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GBP/USD Daily Analytics

06:02 23.02.2018

Technical levels: support – 1.3870; resistance – 1.3970.

 

Trade recommendations:

 

Sell — 1.3930; SL — 1.3950; TP1 — 1.3870; TP2 — 1.3810.

Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are corrected to Kijun’s resistance and may continue the downtrend.

 

1519365682-5838ef800660551113de2aff99712

 

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AUD/USD Daily Analytics

06:03 23.02.2018

Technical levels: support – 0.7770; resistance – 0.7840

 

Trade recommendations:

 

Sell — 0.7820; SL — 0.7840; TP1 — 0.7770; TP2 — 0.7730.

Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines; the market had corrected to Tenkan-sen and ready to continue the main trend.

 

1519365682-42a68b4bfa2f0515dfbaa054e9dba

 

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EUR/USD Daily Analytics

08:31 23.02.2018

Recommendations:

 

SELL 1.2205

 

SL 1.226

 

TP1 1.2095 TP2 1.1965

 

On the daily chart EUR/USD, bulls are trying to return the pair within the upward channel. If they succeed, the pair will be able to continue rising as well as 161.8% and 224% targets of AB=CD patterns will be implemented. Vice versa, when fail, bears will be able to count on the activation of the “Broadening wedge” and “Double top” patterns. In this scenario, the possibility of the continuing correction in the direction of 1.2095 and 1.1965 is high.

 

1519374259-d9e3a3f7ea0fc54152019414d59a3

 

On H1 of EUR/USD, bears are going to break supports at 1.2235 and 1.2205.

 

1519374285-56cfcec999c24a5277136083b3a22

 

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EUR/GBP Daily Analytics

08:41 23.02.2018

Recommendations:

 

SELL 0.8805

 

SL 0.886

 

TP1 0.874 TP2 0.8695 TP3 0.845

 

On the daily chart EUR/GBP, we see the continuation of the long-term consolidation in a range of 0.8695-0.9015 within the upward trend.  The break of its bottom line will increase risks of 200% target’s implementation of the AB=CD pattern.  To succeed, bulls have to hit the resistance at 0.8925.

 

1519374801-db59d37b543b42e05715d067ea0d9

 

On H1 of EUR/GBP, successful tests of the upward channel’s bottom line and support at 0.8805 may lead to the continuation of the sharp decline in the direction of 88.6% and 200% targets of “Shark” and AB=CD patterns.  

 

1519374828-b80d1406d22772620a3e5aaf0a2d4

 

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EUR/USD Daily Analytics

13:57 23.02.2018

 

1519394140-2359fb120ecaa788d806e9bdcbf46

 

The price is consolidating near the 55 Moving Average. The main intraday target is the nearest resistance at 1.2384. If a pullback from this level arrives little later on, there'll be a moment for another decline.

 

1519394140-3d13fab8a4c230ff7ee89c294f6e8

 

All the Moving Averages have been broken, but there's a bullish "Thorn" pattern. Therefore, the pair is likely going to test the 89 Moving Average, which could be a departure point for a downward price movement.

 

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GBP/USD Daily Analytics

13:59 23.02.2018

 

1519394140-2d4cbae07caa2174512c548370e2d

 

There's a "V-Bottom" pattern, so the market is likely going to reach the nearest resistance at 1.4011 - 1.4066. Meanwhile, if a pullback from this area happens, there'll be a moment for a decline towards the next support at 1.3915 - 1.3835.

 

1519394140-1fc0a215884f169c1a5473f7ad7ae

 

The last "Pennant" pattern pushed the price higher. So, it's likely that the pair is going to achieve the closest resistance at 1.4011 - 1.4048 in the coming hours.

 

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EUR/USD: LOWER "WINDOW" ACTED AS SUPPORT

14:02 23.02.2018

 

1519394448-396262023db8dd3a348dc7cc9bcb1

 

There's a bullish "Hammer", which has been confirmed enough. In this case, the market is likely going to test the 34 Moving Average, which could be a departure point for a decline.

 

1519394448-53385735207b74ce41522ee0679a1

 

The lower "Window" has acted as support, so there's a "Hammer". However, confirmation of this pattern has been canceled by the last bearish "Harami". So, the market is likely going to test the "Window" once again.

 

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USD/JPY

14:05 23.02.2018

 

1519394449-61ee5da84c4625f546c598cb1ea96

 

We've got a bullish "Hammer", which hasn't been confirmed yet. So, the price is likely going to test the closest support once again. Nevertheless, bulls will probably try to reach the 55 Moving Average afterwards.

 

1519394448-0ff6f0c6d969aa634ad8bd6a61e92

 

All the Moving Averages are acting as resistance. Also, there's a confirmed bullish "Harami", so we could have a local decline. At the same time, there's an opportunity to have a new local high afterwards.

 

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HAS OIL STABILIZED?

15:41 23.02.2018

This week was quite unstable for the oil. A rise was followed by a fall and vice versa during the whole week. So let's look at the events that created such oil volatility. 

 

After the continuation of the last week rise, the oil was falling on Tuesday and Wednesday. The reasons were hidden in the recovering US dollar and anticipated growth of the US production. This week the greenback could find support. Fed’s meeting minutes that strengthened the confidence of soon rate hikes supported the dollar even more. So the oil prices were traded near such lows as WTI - $61 a barrel, Brent - $65 a barrel.

 

1519401325-7baa99b0e0cf6e02edc067cfc1b55

 

However, the anticipated rise of the US crude oil inventories was not proved. The data was unexpectedly low that led to the surge of the oil. So the prices appeared close to the highest in two weeks.

 

The US crude stockpiles fell to 1.62 million barrels last week. It was the biggest fall in five weeks. The average forecast was at 2.2 million.

 

But the data was mixed. The US exports reached 2 million barrels a day, the highest figure since October 2017. Net imports fell below 5 million barrels a day. It put pressure on the oil. During Friday the oil prices were volatile, but they could stabilize and go further.

 

Stabilization of the oil is based on the significant support from the OPEC and Russia with their output cuts. According to tanker-tracker Oil Movements’ forecast, the exports are anticipated to decline by 300,000 barrels a day to March 10. Moreover, experts are talking about the prolongation of the cuts. According to the International Energy Agency the supply from North America, Brazil and Mexico can cover global demand growth for the next two years. So it will force OPEC and Russia to expand the cuts for longer than it is planned now (until the end of 2018).

 

1519401341-5918e36c9c385a5e3559b27829eaa

 

Making a conclusion, we can say that at the moment the prices have stabilized: WTI is traded near $63, Brent is near $66.40. OPEC and Russia still support the oil prices with its output cuts policy. However, the strength of the greenback is affecting the oil a lot. It is quite difficult to forecast prices because firstly, the greenback is not stable yet. This week stabilization of the dollar may be ruined next week. Secondly, the production of non-OPEC countries is growing, thus it can lead to the oversupply again. However, Saudi oil minister gave a positive forecast. He said that the oil market is rebalancing, and we can expect the continuation of inventories’ decline this year. So let’s see.  

 

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USD/JPY: MOVING AVERAGES ACTING AS RESISTANCE

14:05 23.02.2018

 

GKSIs3M.png

 

We've got a bullish "Hammer", which hasn't been confirmed yet. So, the price is likely going to test the closest support once again. Nevertheless, bulls will probably try to reach the 55 Moving Average afterwards.

 

rlKWSV0.png

 

All the Moving Averages are acting as resistance. Also, there's a confirmed bullish "Harami", so we could have a local decline. At the same time, there's an opportunity to have a new local high afterwards.

 

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FOREX Basics:  Fibonacci tools

 

Forex traders continuously use these useful indicators. You’d better know them very well since many analysts use these tools to identify support and resistance levels or to predict the potential scope of price movement. 

 

Read in our guidebook the different Fibonacci tools and learn how to use them in your trading https://goo.gl/HeiJmb

 

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EUR/USD Daily Analytics

05:05 26.02.2018

Technical levels: support – 1.2300; resistance – 1.2380.

 

Trade recommendations:

 

Buy — 1.2300/10; SL — 1.2280; TP1 — 1.2380; TP2 — 1.2450

Sell — 1.2270; SL — 1.2300; TP1 — 1.2220; TP2 — 1.2180

Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, Tenkan-sen is horizontal; the market is on the strong support of 1.2300.

 

1519621500-5974574d0f06c411e972e24d898d2

 

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GBP/USD Daily analytics

05:07 26.02.2018

Technical levels: support – 1.3960; resistance – 1.4010, 1.4050.

 

Trade recommendations:

 

Buy — 1.4000; SL — 1.3980; TP1 — 1.4050; TP2 — 1.4100.

Sell — 1.3930; SL — 1.3950; TP1 — 1.3870; TP2 — 1.3810.

Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the narrowing channel of the lines; the prices are returned to the Cloud.

 

1519621500-5838ef800660551113de2aff99712

 

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NZD/USD Daily Analytics

08:11 26.02.2018

Recommendations:

 

SELL 0.728 SL 0.7335 TP1 0.7205 TP2 0.717

 

BUY 0.743 SL 0.7375 TP1 0.753 TP2 0.763

 

On the daily chart NZD/USD, bulls should break the resistance at 0.743 to continue the rally. On the contrary, if quotations are out the uptrend channel, it will strengthen risks of a pullback.

 

1519631914-4ac5346a7133e8c9a707cfbae2757

 

On H1, the pair reached targets of the “Broadening wedge” pattern. The break of the resistance at 0.7365 will activate the “Shark” pattern. This level is in the “dead zone”. A rebound from the bottom line of the uptrend channel will support a sale of Kiwi.  

 

1519632674-2f7df52b6def1f5547197b5934bfa

 

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AUD/USD Daily Analytics

08:15 26.02.2018

Recommendations:

 

BUY 0.79

 

SL 0.7845

 

TP1 0.799 TP2 0.8055

 

On the daily chart AUD/USD,  the exit of quotations from the downtrend channel and the break of resistance at 0.7892-0.7902 will increase risks of the activation of Gartley pattern and the continuation of the pair’s rise in the direction of its 78.6% target. Vice versa, a rebound will let bears continue correction.  

 

1519632746-899af96188ac0ab58d983ae1804c0

 

On H1 of AUD/USD, the pair reached targets of the "Widening wedge" and the "Shark" patterns. Currently, the “Crab” pattern is being activated. To continue the rally bulls should break the resistance at 0.79, 0.7945 and 0.799.

 

1519632770-37deade3708819a62a5c5f8675177

 

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EUR/USD Daily Analytics

12:08 26.02.2018

 

1519646791-886a8ddf9e41fc7867a12baf8a487

 

There's a bullish "Hammer", so the price is rising. Meanwhile, if a pullback from the nearest resistance area happens, there'll be a moment for another decline.

 

1519646791-4940b03d5dc3c669b23fc3eb9e565

 

The 144 Moving Average is acting as resistance, but there's still no any reversal pattern. In this case, the market is likely going to test the closest support by the last "Three Methods" pattern, which could be a departure point for another upward price movement.

 

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USD/JPY Daily Analytics

12:11 26.02.2018

 

1519646791-ff13b0edc5f4fc3644e90542c01f1

 

The 21 & 34 Moving Averages have acted as resistance, but there's still no any reversal pattern. So, the pair is likely going to test the 21 MA once again. If a pullback from this line happens little later on, there'll be an opportunity to have another bearish price movement.

 

1519646791-74e204301d65ccebaa3dd5b1c88ce

 

There's a bullish "Hammer", which has been confirmed enough, so the market is likely going to test the 21 Moving Average. If this line acts as resistance, bears will probably try to break the last low.

 

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USD/JPY: 21 & 34 MA ACTED AS RESISTANCE

12:11 26.02.2018

 

drn0Pgi.png

 

The 21 & 34 Moving Averages have acted as resistance, but there's still no any reversal pattern. So, the pair is likely going to test the 21 MA once again. If a pullback from this line happens little later on, there'll be an opportunity to have another bearish price movement.

 

2Csalhh.png

 

There's a bullish "Hammer", which has been confirmed enough, so the market is likely going to test the 21 Moving Average. If this line acts as resistance, bears will probably try to break the last low.

 

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FBS Video Lessons

 

In this video Tutorial LESSON 11. BROKERS AND PRACTICE ACCOUNTS

You will learn aout your broker, a company which provides the software and the infrastructure you need to make trades in the Forex market. As a reward for the services trader pays broker spread or commission. When choosing a broker pay attention to the company’s goodwill, age, and regulation.

Learn more


 

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

 

dMlfYK9.jpg

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FBS Video Lessons

 

In this video Tutorial LESSON 11. BROKERS AND PRACTICE ACCOUNTS

You will learn aout your broker, a company which provides the software and the infrastructure you need to make trades in the Forex market. As a reward for the services trader pays broker spread or commission. When choosing a broker pay attention to the company’s goodwill, age, and regulation.

Learn more


 

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

 

dMlfYK9.jpg

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EUR/USD Daily Analytics

01:16 27.02.2018

 

1519694097-152e2d95e68bb83cfec57cd815315

 

The price is consolidating near the Moving Averages. Also, there's a possible "Triangle", so the pair is likely going to test the upper side of this pattern. If a pullback from this line happens little later on, there'll be an opportunity to have another decline.

 

1519694097-0a989af1e8e4be6f8844945befc81

 

There's a local "V-Bottom" pattern, so the pair is likely going to test the nearest resistance at 1.2355. If we have a pullback from this level, bears will probably try to achieve the closest support at 1.2254 - 1.2233.

 

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GBP/USD Daily Analytics

01:19 27.02.2018

 

1519694097-236d4063578c9ebfab6860724f327

 

There's a "V-Top" pattern, so the market is declining. Meanwhile, it's likely to have a local upward correction in the coming hours. If a pullback from the nearest resistance at 1.4011 - 1.4066 happens afterwards, there'll be a moment for a decline.

 

1519694097-f0db47f6924e76881286150f4cc01

 

Bears faced with support at 1.3930, so we've got a "V-Bottom". In this case, it's likely to have a bullish price movement in the direction of the nearest resistance at 1.4011 - 1.4048 in the coming hours.

 

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