Market analysis and trade recommendations by FBS

[riki143]

USD/CHF Daily Analytics
06:38 28.02.2018
Recommendation:

BUY 0.9415

SL 0.936

TP1 0.9515 TP2 0.96 TP3 0.977

On the daily chart of USD/CHF, bulls are gradually moving towards triggering the “Shark” pattern and its 88.6% target. The conditions necessary to continue the rally include the pair’s settling above support at 0.9380 and advance above resistance at 0.9450.

On H1 of USD/CHF, another test of resistance at 0.9410-0.9415 will increase the odds of a “Shark” pattern with a target at 88.6%. At the same time, the AB=CD pattern with targets at 200% and 224% will become viable.

More:
https://goo.gl/9Dj81w

 

[riki143]

GBP/USD Daily Analytics
06:43 28.02.2018

Recommendation:

SELL 1.3850

SL 1.3905

TP1 1.375 TP2 1.3645 TP3 1.358

On the daily chart, GBP/USD is consolidating in the 1.3820-1.4050 range within the “Spike and ledge” pattern on the basis of 1-2-3. A break of its lower border will allow bears to continue correction towards 88.6% of the “Bat”. On the other hand, advance above resistance at 1.4050 will lead to the uptrend’s resumption.

On H1, GBP/USD after forming “Wofle waves” and a pullback from the upper border of the downtrend channel bears are ready to continue the decline.a

More:
https://goo.gl/p3cyVZ

 

[riki143]

EUR/USD Daily Analytics
13:05 28.02.2018

The Moving Averages have acted as resistance, so the price is declining. However, we've got a bullish "High Wave" pattern, so there's an opportunity to have a local bearish correction in the short term. Nevertheless, the market is likely going to continue moving down afterwards.

There're bullish patterns such a "Harami" and a "Hammer", but both of them haven't been confirmed yet. So, the price is likely going to test the 55 Moving Average, which could be a departure point for another decline.

More:
https://goo.gl/DnFm1n

 

[riki143]

USD/JPY Daily Analytics
13:07 28.02.2018

The 34 Moving Average has acted as resistance, so there's an "Evening Star", which has been confirmed. Therefore, the pair is likely going to test the nearest support area in the coming hours.

There's a pullback from the lower "Window", so we've got an "Inverted Hammer" pattern. In this case, we're likely going to have a local upward correction soon. Meanwhile, bears will probably try to deliver a new local low afterwards.

More:
https://goo.gl/m3SAR3

 

[riki143]

Forex Basics.

Technical indicators are divided into several groups depending on their purpose. As purposes of the indicators are different, a trader needs not one, but a combination of several indicators to open a trade. In this article, we will tell about the three most popular technical indicators. Find out which ones are these https://goo.gl/D78QJt

 

[riki143]

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[riki143]

EUR/USD Daily Analytics
00:06 01.03.2018

The main trend is still bullish, but there's a developing bearish correction, so we should keep an eye on the next support at 1.2129 - 1.2050 as an intraday target. If a pullback from this area happens little later on, we could have an upward price movement towards the nearest resistance at 1.2205 - 1.2246.

The price is consolidating between the levels 1.2233 - 1.2205. The main intraday target is the closest resistance at 1.2233, which could be a departure point for a decline in the direction of the next support at 1.2164.

More:
https://goo.gl/BXHDBT

 

[riki143]

GBP/USD Daily Analytics
00:07 01.03.2018

All the Moving Averages have been broken, so the price is declining. It's likely that bears are going to test the nearest support at 1.3656. If a pullback from this level happens little later on, we could have an upward price movement towards the closest resistance at 1.3799 - 1.3835.

The last "Triangle" pattern led to the current decline. Meanwhile, it's likely to have a bullish correction in the short term. However, if we see a pullback from the nearest resistance at 1.3763 - 1.3799, there'll be a moment for another decline.

More:
https://goo.gl/w47KZ9

 

[riki143]

AUD/USD Daily Analytics
06:04 01.03.2018
Technical levels: support – 0.7690; resistance – 0.7790

Trade recommendations:

Buy — 0.7690; SL — 0.7670; TP1 — 0.7760; TP2 — 0.7790.
Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with the falling lines; the market made a new lows of the year, but there is a strong support on 0.7690.

More:
https://goo.gl/hPPzB1

 

[riki143]

USD/JPY Daily Analytics
06:06 01.03.2018
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 falling Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal and narrowing channel Tenkan-Kijun; the bears are breakdown the support of Senkou Span A, Tenkan-sen and Kijun-sen and the market may continue existing downtrend.

More:
https://goo.gl/FhKhuo

 

[riki143]

EUR/JPY Daily Analytics
07:49 01.03.2018
Recommendations:

BUY 131.65

SL 131.1

TP1 132.65 TP2 133.7 TP3 134.3

On the daily chart EUR/JPY, the pair reached the 113% target of the “Shark” pattern. As a result, risks of the correction increased. The return of the pair to the previous low is a necessary condition for its implementation. If bulls fail, it will mean their weakness.

On H1, EUR/JPY reached targets of the triangle. Currently, “Wolfe Waves” pattern is developing. To implement it, the pair should come back to the resistance at 131.65 with its subsequent successful test.

More:
https://goo.gl/68kRgj

 

[riki143]

USD/JPY Daily Analytics
07:53 01.03.2018
Recommendations:

BUY 107.85 SL 107.3 TP1 108.9 TP2 109.4 TP2 109.9

SELL 105.95 SL 106.5 TP1 104.95 TP2 103.95 TP3 102.8

On the daily chart USD/JPY, there is a short-term consolidation within the downtrend. A break of its lower bound near 106.6 will give hope to bears for the implementation of 127.2% and 161.8% targets of the AB=CD pattern.

On H1 of USD/JPY, bulls are trying to return quotations to the triangle and take the pair beyond the downtrend channel. If bulls succeed, the “Bat” pattern with the 88.6% target may be implemented.

More:
https://goo.gl/CJWMFS

 

[riki143]

EUR/USD Daily Analytics
13:31 01.03.2018

There's an "Inverted Hammer", which hasn't been confirmed yet. So, the price is likely going to test the 21 Moving Average, which could be a departure point for another decline.

We've got a "Shooting Star", which has formed at the last local high. In this case, the pair is likely going to reach the nearest support area. If any bullish pattern forms little later on, there'll be a moment for an upward correction.

More:
https://goo.gl/Xt1Biq

 

[riki143]

USD/JPY Daily Analytics
13:33 01.03.2018

The last "Evening Star" is still on the table, so the price is likely going to continue declining. Meanwhile, if a pullback from the nearest support area happens, we could have a bullish correction.

There's a bullish "High Wave", which has been confirmed enough. So, the pair is likely going to reach the nearest resistance area, which could be a departure point for another decline.

More:
https://goo.gl/LdJ4sU

 

[riki143]

USD/JPY: BULLISH "HIGH WAVE"
13:33 01.03.2018

The last "Evening Star" is still on the table, so the price is likely going to continue declining. Meanwhile, if a pullback from the nearest support area happens, we could have a bullish correction.

There's a bullish "High Wave", which has been confirmed enough. So, the pair is likely going to reach the nearest resistance area, which could be a departure point for another decline.

More:
https://goo.gl/wV1H3G

 

[riki143]

EUR/USD: "INVERTED HAMMER" PATTERN
13:31 01.03.2018

There's an "Inverted Hammer", which hasn't been confirmed yet. So, the price is likely going to test the 21 Moving Average, which could be a departure point for another decline.

We've got a "Shooting Star", which has formed at the last local high. In this case, the pair is likely going to reach the nearest support area. If any bullish pattern forms little later on, there'll be a moment for an upward correction.

More:
https://goo.gl/P8z63H

 

[riki143]

Forex Strategy

TURTLE SOUP TRADING STRATEGY “COOKED” BY L. RASCHKE.


Today we will tell you about the trading strategy named Turtle Soup. The group of traders who called themselves Turtles used almost the same techniques for the active profit-taking. One very successful commodity and futures trader – Linda Bradford Raschke – combined her own trading techniques and those that were used by Turtles, created a brand-new strategy and dubbed it Turtle soup.

Read in this articles the details of this strategy https://goo.gl/2M7DXg

 

[riki143]

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[riki143]

Economic Events

GDP is the broadest measure of a country’s economic activity and the primary gauge of the economy’s health.

Canadian GDP data differs from that of other countries because it is released on the monthly basis and not just once in a quarter like in the United States or the euro area. As a result, we can get more accurate figures and have a better judgement about what’s happening in Canada.

USD/CAD is quite volatile, so if the figures exceed expectations, the CAD will be able to improve its positions.

Follo this event on the FBS Economic Calendar https://goo.gl/E8TJJf

 

[riki143]

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