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EUR/USD: EURO STARTED TO SSA 06:01 13.02.2018 Technical levels: support – 1.2230, 1.2270; resistance – 1.2350, 1.2400. Trade recommendations: Buy — 1.2300; SL — 1.2280; TP1 — 1.2400; TP2 — 1.2450 Reason: narrowing bearish Ichimoku Cloud with raising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with narrowing channel; the prices are supported by Senkou Span B and going to upper border of the Ichimoku Cloud. More: https://fbs.com/analytics/articles/eur-usd-euro-started-to-ssa-6770?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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USD/JPY: "HIGH WAVE" PATTERN 10:40 12.02.2018 The price has reached the lower "Window" once again, so we've got a pullback from this area. Therefore, the market is likely going to test the upper "Window" and the Moving Averages. There's a "High Wave" pattern, which has been confirmed. So, the pair is likely going to test the Moving Averages, which could be a departure point for another bearish price movement. More: https://goo.gl/eAWsCv

WEEKLY FOREX OUTLOOK: FEB. 12 - 16 11:40 12.02.2018 The spectacular decline of US stocks was the biggest event of last week. Dow Jones experienced a record fall: it lost more than 1,000 points in one day. The US dollar took its chance to recover. Traders fear that the Federal Reserve will raise interest rates faster than expected. This may hurt profits of American companies, but boosts demand for the cheap dollar. The USD index managed to return above 90.00 and has some chance for stabilization. Resistance is at 91.00. Investors took profit on their bullish EUR/USD positions, and the pair slid by 1.4%. It has to rise above 1.2345 to resume uptrend. Decline below 1.2220 will open the way down to 1.2125 and 1.2080, although we think that the euro should be more or less stable given the euro area’s strong economy. GBP/USD also corrected down last week. The Bank of England offered the pound a positive boost. It raised the UK economic forecasts and said that interest rates probably needed to rise sooner and faster than it had previously thought. However, the general market selloff affected the pound, and GBP/USD failed to stay above 1.40. Support is at 1.38 and 1.3665. Yet, fundamentals have improved and the pair may try to resume uptrend after some consolidation. Australian and New Zealand dollars suffered because of the market’s risk aversion and the fact that central banks of these nations don’t plan to raise interest rates. Both AUD/USD and NZD/USD recovered by the end of the week, but still closed below the weekly moving averages. Forex economic calendar for the coming days includes UK inflation figures on Tuesday, and US consumer inflation and retail sales on Wednesday. The flash European GDP figures will always be released in the middle of the week. Australian employment and US PPI will come out on Thursday and the speech of the RBA governor together with British retail sales and the US building permits are awaited on Friday. More: https://goo.gl/xkmNXB

WEEKLY REPORT: GBP/USD 11:36 09.02.2018 This week was shaking for the cable. At the beginning of the week, the pound continued the Friday’s downward trend. However, it little changed ahead of the Bank of England’s meeting. Although the BOE kept interest rates unchanged at the level of 0.5%, hawkish sounding statements of the Governor made the pound rise. Mark Carney said that they are returning to targeting inflation at the two-year horizon. That is why they may raise the interest rate earlier than planned before. It caused the rally of the pound, and it could achieve the level of 1.4065 after the last close at 1.3875. However, the candle could not close at that height and fell to close at 1.3900. The bullish trend of GBP could not fix because doubts about the Brexit deal still prevail. In addition, the significant plunge of the Dow Johns Index affected the pound as well. The GBP/USD is moving in a horizontal trading channel between 1.3835 and 1.4000. They are support and resistance for the pair in a short-term. The next support is at 1.3741, resistance at 1.4070. Next week traders should take into consideration CPI data that will be released on Tuesday, February 13, and Retail Sales announcement on Friday, February 16, both at 11:30 MT time. More: https://fbs.com/analytics/articles/weekly-report-gbp-usd-6738?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

EUR/GBP Daily Anlytics 07:29 09.02.2018 Recommendation: SELL 0.8715 SL 0.877 TP1 0.8615 TP2 0.8525 TP3 0.8425 On the daily chart, EUR/GBP continues its medium-term consolidation in the 0.8700-0.9015 area. A break of its lower border will increase the odds of the pair’s getting to 200% target of AB=CD. On the other hand, advance above the resistance at 0.9015 will help to resume the uptrend. On H1, EUR/GBP reached 88.6% target of an inverted “Bat”. To continue the decline, bears need to pull the pair below 0.8715. More: https://fbs.com/analytics/articles/eur-gbp-bulls-are-under-pressure-6736?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

EUR/USD Daily Analytics 07:11 09.02.2018 Recommendation: SELL 1.2225 SL 1.228 TP1 1.216 TP2 1.2045 BUY 1.2295 SL 1.224 TP1 1.237 TP2 1.2475 On the daily chart, EUR/USD keeps forming “Spike and reversal with acceleration”. Bears count on the continuation of the decline toward an interim target at 78.6% of the “Bat” pattern. Never the less, the pair is for now above support at 1.2015-1.2045, and bulls are in control of the situation. On H1, after having formed a widening wedge EUR/USD went to the 3-week and formed a short-term consolidation range of 1.2225-1.2295. More: https://fbs.com/analytics/articles/eur-usd-bulls-loosened-their-grip-6735?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

USD/JPY Daily Analytics 06:25 09.02.2018 The price is consolidating between two "Windows". Also, there's no any reversal pattern so far. Therefore, the pair is likely going to test the next support area. There isn't any reversal pattern, cause all the last candles are bearish. So, the market is likely going to test nearest support area. More: https://fbs.com/analytics/articles/usd-jpy-there-isnt-any-reversal-pattern-6731?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

EUR/USD Daily Analytics 06:20 09.02.2018 There's a bearish "Three Methods" pattern, which has been formed under the Moving Averages. In this case, the price is likely going to continue declining. The price is consolidating under the upper "Window". If a pullback from this area happens, we could see a downward price movement towards the next support. More: https://fbs.com/analytics/articles/eur-usd-bearish-three-methods-pattern-6730?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

GBP/USD Daily Analytics 06:15 09.02.2018 The main trend is still bullish, but there's a "V-Top" pattern. The main intraday target is the next support at 1.3834 - 1.3741. Meanwhile, if a pullback from this area happens, we could have another upward price movement. There's a bearish "Thorn" pattern, so the price is consolidating. It's likely that the pair is going to test the nearest resistance at 1.3944 - 1.3979, which could be a departure point for a bullish price movement. More: https://fbs.com/analytics/articles/gbp-usd-thorn-pattern-6729?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

EUR/USD Daily Analytics 06:13 09.02.2018 There's a "V-Bottom" pattern, but the price is consolidating. Also, there's a possible developing bearish pattern. In this case, the market is likely going to test the nearest support 1.2164. Bears faced with support at 1.2222, so the price is likely going to reach the closest resistance at 1.2294. If a pullback from this level happens little later on, the market will probably test the next support at 1.2211 - 1.2194. More: https://fbs.com/analytics/articles/eur-usd-developing-bearish-pattern-6728?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

GBP/USD Daily Analytics 05:58 09.02.2018 Technical levels: support – 1.3900; resistance – 1.4050. Trade recommendations: Buy — 1.3940; SL — 1.3920; TP1 — 1.4050; TP2 — 1.4100. Reason: narrow bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel; the prices are supported by Senkou Span B and returned inside a Cloud. More: https://fbs.com/analytics/articles/gbp-usd-pound-returned-inside-cloud-6726?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

EUR/USD Daily Analytics 05:58 09.02.2018 Technical levels: support – 1.2230; resistance – 1.2350, 1.2400. Trade recommendations: Buy — 1.2260; SL — 1.2240; TP1 — 1.2340; TP2 — 1.2400 Reason: narrow bullish Ichimoku Cloud, but raising Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are supported by Senkou Span B and may bounce to Kijun-sen. More: https://fbs.com/analytics/articles/eur-usd-euro-supported-by-ssb-6725?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

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USD/JPY: THERE ISN'T ANY REVERSAL PATTERN 06:25 09.02.2018 The price is consolidating between two "Windows". Also, there's no any reversal pattern so far. Therefore, the pair is likely going to test the next support area. There isn't any reversal pattern, cause all the last candles are bearish. So, the market is likely going to test. In this case, bears will probably try to achieve the nearest support area. More: https://goo.gl/zFnqWb

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BOE MEETING Every month the Bank of England announces the outcome of its meeting. In February, it will do so today February 8 at 14:00 MT time. As no changes in monetary policy are expected, the key will be the minutes containing votes of the Monetary Policy Committee’s members. The system X-X-X shows how many members voted for a rate hike, how many – to cut the rate, and how many – to keep the rate hold. Comparing these three numbers with those of the previous minutes, we can make predictions about the future actions of the regulator. The last vote was in December and all members voted not to change the rate. Back then the pound’s reaction was muted. This time the central bank will also release its quarterly Inflation Report, so GBP can make big moves versus other currencies. Follow this event on the Economic Calendar https://goo.gl/WThCMq

GBP/USD IS HEADING TOWARDS SUPPORT 11:22 08.02.2018 The price is testing the 89 Moving Average. The main intraday target is the nearest support at 1.3741. If a pullback from this level happens, we could have an upward price movement towards the 89 Moving Average. There's a "Pennant" pattern, so the market is likely going to achieve the closest support at 1.3804 - 1.3741. However, if a pullback from this area is on the table, bulls will probably try to reach the next resistance at 1.3834 - 1.3895. More: https://goo.gl/TJxZ4j

USD/JPY Daily Analytics 11:55 08.02.2018 The price is testing the Moving Averages, but bulls are likely going to test the upper "Window" in the coming hours. If a pullback from this level happens afterwards, there'll be an opportunity to have another decline. There's a bearish "Engulfing", but confirmation of this pattern isn't enough. So, the market is likely going to test the Moving Averages, which could be a departure point for a bullish price movement. More: https://fbs.com/analytics/articles/usd-jpy-price-testing-moving-averages-6718?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

EUR/USD: BEARISH "THREE METHODS" PATTERN 11:51 08.02.2018 There's a bearish "Three Methods" pattern, which has been formed under the Moving Averages. So, the market is likely going to continue moving down in the short term. The upper "Window" has acted as resistance, so there's a "Shooting Star" pattern. In this case, the pair is likely going to test the nearest support area pretty soon. More: https://goo.gl/9db6tA

EUR/USD Daily Analytics 11:51 08.02.2018 There's a bearish "Three Methods" pattern, which has been formed under the Moving Averages. So, the market is likely going to continue moving down in the short term. The upper "Window" has acted as resistance, so there's a "Shooting Star" pattern. In this case, the pair is likely going to test the nearest support area pretty soon. More: https://fbs.com/analytics/articles/eur-usd-bearish-three-methods-pattern-6717?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

GBP/USD IS HEADING TOWARDS SUPPORT 11:22 08.02.2018 The price is testing the 89 Moving Average. The main intraday target is the nearest support at 1.3741. If a pullback from this level happens, we could have an upward price movement towards the 89 Moving Average. There's a "Pennant" pattern, so the market is likely going to achieve the closest support at 1.3804 - 1.3741. However, if a pullback from this area is on the table, bulls will probably try to reach the next resistance at 1.3834 - 1.3895. More: https://fbs.com/analytics/articles/gbp-usd-is-heading-towards-support-6714?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

EUR/JPY Daily Analytics 09:10 08.02.2018 Recommendation: SELL 133.80 SL 134.35 TP1 132.8 TP2 131.8 TP3 131.5 On the daily chart, EUR/JPY returned to the lower border of the medium-term uptrend channel. In case of its successful test, the risks of the pair’s decline to 88.6% of the “Shark” pattern will increase. On the other hand, a pullback will be in favor of the resumption of the long-term uptrend. Renews February low, it will open the way down to 88.6% target of the “Shark” pattern at 131.50. More: https://fbs.com/analytics/articles/eur-jpy-was-attacked-by-japanese-sharks-6708?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics

USD/JPY: YEN IS IN THE LIMBO 09:19 08.02.2018 Recommendation: SELL 108.30 SL 108.85 TP 107.3 TP2 106.3 TP3 105.3 BUY 110.25 SL 109.7 TP 111.25 TP2 111.6 TP3 111.8 On the daily chart, USD/JPY formed an Inside bar. To continue the decline, bears need to pull the pair below support at 108.90 and 108.30. On the other hand, a break of resistance at 109.9-110.15 with the following triggering of the “Bat” pattern will increase the risks of a pullback. On H1, USD/JPY went outside of a triangle. This increases the odds of formation of the “Crab” pattern with the target at 161.8%. The condition needed to resume the downtrend is the decline below support at 108.90. More: https://fbs.com/analytics/articles/usd-jpy-yen-is-in-the-limbo-6709?utm_source=forum&utm_medium=affiliate&utm_campaign=EN_English&utm_content=Riki_Analytics