Market analysis and trade recommendations by FBS

[riki143]

NZD/USD Daily Analytics
06:42 19.03.2018
Recommendation:

SELL 0.7280 SL 0.7335 TP 0.718

SELL 0.7185 SL 0.7240 TP 0.7080

On the daily chart of NZD/USD, the inability of bulls to return the pair inside the uptrend channel points at their weakness. Kiwi approached the lower border of the 0.7185-0.7430 consolidation range. In case of the successful test of the support, the risks of decline to 0.7080 will increase.

On H1, the fact that NZD/USD reached the interim target at 78.6% of the “Shark” pattern increases the odds of its transformation into 5-0. Pullbacks to 38.2% and 50% of the wave CD should be used for selling.

More:
https://goo.gl/veBPty

 

[riki143]

AUD/USD Daily analytics
06:50 19.03.2018
Recommendation:

SELL 0.774

SL 0.7795

TP1 0.766 TP2 0.7635 TP3 0.757

On the daily chart of AUD/USD, the inability of bulls to rise above resistance near 0.79 was the first signal of their weakness. The return of the pair inside the downtrend and their exit from the downside channel means that bears seized the initiative.

On H1, the closeness of 113% target of the “Shark” increases the odds of consolidation. Bears are in control of the situation, so the pullbacks may be used for selling.

More:
https://goo.gl/uwB59q

 

[riki143]

EUR/USD Daily analytics
07:40 19.03.2018
Technical levels: support – 1.2260, 1.2210; resistance – 1.2300.

Trade recommendations:

Sell — 1.2280; SL — 1.2300; TP1 — 1.2210; TP2 — 1.2130
Reason: narrowing irregular bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market are in the negative area and made the new lows.

More:
https://goo.gl/LzeMxV

 

[riki143]

GBP/USD Daily Analytics
07:41 19.03.2018
Technical levels: support – 1.3890; resistance – 1.3940, 1.4010.

Trade recommendations:

Buy — 1.3950; SL — 1.3930; TP1 — 1.4010; TP2 — 1.4070.
Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the market is still on the support of the Cloud.

More:
https://goo.gl/D1ai5a

 

[riki143]

GBP/USD Daily Analytics
10:56 19.03.2018

There's a bullish "Flag", so the market is likely going to test the next resistance at 1.3996 - 1.4069. This area could be a starting point for a decline towards another support at 1.3928 - 1.3888.

The price is still consolidating in a range of the developing "Flag" pattern. Also, there's a pullback from the Moving Averages, so the pair is likely going to test the closest resistance at 1.3996 - 1.4023 in the short term.

More:
https://goo.gl/joz4TP

 

[riki143]

EUR/USD Daily Analytics
10:58 19.03.2018

The main trend is still bullish, but there's a "V-Bottom" pattern, so the market is 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.

There're two "V-Bottom" patterns in a row, so it's time for a bullish correction. The main intraday target is the nearest resistance area at 1.2313, which could be a departure point for a decline in the direction of the next support at 1.2254 - 1.2233.

More:
https://goo.gl/rDDTZk

 

[riki143]

USD/JPY: FOREX OUTLOOK
08:48 19.03.2018

More:
https://goo.gl/tPnmQY

The yen is appreciating against the greenback again. Despite attempts of the US dollar to return its positions, news from the White House did not let the greenback to recover. Worries about the Trump’s protectionism and trade wars were reinforced by the replacements in the White House. The US President fired the Secretary of State Rex Tillerson and appointed the ex-director of CIA Mike Pompeo to this position. Both economic and political international policy of the US may become tighter. A new White House economic adviser announced a tougher policy in regard to China. Today the dollar weakened further as investors considered the implications of continuing personnel turmoil in the Trump administration. According to the Washington Post, Mr. Trump plans to remove his national security adviser.

Now the pair has come to 61.8 Fibonacci Retracement, if it is able to break it, the next support lies at 105.5.

However, there are chances that the greenback will find the support next week and the direction of USD/JPY will finally change. On next Wednesday we anticipate the US rate’s hike. According to forecasts, the Fed will raise the interest rate to 1.75%. Furthermore, a scandal with Japanese finance minister that is related to the school land sale still puts pressure on the yen. If there is an escalation of the scandal, the yen will weaken. That is not so bad for the Japanese currency because the dollar’s plunge below 105 will be critical for the yen and the Bank of Japan policy.

 

[riki143]

GBP/USD: BULLISH "FLAG" PATTERN
10:56 19.03.2018

More:
https://goo.gl/cUVypL

There's a bullish "Flag", so the market is likely going to test the next resistance at 1.3996 - 1.4069. This area could be a starting point for a decline towards another support at 1.3928 - 1.3888.

The price is still consolidating in a range of the developing "Flag" pattern. Also, there's a pullback from the Moving Averages, so the pair is likely going to test the closest resistance at 1.3996 - 1.4023 in the short term.

 

[riki143]

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[riki143]

FBS Video Lessons

In this video Tutorial LESSON 14. DEFINITIONS: TREND, CORRECTION, REVERSAL, SUPPORT, RESISTANCE
It’s important to determine the trend because trading in the direction of the trend (buy during the uptrend and sell during the downtrend) is less risky and more profitable. As traders say, a trend is your friend.
Learn more
https://goo.gl/pa2bMU

Do not forget to chose your language from the video's subtitles

 

[Andrea ForexMart]

British Chambers of Commerce Upgrade UK Economic Outlook


The British Chambers of Commerce (BCC) lifted its forecast for the UK economic growth, however, showed warning that UK will be the worst performing economy among other G7 countries in 2020. The GDP outlook of the BCC is 1.1 to 1.4 percent for this year and 1.3 to 1.5 percent in 2019.While, the initial growth forecast is 1.6 percent for 2020, as the revision was steered by the slightly stronger than anticipated consumer expenditure. Moreover, exports from Britain is predicted to remain stable amid robust global growth. On the other hand, imports could possibly resume its expansion and the net trade contribution to the country’s GDP in the short term appears to be limited, as the pound support Britain’s overall net trade position. In spite of the increases, the UK GDP is expected to remain below the historical average during the forecasting period.


The non-profit organization stated that productivity is projected to have slight improvement compared over its estimated outcome but continued to be weak restrained by the underlying issues within the country, such as skills shortages and failure in infrastructure investment. The BCC expects that inflation will pick up and start to ease in the near term since the impact of the post-Brexit toned down upon the weakening the Sterling. Furthermore, there are assumptions that the next hike in UK official interest rates will reach 0.7 percent in the second quarter of 2018, which could be followed by another rise in Q1 next year. The business body foresees that public sector borrowing in Britain will come in over £13.4bn for the next three years compared with the projection issued at the Spring Statement by the Office for Budget Responsibility last week.

 

[riki143]

USD/CAD Daily Analytics
06:54 20.03.2018
Recommendation:

BUY 1.2960

SL 1.2905

TP1 1.3060 TP2 1.3250 TP3 1.3350

On the daily chart of USD/CAD, the pair reached 113% and 127.2% targets of “Shark” and AB=CD. This increases the risk of a correction. At the same time, as long as the pair remains above 1.2915, bulls are in total control of the situation.

On H1, there’s a sustainable uptrend. The pair’s confidently moving towards 161.8% target of AB=CD. In case of a pullback with the following recovery from support levels at 1.3000 and 1.2960, traders will have a chance to open long positions.

More:
https://goo.gl/ECB3D5

 

[riki143]

XAU/USD Daily Analytics
07:15 20.03.2018
Recommendations:

BUY 1302

SL 1287

TP1 1.332 TP2 1340 TP3 1365

On the daily chart of XAU/USD, there is consolidation in the range of 1302-1340 within the “Spike and ledge” pattern on the base of 1-2-3. A break of the bottom line will increase risks of decline to the 88.6% target of the “Bat” pattern. Vice versa, a successful hit of the resistance at 1340 may lead to a recovery of the uptrend.

On H1, a realization of “Head and shoulders” and AB=CD patterns is continuing. If the pair reaches the 161.8% target of the AB=CD pattern, reversal risks will increase.

More:
https://goo.gl/Txae7V

 

[riki143]

AUD/USD Daily Analytics
07:20 20.03.2018
Technical levels: support – 0.7690; resistance – 0.7740, 0.7780

Trade recommendations:

Buy — 0.7700; SL — 0.7680; TP1 — 0.7740; TP2 — 0.7780.
Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market is oversold and aussie may go to Tenkan-sen in correctional movement.

More:
https://goo.gl/nbMcDv

 

[riki143]

USD/JPY Daily Analytics
07:22 20.03.2018
Technical levels: support – 105.80; resistance – 106.25.

Trade recommendations:

Buy — 106.30; SL — 106.10; TP1 — 107.50; TP2 — 107.80.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.

More:
https://goo.gl/E7WTEF

 

[riki143]

EUR/USD Daily Analytics
12:13 20.03.2018

There're bearish patterns such a "Tower" and a "Shooting Star", which both have been confirmed. So, the market is likely going to test the 144 Moving Average, which could be a departure point for another bullish price movement.

The last bearish "High Wave" pattern led to the current decline. It's likely that the pair is going to test the next support area in the short term. If any reversal pattern forms afterwards, bulls will probably try to deliver an upward price movement.

More:
https://goo.gl/dH88Xq

 

[riki143]

USD/JPY Daily Analytics
12:15 20.03.2018

The pair has been rising since the last "Engulfing" pattern formed. The main target is the 89 Moving Average. If a pullback from this line happens little later on, there'll be a moment for another decline.

There's a bearish "High Wave" pattern, which hasn't been confirmed yet. So, if a pullback from the Moving Averages happens, bulls are likely going to test the upper "Window".

More:
https://goo.gl/ncX2VK

 

[riki143]

USD/JPY: MAIN TARGET IS 89 MA
12:15 20.03.2018

More:
https://goo.gl/tcsdvZ

The pair has been rising since the last "Engulfing" pattern formed. The main target is the 89 Moving Average. If a pullback from this line happens little later on, there'll be a moment for another decline.

There's a bearish "High Wave" pattern, which hasn't been confirmed yet. So, if a pullback from the Moving Averages happens, bulls are likely going to test the upper "Window".

 

[riki143]

EUR/USD: BEARISH "HIGH WAVE" PATTERN
12:13 20.03.2018

More:
https://goo.gl/Hij5fh

There're bearish patterns such a "Tower" and a "Shooting Star", which both have been confirmed. So, the market is likely going to test the 144 Moving Average, which could be a departure point for another bullish price movement.

The last bearish "High Wave" pattern led to the current decline. It's likely that the pair is going to test the next support area in the short term. If any reversal pattern forms afterwards, bulls will probably try to deliver an upward price movement.

 

[riki143]

SCALPING STRATEGIES

These trading strategies are designed only for those who prefer entering market frequently and taking small profits each time. The scalping strategies should be employed on the lowest time frames available on the Metatrader 4 (1-minute and 5-minute time frames would be perfect).
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Rapid-fire strategy and
Piranha strategy
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