FFHB( 5584.KL) ENTER ABOVE 1.06 : TARGET 1.12/1.18

EXECUTIVE SUMMARY

FFHB is following long term uptrend. FFHB rebounded after taking support at 0.87 after a short term downtrend. It is having its resistance at 1.06. It is expected to breaks its resistance of 1.06 and move up to the target of 1.18. Looking at its previous trend, it is expected to go up to 1.12 in short term. It is technically strong counter supported by RSI, Bollinger bands and other technically indicators which are giving a strong signal of bullish trend ahead. Its a nice opportunity to buy above 1.06 and gain a considerable amount of net profit in contra. Free Trial Signals

Technical Justification

Looking at it technically FFHB took support at 0.87. It is following long term uptrend and is expected to continue its trend. It has recent given the breakout for double bottom indicating bullish trend in near future. Its near term support is at 1.00 followed by long term support at 0.87. It has its resistance at 1.06 as soon as it breaks this resistance it is expected to move up to our target price of 1.12/1.18 in contra.

FFHB is following uptrend and is increasing at a particular pace. It did not break its trend line and rebounded above it by taking support at 0.87, indicating bullishness in near future.

BOLLINGER BANDS

The price has touched the upper band. Both lower and upper bands are moving upward and hence indicating strong uptrend. FFHB is expected to increase till it is going along with the upper band.

MONIG AVERAGE CONVERSION DIVERSION (MACD)

Simple MACD has arose a bullish signal. The faster moving average curve has given cross-over to the slowest moving average curve from below strengthening bullish trend ahead.

RELATIVE STRENGTH INDEX

RSI is above 50 , currently at 67.369. Which indicated that the investors are buying the counter and hence it is expected the price would take the uptrend due to buying pressure.

TRADING VIEW

Trading should be calculative and done at correct levels. It is very important to make entry and exit at right level. An investor should always enter above the resistance level and should close his position as soon as the price has achieved the target or has hit the SL (stop loss). The entry level of FFHB is above 1.06 with SL of 1.00 and target price of 1.12/1.18.

EURUSD Edged Higher Bouncing Off and Crude Oil Jumped After the US Opening

EUR/USD 

EURUSD edged higher bouncing off of support near the 10-day moving average at 1.0950. The currency pair is likely to consolidate until the ECB meets and the markets are able to absorb the new information. This came following a worse than expected sentiment report. Resistance is seen near the February high at 1.1375. Momentum remains negative as the MACD index prints in the red with a downward sloping trajectory. The RSI turned higher with price action reflecting accelerating positive momentum, while printing a reading of 50, which is in the middle of the neutral range. 

GBP/USD

GBPUSD initially fell during the day on Monday, but turned back around to form a very positive candle. The hammer suggests that we are going to go higher, but the biggest problem that we have us going long of this market is not only is in a bit overextended at this point in time, but we do have quite a bit of noise just above. Because of this, we are going to simply sit on the sidelines in this particular market. While we do recognize the potential for a move higher, the reality is that it is going to be a very hard trade to hold onto.

AUD/USD

AUDUSD continued to break higher during the course of the day on Monday, testing the 0.75 level. If we can break above there, we should continue to go much higher, but quite frankly we are a bit overextended at this point so we will have to wait to see whether or not a pullback occurs that we can take advantage of as it would offer value in what is obviously a massive break out to the upside. We have no plans to sell at this point in time, and believe that the trend has turned around.

USD/JPY 

USDJPY fell just a little bit during the course of the session here on Monday, but we are still very much in the way of consolidation, so having said that it is probably best to sit on the sidelines when it comes to this market. Quite frankly, the easiest trade in this market is to buy above the 115 level, as it would show a significant breakout above resistance. At this point in time, that’s essentially what we are waiting for and as a result will be hesitant to get involved at this point in time.

GOLD

Gold market took a positive move for the beginning of the week and showed the potential of the buyers as the previous candle was a Doji and we were expecting the market to go down but the interest of the buyer lead the price of yellow metal to 1273 handle now looking at the chart we are waiting for the price to break the resistance and open a new range of profit booking.

Forecast

We need to wait for the price to break the 1273 handle and this can lead to 1293 levels where the lower side support can be placed at 1259.

CRUDE

Crude oil was already moving in a gap up pricing, after all day consolidation the prices again jumped after the US opening and broke the $ 37 handle this lead to the main change in the price and trend of the crude oil. Now we find the major resistance at $ 38.25 if the buyers lead the market then we have a wide range to cover at part of profit.

Forecast

Buying in oil after $ 38.50 can lead the price for $ 41.00 where on the lower end we can wait for the price of $ 35.00

Malaysia's central bank expected to hold for long-serving governor

Malaysia's central bank is expected to hold its key interest rate steady on Wednesday, a decision that comes as markets wait to see who will succeed the respected, long-serving governor.
All 11 economists in a Reuters poll expect Bank Negara Malaysia (BNM) to maintain the overnight policy rate at 3.25%, where it has stayed since July 2014.
They note that Malaysia had better-than-expected growth in the last quarter of 2015, and see no need to change the key rate at this point.
Wednesday's meeting will be the last for Governor Zeti Akhtar Aziz, who retires on April 30 after 16 years at the helm.

DAILY FOREX TECHNICAL ANALYSIS REPORT

GBPUSD

The GBP/USD pair which was initially falling on Tuesday found enough support at 1.50 level to turn the things around and formed a rather positive hammer in the end. What remains to be seen is the direction it takes from here. We are currently holding no hopes of spikes rather are focusing our time on identifying selling opportunities. In our opinion, a breakdown below Tuesdays candle can also be a selling opportunity.

EURUSD

The EUR/USD pair went a notch higher on Tuesday, shooting through the hammer candle formed on the previous day. Although the sky seems to be clear but we do see a storm coming. In other words, we are going to sit this one out. 1.10 level above is going to be our flag off level. On the flip side, if we break the bottom of the hammer on Monday, we might think about entering a short position. After 1.10 level, we might set our eyes on 1.14 level, but that depends on crossing the 1.10 level first.

AUDUSD

The AUD/USD pair formed a candle possessing hammer like characteristics following an encounter with a support level that allowed it to take a U-turn. Any break above the hammer is a bullish signal and indicates an upward momentum. However, in the opposite direction it might move to 0.71 level. Australian Unemployment data would be among the figures released that would be having an impact on this pair.

USDJPY

The USD/JPY pair took a bounce on Tuesday. However, we still haven't escaped the previous consolidation area; hence we are not sure how long this bounce will go in upward direction. The markets as always are in full oscillations, hence we are looking for some decent pull back that might give a significant profit. Apart from this, there is resistance zone extending from 124 level to 125 level.

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