Market news and trade recommendations by FBS

[riki143]

USD/JPY: DOLLAR FELL INTO NEGATIVE ZONE
09:33 21.07.2017

Technical levels: support – 111.70/80; resistance – 112.60, 113.00.

Trade recommendations:

Buy — 111.90; SL — 111.70; TP1 — 113.00; TP2 — 113.30.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen and the lines are horizontal; the market is on the strong support of the daily levels.

More:
https://fbs.com/analytics/articles/usd_jpy:_dollar_fell_into_negative_zone_2384

 

[riki143]

USD/CAD: THE FIGHT OF BEARS AND BULLS
09:41 21.07.2017

Recommendation:

SELL 1,264 SL 1,2585 TP 1,274.

On the daily chart, USD/CAD reached 88.6% target of a “Shark” pattern. As a result, the possibility of corrective movement towards 23.6%, 50% and 61.8% of the wave CD increased. The following recoil from the important resistance levels should be used for entering short positions within the current bearish trend.

On H1, bears’ strengths are diminishing. This can be seen from the angle of the downtrend. The break of resistance at 1.2635-1.2640 will allow bulls to start an attack

More:
https://fbs.com/analytics/articles/usd_cad:_the_fight_of_bears_and_bulls_2385

 

[riki143]

AUD/USD IS PLAYING HIDE-AND-SEEK
09:49 21.07.2017

Recommendation:

BUY 0.7840, SL 0.7785, TP1 0.7990, TP2 0.8050

BUY 0.7805 SL 0.775 TP1 0.7990 TP2 0.8050

On the daily chart, AUD/USD is undergoing a correction to the uptrend. Bears are trying to return the pair to the inside of the uptrend channel. At the same time, bulls remain in control, so there’s a reason to use the pullbacks to the downside for opening long positions.

On H1, AUD/USD broke the lower border of an uptrend and triggered the “Bat” pattern. Its target is at 88.6% of XA wave. It allows determining an important support.

More:
https://fbs.com/analytics/articles/aud_usd_is_playing_hide_and_seek_2386

 

[riki143]

EUR/USD: "FLAG" PATTERN HAS BEEN BROKEN
10:53 21.07.2017

The last "Flag" pattern has been broken, so bulls faced resistance at 1.1679. Nevertheless, the market is likely going to reach the next resistance at 1.1712 in the coming hours. If a pullback from this level happens, there'll be an opportunity to have a decline towards the nearest support at 1.1615.

Bulls went through the upper side of the last "Pennant" pattern. It's likely that we're going to see the price even higher. The main intraday target is the next resistance at 1.1712, which could be a departure point for a downward correction.

More:
https://fbs.com/analytics/articles/eur_usd:_"flag"_pattern_has_been_broken_2390

 

[riki143]

GBP/USD: "PENNANT" PUSHED PRICE HIGHER
10:56 21.07.2017

The price faced support at 1.2926, so there's a "Thorn" pattern. In this case, the pair is likely going to reach the nearest resistance at 1.3032 - 1.3047. If a pullback from this area happens, bears will probably try to deliver a downward correction.

The last "Pennant" pattern led to another upward price movement. The main intraday target is the closest resistance area at 1.3032 - 1.3047. However, if we see a pullback from these levels, there'll be an option to have a decline in the direction of the nearest support at 1.2952.

More:
https://fbs.com/analytics/articles/gbp_usd:_"pennant"_pushed_price_higher_2391

 

[riki143]

EUR/USD: BULLISH "THREE METHODS"
14:44 21.07.2017

There's a bullish "Three Methods", but this pattern hasn't been confirmed yet. Nevertheless, the price is likely going to continue moving up until any bearish pattern arrives. If so, we could have a local downward correction.

We've got a bearish "Engulfing", so the market is likely going to test the nearest support level. Anyway, bulls will probably try to deliver a new local high afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_bullish_"three_methods"_2392

 

[riki143]

USD/JPY: "HIGH WAVE" AND "TWEEZERS"
14:48 21.07.2017

The upper "Window" acted as resistance, so there's a bearish "Harami", which has been confirmed. In this case, the pair is likely going to decline in the direction of the closest support.

The 34 Moving Average acted as resistance, so there are bearish patterns such a "High Wave" and a "Tweezers". Also, we've got a "Three Methods" pattern. Under this circumstance, the price is likely going to test the lower "Window" soon.

More:
https://fbs.com/analytics/articles/usd_jpy:_"high_wave"_and_"tweezers"_2393

 

[riki143]

EUR/USD: PRICE IS FORMING WAVE [V] OF 3
14:51 21.07.2017

The main wave count has been changed. It seems like there's a developing flat pattern in wave . Therefore, we've got an upward impulse in wave (C), which is taking place on the Daily chart. Wave 3 is likely about to end, so we could have Wave 4 of (C) soon.

The price is forming wave [v] of 3. We've got a pullback from 7/8 MM Level, so wave (iii) may have been ended. In this case, we should keep an eye on 6/8 MM Level as the nearest target for wave (iv) of [v].

More:
https://fbs.com/analytics/articles/eur_usd:_price_is_forming_wave_[v]_of_3_2394

 

[fx.web.tr]

EUR/USD reached fresh highs during the American session. The pair rebounded from 1.1630 and slowly climbed to 1.1682, setting a new 2017 high. It remains near the top, consolidating important weekly gains and headed toward the highest daily close since January 2015

S3 1.1341
S2 1.1410
S1 1.1521
R1 1.1700
R2 1.1769
R3 1.1879

 

[fx.web.tr]

GBP/USD: POUND MAY GO HIGHER
09:32 21.07.2017

Technical levels: support – 1.2980; resistance – 1.3040.

Trade recommendations:

Buy — 1.3000; SL — 1.2980; TP1 — 1.3040; TP2 — 1.3090.
Reason: bullish Ichimoku Cloud with rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are supported by Senkou Span A.

More:
https://fbs.com/analytics/articles/gbp_usd:_pound_may_go_higher_2383

S3 S2 S1 R1 R2 R3
1.2822 1.2878 1.2923 1.3025 1.3080 1.3126

 

[riki143]

USD/CHF FIBONACCI ANALYSIS: 0.9940 AS A KEY LEVEL FOR BUYERS
00:12 24.07.2017

There is a strong bearish bias in the USD/CHF and it has been forming a channel since mid-July. Now, the target is placed in the Fibonacci expansion levels of 100% and 123.6%, which corresponds to the 0.9941 and 0.9399 levels respectively. Such forecast is strengthened by the RSI indicator that shows oversold conditions.

Around that Fibonacci’s area, the pair could start to rebound in three of five waves, towards the 200 SMA at H1 chart around 0.9580.

More:
https://fbs.com/analytics/articles/usd_chf_fibonacci_analysis:_0.9940_as_a_key_level_for_buyers_2403

 

[riki143]

EUR/USD: EURO APPROACHED THE WEDGE
10:38 24.07.2017

Recommendation:

BUY 1.1580

SL 1.1525

TP 1.1715, TP2 1.1780

On the daily chart, EUR/USD has come close to the highest level since August 2015 and the interim 127. 2% target of the inverted “Crab” pattern. If the pair returns to 1.1714, it will form the “Widening wedge”. Traders should wait until the wave 4-5 finishes and use the following pullbacks towards 23.6%, 38.2% and 50% for opening long positions.

More:
https://fbs.com/analytics/articles/eur_usd:_euro_approached_the_wedge_2409

 

[riki143]

EUR/JPY: BEARS TRY TO REGAIN POWER
10:48 24.07.2017

Recommendations:

BUY 130.50 SL 129.95 TP 131.50

BUY 127 SL 126.45 TP1 128.5 TP2 129.6 TP3 130.50

On the daily chart, bears are trying to counter attack and realize the 1-2-3 pattern. The break of support at 128.50 will increase the risks of correction to the current uptrend. For now, its potential remains limited. The nearest support levels are at 127.75 and 127.00.

On H1, EUR/JPY realized “Spike and ledge” and 1-2-3 patterns. A successful test of resistance at 130.50 will create the potential for the uptrend’s resumption. On the contrary, break of support at 128.50 will trigger the “Bat” pattern.

More:
https://fbs.com/analytics/articles/eur_jpy:_bears_try_to_regain_power_2410

 

[riki143]

EUR/USD: BULLS GOING TEST NEXT RESISTANCE
11:19 24.07.2017

The price is consolidating under resistance at 1.1679. However, bulls are likely going to test the next resistance at 1.1712. If we have a pullback from this level, there'll be an opportunity to have a downward correction towards the nearest support at 1.1615.

Bulls faced resistance at 1.1679, which pushed the price lower. So, we should keep an eye on the closest support at 1.1654 as an intraday bearish target. Nevertheless, the market is likely going to reach another resistance at 1.1712 afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_bulls_going_test_next_resistance_2412

 

[riki143]

GBP/USD: BEARISH "THORN" PATTERN
11:21 24.07.2017

There's a consolidation, which is taking place near the 55 Moving Average. The main intraday target is the nearest resistance at 1.3057 - 1.3077. If a pullback from this area happens, there'll be an opportunity to have a decline towards support at 1.3006 - 1.2982.

We've got a bearish "Thorn" pattern, so the pair is likely going to test the 89 Moving Average. However, if a pullback from this line happens, bulls will have a green light to achieve the next resistance at 1.3057 - 1.3047.

More:
https://fbs.com/analytics/articles/gbp_usd:_bearish_"thorn"_pattern_2413

 

[riki143]

EUR/USD: PULLBACK FROM 7/8 MM LEVEL
11:50 24.07.2017

There's a pullback from 7/8 MM Level, so the price is declining in wave (iv). However, if 6/8 MM Level acts as support afterwards, there'll be an opportunity to have another bullish impulse in wave (v) of [v].

As we can see on the one-hour chart, wave (iv) is probably taking the form of a flat pattern. The main intraday target is 6/8 MM Level. If we see a pullback from this level, bulls are likely going to deliver wave (v). In this case, we should keep in mind 8/8 MM Level as the next target.

More:
https://fbs.com/analytics/articles/eur_usd:_pullback_from_7_8_mm_level_2414

 

[riki143]

EUR/USD: BEARISH "SHOOTING STAR" PATTERN
13:55 24.07.2017

The bullish trend is still on the table, but we've got a bearish "Shooting Star" pattern, which hasn't been confirmed yet. Therefore, the market is likely going to test the nearest support level, which could be a departure point for another upward price movement.

There are bullish patterns such an "Engulfing" and a "High Wave", but their confirmation is a quite weak. So, bears are likely going to test the 89 Moving Average. If a pullback from this line happens, there'll be an opportunity to have a bullish correction.

More:
https://fbs.com/analytics/articles/eur_usd:_bearish_"shooting_star"_pattern_2420

 

[riki143]

USD/JPY: "HARAMI" LED TO DECLINE
14:01 24.07.2017

The price has been declining since a "Harami" pattern formed. Also, there isn't any reversal pattern so far, which means bears are likely going to test the next support level in the short term. If any reversal pattern arrives afterwards, bulls will probably try to deliver an upward correction.

The last bearish "Shooting Star" pattern led to the current decline. However, we've got a bullish "Doji", but this pattern hasn't been confirmed yet. So, we could have just an upward correction and a decline afterwards.

More:
https://fbs.com/analytics/articles/usd_jpy:__"harami"_led_to_decline_2421

 

[riki143]

GBP/USD WITH POSSIBLE BULLISH MOMENTUM ABOVE 1.2920
01:04 25.07.2017

GBP/USD is now finding support around a key Fibonacci zone between the 50% and 65% levels. Such area, established in the 1.2967 and 1.2920 levels could bring a fresh momentum for the bulls and if the pair manages to break above 1.3050, it can confirm the bullish scenario and rallies could go as long as 1.3198, at which is located the -23.6% Fibonacci retracement level.

RSI indicator still supports the bullish path, as it remains in the positive territory.

More:
https://fbs.com/analytics/articles/gbp_usd_with_possible_bullish_momentum_above_1.2920_2435

 

[riki143]

GBP/USD: BULLS SUPPORTED BY CLOUD
07:40 25.07.2017

Technical levels: support – 1.3000; resistance – 1.3060.

Trade recommendations:

Buy — 1.3020/30; SL — 1.3000; TP1 — 1.3100; TP2 — 1.3130.
Reason: bullish Ichimoku Cloud with rising Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the prices are on the support of the Cloud and Tenkan-sen.

More:
https://fbs.com/analytics/articles/gbp_usd:_bulls_supported_by_cloud_2439