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USD/JPY: FLAT UNDER MOVING AVERAGES
12:03 31.01.2018

1517399944-a8b21ccaa0161fdf2a5a8fab5bdbf

The price is consolidating under the Moving Averages. There isn't any confirmed bullish pattern, so the pair is likely going to continue moving lower towards the next "Window".

1517399943-f993ece5ba56d9ebd439c6ecd2651

There's a "High Wave" pattern, so the price is likely going to test the nearest upper "Window". If a pullback from this level happens little later on, we could have another decline.

More:
https://fbs.com/analytics/articles/usd-jpy-flat-under-moving-averages-6566?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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USD/JPY: FLAT UNDER MOVING AVERAGES
12:03 31.01.2018

1517399944-a8b21ccaa0161fdf2a5a8fab5bdbf

The price is consolidating under the Moving Averages. There isn't any confirmed bullish pattern, so the pair is likely going to continue moving lower towards the next "Window".

1517399943-f993ece5ba56d9ebd439c6ecd2651

There's a "High Wave" pattern, so the price is likely going to test the nearest upper "Window". If a pullback from this level happens little later on, we could have another decline.

More:
https://fbs.com/analytics/articles/usd-jpy-flat-under-moving-averages-6566?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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WHAT IS PMI AND WHY IS IT IMPORTANT? 📊


Purchasing Managers’ Index (PMI) is an indicator that measures the economic health of the manufacturing sector. The aim of the Index is to provide information about current business conditions to company analysts, purchasing managers, decision makers.
Learn more on this interesting article 👉 https://goo.gl/MxM2BV

PMI in the Economic Calendar 
How is the information gathered?
Why is it so important?

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💰Get ready for fascinating Foreign Exchange Market tour!

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AUD/USD Daily Analytics
06:35 01.02.2018

Technical levels: support – 0.7970; resistance – 0.8080

Trade recommendations:

Buy — 0.7980; SL — 0.7960; TP1 — 0.8040; TP2 — 0.8080.
Reason: bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen with falling lines; a market in correctional movement and entered into the cloudy area.

1517466914-42a68b4bfa2f0515dfbaa054e9dba

More:
https://fbs.com/analytics/articles/aud-usd-aussie-entered-into-cloud-6583?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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USD/JPY Daily Analytics
06:37 01.02.2018

Technical levels: support – 108.50; resistance – 110.00.

Trade recommendations:

Sell — 110.00; SL — 110.20; TP1 — 109.00; TP2 — 108.50.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a cancelled dead cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the prices have grown to the bottom border of the Cloud.

1517466914-3dcc4d3b0e9d38341d309e86e7227

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-reached-cloud%E2%80%99s-levels-6584?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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EUR/JPY Daily Analytics
07:23 01.02.2018

Recommendation:

BUY 136.25

SL 135.70

TP1 137.25 TP2 138.10

On the daily chart, EUR/JPY retested the upper border of the previous consolidation range of 131.50-134.30. This and the following formation of a pinbar will allow bulls to return initiative. The necessary condition to continue advance towards 127.2% of the AB=CD pattern is the confident test of resistance at 136.25.

1517469652-151f939c6df1fdb4a28b3d5785d89

On H1, EUR/JPY the inability of bears to lead the pair below 38.2% of the last bullish wave points at their weakness. A break of resistance at 136.25 will open the way to the upside.

1517469672-b35d7fb0c22de42ad09055593ba2f

More:
https://fbs.com/analytics/articles/eur-jpy-bulls-keep-on-pushing-6585?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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USD/JPY Daily Analytics
08:27 01.02.2018
Recommendations:

SELL 110.1 SL 110.65 TP 109.10 TP2 108.20

SELL 110.65 SL 111.2 TP1 109.65 TP2 108.65

On the daily chart, a natural pullback happened after USD/JPY reached 88.6% target of the “Bat” pattern. If bears manage to hold the pair within inside the downward trading channel, chances of a sharp decline’s continuation will increase substantially.

1517473593-3297c54597baddc0779dab87f7356

On the hour chart, a break of resistance at 109.50 will increase the risks of activation of the “Shark” pattern with a target of 88.6%. In an obvious bearish trend, rebounds from levels of 110.05-110.15 and 110,65 should be used for selling.

1517473615-1f50b4d918123f905c31c70a9dfda

More:
https://fbs.com/analytics/articles/usd-jpy-bulls-follow-a-shark-6588?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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EUR/USD Daily Analytics
12:25 01.02.2018

1517487855-159e2454640d6b25cbc50f048398d

The main trend is still bullish, but the price is consolidating. It's likely that the market is going to test 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 closest support at 1.2456 - 1.2358.

1517487855-e176175194be4a178c1be19327dea

The pair is consolidating between the levels 1.2456 - 1.2384. The main intraday target is the next resistance area at 1.2493 - 1.2537, which could be a departure point for a bearish correction.


More:
https://fbs.com/analytics/articles/eur-usd-pair-is-consolidating-6591?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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GBP/USD Daily Analytics
12:27 01.02.2018

1517487855-53c51b36b1acc2fcf484907612a40

There's a "Double Bottom", so the market is likely going to reach the closest resistance at 1.4344. If a pullback from this level happens afterwards, there'll be a moment to have a downward correction.

1517487855-108b91da64ce255c9020d1867bc88

Bulls faced resistance at 1.4284, but the market is likely going to continue moving higher in the short term. The main intraday target is the next resistance at 1.4344 - 1.4386

More:
https://fbs.com/analytics/articles/gbp-usd-double-bottom-pattern-6592?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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EUR/USD: BULLISH "HAMMER" ON THE 55 MA
12:30 01.02.2018

1517488154-783a7d8119ca874b8c92c5b9de518

The 21 Moving Average acted as support, so there're a "Tweezers" and a "High Wave" patterns. In this case, the market is likely going to continue rising towards the last high.

1517488154-4e76bff1f63c910057d548a13d978

There's a bullish "Hammer", which has been formed on the 55 Moving Average. Therefore, bulls are likely going to achieve the next resistance area in the short term.

More:
https://fbs.com/analytics/articles/eur-usd-bullish-hammer-on-the-55-ma-6593?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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USD/JPY Daily Analytics
12:33 01.02.2018

1517488154-7ffac5ef33812a942a4a141fe327a

There's no any reversal pattern so far, which means the price is likely going to test the upper "Window" soon. If a pullback from this level, there'll be a moment to have a local decline.

1517488154-8f1038ea7414f5f92164decad7c62

All the Moving Averages have been broken, so the price is rising. If any bearish pattern forms soon, bears will probably try to test the nearest support.

More:
https://fbs.com/analytics/articles/usd-jpy-no-any-reversal-pattern-so-far-6594

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EUR/JPY: BULLS KEEP ON PUSHING
07:23 01.02.2018

Recommendation:

BUY 136.25

SL 135.70

TP1 137.25 TP2 138.10

On the daily chart, EUR/JPY retested the upper border of the previous consolidation range of 131.50-134.30. This and the following formation of a pinbar will allow bulls to return initiative. The necessary condition to continue advance towards 127.2% of the AB=CD pattern is the confident test of resistance at 136.25.

xkvxrtykamw3piwybmu2l.png

On H1, EUR/JPY the inability of bears to lead the pair below 38.2% of the last bullish wave points at their weakness. A break of resistance at 136.25 will open the way to the upside.

xld2vvtd9fvix1ebw66.png

More:
https://goo.gl/mFHxLF

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USD/JPY: BULLS FOLLOW A SHARK
08:27 01.02.2018

Recommendations:

SELL 110.1 SL 110.65 TP 109.10 TP2 108.20

SELL 110.65 SL 111.2 TP1 109.65 TP2 108.65

On the daily chart, a natural pullback happened after USD/JPY reached 88.6% target of the “Bat” pattern. If bears manage to hold the pair within inside the downward trading channel, chances of a sharp decline’s continuation will increase substantially.

xi7wswznm9j5ctswh68bl.png

On the hour chart, a break of resistance at 109.50 will increase the risks of activation of the “Shark” pattern with a target of 88.6%. In an obvious bearish trend, rebounds from levels of 110.05-110.15 and 110,65 should be used for selling.

xldru2gnqtuz76ght5tc.png

More:
https://goo.gl/Jq5Hs6

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DOES THE POUND HAVE CHANCES FOR FURTHER STRENGTHENING?
14:20 01.02.2018

The pound rose from 1.35 versus the US dollar at the start of the year to 1.4345 on January 25. Then there was a pullback down, but starting from Wednesday, January 31, GBP/USD once again headed up. As a result, British currency showed in January its best monthly performance since May 2009.

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The rise happened because of the several reasons. First of all, the weaker US dollar has been supporting the rise of many currencies during a long period. The pound added than 5% since the start of the year, while the dollar is near its 3-year lows against major currencies. Analysts say that the advance of GBP/USD is more the result of the market selling dollars than buying pounds.

The second reason is positive prospects for a Brexit deal that was supported by domestic economic developments and comments of the Bank of England’s Governor Mark Carney.

The general sentiment about Brexit is positive since the start of the year. The market believes that the country will be able to reach a favorable deal with its European partners. The talks are proceeding with some difficulties though. According to Reuters, EU officials don’t want to allow finance companies to operate in each other’s markets without barriers if Britain leaves the single market. A report was leaked this week that Brexit will bring negative consequences to the UK economy, no matter whether it leaves the European Union with a free trade deal, single market access or without any deal at all.

However, so far positive comments of BOE Governor Mark Carney have shielded the pound from the Brexit-related uncertainty. Sterling rose on Tuesday after he said that the country’s economy has recovered from the financial crisis. Mr. Carney said that private sector is gradually firming and a rise in wages over the next few years appeared to be on track. All this allows the bank to occupy itself with bringing down inflation. As a result, many analysts now think that the BOE will raise interest rates faster than expected. The first 2018 policy decision of BOE will be announced on Thursday, February 8. Before this Services PMI will be released on Monday, February 5.

Some analysts have already changed their long-term forecasts for the pound. For example, HSBC increased the year-end projection for GBP/USD from $1.26 to $1.34. UniCredit now thinks that the pound will end 2018 at $1.49. Their previous estimate was by 9% lower. BMO Capital Markets predicted GBP/USD at $1.45 last October, but, nowadays, they forecast $1.52 if the dollar continues to weaken and the UK economy keeps growing.

At the same time, there are experts who think that the pound has gained too much in the short-term and that this growth is not fully justified. Commerzbank believes that there will be a lot of problems in Brexit negotiations. According to the bank, Carney will recognize Brexit-related risks and will discourage the rate hike expectations next week. That’s why Commerzbank is cautious about buying GBP at the current levels.

More:
https://fbs.com/analytics/articles/does-the-pound-have-chances-for-further-strengthening-6597

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EUR/USD Daily Analytics
05:55 02.02.2018

Technical levels: support – 1.2480; resistance – 1.2530.

Trade recommendations:

Buy — 1.2480; SL — 1.2460; TP1 — 1.2530; TP2 — 1.2590
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market is supported by Cloud and returned into the positive area.

1517550933-5974574d0f06c411e972e24d898d2

More:
https://fbs.com/analytics/articles/eur-usd-euro-resumed-uptrend-6605?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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GBP/USD Daily Analytics
05:56 02.02.2018
Technical levels: support – 1.4200; resistance – 1.4280, 1.4390.

Trade recommendations:

Buy — 1.4280; SL — 1.4260; TP1 — 1.4390; TP2 — 1.4470.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices returned into the positive area and may continue uptrend.

1517550933-5838ef800660551113de2aff99712

More:
https://fbs.com/analytics/articles/gbp-usd-pound-going-to-last-week-highs-6606?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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EUR/USD Daily Analytics
07:32 02.02.2018
Recommendation:

SELL 1.2445 SL 1.25 TP 1.2345 TP2 1.22

SELL 1.2335 SL 1.239 TP1 1.2235 TP2 1.22

On the daily chart of EUR/USD, there’s a sustainable uptrend. Bulls are getting ready to test a 3-year high to reach 200% target of AB=CD. Failure or inability to fix above 1.2535 will be the first signal of buyers’ weakness.

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On H1, EUR/USD bulls have to fear the formation of a “Widening wedge”. For that the euro needs to decline below $1.2335. Aggressive sell position is possible at the low of the bar #2. 

1517556693-cd38927ea0f956dcaeee884bec774


More:
https://fbs.com/analytics/articles/eur-usd-bears-wait-for-their-chance-6610?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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EUR/GBP Daily Analytics
07:42 02.02.2018
Recommendation:

SELL 0.8875

SL 0.893

TP1 0.8775 TP2 0.8715 TP3 0.869

On the daily chart of EUR/GBP, bears failed with their attack on the support of the lower border of the medium-term consolidation range of 0.8690-0.9015. Sellers retain hopes for a break and formation of the AB=CD pattern.

1517557263-bc1ce4ebdd72b71af2881b8edc2b5

On H1, a break above resistance levels at 0.8780 and 0.8810 will increase the risks of triggering Gartley pattern with a target at 78.6% of the wave XA. From this area (0.8870-0.8880), there is a high possibility of aggressive selling by large players.

1517557292-311438cdc50bb0f634d8ee27e47a0

More:
https://fbs.com/analytics/articles/eur-gbp-bulls-retreat-but-don%E2%80%99t-give-up-6611?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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