Market news and trade recommendations by FBS

[riki143]

USD/JPY: DOLLAR ON MAIN SUPPORT
08:47 29.08.2017

Technical levels: support – 108.60; resistance – 109.10.

Trade recommendations:

Sell — 109. 10; SL — 109.30; TP1 — 109.00; TP2 — 108.50.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span B; a cancelled golden cross of Tenkan-sen and Kijun-sen and the falling lines; the Bears made a new lows, but the market is on the strong daily’s support.

More:
https://fbs.com/analytics/articles/usd_jpy:_dollar_on_main_support_3313

 

[riki143]

GOLD APPROACHED A MILESTONE
10:38 29.08.2017

Recommendation:

BUY 1295.50

SL 1285

TP2 1325 TP2 1380

On the daily chart, XAU/USD reached 78.6% target of the inverted Gartley pattern and 78.6% of the last long-term descending wave. As a result, the risks of a pullback have increased. On the other hand, if the bulls manage to overcome the resistance at $1321-1325 an ounce, increase towards the target at 200% of the AB=CD pattern will likely continue.

On H1, there’s a “Spike and reversal with acceleration” pattern. XAU/USD is now at the spike stage. To change the trend, bears need to move the prices below $1285.

More:
https://fbs.com/analytics/articles/gold_approached_a_milestone_3315

 

[riki143]

USD/CAD: BEARS WANT MORE
10:50 29.08.2017

Recommendations:

SELL 1.2450 SL 1.2505 TP 1.2300 TP2 1.2050

SELL 1.2595 SL 1.2650 TP1 1.2495 TP2 1.2300

On the daily chart, USD/CAD approached multiyear minimum. If it goes below it, AB=CD with 200% target will be triggered. We can’t doubt in the force of the downtrend, so there’s sense to use the pullbacks for selling.

On H1, to resume the downtrend bears need to go below 1.2450. A signal for selling will be bulls’ inability to overcome 1.2595.

More:
https://fbs.com/analytics/articles/usd_cad:_bears_want_more_3316

 

[riki143]

EUR/USD: BULLS WENT THROUGH RESISTANCE
12:25 29.08.2017

Bulls went through resistance at 1.1975 - 1.2003, but the price faced with another resistance at 1.2042. Anyway, the market is likely going to continue moving up, so we should keep an eye on the next resistance at 1.2080 - 1.2123 as a bullish target. If a pullback from this area happens, there'll be an opportunity to have a bearish correction.

There's resistance at 1.2042, so the market is likely going to test the nearest support at 1.2003. Meanwhile, if a pullback from this level happens, bulls will have a green light to catch another resistance at 1.2042 - 1.2080.

More:
https://fbs.com/analytics/articles/eur_usd:_bulls_went_through_resistance_3324

 

[riki143]

GBP/USD: BULLISH "FLAG"
12:28 29.08.2017

All the Moving Averages have been broken, so bulls faced resistance at 1.2958. Nevertheless, the price is likely going to continue rising, so we should keep an eye on the next resistance at 1.2989 - 1.3021 as the next bullish target.

The last bullish "Flag" has been broken, so the price is rising. However, bulls faced with resistance at 1.2958, so the market is likely going to test the closest support at 1.2943, which could be a departure point for another bullish rally.

More:
https://fbs.com/analytics/articles/gbp_usd:_bullish_"flag"_3325

 

[riki143]

EUR/USD: DEVELOPING BULLISH IMPULSE
13:35 29.08.2017

The price is still rising, cause there's a triangle in wave [iv], so we've got a developing bullish impulse. The main target for wave [v] of 3 is 8/8 MM Level, which could be a departure point for a bearish correction.

As we can see on the one-hour chart, the price is forming an extension in wave (iii) of [v]. 7/8 MM Level is likely going to act as resistance. If so, we could have wave (iv) pretty soon. Nevertheless, bulls are going to deliver wave (v) of [v] afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_developing_bullish_impulse_3332

 

[riki143]

USD/JPY: BULLISH "HAMMER"
14:46 29.08.2017

The price reached the lower "Window", so we could have any reversal pattern soon. If so, bulls are likely going to test the 21 Moving Average. However, if a pullback from this line happens, we could have the market even lower.

There's a bullish "Hammer", but confirmation of this pattern is quite weak. In this case, the 55 Moving Average is likely going to act as resistance in the coming hours.

More:
https://fbs.com/analytics/articles/usd_jpy:_bullish_"hammer"_3335

 

[riki143]

EUR/USD: BEARISH "ENGULFING"
14:49 29.08.2017

The price is still rising, but we're likely going to have a reversal pattern soon. If so, there'll be an opportunity to have a local downward correction. Nevertheless, bulls are going to deliver a new high afterwards.

We've got a bearish "Engulfing", but this pattern hasn't been confirmed yet. So, the pair is likely going to test the nearest support level, which could be a departure point for another upward price movement.

More:
https://fbs.com/analytics/articles/eur_usd:_bearish_"engulfing"_3336

 

[riki143]

USD/CHF: BULLS CALLED WOLFE FOR HELP
10:10 30.08.2017

Recommendation:

BUY 0.9585

SL 0.953

TP1 0.971 TP2 0.974

On the daily chart, USD/CHF formed a double bottom. The bar with the long lower wick strengthens the odds of the “Dragon” pattern. However, at the beginning bulls need to conquer resistance at 0.9650 (23.6% of the last long-term descending wave) and at 0.9765.

On H1, USD/CHF reached the targets of the “Widening wedge” pattern. The pair’s currently forming “Wolfe waves” pattern. A break of resistance at 0.9585 will be a signal for opening long positions.

More:
https://fbs.com/analytics/articles/usd_chf:_bulls_called_wolfe_for_help_3350

 

[riki143]

GBP/USD: BEARS SET A TRAP
10:18 30.08.2017

Recommendations:

SELL 1.296 SL 1.3015 TP1 1.2845 TP2 1.278

SELL 1.3020 SL 1.3075 TP1 1.2915 TP2 1.2845

On the daily chart, bulls are making jumbo efforts to return the pair inside the long-term bullish channel. Never the less, their inability to overcome resistance at 1.2962 (38.2% of the wave CD of the 5-0 pattern) and formation of pin bar points at buyers’ weakness.

On H1, the “Shark” pattern is transforming into 5-0. The pullbacks to 38.2%, 50% and 61.8% of the wave CD may be used for opening short positions.

More:
https://fbs.com/analytics/articles/gbp_usd:_bears_set_a_trap_3351

 

[riki143]

EUR/USD: "PENNANT" PATTERN
12:28 30.08.2017

There's a "V-Top" pattern, so the price reached the nearest support at 1.1959. However, bears are likely going to test the next support at 1.1909 - 1.1875. If a pullback from this area happens, there'll be an opportunity to have another upward price movement.

The 34 Moving Average has acted as support, but we've got a "Pennant" pattern. Therefore, bears are likely going to test the closest support at 1.1909 - 1.1892 soon. If we have a pullback from these levels, bulls will probably try to achieve resistance at 1.1975 - 1.2003.

More:
https://fbs.com/analytics/articles/eur_usd:_"pennant"_pattern_3357

 

[riki143]

GBP/USD: MARKET GOING TO TEST 34 MA
12:30 30.08.2017

All the Moving Averages have been broken, but there's a "V-Top" pattern, so the market is likely going to test the 34 MA. If a pullback from this line happens little later on, bulls will have a green light to catch the next resistance at 1.2959 - 1.2989.

Bears faced support at 1.2916, so the price is consolidating. Meanwhile, there's a "Flag", so the price is likely going to reach the 89 Moving Average in the short term.

More:
https://fbs.com/analytics/articles/gbp_usd:__market_going_to_test_34_ma_3358

 

[riki143]

EUR/USD: PULLBACK FROM 7/8 MM LEVEL
14:02 30.08.2017

There's a pullback from 7/8 MM Level, so wave [v] of 3 may have been formed. In this case, we could have a bearish impulse in wave [a]. The main intraday target is 5/8 MM Level.

We've got a downward impulse in wave (i), so bears are likely going to deliver wave (iii) during the day. If a pullback from 2/8 MM Level happens little later on, there'll be an opportunity to have an upward correction.

More:
https://fbs.com/analytics/articles/eur_usd:__pullback_from_7_8_mm_level_3360

 

[riki143]

USD/JPY: BEARISH "HARAMI"
14:52 30.08.2017

The 89 Moving Average has acted as resistance, so we've got a "Shooting Star". If this pattern confirms, there'll be an opportunity to have a local decline. Anyway, bulls are likely going to deliver a new high afterwards.

There's a bearish "Harami", which has been confirmed. So, the pair is likely going to reach the 144 Moving Average soon. If any bullish pattern arrives afterwards, we should keep an eye on the upper "Window" as an intraday target

More:
https://fbs.com/analytics/articles/usd_jpy:_bearish_"harami"_3366

 

[riki143]

EUR/USD: "THREE METHODS" PATTERN
14:56 30.08.2017

There's a bearish "Harami", which has been confirmed by the last "Three Methods" pattern. So, the market is likely going to continue moving down in the short term.

We've got a bullish "Harami" on the lower "Window". If this pattern confirms, we could have a local upward correction in the direction of the nearest resistance level.

More:
https://fbs.com/analytics/articles/eur_usd:_"three_methods"_pattern_3368

 

[riki143]

EUR/USD: CORRECTION TO CLOUD
09:41 31.08.2017

Technical levels: support – 1.1850, 1.1815; resistance – 1.1920, 1.1960.

Trade recommendations:

Buy — 1.1850; SL — 1.1830; TP1 — 1.1920; TP2 – 1.1960.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, narrowing channel of Tenkan-Kijun; the prices are breaking down the support of Kijun-sen and going to Cloud.

More:
https://fbs.com/analytics/articles/eur_usd:_correction_to_cloud_3386

 

[riki143]

GBP/USD: LOOKING FOR SSB
09:42 31.08.2017

Technical levels: support – 1.2900; resistance – 1.2970, 1.3020.

Trade recommendations:

Buy — 1.2920; SL — 1.2900; TP1 — 1.2970; TP2 — 1.3020.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Kijun-sen; the Bulls are ready to continue local uptrend up to SSB-levels.

More:
https://fbs.com/analytics/articles/gbp_usd:_looking_for_ssb_3387

 

[riki143]

EUR/JPY: EURO WANTS FREEDOM
10:27 31.08.2017

Recommendation: BUY 131.8 SL 131.25 TP1 132.8 TP2 134

On the daily chart, EUR/JPY tried to lead the quotes outside of the 127.50-131.30 consolidation range to trigger AB=CD pattern and continue rally towards 134. Never the less, formation of a doji bar points at uncertainty and the possibility of a pullback.

On H1, EUR/JPY formed consolidation range of 131-131.70. The closeness of 113% target of the inverted “Shark” pattern makes bulls careful. Only if the case of its confident test will mean the continuation of the advance.

More:
https://fbs.com/analytics/articles/eur_jpy:_euro_wants_freedom_3389

 

[riki143]

USD/JPY: BULLS COUNTERATTACKED
10:37 31.08.2017

Recommendations:

BUY 109.7 SL 109.15 TP 111.3 TP2 112.15

BUY 110.9 SL 110.35 TP1 112.15 TP2 114

On the daily chart, bulls managed to move the pair outside of the short-term downtrend and start assailing resistance at 110.52. If they succeed, triggering of the inverted “Shark: pattern with target at 88.6% will become more likely.

On H1, USD/JPY reached the target of the “Widening wedge”. Pullbacks towards 23.6% and 38.2% of the wave CD of the “Shark” pattern, as well as the break of resistance at 110.9 should be used for opening long positions.

More:
https://fbs.com/analytics/articles/usd_jpy:_bulls_counterattacked_3390

 

[riki143]

EUR/USD: "PENNANT" LED TO MASSIVE DECLINE
12:20 31.08.2017

Bears faced support at 1.1875, but the market is likely going to continue falling down. So, we should keep an eye on the 55 Moving Average as an intraday target. If a pullback from this line happens, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.1909 - 1.1959.

The last "Pennant" led to a massive decline. The main intraday bearish target is the closest support at 1.1838 - 1.1827. Meanwhile, if we have a pullback from this area, bulls will probably try to deliver an upward correction.

More:
https://fbs.com/analytics/articles/eur_usd:_"pennant"_led_to_massive_decline_3393