Market news and trade recommendations by FBS

[riki143]

CHF/JPY Daily Analytics
08:48 08.02.2018
CHF/JPY falling minor impulse wave 1
Next sell target - 115.00
CHF/JPY continues to fall inside the minor impulse wave 1, which belongs to the intermediate impulse wave (C) from the start of February. The price earlier reversed down sharply from the powerful resistance zone lying between the major resistance level 118.50 (which also reversed the previous sharp uptrend in the middle of July) and the upper daily Bollinger Band. CHF/JPY is expected to fall further toward the next sell target at the next support level 115.00 (target price for the completion of the active impulse wave 1).

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[riki143]

GBP/USD Daily Analytics
08:49 08.02.2018
Technical levels: support – 1.3850; resistance – 1.3950.

Trade recommendations:

Buy — 1.3900/20; SL — 1.3880; TP1 — 1.4050; TP2 — 1.4100.
Sell — 1.3880; SL — 1.3900; TP1 — 1.3750; TP2 — 1.3680.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are on Senkou Span B’s support, but the Bears have a strength.

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[riki143]

EUR/JPY Daily Analytics
09:10 08.02.2018
Recommendation:

SELL 133.80

SL 134.35

TP1 132.8 TP2 131.8 TP3 131.5

On the daily chart, EUR/JPY returned to the lower border of the medium-term uptrend channel. In case of its successful test, the risks of the pair’s decline to 88.6% of the “Shark” pattern will increase. On the other hand, a pullback will be in favor of the resumption of the long-term uptrend.

Renews February low, it will open the way down to 88.6% target of the “Shark” pattern at 131.50.

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[riki143]

USD/JPY: YEN IS IN THE LIMBO
09:19 08.02.2018
Recommendation:

SELL 108.30 SL 108.85 TP 107.3 TP2 106.3 TP3 105.3

BUY 110.25 SL 109.7 TP 111.25 TP2 111.6 TP3 111.8

On the daily chart, USD/JPY formed an Inside bar. To continue the decline, bears need to pull the pair below support at 108.90 and 108.30. On the other hand, a break of resistance at 109.9-110.15 with the following triggering of the “Bat” pattern will increase the risks of a pullback.

On H1, USD/JPY went outside of a triangle. This increases the odds of formation of the “Crab” pattern with the target at 161.8%. The condition needed to resume the downtrend is the decline below support at 108.90.

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[riki143]

EUR/JPY Daily Analytics
09:10 08.02.2018
Recommendation:

SELL 133.80

SL 134.35

TP1 132.8 TP2 131.8 TP3 131.5

On the daily chart, EUR/JPY returned to the lower border of the medium-term uptrend channel. In case of its successful test, the risks of the pair’s decline to 88.6% of the “Shark” pattern will increase. On the other hand, a pullback will be in favor of the resumption of the long-term uptrend.

Renews February low, it will open the way down to 88.6% target of the “Shark” pattern at 131.50.

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[riki143]

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.

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[riki143]

EUR/USD Daily Analytics
11:51 08.02.2018

There's a bearish "Three Methods" pattern, which has been formed under the Moving Averages. So, the market is likely going to continue moving down in the short term.

The upper "Window" has acted as resistance, so there's a "Shooting Star" pattern. In this case, the pair is likely going to test the nearest support area pretty soon.

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[riki143]

USD/JPY Daily Analytics
11:55 08.02.2018

The price is testing the Moving Averages, but bulls are likely going to test the upper "Window" in the coming hours. If a pullback from this level happens afterwards, there'll be an opportunity to have another decline.

There's a bearish "Engulfing", but confirmation of this pattern isn't enough. So, the market is likely going to test the Moving Averages, which could be a departure point for a bullish price movement.

More:
https://fbs.com/analytics/articles/usd-jpy-price-testing-moving-averages-6718

 

[riki143]

EUR/USD Daily Analytics
05:58 09.02.2018
Technical levels: support – 1.2230; resistance – 1.2350, 1.2400.

Trade recommendations:

Buy — 1.2260; SL — 1.2240; TP1 — 1.2340; TP2 — 1.2400
Reason: narrow bullish Ichimoku Cloud, but raising Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are supported by Senkou Span B and may bounce to Kijun-sen.

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[riki143]

GBP/USD Daily Analytics
05:58 09.02.2018
Technical levels: support – 1.3900; resistance – 1.4050.

Trade recommendations:

Buy — 1.3940; SL — 1.3920; TP1 — 1.4050; TP2 — 1.4100.
Reason: narrow bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel; the prices are supported by Senkou Span B and returned inside a Cloud.

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[riki143]

EUR/USD Daily Analytics
06:13 09.02.2018

There's a "V-Bottom" pattern, but the price is consolidating. Also, there's a possible developing bearish pattern. In this case, the market is likely going to test the nearest support 1.2164.

Bears faced with support at 1.2222, so the price is likely going to reach the closest resistance at 1.2294. If a pullback from this level happens little later on, the market will probably test the next support at 1.2211 - 1.2194.

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[riki143]

GBP/USD Daily Analytics
06:15 09.02.2018

The main trend is still bullish, but there's a "V-Top" pattern. The main intraday target is the next support at 1.3834 - 1.3741. Meanwhile, if a pullback from this area happens, we could have another upward price movement.

There's a bearish "Thorn" pattern, so the price is consolidating. It's likely that the pair is going to test the nearest resistance at 1.3944 - 1.3979, which could be a departure point for a bullish price movement.

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[riki143]

EUR/USD Daily Analytics
06:20 09.02.2018

There's a bearish "Three Methods" pattern, which has been formed under the Moving Averages. In this case, the price is likely going to continue declining.

The price is consolidating under the upper "Window". If a pullback from this area happens, we could see a downward price movement towards the next support.

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[riki143]

USD/JPY Daily Analytics
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 nearest support area.

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[riki143]

EUR/USD Daily Analytics
07:11 09.02.2018
Recommendation:

SELL 1.2225 SL 1.228 TP1 1.216 TP2 1.2045

BUY 1.2295 SL 1.224 TP1 1.237 TP2 1.2475

On the daily chart, EUR/USD keeps forming “Spike and reversal with acceleration”. Bears count on the continuation of the decline toward an interim target at 78.6% of the “Bat” pattern. Never the less, the pair is for now above support at 1.2015-1.2045, and bulls are in control of the situation.

On H1, after having formed a widening wedge EUR/USD went to the 3-week and formed a short-term consolidation range of 1.2225-1.2295.

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[riki143]

EUR/GBP Daily Anlytics
07:29 09.02.2018
Recommendation:

SELL 0.8715

SL 0.877 TP1 0.8615

TP2 0.8525 TP3 0.8425

On the daily chart, EUR/GBP continues its medium-term consolidation in the 0.8700-0.9015 area. A break of its lower border will increase the odds of the pair’s getting to 200% target of AB=CD. On the other hand, advance above the resistance at 0.9015 will help to resume the uptrend.

On H1, EUR/GBP reached 88.6% target of an inverted “Bat”. To continue the decline, bears need to pull the pair below 0.8715.

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[riki143]

WEEKLY REPORT: GBP/USD
11:36 09.02.2018
This week was shaking for the cable. At the beginning of the week, the pound continued the Friday’s downward trend.

However, it little changed ahead of the Bank of England’s meeting. Although the BOE kept interest rates unchanged at the level of 0.5%, hawkish sounding statements of the Governor made the pound rise. Mark Carney said that they are returning to targeting inflation at the two-year horizon. That is why they may raise the interest rate earlier than planned before. It caused the rally of the pound, and it could achieve the level of 1.4065 after the last close at 1.3875. However, the candle could not close at that height and fell to close at 1.3900.

The bullish trend of GBP could not fix because doubts about the Brexit deal still prevail. In addition, the significant plunge of the Dow Johns Index affected the pound as well.

The GBP/USD is moving in a horizontal trading channel between 1.3835 and 1.4000. They are support and resistance for the pair in a short-term. The next support is at 1.3741, resistance at 1.4070.

Next week traders should take into consideration CPI data that will be released on Tuesday, February 13, and Retail Sales announcement on Friday, February 16, both at 11:30 MT time.

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[riki143]

EUR/USD: EURO STARTED TO SSA
06:01 13.02.2018
Technical levels: support – 1.2230, 1.2270; resistance – 1.2350, 1.2400.

Trade recommendations:

Buy — 1.2300; SL — 1.2280; TP1 — 1.2400; TP2 — 1.2450
Reason: narrowing bearish Ichimoku Cloud with raising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with narrowing channel; the prices are supported by Senkou Span B and going to upper border of the Ichimoku Cloud.

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[riki143]

GBP/USD Daily Analytics
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.

More:
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[riki143]

XAU/USD Daily analytics
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.

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