Market news and trade recommendations by FBS

[riki143]

GBP/USD Daily Analytics
01:10 23.03.2018

There's a "Thorn" pattern, so the market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on, there'll be an opportunity to have a bullish price movement.

The last "Thorn" pattern led to the current decline. The main target is the 89 Moving Average, which could be a starting point for another bullish rally.

More:
https://goo.gl/NXPm5P

 

[riki143]

EUR/USD Daily Analytics
07:20 23.03.2018
Recommendation:

SELL 1.2245 SL 1.23 TP1 1.2145 TP2 1.208 TP3 1.1965

BUY 1.2415 SL 1.236 TP1 1.2515 TP2 1.2615 TP3 1.2715

On the daily chart, EUR/USD is consolidating in the 1.2245-1.2415 range. A break below the lower border of the range will allow bears to pull the pair to 127.2% of the violet AB=CD. On the other hand, advance above resistance at 1.2415 will increase the odds of advance to 127.2% target of the green AB=CD.

On H1, EUR/USD keeps forming the junior “Widening wedge”.

More:
https://goo.gl/2anrsm

 

[riki143]

AUD/USD Daily Analytics
07:52 23.03.2018
Technical levels: support – 0.7690; resistance – 0.7730, 0.7780

Trade recommendations:

Sell — 0.7730; SL — 0.7750; TP1 — 0.7610; TP2 — 0.7580.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.

More:
https://goo.gl/nZXggD

 

[riki143]

USD/JPY Daily Analytics
07:55 23.03.2018
Technical levels: support – 104.30, 103.50; resistance – 105.20.

Trade recommendations:

Sell — 105.20; SL — 105.40; TP1 — 104.30; TP2 — 103.50.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.

More:
https://goo.gl/5YLw3v

 

[riki143]

EUR/GBP Daily Analytics
07:55 23.03.2018
Recommendations:

SELL 0.8785 SL 0.884 TP1 0.8695 TP2 0.8525 TP3 0.845

SELL 0.881 SL 0.8865 TP1 0.8695 TP2 0.8525 TP3 0.845

On the daily chart of EUR/GBP, there is a continuation of a medium-term consolidation in the range of 0.8695-0.9015 within the “Spike and ledge” pattern. The first break of its bottom line was unsuccessful, however, bears still hope and are ready to repeat the break after a small pullback.

On H1, there is a transformation of the AB=CD pattern to 5-0. Usually, pullbacks in the direction to 38.2%, 50%, and 61.8% are used for a formation of short positions.

More:
https://goo.gl/NYorG3

 

[riki143]

EUR/USD Daily Analytics
15:12 23.03.2018

There's an "Inverted Hammer", so the price is rising. It's likely that bulls are going to test the nearest resistance area in the coming hours.

We've got a bullish "Harami", which has been confirmed enough. Also, there's a pullback from the Moving Averages, so the pair is likely going to continue moving up.

More:
https://goo.gl/nVHdDj

 

[riki143]

NZD/USD Daily Analytics
07:00 26.03.2018
Recommendation:

BUY 0.7280

SL 0.7215

TP1 0.7335 TP2 0.7395 TP3 0.7475

On the daily chart of NZD/USD, the third attempt of bears to conquer an important support at 0.7185 failed. It points at the weakness of sellers. The necessary conditions for uptrend’s resumption are a successful test of resistance at 0.7265 and the pair’s exit from the short-term descending channel.

On H1, a break of resistance at 0.7280 will increase the risks of “Head and shoulders” and “Shark” patterns. Target at 88.6% of the latter is near 0.7335.

More:
https://goo.gl/3N6wK8

 

[riki143]

AUD/USD Daily Analytics
07:16 26.03.2018
Recommendation:

SELL 0.7825

SL 0.7890

TP1 0.7725 TP2 0.7650

On the daily chart of AUD/USD, there’s a desperate fighting for 0.7410-0.7460. Bulls are trying to return the pair inside the long-term uptrend, while bears want to return it to the medium-term downtrend.

On H1, the “Shark” pattern is transforming into 5-0. Never the less, a break of resistance at 0.7795 will trigger a “Bat” with a target at 88.6%. Powers of bulls and bears near 0.7765-0.7865 are relatively equal. This increases the possibility of consolidation.

More:
https://goo.gl/GkRQFP

 

[riki143]

EUR/USD Daily Analytics
08:07 26.03.2018
Technical levels: support – 1.2350; resistance – 1.2400.

Trade recommendations:

Buy — 1.2360; SL — 1.2340; TP1 — 1.2400; TP2 — 1.2450
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with the rising lines; the prices are fixed in the positive area supporting by the Cloud.

More:
https://goo.gl/qPafj7

 

[riki143]

GBP/USD Daily Analytics
08:09 26.03.2018
Technical levels: support – 1.4150; resistance – 1.4200, 1.4250.

Trade recommendations:

Buy — 1.4170/80; SL — 1.4150; TP1 — 1.4250; TP2 — 1.4290.
Reason: bullish Ichimoku Cloud, but the lines Senkou Span A and B are horizontal; a golden cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market is going to local highs.

More:
https://goo.gl/N9Wa4z

 

[riki143]

DIRECTION OF COMMODITY CURRENCIES. WESTPAC’S FORECASTS
09:46 26.03.2018
In the environment of trade wars, a lot of currencies are suffering. We can say that the most negative impact trade wars have on the Australian and the Canadian dollars. Both commodity currencies are suffering from volatility now. Let’s look at Westpac’s forecasts to determine if the loonie and the aussie have a possibility to strengthen.

Note: Westpac is one of Australia's "big four" banks and the second largest bank in New Zealand.

We will start with the Canadian dollar. According to the Westpac’s analyst, threats of trade wars and accommodative policy of the Bank of Canada are exaggerated. If we talk about the trade wars, risks of the US-Canada war have declined as the last one was excluded from Trump’s steel and aluminum tariffs. Moreover, there is a progress in NAFTA negotiations.

What about the BOC policy? Expectations on the BOC’s tighter monetary policy declined, however, the central bank is still anticipated to increase interest rates for the first time to the middle of 2018 and second time to the end of the year.

So market’s negative mood is supposed to slow down in the soon future.

What about rates? Westpac supposes that the USD/CAD unlikely will get a strong support at 1.30-1.35.

The Australian dollar. Ahead of the release of the interest rate, the AUD/USD pair traded at the three-month low. However, the aussie managed to strengthen after the Fed’s meeting as the rate hike could not support the greenback.

The Australian dollar is still under the pressure because of trade wars that dramatically affect the currency. Furthermore, declining prices of basic commodity goods produced in Australia, have a negative impact on the Australian currency.

However, Westpac’s analyst notices that new workplaces and a weakening dollar will be able to support the stability of the AUD/USD pair, so it will trade near 0.77.

More:
https://goo.gl/uXpazN

 

[riki143]

EUR/USD Daily analytics
12:19 26.03.2018

The main trend is still bullish. Also, there's a "Flag" pattern, so the market is likely going to test the next resistance at 1.2412 - 1.2445. If a pullback from this area happens little later on, there'll be an opportunity to have a bearish correction.

All the Moving Averages have been broken, so the price is rising. The main intraday target is the nearest resistance at 1.2412 - 1.2445. This area could be a departure point for a downward correction towards the closest support at 1.2387 - 1.2358.

More:
https://goo.gl/Qdym8n

 

[riki143]

GBP/USD Daily Analytics
12:20 26.03.2018

There's a "Double Bottom" pattern, so the market is likely going to reach another resistance at 1.4217 - 1.4277 in the short term. If we have a pullback from these levels, there'll be an opportunity to have a bearish correction.

The 34 Moving Average has acted as support. In this case, we should keep an eye on the next resistance at 1.4233 - 1.4277 as an intraday target. A pullback from this level could be a starting point for a decline.

More:
https://goo.gl/gPcfV8

 

[riki143]

SELL AUD/JPY Daily Analytics
13:21 26.03.2018

According to the NAB Research, the AUD/JPY pair will break support levels displaying the strong yen and the weak Australian dollar. The break below the psychological level at 80.0 will bring the AUD/JPY pair to the September low of 75.9.

Be careful as the yen is going to strengthen against other currencies as well. We can expect USD/JPY to move down in the coming months too.

More:
https://goo.gl/p4SbFC

 

[riki143]

EUR/USD Daily Analytics
13:24 26.03.2018

There's still no any reversal pattern so far because all the last candles are bullish. In this case, the market is likely going to test the nearest resistance area, which could be a departure point for a bearish correction.

We've got a bullish "Three Methods" pattern, which pushed the price higher. Therefore, the pair is likely going to reach the upper "Window" in the coming hours.

More:
https://goo.gl/efdLaC

 

[riki143]

EUR/USD Daily analytics
13:24 26.03.2018

There's still no any reversal pattern so far because all the last candles are bullish. In this case, the market is likely going to test the nearest resistance area, which could be a departure point for a bearish correction.

We've got a bullish "Three Methods" pattern, which pushed the price higher. Therefore, the pair is likely going to reach the upper "Window" in the coming hours.

More:
https://goo.gl/efdLaC

 

[riki143]

USD/JPY Daily Analytics
13:29 26.03.2018

There's a "Piercing Line", which has been formed at the last local low. So, we should keep an eye on the Moving Averages as an intraday bullish target.

We've got an "Inverted Hammer", which has been confirmed by the last "Three Methods" pattern. So, bulls are likely going to test the Moving Averages. If a pullback from these lines happens little later on, there'll be a moment for another decline

More:
https://goo.gl/HcnM9h

 

[riki143]

XAU/USD Daily Analytics
06:44 27.03.2018
Recommendations:

BUY 1365 SL 1350 TP1 1395 TP2 1410 TP3 1425

BUY 1340 SL 1325 TP1 1380 TP2 1395 TP3 1410

On the daily chart of XAU/USD, the inability of bears to pull the pair below the support at 1302-1308 points at their weakness. Bulls managed to lead gold outside of the consolidation range of 1308-1340. This increases the odds of an advance towards 113% and 127.2% targets of the “Shark” and AB=CD.

On H1, XAU/USD formed a “Crab”. Advance above resistances at 1361 and 1365 will open the way up to 161.8%.

More:
https://goo.gl/osCQK9

 

[riki143]

AUD/USD Daily Analytics
06:48 27.03.2018
Technical levels: support – 0.7730; resistance – 0.7750, 0.7780

Trade recommendations:

Sell — 0.7730; SL — 0.7750; TP1 — 0.7610; TP2 — 0.7580.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen under the Cloud, but with the lines are horizontal; the prices in a correction movement to the Cloud and can be stopped by Cloud’s resistance.

More:
https://goo.gl/Lbm9Lq

 

[riki143]

USD/JPY Daily Analytics
06:49 27.03.2018
Technical levels: support – 105.00, 104.30; resistance – 105.60.

Trade recommendations:

Sell — 105.50; SL — 105.70; TP1 — 105.00; TP2 — 104.30.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a strong dead cross of Tenkan-sen and Kijun-sen; a market was oversold and corrected to Kijun-sen – the downtrend may continue soon.

More:
https://goo.gl/g4V7NP