Market analysis and trade recommendations by FBS

[riki143]

EUR/JPY Daily Analytics
06:54 08.03.2018
Recommendation:

SELL 133.40 SL 133.95 TP1 132.40 TP2 131.30

SELL 134.20 SL 134.75 TP1 133.20 TP2 132.40 TP3 131.30

On the daily chart, EUR/JPY after reaching 113% target of the “Shark” made a natural pullback. Now it’s transforming into 5-0. Usually, correction towards 50% of the wave CD is used for selling.

On H1 of EUR/JPY, a break of resistance at 132 will trigger the “Shark” and increase the odds of the “Wolfe waves” pattern. The target of the later will allow finding a convergence area 134.15-134.3.

More:
https://goo.gl/caofvb

 

[riki143]

USD/JPY Daily Aalytics
07:03 08.03.2018
Recommendations:

SELL 106.8 SL 107.35 TP1 105.8 TP2 105.35 TP3 103.00

SELL 105.35 SL 105.90 TP1 104.35 TP2 103.35 TP3 103.00

On the daily chart of USD/JPY, there’s a sustainable downtrend. As long as the pair is below 107.9-108.2, bears are in control. A break of support at 105.35 will increase the risks of decline to 161.8% target of AB=CD and convergence area of 102.8-103.2.

On H1, the inability of bulls to keep the pair above the upper border of the triangle and reach 78.6% of the Gartley pattern is a signal for selling.

More:
https://goo.gl/87jBJ7

 

[riki143]

EUR/USD Daily Analytics
12:17 08.03.2018

There's a bearish "High Wave", which has been confirmed. So, the market is likely going to test the 55 Moving Average, which could be a departure point for another upward price movement.

The upper "Window" has acted as resistance, so the price is declining. The main intraday target is the 144 Moving Average. If a pullback from this line happens little later on, there'll be a moment for a bullish price movement.

More:
https://goo.gl/nJzqaK

 

[riki143]

USD/JPY Daily Analytics
12:18 08.03.2018

The 21 Moving Average is acting as resistance, but there's a "Morning Star" pattern, which has formed at the last low. So, we should keep an eye on the 55 MA, which could be a departure point for another decline.

There's a bullish "Tower" pattern, so the price is likely going to continue moving up. The main intraday target is the upper "Window", which could act as resistance.

More:
https://goo.gl/tkziqc

 

[Andrea ForexMart]

The Release of Government's EU Exit Analysis


The EU free trade agreements still expected to cost the UK by 4.8 percent of its projected economic growth for the next 15 years, based on the confidential government ‘EU exit analysis’ released yesterday. The decline in growth amounted to £55 billion of the British government debt by 2033, which could further negate the expected ‘Brexit dividend’ by the supporters of the EU exit. The report was issued by the department of Exiting the EU committee. Moreover, Brexit Secretary David Davis stated that the published document should be kept confidential but some parts of the material were already leaked to the media last month.


The alternative option led by Theresa May’s team is the “Membership of the single market” but was ruled out due to the possible drop in GDP by 1.6 percent. On one hand, the ‘no deal’ Brexit would return the UK trading with the EU-27 under the standards of the World Trade Organisation and would cost 7.7 percent of the GDP based on the government numbers. This could result in a surge of government borrowing by £20 billion and £80 billion, respectively. With this, there are assumptions that approximately 40,000 to 90,000 EU migrants are planning to leave the United Kingdom.


Included in the analysis is the projected economic benefits from the reducing regulations. The government of Britain would likely create its original version of impact assessment, however, some of the think tanks are expected to see potential gains around zero and 2 percent only of the GDP. Nevertheless, the report does not mainly evaluate the short-term economic effect of Brexit.


It further shows that the free trade deal with the United States would benefit the UK GDP by 0.2 percent in the longer term. While another concession with countries under the trans-Pacific and south-east Asia regional group such as Australia, China, India and New Zealand is expected to add 0.1 to 0.4 percent of GDP. Ministers of Britain are hoping to start the talks prior to the Brexit scheduled in March 2019, but this plan seems to be already abandoned.

 

[riki143]

EUR/USD Daily Analytics
07:21 09.03.2018
Recommendation:

SELL 1.2295

SL 1.2350

TP1 1.2185 TP2 1.2090 TP3 1.1965

On the daily chart of EUR/USD, there’s a “Widening wedge” pattern. The inability of bulls to return the pair inside the uptrend channel pointed at their weakness and increase the risks of correction towards convergence area of 1.2055-1.2090 and 1.1935-1.1965.

On H1, EUR/USD keeps forming a “Widening wedge”. Pullbacks towards 61.8% and 50% of the wave 4-5 allowed to form short positions. To develop correction in that direction, at least to 88.6% target of the “Shark” pattern, the pair needs to break below support at 1.2295.

More;
https://goo.gl/SyWu25

 

[riki143]

EUR/GBP Daily Analytics
07:49 09.03.2018
Recommendation:

SELL 0.8885

SL 0.894

TP1 0.8825 TP2 0.8795 TP3 0.8745

On the daily chart, EUR/GBP keeps consolidating within “Spike and ledge” on the basis of 1-2-3. Bulls tried to break to its upper border near 0.9015 but were then pulled off to the starting positions. Currently, the pair is fighting for an important level of 38.2% of the bullish medium-term wave.

On H1, EUR/GBP bears got a chance to form the reversal pattern “Widening wedge”. If they use it, the risks of correction towards 50% and 61.8% of the last bullish wave and lower will increase.

More:
https://goo.gl/ZurGFV

 

[riki143]

EUR/USD Daily Analytics
11:07 09.03.2018

The main trend is still bullish, but there's a confirmed "Double Top" pattern, so the price is declining. The main intraday target is the nearest support at 1.2234 - 1.2205. If a pullback from these levels happens little later on, there'll be an opportunity to have another upward price movement.

All the Moving Averages have been broken, so the price is consolidating. It's likely that the pair is going to test the nearest resistance at 1.2327, which could be a departure point for another decline.

More:
https://goo.gl/MnXQJx

 

[riki143]

GBP/USD Daily Analytics
11:08 09.03.2018

Moving Averages have acted as resistance, so there's a "Double Top" pattern. Therefore, the market is likely going to test the next support at 1.3763 - 1.3711 in the short term. If a pullback from this area happens little later on, there'll be a moment for a bullish correction.

Bears faced with support at 1.3816, so there's a "Double Bottom" pattern, which has been confirmed. In this case, the pair is likely going to test the nearest Moving Averages, which could act as resistance. If so, we should keep an eye on the closest support at 1.3780 - 1.3754 as the next bearish target.

More:
https://goo.gl/hj9MTz

 

[riki143]

EUR/USD Daily Analytics
02:40 12.03.2018
El EUR/USD está teniendo una oleada vendedora que le está ayudando a consolidar la acción del precio por debajo de la media móvil de 200 horas. La resistencia de 1.2446 ha ayudado a producir un pullback en este par, que ahora está oscilando alrededor de una zona de demanda entre los niveles Fibonacci de 50% y 65% en 1.2300 y 1.2256 respectivamente.

En caso de que observemos un rebote sobre esa zona, es posible que el par vaya a ponerse en ruta hacia el nivel Fibonacci de -23.6% en 1.2515, en donde podríamos ver las liquidaciones de las órdenes de compra activadas tras haber impactado dicha área de demanda. El RSI se mantiene en territorio negativo, favoreciendo a los osos en el corto plazo.

More:
https://goo.gl/7829bA

 

[riki143]

GBP/JPY Daily Analytics
02:41 12.03.2018
El GBP/JPY se está recuperando desde el 2 de Marzo en un intento por continuar con el sesgo bajista general. El nivel Fibonacci de 65% en 148.24 continúa brindando una fuerte resistencia en el corto plazo y es posible que veamos una retoma del sesgo bajista para ir hacia el nivel Fibonacci de -23.6% en 143.80.

No obstante, los altos del 9 de Marzo podrían ser fracturados para que el par vuelva a tocar los altos del 26 de Febrero en 150.00, el cual es una fuerte barrera psicológica que podría frenar la avanzada en el GBP/JPY. El RSI se mantiene en territorio positivo, al igual que el MACD, por lo que no se descarta otra extensión alcista.

More:
https://goo.gl/35JYZr

 

[riki143]

BTC/USD Daily Analytics
02:42 12.03.2018
During the weekend we were able to observe something important for the Bitcoin price action: support. The outlook seemed to be in favor of the bears in the short term, but during the day of March 11, the BTC/USD pair has encountered a strong barrier of buying contention that is causing the Fibonacci level of 65% in 7856 keep intact.

According to the H1 chart, the Parabolic SAR is in favor of the bulls and now we are seeing that the price could break above the Fibonacci level of 38.2% in 9407. If this is achieved, the cryptocurrency could go towards the 11339 resistance; zone that caused a weakening towards the psychological level of 8000.

What do we expect?

According to our forecasts in the short-term, the buy orders could remain active, since the volume is increasing and the MACD indicator is oscillating in positive territory. The next target would be the 200-hour moving average, which, if fractured, could allow gains to the key resistance of 11339. On the other hand, if the Bitcoin breaks below 7856, the pair could fall to the level Fibonacci of 78.6% in 7068.

More:
https://goo.gl/WyQxeP

 

[riki143]

USD/CHF Daily Analytics
02:43 12.03.2018
USD/CHF remains strong across the board and stays well-consolidated above the 200 SMA at H1 chart. Now, the pair is entering a corrective phase that could allow a leg lower to test the 65% Fibonacci level at 0.9406. Around such area, we can expect a rebound to take place in order to rally towards the next target at the Fibonacci area of -23.6% at 0.9580.

RSI indicator stays in the positive territory, favoring to the bulls in the short-term.

More:
https://goo.gl/LGAWVG

 

[riki143]

NZD/USD Daily Analytics
07:12 12.03.2018
Recommendations:

BUY 0.7430

SL 0.7375

TP1 0.753 TP2 0.756 TP3 0.763

On the daily chart NZD/USD, a consolidation of 0.7185-0.743 is continuing within the “Broadening wedge” pattern. A return of the pair to the uptrend channel, a break of the resistance at 0.743 and 0.7475 will predetermine the recovery of the uptrend.
A

On the H1, the pair has almost reached the 88.6% target of the “Bat” pattern. After the implementation of the pattern, it will transform into the “Crab” pattern. NZD/USD will continue to move within the “Dragon” pattern.

More:
https://goo.gl/Pe2J9J

 

[riki143]

EUR/USD Daily Analytics
07:25 12.03.2018
Technical levels: support – 1.2260; resistance – 1.2350.

Trade recommendations:

Sell — 1.2300; SL — 1.2320; TP1 — 1.2200; TP2 — 1.2160
Buy — 1.2360; SL — 1.2340; TP1 — 1.2450; TP2 — 1.2480
Reason: narrow bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices returned into the Cloud and supported by Cenkou Span A.

More:
https://goo.gl/uyhPr5

 

[riki143]

GBP/USD Daily Analytics
07:26 12.03.2018
Technical levels: support – 1.3760; resistance – 1.3860.

Trade recommendations:

Sell — 1.3840; SL — 1.3860; TP1 — 1.3760; TP2 — 1.3710.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are supported by Senkou Span A but the Bears looks strong.

More:
https://goo.gl/pwhrgC

 

[riki143]

AUD/USD Daily Analytics
07:07 12.03.2018
Recommendation:

BUY 0.7885

SL 0.7830

TP1 0.7985 TP2 0.8050 TP3 0.8100

On the daily chart of AUD/USD, a break of the line 2-4 and exit from the downtrend channel triggered “Wolfe waves” pattern. As a result, the odds of going to 1-4 (situated near 0.8050-0.8100) with the following resumption of the uptrend increased.

On H1, AUD/USD reached 88.6% target of the “Bat”. As a result, the risks that it will transform to “Crab” increased. The pair continues forming a “Dragon” pattern.

More:
https://goo.gl/YXRt9D

 

[riki143]

EUR/USD Daily Analytics
09:26 12.03.2018

The main trend is still bullish. There's a confirmed "Thorn" pattern, so the market is likely going to test the next resistance at 1.2384 - 1.2445. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the nearest support at 1.2359 - 1.2319.

There's a consolidation, which is taking place under the Moving Averages. It's likely that the pair is going to test the closest support at 1.2301 - 1.2283, which could be a departure point for another upward price movement.

More:
https://goo.gl/DwZS4J

 

[riki143]

GBP/USD Daily Analytics
09:28 12.03.2018

There's a local "V-Bottom" pattern, so the price is testing Moving Averages. The main intraday target is the nearest resistance at 1.3915. If a pullback from this level happens afterwards, bears will probably try to achieve another support at 1.3856 - 1.3799.

All the Moving Averages have been broken, so the market is likely going to test the next resistance at 1.3918 - 1.3928 in the short term. Meanwhile, if we see a pullback from this area, there'll be a moment for a decline in the direction of the nearest support at 1.3845 - 1.3816.

More:
https://goo.gl/NRKtt2

 

[riki143]

EUR/USD Daily Analytics
12:48 12.03.2018

The price is consolidating under the Moving Averages. Also, there's a "Shooting Star" pattern, so the market is likely going to test the nearest support area, which could be a departure point for an upward price movement.

The 55 Moving Average acted as resistance, so there's a "Hanging Man" pattern, which has been confirmed. Therefore, the lower "Window" is likely going to act as support in the coming hours.

More:
https://goo.gl/bmeDcJ