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GBP/USD Daily Analytics 00:07 01.03.2018 All the Moving Averages have been broken, so the price is declining. It's likely that bears are going to test the nearest support at 1.3656. If a pullback from this level happens little later on, we could have an upward price movement towards the closest resistance at 1.3799 - 1.3835. The last "Triangle" pattern led to the current decline. Meanwhile, it's likely to have a bullish correction in the short term. However, if we see a pullback from the nearest resistance at 1.3763 - 1.3799, there'll be a moment for another decline. More: https://goo.gl/w47KZ9

[B]EUR/USD Daily Analytics[/b] 00:06 01.03.2018 The main trend is still bullish, but there's a developing bearish correction, so we should keep an eye on the next support at 1.2129 - 1.2050 as an intraday target. If a pullback from this area happens little later on, we could have an upward price movement towards the nearest resistance at 1.2205 - 1.2246. The price is consolidating between the levels 1.2233 - 1.2205. The main intraday target is the closest resistance at 1.2233, which could be a departure point for a decline in the direction of the next support at 1.2164. More: https://goo.gl/BXHDBT

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Forex Basics. Technical indicators are divided into several groups depending on their purpose. As purposes of the indicators are different, a trader needs not one, but a combination of several indicators to open a trade. In this article, we will tell about the three most popular technical indicators. Find out which ones are these https://goo.gl/D78QJt

USD/JPY Daily Analytics 13:07 28.02.2018 The 34 Moving Average has acted as resistance, so there's an "Evening Star", which has been confirmed. Therefore, the pair is likely going to test the nearest support area in the coming hours. There's a pullback from the lower "Window", so we've got an "Inverted Hammer" pattern. In this case, we're likely going to have a local upward correction soon. Meanwhile, bears will probably try to deliver a new local low afterwards. More: https://goo.gl/m3SAR3

EUR/USD Daily Analytics 13:05 28.02.2018 The Moving Averages have acted as resistance, so the price is declining. However, we've got a bullish "High Wave" pattern, so there's an opportunity to have a local bearish correction in the short term. Nevertheless, the market is likely going to continue moving down afterwards. There're bullish patterns such a "Harami" and a "Hammer", but both of them haven't been confirmed yet. So, the price is likely going to test the 55 Moving Average, which could be a departure point for another decline. More: https://goo.gl/DnFm1n

GBP/USD Daily Analytics 06:43 28.02.2018 Recommendation: SELL 1.3850 SL 1.3905 TP1 1.375 TP2 1.3645 TP3 1.358 On the daily chart, GBP/USD is consolidating in the 1.3820-1.4050 range within the “Spike and ledge” pattern on the basis of 1-2-3. A break of its lower border will allow bears to continue correction towards 88.6% of the “Bat”. On the other hand, advance above resistance at 1.4050 will lead to the uptrend’s resumption. On H1, GBP/USD after forming “Wofle waves” and a pullback from the upper border of the downtrend channel bears are ready to continue the decline.a More: https://goo.gl/p3cyVZ

USD/CHF Daily Analytics 06:38 28.02.2018 Recommendation: BUY 0.9415 SL 0.936 TP1 0.9515 TP2 0.96 TP3 0.977 On the daily chart of USD/CHF, bulls are gradually moving towards triggering the “Shark” pattern and its 88.6% target. The conditions necessary to continue the rally include the pair’s settling above support at 0.9380 and advance above resistance at 0.9450. On H1 of USD/CHF, another test of resistance at 0.9410-0.9415 will increase the odds of a “Shark” pattern with a target at 88.6%. At the same time, the AB=CD pattern with targets at 200% and 224% will become viable. More: https://goo.gl/9Dj81w

GBP/USD Daily Analytics 06:34 28.02.2018 Technical levels: support – 1.3880; resistance – 1.3930. Trade recommendations: Sell — 1.3920; SL — 1.3940; TP1 — 1.3870; TP2 — 1.3810. Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the prices going to the lows of the previous week. More: https://goo.gl/vqwmqr

EUR/USD Daily Analytics 06:32 28.02.2018 Technical levels: support – 1.2220; resistance – 1.2250. Trade recommendations: Sell — 1.2250; SL — 1.2270; TP1 — 1.2180; TP2 — 1.2110 Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen and the lines are falling down; the market is on the 4W-lows and may go lower. More: https://goo.gl/wjuvpW

GBP/USD Daily Analytics 01:30 28.02.2018 There's a "Thorn" pattern, so the market is likely going to test the nearest resistance at 1.3979 - 1.4011. This area could be a departure point for a downward price movement in the direction of the next support at 1.3835. We've got a local "V-Top", so there's a moment to have a local bearish correction. Anyway, bulls are likely going to achieve another resistance at 1.3958 - 1.3979 afterwards. More: https://goo.gl/VphHjX

EUR/USD Daily Analytics 01:29 28.02.2018 The last "Triangle" pattern has been broken, so the price is declining. The main intraday target is the next support at 1.2205 - 1.2164. If we have a pullback from these levels, there'll be an opportunity for an upward price movement towards the nearest resistance at 1.2246. The price is consolidating under the broken "Triangle" pattern. It's likely to have a bullish correction in the coming hours. Meanwhile, if a pullback from the closest resistance at 1.2259 - 1.2275 happens little later on, we could have another decline. More: https://goo.gl/pqbFsA

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THE ELLIOTT WAVE PRINCIPLE According to Elliott, a complete “bullish” market cycle consists of a 5-wave advance and a 3-wave retracement. Waves 1,3 and 5 are impulses, waves 2 and 4 – rollbacks from the peaks in the uptrend. Corrective waves (2,4) can be divided into 3 smaller waves, whereas the impulses – into 5 waves. Learn in this articles how to identify them https://goo.gl/ogj32i

POWELL’S FIRST TESTIMONY: WILL THE DOLLAR FINALLY RISE? 14:51 27.02.2018 Last week the greenback could strengthen its position a little bit. However, since yesterday the US dollar was weakening against most major currencies because of the expectations of the today Jerome Powell’s first testimony to the Congress as Fed Chair. Traders were waiting if the new chairman will continue the monetary policy of his predecessor Janet Yellen or his policy will be more hawkish. Let’s look at the main ideas of Powell’s testimony and will try to forecast its impact on the US dollar’s future. As expected, Powell’s speech was hawkish. In his testimony Mr. Powell gave positive comments about the labour market, said that financial conditions are accommodative in spite of volatility, export is firm, fiscal policy is more stimulative. At the same time, he mentioned that inflation is still below 2% objective. As a conclusion, the chairman said that the Fed is aimed at the further gradual increases in the federal funds rate. It led to the rise of the US dollar. However, the new chairman did not give clear clues on the amount of the future rate hikes. Furthermore, he did not mention the last important events that happened in the US economic world such as stock market selloff and an increase of the US Treasury yields. So the speech was superficial. It creates doubts about the term of the dollar’s increase. First of all, Jerome Powell did not mention the number of rate hikes. Secondly, his testimony was not more hawkish than expected. Thirdly, the Fed is anticipated to raise the interest rate next month, so it is questionable that the traders will overvalue the increase. More likely they will look for further rate hikes. And the last but not least, the greenback is affected by a lot of factors: political and economic, so they will have a huge influence as well. Making a conclusion we can say that the speech of Mr. Powell was expectedly optimistic. However, he did not risk, so did not give any additional comments about the rate hikes. “Further gradual increases” let the dollar recover after this week fall, however, it is still under pressure. More clues on the future monetary policy we can get during Powell’s testifies on Thursday, March 1 at 17:00 MT time. More: https://goo.gl/nZMH32

USD/JPY Daily Analytics 12:31 27.02.2018 There's a bullish "High Wave", so the price is rising. It's likely that the pair is going to test the 55 Moving Average soon. If a pullback from this line happens, we could have another decline. The price is consolidating along the Moving Averages. Also, there's a bearish "Three Methods" pattern, so we're likely going to have a downward correction in the short term. However, if any bullish pattern forms little later on, there'll be a green light for an upward price movement towards the nearest resistance area. More: https://goo.gl/8GiFsh

EUR/USD Daily Analytics 12:26 27.02.2018 The Moving Averages are acting as resistance, so the last bearish "Engulfing" pattern is still on the table. In this case, if a pullback from the nearest resistance area happens little later on, there'll be a moment for another decline. The 144 Moving Average has acted as resistance, so there're bearish patterns such a "Doji" and a "Harami". Therefore, we're likely going to have a decline during the day. Meanwhile, if any bullish pattern arrives afterwards, we could have an intraday upward price movement. More: https://goo.gl/Fnsuq4

USD/CAD Daily Analytics 07:04 27.02.2018 Recommendations: BUY 1.2725 SL 1.267 TP1 1.285 TP2 1.2915 On the daily chart USD/CAD, there is a short-term consolidation in a range of 1.2615-1.2715. The break of its upper bound will let bulls count on the realization of 88,6% and 161,8% targets of “Shark” and AB=CD patterns. On the contrary, if quotations leave uptrend channel, risks of the long-term bearish trend’s recovery will increase. On H1 of USD/CAD, a successful break of the resistance at 1.2725 will open a way to 88,6% and 200% targets of “Shark” and AB=CD patterns. More: https://goo.gl/CpEuZv

XAU/USD Daily Analytics 06:59 27.02.2018 Recommendations: BUY $1344 SL $1329 TP $1374 TP2 $1390 TP3 $1410 SELL $1320 SL $1335 TP1 $1290 TP2 $1270 On the daily chart XAU/USD, a rebound from the bottom line of the uptrend channel allowed gold to hope for the bullish trend’s recovery again. Nevertheless, if a repeated test of the support at $1320 an ounce succeeds, risks of correction will increase. On H1, there is a transformation of the “Shark” pattern in 5-0. A successful break of the support at $1329.5-1330.5 will activate a bearish trend. A necessary condition for the recovery of the bullish trend is the return of gold to the previous uptrend channel. More: https://goo.gl/uMpCHp

USD/JPY Daily Analyitcs 06:06 27.02.2018 Technical levels: support – 106.50; resistance – 107.00. Trade recommendations: Sell — 106.80; SL — 107.00; TP1 — 106.10; TP2 — 105.30. Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the prices are inside of a Cloud, but the Dollar looks very weak. More: https://goo.gl/GqpGhc

AUD/USD Daily Analytics 06:04 27.02.2018 Technical levels: support – 0.7840; resistance – 0.7860, 0.7900 Trade recommendations: Buy — 0.7850; SL — 0.7830; TP1 — 0.7900; TP2 — 0.7950. Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen with the horizontal lines; the prices in consolidation above Tenkan-sen and Kijun-sen. More: https://goo.gl/kuvGJZ

GBP/USD Daily Analytics 01:19 27.02.2018 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. 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. More: https://goo.gl/6T5umS

EUR/USD Daily Analytics 01:16 27.02.2018 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. 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. More: https://goo.gl/Z5zPoi

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