Market news and trade recommendations by FBS

riki143

Master Trader
Dec 18, 2013
6,699
4
79
EUR/GBP Daily Analytics
08:41 23.02.2018
Recommendations:

SELL 0.8805

SL 0.886

TP1 0.874 TP2 0.8695 TP3 0.845

On the daily chart EUR/GBP, we see the continuation of the long-term consolidation in a range of 0.8695-0.9015 within the upward trend. The break of its bottom line will increase risks of 200% target’s implementation of the AB=CD pattern. To succeed, bulls have to hit the resistance at 0.8925.

1519374801-db59d37b543b42e05715d067ea0d9b33_1200x1200_q90v3.png


On H1 of EUR/GBP, successful tests of the upward channel’s bottom line and support at 0.8805 may lead to the continuation of the sharp decline in the direction of 88.6% and 200% targets of “Shark” and AB=CD patterns.

1519374828-b80d1406d22772620a3e5aaf0a2d423a_1200x1200_q90v3.png


More:
https://goo.gl/9kdr3Z
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
EUR/USD Daily Analytics
13:57 23.02.2018

1519394140-2359fb120ecaa788d806e9bdcbf46e62_1200x1200_q90v3.png


The price is consolidating near the 55 Moving Average. The main intraday target is the nearest resistance at 1.2384. If a pullback from this level arrives little later on, there'll be a moment for another decline.

1519394140-3d13fab8a4c230ff7ee89c294f6e83dd_1200x1200_q90v3.png


All the Moving Averages have been broken, but there's a bullish "Thorn" pattern. Therefore, the pair is likely going to test the 89 Moving Average, which could be a departure point for a downward price movement.

More:
https://goo.gl/TFKp2Q
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
GBP/USD Daily Analytics
13:59 23.02.2018

1519394140-2d4cbae07caa2174512c548370e2d96d_1200x1200_q90v3.png


There's a "V-Bottom" pattern, so the market is likely going to reach the nearest resistance at 1.4011 - 1.4066. Meanwhile, if a pullback from this area happens, there'll be a moment for a decline towards the next support at 1.3915 - 1.3835.

1519394140-1fc0a215884f169c1a5473f7ad7ae52a_1200x1200_q90v3.png


The last "Pennant" pattern pushed the price higher. So, it's likely that the pair is going to achieve the closest resistance at 1.4011 - 1.4048 in the coming hours.

More:
https://goo.gl/KRVhrf
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
EUR/USD: LOWER "WINDOW" ACTED AS SUPPORT
14:02 23.02.2018

1519394448-396262023db8dd3a348dc7cc9bcb155e_1200x1200_q90v3.png


There's a bullish "Hammer", which has been confirmed enough. In this case, the market is likely going to test the 34 Moving Average, which could be a departure point for a decline.

1519394448-53385735207b74ce41522ee0679a1081_1200x1200_q90v3.png


The lower "Window" has acted as support, so there's a "Hammer". However, confirmation of this pattern has been canceled by the last bearish "Harami". So, the market is likely going to test the "Window" once again.

More:
https://goo.gl/2qiL3X
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
USD/JPY
14:05 23.02.2018

1519394449-61ee5da84c4625f546c598cb1ea96b6f_1200x1200_q90v3.png


We've got a bullish "Hammer", which hasn't been confirmed yet. So, the price is likely going to test the closest support once again. Nevertheless, bulls will probably try to reach the 55 Moving Average afterwards.

1519394448-0ff6f0c6d969aa634ad8bd6a61e92765_1200x1200_q90v3.png


All the Moving Averages are acting as resistance. Also, there's a confirmed bullish "Harami", so we could have a local decline. At the same time, there's an opportunity to have a new local high afterwards.

More:
https://goo.gl/7qYf4U
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
HAS OIL STABILIZED?
15:41 23.02.2018
This week was quite unstable for the oil. A rise was followed by a fall and vice versa during the whole week. So let's look at the events that created such oil volatility.

After the continuation of the last week rise, the oil was falling on Tuesday and Wednesday. The reasons were hidden in the recovering US dollar and anticipated growth of the US production. This week the greenback could find support. Fed’s meeting minutes that strengthened the confidence of soon rate hikes supported the dollar even more. So the oil prices were traded near such lows as WTI - $61 a barrel, Brent - $65 a barrel.

1519401325-7baa99b0e0cf6e02edc067cfc1b55624_1200x1200_q90v3.png


However, the anticipated rise of the US crude oil inventories was not proved. The data was unexpectedly low that led to the surge of the oil. So the prices appeared close to the highest in two weeks.

The US crude stockpiles fell to 1.62 million barrels last week. It was the biggest fall in five weeks. The average forecast was at 2.2 million.

But the data was mixed. The US exports reached 2 million barrels a day, the highest figure since October 2017. Net imports fell below 5 million barrels a day. It put pressure on the oil. During Friday the oil prices were volatile, but they could stabilize and go further.

Stabilization of the oil is based on the significant support from the OPEC and Russia with their output cuts. According to tanker-tracker Oil Movements’ forecast, the exports are anticipated to decline by 300,000 barrels a day to March 10. Moreover, experts are talking about the prolongation of the cuts. According to the International Energy Agency the supply from North America, Brazil and Mexico can cover global demand growth for the next two years. So it will force OPEC and Russia to expand the cuts for longer than it is planned now (until the end of 2018).

1519401341-5918e36c9c385a5e3559b27829eaa07f_1200x1200_q90v3.png


Making a conclusion, we can say that at the moment the prices have stabilized: WTI is traded near $63, Brent is near $66.40. OPEC and Russia still support the oil prices with its output cuts policy. However, the strength of the greenback is affecting the oil a lot. It is quite difficult to forecast prices because firstly, the greenback is not stable yet. This week stabilization of the dollar may be ruined next week. Secondly, the production of non-OPEC countries is growing, thus it can lead to the oversupply again. However, Saudi oil minister gave a positive forecast. He said that the oil market is rebalancing, and we can expect the continuation of inventories’ decline this year. So let’s see.

More:
https://goo.gl/nL9Vue
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
EUR/USD Daily Analytics
05:05 26.02.2018

Technical levels: support – 1.2300; resistance – 1.2380.

Trade recommendations:

Buy — 1.2300/10; SL — 1.2280; TP1 — 1.2380; TP2 — 1.2450
Sell — 1.2270; SL — 1.2300; TP1 — 1.2220; TP2 — 1.2180
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, Tenkan-sen is horizontal; the market is on the strong support of 1.2300.

1519621500-5974574d0f06c411e972e24d898d2405_1200x1200_q90v3.png


More:
https://goo.gl/bRbBFC
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
GBP/USD Daily analytics
05:07 26.02.2018
Technical levels: support – 1.3960; resistance – 1.4010, 1.4050.

Trade recommendations:

Buy — 1.4000; SL — 1.3980; TP1 — 1.4050; TP2 — 1.4100.
Sell — 1.3930; SL — 1.3950; TP1 — 1.3870; TP2 — 1.3810.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the narrowing channel of the lines; the prices are returned to the Cloud.

1519621500-5838ef800660551113de2aff99712827_1200x1200_q90v3.png


More:
https://goo.gl/BAKSkh
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
NZD/USD Daily Analytics
08:11 26.02.2018
Recommendations:

SELL 0.728 SL 0.7335 TP1 0.7205 TP2 0.717

BUY 0.743 SL 0.7375 TP1 0.753 TP2 0.763

On the daily chart NZD/USD, bulls should break the resistance at 0.743 to continue the rally. On the contrary, if quotations are out the uptrend channel, it will strengthen risks of a pullback.

1519631914-4ac5346a7133e8c9a707cfbae2757ccc_1200x1200_q90v3.png


On H1, the pair reached targets of the “Broadening wedge” pattern. The break of the resistance at 0.7365 will activate the “Shark” pattern. This level is in the “dead zone”. A rebound from the bottom line of the uptrend channel will support a sale of Kiwi.

1519632674-2f7df52b6def1f5547197b5934bfa460_1200x1200_q90v3.png


More:
https://goo.gl/YkVZR8
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
AUD/USD Daily Analytics
08:15 26.02.2018
Recommendations:

BUY 0.79

SL 0.7845

TP1 0.799 TP2 0.8055

On the daily chart AUD/USD, the exit of quotations from the downtrend channel and the break of resistance at 0.7892-0.7902 will increase risks of the activation of Gartley pattern and the continuation of the pair’s rise in the direction of its 78.6% target. Vice versa, a rebound will let bears continue correction.

1519632746-899af96188ac0ab58d983ae1804c0083_1200x1200_q90v3.png


On H1 of AUD/USD, the pair reached targets of the "Widening wedge" and the "Shark" patterns. Currently, the “Crab” pattern is being activated. To continue the rally bulls should break the resistance at 0.79, 0.7945 and 0.799.

1519632770-37deade3708819a62a5c5f86751771bf_1200x1200_q90v3.png


More:
https://goo.gl/tVBzFo
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
EUR/USD Daily Analytics
12:08 26.02.2018

1519646791-886a8ddf9e41fc7867a12baf8a4877af_1200x1200_q90v3.png


There's a bullish "Hammer", so the price is rising. Meanwhile, if a pullback from the nearest resistance area happens, there'll be a moment for another decline.

1519646791-4940b03d5dc3c669b23fc3eb9e565304_1200x1200_q90v3.png


The 144 Moving Average is acting as resistance, but there's still no any reversal pattern. In this case, the market is likely going to test the closest support by the last "Three Methods" pattern, which could be a departure point for another upward price movement.

More:
https://goo.gl/ZmE7nq
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
USD/JPY Daily Analytics
12:11 26.02.2018

1519646791-ff13b0edc5f4fc3644e90542c01f16e4_1200x1200_q90v3.png


The 21 & 34 Moving Averages have acted as resistance, but there's still no any reversal pattern. So, the pair is likely going to test the 21 MA once again. If a pullback from this line happens little later on, there'll be an opportunity to have another bearish price movement.

1519646791-74e204301d65ccebaa3dd5b1c88ce7fc_1200x1200_q90v3.png


There's a bullish "Hammer", which has been confirmed enough, so the market is likely going to test the 21 Moving Average. If this line acts as resistance, bears will probably try to break the last low.

More:
https://goo.gl/UqajUL
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
EUR/USD Daily analytics
01:16 27.02.2018


1519694097-152e2d95e68bb83cfec57cd815315ea5_1200x1200_q90v3.png


The price is consolidating near the Moving Averages. Also, there's a possible "Triangle", so the pair is likely going to test the upper side of this pattern. If a pullback from this line happens little later on, there'll be an opportunity to have another decline.

1519694097-0a989af1e8e4be6f8844945befc8101d_1200x1200_q90v3.png


There's a local "V-Bottom" pattern, so the pair is likely going to test the nearest resistance at 1.2355. If we have a pullback from this level, bears will probably try to achieve the closest support at 1.2254 - 1.2233.

More:
https://goo.gl/Z5zPoi
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
GBP/USD Daily Analytics
01:19 27.02.2018

1519694097-236d4063578c9ebfab6860724f327cbf_1200x1200_q90v3.png


There's a "V-Top" pattern, so the market is declining. Meanwhile, it's likely to have a local upward correction in the coming hours. If a pullback from the nearest resistance at 1.4011 - 1.4066 happens afterwards, there'll be a moment for a decline.

1519694097-f0db47f6924e76881286150f4cc01861_1200x1200_q90v3.png


Bears faced with support at 1.3930, so we've got a "V-Bottom". In this case, it's likely to have a bullish price movement in the direction of the nearest resistance at 1.4011 - 1.4048 in the coming hours.

More:
https://goo.gl/6T5umS
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
AUD/USD Daily Analytics
06:04 27.02.2018
Technical levels: support – 0.7840; resistance – 0.7860, 0.7900

Trade recommendations:

Buy — 0.7850; SL — 0.7830; TP1 — 0.7900; TP2 — 0.7950.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen with the horizontal lines; the prices in consolidation above Tenkan-sen and Kijun-sen.

1519711481-42a68b4bfa2f0515dfbaa054e9dbae66_1200x1200_q90v3.png


More:
https://goo.gl/kuvGJZ
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
USD/JPY Daily Analyitcs
06:06 27.02.2018
Technical levels: support – 106.50; resistance – 107.00.

Trade recommendations:

Sell — 106.80; SL — 107.00; TP1 — 106.10; TP2 — 105.30.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the prices are inside of a Cloud, but the Dollar looks very weak.

1519711482-3dcc4d3b0e9d38341d309e86e7227f36_1200x1200_q90v3.png


More:
https://goo.gl/GqpGhc
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
XAU/USD Daily Analytics
06:59 27.02.2018
Recommendations:

BUY $1344 SL $1329 TP $1374 TP2 $1390 TP3 $1410

SELL $1320 SL $1335 TP1 $1290 TP2 $1270

On the daily chart XAU/USD, a rebound from the bottom line of the uptrend channel allowed gold to hope for the bullish trend’s recovery again. Nevertheless, if a repeated test of the support at $1320 an ounce succeeds, risks of correction will increase.

1519714343-645800f66cec2264dcf59cce4c9ff5cc_1200x1200_q90v3.png


On H1, there is a transformation of the “Shark” pattern in 5-0. A successful break of the support at $1329.5-1330.5 will activate a bearish trend. A necessary condition for the recovery of the bullish trend is the return of gold to the previous uptrend channel.

1519714366-ee5460ddb0ab759758a13cd2952ea838_1200x1200_q90v3.png


More:
https://goo.gl/uMpCHp
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
USD/CAD Daily Analytics
07:04 27.02.2018
Recommendations:

BUY 1.2725 SL 1.267 TP1 1.285 TP2 1.2915

On the daily chart USD/CAD, there is a short-term consolidation in a range of 1.2615-1.2715. The break of its upper bound will let bulls count on the realization of 88,6% and 161,8% targets of “Shark” and AB=CD patterns. On the contrary, if quotations leave uptrend channel, risks of the long-term bearish trend’s recovery will increase.

1519714822-466aa2a874832e642f0b97b79931737b_1200x1200_q90v3.png


On H1 of USD/CAD, a successful break of the resistance at 1.2725 will open a way to 88,6% and 200% targets of “Shark” and AB=CD patterns.

1519714846-c19703868bbc85441b3abba113bcb318_1200x1200_q90v3.png


More:
https://goo.gl/CpEuZv
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
EUR/USD Daily Analytics
12:26 27.02.2018

1519734251-b68d0222f93649104b3071b83628be72_1200x1200_q90v3.png


The Moving Averages are acting as resistance, so the last bearish "Engulfing" pattern is still on the table. In this case, if a pullback from the nearest resistance area happens little later on, there'll be a moment for another decline.

1519734252-d72b2af06aee613fed66b57ecc461c75_1200x1200_q90v3.png


The 144 Moving Average has acted as resistance, so there're bearish patterns such a "Doji" and a "Harami". Therefore, we're likely going to have a decline during the day. Meanwhile, if any bullish pattern arrives afterwards, we could have an intraday upward price movement.

More:
https://goo.gl/Fnsuq4
 

riki143

Master Trader
Dec 18, 2013
6,699
4
79
USD/JPY Daily Analytics
12:31 27.02.2018

1519734252-d0959311bcbbc48aa3ae36db28841114_1200x1200_q90v3.png


There's a bullish "High Wave", so the price is rising. It's likely that the pair is going to test the 55 Moving Average soon. If a pullback from this line happens, we could have another decline.

1519734251-ea2468d65ede9360ed68c9e6cd0dbb48_1200x1200_q90v3.png


The price is consolidating along the Moving Averages. Also, there's a bearish "Three Methods" pattern, so we're likely going to have a downward correction in the short term. However, if any bullish pattern forms little later on, there'll be a green light for an upward price movement towards the nearest resistance area.

More:
https://goo.gl/8GiFsh