Market news and trade recommendations by FBS

[riki143]

AUD/USD IS AIMING HIGH
12:19 27.07.2017

Recommendation:

BUY 0.8015, SL 0.7960, TP1 0.8100 TP2 0.8200

BUY 0.7965 SL 0.7910 TP1 0.8100 TP2 0.8200

On the daily chart, AUD/USD returned to the uptrend after the consolidation. The pair keeps aiming to 0.8200. As long as it’s trading above 0.7965, bulls are in no danger. The main strategy is to buy Aussie on the pullbacks to the downside.

On H1, AUD/USD has made the “Spike and Ledge” pattern on the basis of 1-2-3. The pair aims for the 200%target of AB=CD. The nearest support levels are at 0.8015 and 0.7965.

More:
https://fbs.com/analytics/articles/aud_usd_is_aiming_high_2533

 

[riki143]

EUR/USD: "SHOOTING STAR" AND "ENGULFING"
15:43 27.07.2017

We've got bearish patterns such a "Shooting Star" and an "Engulfing", which both have been confirmed enough. So, the market is likely going to test the nearest support by the middle of the last white candle.

There are a "Shooting Star" and a "Harami". Considering confirmation of these patterns, bears are likely going to reach the Moving Averages. If a pullback from these lines happens, we could have another upward price movement.

More:
https://fbs.com/analytics/articles/eur_usd:_"shooting_star"_and_"engulfing"_2540

 

[riki143]

USD/JPY: BEARISH "ENGULFING"
15:45 27.07.2017

The 55 Moving Average has acted as resistance, so there's a bearish "Engulfing". However, we also have a bullish "Doji", so there's time for a local upward correction. Anyway, bears are likely going to test the last low in the short term.

The price has reached the 34 MA, but we don't have any reversal pattern so far. Therefore, bulls are likely going to test the middle of the black candle's group during the day. If any bearish pattern arrives afterwards, there'll be an opportunity to have another decline.

More:
https://fbs.com/analytics/articles/usd_jpy:__bearish_"engulfing"_2541

 

[riki143]

EUR/USD: +1/8 MM LEVEL ACTED AS RESISTANCE
19:13 27.07.2017

We've got a pullback from +2/8 MM Level, so wave [v] of 3 may have been ended. So, there's a developing impulse in wave . However, if a pullback from 5/8 MM Level happens, there'll be an opportunity to have a local upward correction.

+1/8 MM Level acted as resistance, so the price is declining in wave [a]. The main intraday target is 4/8 MM Level. Therefore, the low of wave (iv) of [v] is likely going to be broken soon.

More:
https://fbs.com/analytics/articles/eur_usd:_+1_8_mm_level_acted_as_resistance_2542

 

[riki143]

AUD/USD: AUSSIE READY TO CONTINUE UPTREND
09:10 28.07.2017

Technical levels: support – 0.7970, 7930; resistance – 0.8020, 0.8080.

Trade recommendations:

Buy — 0.7970; SL — 0.7950; TP1 — 0.8020; TP2 — 0.8080.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; the prices are on the support of Tenkan-sen and Kijun-sen.

More:
https://fbs.com/analytics/articles/aud_usd:_aussie_ready_to_continue_uptrend_2553

 

[riki143]

USD/JPY: DOLLAR MAY GOING LOWER
09:11 28.07.2017

Technical levels: support – 110.70/80; resistance – 111.20.

Trade recommendations:

Sell — 111.00; SL — 111.20; TP1 — 110.45; TP2 — 109.80.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen and the lines are horizontal; the prices are under Tenkan-sen and Kujin-sen and ready to go to new lows.

More:
https://fbs.com/analytics/articles/usd_jpy:_dollar_may_going_lower_2554

 

[riki143]

EUR/USD: "V-TOP" PATTERN
10:14 28.07.2017

We've got a "V-Top" pattern, so the price reached the nearest support at 1.1657. However, bears are likely going to test the 34 Moving Average in the short term. If a pullback from this line happens, there'll be an opportunity to have another upward price movement in the direction of the closest resistance at 1.1712 - 1.1757.

The price is consolidating near the 55 Moving Average. Also, there's a "Pennant" pattern, so the pair is likely going to decline in the direction of the 89 MA. If we have a pullback from this line, bulls will have a green light to achieve resistance at 1.1712 - 1.1757.

More:
https://fbs.com/analytics/articles/eur_usd:_"v_top"_pattern_2556

 

[riki143]

GBP/USD: BEARISH "PENNANT" PATTERN
10:16 28.07.2017

Bulls faced resistance at 1.3137, so there's a "Double Top" pattern, which pushed the price to support at 1.3057. It's likely that bears are going to reach another support at 1.3029 in the short term. Meanwhile, if a pullback from this level arrives afterwards, there'll be an option to have an upward price movement in the direction of the nearest resistance at 1.3158 - 1.3184.

The price is consolidating above support at 1.3057. At the same time, there's a "Pennant" pattern, so the market is likely going to achieve the next support 1.3029 during the day. If a pullback from this level happens, we should keep an eye on the next resistance as an intraday target.

More:
https://fbs.com/analytics/articles/gbp_usd:_bearish_"pennant"_pattern_2557

 

[riki143]

EUR/USD: BEARS GOING TO MOVE ON
10:28 28.07.2017

We've got bearish patterns such a "Shooting Star", a "Three Black Crows" and an "Engulfing", which all have been confirmed enough. So, bears are likely going to continue pushing the price lower, which means we could have a new local low soon.

There's a confirmed bullish "Harami" on the 55 Moving Average. Therefore, the price is likely going to test the nearest resistance level, which could be a departure point for another decline.

More:
https://fbs.com/analytics/articles/eur_usd:_bears_going_to_move_on_2559

 

[riki143]

USD/JPY: PRICE REACHED LOWER "WINDOW"
10:30 28.07.2017

The middle of the last black candle has acted as resistance, so we've got a "Shooting Star" pattern. However, we could have a local upward correction in the short term. Nevertheless, bears are likely going to deliver a new local low afterwards.

The price reached the lower "Window", but there isn't any reversal pattern so far. In this case, we could have just a local bullish correction. Anyway, it's likely that the market is going to continue declining until any bullish pattern forms.

More:
https://fbs.com/analytics/articles/usd_jpy:__price_reached_lower_"window"_2560

 

[riki143]

EUR/USD: EURO GATHERS STRENGTH
09:20 31.07.2017

Technical levels: support – 1.1700; resistance – 1.1830.

Trade recommendations:

Buy — 1.1700; SL — 1.1680; TP1 — 1.1780; TP2 – 1.1830.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen with horizontal Tenkan-sen and Kijun-sen; the market is in consolidation on Tenkan-sen and Kijun-sen.

More:
https://fbs.com/analytics/articles/eur_usd:_euro_gathers_strength_2572

 

[riki143]

AUD/USD: BULLS TEMPORARILY QUIETED DOWN
09:21 31.07.2017

Technical levels: support – 0.7970, 7930; resistance – 0.8020, 0.8080.

Trade recommendations:

Buy — 0.7970; SL — 0.7950; TP1 — 0.8020; TP2 — 0.8080.
Reason: bullish Ichimoku Cloud, but falling Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the prices are on the support of Tenkan-sen and Kijun-sen and the Cloud.

More:
https://fbs.com/analytics/articles/aud_usd:_bulls_temporarily_quieted_down_2573

 

[riki143]

EUR/USD: CONFIRMED "TRIPE TOP"
09:49 31.07.2017

Bulls faced resistance at 1.1757, so the price is consolidating. Therefore, we should keep an eye on the nearest support at 1.1679 as an intraday target. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1776 - 1.1801.

The price is consolidating under resistance at 1.1757. Also, there's a "Tripe Top" pattern, which has been confirmed. So, bears are likely going to test the 55 & 89 Moving Averages. Meanwhile, if we have a pullback from these lines, bulls will probably try to achieve another resistance at 1.1776 - 1.1801.

More:
https://fbs.com/analytics/articles/eur_usd:_confirmed_"tripe_top"_2577

 

[riki143]

GBP/USD: "V-TOP" PATTERN
09:51 31.07.2017

The price faced resistance at 1.3158, so we've got a "V-Top" pattern, which pushed the pair to support at 1.3116. In this case, bears are likely going to test the next support at 1.3083 during the day. If a pullback from this level happens, there'll be an option to have a new local high.

More:
https://fbs.com/analytics/articles/gbp_usd:_"v_top"_pattern_2578

 

[riki143]

GBP/USD: THE RISK OF REVERSAL
09:55 31.07.2017
Recommendations:

SELL 1.3060, SL 1.3115, TP 1.2950

BUY 1.3160, SL 1.3105, TP 1.3260

On the daily chart, bears are trying to return GBP/USD inside the previous consolidation range of 1.2930-1.3120. If the pair comes down to its middle, the reversal “Spike and ledge” pattern will be formed. On the other hand, an increase to June high will make GBP/USD continue rising to 200% target of AB=CD pattern.

On H1, the Double Top in the area of the third Indian of the “Three Indians” pattern is a strong reversal sign. The break below support at 1.3060 and 1.3000 will lead to a correction.

More:
https://fbs.com/analytics/articles/gbp_usd:_the_risk_of_reversal_2579

 

[riki143]

USD/CHF: FRANC IS RIDING THE WAVES
10:08 31.07.2017

Recommendation:

BUY 0.9720, SL 0.9665, TP1 0.9860, TP2 0.9890

On the daily chart, USD/CHF has reached the targets of “Wolfe waves” pattern. Thanks to it, the pair left the medium-term bearish channel. If the pair rises to July high, there may be a correction towards the upper border of the descending trend.

On H1, USD/CHF formed a “Dragon” pattern. At the moment, it’s forming the “Head of a dragon” or consolidating in the 0.9660-0.9720 area. The break of the upper border will increase the risks of a rally.

More:
https://fbs.com/analytics/articles/usd_chf:_franc_is_riding_the_waves_2581

 

[riki143]

EUR/USD: "ENGULFING" AND "TWEEZERS"
16:34 31.07.2017

There are bearish patterns such a "Shooting Star, an "Engulfing" and a "Tweezers". However, confirmation of these patterns isn't enough, so we could have just a local downwards correction. If a pullback from the nearest support happens, there'll be an opportunity to have another upward price movement.

There's a "Hanging Man" at the last high, which has been confirmed enough. So, bears are likely going to test the 55 Moving Average, which could be a departure point for another bullish rally.

More:
https://fbs.com/analytics/articles/eur_usd%3a_%22engulfing%22_and_%22tweezers%22_2595

 

[riki143]

USD/JPY: "HARAMI" PATTERN
16:38 31.07.2017

We've got a "Harami" pattern, which just has been formed. Therefore, there's an opportunity to have a local upward correction, but bears will probably try to deliver a new local low afterwards.

There's a "Shooting Star", which has confirmation. In this case, the 34 Moving Average is likely going to act as support. If we see a pullback from this line, there'll be an opportunity to have another decline in the direction of the lower "Window".

More:
https://fbs.com/analytics/articles/usd_jpy:__"harami"_pattern_2596

 

[riki143]

EUR/USD: BEARISH IMPULSE IN WAVE (I)
17:15 31.07.2017

The price is consolidating between the levels +1/8 & 8/8. If the pair fixates under 8/8 MM Level, there'll be an opportunity to have bearish wave [a]. In this case, we should keep an eye on 5/8 MM Level as an intraday target

It's likely that there's a bearish impulse in wave (i). However, wave (ii) is a quite big, so this wave count will be unconfirmed until a downward impulse in the direction of wave (iii) arrives.

More:
https://fbs.com/analytics/articles/eur_usd:_bearish_impulse_in_wave_(i)_2597

 

[riki143]

GBP/USD: POUND IS UNDER MAIN RESISTANCE
08:26 01.08.2017

Technical levels: support – 1.3160; resistance – 1.3230.

Trade recommendations:

Sell — 1.3210; SL — 1.3230; TP1 — 1.3160; TP2 — 1.3110.
Reason: bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, the rising lines; but the market is under strong daily resistance.

More:
https://fbs.com/analytics/articles/gbp_usd:_pound_is_under_main_resistance_2617