FBS Daily Analytics, News and Promotion

Nov 29, 2010
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#16
GBP/USD IS HEADING TOWARDS SUPPORT
11:22 08.02.2018

The price is testing the 89 Moving Average. The main intraday target is the nearest support at 1.3741. If a pullback from this level happens, we could have an upward price movement towards the 89 Moving Average.



There's a "Pennant" pattern, so the market is likely going to achieve the closest support at 1.3804 - 1.3741. However, if a pullback from this area is on the table, bulls will probably try to reach the next resistance at 1.3834 - 1.3895.

 
Nov 29, 2010
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#17
USD/JPY: THERE ISN'T ANY REVERSAL PATTERN
06:25 09.02.2018



The price is consolidating between two "Windows". Also, there's no any reversal pattern so far. Therefore, the pair is likely going to test the next support area.



There isn't any reversal pattern, cause all the last candles are bearish. So, the market is likely going to test. In this case, bears will probably try to achieve the nearest support area.
 
Nov 29, 2010
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#18
WEEKLY FOREX OUTLOOK: FEB. 12 - 16
11:40 12.02.2018

www.youtube.com/watch?v=VjhBBAe7c_4

The spectacular decline of US stocks was the biggest event of last week. Dow Jones experienced a record fall: it lost more than 1,000 points in one day.

The US dollar took its chance to recover. Traders fear that the Federal Reserve will raise interest rates faster than expected. This may hurt profits of American companies, but boosts demand for the cheap dollar.

The USD index managed to return above 90.00 and has some chance for stabilization. Resistance is at 91.00.

Investors took profit on their bullish EUR/USD positions, and the pair slid by 1.4%. It has to rise above 1.2345 to resume uptrend. Decline below 1.2220 will open the way down to 1.2125 and 1.2080, although we think that the euro should be more or less stable given the euro area’s strong economy.

GBP/USD also corrected down last week. The Bank of England offered the pound a positive boost. It raised the UK economic forecasts and said that interest rates probably needed to rise sooner and faster than it had previously thought. However, the general market selloff affected the pound, and GBP/USD failed to stay above 1.40. Support is at 1.38 and 1.3665. Yet, fundamentals have improved and the pair may try to resume uptrend after some consolidation.

Australian and New Zealand dollars suffered because of the market’s risk aversion and the fact that central banks of these nations don’t plan to raise interest rates. Both AUD/USD and NZD/USD recovered by the end of the week, but still closed below the weekly moving averages.

Forex economic calendar for the coming days includes UK inflation figures on Tuesday, and US consumer inflation and retail sales on Wednesday. The flash European GDP figures will always be released in the middle of the week. Australian employment and US PPI will come out on Thursday and the speech of the RBA governor together with British retail sales and the US building permits are awaited on Friday.
 
Nov 29, 2010
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#19
USD/JPY: "HIGH WAVE" PATTERN
10:40 12.02.2018



The price has reached the lower "Window" once again, so we've got a pullback from this area. Therefore, the market is likely going to test the upper "Window" and the Moving Averages.



There's a "High Wave" pattern, which has been confirmed. So, the pair is likely going to test the Moving Averages, which could be a departure point for another bearish price movement.
 
Nov 29, 2010
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#21
GBP/USD: POUND IN NEGATIVE AREA
06:02 13.02.2018

Technical levels: support – 1.3770; resistance – 1.3870.

Trade recommendations:

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

 
Nov 29, 2010
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#22
XAU/USD: GOLD IS IN THE DEAD ZONE
07:19 13.02.2018

Recommendation:

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

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

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



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

 
Nov 29, 2010
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#23
GBP/USD: BEARISH "PENNANT"
10:19 14.02.2018



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



The market is consolidating between the Moving Averages. The main intraday target is the closest support at 1.3763 - 1.3741. This area could be a departure point for a bullish price movement in the direction of another resistance at 1.3895 - 1.3944.
 
Nov 29, 2010
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#24
EUR/USD: "TRIPLE BOTTOM" PATTERN
10:17 14.02.2018



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



There's a confirmed "Double Top" pattern, so the market is likely going to reach the 89 Moving Average in the coming hours. If a pullback from this line happens little later on, there'll be an opportunity to have another upward price movement.
 
Nov 29, 2010
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#25
USD/JPY: YEN CRASHES OBSTACLES
07:00 15.02.2018

Recommendation:

SELL 107.40 SL 107.95 TP1 106.40 TP2 105.35 TP3 102.80

SELL 108.05 SL 108.60 TP1 107.00 TP2 106.4 TP3 105.35

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



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

 
Nov 29, 2010
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#26
EUR/JPY: EURO IS GRABBING FOR A PIN BAR
06:51 15.02.2018

Recommendation:

BUY 133.40

SL 132.85

TP1 134.40 TP2 135.40

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



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

 
Nov 29, 2010
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#27
USD/JPY BROKE SUPPORT ZONE
09:27 16.02.2018

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

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

 
Nov 29, 2010
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#28
WEEKLY FOREX OUTLOOK: FEB. 19 - 23
12:55 16.02.2018

[youtube]qh873mMyBzQ[/youtube]

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

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

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

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

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

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

Asian markets will be shut for Lunar New Year holidays until Thursday. US banks will also be closed on Monday because of Presidents’ Day.
 
Nov 29, 2010
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#29
AUD/USD IS TIRED OF A CAGE
07:30 19.02.2018

Recommendations:

SELL 0.7895 SL 0.795 TP 0.7795

BUY 0.7985 SL 0.793 TP1 0.8055 TP2 0.8095 TP3 0.8185

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



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

 
Nov 29, 2010
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#30
USD/JPY: PRICE REACHED 21 MOVING AVERAGE
12:09 20.02.2018



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



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