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Re: Market news and trade recommendations by FBS
USD/JPY Daily Analytics
11:53 26.01.2018 https://fbs.com/img/articles/6479/15...1200_q90v3.png There's a bearish "Doji" pattern at the last local high. In this case, the price is likely going to test the lower "Window" once again. https://fbs.com/img/articles/6479/15...1200_q90v3.png The last "Doji" pattern has been confirmed, so the price is declining. It's likely to have a local bullish correction during the day. If a pullback from the 21 MA happens little later on, there'll be a moment to have another decline. More: https://fbs.com/analytics/articles/u...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
06:04 29.01.2018 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, with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are returned into channel Tenkan-Kijun and supported by Kijun-sen. https://fbs.com/img/articles/6497/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily Analytics
06:05 29.01.2018 Technical levels: support – 1.4130; resistance – 1.4210. Trade recommendations: Buy — 1.4140; SL — 1.4120; TP1 — 1.4210; TP2 — 1.4270. Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; a market returned into channel Tenakn-Kijun and may bounced from Kijun-sen to the positive area. https://fbs.com/img/articles/6498/15...1200_q90v3.png More: https://fbs.com/analytics/articles/g...Riki_Analytics |
Re: Market news and trade recommendations by FBS
AUD/USD Daily Analytics
07:14 29.01.2018 AUD/USD: Aussie made a halt Recommendations: BUY 0.812 SL 0.8065 TP 0.822 BUY 0.805 SL 0.795 TP1 0.815 TP2 0.822 SELL 0.8005 SL 0.806 TP 0.79 On the daily chart, AUD/USD “bulls” attempted to activate pattern AB=CD with a target at 127,2%, that failed. If Aussie comes back to the support level at $0,805, there will be risks of a pullback in the direction of $0,799 and $0,79. https://fbs.com/img/articles/6502/15...1200_q90v3.png On the hour chart, if AUD/USD falls below the support line in 0.8005, it will activate a pattern “Widening wedge”. On the other side, a hit of the support level at 0.8120 will be a sign the bullish trend’s resumption. https://fbs.com/img/articles/6502/15...1200_q90v3.png More: https://fbs.com/analytics/articles/a...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
10:24 29.01.2018 https://fbs.com/img/articles/6510/15...1200_q90v3.png The main trend is still bullish, but the price is consolidating between the levels 1.2569 - 1.2358. It's likely that the pair is going to test the next support at 1.2322 - 1.2272 in the coming hours. If a pullback from this area happens little later on, there'll be an opportunity to have an upward price movement in the direction of the nearest resistance at 1.2456 - 1.2500. https://fbs.com/img/articles/6510/15...1200_q90v3.png There's a "V-Top" pattern, but the 34 Moving Average is acting as support, so the market is going to test the closest resistance at 1.3456. A pullback from this level could be a departure point for a decline towards the 55 MA. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily Analytics
10:28 29.01.2018 https://fbs.com/img/articles/6512/15...1200_q90v3.png The last "Double Top" pattern led to the current decline. The main intraday target is the 34 Moving Average. If a pullback from this line happens little later on, there'll be an opportunity to have another bullish pice movement. https://fbs.com/img/articles/6512/15...1200_q90v3.png The price is consolidating between the 34 & 55 Moving Averages. It's likely that the pair is going to test the nearest resistance at 1.4206, which could be a departure point for a decline in the direction of the next support at 1.4011. More: https://fbs.com/analytics/articles/g...Riki_Analytics |
Re: Market news and trade recommendations by FBS
USD/JPY Daily Analytics
12:46 29.01.2018 https://fbs.com/img/articles/6514/15...1200_q90v3.png The pair has reached the lower "Window", but the price remains below the middle of the last huge black candle. In this case, the market is likely going to test the next "Window" soon. https://fbs.com/img/articles/6514/15...1200_q90v3.png There's a "Harami", which has been formed on the 21 Moving Average. Therefore, the pair is likely going to continue moving down in the short term. More: https://fbs.com/analytics/articles/u...er-window-6514 |
Re: Market news and trade recommendations by FBS
XAU/USD Daily Analytics
07:57 30.01.2018 Recommendations: BUY $1324 SL $1309 TP1 $1354 TP2 $1374 TP3 $1394 SELL $1302 SL $1317 TP1 $1267 TP2 $1240 On the daily chart, XAU/USD has reached the targets of “Three Indians” pattern. As long as gold is trading above support at $1302-1306 an ounce, bulls remain in control. It would be wise to use a pullback from these levels to buy with targets at 127.2% of the AB=CD pattern. On the other hand, the metal’s decline below the key support will increase the risks of the reversal “Widening wedge”. https://fbs.com/img/articles/6533/15...1200_q90v3.png On H1, XAU/USD formed a “Head and Shoulders” pattern. https://fbs.com/img/articles/6533/15...1200_q90v3.png More: https://fbs.com/analytics/articles/x...Riki_Analytics |
Re: Market news and trade recommendations by FBS
USD/CAD Daily Analytics
08:09 30.01.2018 Recommendation: BUY 1.2390 SL 1.2335 TP 1.2490 SELL 1.2295 SL 1.235 TP1 1.2195 TP2 1.2095 On the daily chart, the exit of USD/CAD outside of the triangle increases the risks of the downtrend’s resumption. The pair triggered AB=CD pattern with target at 200%. Formation of the inside bars points at the uncertainty. https://fbs.com/img/articles/6534/15...1200_q90v3.png On H1, USD/CAD is consolidating in the 1.2295-1.2390 range. A break of its upper border may trigger the “Bat” pattern. On the other hand, decline below support at 1.2295 will make the pair vulnerable for a further slide. https://fbs.com/img/articles/6534/15...1200_q90v3.png More: https://fbs.com/analytics/articles/u...Riki_Analytics |
Re: Market news and trade recommendations by FBS
ITALIAN ELECTION: IS THE EURO UNDER RISK?
09:25 30.01.2018 Italian election is supposed to create volatility of the euro in the next month. The election is appointed on March 4, but talks about its destroying effect on the euro have already started. The opponent of the government under the guidance of Paolo Gentiloni is a new-formed center-right coalition that consists of Mr. Berlusconi's party Forza Italia, Mr. Salvini’s party Lega Nord, and national-conservative political party Fratelli d'Italia. berluskoni02.jpg Nowadays, there is discordance in a coalition on a key issue of participation of Italy in the European Union, that will create volatility of the euro. A leader of the Italian party Lega Nord, Matteo Salvini, is ready to leave the European Union and the Eurozone unless Brussels changes the current treatment Italy receives. He wants fewer constraints from the European Union. At the same time, other allies do not consider the exit from the EU. The European issue is not the most important in the Italian election. The percent of Salvini’s party in the coalition even if the coalition wins, is not so big, it means that he will not be able to find support in a parliament and bring Italy to the exit. However, talks about the exit will affect the euro during the pre-election period. pensioni-notizie-precoci-salvini.jpg Another important issue is the strength of the government. Nowadays, the Italian economy is the third-biggest economy of the Eurozone after Germany and France. It means that any changes in its policy affect not only the country itself but the Eurozone as well. The important issue is that the ECB is planning to reduce its stimulus. It can cause a burst of market volatility, that will lead to more expansive borrowing for Italian government from capital markets. Such risks can spread to other countries included in the Eurozone. If the government is weak and does not support the European Union, it will create problems for the EU and the euro as well. The EU needs the strong government that will be able to enact new laws and support its policy. To sum up, we can say that the possibility of the Italian exit from the European Union and the Eurozone is low. However, the Italian election will affect the euro and Forex market in general. Talks about the Italian exit and dissent in the coalition will create the euro volatility, so Forex traders should be more careful during the pre-election period. More: https://fbs.com/analytics/articles/i...nder-risk-6535 |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
09:48 30.01.2018 https://fbs.com/img/articles/6536/15...1200_q90v3.png The main trend is still bullish, but there's a "Double Top" pattern, which has been confirmed. So, the pair is likely going to test the nearest support at 1.2300 - 1.2272 in the short term. If a pullback from this area happens little later on, there'll be a moment to have another bullish price movement. https://fbs.com/img/articles/6536/15...1200_q90v3.png The 89 Moving Average has acted as support, so the price is consolidating. Therefore, the market is likely going to achieve the closest resistance at 1.2398. This level could be a departure point for a decline towards the next support at 1.2300 - 1.2272. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily Analytics
09:51 30.01.2018 https://fbs.com/img/articles/6537/15...1200_q90v3.png We've got a "Double Top" pattern, which has been confirmed. The main intraday target is the 55 Moving Average. If a pullback from this line happens afterwards, there'll be a moment to have another upward price movement. https://fbs.com/img/articles/6537/15...1200_q90v3.png All the Moving Averages have been broken, but there's a "V-Bottom" pattern, so the pair is likely going to reach the nearest resistance at 1.4082. If we have a pullback from this level, bears will probably try to achieve the next support at 1.3915 - 1.3884. More: https://fbs.com/analytics/articles/g...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
11:47 30.01.2018 https://fbs.com/img/articles/6538/15...1200_q90v3.png There are bullish patterns such a "Tweezers" and a "Hammer", which both have been formed at the last local low. Therefore, the market is likely going to test the nearest resistance area in the short term. https://fbs.com/img/articles/6538/15...1200_q90v3.png The 89 Moving Average has acted as support, so there's an "Inverted Hammer", which has been confirmed enough. In this case, the pair is likely going to continue moving up in the coming hours. More: https://fbs.com/analytics/articles/e...s-support-6538 |
Re: Market news and trade recommendations by FBS
USD/JPY Daily Analitics[/B]
12:13 30.01.2018 https://fbs.com/img/articles/6539/15...1200_q90v3.png There's a bearish "Harami", which has been formed at the last local high. Considering confirmation of this pattern, the market is likely going to test the next lower "Window" soon. https://fbs.com/img/articles/6539/15...1200_q90v3.png We've got a "Harami" and an "Engulfing" patterns, which both have been formed on the 34 Moving Average. Therefore, the price is likely going to continue declining, which means we could have a new local low in the short term. More: https://fbs.com/analytics/articles/u...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
05:44 31.01.2018 Technical levels: support – 1.2400; resistance – 1.2460, 1.2530. Trade recommendations: Buy — 1.2400/20; SL — 1.2380; TP1 — 1.2460; TP2 — 1.2530 Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market is inside of channel Tenkan-Kijun and supported by Tenkan-sen. https://fbs.com/img/articles/6552/15...1200_q90v3.png More https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily Analytics
05:45 31.01.2018 Technical levels: support – 1.4070; resistance – 1.4180, 1.4210. Trade recommendations: Buy — 1.4150; SL — 1.4130; TP1 — 1.4210; TP2 — 1.4270. Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the narrowing channel Tenkan-Kijun; the prices supported by Senkou Span A and returned to Kijun-sen. https://fbs.com/img/articles/6553/15...1200_q90v3.png More: https://fbs.com/analytics/articles/g...Riki_Analytics |
Re: Market news and trade recommendations by FBS
USD/CHF Daily Analytics
06:58 31.01.2018 Recommendation: SELL 0.9310 SL 0.9365 TP1 0.9210 TP2 0.9110 TP3 0.9030 BUY 0.9395 SL 0.9340 TP 0.9465 TP2 0.9500 TP3 0.9600 On the daily chart, USD/CHF formed a short-term consolidation. A decline below January low will allow the pair to continue the decline towards 161.8% target of the “Crab” pattern. The nearest resistance levels are near 0.9410 and 0.9485. https://fbs.com/img/articles/6556/15...1200_q90v3.png On H1, there’s a “Spike and ledge” pattern. A break of the lower border of the 0.9310-0.9395 consolidation range will open the way down for bears. On the other hand, successful test of resistance at 0.9395 will increase the odds of a pullback. https://fbs.com/img/articles/6556/15...1200_q90v3.png More: https://fbs.com/analytics/articles/u...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily Analytics
07:05 31.01.2018 Recommendation: BUY 1.4285 SL 1.423 TP1 1.4385 TP2 1.461 TP3 1.4715 On the daily chart, GBP/USD pulled back after reaching 200% target of the AB=CD pattern. Advance beyond January high will allow the pound to continue rising towards $1,4610. As long as the pair’s trading above $1,405, bulls remain in control. https://fbs.com/img/articles/6557/15...1200_q90v3.png On H1, GBP/USD keeps forming “Spike and reversal with acceleration”. The inability of bears to return the pair inside the uptrend points at their weakness. https://fbs.com/img/articles/6557/15...1200_q90v3.png More: https://fbs.com/analytics/articles/g...Riki_Analytics |
Re: Market news and trade recommendations by FBS
WILL DOVISH YELLEN BECOME HAWKISH?
11:51 31.01.2018 Janet Yellen leaves the post of the Fed chair this Friday, February 2. The policy of Yellen was known more as dovish, she used to be cautious and did not hurry to tighten policy more than necessary. However, now experts expect a hawkish-sounding speech from her. The final meeting of Yellen as a chair of the Fed has started yesterday and ends today on Wednesday, January 31. Janet Yellen has spent 4 years as the chair of the Federal Reserve. She began the slow process of normalizing interest rates after her predecessor led interest rates to zero during the financial crisis in 2008. Yellen also started reducing the Fed’s $4 trillion balance sheet. Her policy is highly appreciated (although apparently not by Donald Trump). https://fbs.com/img/articles/6562/15...1200_q90v3.jpg So what will she say in her last speech? During this meeting, Donald Trump’s recent tax cuts will be discussed. It is possible that Yellen will announce a positive effect of tax cuts. This conclusion is based on holiday consumer spending and business investment. So it could mean that interest rates will rise more likely sooner than later. But at the same time, it will depend on the new Chairman Mr. Powell, who is supposed to continue the policy of Yellen, however, we may see some deviations. Also, experts are waiting for bullish commentary regarding the economy in general. For example, J.P. Morgan economists expect that the Fed will describe the economy in a positive way adding that “easy financial conditions” support the growth. Such indicators as higher commodities prices and progress in manufacturing and services sector will support the hawkish mood of the Yellen’s speech. Although inflation is below target, it has firmed and core inflation rebound will be taken as the main indicator of a positive forecast. However, experts do not expect any increase in interest rates now, but they suppose that positive comments about the US economy will give a sign of an interest rates rise in March. Despite the anticipated hawkish-sounding speech, the US dollar decreased against most other major currencies. But other events, such as Trump’s unclear address, should be taken into account as well. Making a conclusion, we can say that in spite of the fact that Yellen’s policy was evaluated mostly as dovish her last speech as the chair of the Fed is supposed to be hawkish because of the good indicators of the economic growth and first results of tax cuts. The Fed will not make any statements about the interest rate, however, the address of Yellen will give clues of its soon rise. More: https://fbs.com/analytics/articles/w...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
11:53 31.01.2018 https://fbs.com/img/articles/6563/15...1200_q90v3.png The price is consolidating between the levels 1.2456 - 1.2322. The main intraday target is the nearest resistance at 1.2500 - 1.2537. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the next support at 1.2358 - 1.2322. https://fbs.com/img/articles/6563/15...1200_q90v3.png There's a "V-Top" pattern, so the pair is likely going to test the 55 Moving Average. If a pullback from this line happens, bulls will probably try to reach another 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
11:56 31.01.2018 https://fbs.com/img/articles/6564/15...1200_q90v3.png The 34 Moving Average has acted as support, so there's a "Double Bottom" pattern. In this case, the price is likely going to achieve the closest resistance area at 1.4284 - 1.4344. https://fbs.com/img/articles/6564/15...1200_q90v3.png There's a local "V-Top" pattern, so the pair is likely going to test the 89 Moving Average. This line could be a departure point for an upward price movement in the direction of the next resistance at 1.4284 - 1.4344. More: https://fbs.com/analytics/articles/g...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
12:00 31.01.2018 https://fbs.com/img/articles/6565/15...1200_q90v3.png The last "Tweezers" and "Hammer" patterns are still on the table, cause there isn't any reversal model so far. In this case, the market is likely going to continue moving higher in the short term. https://fbs.com/img/articles/6565/15...1200_q90v3.png The 34 & 55 Moving Averages have acted as support. Also, there's a bullish "Three Methods" pattern, so the market is likely going to reach the next resistance area soon. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
USD/JPY: FLAT UNDER MOVING AVERAGES
12:03 31.01.2018 https://fbs.com/img/articles/6566/15...1200_q90v3.png The price is consolidating under the Moving Averages. There isn't any confirmed bullish pattern, so the pair is likely going to continue moving lower towards the next "Window". https://fbs.com/img/articles/6566/15...1200_q90v3.png There's a "High Wave" pattern, so the price is likely going to test the nearest upper "Window". If a pullback from this level happens little later on, we could have another decline. More: https://fbs.com/analytics/articles/u...Riki_Analytics |
Re: Market news and trade recommendations by FBS
AUD/USD Daily Analytics
06:35 01.02.2018 Technical levels: support – 0.7970; resistance – 0.8080 Trade recommendations: Buy — 0.7980; SL — 0.7960; TP1 — 0.8040; TP2 — 0.8080. Reason: bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; a market in correctional movement and entered into the cloudy area. https://fbs.com/img/articles/6583/15...1200_q90v3.png More: https://fbs.com/analytics/articles/a...Riki_Analytics |
Re: Market news and trade recommendations by FBS
USD/JPY Daily Analytics
06:37 01.02.2018 Technical levels: support – 108.50; resistance – 110.00. Trade recommendations: Sell — 110.00; SL — 110.20; TP1 — 109.00; TP2 — 108.50. Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a cancelled dead cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the prices have grown to the bottom border of the Cloud. https://fbs.com/img/articles/6584/15...1200_q90v3.png More: https://fbs.com/analytics/articles/u...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/JPY Daily Analytics
07:23 01.02.2018 Recommendation: BUY 136.25 SL 135.70 TP1 137.25 TP2 138.10 On the daily chart, EUR/JPY retested the upper border of the previous consolidation range of 131.50-134.30. This and the following formation of a pinbar will allow bulls to return initiative. The necessary condition to continue advance towards 127.2% of the AB=CD pattern is the confident test of resistance at 136.25. https://fbs.com/img/articles/6585/15...1200_q90v3.png On H1, EUR/JPY the inability of bears to lead the pair below 38.2% of the last bullish wave points at their weakness. A break of resistance at 136.25 will open the way to the upside. https://fbs.com/img/articles/6585/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
USD/JPY Daily Analytics
08:27 01.02.2018 Recommendations: SELL 110.1 SL 110.65 TP 109.10 TP2 108.20 SELL 110.65 SL 111.2 TP1 109.65 TP2 108.65 On the daily chart, a natural pullback happened after USD/JPY reached 88.6% target of the “Bat” pattern. If bears manage to hold the pair within inside the downward trading channel, chances of a sharp decline’s continuation will increase substantially. https://fbs.com/img/articles/6588/15...1200_q90v3.png On the hour chart, a break of resistance at 109.50 will increase the risks of activation of the “Shark” pattern with a target of 88.6%. In an obvious bearish trend, rebounds from levels of 110.05-110.15 and 110,65 should be used for selling. https://fbs.com/img/articles/6588/15...1200_q90v3.png More: https://fbs.com/analytics/articles/u...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
12:25 01.02.2018 https://fbs.com/img/articles/6591/15...1200_q90v3.png The main trend is still bullish, but the price is consolidating. It's likely that the market is going to test the nearest resistance at 1.2500 - 1.2537. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the closest support at 1.2456 - 1.2358. https://fbs.com/img/articles/6591/15...1200_q90v3.png The pair is consolidating between the levels 1.2456 - 1.2384. The main intraday target is the next resistance area at 1.2493 - 1.2537, which could be a departure point for a bearish correction. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily Analytics
12:27 01.02.2018 https://fbs.com/img/articles/6592/15...1200_q90v3.png There's a "Double Bottom", so the market is likely going to reach the closest resistance at 1.4344. If a pullback from this level happens afterwards, there'll be a moment to have a downward correction. https://fbs.com/img/articles/6592/15...1200_q90v3.png Bulls faced resistance at 1.4284, but the market is likely going to continue moving higher in the short term. The main intraday target is the next resistance at 1.4344 - 1.4386 More: https://fbs.com/analytics/articles/g...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD: BULLISH "HAMMER" ON THE 55 MA
12:30 01.02.2018 https://fbs.com/img/articles/6593/15...1200_q90v3.png The 21 Moving Average acted as support, so there're a "Tweezers" and a "High Wave" patterns. In this case, the market is likely going to continue rising towards the last high. https://fbs.com/img/articles/6593/15...1200_q90v3.png There's a bullish "Hammer", which has been formed on the 55 Moving Average. Therefore, bulls are likely going to achieve the next resistance area in the short term. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
USD/JPY Daily Analytics
12:33 01.02.2018 https://fbs.com/img/articles/6594/15...1200_q90v3.png There's no any reversal pattern so far, which means the price is likely going to test the upper "Window" soon. If a pullback from this level, there'll be a moment to have a local decline. https://fbs.com/img/articles/6594/15...1200_q90v3.png All the Moving Averages have been broken, so the price is rising. If any bearish pattern forms soon, bears will probably try to test the nearest support. More: https://fbs.com/analytics/articles/u...rn-so-far-6594 |
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DOES THE POUND HAVE CHANCES FOR FURTHER STRENGTHENING?
14:20 01.02.2018 The pound rose from 1.35 versus the US dollar at the start of the year to 1.4345 on January 25. Then there was a pullback down, but starting from Wednesday, January 31, GBP/USD once again headed up. As a result, British currency showed in January its best monthly performance since May 2009. https://fbs.com/img/articles/6597/15...1200_q90v3.png The rise happened because of the several reasons. First of all, the weaker US dollar has been supporting the rise of many currencies during a long period. The pound added than 5% since the start of the year, while the dollar is near its 3-year lows against major currencies. Analysts say that the advance of GBP/USD is more the result of the market selling dollars than buying pounds. The second reason is positive prospects for a Brexit deal that was supported by domestic economic developments and comments of the Bank of England’s Governor Mark Carney. The general sentiment about Brexit is positive since the start of the year. The market believes that the country will be able to reach a favorable deal with its European partners. The talks are proceeding with some difficulties though. According to Reuters, EU officials don’t want to allow finance companies to operate in each other’s markets without barriers if Britain leaves the single market. A report was leaked this week that Brexit will bring negative consequences to the UK economy, no matter whether it leaves the European Union with a free trade deal, single market access or without any deal at all. However, so far positive comments of BOE Governor Mark Carney have shielded the pound from the Brexit-related uncertainty. Sterling rose on Tuesday after he said that the country’s economy has recovered from the financial crisis. Mr. Carney said that private sector is gradually firming and a rise in wages over the next few years appeared to be on track. All this allows the bank to occupy itself with bringing down inflation. As a result, many analysts now think that the BOE will raise interest rates faster than expected. The first 2018 policy decision of BOE will be announced on Thursday, February 8. Before this Services PMI will be released on Monday, February 5. Some analysts have already changed their long-term forecasts for the pound. For example, HSBC increased the year-end projection for GBP/USD from $1.26 to $1.34. UniCredit now thinks that the pound will end 2018 at $1.49. Their previous estimate was by 9% lower. BMO Capital Markets predicted GBP/USD at $1.45 last October, but, nowadays, they forecast $1.52 if the dollar continues to weaken and the UK economy keeps growing. At the same time, there are experts who think that the pound has gained too much in the short-term and that this growth is not fully justified. Commerzbank believes that there will be a lot of problems in Brexit negotiations. According to the bank, Carney will recognize Brexit-related risks and will discourage the rate hike expectations next week. That’s why Commerzbank is cautious about buying GBP at the current levels. More: https://fbs.com/analytics/articles/d...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
05:55 02.02.2018 Technical levels: support – 1.2480; resistance – 1.2530. Trade recommendations: Buy — 1.2480; SL — 1.2460; TP1 — 1.2530; TP2 — 1.2590 Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market is supported by Cloud and returned into the positive area. https://fbs.com/img/articles/6605/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily Analytics
05:56 02.02.2018 Technical levels: support – 1.4200; resistance – 1.4280, 1.4390. Trade recommendations: Buy — 1.4280; SL — 1.4260; TP1 — 1.4390; TP2 — 1.4470. Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices returned into the positive area and may continue uptrend. https://fbs.com/img/articles/6606/15...1200_q90v3.png More: https://fbs.com/analytics/articles/g...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
07:32 02.02.2018 Recommendation: SELL 1.2445 SL 1.25 TP 1.2345 TP2 1.22 SELL 1.2335 SL 1.239 TP1 1.2235 TP2 1.22 On the daily chart of EUR/USD, there’s a sustainable uptrend. Bulls are getting ready to test a 3-year high to reach 200% target of AB=CD. Failure or inability to fix above 1.2535 will be the first signal of buyers’ weakness. https://fbs.com/img/articles/6610/15...1200_q90v3.png On H1, EUR/USD bulls have to fear the formation of a “Widening wedge”. For that the euro needs to decline below $1.2335. Aggressive sell position is possible at the low of the bar #2. https://fbs.com/img/articles/6610/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/GBP Daily Analytics
07:42 02.02.2018 Recommendation: SELL 0.8875 SL 0.893 TP1 0.8775 TP2 0.8715 TP3 0.869 On the daily chart of EUR/GBP, bears failed with their attack on the support of the lower border of the medium-term consolidation range of 0.8690-0.9015. Sellers retain hopes for a break and formation of the AB=CD pattern. https://fbs.com/img/articles/6611/15...1200_q90v3.png On H1, a break above resistance levels at 0.8780 and 0.8810 will increase the risks of triggering Gartley pattern with a target at 78.6% of the wave XA. From this area (0.8870-0.8880), there is a high possibility of aggressive selling by large players. https://fbs.com/img/articles/6611/15...1200_q90v3.png More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
10:32 02.02.2018 https://fbs.com/img/articles/6613/15...1200_q90v3.png The main trend is still bullish. It's likely that the market is going to reach the next resistance at 1.2537 - 1.2569 in the short term. If a pullback from this area happens little later on, there'll be a moment to have a decline towards the nearest support at 1.2456 - 1.2384. https://fbs.com/img/articles/6613/15...1200_q90v3.png The pair is consolidating between the levels 1.2537 - 1.2493. The main intraday target is the 34 Moving Average, which could be a departure point for another upward price movement in the direction of the next resistance at 1.2537 - 1.2569. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
Re: Market news and trade recommendations by FBS
GBP/USD Daily Analytics
10:35 02.02.2018 https://fbs.com/img/articles/6614/15...1200_q90v3.png The price is still rising above the Moving Averages. The main intraday target is the next resistance at 1.4344. If a pullback from this level happens afterwards, bears will probably try to test the closest support at 1.4206 - 1.4129. https://fbs.com/img/articles/6614/15...1200_q90v3.png Bulls faced with resistance at 1.4284, so the market is going to test the 89 Moving Average. This line could be a departure point for an upward 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
ANY CHANCES TO FORECAST NFP?
11:15 02.02.2018 Today the US Bureau of Labor Statistics will release the Nonfarm Payrolls at 15:30 MT time. Nonfarm Payrolls count the change in the number of employed during the previous month. The data is important because it displays consumer spending and economic health. The advantage of the indicator is that it is delivered shortly after the month ends. It is announced together with two other indicators such as Average hourly earnings and Unemployment rate. Nowadays, we can notice that the indicator is not as important as it was before. During the financial crisis, numbers of it were highly taken into consideration because of its main function as a measure of the economic health. However, now the economy is quite firm, it does not require additional supportive indicators. But still, the data support interest rates hikes. This year the Fed is expected to increase interest rates three times. So a market follows changes in the labor market. A tighter market causes wages rise. Wages increase will boost the interest rates. Although it is almost impossible to forecast Nonfarm Payrolls data, analysts do not give up. This time, analysts are divided into two camps. For example, analysts of Nomura and Goldman Sachs predict 205K rise. On the other hand, Hongkong and Shanghai Banking Corporation makes its prediction based on the temperature. It claimed that the drop in average temperatures across the country may cause the fall of job creation for the month. So its expectations are at the level of 170K. The Australian Bank Westpac agrees with HSBC, maybe the reason for the number is different, but the number is the same. Toronto-Dominion Securities is not far from them, it is looking for 175K. Making a conclusion, we can say that despite the fact that the Nonfarm Payrolls data is not used as much as it was during the financial crisis, it is still a crucial indicator, for the Fed policy especially. Its volatility is still incredible, that creates difficulties for forecasts. October data of -33K was followed by 261K in November, the data delivered in December was quite similar to previous one, but the next one was in 80K less. However, the data is still taken into consideration and always supported by two other indicators that smooth its volatility. More: https://fbs.com/analytics/articles/a...Riki_Analytics |
Re: Market news and trade recommendations by FBS
EUR/USD Daily Analytics
13:07 02.02.2018 https://fbs.com/img/articles/6616/15...1200_q90v3.png The market has been rising since a "Tweezers" model formed on the 34 Moving Average. There's no any reversal pattern so far, which means the market is likely going to test the nearest resistance area in the short term. https://fbs.com/img/articles/6616/15...1200_q90v3.png There's a bullish "Hammer", which has been formed at the last local low. So, the price is likely going to continue moving up in the coming hours. More: https://fbs.com/analytics/articles/e...Riki_Analytics |
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