Forex Signals Daily for : EUR/USD GBP/USD USD/CHF GBP/CHf GBP/JPY USD/JPY EUR/JPY - page 27

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USD/JPY: MAIN TARGET IS 89 MA
12:15 20.03.2018




The pair has been rising since the last "Engulfing" pattern formed. The main target is the 89 Moving Average. If a pullback from this line happens little later on, there'll be a moment for another decline.



There's a bearish "High Wave" pattern, which hasn't been confirmed yet. So, if a pullback from the Moving Averages happens, bulls are likely going to test the upper "Window".
 
EUR/USD: BEARISH "HIGH WAVE" PATTERN
12:13 20.03.2018




There're bearish patterns such a "Tower" and a "Shooting Star", which both have been confirmed. So, the market is likely going to test the 144 Moving Average, which could be a departure point for another bullish price movement.



The last bearish "High Wave" pattern led to the current decline. It's likely that the pair is going to test the next support area in the short term. If any reversal pattern forms afterwards, bulls will probably try to deliver an upward price movement.
 
forex8888:

EUR/USD Price 1.2640 Trend : Up

@Buy At : 1.2640 stop loss : -35 Pips Target : +55 Pips

@Buy Limit : 1.2550 stop loss : -35 Pips Target : +35 Pips

@Sell Limit : 1.2753 stop loss : -35 Pips Target : +45 Pips

GBP/CHF Price 1.5742 Trend : Up

@Buy At : 1.5742 stop loss : -35 Pips Target : +45 Pips

@Buy Limit : 1.5600 stop loss : -35 Pips Target : +35 Pips

@Sell Limit : 1.5899 stop loss : -35 Pips Target : +45 Pips

EUR/JPY Price 106.68 Trend : Down

@Sell At : 106.68 stop loss : -35 Pips Target : +45 Pips

@Buy Limit : 106.03 stop loss : -35 Pips Target : +35 Pips

@Sell Limit : 108.05 stop loss : -35 Pips Target : +45 Pip

Good
 
GBP/USD: THE POUND DREW AN INSIDE BAR
07:31 21.03.2018


Recommendations:

BUY 1.4065

SL 1.401

TP1 1.4165 TP2 1.4225

On the daily chart of GBP/USD, there was a natural pullback after the pair reached the 88.6% target of the subsidiary “Shark” pattern. An inside bar was formed. A break of the resistance at 1.4065 will increase risks of the rally’s continuation to the 88.6% target of the parent “Shark” pattern.

On H1, the formation of the reversal “Three Indians” pattern endangered the implementation of “Wolfe Waves” and “Shark” patterns. To continue the uptrend, bulls need to break the resistance at 1.4065.

 
USD/CHF: FRANC IS LOSING GROUND
06:49 21.03.2018


Recommendation:

BUY 0.9520

SL 0.9465

TP1 0.9620 TP2 0.9720 TP3 0.9770

On the daily chart of USD/CHF, bulls managed to settle above an important level of 0.9510. This indicates their strength and allows to expect an advance to 88.6% target of the “Shark” pattern. To begin with, however, the pair needs to get out of the descending channel.


On H1, there’s a sustainable uptrend. Pullbacks to support at 0.9520 and 0.9480 should be used for buying with targets at 161.8% and 200% of AB=CD.

 
GBP/USD: POUND IS NEAR MAIN RESISTANCE
07:46 22.03.2018

Technical levels: support – 1.4140; resistance – 1.4200, 1.4250.

Trade recommendations:

Sell — 1.4200; SL — 1.4220; TP1 — 1.4140; TP2 — 1.4080.
Reason: bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with the rising lines; the market was supported by Kijun-sen, but now is overbought and it’s under strong resistance.

 
EUR/USD: THE BULLS RETURNING TO MARKET
07:45 22.03.2018

Technical levels: support – 1.2300, 1.2350; resistance – 1.2400.

Trade recommendations:

Buy — 1.2360; SL — 1.2340; TP1 — 1.2400; TP2 — 1.2450
Reason: expanding bearish Ichimoku Cloud with rising Senkou Span A; a cancelled dead cross of Tenkan-sen and Kijun-sen with the rising lines; the market are returned into the positive area.

 
USD/JPY: "INVERTED HAMMER" PATTERN
13:29 26.03.2018



There's a "Piercing Line", which has been formed at the last local low. So, we should keep an eye on the Moving Averages as an intraday bullish target.



We've got an "Inverted Hammer", which has been confirmed by the last "Three Methods" pattern. So, bulls are likely going to test the Moving Averages. If a pullback from these lines happens little later on, there'll be a moment for another decline.
 
WEEKLY FOREX OUTLOOK: MAR. 26-30
11:29 26.03.2018

US President Donald Trump signed a presidential memorandum that will target up to $60 billion of Chinese products with tariffs. If China comes up with countermeasures, trade tensions will escalate further.

Concerns about trade wars have overshadowed central bank policy. The Federal Reserve raised the federal funds rate to 1.75% and signaled a relatively upbeat outlook for the economy. This is exactly the outcome the market was expecting, and the US dollar didn’t get any strength from the event. 

The US dollar index declined and looks vulnerable for 2018 lows in the 89.20 area.

In the current uncertain environment, traders prefer low-risk assets like the Japanese yen, especially in pairs like AUD/JPY and NZD/JPY. As for USD/JPY, if it settles below the key level of 105.00, we’ll see a deeper decline.

GBP/USD rose to the highest levels since January above 1.4200. The pound went up as the European Union and Britain agreed on a Brexit transition deal and the UK released strong wage growth figures. Two members of the Bank of England unexpectedly voted for a rate hike. However, traders focused on the idea that rates will rise only very slowly, so the pound retreated down by the end of the week. Traders continue to expect a rate hike in May, so the meeting didn’t really bring any surprises.

The 200-week MA creates resistance near 1.43. GBP/USD may retrace down to 1.3930 and 1.38.

EUR/USD continued consolidation between 1.24 and 1.22. Long-term uptrend remains in place, although the pair has lost its bullish momentum. European PMIs came below expectations. As a result, we expect the euro to continue trading close to the current levels.

Economic calendar

The economic calendar for the upcoming days is very light. Friday will be a bank holiday in many countries because of approaching Easter. The few important releases include US consumer confidence on Tuesday, American GDP on Wednesday and British current account together with Canadian GDP and US core PCE price index on Thursday.
 
GBP/USD: "DOUBLE TOP" PATTERN
08:49 27.03.2018




There's a "Double Top" pattern, so the market is likely going to test the nearest support at 1.4144. However, if we see a pullback from this line afterwards, bulls will probably try to reach the next resistance at 1.4277 - 1.4344.



There're two "V-Top" patterns in a row. So, the pair is likely going to achieve the 55 Moving Average, which could be a starting point for another bullish price movement.
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