USD/CHF Daily Analytics
07:30 07.02.2018
Recommendations:

BUY 0.9395 SL 0.934 TP1 0.948 TP2 0.96

SELL 0.929 SL 0.9345 TP1 0.919 TP2 0.905

On the daily chart, USD/CHF reached the interim target at 113% of the “Crab” pattern: bulls are trying to counterattack. To develop correction, they need to overcome resistance at 0.9410 and 0.9485-0.9505.



On H1, a break of the upper border of the 0.929-0.9395 consolidation range will increase the odds of its getting to 88.6% of the inverted “Shark” pattern. On the other hand, a decline below the support at 0.9290 will lead to the resumption of the downtrend.



More:
[URL=https://fbs.com/analytics/articles/usd-chf-has-little-space-in-the-corridor-6683]https://fbs.com/analytics/articles/usd-chf-has-little-space-in-the-corridor-6683[/URL]

GBP/USD Daily Analytics
08:26 07.02.2018
Recommendation:

BUY 1.4005

SL 1.3950

TP1 1.4105 TP2 1.425 TP3 1.46

On the daily chart, GBP/USD bull managed to defend support at 1.3830-1.3835. As a result, the pair formed a pinbar. A successful test of its high will allow the pound to count on the uptrend’s resumption.



On H1, GBP/USD keeps forming 1-2-3 and “Spike with reversal and acceleration”. To break the uptrend, bears need to pull the pair out of the trading channel and reach 88.6% target of the “Bat”. The odds of this scenario are not high.



More:
[URL=https://fbs.com/analytics/articles/gbp-usd-is-welcoming-a-pinbar-6685]https://fbs.com/analytics/articles/gbp-usd-is-welcoming-a-pinbar-6685[/URL]

GBP/USD IS WELCOMING A PINBAR
08:26 07.02.2018

Recommendation:

BUY 1.4005

SL 1.3950

TP1 1.4105 TP2 1.425 TP3 1.46

On the daily chart, GBP/USD bull managed to defend support at 1.3830-1.3835. As a result, the pair formed a pinbar. A successful test of its high will allow the pound to count on the uptrend’s resumption.



On H1, GBP/USD keeps forming 1-2-3 and “Spike with reversal and acceleration”. To break the uptrend, bears need to pull the pair out of the trading channel and reach 88.6% target of the “Bat”. The odds of this scenario are not high.



More:
[url]https://goo.gl/597Nk5[/url]

USD/CHF HAS LITTLE SPACE IN THE CORRIDOR
07:30 07.02.2018

Recommendations:

BUY 0.9395 SL 0.934 TP1 0.948 TP2 0.96

SELL 0.929 SL 0.9345 TP1 0.919 TP2 0.905

On the daily chart, USD/CHF reached the interim target at 113% of the “Crab” pattern: bulls are trying to counterattack. To develop correction, they need to overcome resistance at 0.9410 and 0.9485-0.9505.



On H1, a break of the upper border of the 0.929-0.9395 consolidation range will increase the odds of its getting to 88.6% of the inverted “Shark” pattern. On the other hand, a decline below the support at 0.9290 will lead to the resumption of the downtrend.



More:
[url]https://goo.gl/cbCuwf[/url]

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WILL BITCOIN STOP FALLING?
13:40 07.02.2018
On Tuesday, Bitcoin traded below $6000, the lowest price since November 2017, however, soon it changed the direction and increased in 23% in a day. It seems like it is not going to stop plunging.

What caused such fall? Will it stop?

Analysts give several reasons for such dramatic drop of the cryptocurrency.

Experts see the main reason for speculations on the Bitcoin futures market. After Bitcoin futures trading began on CBOE exchange in Chicago, the price of Bitcoin increased immediately. The price was rising until investors did not stop purchasing futures. When cryptoinvestors saw the slowdown in Bitcoin’s price, they started to reduce their positions, it led to the cut of the market capitalization.

Also, experts suppose that the opportunity to play in the fall of cryptocurrency led to a huge number of sellers on the market and collapse in prices.

Volatility is the next factor. Cryptocurrencies are naturally volatile. However, additional attention from the US and Asian regulators makes them even more so. For example, the most recent leg down happened because of the news from Bloomberg. The agency reported that two US controlling companies are going to ask the Congress to consider federal supervision for digital-currency trading platforms.



Nowadays, more and more countries talk about tightening policy, trying to restrict cryptocurrency activity. For example, China has already banned ICOs and domestic exchange, soon the country is going to block users from accessing websites with cryptocurrency trading services or ICOs.

Huge hacks harmed reliability of Bitcoin as well. Cryptocurrency exchange Coincheck, one of Japan’s largest cryptocurrency exchanges, lost about $500 million worth of digital coins in January.

Looking at reasons above, we can say that the fall of Bitcoin was caused by speculations around it. The reliability of the cryptocurrency is damaged on purpose, that is why the Bitcoin is falling.

So what about the future of Bitcoin?

As usual, there are two opposite views. Can you guess which?

There is an unusual theory that well-known cryptocurrencies will be replaced by national cryptocurrencies. The founder of Universa Blockchain Alexandr Borodich said in Davos that governments are highly interested in launching their own cryptocurrencies. They will be secured by commodities.

It is a possible scenario because as we can see now, governments are trying to control cryptocurrency market and mining more and more. New restrictions crash the market and it is supposed to be done on purpose.

However, despite doubts about the future of Bitcoin, most experts are sure that it will exist and will be widely used.

First of all, blockchain will be used worldwide in the near future. So Bitcoin will be used within it.

Secondly, there are demand and supply still. People continue to buy Bitcoin, despite its fall. A conception of FOMO - fear of missing out - works here. Mostly, people regret that they did not invest in Bitcoin before, so they will do it no matter what.

The third reason is that Bitcoin is supposed to have a good store value, said Ran Neu Ner, ONchain Capital founder. He supposes that Bitcoin has a future as the digital gold that is more convenient to use than real gold.

All these factors are anticipated to support Bitcoin.

So what about the price forecast?

There is an interesting opinion that the price of Bitcoin will fix at $5000. The explanation is simple: $5000 is a cost of mining. This amount of money is enough for a miner to produce tokens and get profit. Later the price will rise because of the increase in the mining cost. When all tokens are produced, the price will depend on the role of Bitcoin in the blockchain.

Someone is even over-optimistic about Bitcoin. For example, Mr. McAfee (the founder of the software company McAfee.Inc) said that he will eat his own man meat if one bitcoin isn’t priced at $1 million by 2020.

However, if we look at the situation more rationally, it is more likely that Bitcoin will be at the level of $10000 – the half of its greatest price, that was increased speculative.

To sum up, it is quite difficult to predict the future of Bitcoin now because it is highly volatile. As Bitcoin has declined with such an incredible speed, it will not be a surprise, if it starts rising fast in one week. We can see that nowadays cryptocurrency market is highly speculated. It seems like the speculative news is created with a purpose to crash Bitcoin. However, most of the experts forecast the positive future of Bitcoin.

More:
[URL=https://fbs.com/analytics/articles/will-bitcoin-stop-falling-6693]https://fbs.com/analytics/articles/will-bitcoin-stop-falling-6693[/URL]

SUPER THURSDAY
15:19 07.02.2018
On Thursday, February 8, the Bank of England will release a huge amount of data. BOE inflation report, MPC official bank rate votes, monetary policy summary and official bank rate will be delivered tomorrow at 14:00 MT time.

In the end of January Cable achieved its highest level since the Brexit vote. Sterling has jumped 4.5% this year against the US dollar. Such increase was supported by the optimism over Brexit talks and the UK prices growth.



However, now we can see the decline of the pound because Brexit still causes many problems and analysts still think that it will hurt Britain. So what will the central bank do in such situation?

Some predictions

Despite the fact that Britain’s economy is recovering after the financial crisis, showing good figures, analysts suppose that the BOE will hold interest rates unchanged because figures are still not incredible compared to other strong economies and there are doubts about the Brexit.

However, most of the experts forecast two interest rates hikes this year because of the recent upbeat speech of the BOE Governor Mr. Carney. He claimed that the wage growth is increasing and the focus of the central bank policy is returning to fight above-target inflation.

So, for example, Fabrice Montagne, head UK economist at Barclays said that they consider upbeat talks this Thursday because of positive data of the UK economy, however, they see the next hike in November 2018.

Bank of America Merrill Lynch sees the hike in May or August, but they do not expect any comments from the BOE now.

Citi expects a hike in August 2018. They predict new forecasts with stronger growth and higher inflation rates, however, the Bank more likely will be careful because of the Brexit deal.

The EY ITEM Club forecasts two hikes this year: from 0.5% to 0.75% in May and from 0.75% to 1% in November.

Making a conclusion, we can say that the BOE is more likely will not change the interest rates this time, but experts predict soon hikes later this year. However, the situation will depend on a deal between the UK and the EU, that creates a volatility of the pound and affects the UK economic growth.

More:
[URL=https://fbs.com/analytics/articles/super-thursday-6694]https://fbs.com/analytics/articles/super-thursday-6694[/URL]