Daily analysis of GBP/JPY for February 28, 2018

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Overview

The GBP/JPY pair formed a new bearish wave yesterday to approach support of the sideways range at 148.35. Until that moment, the price will remain trading sideways if the main levels settle, represented by the current support and the resistance at 151.00. Interestingly, strong negative momentum is provided by the main indicators, particularly stochastic is staying below 50 level. This will increase the chances for breaking the current support. The pair could start bearish correctional trading, so that the price is expected to reach 146.30 and then the bullish channel's support at 144.80. The expected trading range for today is between 150.40 and 148.35

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Daily analysis of Gold for February 28, 2018

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Overview

Gold price came under strong negative pressure yesterday evening to settle at 1,316.48 level. Please note that the price finds solid support at this level, reinforced by stochastic positivity. On the other hand, the EMA50 creates negative pressure that might push the price to break the mentioned level and extend the correctional bearish wave on the short-term basis. Therefore, we need to get a clearer signal for the next trend, which we will get through breaking 1,316.48 support or breaching 1,321.50 resistance. Be aware that breaking the mentioned support will push the price to target 1,301.20 as the next station. However, breaching the resistance will lead the price to start recovery attempts, the main target begins by testing 1,335.40. The expected trading range for today is between 1,300.00 support and 1,335.00 resistance.

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Daily analysis of Silver for February 28, 2018

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Overview

Silver traded with an obvious downward bias yesterday. Now silver is aiming to reach the key support 16.25. As we mentioned in our recent articles, holding above this level keeps the bullish scenario valid for the short term. The next main target is set at 17.43. Therefore, we still suggest the bullish trend on the intraday and short-term basis. Breaching 16.70 will ease the mission of achieving the mentioned target. Please note that breaking 16.25 will push the price to test 15.49 areas before any new attempt to rise. The expected trading range for today is between 16.20 support and 16.70 resistance.

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Global macro overview for 28/02/2018

The inflation in the Eurozone is a hot topic today on the markets in light of the publication of preliminary readings. After weaker than expected preliminary estimates from Germany, there was the possibility of a negative surprise with indications from the Eurozone. The German CPI index slowed in February to 1.4% from 1.6% annually. As for the CPI for the entire euro area, analysts expected core CPI inflation to remain above 1.0% in February. In the second month of this year, CPI inflation was also expected to slow down to 1.2% from 1.3%. In fact, in line with expectations and the first estimate, CPI inflation in February came in at 1.2% on a yearly basis and thus deviated from the ECB target. Its level equaled in February with the reading of the base CPI, which, contrary to the market consensus, stabilized at the level of January 2018.

The lack of inflationary pressure is the main reason behind the ECB loose monetary policy. The yearly inflation target is set at 2.0% minimum, but despite the ECB actions, the inflation does not want to grow higher. The only months when inflation was close to this level was April and May 2017 (2.0% and 1.9%), but since then the average inflation reading was at the level of 1.5%. In the recent months, the inflation is continuing to slide from 1.5% towards 1.0% rather than increase to the ECB target.

Let's now take a look at the EUR/USD technical picture at the H4 time frame. The market has tested the technical support at the level of 1.2203 and slightly bounced back on, but not for long. The bears are pressuring the price to break through this level and drop further towards the level of 1.2165 or even 1.2092. The weak momentum indicator, which is still below its fifty level, supports the bearish outlook.

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Analysis of Gold for February 28, 2018

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Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,313.44 and reached both of our yesterday's targets. According to the 30M time – frame, I found a bearish flag (pennant) pattern in creation, which is a sign that buying looks risky. I also found a hidden bearish divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1,313.50 and at the price of $1,295.35.

Resistance levels:

R1: $1,332.32

R2: $1,346.20

R3: $1,355.62

Support levels:

S1: $1,309.02

S2: $1,299.58

S3: $1,285.75

Trading recommendations for today: watch for potential selling opportunities.

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Global macro overview for 28/02/2018

Jerome Powell did not say anything during his inaugural speech before the Congress that would undermine the growing confidence among the global investors that his term would be marked by a more decisive normalization of monetary policy. The base scenario for the market is not the expectation of a maximum of three but a minimum of three interest rates this year. With the current discount assuming the probability of a hike in March at the level of 96% and the increase in the cost of money in the year by around 80 bps, the key to the stronger Dollar should be the rhetoric accompanying the tightening and the perception of the target level for the rates. It is also important to believe in the strength of the economy and its resistance to the correction on Wall Street, which guarantees that the Fed will not deviate from the chosen course.

Let's now take a look at the US Dollar Index technical picture at the H4 time frame. The market has finally managed to broke out above the black trend line around the level of 90.11 after the Powell speech in US Congress. Currently, the bulls are trying to test the technical resistance at the level of 90.59 and possibly break higher towards the next resistance at the level of 90.98. The momentum is still above its fifty level and remains strong, pointing to the north. he nearest support for the price is seen at the level of 90.20.

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EUR/USD analysis for February 28, 2018

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Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.2198. According to the 1H time – frame, I found a bearish breakout of 3-day balance in the background, which is a sign that sellers are in control. I also found that the pair is trading inside of the downward channel, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2162 and at the price of 1.2050.

Resistance levels:

R1: 1.2315

R2: 1.2390

R3: 1.2438

Support levels:

S1: 1.2190

S2: 1.2142

S3: 1.2063

Trading recommendations for today: watch for potential selling opportunities.

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Daily analysis of USD/JPY for February 28, 2018

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The pair is bearish in the long term, but neutral in the short term. There are demand levels at 106.50, 106.00 and 105.50, which would impede bearish movements and they would eventually help bring about a bullish reversal. The outlook on JPY pairs remains bullish for this week, and the USD/JPY pair is no exception.

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When a breakout happens, it may be in favor of bulls, as price goes towards the supply levels at 107.00, 107.50 and 108.00. This is what can bring about a Bullish Confirmation Pattern in the 4-hour chart. A breakout to the downside will render this expectation invalid.

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Daily analysis of EUR/JPY for February 28, 2018

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On this cross pair, the southward journey has resumed (though the price did nothing significant at the beginning of the week), but the current Bearish Confirmation Pattern in the market has been upheld. The more price journeys southwards, the more the probability of a strong reversal in the market, which may overturn the current bearish bias.

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The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. There are supply zones at 131.00, 131.50 and 132.00, which would be breached to be upside, in case there is a strong bullish reversal in the market.

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Daily analysis of USD/CHF for February 28, 2018

USD/CHF has started moving upwards in a predictable manner, thus ending the short-term consolidation that was witnessed on Monday and Tuesday. The market is currently above the support level at 0.9400, going towards the resistance level at 0.9540, which would be breached to the upside, as another resistance level at 0.9500 is targeted.

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The EMA 11 is above the EMA 56, and the Williams' % Range period 20 is in the overbought region. This means the outlook on the market is now bullish, irrespective of occasional pullbacks in the market. There is a Bullish Confirmation Pattern in the 4-hour chart.

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Analysis of bitcoin for February 28, 2018

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The Bitcoin (BTC) has been trading downwards. As I expected, the price tested the level of $10,353. In less than five hours, Zclassic will fork to create bitcoin private, a new privacy-oriented coin that uses zk-snarks to obfuscate transactions. Holders of bitcoin and zclassic will both be eligible to receive bitcoin private (BTCP) on a 1:1 basis. There's just one problem: 93% of all zlcassic (ZCL) is on Bittrex exchange, which so far has provided no comments on whether it would support the fork. As the price of ZCL has dropped sharply, bagholders have expressed their anger at Bittrex' slowness to act. Technical picture on Bitcoin looks neutral to bearish.

Trading recommendations:

According to the 30M timeframe, I found that price failed to test upper diagonal of the channel, which is a sign that buyers lost power. I also found a hidden bearish divergence in the background and broken median line, which is a sign that sellers are in control. My advice is to watch for potential selling opportuntiies. The downward targets are set at the price of $10,360, $10,135 and at $9,980.

Support/Resistance

$10,800 – Intraday resistance

$10,362– Intraday support

$10,130 – Objective target 1

$9,980 – Objective target 2

With InstaForex you can earn on cryptocurrency's movements right now. Just open a deal in your MetaTrader4.

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Gold received a blow from the Fed

The quotations of gold futures fell to 2-week lows against the background of "hawkish" comments by Jerome Powell. Speaking before the Congress, the head of the Federal Reserve expressed confidence in the rapid achievement of inflation targeting, noted the strength of the world economy and a significant fiscal stimulus. In his view, the headwinds that took place in the past years, currently contribute to the dispersal of GDP. In particular, we are talking about the high demand for US exports, favorable financial conditions and the implementation of tax reform. Strong labor market allows you to count on increased investment.

Prior to the speech of Powell, investors believed that he would choose a cautious approach to monetary policy. After the accelerated growth of average wages and inflation, the futures market sharply slipped by a mark of three increases in the federal funds rate in 2018 and began to lay in the quotations of its instruments four acts of tightening monetary policy. Many expected that the chairman of the FRS will try to smooth this process and remind about the previous forecasts of the FOMC. This did not happen. On the contrary, Donald Trump's protege said that, in his personal opinion, compared with the December estimates, the outlook for GDP and inflation improved. The debt market reacted with the growth of bond yields, which triggered an avalanche of gold sales.

Dynamics of gold and yield of US bonds

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Source: Bloomberg.

Despite the growing risks of overclocking inflation, the rates of the US debt market are accelerating by leaps and bounds. As a result, the real yield also increases, which is a "bearish" factor for XAU / USD. And if in early 2018 investors preferred to ignore this factor, then the results of bond auctions returned their interest in the dollar. There is no panic about insufficient demand for US assets, and the inflow of capital will contribute to the correction of the USD index. Thus, the external background for precious metals begins to deteriorate, so do not be surprised that after an impressive start this year, its quotes are ready to plunge into the red zone.

Should the fans of gold throw a white flag? In my opinion, no. Most likely, the dollar's success will be temporary. Yes, interest in the Fed is back, but conditions change. If in 2015-2016 the Federal Reserve was the only issuing Central Bank G10, which planned to tighten monetary policy, in 2017 it had serious competitors. Among them is the ECB, to which hands are bound by inflation. Till. Overclocking the indicator in the second quarter will return the idea of normalizing monetary policy to the markets and will allow to restore the uptrend in EUR / USD. This will be a serious blow to the USD index and will return investors' demand for gold.

Technically, the breakthrough of the lower boundary of the short-term ascending trading channel increased the risks of implementing the target by 88.6% in the "Bat" pattern. A necessary condition for continuing the peak is a confident assault on the lower boundary of the long-term "bullish" trading channel.

Gold, daily chart

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Trading plan 02/28/2018

Trading plan 02/28/2018

The GBP / USD currency pair is preparing for growth.

The general picture: The first major event of the week passed. On February 27, the new head of the Federal Reserve, Powell, spoke in the US Congress.

The Fed is ready to raise the rate, at least 3 times + 0.25% in 2018. The main focus is on inflation in RFE (and this data will be released tomorrow, on Thursday, March 1, at 13:30 London time!)

The dollar strengthened on the Fed.

Today is the second event of the week. US GDP report (second reading for the 4th quarter) at 13:30 London time.

Pound: We expect the pound to rise in anticipation of a rate hike.

We buy a pound at a decrease from 1.3800 and lower, or after a breakout to the top 1.4150.

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Technical analysis of USD/CHF for February 28, 2018

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Overview:

  • The USD/CHF pair continues to move upwards from the level of 0.9382. Today, the first support level is currently seen at 0.9382, the price is moving in a bullish channel now. Furthermore, the price has been set above the strong support at the level of 0.9382. This support has been rejected three times confirming the veracity of an uptrend. According to the previous events, we expect the USD/CHF pair to trade between 0.9382 and 0.9471. So, the support is seen at 0.9382, while daily resistance is found at 0.9471. Therefore, the market is likely to show signs of a bullish trend around the spot of 0.9380. In other words, buy orders are recommended above the spot of 0.9380 with the first target at the level of 0.9471; and continue towards 0.9500. However, if the USD/CH pair fails to break through the resistance level of 0.9382 today, the market will decline further to 0.9297.
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Technical analysis of NZD/USD for February 28, 2018

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Overview:

  • The NZD/USD pair continues to move downwards from the level of 0.7336. Yesterday, the pair dropped from the level of 0.7336 to the bottom around 0.7230. Today, the first resistance level is seen at 0.7256 followed by 0.7336, while daily support 1 is found at 0.7200. Also, the level of 0.7200 represents a weekly pivot point for that it is acting as major resistance/support this week. Amid the previous events, the pair is still in a downtrend, because the NZD/USD pair is trading in a bearish trend from the new resistance line of 0.7256 towards the first support level at 0.7200 in order to test it. If the pair succeeds to pass through the level of 0.7200, the market will indicate a bearish opportunity below the level of 0.7200. Then, the pair will move downwards continuing the bearish trend development to the level 0.7145 in order to test the daily support1. However, if a breakout happens at the resistance level of 0.7336, then this scenario may be invalidated.
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Bitcoin analysis for 28/02/2018

The European Commission hosted a conference entitled "Cryptocurrencies - Opportunities and Risks", including the impact of cryptocurrencies on financial markets and problems arising in connection with Initial Coin Offers (ICO). The meeting was chaired by Valdis Dombrovskis, Vice-President of the Commission responsible for financial stability, financial services and the union of capital markets. The Commission's press release described the event as a place of organization, countries, central banks, scientists and entrepreneurs of the European Union to respond to the challenges of cryptocurrencies and the underlying Blockchain technology.

The conference was divided into three themes: cryptography and financial markets, investor protection and market integrity and ICO. After the end of the roundtable, Dombrovskis told the press that since Europe has such a small share in cryptocurrency trading, which he called a "global phenomenon", the next step is to discuss the same topics at the G20 level, reflecting the opinions of officials from the French and European Central Bank. He also told one journalist that he also did not exclude the possibility of speeding up regulation at EU level, pending future developments in the crypto world. He added that "Blockchain technology has strong promises for financial markets" and that steps should be taken not to hinder technological innovation. Dombrovskis reiterated the previous position of EU regulators on the risks involved in investing and trading in cryptocurrencies at the end of their roundtable debate, stating that "warnings about risks to consumers, investors must be clear in all jurisdictions."

The fintech action plan is to be presented by the European Commission at the beginning of March.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market is still in a local uptrend and now is testing the golden trend line from the downside again. Any violation of the level of $11,000 will open the road towards the level of $11,698 (local high) and then $11, 937 ( wave (b) high). Only a sustained breakout back below the technical support at the level of $9,170 would change the current outlook from bullish to bearish.

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Trading plan for 28/02/2018

The Asian session does not bring a change in the market balance of power. EUR/USD is close to 1.22. GBP/USD is at 1.39. Volatility on the market is low.The US Dollar remains strong after yesterday's Powell speech before the US Congress. Stock markets are reversing downwards: Wall Street is more than 1.0% down already, and SP500 futures are again under 2,750 points.

On Wednesday 28th of February, the event calendar is busy with the important news releases, so the global investors should keep an eye on PMI Manufacturing data from China, GfK Consumer Climate, Unemployment Rate and Unemployment Change data from Germany, French GDP, and Consumer Spending data, KOF Economic Barometer data from Switzerland, Consumer Price Index data from the Eurozone. During the US session, Canada will post Raw Materials Price Index data and the US will present GDP Second Release, GDP Price Index, Chicago Purchasing Manager Index and Pending Home Sales data.

USD/JPY analysis for 28/02/2018:

The biggest overnight price movement on the market is the strengthening of the yen, which moved 50 pips off the night highs as a consequence of the Bank of Japan decision to limit the purchase of Treasury bonds at the long end of the yield curve. Such a step should not be considered in terms of the announcement of abandoning the ultra-soft monetary policy, but it still triggered a market reaction. Just recently, the Bank of Japan Governor Kuroda reassured the global investors that the BoJ will maintain the ultra-loose monetary policy as the inflation is still well below the BoJ target of 2.0%.

Let's now take a look at the USD/JPY technical picture at the H4 time frame. The market bounced from the level of 106.41 and tried to rally towards the recent local high at the level of 107.90, but so far it made only a high at the level of 107.68. If bulls want to gain the control over this market, then they must break out above the technical resistance zone located between the levels of 108.10 - 108.43. Otherwise, the downtrend might continue or the market might start to consolidate in a horizontal zone.

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NZD/USD Intraday technical levels and trading recommendations for February 28, 2018

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Daily Outlook

In July 2017, an atypical Head and Shoulders pattern was expressed on the depicted chart which indicated upcoming bearish reversal.

As expected, the price level of 0.7050 failed to offer enough bullish support for the NZD/USD pair. That's why, further bearish decline was expected towards 0.6800 (Reversal pattern bearish target).

Evident signs of bullish recovery was expressed around the depicted low (0.6780). An inverted Head and Shoulders pattern was expressed around these price levels.

The price zone of 0.7140-0.7250 (prominent Supply-Zone) failed to pause the ongoing bullish momentum. Instead, a bullish breakout above 0.7250 was expressed on January 11.

That's why, a quick bullish movement was expected towards the depicted supply zone (0.7320-0.7390) where evident bearish rejection and a valid SELL entry were expected.

On February 2, a bearish engulfing daily candlestick was expressed off the price level of 0.7390. Moreover, a double-top reversal pattern was expressed around the price zone (0.7320-0.7390).

As expected, the price zone (0.7320-0.7390) stood as a significant supply zone for the NZD/USD pair. This allowed the current bearish decline to occur towards the price zone of 0.7230 - 0.7165 (neckline of the reversal pattern).

A bearish breakdown of 0.7300 (neckline) is needed to confirm the depicted reversal pattern. Bearish projection target would be located around 0.7050 and 0.7000.

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Intraday technical levels and trading recommendations for EUR/USD for February 28, 2018

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Monthly Outlook

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100-1.2200 (multiple previous bottoms set in July 2012 and June 2010). Hence, a long-term bearish target was projected toward 0.9450.

In March 2015, EUR/USD bears challenged the monthly demand level around 1.0500, which had been previously reached in August 1997.

In the longer term, the level of 0.9450 remains a projected target if any monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0500.

However, the EUR/USD pair has been trapped within the depicted consolidation range (1.0500-1.1450) until the current bullish breakout was executed above 1.1450 and recently above 1.2075.

Another bullish breakout above 1.2250 was expressed on the chart. This hinders the bearish momentum allowing bullish advancement to occur towards 1.2750 provided that the bullish breakout above the price level of 1.2250 remains defended by the bulls.

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Daily Outlook

In September, bearish target for the depicted Head and Shoulders pattern was projected towards 1.1350. However, the market failed to apply significant bearish pressure against the mentioned zone (1.1415-1.1520).

Instead, In November, evident bullish recovery was manifested around the price zone of 1.1520-1.1415.

This hindered further bearish decline which allowed the current bullish momentum to occur towards the price level of 1.2100 which failed to pause the ongoing bullish momentum as well.

Daily persistence above 1.2470-1.2500 was needed to confirm a recent bullish flag continuation pattern with projected targets around the price level of 1.2750. However, the EUR/USD bulls failed to fixate above 1.2470.

That's why, a recent bearish pullback is being expressed below the price level of 1.2450 thus expressing a double-top reversal pattern with projected target around 1.1990.

The current bearish pullback will probably extend towards 1.2070-1.1990 (reversal pattern projection targets) if bearish breakdown of the level of 1.2200 (the depicted uptrend line) is achieved on a daily basis.

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Ichimoku cloud indicator analysis of USDX for February 28, 2018

As we mentioned yesterday the Dollar bounced off the critical support area but price remains below the recent high at 90.60. Only a break above this level will confirm that a bigger bounce is in play for the Dollar index. The chances of this break out have increased dramatically.

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Red line - resistance trend line (broken)

Black rectangle - horizontal resistance

The Dollar index is in a bullish short-term trend as price is trading above the Kumo (cloud) and above both the tenkan- and kijun-sen indicators. Resistance is found at 90.60. Support is at 89.60-89.50.

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Blue line - resistance

On a daily basis the Dollar index is above both the tenkan- and kijun-sen indicators. Price is below the cloud and below the blue trend line resistance. Cloud resistance that bulls must overcome is at 91-91.70. This is strong daily resistance. A break above this area will be an important bullish signal. I'm bullish about the index as long as price is above 89.50.

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Ichimoku cloud indicator analysis of gold for February 28, 2018

Gold price broke below support yesterday after a wave of strength in the Dollar was the result of the new Fed chair's testominy. Gold is making lower lows and lower highs. Price got rejected at the cloud resistance but is still holding above $1,310-07 support area.

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Gold price is trading below the cloud resistance in the 4hour chart. Short-term trend is bearish as long as price is at below $1,337. Our most probable next target is now at the 61.8% Fibonacci retracement at $1,285. This is also the next important support. Resistance is at $1,325-26. This is the first obstacle bulls must overcome, but the most important one is at $1,337.

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Gold has reached the Ichimoku cloud in the daily chart as we expected, after the rejection at the tenkan-sen (Red line indicator). Gold is at important support. A daily close below the upper cloud boundary at $1,314 will most probably push price towards $1,300.The material has been provided by InstaForex Company - www.instaforex.com

Technical analysis of USD/JPY for February 28, 2018

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USD/JPY is under pressure. Under pressure. The pair has struck against its nearest key resistance at 107.60, and also remains under pressure below its declining 20-period and 50-period moving averages. The relative strength index is below its neutrality area at 50, and calls for a new drop. Last but not least, the process of lower highs and lows remains intact, which should confirm a bearish outlook, and call for a further decline to 106.75 and 106.35 in extension.

Alternatively, if the price moves in the opposite direction, a long position is recommended to be above 107.60 with a target of 107.90.

Chart Explanation: The black line shows the pivot point. The current price above the pivot point indicates a bullish position, while the price below the pivot point is a signal for a short position. The red lines show the support levels, and the green line indicates the resistance level. These levels can be used to enter and exit trades.

Strategy: SELL, stop loss at 107.60, take profit at 106.75.

Resistance levels: 107.90, 108.20, and 108.50

Support levels: 106.75, 106.35, and 106.

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Brent woke up appetite for risk

Thanks to an improving external background and unexpected growth of US stocks by 1.6 million barrels, by the end of the week by February 16, oil futures managed to close 8 out of the last 9 trading sessions in the green zone. Where are the fears that the extraction of black gold in the United States in 2019 will overtake a similar figure for Russia and come out on a clean first place? Why did the talk about the increase in drilling rigs from Baker Hughes go to the back burner? Traders say that they have not seen such a favorable macroeconomic background for a long time, which contributed to the rapid recovery of Brent and WTI.

Driven by oil, copper and other commodities, the S&P GSCI Index, tracking the dynamics of 24 assets, jumped nearly 6% since February 9. Its movement is closely correlated with the US and global stock markets, while raw materials are clearly undervalued compared to equity securities. So, oil prices are only 56% of their highest levels reached in 2008, and the cost of gold and oil is only 30% and 31%. All this is well understood by hedge funds, whose long positions for black gold are 16 times higher than short ones.

Dynamics of commodity and stock markets

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Source: Wall Street Journal.

While OPEC and American producers continue to pull the rope, the key factor is global demand. And investors are judging about its prospects for the dynamics of the S&P500 and other global stock indices. At the same time, the rapid recovery of the stock market testifies to the strong health of the global economy. And can it be otherwise, if the US GDP, without a fiscal stimulus, grows by leaps and bounds, and if we factor in the tax reform, then is it able to achieve growth at a permanent 3%?

Personally, I strongly doubt that the Fed is going to radically change its stance and abandon the idea of a gradual normalization of monetary policy. The central bank risks accelerating the selling of debt bonds, which will push the yield of 10-year US Treasury bonds significantly above 3% and thus provoke a correction of the S&P 500. Such development is seen to cause Donald Trump's discontent, who has repeatedly stressed that the success of the president's policy is reflected in the "bullish" trend of the stock market. Curiously, why should the proteges of the head of the White House cross his path?

References to the continuation of the course of monetary policy by Janet Yellen, in which the Fed must consider seven times before stopping (raise the federal funds rate), can weaken the US dollar. This, in turn, will have a favorable effect on oil prices. As constraints, expectations are for restoring an upward trend in US stocks and Britain's readiness for the first time in 14 years to become a net exporter of oil.

Technically continues the transformation of the "Shark" pattern in 5-0. Breakthrough of resistance at 78.6% and 88.6% of the wave of CD will open the "bulls" to the upward path. On the contrary, a return to support at $65 per barrel will increase the risks of correction.

Brent, daily chart

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BITCOIN Analysis for February 27, 2018

Bitcoin has been quite impulsive with bullish gains recently above the $10,000 price area, which is expected to push the price higher in the coming days. The market players are still lacking confidence in Bitcoin and seem to be quite indecisive. The hype of crypto market is currently fading away, whereas the gains of bitcoin has been quite stable. Most of market giants have already been realizing the stability of the crypto market, while the value of bitcoin has not been as drastic as expected. The bitcoin market lacks liquidity, but sustaining gains is a good sign of mature market structure. As of the current scenario, the price is expected to head towards the $12,000 price area in the coming days if the price remains above the$10,000 price area.

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