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GBP/USD Daily Analytics

10:56 19.03.2018

 

1521456925-2fd7714f7da0a0093cbb94d3e0ed4

 

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.

 

1521456925-a5b3f621662c259d363f1dde6b7a8

 

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.

 

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EUR/USD Daily Analytics

10:58 19.03.2018

 

1521456925-5da3f64d6c8c49ce65360dbc04ab8

 

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.

 

1521456925-5e0d45197e7a29bd058f0accad6b0

 

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.

 

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USD/JPY: FOREX OUTLOOK

08:48 19.03.2018

 

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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.

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GBP/USD: BULLISH "FLAG" PATTERN

10:56 19.03.2018

 

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sIe3d1J.png

 

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.

 

xZQFXNy.png

 

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.

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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


 

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

 

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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.

 

1521528783-1430b06b52ccdf0a9e951da313446

 

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.  

 

1521528803-5c726ce87bf89e31cdcfbd4c37b26  

 

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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.

 

1521529950-645800f66cec2264dcf59cce4c9ff

 

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.

 

1521529981-ee5460ddb0ab759758a13cd2952ea

 

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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.

 

1521530381-42a68b4bfa2f0515dfbaa054e9dba

 

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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.

 

1521530382-3dcc4d3b0e9d38341d309e86e7227

 

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EUR/USD Daily Analytics

12:13 20.03.2018

 

1521547913-415aa346b737a8bb8c58327009103

 

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.

 

1521547913-e98e0440899e954d1fd451448e380

 

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.

 

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USD/JPY Daily Analytics

12:15 20.03.2018

 

1521547912-12481b6638d4b5882e427323d2e13

 

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.

 

1521547912-0cb1bd00412896e66ef5500ae7d88

 

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".

 

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USD/JPY: MAIN TARGET IS 89 MA

12:15 20.03.2018

 

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pOJaIxX.png

 

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.

 

8gQDMvY.png

 

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".

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EUR/USD: BEARISH "HIGH WAVE" PATTERN

12:13 20.03.2018

 

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OIHIVle.png

 

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.

 

4CQiFAa.png

 

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.

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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).

In this article you will learn two proven successful strategies:

Rapid-fire strategy and

Piranha strategy


 

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USD/CHF Daily Analytics

06:49 21.03.2018

Recommendation:

 

BUY 0.9520

 

SL 0.9465

 

TP1 0.9620 TP2 0.9720 TP3 0.9770

 

On the daily chart of USD/CHF, bulls managed to settle above an important level of 0.9510. This indicates their strength and allows to expect an advance to 88.6% target of the “Shark” pattern. To begin with, however, the pair needs to get out of the descending channel.

 

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On H1, there’s a sustainable uptrend. Pullbacks to support at 0.9520 and 0.9480 should be used for buying with targets at 161.8% and 200% of AB=CD.

 

1521614885-351a015a31e5fdb2fee97b43bc66a

 

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GBP/USD Daily Analytics

07:31 21.03.2018

Recommendations:

 

BUY 1.4065

 

SL 1.401

 

TP1 1.4165 TP2 1.4225

 

On the daily chart of GBP/USD, there was a natural pullback after the pair reached the 88.6% target of the subsidiary “Shark” pattern. An inside bar was formed. A break of the resistance at 1.4065 will increase risks of the rally’s continuation to the 88.6% target of the parent “Shark” pattern.

 

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On H1, the formation of the reversal “Three Indians” pattern endangered the implementation of “Wolfe Waves” and “Shark” patterns. To continue the uptrend, bulls need to break the resistance at 1.4065.

 

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EUR/USD Daily Analytics

14:27 21.03.2018

 

1521642357-dabc400092c86db0f655f4b89af7c

 

There's a bullish "Harami", which has been confirmed, so the market is likely going to test the Moving Averages soon. If a pullback from these lines happens little later on, there'll be an opportunity to have another decline.

 

1521642356-02142d4086e73d7895f5a79eb64a6

 

We've got a bearish "High Wave", so the pair is likely going to test the lower "Window" once again. A pullback from this level will be a departure point for an upward price movement towards the Moving Averages.

 

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USD/JPY Daily Analytics

14:28 21.03.2018

 

1521642356-91e57ec22256640610f7944860736

 

There's a "Shooting Star" pattern, which has been formed on the 55 Moving Average, so we're likely going to have a local bearish correction. Nevertheless, bulls will probably try to test the 89 MA afterwards.

 

1521642356-c40d175f0d3c4104919c4d9c67d0c

 

The price is consolidating along the Moving Averages. It's likely that bears are going to test the nearest support once again. If we have another pullback from this level, there'll be a moment to have an upward price movement in the direction of the upper "Window".

 

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GBP/USD: THE POUND DREW AN INSIDE BAR

07:31 21.03.2018

 

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Recommendations:

 

BUY 1.4065

 

SL 1.401

 

TP1 1.4165 TP2 1.4225

 

On the daily chart of GBP/USD, there was a natural pullback after the pair reached the 88.6% target of the subsidiary “Shark” pattern. An inside bar was formed. A break of the resistance at 1.4065 will increase risks of the rally’s continuation to the 88.6% target of the parent “Shark” pattern.

 

LsNlTs6.png

 

On H1, the formation of the reversal “Three Indians” pattern endangered the implementation of “Wolfe Waves” and “Shark” patterns. To continue the uptrend, bulls need to break the resistance at 1.4065.

 

9IUWnSn.png

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USD/CHF: FRANC IS LOSING GROUND

06:49 21.03.2018

 

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Recommendation:

 

BUY 0.9520

 

SL 0.9465

 

TP1 0.9620 TP2 0.9720 TP3 0.9770

 

On the daily chart of USD/CHF, bulls managed to settle above an important level of 0.9510. This indicates their strength and allows to expect an advance to 88.6% target of the “Shark” pattern. To begin with, however, the pair needs to get out of the descending channel.

 

e0KdSti.png

 

On H1, there’s a sustainable uptrend. Pullbacks to support at 0.9520 and 0.9480 should be used for buying with targets at 161.8% and 200% of AB=CD.

 

79qkjHW.png

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Important Economic Events

 

The Federal Reserve is expected to raise interest rates at least three times this year. The firm economic growth and inflation in the United States give the central bank reasons to increase the interest rate this time. 

 

If the Fed raises the rate, it will support the dollar that has been suffering for a long time. On the other hand, the absence of a rate hike will be a big disappointment and lead to a selloff in the USD.

 

The Fed’s decision will be known Today at 20:00 MT time. 

 

Follow this event in the FBS economic Calendar https://goo.gl/ocsPGD

 

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