting for an important level – 78.6% of the wave CD of the 5-0 pattern. The necessary condition for an uptrend’s resumption is a confident advance above resistance at 0.8050. As long as the pair keeps trading above 0.7885-0.7895, bulls remain in control. https://fbs.com/img/articles/6372/15...1200_q90v3.png On H1, there’s a “Spike and reversal with acceleration” pattern. The pullback from the lower border of the uptrend’s channel and supports at 0.7895 and 0.7870 will allow speaking about the end of correction. [IMG]https://fbs.com/img/articles/6372/1516607451-ef00342837a633bda01cab6a3fe3e88f_1200x1200_q90v3.p ng[IMG] More: [URL=https://fbs.com/analytics/articles/aud-usd-bulls-loosened-their-grip-6372?utm_source=forum&utm_medium=affiliate&utm_cam paign=EN_English&utm_content=Riki_Analytics]?utm_source=forum&utm_medium=affiliate&utm_campaig n=EN_English&utm_content=Riki_Analyticshttps://fbs.com/analytics/articles/aud-usd-bulls-loosened-their-grip-6372[URL] |
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XAU/USD Daily Analytics
07:06 23.01.2018 Recommendation: SELL $1324 SL $1339 TP1 $1302 TP2 $1280 BUY $1344 SL $1329 TP $1359 TP2 $1380 TP3 $1392 On the daily chart, if XAU/USD renews January high, the risks of its going to 127.2% target of AB=CD will increase. The nearest levels of support are at $1324 and $1302-1306 an ounce. https://fbs.com/img/articles/6397/15...1200_q90v3.png On H1, XAU/USD consolidated in the $1324-1344 range. A break of its upper border will trigger AB=CD pattern with a target at 161.8%. On the other hand, successful test of support at $1324 will increase the risks of a correction. https://fbs.com/img/articles/6397/15...1200_q90v3.png More: https://fbs.com/analytics/articles/x...Riki_Analytics |
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USD/CAD Daily Analytics
07:15 23.01.2018 Recommendation: BUY 1.251 SL 1.2455 TP1 1.264 TP2 1.28 TP3 1.2855 SELL 1.2375 SL 1.243 TP1 1.2275 TP2 1.22 TP3 1.2125 On the daily chart, USD/CAD keeps fighting for an important level of 1.2462. Near it the pair formed a triangle. The break of it will either allow bulls to count on the pair’s return to resistance at 1.2670 or, on the other hand, increase the risks of the bearish trend’s resumption. https://fbs.com/img/articles/6398/15...1200_q90v3.png On H1, USD/CAD there is a “Spike and ledge” pattern. A successful test of the upper or lower border of the 1.2375-1.2510 consolidation range will create grounds for a “Bat” pattern or AB=CD. https://fbs.com/img/articles/6398/15...1200_q90v3.png More: https://fbs.com/analytics/articles/u...Riki_Analytics |
Re: Market news and trade recommendations by FBS
AUD/USD: AUSSIE IN CORRECTION TO CLOUD
07:50 23.01.2018 Technical levels: support – 0.7950; resistance – 0.8030 Trade recommendations: Buy — 0.7950; SL — 0.7930; TP1 — 0.8030; TP2 — 0.8080. Reason: bullish Ichimoku Cloud with rising Senkou Span B; a golden cross of Tenkan-sen and Kijun-sen; the prices are in correction to the Cloud. https://fbs.com/img/articles/6399/15...1200_q90v3.png More: https://fbs.com/analytics/articles/a...-to-cloud-6399 |
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USD/JPY Daily Analytics
07:51 23.01.2018 Technical levels: support – 110.50; resistance – 111.00 Trade recommendations: Buy — 111.00; SL — 110.80; TP1 — 111.50; TP2 — 112.00. Reason: bearish Ichimoku Cloud with rising Senkou Span A; an irregular dead cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are entered into cloudy area and may continue growing up. https://fbs.com/img/articles/6400/15...1200_q90v3.png More: https://fbs.com/analytics/articles/u...Riki_Analytics |
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DOES BITCOIN REALLY HAVE A FAIR VALUE?
08:54 23.01.2018 Bitcoin is inflating and deflating from day to day like a bubble. Nowadays there are a lot of questions about Bitcoin and one of them is what its fair value is. Economists and analysts are trying to create their own formulas to count Bitcoin's value. So let’s look how they tried to do it. There are two parameters of a currency's fair value measurement. To measure the fair value, it is needed to identify a store value and an exchange value. Mostly, all economists who believe that Bitcoin has a value, make their calculations based on these two figures. Currency strategist at the Bank of America Merrill Lynch David Woo is one of them. Woo tried to compare Bitcoin to silver as a store of value but failed. The value was not determined. And later analysts of the bank declared that a true value for cryptocurrencies may be impossible to assess. Then Bitcoin also was compared to gold. Nowadays, the total amount of Bitcoin is much less than that of gold. However, real fans of Bitcoin believe that it will surpass gold in total value. There is another approach to this issue. Analyst of Credit Suisse Damien Boey estimated the Bitcoin fair value at $6,000. How did he count? He took into account the size of Bitcoin's network and the yield spread on BBB-rated bonds. So Bitcoin rises as more people use the network. He found out that Bitcoin price has a negative correlation to BBB credit spreads – the difference between the yield on BBB-rated debt. The price of Bitcoin depends on a financial policy of a government as well. In the next approach, economists were taking into account the distributed system of the currency. They gave value to Bitcoin because of its transactional system. But they concluded that it was wrong to assess the value based on convenience of payments because now Bitcoin is rarely used for buying anything. So economists came to the dead end again. However, we should not miss an opinion that Bitcoin does not have any value at all. For example, Richard Turnhill, a strategist for BlackRock Financial, the world largest money manager, world-class investors Warren Buffett from Berkshire Hathaway Inc. and Jamie Dimon from J.P. Morgan Chase & Co. said that Bitcoin is a bubble that can rise in a short-term, but it will burst anyway. https://fbs.com/img/articles/6402/15...1200_q90v3.png Conclusion When economists start to estimate Bitcoin, they meet 2 main problems. Firstly, Bitcoin is rarely used for buying anything. It is impossible to estimate its exchange value because nowadays transactions include only buying and selling Bitcoin, Bitcoin is not exchanged for anything else because of the permanently changing price. The total number of bitcoin transactions over the past year added up to less than one-tenth of 1 % of total e-commerce transactions. Secondly, considering a store of value, analysts met another problem. They compared cryptocurrency with silver and gold, but if we can hold metals, we cannot hold Bitcoins. Numbers of metals and cryptocurrency are not compared as well. Cryptocurrencies do not have underlying value like metals. Bitcoin cannot be guaranteed by an issuer because there is not any. That is why, we can come to the conclusion that the value of Bitcoin is created by users: as much as people believe in cryptocurrency, as much it increases. More: https://fbs.com/analytics/articles/d...Riki_Analytics |
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EUR/USD: "PENNANT" PATTERN
09:35 23.01.2018 https://fbs.com/img/articles/6403/15...1200_q90v3.png The main trend is still bullish, but there's an opportunity to have a bearish correction because of the last "Triple Top" pattern. So, we should keep an eye on the nearest support area at 1.2194 - 1.2164 as the next intraday target. https://fbs.com/img/articles/6403/15...1200_q90v3.png There's a "Pennant" pattern, so the pair is likely going to test the closest support at 1.2164 in the coming hours. If a pullback from this level happens little later on, there'll be a moment to have another bullish price movement. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
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[B]GBP/USD Daily Analytics[B]
09:39 23.01.2018 https://fbs.com/img/articles/6404/15...1200_q90v3.png Bulls faced with resistance at 1.4011, so there's a "V-Top" pattern. The main intraday target is the nearest support at 1.3895 - 1.3834. This area could be a departure point for an upward price movement in the direction of the next resistance at 1.3944 - 1.4011. https://fbs.com/img/articles/6404/15...1200_q90v3.png There's a developing bearish correction, so the market is likely going to test the closest support at 1.3834 during the day. Meanwhile, if a pullback from this level is on the table, bulls will probably try to achieve another resistance at 1.4011 - 1.4089. More: https://fbs.com/analytics/articles/g...Riki_Analytics |
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THE STABILITY OF THE BOJ POLICY
10:42 23.01.2018 Today is the day of the Bank of Japan meeting. The BOJ announced its Outlook Report. The key point is that the Bank kept its monetary policy unchanged. This meeting showed almost solid consent - eight to one member voted to leave interest rates at the same level of -0.1%. At the same time, the members claimed that quantitative and qualitative monetary easing (QQE) with yield curve control (YCC) program will be continued. The Bank is promising to buy Japanese government bonds so that 10-year JGB yields will remain around 0%. The Bank is going to “continue expanding the monetary base until the year-on-year rate of increase in the observed CPI exceeds 2% and stays above the target in a stable manner”. So the BOJ claims that it is going to continue with the current loose policy. However, there are speculations around this report, investors are expecting policy normalization soon. We can see it on a USD/JPY pair 4-hours chart. Despite the news about the unchanged Japanese monetary policy, USD/JPY is falling, the lowest price from the time of the announcement was 110.63. Technical analysis shows that USD/JPY is dangerously close to the support line from the 2016 low in 110 area. Very close to this area there is 100-week MA. These strong support levels will hold initial selling pressure. On the upside, the main obstacle is at 111.70 (200-day MA, 50-week MA). https://fbs.com/img/articles/6406/15...1200_q90v3.png More: https://fbs.com/analytics/articles/t...Riki_Analytics |
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EUR/USD Daily Analytics
12:29 23.01.2018 https://fbs.com/img/articles/6407/15...1200_q90v3.png There's an "Engulfing" pattern, which has been formed at the last high. So, the pair is likely going to test the 34 Moving Average, which could be a departure point for another upward price movement. https://fbs.com/img/articles/6407/15...1200_q90v3.png The 55 Moving Average acted as support, so there's a "High Wave" pattern. In this case, we could have a local upward correction. Nevertheless, bears are likely going to test the 89 MA afterwards. More: https://fbs.com/analytics/articles/eur-usd-engulfing-pattern-6407?utm_source=forum&utm_medium=affiliate&utm_cam paign=EN_English&utm_content=Riki_Analytics |
Re: Market news and trade recommendations by FBS
USD/JPY Daily Analytics
12:32 23.01.2018 https://fbs.com/img/articles/6408/15...1200_q90v3.png There's a bearish "Harami", which has been formed on the upper "Window". So, the market is likely going to test the lower "Window" in the short term. https://fbs.com/img/articles/6408/15...1200_q90v3.png The 89 Moving Average has acted as resistance once again, so there's a "Harami" pattern. Therefore, the market is likely going to continue moving down in the coming hours. More: https://fbs.com/analytics/articles/u...Riki_Analytics |
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EUR/USD Daily Analytics
12:39 23.01.2018 https://fbs.com/img/articles/6409/15...1200_q90v3.png There's a pullback from 4/8 MM Level, so wave [iv] might have been formed. Therefore, we're likely going to have an upward impulse in wave [v] of 5 in the coming days. The main intraday target is 6/8 MM Level. https://fbs.com/img/articles/6409/15...1200_q90v3.png As we can see on the one-hour chart, there's a possible triangle in wave [iv]. If correct, wave [v] is going to begin anytime soon. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
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EUR/USD Daily Analytics
05:50 24.01.2018 Technical levels: support – 1.2270; resistance – 1.2390. Trade recommendations: Buy — 1.2310/20; SL — 1.2300; TP1 — 1.2390; TP2 — 1.2430 Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are supported by Cloud, Tenkan-sen and Kijun-sen and a market is ready to go higher. https://fbs.com/img/articles/6422/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...new-highs-6422 |
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GBP/USD Daily Analytics
05:52 24.01.2018 Technical levels: support – 1.4000; resistance – 1.4070. Trade recommendations: Buy — 1.4000; SL — 1.3880; TP1 — 1.4070; TP2 — 1.5000. Reason: bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines; a market reached new highs over 1.4000. https://fbs.com/img/articles/6423/15...1200_q90v3.png More: https://fbs.com/analytics/articles/g...Riki_Analytics |
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USD/CHF Daily Analytics
06:38 24.01.2018 Recommendation: BUY 0.9665 SL 0.961 TP1 0.973 TP2 0.9775 TP3 0.98 BUY 0.949 SL 0.9435 TP1 0.9555 TP2 0.964 TP3 0.973 On the daily chart, USD/CHF keeps forming the “Bat” pattern with a target of 88.6%. For now, bulls and bears are fighting for 78.6% of the wave XA. If bears manage to conquer it, the decline will continue. On the other hand, rebound from the current support will increase the possibility of a pullback. https://fbs.com/img/articles/6426/15...1200_q90v3.png On H1, USD/CHF there may be a formation of a “Widening wedge”. To do that bulls will need to return the pair to resistance at 0.9665. https://fbs.com/img/articles/6426/15...1200_q90v3.png More: https://fbs.com/analytics/articles/u...Riki_Analytics |
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GBP/USD Daily Analytics
06:47 24.01.2018 Recommendation: BUY 1.3935 SL 1.388 TP1 1.405 TP2 1.415 TP3 1.425 On the daily chart, GBP/USD is trading in an uptrend. The pair reached 161.8% of the AB=CD pattern. This increases the possibility of a pullback. On the other hand, a successful test of resistance at 1.4050 will allow talking about the continuation towards the convergence area of 1.4250-1.2495. https://fbs.com/img/articles/6427/15...1200_q90v3.png On H1, there’s a “Spike and reversal with acceleration pattern”. A break of support at 1.3935 will create grounds for correction to 1.3815 and 1.3745. At these levels, buyers will become more active. https://fbs.com/img/articles/6427/15...1200_q90v3.png More: https://fbs.com/analytics/articles/g...Riki_Analytics |
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EUR/USD Daily Analytics
12:57 24.01.2018 https://fbs.com/img/articles/6434/15...1200_q90v3.png The main trend is still bullish, so the market is likely going to test the nearest resistance at 1.2358 - 1.2456. If a pullback from this area happens, there'll be an opportunity to have a decline towards the nearest support at 1.2322 - 1.2272. https://fbs.com/img/articles/6434/15...1200_q90v3.png There's no any reversal pattern, so the pair is likely going to test the next resistance at 1.2358 - 1.2398 during the day. This area could be a departure point for a bearish correction towards the closest support at 1.2358 - 1.2322. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily analytics
12:59 24.01.2018 https://fbs.com/img/articles/6435/15...1200_q90v3.png Bulls faced with resistance at 1.4089. Nevertheless, the market is likely going to test the next resistance at 1.4129 - 1.4206 soon. If a pullback from these levels happens little later on, we could have a downward correction. https://fbs.com/img/articles/6435/15...1200_q90v3.png There's a new local high. Meanwhile, if a pullback from the nearest resistance at 1.4129 happens, there'll be an opportunity to have a bearish correction towards the closest support at 1.4089 - 1.4027. More: https://fbs.com/analytics/articles/g...Riki_Analytics |
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EUR/USD Daily Analytics
13:03 24.01.2018 https://fbs.com/img/articles/6436/15...1200_q90v3.png There's no any reversal pattern so far, but we could have a local bearish correction in the coming hours. Nevertheless, the market is likely going to continue moving up afterwards. https://fbs.com/img/articles/6436/15...1200_q90v3.png We've got a bearish "Shooting Star", which hasn't been confirmed yet. In this case, the 55 Moving Average is likely going to act as support. A pullback from this line will be a green light for another bullish rally. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
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USD/JPY Daily analytics
13:06 24.01.2018 https://fbs.com/img/articles/6437/15...1200_q90v3.png The price has reached the lower "Window", but there isn't any bullish pattern. So, the market is likely going to continue moving down in the short term. https://fbs.com/img/articles/6437/15...1200_q90v3.png All the last candles are bearish, so the isn't any reversal model. Therefore, the market is likely going to declining towards the next support area. More: https://fbs.com/analytics/articles/u...Riki_Analytics |
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WHAT TO EXPECT FROM THE ECB MEETING?
08:37 25.01.2018 Today we are waiting for the news from the European Central Bank. The ECB press conference will be held at 15:30 MT time. It is worth to say that last time in December the ECB left its monetary policy unchanged. So let’s see what we can expect from this meeting. Most of the economists suppose that the ECB will not change the monetary policy again because of an obstacle - the continuing quantitative easing that it promised to hold until September 2018. However, we can say that this time the most interesting part of the conference is not interest rates, but comments of the bank President. First of all, Mario Draghi will face a huge number of questions over how fast the central bank is going to change its policy. Secondly, his address and comments will affect the EUR/USD pair. The pair was rising since the beginning of 2017 and recently achieved a new 3-year high. Such growth creates worries for the ECB because continuing rise of the currency is not good for the economy. That is why the ECB should gradually shift its stance to avoid a more destructive move in the future. And it is what economists are waiting from Draghi, they expect him to announce gradual policy changes. Although no one expects immediate changes in the ECB policy, traders will pay a lot of attention to the speech of the President. During the conference, the single currency will be vulnerable. As for numbers, analysts from Danske Bank forecast the fall of the single currency to 1.20 in short-term, but not lower. However, it is expected to surge to 1.28 by the end of the year, if only inflation will grow to 2%. So we can say that the ECB monetary policy will likely stay stable but the conference will affect the EUR/USD pair a lot. Considering future, economists are looking for policy changes in March/April meetings. More forecasts on EUR/USD rate you can find More: https://fbs.com/analytics/articles/w...Riki_Analytics |
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EUR/JPY Daily Analytics
09:21 25.01.2018 Recommendation: SELL 134.95 SL 135.5 TP1 134.3 TP2 133.7 BUY 136.2 SL 135.65 TP 137.2 TP2 138 On the daily chart, EUR/JPY is consolidating in the 135.00-136.40 area. A break of its upper border will increase the odds of advance to 127.2% of AB=CD pattern. The nearest support level is near 134.30. https://fbs.com/img/articles/6452/15...1200_q90v3.png On H1, EUR/JPY is retesting the neckline of “Head and Shoulders”. A break below correction low will allow bears to count on the continuation of a pullback. On the other hand, advance above 136.20 will increase the risks of uptrend’s resumption. https://fbs.com/img/articles/6452/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...Riki_Analytics |
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USD/JPY Daily Analytics
09:29 25.01.2018 Recommendation: BUY 109.45 SL 108.9 TP1 110 TP2 110.45 On the daily chart, a return of the pair inside the downtrend channel shows that bears have total control. Never the less, there may be a small pullback from 78.6% and 88.6% of the wave XA of the “Bat” pattern. https://fbs.com/img/articles/6454/15...1200_q90v3.png On H1, a pullback of USD/JPY from 200% target of AB=CD with the following formation of Anti-Turtles will signal potential correction. For a start, bulls have to push the pair above 109.45. https://fbs.com/img/articles/6454/15...1200_q90v3.png More: https://fbs.com/analytics/articles/u...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
10:01 25.01.2018 [IMG]https://fbs.com/img/articles/6455/1516874355-0925cd5297de99fbba068ef5f8189441_1200x1200_q90v3.p ng[IMG] Bulls faced with resistance at 1.2456, so the market is likely going to test the nearest support at 1.2358 - 1.2322. If a pullback from this area happens little later on, there'll be an opportunity to have an upward price movement towards the next resistance at 1.2456 - 1.2500. https://fbs.com/img/articles/6455/15...1200_q90v3.png There's a "V-Top" pattern, so the pair is likely going to achieve the closest support at 1.2358. This level could be a departure point for a bullish price movement in the direction of another resistance at 1.2456 - 1.2500. More: https://fbs.com/analytics/articles/e...o-decline-6455 |
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GBP/USD Daily analytics
10:06 25.01.2018 https://fbs.com/img/articles/6456/15...1200_q90v3.png The main trend is still bullish, but the pair faced resistance at 1.4331, so there's an opportunity to have a downward correction towards the nearest support at 1.4129 - 1.4089. If we have a pullback from this area little later on, bulls will probably try to test the next resistance at 1.4386 - 1.4433. https://fbs.com/img/articles/6456/15...1200_q90v3.png We've got a "V-Top" pattern, which has been formed at the last local high. The main intraday target is the closest support at 1.4195 - 1.4129. However, if a pullback from these levels arrives afterwards, there'll be a moment to have another upward price movement in the direction of the nearest resistance at 1.4386 - 1.4433. More: https://fbs.com/analytics/articles/g...Riki_Analytics |
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EUR/USD Daily Analytics
11:16 25.01.2018 https://fbs.com/img/articles/6457/15...1200_q90v3.png There're a "High Wave" and a "Harami" patterns, which have been formed at the last high. Therefore, the price is likely going to test the 21 Moving Average, which could be a departure point for another bullish price movement. https://fbs.com/img/articles/6457/15...1200_q90v3.png We've got a "Three Black Crows" pattern, which has been confirmed. In this case, we should keep an eye on the 55 Moving Average as an intraday bearish target. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
USD/JPY Daily Analytics
11:19 25.01.2018 https://fbs.com/img/articles/6458/15...1200_q90v3.png There's still no any reversal pattern so far, which means the price is likely going to continue declining towards the lower "Window". If any bullish pattern forms little later on, there'll be a moment to have an upward correction https://fbs.com/img/articles/6458/15...1200_q90v3.png We've got a bearish "Engulfing", but this pattern hasn't been confirmed yet. So, there's an opportunity to have a local bearish correction in the coming hours. Nevertheless, bears are likely going to test the next support area afterwards. More: https://fbs.com/analytics/articles/u...Riki_Analytics |
Re: Market news and trade recommendations by FBS
WHY THE DOLLAR FELL SO LOW?
11:29 25.01.2018 We are seeing the fall of the US dollar since the end of December 2017, but US Treasury secretaries preferred to say little about it until this Wednesday. The US made the biggest fall since December 2014 when the Treasury Secretary Steven Mnuchin claimed on Wednesday that “a weaker dollar is good for us as it relates to trade”. The Secretary made his comment in Davos, Switzerland during the World Economic Forum, where a lot of people are waiting for the Donald Trump’s address What did he really say? Mnuchin said that a cheaper dollar increases export demand. And he is right. Mnuchin claimed that the US wants fair economic competition and reciprocal trade. Tax cuts make the US more attractive for investments. He believes that where the dollar is in short-term reflects a very liquid market, but the long-term level will support the strength of the economy. However, despite positive comments about the US policy, the market reacted to the confirmation of dollar weakness and the dollar fell losing 0.8% against the Euro. https://fbs.com/img/articles/6459/15...1200_q90v3.png But we cannot say that Mnuchin’s words were crucial for the USD. We should not forget that overseas economic growth and shifting perceptions of monetary policy have been causing the dollar weakness as well. So the fall was expected but maybe not at such rate. Summing up the Secretary’s statement, we can suppose that the US will not act to strengthen the dollar now. However, it is important to remember that depreciation adds pressure on inflation. So the Fed will have to take it under control. But if inflation rises, the Fed will have to tighten its monetary policy and it will change the US dollar rate. More: https://fbs.com/analytics/articles/w...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
06:07 26.01.2018 Technical levels: support – 1.2370; resistance – 1.2460, 1.2530. Trade recommendations: Buy — 1.2420/30; SL — 1.2400; TP1 — 1.2460; TP2 — 1.2530 Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are reached new highs and corrected to local support of Kijun-sen. https://fbs.com/img/articles/6466/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily Analytics
06:09 26.01.2018 Technical levels: support – 1.4100, 1.4140; resistance – 1.4300. Trade recommendations: Buy — 1.4140; SL — 1.4120; TP1 — 1.4270; TP2 — 1.4300. Reason: bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; a market returned to the support of Kijun-sen and may continue an uptrend. https://fbs.com/img/articles/6467/15...1200_q90v3.png More: https://fbs.com/analytics/articles/g...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
06:58 26.01.2018 Recommendation: SELL 1.2360 SL 1.2415 TP1 1.2305 TP2 1.2200 On the daily chart, EUR/USD is forming “Spike and reversal with acceleration” pattern. To change the trend to the downward the euro should return to 1.19. That is unlikely. On the other hand, a pin bar near the lower border of the current uptrend increases the risks of a pullback. https://fbs.com/img/articles/6471/15...1200_q90v3.png On H1, EUR/USD formed a reversal “Widening wedge”. Aggressive selling will become a priority if the euro returns to 23.6% of the wave 4-5. Conservative selling may start when the euro reaches point 5. https://fbs.com/img/articles/6471/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/GBP Daily Analytics
07:40 26.01.2018 Recommendation: SELL 0.8700 SL 0.8755 TP1 0.8600 TP2 0.8450 On the daily chart, EUR/GBP tested the lower border of the 0.8740-0.9015 for the fourth time since September. The inability of bears to continue what they have begun will point at their weakness. On the other hand, if the pair renews January low, the odds of decline to 2% target of AB=CD will increase. https://fbs.com/img/articles/6472/15...1200_q90v3.png On H1, EUR/GBP managed to lead the pair outside of the descending trade channel. To return the initiative, bears need to make the euro go below support at 0.8740. https://fbs.com/img/articles/6472/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
11:44 26.01.2018 https://fbs.com/img/articles/6476/15...1200_q90v3.png The main trend is still bullish, so we should keep an eye on the next resistance at 1.2500 - 1.2537 as an intraday target. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the nearest support at 1.2456 - 1.2358. https://fbs.com/img/articles/6476/15...1200_q90v3.png There's a possible "V-Top", so the pair is likely going to test the closest support at 1.2398. This level could be a departure point for another upward price movement in the direction of the next resistance at 1.2500 - 1.2537. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily Analytics
11:47 26.01.2018 https://fbs.com/img/articles/6477/15...1200_q90v3.png Bulls faced with resistance at 1.4331, so there's a "Double Top" pattern. Nevertheless, the market is likely going to achieve the next resistance at 1.4386 - 1.4433 soon. If a pullback from this area happens, we could have a bearish correction. https://fbs.com/img/articles/6477/15...1200_q90v3.png The 55 Moving Average has acted as support, so the price is consolidating. In this case, we should keep an eye on the closest support at 1.4129. Meanwhile, if we have a pullback from this level, there'll be an opportunity to have a bullish price movement towards the next resistance at 1.4327 - 1.4344. More: https://fbs.com/analytics/articles/g...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
11:50 26.01.2018 https://fbs.com/img/articles/6478/15...1200_q90v3.png There's a "Piercing Line" pattern, which has been confirmed. So, if the 21 Moving Average acts as support, there'll be an opportunity to have a new local high. https://fbs.com/img/articles/6478/15...1200_q90v3.png We've got a "Harami" and a "High Wave", but both patterns haven't been confirmed yet. Therefore, the 34 MA is likely going to act as support. If so, bulls will probably try to reach the next resistance area. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
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