riki143

GBP/USD: POUND WILL TEST CLOUD AGAIN 05:00 16.06.2017 Technical levels: support – 1.2750, 1.2660; resistance – 1.2805, 1.2840. Trade recommendations: Buy — 1.2780; SL — 1.2760; TP1 — 1.2840; TP2 — 1.2900. Sell — 1.2750; SL — 1.2770; TP1 — 1.2660; TP2 — 1.2610. Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a correctional golden cross of Tenkan-sen and Kijun-sen; the prices returned to Cloud again and the Bulls can try to breakout its resistance. More: https://fbs.com/analytics/articles/gbp_usd%3a_pound_will_test_cloud_again_1638

EUR/USD: DEVELOPING WAVE (I) 14:31 15.06.2017 The price hasn't fixed above 4/8 MM Level, so wave [c] of 2 may have been ended. Therefore, there's developing wave (i). If we have a pullback from 3/8 MM Level, bulls are likely going to deliver wave (ii). 6/8 MM Level has acted as resistance, so there's a bearish rally, which could be developing wave (i). If this wave forms like an impulse, we're likely going to have the market even lower right after an upward correction. More: https://fbs.com/analytics/articles/eur_usd%3a_developing_wave_%28i%29_1623

HIGHLIGHTS OF THE BANK OF ENGLAND'S MEETING 12:09 15.06.2017 The Bank of England published its latest views on interest rates and monetary policy setting earlier today. Bank rate was held at 0.25%, government bond purchases at £435bn and corporate bond purchases at £10bn. No changes from its previous meeting as you might have noticed. All eyes were on the minutes and the voting. The market participants didn’t expect the split among Monetary Policy Committee members to widen and change from its last 7-1. Three officials from 8 called for a rate increase, warning that inflation could rise more than previously thought and eventually flatten the wallets of the British consumers. The unexpected shift in the MPC’s voting comes against an uncertain backdrop for the U.K., with real wages falling, consumer spending declining, Brexit negotiations knocking at the door and Prime Minister Theresa May unexpectedly losing her parliamentary majority after Thursday’s general election. The greatest division among the BOE’s policymakers on the interest rate can be explained by the UK economic fundamentals. In recent weeks, the BOE’s policy had a chance to see further evidence of sharply rising prices, subdued wage growth and a weakening demand from consumers. CPI inflation has been pushed above the bank’s 2 percent target and reached 2.9% in May. The BOE policymakers said it may surge higher above 3%. GDP growth declined markedly in the Q1 mainly due to weaker household spending. So, the rate hike will be needed, anyways, but it will be gradual and limited. The unexpected split helped GBP to regain its strength. It rose above 1.2770 following the rate announcement. The BoE’s interest rate announcement is not the single event that may influence the GBP today. Governor Mark Carney will speak at 11 pm MT time at the annual high-profile Mansion House event in London’s financial district. More: https://fbs.com/analytics/articles/highlights_of_the_bank_of_england%27s_meeting_1621

USD/JPY: CONSOLIDATION ALONG THE 34 MA 11:44 15.06.2017 We've got a bullish "Engulfing", so the market is likely going to test the nearest resistance. If a pullback from this level happens, there'll be an opportunity to have another decline. The price is consolidating along the 34 Moving Average. Considering that there isn't any bearish pattern so far, the pair is likely going to continue moving up towards the 144 Moving Average. More: https://fbs.com/analytics/articles/usd_jpy%3a_consolidation_along_the_34_ma_1620

EUR/USD: CONFIRMED "SHOOTING STAR" 11:42 15.06.2017 We've got a "Shooting Star", which has been confirmed. Also, there isn't any reversal pattern so far, which means all the last candles are bearish. Therefore, the 89 Moving Average is likely going to be tested once again There's a bullish "Harami", which hasn't been confirmed yet. Therefore, we could have a local correction, but bears are likely going to break the last low afterwards. More: https://fbs.com/analytics/articles/eur_usd%3a_confirmed_%22shooting_star%22_1619

POST-FOMC NEWS BRIEF FOR JUNE 15 08:15 15.06.2017 The Fed’s policymakers agreed to raise their benchmark lending rate, projected additional hike in 2017 and revealed their plans on how they intend to shrink their $4.5. trillion balance sheet this year. The Fed’s decision was overshadowed by extremely soft consumer prices. Headline US CPI for May eased 0.1% (against flat expected) with core inflation also falling short of market expectations and bringing annual core CPI down to 1.7% from 1.9%. Another disappointment came after the US Retail sales release which was also lower than expected in May. Retail sales fell 0.3% against investors’ expectation for a 0.1% gain. Political turmoil in Washington also weighed on the USD. The special council responsible for the investigation of Russia’s meddling in the 2016 presidential election is going to interview two US intelligence officials about whether the US President Donald Trump sought their help to get the FBI to drop their probe into Michael Flynn’s collusion with Russian entities. USD/JPY popped up to 109.60 in Tokyo morning after falling sharply towards 108.80 overnight on the USD weakness. We don’t expect great swings from here in the short-term looking at the economic calendar. The Bank of Japan will in the spotlight on Friday, as it is poised to release their rate statement which will be followed by a press conference with BoJ Governor Haruhiko Kuroda. The central bank is expected to maintain its ultra-loose monetary policy settings in order to prop up inflation and domestic demand. Japan’s economy has recently received a boost from solid global demand, but inflation rates remain well below the bank’s coveted target. The BoJ’s policymakers will unlikely tighten their policy at tomorrow’s meeting. So, traders will be focused on Kuroda’s follow-up comments, looking for some hawkish notes in his tone (pay special attention to Kuroda’s words on the reduction of bond purchases). GBP/USD fell to 1.2730 in the opening hours of the Asian session. Further weakness is seen on the horizon but solid support at 1.2560, 1.2515 will likely prevent the sharp downfall. The Bank of England is set to deliver its interest rate later today at 2:00 pm MT time. Given the political landmines dotting the UK landscape (a hung parliament as a result of the snap election, preparation for Brexit negotiations with the EU), the BOE’s policymakers will likely look through the higher inflation print. The headline inflation was at 2.9% in May and core inflation slightly lower at 2.6% (well above the bank’s target – 2%). At the previous meeting, the BOE’s officials have already indicated that they are ready to tolerate higher inflation rates despite declining consumption. In a case of release of the dovish statement indicating the BOE’s unwillingness to tighten their monetary policy, the GBP will be hurt. The euro unexpectedly spiked to 1.1295 yesterday on the soft releases from the US that triggered USD weakness. In Tokyo morning, the USD recouped its earlier losses and fell to 1.1185. The undertone is still on the weak side; the quotes might slide lower to 1.1160 unless the single currency manages to reclaim the 1.1200 level. Aussie was an absolute gainer today as Australian Labor force information hit market’s expectations (a big drop in jobless rate, an increase in hours worked). The bullish phase is still clearly intact despite the scale of recent Aussie’s gains. AUD/USD is now at 0.76005. There is a room for an extension to 0.7635 (yesterday’s high). But be ready to exit your long position, at around 0.7650, as further upside will be complicated. More: https://fbs.com/analytics/articles/post_fomc_news_brief_for_june_15_1615

GBP/USD: BEARISH "FLAG" 08:00 15.06.2017 The 34 Moving Average has acted as resistance, so there's a "V-Top" pattern, which has confirmation. In this case, the pair is likely going to test the next support at 1.2705 - 1.2678. However, if a pullback from this area happens, there'll be a green light for another bullish price movement. We've got a "Triple Top" pattern, which has been confirmed, so the price is consolidating. Meanwhile, there's a bearish "Flag", so the market is likely going to test the closest support at 1.2705 - 1.2672. If we have a pullback from these levels, bulls will probably try to test the 55 Moving Average. More: https://fbs.com/analytics/articles/gbp_usd%3a_bearish_%22flag%22_1614

EUR/USD: DEVELOPING "RISING WEDGE" 07:56 15.06.2017 The price is consolidating above the lower side of the developing "Rising Wedge". So, bears are likely going to reach the nearest support at 1.1204 - 1.1165 in the short term. If we see a pullback from this area, there'll be an opportunity to have another upward price movement towards resistance at 1.1232 - 1.1249. We've got a "Double Top", which has been confirmed, so the price is consolidating. Also, there's a "Flag" pattern, so the market is likely going to achieve the closest support at 1.1178 - 1.1165. If a pullback from this area happens, bulls will have an option to reach the Moving Averages. More: https://fbs.com/analytics/articles/eur_usd%3a_developing_%22rising_wedge%22_1613]

USD/JPY: YEN WANTS TO BE SET FREE 06:50 15.06.2017 Recommendations: BUY 110,25 SL 109,7 TP1 111,5 TP2 113,2. On the USD/JPY daily chart, a bar with a long shadow was formed. The Bears will try to break the diagonal resistance in the form of the upper boundary of the downward trading channel and then activate the inverted "Shark" pattern. Its target 88.6% is located near 111.5. On the USD/JPY hourly chart, for the activation of the Three Indians pattern, the Bulls need to test the convergence area 110,15-110,25. If they succeed, they will be able to push the quotes towards 111.6 and 113.2. More: https://fbs.com/analytics/articles/usd_jpy%3a__yen_wants_to_be_set_free_1607

GOLD NEEDS THE CORRECTION 06:41 15.06.2017 Recommendations: SELL $1260 SL $1280 TP1 $1230 TP2 $1220. On the daily chart of gold, the formation of a double top and the inability of the "Bulls" to test the resistance at $1,280 tell us about weakness. A successful test of the convergence area $1245-1255 will allow the Bears to develop a correction. On the hourly chart of gold, there are Fakeout-shakeout and Head and shoulders patterns. A false breakout of the upper border of the consolidation channel $1248-1274 with the subsequent return of quotes to its middle area shows that Bears are ready to attack. A breakout of the neckline will give us a signal for this attack. More: https://fbs.com/analytics/articles/gold_needs_the_correction_1606

USD/JPY: BEARS MADE A NEW LOWS 05:18 15.06.2017 Technical levels: support – 108.70; resistance – 109.70/90. Trade recommendations: Sell — 109.60; SL — 109.80; TP1 — 108.70; TP2 — 108.30. Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices keep staying under the Cloud. More: https://fbs.com/analytics/articles/usd_jpy%3a_bears_made_a_new_lows_1604

EUR/USD: EURO SUPPORTED BY CLOUD 05:17 15.06.2017 Technical levels: support – 1.1210; resistance – 1.1300. Trade recommendations: Buy — 1.1230; SL — 1.1210; TP1 — 1.1300; TP2 – 1.1340. Reason: expanding bullish Ichimoku Cloud, rising Senkou Span a; a golden cross of Tenkan-sen and Kijun-sen; the prices tested a main resistance on 1.1300 and back again to the support of the Cloud. More: https://fbs.com/analytics/articles/eur_usd%3a_euro_supported_by_cloud_1603

USD/JPY: "WINDOW" ACTING AS SUPPORT 10:47 14.06.2017 The "Window" is acting as support, so we've got a bullish "Harami", which has been confirmed. Therefore, the market is likely going to test the closest resistance once again. If a pullback from this level happens, there'll be an opportunity to have another decline. The price is consolidating along the 89 Moving Average, so there's a bearish "Doji", but this pattern hasn't been confirmed yet. In this case, we could have a local decline and a new high afterwards. More: https://fbs.com/analytics/articles/usd_jpy%3a_%22window%22_acting_as_support_1594

EUR/USD: "HIGH WAVE" AT THE LOCAL LOW 10:43 14.06.2017 The price has been consolidating since the last "Inverted Hammer" formed. However, we've got a "High Wave" at the local low. Considering confirmation of this pattern, the market is likely going to test the nearest resistance, which could be a departure point for another decline. The last "Window" has been closed, so there's a confirmed "High Wave". In this case, the price is likely going to test the nearest support level, which could be a departure point for a local upward price movement. More: https://fbs.com/analytics/articles/eur_usd%3a_%22high_wave%22_at_the_local_low_1593

GBP/USD: "DOUBLE BOTTOM" CONFIRMED BY "FLAG" 09:21 14.06.2017 We've got a "Double Bottom", which has been confirmed. Bulls faced resistance at 1.2793, but the market is likely going to rise even higher, so we should keep an eye on the next resistance at 1.2830 - 1.2845 as an intraday target. At the same time, if we see a pullback from this area, there'll be an opportunity to have a decline towards the closest support at 1.2793 - 1.2768. The last "Double Bottom" has been confirmed by the "Flag" pattern. So, the market is likely going to reach the next resistance at 1.2829 - 1.2845 in the coming hours. If we have a pullback from this area, bears will have a green light to test a support at 1.2793 - 1.2768. More: https://fbs.com/analytics/articles/gbp_usd%3a_%22double_bottom%22_confirmed_by_%22flag%22__1591

EUR/USD: CONSOLIDATION RIGHT ABOVE THE "WEDGE" 09:16 14.06.2017 The price is still consolidating right above the "Wedge" pattern's lower side. So, the market is likely going to test the nearest resistance at 1.1232 - 1.1249 in the short term. If we see a pullback from this area, there'll be an opportunity to have another decline in the direction of the next support at 1.1204 - 1.1165. There's a consolidation, which is taking place between the levels 1.1234 - 1.1161. Also, the price has broken the Moving Averages, so bulls are likely going to test the closest resistance at 1.1234 - 1.1249 during the day. However, if a pullback from this area happens, bears will have a chance to reach a support area at 1.1191 - 1.1178. More: https://fbs.com/analytics/articles/eur_usd%3a_consolidation_right_above_the_%22wedge%22_1590

GBP/USD: DECISION TIME FOR THE POUND 07:11 14.06.2017 On the daily chart, GBP/USD broke down through the lower border of the rising trend channel. The return above resistance at 1.2770 will strengthen the possibility of the pound increase to 1.2900. On the other hand, decline below 1.2640 will lead the pair down to 1.2500 and 1.2400. On H1, in the case of the successful test of 1.2770 bulls can count on the realization if the inverted “Bat” pattern. Its 78.6% and 88.6% targets correspond to 1.2905 and 1.2940. On the contrary, recoil from the convergence area of 1.2755-1.2770 to the downside will return control of the pair to bears. More: https://fbs.com/analytics/articles/gbp_usd%3a_decision_time_for_the_pound_1588

EUR/CAD APPROACHED SUPPORT LEVEL 1.4830 17:41 13.06.2017 EUR/CAD approached support level 1.4830 Next sell target - 1.4600 EUR/CAD continues to fall sharply after the recent breakout of the round support level 1.5000 (which reversed earlier wave 4 and which was set as the sell target in our previous forecast for this currency pair). The breakout of the support level 1.5000 strengthened the bearish pressure on this currency pair. The price is currently trading close to the support level 1.4830 (low of wave 2 from May). If the pair breaks below the support level 1.4830 –GBP/USD can then be expected to fall to the next sell target at the next support level 1.4600 (previous monthly high from March). More: https://fbs.com/analytics/articles/eur_cad_approached_support_level_1.4830_1582

USD/CAD BROKE PIVOTAL SUPPORT LEVEL 1.3260 17:40 13.06.2017 USD/CAD broke pivotal support level 1.3260 Next sell target - 1.3150 USD/CAD has been falling sharply in the last few trading sessions inside the C-wave of the minor ABC correction 2 from the start of May. The price earlier broke the support trendline of the daily up channel from February – which accelerated the active C-wave. The price today broke below the pivotal support level 1.3260 (which has been reversing the price from March). USD/CAD is expected to fall to the next sell target at the next support level 1.3150. More: https://fbs.com/analytics/articles/usd_cad_broke_pivotal_support_level_1.3260_1581

USD/JPY: BULLISH "HARAMI" 11:25 13.06.2017 There's a bullish "Harami", which has been confirmed enough. In this case, the market is likely going to test the closest resistance, which could be a departure point for a decline in the direction of the lower "Window". We've got a "Harami" on the 89 Moving Average, but this pattern hasn't been confirmed yet. So, the pair is likely going to test the last "Three Methods" pattern's level. More: https://fbs.com/analytics/articles/usd_jpy%3a_bullish_%22harami%22_1575

EUR/USD: YESTERDAY'S "WINDOW" GOING TO ACT AS SUPPORT 11:23 13.06.2017 There's a developing consolidation, but we've got a confirmed "Inverted Hammer" on the 55 Moving Average. So, the market is likely going to test the nearest resistance in the short term. If we see a pullback from this level, the 55 MA could be tested once again. We've got a bearish "Harami" at the local high, but yesterday's "Window" is likely going to act as support. If so, we could have a new high soon. However, if a pullback from the nearest resistance happens afterwards, there'll be an opportunity to have just another decline. More: https://fbs.com/analytics/articles/eur_usd%3a_yesterday%27s_%22window%22_going_to_act_as_support_1574

EUR/USD: WAVE IV OF (I) GOING TO END SOON 10:12 13.06.2017 There's a diagonal triangle in wave (v) of [c], so wave 2 may have been ended. In this case, we're likely going to have wave (i) in the coming hours. In this case, we should keep an eye on 3/8 MM Level as the nearest bearish target. Wave iv of (i) is going to end soon. If we have a pullback from 8/8 MM Level, there'll be a green light for wave v of (i). Therefore, the low of wave iii is likely going to be broken. More: https://fbs.com/analytics/articles/eur_usd%3a_wave_iv_of_%28i%29_going_to_end_soon_1572

USD/CHF: FRANC WAS CAUGHT BY THE DRAGON 07:42 13.06.2017 Recommendation: BUY 0.9725 SL 0.9670 TP1 0.9915, TP2 1.0000. On the daily chart, bulls managed to return the pair inside the previous descending channel. As a result, the risks of correction to the current bearish trend increased. Buyers firstly have to conquer resistance at 0.9716 and then trigger the “Shark” pattern. Upside targets are at 0.9917 and 1.0050. On H1 USD/CHF is finishing the “Dragon” pattern. In the case of the resistance’s break at the level of the “Dragon’s head", bulls will have good chances for the continuation of the rally. More: https://fbs.com/analytics/articles/usd_chf%3a_franc_was_caught_by_the_dragon_1568

EUR/USD: SHARK FRIGHTENED THE EURO 07:18 13.06.2017 Recommendation: SELL 1.1170, SL 1.1225, TP1 1.1095, TP2 1.1000. On the daily EUR/USD chart, the risks of correction of the medium-term uptrend increase. Successful test of support at 1.1700 with the following decline to 1.1100-1.1130 will provoke further decline to 1.1000, 1.0930 and 1.0890. The latter level corresponds to 88.6% target of the shark pattern. On H1 EUR/USD is trading within the descending channel. Bears are trying to get the pair under control. In the case of the break of support at 1.1170 and triggering of AB=CD pattern, they will succeed. More: https://fbs.com/analytics/articles/eur_usd%3a_shark_frightened_the_euro_1567

GBP/USD: "THORN" ACTED AS SUPPORT 06:57 13.06.2017 The last "Thorn" pattern has acted as support, so the price is consolidating. Nevertheless, the local low is likely going to be broken, so we should keep an eye on the nearest support at 1.2634 - 1.2581 as an intraday target. If a pullback from this area happens, there'll be a green light for an upward correction towards resistance at 1.2678 - 1.2705. The price is consolidating between the levels 1.2678 - 1.2634. Also, there's a "Pennant" pattern, so the market is likely going to decline in the direction of the closest support at 1.2634 - 1.2581. At the same time, bulls will probably try to reach resistance at 1.2678 - 1.2705 afterwards. More: https://fbs.com/analytics/articles/gbp_usd%3a_%22thorn%22_acted_as_support_1565