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EURUSD Daily Analytics
12:59 17.01.2018

1516193908-942290cc2a2c28676e8bfdfeeff0c

The main trend is still bullish, however there's a "V-Top" pattern, so the market is likely going to test the nearest support at 1.2225 - 1.2164. If a pullback from this area happens little later on, there'll be an opportunity to have another upward price movement.

1516193908-f35eb27f334905199fbc88767e701

We've got a "V-Top", so there's a developing bearish correction. The main intraday target is the closest resistance at 1.2272 - 1.2296. This area could be a departure point for a decline in the direction of the 55 Moving Average.

More:
https://fbs.com/analytics/articles/eurusd-v-top-pattern-6293

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GBP/USD Daily Analytics
13:02 17.01.2018

1516193908-b9ddd4fff41489c45686d8f4d7548

Bulls faced with resistance at 1.3834, so there's a "V-Top" pattern. In this case, we should keep an eye on the closest support at 1.3730 as the next bearish target. If a pullback from this level happens, there'll be a moment to have a bullish price movement towards the nearest resistance at 1.3834 - 1.3913.

1516193908-dce666f59d6aec5001cd0d02b9e2f

The price is consolidating between the levels 1.3843 - 1.3765. The main intraday target is the next resistance at 1.3819 - 1.3834. Meanwhile, if a pullback from this area happens, there'll be an opportunity to have a decline towards the closest support at 1.3730 - 1.3692.

More:
https://fbs.com/analytics/articles/gbp-usd-bulls-faced-with-resistance-6294

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EURUSD Daily Analytics
13:05 17.01.2018

1516194235-62e0946bc536805427c8cc43900c4

There's a "High Wave" pattern, which has been formed at the last local high. If the 34 Moving Average acts as support, there'll be an opportunity to have another upward price movement.

1516194523-1555def3abae8277375bdc3ac00bc

The last "Shooting Star" led to the current decline. However, we could have a local upward correction in the coming hours. Nevertheless, the 89 Moving Average is likely going to act as support little later on.

More:
https://fbs.com/analytics/articles/eurusd-high-wave-pattern-6295

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USD/JPY Daily analytics
13:07 17.01.2018

1516194235-72339e004868800d93c56e599be57

There's a bullish "Doji", which has been formed at the local low. So, the market is likely going to test the 34 Moving Average, which could be a departure point for another decline.

1516194235-60395f462b4b7ea2e27029d485873

We've got a "Doji" pattern on the 34 Moving Average. It's likely that the pair is going to reach the 89 MA soon. If a pullback from this line happens, bears will probably try to break the last low.

More:
https://fbs.com/analytics/articles/usd-jpy-doji-pattern-on-the-34-ma-6296

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EUR/JPY Daily Analytics
07:13 18.01.2018

Recommendation:

BUY 136.10

SL 135.55

TP1 137.10 TP2 138.00

On the daily chart, the initiative returned to bulls as EUR/JPY rebounded from the uptrend’s lower border. If the pair exits from the current short-term consolidation with the following renewal of January high, this will trigger the pattern AB=CD. Its 127.2% target is at 138.00.

1516259528-151f939c6df1fdb4a28b3d5785d89

On H1, EUR/JPY is in the sustainable uptrend. A break for the triangle’s upper border moved bulls to the next goal. A successful test of resistance 136.10 creates grounds for continuation to the north.Β 

1516259563-b35d7fb0c22de42ad09055593ba2f

More:
https://fbs.com/analytics/articles/eur-jpy-bulls-are-developing-an-attack-6312

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USD/JPY Daily Analytics
07:36 18.01.2018
Recommendation:

BUY 112.10

SL 111.55

TP 113.00 TP2 114.30 TP3 115.00

On the daily chart, USD/JPY bulls managed to fight back bears and return the pair inside the previous downtrend channel. This increases buyers’ chances for revenge. To begin with, they need to take an important resistance of 111.65.

1516260854-3297c54597baddc0779dab87f7356

On H1, USD/JPY can for the Dragon’s head in line with the β€œDragon” pattern in the 111.70-112.05 range. Only a confident break of the previous consolidation will allow bulls continue the rally.


1516260870-1f50b4d918123f905c31c70a9dfda

More:
https://fbs.com/analytics/articles/usd-jpy-bulls-want-revenge-6313

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EUR/USD Daily Analytics
08:13 18.01.2018
Technical levels: support – 1.2160, 1.2130; resistance – 1.2260.

Trade recommendations:

Buy β€” 1.2130; SL β€” 1.2110; TP1 β€” 1.20200; TP2 – 1.2260.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; the prices are on the support of Kijun-sen, but correction may continue to Cloud’s levels.

1516263181-5974574d0f06c411e972e24d898d2

More:
https://fbs.com/analytics/articles/eur-usd-euro-supported-by-kijun-sen-6315

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USD/JPY Daily Analytics
08:14 18.01.2018
Technical levels: support – 111.00; resistance – 111.60

Trade recommendations:

Sell β€” 111.60; SL β€” 111.80; TP1 β€” 111.00; TP2 β€” 110.50.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel Tenkan-Kijun; the market is in correction phase.

1516263181-3dcc4d3b0e9d38341d309e86e7227

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-in-correction-to-cloud-6316

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THE NEW ZEALAND DAIRY INDUSTRY – KEY FOR NZD TRADERS
08:53 18.01.2018

Why is it important for traders to know the priority industries of countries whose currencies they trade and take into account such events as the Global Dairy Trade (GDT), for example?

Let’s look at New Zealand. If you trade the New Zealand dollar, you should know that New Zealand is the world dairy leader. The dairy industry is the biggest export earner of New Zealand, it contains 29% of its export.

Fonterra
It is important to tell about Fonterra. Fonterra is a New Zealand multinational dairy co-operative that is responsible for about 30% of the world’s dairy exports. It is owned by around 10,500 New Zealand farmers.

What can affect the New Zealand dairy industry
Any changes in global dairy prices lead to changes in New Zealand trade, in turn, the New Zealand dollar.

It is worth to say that dairy industry was affected by several events. They are the Russian trade embargo, the cut of Chinese imports and dynamics in the international currency exchange market.

In 2013 Russia banned the imports of the Fonterra products, that was the second exporter on the Russian market. So it means that New Zealand lost a big importer, that affected the supply and New Zealand dollar as well. But nowadays New Zealand products have come back to the Russian market, that created good prospects for the currency.

It is important to take into account that China is one of the main trade partners of New Zealand, so any changes in import will affect the New Zealand export and exchange rate as well. Now New Zealand is raising its share in Chinese import of dairy products.

Considering currency exchange market, the weakness of the US dollar has a good impact on the New Zealand dollar.

What GDT is
Coming back to another important part of our question, let’s talk about GDT. GDT is the leading global auction for trading large volume of dairy ingredients and reference price discovery. Global Dairy Trade affects the price of currency because it regulates the number of dairy products that imports and exports in the world.

Below you can see the New Zealand Global Dairy Trade Price Index. It measures the weighted-average price of 9 dairy products sold at auction every two weeks. So we can see if commodity prices rise, export income increases and vice versa.

1516265359-a58849bb9954b93bb9c3f3a050ddf

Tips
In February 2018 the GDT will take place on Tuesday, February 6 at 12:00 UTC and on Tuesday, February 20 at 12:00 UTC.

Conclusion
Let’s sum up why traders should take into account main industries of the countries whose currencies they trade. We can say on the example of New Zealand that if traders know strengths of countries and take into consideration even such specific events as Global Dairy Trade, it can help them to make right decisions about currency trade.

Talking about prospects of New Zealand dollar we can say that it has good chances according to its dairy industry: the come back to the Russian market, the weakness of the US dollar and the increasing share in Chinese imports support its increase.

More:
https://fbs.com/analytics/articles/the-new-zealand-dairy-industry-%E2%80%93-key-for-nzd-traders-6318

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EURUSD Daily Analytics
11:20 18.01.2018

1516274311-486fe2de50630fb30de4f294ef536

The main trend is still bullish, but there's a bearish "Triple Top" pattern, so the market is likely going to test the nearest support area at 1.2129 - 1.2080. If a pullback from these levels happens little later on, there'll be an opportunity to have another upward price movement towards the next resistance at 1.2296 - 1.2322.

1516274310-cdcb953801ed312352bf075c215c2

The 55 Moving Average has acted as support, so the price is consolidating. In this case, we should keep an eye on the closest resistance at 1.2246 - 1.2272 as an intraday target. This area could be a departure point for a decline in the direction of the nearest support at 1.2129 - 1.20280.

More:
https://fbs.com/analytics/articles/eurusd-bearish-triple-top-pattern-6321

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GBP/USD Daily Analytics
11:22 18.01.2018

1516274309-6c6fddece00bbdf830681795b42ef

Bulls faced with resistance at 1.3913, so there's a bearish "Thorn" pattern. The main intraday target is the closest support at 1.3765 - 1.3730. Meanwhile, if a pullback from this area is on the table, the pair will probably try to reach another resistance at 1.3913 - 1.3942.

1516274309-6d66a3cb97f09d026419c9a0a38d1

There's a "V-Top" pattern, so the price is consolidating. It's likely that the market is going to test the closest resistance at 1.3834 - 1.3871. If we have a pullback from these levels, there'll be a moment to have a decline towards another support at 1.3765 - 1.3730.

More:
https://fbs.com/analytics/articles/gbp-usd-thorn-pattern-6322

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EURUSD Daily Analytics
12:29 18.01.2018

1516278523-9d67dd82da53af464f1cbdeccece3

We've got a "High Wave" and an "Engulfing" patterns, which both have been formed at the last high. So, the market is likely going to test the 34 Moving Average in the short term.

1516278523-79eaa43a8be51411be35dc68ea651

There's a bullish "Harami", which has been confirmed by the last "Three Methods" pattern. Therefore, we should keep an eye on the upper "Window" as the next intraday target.

More:
https://fbs.com/analytics/articles/eurusd-bullish-harami-6323

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USD/JPY Daily Analytics
12:32 18.01.2018

1516278523-ded7b91c333ac10bb7d5b02aa81c1

There's a bullish "Doji", which has been confirmed enough. Also, we've got a bullish "Three Methods" pattern, so the market is likely going to test the 89 Moving Average soon.

1516278523-6d6743daf9a9b545dfd2d1b2669ec

The last bullish "Harami" has confirmation, so there's an opportunity to have a new local high soon. Meanwhile, if a pullback from the nearest resistance area happens, there'll be a moment to have another decline.

More:
https://fbs.com/analytics/articles/usd-jpy-market-going-to-test-89-ma-6324

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EURUSD Daily Analytics
13:02 18.01.2018

1516280464-f1922981f058b17cef40522967862

There's a pullback from 4/8 MM Level, so wave [iv] might have been formed. In this case, we're likely going to have wave [v] of 5 shortly. The main intraday target is 6/8 MM Level.

1516280464-a844011cd7bab294d0b48fa45f63e

It's likely that wave [iv] finished like a double three pattern, so there's a developing upward impulse in wave (i). If a pullback from +1/8 MM Level happens little later on, there'll be a moment to have wave (ii) of [v].

More:
https://fbs.com/analytics/articles/eurusd-pullback-from-4-8-mm-level-6325

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AUD/USD Daily Analytics
08:14 19.01.2018

Technical levels: support – 0.7980; resistance – 0.8030

Trade recommendations:

Sell β€” 0.8030; SL β€” 0.8050; TP1 β€” 0.7980; TP2 β€” 0.7940.
Reason: bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; a market is overbought and under the strong resistance of 0.8030.

1516349640-42a68b4bfa2f0515dfbaa054e9dba

More:
https://fbs.com/analytics/articles/aud-usd-aussie-under-strong-resistance-6338

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USD/JPY Daily Analytics
08:15 19.01.2018
Technical levels: support – 110.30; resistance – 111.00

Trade recommendations:

Sell β€” 110.70/80; SL β€” 111.00; TP1 β€” 110.30; TP2 β€” 110.00.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a weak goldean cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are on the weak Kijun’s support.

1516349640-3dcc4d3b0e9d38341d309e86e7227

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-will-continue-downtrend-6339

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BITCOIN (BTC/USD) Daily Analytics
01:56 22.01.2018

The cryptocurrency continues to depreciate against the US dollar and still keeps intact the projections we have made in past reports. Technically speaking, the BTC/USD is finding support for the Fibonacci extension of 61.8% in 9.259. This has allowed to have relief in the short term and is waiting to resume the bearish trend.

Fears regarding strict regulations for Bitcoin are still latent and the latest news about it does not favor BTC bulls. According to the latest reports, the government of India is beginning to send tax notices to the cryptocurrency traders. On the other hand, an introduced bill could force South Korean officials to declare their investments in this market.

The Parabolic SAR on the H4 chart is calling for more losses in the Bitcoin because it remains below the 200-hour moving average, which continues to guide the path of the BTC/USD pair in the short term. In addition, the resistance of 23.6% continues to block the advance of the bulls, which produced the formation of an enveloping candlestick.

What do we expect?

According to our forecasts in the H4 chart, cryptocurrency still has enough traction to reach the goal of the 100% Fibonacci extension in 5,754, which would complete a cycle in the short term. The RSI remains in negative territory, which favors the falls in the BTC and which strengthens our hypothesis for the week ahead

1516586133-f6f1917cd7f94b1941b5c83a26139

More:
https://fbs.com/analytics/articles/bitcoin-btc-usd-poised-to-do-another-lower-extension-6359

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EUR/AUD Daily Analytics
01:57 22.01.2018

EUR/AUD remains trading around the Fibonacci zone of 61.8% at 1.5265, at which it’s expecting to find a strong rebound in order to allow further gains across the board. The ongoing consolidation could strengthen such bias and if it manages to break once again above the 200 SMA at H1 chart, the next short-term target would be the -23.6% Fibonacci level at 1.5514.

RSI indicator remains in the negative territory, but it’s close to the neutral territory.

1516586220-f64045ef6bf68534ad183fc7ab5a8

More:
https://fbs.com/analytics/articles/eur-aud-consolidation-above-a-solid-support-6360

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EUR/USD Daily Analytics
06:19 22.01.2018

Technical levels: support – 1.2210; resistance – 1.2300.

Trade recommendations:

Buy β€” 1.2230; SL β€” 1.1210; TP1 β€” 1.2300; TP2 β€” 1.2330
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with Tenkan-sen; the prices are supported by Cloud.

1516601960-5974574d0f06c411e972e24d898d2

More:
https://fbs.com/analytics/articles/eur-usd-euro-may-continue-uptrend-6365

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GBP/USD Daily Analytics
06:20 22.01.2018

Technical levels: support – 1.3840; resistance – 1.3940.

Trade recommendations:

Buy β€” 1.3840/60; SL β€” 1.3820; TP1 β€” 1.3940; TP2 β€” 1.3980.
Reason: bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; a market is on the strong support of Kijun-sen.

1516601960-5838ef800660551113de2aff99712

More:
https://fbs.com/analytics/articles/gbp-usd-pound-supported-by-kijun-sen-again-6366

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