Market analysis and trade recommendations by FBS

[SebsCubs]

Weekly CryptoNews

More at: http://bit.ly/2Qe6NoM

02.11.2018

Tom Jessop, head of Fidelity Digital Asset Services: “I think we are starting to see an acceleration… I don’t know what phase (innovator, early-adopter, early majority, etc.) we are in, but I think that with some of these recent announcements we are now seen as this interesting and transformative asset class… So, we can expect more news heading into 2019 that raises the bar and helps growth in the [crypto and blockchain] market.”

Happy Birthday, Bitcoin! 10 years ago Nakamoto published the whitepaper of the granddad for all cryptocurrencies. It has been a complicated period for the digital asset with its ups and downs, however, a lot of achievements have been made since the beginning of its route. We wish it more recognition and adequate regulations in the upcoming years. Finally, to reach the moon!

Last days Bitcoin was making small movements towards this direction. Digital asset rose from the fall after the hacking attack of the Canadian crypto trading platform MapleChange. On Thursday, the price for Bitcoin tested the resistance at $6,394. If Bitcoin is supported by positive events, it can rise to the next resistance at $6,509. In case of negative news, the pair will fall to the support at $6,334. In case of the breakthrough, the next support at $6,218.



Altcoins:

Stablecoin Tether stabilized, however, it has lost around 1 billion of its capitalization.

Regulations:

Financial Services Authority (FSA) will review the ban of crypto derivatives in 2019.

New releases:

Canadian crypto trading platform Maplechange announced the hackers stole all of its money and afterward deleted its site. Scam alert?
Bank of America patented the method of holding private keys, which can be used in cryptocurrencies.
Ernst&Young presented a new tool for private transactions on the Ethereum public blockchain, using a protocol with zero disclosure.
Vitaly Buterin announced Ethereum 2.0, which will work on POS-mining.
Hong Cong trading platform HKEX will apply Blockchain to analyze the trading results.
Bithumb will launch a platform with security tokens in the US as a partnership program with SeriesOne investment company.
JP Morgan is planning to tokenize gold using its blockchain Quorum.
Venezuela’s controversial cryptocurrency Petro was released. It can be bought only from the Superintendency of Cryptoassets and Related Activities (Sunacrip).

Other:

John McAfee will run for president in 2020 to promote cryptocurrency. Will he make Bitcoin great again?


Bitcoin $6,406.8(+0.57%)

DASH $157.6 (+0.46%)

Ethereum $200.35 (+0.89%)

Litecoin: $50.5 (+1.90%)

 

[SebsCubs]

5 important things this week will bring us!

More at: http://bit.ly/2ANuFdx

05.11.2018

US ISM non-manufacturing PMI (Mon, 17:00 MT time) – the level of business conditions for the service sector is expected to moderate from 61.6 to 59.3 for October. The increase of the index in September was unexpected and connected with an improvement in the sub-indices. If the actual level outperforms the forecasts, the US dollar index will rise.
Reserve bank of Australia (RBA) rate statement (Tue, 5:30 MT time) – we do not anticipate the rate hike, however, the press release may contain clues to the future revisions of the bank's policy.
Reserve bank of New Zealand rate statement (Wed, 22:00 MT time) – the central bank of New Zealand will conduct its press conference. As well, we expect the interest rate to remain at 1.75%, but the bank can throw some hints on changing its monetary policy.
US Federal funds rate and the Federal open market committee (FOMC) statement (Thu, 21:00 MT time) – We can expect the FOMC to downgrade its assessment of business investment growth after the slowdown in nonresidential fixed investment growth. The falls in equity prices tightened the financial conditions of a country, so the FOMC may discuss some measures to support the economic conditions.
British preliminary GDP q/q (Fri, 11:30 MT time) – the economic growth for the 3rd quarter is forecast to increase to 0.6%. A higher-than-expected level will support the GBP.

Hot topics:

The US anticipates the midterm congressional elections on Tuesday, November 6. The preliminary data suggests Democrats are most likely to take control of the House, while Republicans will continue to control the Senate. If the Republican Party keeps controlling most of the sits, the USD will be supported. In case Democrats will win, the greenback most likely will fall.
UK Brexit Secretary Raab continued the negotiations on the Irish border. He wants the UK Prime minister Theresa May to take the hard line over it. Earlier, she announced the final paper on Brexit deal will be out on Tuesday.
The Chinese president Xi made a statement about his plans on the open country economy to the world amid the trade war with the US.

Have a successful week of trading!

 

[SebsCubs]

How to use volume indicators in trading?

http://bit.ly/2Or5j93
Forex market is decentralized so it’s not possible to count all the contracts and their sizes like it’s done at stock markets. As a result, Forex traders use indicators of tick volume. Read in this article how to work using volume indicators.
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[SebsCubs]

News to trade on November 7

Here the candlesticks: http://bit.ly/2SSHGtl

07.11.2018

During the mid-term Congressional elections in the US, the Democrats took more than 30 sits in the House of Representatives. The Republicans will have the control of the Congress. The divided Congress will make it difficult for US president Trump to apply any arguable domestic reforms such as immigration reform and reform on infrastructure investments. That is why analysts anticipate Trump to pay attention to foreign and trade policies. The election results weakened the USD, making the US dollar index test the support at 95.72. If the USD is supported, the index will rise towards the resistance at 96.35. Otherwise, it will fall below 95.72.


The weak greenback strengthened other key currency pairs.

The pair EUR/USD got the upside momentum from the election results and the risk-on sentiment in the equity market. For now, it is testing the resistance at 1.1461. A further weakness of the USD will help the euro to stick above 1.1461. However, negative news in the Eurozone can pull the pair downwards to the support at 1.1381.

GBP/USD continues to move up on this week’s Brexit hopes and election results. Yesterday, the cable rose to the resistance at 1.3105. More concerns on the Brexit outcome can help the pair to climb above 1.3105. The next resistance lies at 1.3248. However, new uncertainties can push GBP/USD below 100-day MA at 1.3036. In that case, the support level to watch is at 1.2899.

The weak USD also affected USD/JPY. The risk-on sentiment in the equity markets did not hold the pair near the resistance at 113.797. On a daily chart at 10:30 MT time, the election results made the USD to trade against the JPY in the red zone. If the pair extends falls, the support is at 112.785. In case the USD is supported by the news, the pair will return to the resistance at 113.797.

In other news, the most anticipated event for today from the economic calendar is the press conference of the Reserve bank of New Zealand at 23:00 MT time. No major changes to its monetary policy are expected, however, the bank can surprise with the hawkish comments, especially after yesterday's strong employment release. The unemployment rate fell to 3.9% (vs 4.4% expected) and employment change increased by 1.1% (vs. 0.5% expected). As a result, the NZD blew off crossing the resistance at 0.6719. For now, NZD/USD is targeting the resistance at 0.6793. New negative comments on the trade war can weaken the kiwi and push it below 0.6719. Hawkish comments from the RBNZ can help it to stick above 0.6793.

Yesterday, Iran’s oil minister said the sanction from the US would not cut Iran off the oil markets. Earlier, Trump commented the sanctions would come into effect slowly to avoid the high prices. In addition, the US allowed 8 biggest importers keep buying Iranian oil. Brent fell to its August levels trading near $71.94 per barrel. The support for the price lies at $70.47. Today we anticipate the release of crude oil inventories. If the data is lower than the forecast, the prices will rise and the resistance to watch is at $74.24.

As for WTI, it fell to $61.94 per barrel. The next support is at $61. Shortage of oil production will push the price to the resistance at $64.45.

Follow us for more news!

 

[SebsCubs]

Beginner most common questions about Forex.

When is Forex market open?

There are trading sessions which correspond to the time during which stock markets are open in a particular region of the world. Learn more about this here http://bit.ly/2JMICLx
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[SebsCubs]

Weekly CryptoNews

More at: http://bit.ly/2SX2EqS

09.11.2018

BitMEX CEO Arthur Hayes: “Contrary to popular belief, Bitcoin requires volatility if it is ever to gain mainstream adoption. The price of Bitcoin is the best and most transparent way to communicate the health of the ecosystem. It advertises to the world that something is happening–whether that is positive or negative is irrelevant.”

The week started bullish for Bitcoin. On Wednesday, the price crossed the resistance at 50-day MA at $6,516 and afterward tested the next psychological resistance at $6,563. However, it failed to continue moving towards $6,662 and bounced back below $6,516. Despite the market speculations, the volatility of the digital asset remains extremely low. ATR is situated at its lowest levels. If buyers take over, it can push the price towards $6,516 again. In case of a bear market, the support lies at the pivot point at $6,400.

Other news:

Regulations:

The People's Bank of China is planning to ban airdrop as it can be used for conducting hidden ICOs.
Taiwanese financial regulator banned anonymous crypto transactions and obliged trading platforms to pass personal data of clients to it.
The Swiss financial market supervisory authority advised banks to set the risk coefficient for crypto assets at 800% to cover market and credit risks, regardless of whether the positions are held in the banking or trading book.
Tax regulating department of Thailand is planning to use blockchain for following the tax evasions.
Government banks of Venezuela started to show the sum on clients’ accounts in Petro cryptocurrency.
The Brazilian prosecutor's office started the investigation of the money-laundering through Deltec Bank which is Tether partner.
The BBVA bank from Spain gave the first credit with financial data recorded in blockchain Ethereum. The approximate sum of the loan is $150 million.
The French government will make the taxation for crypto asset owners easier. The tax will reduce from 36% to 30%.

New releases:

OKEx launched margin trading of XRP/BTC and LTC/BTC. As a result, Ripple rose and outperformed Ethereum, while Litecoin ignored the news.
It’s now possible to buy Litecoin for the fiat currencies at Litecoin.com.

Events to trade on BTC, Ethereum, Litecoin and Dash in the upcoming week:

November 12 - Bitcoin (BTC) - Bakkt Bitcoin BTC Futures Launch

November 15 - Bitcoin Cash (BCH) - Hard Fork

Bitcoin $6,406.8(+0.57%)

DASH $168.1 (-5.9%)

Ethereum $200.35 (+0.89%)

Litecoin: $50.5 (+1.90%)

 

[SebsCubs]

5 important things this week will bring us!

More at: http://bit.ly/2PRC97z

12.11.2018

British CPI y/y (Wed, 11:30 MT time) - The level of inflation for September declined to 2.4% from 2.7% in August. The index dropped because of a slowdown in food, transport, recreation, and closing prices. This month it is expected to reach 2.5%. Will it support the struggling GBP?

US CPI & core CPI m/m (Wed, 15:30 MT time) – the level of inflation in the United States rose by 0.1% in September, as well as the core inflation excluding energy and food. In October, CPI and core CPI are forecast to come in 0.3% and 0.2% respectively.

Australian employment change & unemployment rate (Thu, 2:30 MT time) – Australian level of employment increased by 5,600 jobs in September. This release came out lower than expected 15,200 jobs. In October we anticipate Australia to add 20,300 jobs. At the same time, the unemployment rate fell to 5% in September from 5.3% in August. Analyst forecast the level of unemployment to reach 5.1%.If the employment change is higher than expected and the unemployment rate is lower than expected, this will be the good news for the Australia dollar.

British retail sales m/m (Thu, 11:30 MT time) – UK retail sales fell by 0.8% in September, worse than forecasts of -0.4%. In October, the indicator is expected to increase by 0.1%

US retail sales & core retail sales m/m (Thu, 15:30 MT time) – As for the US data, last month the level of retail sales came out lower than expected. It rose by 0.1%. This time we expect the indicator to increase by 0.6%. Speaking of core retail sales, it declined by 0.1% in September. In October, the change in sales excluding automobiles is forecast to increase by 0.5%. Higher-than-expected data will support the US dollar.

Hot topics:

The British pound extends falls as the European Union rejected the latest May’s plans for an independent mechanism that would allow Britain to leave from any temporary customer agreement. In addition, 4 British ministers are on verge of quitting Theresa May’s government over Brexit.
At the beginning of this week, the Italian government prepares to resubmit its draft budget. The target deficit of 2.4% would remain unchanged, however, Italy may set a growth target of 1% instead of a previous target of 1,5%. We will keep an eye on a European Commission deadline on Tuesday.
During the OPEC+ the plans for cutting the supply in 2019 were announced. OPEC+ would keep inventory in a narrow band and maintain a long-term market balance. It supported oil prices.

Have a successful week of trading!

 

[SebsCubs]

News to trade on November 13

Check the candles! : http://bit.ly/2qJid8I

13.11.2018

The British quarterly average earnings report was released today at 11:30 MT time. It reached 3% in this quarter as well as it was expected. It gave a positive momentum for the British pound. Hopes that the British Prime Minister Theresa May will present a draft of a workable Brexit deal by the November’s EU summit exist but still not clear.

Yesterday the strong US dollar in a combination with never-ending Brexit tensions made the cable form a gap and test the support at 1.2817. Today’s release helped the British pound to test the resistance at 1.2896. However, more negative news on Brexit can push the pair below 1.2817.

Italy is expected to resubmit its unfortunate budget today. Last month the European Commission rejected its budget, due to the lack of deficit control. However, Italy made very little changes to it. So, if the European Commission changes its mind today, watch EUR/USD turns bid.

As we can see from the chart, yesterday a strong US dollar pushed the pair below the psychological level at 1.13 and made it fall below the next support at 1.1265. A series of lower highs created a bearish scenario for the pair. If the Italian budget to be approved today, the pair will have a chance to cross 1.1265. The next resistance lies at 1.13. In case of more uncertainties, the next support lies at 1.1197.

During the Asian session, Chinese trade war negotiator announced his plans on visiting the US for trade talks. He attempts to ease rising trade tensions ahead of a meeting of Chinese president Xi and US president Trump.

As a result, the Australian dollar bounced from the support at 0.7171 and is heading towards the resistance at 0.7237. If the bullish pressure continues, the aussie can stick above 0.7237. The strong USD can pull the pair below the support at 0.7171. The next support for the pair lies at 0.7117.


As for NZD/USD, the pair is testing the resistance at 0.6726. The next resistance lies at 0.6825. If the USD is strong, the pair can fall downwards to the support at 100-day MA at 0.6658.

Positive update of the trade negotiations increased the risk-on sentiment across the Asian equity markets. That is why USD/JPY is targeting the resistance at 114.268. The bullish pressure will help the pair to stick above 114.268. If the USD is weak, the pair will fall below the support at 113.609.

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[SebsCubs]

Trading Styles and strategies. Day trading

http://bit.ly/2B4y7jY
It is another short-term trading style. A day trader normally takes a single trade a day and closes it once the day is over.

The key goal of a day trader is to generate profits within the course of a day; they don’t like keeping their position open overnight.

Since day traders frequently turn over their positions, they normally trade with liquid currencies to limit spread costs.
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[SebsCubs]

News to trade on November 15

Check the candlesticks: http://bit.ly/2qMqjO9

15.11.2018

The series of unfortunate events are chasing the British pound today. At first, the release of retail sales dropped by 0.5% (vs. the expected rise of 0.2%). After that, the UK Brexit Minister Dominic Raab announced his resignation. According to his words, he cannot further support the current terms of the Brexit proposal to EU. Despite that, the UK Conservative Lawmaker said that committee has the 48 letters calling for a no-confidence vote against the UK PM May As a result, GBP/USD fell significantly testing the October's lows. Up to this moment, it is testing the support at 1.2817. If more uncertainties appear, GBP/USD can extend slide towards the support at 1.2677. Positive news on Brexit will help the pair to recover. If it happens, the resistance for the pair lies at 1.3035.

The United States is awaiting the releases of retail sales and core retail sales at 15:30 MT time. Experts forecast the total retail sales to increase by 0.6% in October. At the same time, the level of retail sales excluding automobiles will rise by 0.5%. Higher-than-expected levels will be supportive for the greenback. In addition, the speech by the Fed Chair Powell at 18:30 can bring some optimism to US dollar bulls.

Earlier today, the Fed Chair Jerome Powell could not help the USD to recover from the weak CPI release. As a result, the US dollar index could not hold its price at 97 level. If the USD gains support today from the retail release, it will rise above the resistance at 97.21. Otherwise, it can fall towards the support at 96.35, unless the Fed Chair fails to deliver a positive message.

The level of crude oil inventories is anticipated at 18:00 MT time. The number of barrels is projected to increase by the additional 2.9 million. If the actual level is higher, the oil price will extend its losses. Recently, OPEC announced the future plans of 1.4 million production cut in December. As a result, Brent gained, testing the 66.06 resistance yesterday. If OPEC continues to follow the strategy of rising barrel prices, Brent can cross the resistance at 66.06. The next resistance lies at 67.96. However, the increased levels of oil production will drive Brent towards the support at 62.98.

As for WTI, it also rose and tested the resistance at 56.26. The supply cut will pull the price above the 56.26. The next resistance is placed at 58.11. Bearish pressure can move WTI downwards to the next support at 53.25.

The upbeat employment data for Australia supported the aussie today. The number of employed people increased by 32.8 thousand workers (vs. 19.9 expected) and the unemployment rate hit 5% (vs. the expectations of 5.1%). It helped the Australian dollar to cross the 100-day MA at 0.7254 and test the resistance at 0.7292. Risk-on sentiment across the equity market will help the Australian dollar to stick above 0.7292. However, the US Vice President Mike Pence said about no plans of meeting with Chinese officials in near future. It can increase the US-China uncertainties according to the future direction of the trade war and make the aussie fell below the support at 0.7237 towards the next support at 0.7171.


Follow us for more news!

 

[SebsCubs]

Japanese exports rebound in October

More at: http://bit.ly/2FnSNaQ

16.11.2018

In October, Japan's exports rebounded following dives provoked by a series of natural disasters. That’s what a Reuters survey disclosed on Friday. However, fears over global demand as well as the US-China trade conflict still pressure.

Exports were anticipated to leap by 9% in October from 2017. That’s the fastest tempo of gain since January, according to the interview of 16 financial analysts. In September, they dived by 1.3%.

As for imports, they rallied by 14.5% from 2017, providing a trade deficit of up to 70 billion yen.

Financial analysts told that the overall tempo pace of expansion in global trade is currently decelerating and Japan’s exports surge has appeared to be quite sluggish. However, they’re assured that adverse impacts from natural disasters diminished.

Notwithstanding the fact the American economy is firm enough, but the economies in other areas are slumping, thus impacting global trade, including Japan's exports.

The finance ministry is expected to uncover the trade data at 8:50 a.m. on November 19.

In addition to this, the survey also disclosed that the nationwide core consumer price index without fresh food prices, but with fuel costs managed to head north by up to 1% in October from 2017. That’s a steady outcome from September.

Besides this, financial analysts added that leaps in crude prices till September probably assisted to ramp up costs of energy-related items, although those weren’t firm enough to have the core CPI underpinned.

Furthermore, the Japanese government is expected to uncover the CPI data on November 22 at 8:30 a.m.

As a matter of fact, Japan's economy headed south more than anticipated in the third quarter, affected by natural disasters as well as a dive in exports. That’s a worrying sign that trade protectionism is starting to heavily impact overseas demand.

 

[SebsCubs]

5 things you need to know this week

More at: http://bit.ly/2Kje8RW

19.11.2018

Reserve bank of Australia monetary policy meeting minutes (Tue, 2:30 MT (00:30 GMT)) – the central bank is anticipated to repeat its positive economic forecasts, at the same time being cautious about the further steps in monetary policy.

Speech by the Bank of Japan governor Kuroda (Tue, 5:30 MT (3:30 GMT)) – On Monday the Japanese governor Haruhiko Kuroda said about the good conditions of the economy. BOJ will continue to conduct its ultra-loose monetary policy, according to his words. He mentioned the declining profits of regional banks as one of the risks of destabilizing the financial system. We will see, how his speech in Tokyo on Tuesday can affect the Japanese currency.

British inflation report hearings (Tue, 12:00 MT (10 GMT)) – the Governor of the Bank of England and the monetary policy committee are scheduled to present the inflation report to the Parliament.

US Core durable goods orders m/m (Wed, 15:30 MT (13:30 GMT) – the indicator is expected to rise by 0.4%. It represents the change in the total value of new purchase orders for durable goods, excluding transportation items.

Canadian CPI and core retail sales m/m (Fri, 15:30 MT (13:30 GMT)) – Last months' digits for both of the indicators disappointed the investors. They fell by 0.4% (vs. expected rise of +0.1%). The forecasts have not been released yet, but we are awaiting them closer to the release. If this month's data is higher than the expectations, the Canadian dollar can gain.

Hot topics:

US vice president Mike Pence fueled the tensions between the US and China during the APEC talks in Papua New Guinea. He warned APEC nations against taking Chinese loans. At the same time, Chinese president Xi expressed his negative opinion on US tariffs. The disagreement on WTO reforms led countries to failure on reaching a consensus on the final statement after two days of speaking. As for the US and China, this weekend added doubts on reaching a further deal during the meeting of US president Trump and Xi Jimping at the G20 Summit.

Brexit news keeps attracting the attention of the market. For now, Theresa May received 42 votes of no-confidence. If this number reaches 48, the possibility for May to stay as a leader of the party and the prime minister will decline. In addition, Michel Barnier suggested prolonging a transition period for Great Britain to December 2022. We anticipate the special EU summit on November 25 as a date for discussing the deal between sides.

Oil fell after the comments made by Iranian president Rouhani. He noted that the US failed with sanctions. Iran will continue to supply oil to other nations.

The European Commission is expected to deliver its response to the proposal of the revised Italian budget on Wednesday. Earlier, Italy left its deficit target unchanged at 2.4 percent in 2019. Future uncertainties can shake the euro.

Have a successful week of trading!

 

[SebsCubs]

News to trade on November 20

Check the candlesticks: http://bit.ly/2OU6JZP

20.11.2018

The British pound started to recover yesterday after Theresa May’s comments on Brexit during the CBI conference. In addition, the rumors on submitting the no-confidence vote in her leadership started to fade after ministers failed to reach the target of 48 letters. Today, the Bank of England Governor Mark Carney testified the inflation report to the parliament. According to his words, BOE is not going to provide additional analysis of a no-deal Brexit scenario and look at a scenario related to the withdrawal agreement. In addition, BOE policymaker Michael Saunders commented on slowing economic conditions due to Brexit and announced the gradual tightening of the policy. The mixed comments resulted in GBP/USD trading sideways during the day. If there is more positive news on Brexit, the British pound can stick above the resistance at 1.2874. Dovish comments and negative news will move the pair down to the support at 1.2677.

OPEC-Joint Ministerial Monitoring Committee will have a meeting later today. Earlier, The International Energy Agency (IEA) Chief Faith Birol said the oil prices are entering the time of uncertainties. More comments from OPEC members can shake the oil market.

Crude is trading sideways while the comments from leaders on oil supply keep affecting the market. If the comments during the OPEC meetings are related to the reduction of oil production, Brent can rise towards the resistance at 67.86. Otherwise, it will fall downwards to the support at 63.85.

As for WTI, the uncertainties on the market yesterday formed a hanging man candlestick. It demonstrates the strong resistance at 57.48. The cut of the production can help WTI to stick above 57.48. More comments on unsuccessful US sanctions will make WTI drop towards 53.69.

Yesterday, International Monetary fund warned about the risks in the Australian economy. The key topics included the path of lower interest rates by RBA, slowing in the housing market and risks from trade tensions. In addition, the RBA announced the possible rate hike during the next meeting. However, it did not have a major effect on the AUD, as the risk-off sentiment across the technical stocks’ holders drove the aussie below the central pivot at 0.7237. Today, AUD/USD has tested the 50-day MA. If the risk-off sentiment escalates, the support for the AUD/USD lies at 0.7216. Otherwise, it will rise upwards to the resistance at 0.7390. In addition, the trade tensions between the US and China keep being the market mover. That’s why this news may affect the Australian currency.

The New Zealand dollar was supported today by the stronger milk production data. The trade tensions between the US and China will add a downside momentum to NZD/USD. In that case, it will fall towards the support at 0.6820. Otherwise, the first resistance lies at 200-day MA at 0.6882.

The main factors that affecting EUR/USD today are the anticipation of the response to the proposal of the revised Italian budget tomorrow. Italy's deputy Prime Minister Luigi Di Maio suggested the further negotiations on the budget solution with EU authorities without getting rid of main measures in the budget. For now, the spread between Italian and German 10-year bond yields keeps rising. As a result, the EUR has been falling today. If the spread increases, EUR/USD will drown to the support at 1.1350. However, if the USD weakens, it will have the pair to get back its gains. In that case, the resistance lies at 1.1451.

 

[SebsCubs]

News to trade on November 21

Candles at: http://bit.ly/2Aaj32B

21.11.2018

The US dollar index fell from the resistance at 96.69 ahead of the European session.

The release of core durable goods orders today at 15:30 MT time can impact on the further movement of the USD. Analysts expect it to increase by 0.4%. If the actual data outperforms the forecast, it will lift the greenback higher. In that case, the US Dollar index will stick above the 96.69 resistance. The next resistance for the index lies at 97.13. If the actual digits disappoint the market, the USD index will slide towards the support at 95.88.

The risk-off sentiment across the Asian equity markets has continued today amid the further declines on Wall Street. Despite that fact, the Antipodeans started bid on Wednesday after the massive falls yesterday. The weak US dollar can help the aussie to stick above the resistance at 0.7250 (100-day MA). However, the negative news on future negotiations between the US and China can have a negative effect on AUD/USD. For instance, US Trade Representative Robert Lighthizer criticized the trade practices of China, calling them "market-distorting". Further negative news on the trade war ahead of the meeting of the Chinese president Xi and US president Trump in a couple of weeks, as well as the stronger US Dollar, can pull the Australian dollar below the support at 0.7216. The next key level for AUD/USD lies at 50-day MA which acts as a support at 0.7170.

NZD/USD follows a similar scenario. The bullish US Dollar index and negative news on trade negotiations will move the pair down to the support at 0.6756. In case of the increased risk-on sentiment, the kiwi will stick above the resistance at 0.6820. The next resistance is situated at 200-day MA at 0.6882.

What about the European session?

At first, we anticipate the European Commission to make a decision on the revised Italian budget at 13:00 MT time. For now, the unchanged deficit targets in the budget may trigger worries, as Italy is in breach of the EU law. According to European sources, the public debt cannot be higher than 60% of GDP. However, Italy keeps being skeptical and says the expansionary measures are needed to support the whole European economy. If the European Commission disapproves the proposal, it will have a negative effect on the EUR. EUR/USD will likely to fall below the support at 1.1350. If the pair extends falls, the next support lies at 1.1280. However, if the budget targets are successfully renegotiated, EUR/USD will rise towards the resistance at 1.1487.

As for GBP/USD, the British Prime Minister Theresa May is scheduled to meet with the European Commission president Jean-Claude Juncker at 18:30 MT time ahead of the EU summit on November 25 where the official version of the Withdrawal Agreement to be presented. Yesterday GBP/USD fell amid the new uncertaintes. It demanded the Madrid's veto over Gibraltar's future status. Otherwise, it will vote against a deal. However, a single country cannot have a major influence on blocking the agreement. It is worth to mention, Gibraltar has been a major point of contention in British-Spanish relations.

If the British pound is supported by the positive Brexit news, it will go upwards to face the 1.2874 resistance. Further uncertainty will drive the cable down to the support at 1.2677.

The news reported the Saudi Arabian oil production surged to a record high in early November.

In addition, today the Iraq Deputy oil minister announced the OPEC will meet to stabilize the crude's prices and supply. Tomorrow they will meet to discuss the oil output cuts.

WTI was slightly lifted by the news. Yesterday it fell below the pivot support at 53.69. News on production cut will help WTI to rise above 53.69 and move towards the resistance at 57.48. If more news on the rising oil supply is published, the further falls will drive the oil price below the 53.69 level. The next support is placed at 50.97 pivot.

Brent fell below the 63.85 level yesterday. Comments on controlling the oil supply will help Brent to stick above the resistance at 63.85. Otherwise, it will fall downwards to the support at 60.65.

 

[SebsCubs]

News to trade on November 22

Check the candlesticks: http://bit.ly/2TzWm0T

22.11.2018

Please, note!

On November 22nd and 23rd due to Thanksgiving celebration, the trading schedule for metals and American futures will be changed.

On November 22nd:

•Trading for XAUUSD, XAGUSD, Palladium, Platinum will be closed at 20:00 MT;

•Trading for WTI, BRENT will be closed at 19:45 MT

On November 23rd:

•Trading for XAUUSD, XAGUSD, Palladium, Platinum will be closed at 20:45 MT

•Trading for WTI, BRENT will be closed at 20:30 MT

Please, keep these changes in mind when planning your trading sessions. Do not hesitate to contact the FBS Support team in case you have any questions.

Yesterday, the European Commission rejected the proposed Italian budget. Italian authorities including deputy's Prime Minister Matteo Salvini are planning future negotiations on this topic. Positive news can help the EUR to gain towards the resistance at 1.1487. If the uncertainties appear, EUR/USD will fall to the support at 1.1350.

The EU and the UK negotiators have agreed on draft Brexit, according to today's news. Now the future of this agreement depends on the decision of 27 EU members. This is a good news ahead of the EU Summit on November 25. The British PM Theresa May will try to finalize the Brexit agreement before Sunday's summit. Today, she is expected to make her speech to parliament at 16:30 MT (14:30 GMT) time.The GBP was supported heavily by the news, jumping above the resistance at the central pivot at 1.2874 and testing the 1.29 level. The next resistance for the cable lies at 1.3026. In case, of uncertainties, the British pound can fall towards the support at 1.2677.

During the Asian session, the NDZ/USD sellers pulled the New Zealand dollar, making it the biggest loser during the Thanksgiving holidays. The kiwi propped below the support at the central pivot at 0.6820. The next support lies at 0.6756. If the risk-on sentiment across the equity markets stabilizes, NZD/USD will rise towards the resistance at 0.6882 (200-day MA).

As for the AUD, the economists at ANZ pushed their expectations for a rate hike to August 2020. It drove the Australian dollar to test the support at 100-day MA at 0.7251. If the bearish pressure increases, AUD/USD can fall towards the next support at 0.7216. The risk-on sentiment can help the aussie to stick above 0.7277.

 

[SebsCubs]

Uncovering Gann indicators

http://bit.ly/2TB6whG

Have you ever heard about one of the most mysterious and successful traders of all times – William Gann? He is well-known for using geometry, astrology and ancient mathematic to predict the movement of quotes in the financial markets. He was brought up in an impoverished extended family.

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[SebsCubs]

LESSON 2. What is Forex trading?

So, what is Forex trading? Forex stands for foreign exchange and is used to describe trading in the currency market by investors and speculators…

If the euro strengthens, he will then sell euros for dollars and thus increase the initial sum he has in dollars.

Let’s get to learn!⤵
http://bit.ly/2SeWocP
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[SebsCubs]

News to trade on November 27

Check the graphs: http://bit.ly/2TMfVTI

27.11.2018

The Brexit deal is anticipating the votes by parliament on 11th of December. For now, the future Brexit direction depends on whether the parliament will approve the deal. If it is declined, Britain should either expect a second referendum or a hard Brexit. As far as uncertainties around the potential decline are floating, it affects the GBP negatively. More negative news will pull GBP/USD below the 1.2738 support. In case of positive news, it will rise towards the resistance at 1.2832.

The American CB consumer confidence will be released at 17:00 MT time Last month it reached a higher-than-expected level of 137.9 points. Analysts anticipate a slight decline to 136.2 points in November. If the actual digits are higher, the USD will be supported.

Yesterday, fresh comments by US president Donald Trump on raising tariffs in Chinese imports resulted in gains of the US dollar index. However, it could not break the psychological level of 97. If today’s release outperforms the forecast, the USD can stick above the resistance at 97. Otherwise, it will fall to the support at 96.55 which lies near the 100-day MA.

As for USD/JPY, the pair was a big gainer yesterday. It crossed the 50-day MA and the 113 level. If the USD extend its gains today, the pair will manage to stick above the resistance at 113.64. If the USD disappoints the investors, it can fall below the support at 113.29.

As for the NZD, at 22:00 MT we are awaiting the Reserve bank of New Zealand to publish its financial stability report. We will see if the central bank provides any hints for changing its dovish tone due to the increased inflationary and employment data.

Trump’s comments made the New Zealand dollar to fall below the 100-MA on a 4-hour chart. However, the pair managed to recover. If the RBNZ report is hawkish, we can expect the pair to rise towards the resistance at 0.6806. In case of the strong USD, the pair will drop to the support at 0.6738.

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[SebsCubs]

News to trade on November 28

Check the candlesticks: http://bit.ly/2TRVgh8

28.11.2018

US preliminary GDP is due to release today at 15:30 MT time. The economy of the US grew by 3.5% in the last quarter. The digits came as a result of positive releases of private inventory investment, personal consumption expenditures, local and state government spending, nonresidential fixed investment, and federal government spending. Analysts anticipate the preliminary GDP to reach 3.6%. If this data is higher than expected, it will contribute to the rise of the USD.

In addition, at 19:00 MT we anticipate the speech by the Fed Chair Jerome Powell. His speech may provide clues on the Fed's view of the US economy and the further rate hikes.

During the American session, Trump commented again on the rate hikes by the Fed, mentioning that he is "not even a little bit happy" with the Fed Chair Jerome Powell.

As a result, the US dollar index has slid a little today. Further direction of the index depends on the Fed chair comments and the GDP release. If they provide the positivity to the investors, the US Dollar index can rise towards the resistance at 97.48. In case of disappointment, it can fall below the support at 97.16

Britain is awaiting the bank stress test results at 18:30 MT. It is the spotlight of the day for the GBP traders, as it will give an insight into the UK economy ability to survive a hard Brexit. In addition, the financial stability report will be published and the BOE's Governor Mark Carney will deliver his speech afterward. In addition, the British central bank will be publishing its economic assessment of the Brexit outcome during the day. However, any fresh news on the Brexit approval ahead of the House of Commons decision scheduled on December 11 will bring volatility to the British pound. Positive data and confident Carney will push GBP/USD towards the resistance at 1.2832. In the negative case, the pair will fall below the support at 1.2738.

The news about the US-China talks remain the market movers ahead of the Friday's China president Xi Jinping meeting with US president Donald Trump. Earlier today, Chinese president commented on the widening market access for foreign investors. As a result, the risk-on sentiment across the markets increased. The Antipodeans were lifted by the news. For now, AUD/USD has tested 100-day MA. If the risk-on sentiment increases, the pair can rise towards the resistance at 0.7253. In case of negative news on the escalation of the trade war, the pair will fall towards the 0.7179 support.

As for NZD/USD, it has tested the 0.6806 resistance today. More positivity among the investors will push the pair above this level. The next resistance for the pair lies at 0.6844. Otherwise, it will fall towards the support at 0.6738.

 

[SebsCubs]

News to trade on November 29

Check the candlesticks: http://bit.ly/2E48tig

29.11.2018

Yesterday, the Fed Chairman Jerome Powell surprised the market with the dovish speech. According to his comments, he is not likely to continue with gradual rate hikes next year. “Interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy" – the key statement from his speech.

Today, we anticipate the release of minutes of the Federal Open Market Committee November’s meeting at 21:00 MT time. We will see whether it can provide some support to the USD.

How did the Fed Chair speech affect the key currency pairs?

EUR/USD tested the resistance at 1.1378. Dovish tone of the FOMC statement will help the pair to rise towards the resistance at 1.1429. Otherwise, if the statement contains some supportive data for the USD, it will fall towards the support at 1.1284.

In addition, the Italian budget issue still triggers the investors. According to the latest news, the Italian government is not planning to move their deficit target lower than 2.2%. This is a small update from the previous 2.4% level, which also pulls EUR/USD down.

The British pound followed the same scenario after the dovish Powell. However, the Brexit uncertainties and negative outlooks ahead of the Parliamentary vote on December 11 keep affecting the market. If the FOMC statement shows uncertainty, GBP/USD will stick above the resistance at 1.2832. More negative news on Brexit will pull the pair towards the support at 1.2738.

The USD suffered losses while trading against the Japanese yen. Positive comments from the American central bank will help the pair to rise towards the resistance at 114.132. In case of dovish tone, the pair will stick below the support at 113.286.

During the Asian session, the New Zealand dollar slid due to the unchanged Business confidence numbers at -37%. The weak USD can help NZD/USD to rise towards the resistance at 0.6912. Otherwise, it can stick below the support at 0.6844.

The AUD, on the other hand, was driven by bulls as the risk-on sentiment across the Asian equity markets increased. If the USD is weak, AUD/USD can continue moving towards the resistance at 0.7376. If the risk-off sentiment increases, the pair will fall below the support at 0.7303.

In other news, oil extends losses ahead of the OPEC+ meeting on December 6. The fears that OPEC+ will fail to deliver the expected output cuts are moving the market. WTI dropped to the last year levels, testing the ground below $50. More comments on output cuts will help it to rise towards the resistance at $52.77. More uncertainties will pull the price below the psychological support at $50.

As for Brent, it fell below the $60 level. The next support for the crude lies at $55.74. If the bulls take over, the resistance for it lies at $61.68

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