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XAU/USD Daily Analytics
07:57 30.01.2018

Recommendations:

BUY $1324 SL $1309 TP1 $1354 TP2 $1374 TP3 $1394

SELL $1302 SL $1317 TP1 $1267 TP2 $1240

On the daily chart, XAU/USD has reached the targets of “Three Indians” pattern. As long as gold is trading above support at $1302-1306 an ounce, bulls remain in control. It would be wise to use a pullback from these levels to buy with targets at 127.2% of the AB=CD pattern. On the other hand, the metal’s decline below the key support will increase the risks of the reversal “Widening wedge”.

1517298975-d8029dd1a750de79fab315e2c8c95

On H1, XAU/USD formed a “Head and Shoulders” pattern.

1517298993-ec8be01d836e6a0db07525bf3cdc0

More:
https://fbs.com/analytics/articles/xau-usd-gold-made-a-pullback-6533?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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USD/CAD Daily Analytics
08:09 30.01.2018
Recommendation:

BUY 1.2390 SL 1.2335 TP 1.2490

SELL 1.2295 SL 1.235 TP1 1.2195 TP2 1.2095

On the daily chart, the exit of USD/CAD outside of the triangle increases the risks of the downtrend’s resumption. The pair triggered AB=CD pattern with target at 200%. Formation of the inside bars points at the uncertainty.

1517299718-1430b06b52ccdf0a9e951da313446

On H1, USD/CAD is consolidating in the 1.2295-1.2390 range. A break of its upper border may trigger the “Bat” pattern. On the other hand, decline below support at 1.2295 will make the pair vulnerable for a further slide.

1517299737-5c726ce87bf89e31cdcfbd4c37b26

More:
https://fbs.com/analytics/articles/usd-cad-loonie-painted-an-inside-bar-6534?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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ITALIAN ELECTION: IS THE EURO UNDER RISK?
09:25 30.01.2018

Italian election is supposed to create volatility of the euro in the next month. The election is appointed on March 4, but talks about its destroying effect on the euro have already started.

The opponent of the government under the guidance of Paolo Gentiloni is a new-formed center-right coalition that consists of Mr. Berlusconi's party Forza Italia, Mr. Salvini’s party Lega Nord, and national-conservative political party Fratelli d'Italia.

berluskoni02.jpg

Nowadays, there is discordance in a coalition on a key issue of participation of Italy in the European Union, that will create volatility of the euro. A leader of the Italian party Lega Nord, Matteo Salvini, is ready to leave the European Union and the Eurozone unless Brussels changes the current treatment Italy receives. He wants fewer constraints from the European Union. At the same time, other allies do not consider the exit from the EU.

The European issue is not the most important in the Italian election. The percent of Salvini’s party in the coalition even if the coalition wins, is not so big, it means that he will not be able to find support in a parliament and bring Italy to the exit. However, talks about the exit will affect the euro during the pre-election period.

pensioni-notizie-precoci-salvini.jpg

Another important issue is the strength of the government. Nowadays, the Italian economy is the third-biggest economy of the Eurozone after Germany and France. It means that any changes in its policy affect not only the country itself but the Eurozone as well. The important issue is that the ECB is planning to reduce its stimulus. It can cause a burst of market volatility, that will lead to more expansive borrowing for Italian government from capital markets. Such risks can spread to other countries included in the Eurozone. If the government is weak and does not support the European Union, it will create problems for the EU and the euro as well. The EU needs the strong government that will be able to enact new laws and support its policy.

To sum up, we can say that the possibility of the Italian exit from the European Union and the Eurozone is low. However, the Italian election will affect the euro and Forex market in general. Talks about the Italian exit and dissent in the coalition will create the euro volatility, so Forex traders should be more careful during the pre-election period.

More:
https://fbs.com/analytics/articles/italian-election-is-the-euro-under-risk-6535
 

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EUR/USD Daily Analytics
09:48 30.01.2018

1517305617-3dfef0ac4e4424ef80647364164f1

The main trend is still bullish, but there's a "Double Top" pattern, which has been confirmed. So, the pair is likely going to test the nearest support at 1.2300 - 1.2272 in the short term. If a pullback from this area happens little later on, there'll be a moment to have another bullish price movement.

https://fbs.com/img/articles/6536/1517305617-8d8bdfe559f3f58d4fe34386fc840799_1200x1200_q90v3.png

The 89 Moving Average has acted as support, so the price is consolidating. Therefore, the market is likely going to achieve the closest resistance at 1.2398. This level could be a departure point for a decline towards the next support at 1.2300 - 1.2272.

More:
https://fbs.com/analytics/articles/eur-usd-double-top-pattern-6536

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EUR/USD Daily Analytics
11:47 30.01.2018

1517312683-1319ece71ce8282ec9b7d3d2f1991

There are bullish patterns such a "Tweezers" and a "Hammer", which both have been formed at the last local low. Therefore, the market is likely going to test the nearest resistance area in the short term.

1517312684-61c177298ff2a2149a25141326097

The 89 Moving Average has acted as support, so there's an "Inverted Hammer", which has been confirmed enough. In this case, the pair is likely going to continue moving up in the coming hours.

More:
https://fbs.com/analytics/articles/eur-usd-89-ma-acted-as-support-6538

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GBP/USD Daily Analytics
09:51 30.01.2018

1517305617-4783c04546c57d6e2f6cc09e7bb42

We've got a "Double Top" pattern, which has been confirmed. The main intraday target is the 55 Moving Average. If a pullback from this line happens afterwards, there'll be a moment to have another upward price movement.

1517305617-1f7a193fc867592eada0807a12d3b

All the Moving Averages have been broken, but there's a "V-Bottom" pattern, so the pair is likely going to reach the nearest resistance at 1.4082. If we have a pullback from this level, bears will probably try to achieve the next support at 1.3915 - 1.3884.

More:
https://fbs.com/analytics/articles/gbp-usd-main-intraday-target-is-55-ma-6537

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USD/JPY: BEARISH "HARAMI"
12:13 30.01.2018

1517312683-2eef2f6fe9d6a98f6ee74bff18833

There's a bearish "Harami", which has been formed at the last local high. Considering confirmation of this pattern, the market is likely going to test the next lower "Window" soon.

1517312683-3e231f3e92953fece003d69cc44d8

We've got a "Harami" and an "Engulfing" patterns, which both have been formed on the 34 Moving Average. Therefore, the price is likely going to continue declining, which means we could have a new local low in the short term.

More:
https://fbs.com/analytics/articles/usd-jpy-bearish-harami-6539

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GBP/USD: MAIN INTRADAY TARGET IS 55 MA
09:51 30.01.2018

xcr2kx88jq3nyij58tdb6.png

We've got a "Double Top" pattern, which has been confirmed. The main intraday target is the 55 Moving Average. If a pullback from this line happens afterwards, there'll be a moment to have another upward price movement.

xl8iypkdpfs186but2cu1.png

All the Moving Averages have been broken, but there's a "V-Bottom" pattern, so the pair is likely going to reach the nearest resistance at 1.4082. If we have a pullback from this level, bears will probably try to achieve the next support at 1.3915 - 1.3884.

More:
https://goo.gl/tv1e2s

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EUR/USD: "DOUBLE TOP" PATTERN
09:48 30.01.2018

xwxuy78s3rfypih4kjin.png

The main trend is still bullish, but there's a "Double Top" pattern, which has been confirmed. So, the pair is likely going to test the nearest support at 1.2300 - 1.2272 in the short term. If a pullback from this area happens little later on, there'll be a moment to have another bullish price movement.

xlm9dubdygpztn8rhbn6s.png

The 89 Moving Average has acted as support, so the price is consolidating. Therefore, the market is likely going to achieve the closest resistance at 1.2398. This level could be a departure point for a decline towards the next support at 1.2300 - 1.2272.

More:
https://goo.gl/fy3UMW

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EUR/USD Daily Analytics
05:44 31.01.2018
Technical levels: support – 1.2400; resistance – 1.2460, 1.2530.

Trade recommendations:

Buy — 1.2400/20; SL — 1.2380; TP1 — 1.2460; TP2 — 1.2530
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market is inside of channel Tenkan-Kijun and supported by Tenkan-sen.

1517377429-5974574d0f06c411e972e24d898d2


More
https://fbs.com/analytics/articles/eur-usd-uptrend-may-continue-6552?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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GBP/USD Daily Analytics
05:45 31.01.2018
Technical levels: support – 1.4070; resistance – 1.4180, 1.4210.

Trade recommendations:

Buy — 1.4150; SL — 1.4130; TP1 — 1.4210; TP2 — 1.4270.
Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the narrowing channel Tenkan-Kijun; the prices supported by Senkou Span A and returned to Kijun-sen.

1517377429-5838ef800660551113de2aff99712

More:
https://fbs.com/analytics/articles/gbp-usd-pound-supported-by-senkou-span-a-6553?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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USD/CHF Daily Analytics
06:58 31.01.2018
Recommendation:

SELL 0.9310 SL 0.9365 TP1 0.9210 TP2 0.9110 TP3 0.9030

BUY 0.9395 SL 0.9340 TP 0.9465 TP2 0.9500 TP3 0.9600

On the daily chart, USD/CHF formed a short-term consolidation. A decline below January low will allow the pair to continue the decline towards 161.8% target of the “Crab” pattern. The nearest resistance levels are near 0.9410 and 0.9485.

1517381840-a5903a7f3cf43bc4f33886526fd84

On H1, there’s a “Spike and ledge” pattern. A break of the lower border of the 0.9310-0.9395 consolidation range will open the way down for bears. On the other hand, successful test of resistance at 0.9395 will increase the odds of a pullback.

1517381860-351a015a31e5fdb2fee97b43bc66a

More:
https://fbs.com/analytics/articles/usd-chf-franc-got-onto-the-ledge-6556?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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GBP/USD Daily Analytics
07:05 31.01.2018
Recommendation:

BUY 1.4285

SL 1.423

TP1 1.4385 TP2 1.461 TP3 1.4715

On the daily chart, GBP/USD pulled back after reaching 200% target of the AB=CD pattern. Advance beyond January high will allow the pound to continue rising towards $1,4610. As long as the pair’s trading above $1,405, bulls remain in control.

1517382252-b6b56ed02b1869ac79ae2067aff9c

On H1, GBP/USD keeps forming “Spike and reversal with acceleration”. The inability of bears to return the pair inside the uptrend points at their weakness.

1517382268-351a015a31e5fdb2fee97b43bc66a

More:
https://fbs.com/analytics/articles/gbp-usd-bears-showed-weakness-6557?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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WILL DOVISH YELLEN BECOME HAWKISH?
11:51 31.01.2018

Janet Yellen leaves the post of the Fed chair this Friday, February 2. The policy of Yellen was known more as dovish, she used to be cautious and did not hurry to tighten policy more than necessary. However, now experts expect a hawkish-sounding speech from her.

The final meeting of Yellen as a chair of the Fed has started yesterday and ends today on Wednesday, January 31.

Janet Yellen has spent 4 years as the chair of the Federal Reserve. She began the slow process of normalizing interest rates after her predecessor led interest rates to zero during the financial crisis in 2008. Yellen also started reducing the Fed’s $4 trillion balance sheet. Her policy is highly appreciated (although apparently not by Donald Trump).

1517399442-e58ed12974e2759bb0e3e1218ef6f

So what will she say in her last speech?

During this meeting, Donald Trump’s recent tax cuts will be discussed. It is possible that Yellen will announce a positive effect of tax cuts. This conclusion is based on holiday consumer spending and business investment. So it could mean that interest rates will rise more likely sooner than later. But at the same time, it will depend on the new Chairman Mr. Powell, who is supposed to continue the policy of Yellen, however, we may see some deviations.

Also, experts are waiting for bullish commentary regarding the economy in general. For example, J.P. Morgan economists expect that the Fed will describe the economy in a positive way adding that “easy financial conditions” support the growth.

Such indicators as higher commodities prices and progress in manufacturing and services sector will support the hawkish mood of the Yellen’s speech.

Although inflation is below target, it has firmed and core inflation rebound will be taken as the main indicator of a positive forecast.

However, experts do not expect any increase in interest rates now, but they suppose that positive comments about the US economy will give a sign of an interest rates rise in March. 

Despite the anticipated hawkish-sounding speech, the US dollar decreased against most other major currencies. But other events, such as Trump’s unclear address, should be taken into account as well.

Making a conclusion, we can say that in spite of the fact that Yellen’s policy was evaluated mostly as dovish her last speech as the chair of the Fed is supposed to be hawkish because of the good indicators of the economic growth and first results of tax cuts. The Fed will not make any statements about the interest rate, however, the address of Yellen will give clues of its soon rise.

More:
https://fbs.com/analytics/articles/will-dovish-yellen-become-hawkish-6562

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EUR/USD Daily Analytics
11:53 31.01.2018

1517399526-45e3e1d322717d8b3ecdc21340560

The price is consolidating between the levels 1.2456 - 1.2322. The main intraday target is the nearest resistance at 1.2500 - 1.2537. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the next support at 1.2358 - 1.2322.

1517399526-278624f2d60ce19d637692f1ba3bf

There's a "V-Top" pattern, so the pair is likely going to test the 55 Moving Average. If a pullback from this line happens, bulls will probably try to reach another resistance at 1.2500 - 1.2537.

More:
https://fbs.com/analytics/articles/eur-usd-v-top-pattern-6563?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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GBP/USD Daily Analytics
11:56 31.01.2018

1517399526-944c5d8e4b0867c3cbc994d7c9e71

The 34 Moving Average has acted as support, so there's a "Double Bottom" pattern. In this case, the price is likely going to achieve the closest resistance area at 1.4284 - 1.4344.

1517399526-0b0a8e6c863a4fef1d57577dc40eb

There's a local "V-Top" pattern, so the pair is likely going to test the 89 Moving Average. This line could be a departure point for an upward price movement in the direction of the next resistance at 1.4284 - 1.4344.

More:
https://fbs.com/analytics/articles/gbp-usd-34-moving-average-acted-as-support-6564?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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EUR/USD Daily Analytics
12:00 31.01.2018

1517399943-59ef0da97269127d19a7625f0bc2d

The last "Tweezers" and "Hammer" patterns are still on the table, cause there isn't any reversal model so far. In this case, the market is likely going to continue moving higher in the short term.

1517399943-3ba776d3255949a389df591b03e17

The 34 & 55 Moving Averages have acted as support. Also, there's a bullish "Three Methods" pattern, so the market is likely going to reach the next resistance area soon.

More:
https://fbs.com/analytics/articles/eur-usd-three-methods-pattern-6565?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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