Market news and trade recommendations by FBS

[riki143]

GBP/USD: BROKEN "FLAG"
10:35 15.09.2017

The last "Double Bottom" led to the massive bullish rally, but bulls faced with resistance at 1.3444. Nevertheless, the price is likely going to continue moving up towards the next resistance at 1.3479, which could be a departure point for a bearish correction.

The last "Flag" pattern has been broken, so the price is rising. The main bullish target is the closest resistance at 1.3444 - 1.3479. If a pullback from this area happens little later on, there'll be an opportunity to have a downward correction.

More:
https://fbs.com/analytics/articles/gbp-usd-broken-flag-3760

 

[riki143]

EUR/USD: BULLISH "HAMMER" ON 89 MA
11:14 15.09.2017

We've got a bullish "Hammer" on the 89 Moving Average, but the price faced with the nearest resistance. So, the market is likely going to test the 89 Moving Average, which could be a departure point for another upward price movement.

The last "Window" has been broken, so the pair is likely going to achieve the nearest resistance area. If any bearish pattern arrives little later on, there'll be an opportunity to have just another bearish price movement.

More:
https://fbs.com/analytics/articles/eur-usd-bullish-hammer-on-89-ma-3761

 

[riki143]

USD/JPY: BULLS WENT THROUGH THE "WINDOW"
11:16 15.09.2017

The 55 Moving Average has acted as support once again, so there's a "Hammer" on this line. Considering confirmation of this pattern, the market is likely going to continue moving up towards the next "Window".

Bulls went through the "Window" and there isn't any reversal pattern so far. However, we could have a local bearish correction during the day. Nevertheless, the price is likely going to climb even higher afterwards.

More:
https://fbs.com/analytics/articles/usd-jpy-bulls-went-through-the-window-3762

 

[riki143]

EUR/USD: 0/8 MM LEVEL HAS ACTED AS SUPPORT
11:33 15.09.2017

There's a pullback from 5/8 MM Level, so wave 4 may have been formed. In this case, we could have another bullish impulse in wave 5. The main intraday target is 8/8 MM Level.

0/8 MM Level has acted as support, so the price is rising. It seems like we're going to have an upward impulse in wave in the coming hours. If a pullback from 5/8 MM Level arrives little later on, there'll be an opportunity to have a local bearish correction.

More:
https://fbs.com/analytics/articles/eur-usd-0-8-mm-level-has-acted-as-support-3765

 

[riki143]

NZD/USD: KIWI IS RESUMING TREND
07:17 18.09.2017

Recommendation:

BUY 0.7305

SL 0.725

TP1 0.745 TP2 0.7505

On the daily chart, NZD/USD is forming 5-0 senior pattern and the junior “Bat” pattern. Triggering of the latter will increase the risks of continuation towards 88.6%.

On H1, NZD/USD reached targets of the “Widening wedge”. The level of 88.6% of the wave 4-5 (previous buying point) is acting as support. There’s 23.6% level of the wave CD of the inverted “Shark” pattern. Inability of bears to lower the pair below this important support will be a reason for long positions.

More:
https://fbs.com/analytics/articles/nzd-usd-kiwi-is-resuming-trend-3778

 

[riki143]

AUD/USD IS SETTING A TRAP
07:41 18.09.2017

Recommendation:

SELL 0.8055

SL 0.811

TP1 0.802 TP2 0.8005

On the daily chart, bulls managed to defend support in the form of the upper border of the triangle and lower border of the uptrend medium-term channel. This increases the chance that the bullish trend will resume towards 200% target of AB=CD.

On H1, AUD/USD has many chances to reach the targets of the “Shark” pattern. When it gets to 113% target, there may be selling, however, with moderate targets. When the pair reaches these targets, bulls will likely regain the initiative.

More:
https://fbs.com/analytics/articles/aud-usd-is-setting-a-trap-3779

 

[riki143]

EUR/USD: "V-BOTTOM" PATTERN
09:00 18.09.2017

Bulls faced with resistance at 1.1994, so we've got a "V-Bottom" pattern, which pushed the price to the 34 Moving Average. Therefore, the market is likely going to decline towards the nearest support area at 1.1909 - 1.1892. If we have a pullback from these levels, bulls will probably try to test the closest resistance at 1.2029 - 1.2042.

The price is consolidating under resistance at 1.1949. So, the pair is likely going to reach the next support at 1.1907 - 1.1892 in the short term. Meanwhile, if a pullback from this area arrives little later on, there'll be an opportunity to have an upward price movement in the direction of the nearest resistance at 1.1975 - 1.2003.

More:
https://fbs.com/analytics/articles/eur-usd-v-bottom-pattern-3786

 

[riki143]

GBP/USD: BULLISH "FLAG"
09:02 18.09.2017

The price faced with resistance at 1.3653, so there's a consolidation. In this case, bulls are likely going to reach the closest resistance at 1.3652 - 1.3681 soon. However, if a pullback from this area happens, we could have a decline towards the next support at 1.3533.

There's a consolidation, which is taking place on the one hour chart. Also, we've got a bullish "Flag", so the pair is likely going to test the nearest support at 1.3532 during the day. If a pullback from this level happens, there'll be an option to have an upward price movement towards another resistance at 1.3652 - 1.3681.

More:
https://fbs.com/analytics/articles/gbp-usd-bullish-flag-3787

 

[riki143]

EUR/USD: BROKEN "WINDOW"
11:11 18.09.2017

We've got a "Tweezers" and a "Harami", but confirmation of both patterns is quite weak. So, we could have a local upward price movement and a decline towards the Moving Averages afterwards.

The last "Window" has been broken. Also, there isn't any reversal pattern so far, which means the price is likely going to continue moving up. If any bearish pattern arrives later on, there'll be an opportunity to have another decline.

More:
https://fbs.com/analytics/articles/eur-usd-broken-window-3793

 

[riki143]

USD/JPY: BULLISH "HAMMER"
11:13 18.09.2017

We've got a bullish "Hammer", which has been confirmed. So, just after the local correction, the market is likely going to continue rising towards the nearest resistance area.

There are bearish patterns such a "Tweezers" and an "Engulfing", but both of them haven't been confirmed yet. In this case, the pair is likely going to test the 34 Moving Average in the short term. If a pullback from this line happens, we could have another bullish rally.

More:
https://fbs.com/analytics/articles/usd-jpy-bullish-hammer-3794

 

[riki143]

EUR/USD: 0/8 MM LEVEL ACTED AS SUPPORT
12:37 18.09.2017

We've got a pullback from 5/8 MM Level, so wave 4 has been finished. In this case, we could have another bullish impulse in wave 5 in the short term. The main intraday target is 8/8 MM Level.

0/8 MM Level acted as support, so there's an upward impulse in wave . The price couldn't fixate below 3/8 MM Level, so wave [ii] may have been formed. Therefore, bulls are likely going to deliver wave [iii] in the coming hours.

More:
https://fbs.com/analytics/articles/eur-usd-0-8-mm-level-acted-as-support-3796

 

[riki143]

EUR/USD: BULLS GOING TO DELIVER REST OF WAVE 5
05:14 19.09.2017

The price has been rising since a pullback from 5/8 MM Level happened. If the pair fixates above 6/8 MM Level, bulls are likely going to deliver the rest of wave 5. In this case, we should keep an eye on 8/8 MM Level as the next target.

3/8 MM Level has acted as support, so the price is rising. It seems like we're going to have an extension in wave [iii] of 5. In this case, wave (iii) is going to move on towards 8/8 MM Level in the short term.

More:
https://fbs.com/analytics/articles/eur-usd-bulls-going-to-deliver-rest-of-wave-5-3810

 

[riki143]

USD/CAD: BULLS DECIDED TO COUNTERATTACK
07:32 19.09.2017

Recommendation:

SELL 1.242

SL 1.2475

TP1 1.232 TP2 1.2185

On the daily chart, USD/CAD pulled back after reaching the 200% target of AB=CD. If bulls manage to get to resistance at 1.2310, the road to the upper border of the uptrend channel will be open.

On H1, USD/CAD is forming “Spike with reversal and acceleration”. Without a break of the trendline in the area of 1.2150, resumption of the downtrend is not possible. The inability of bulls to overcome resistance at 1.2340 and 1.2420 will point at their weakness.

More:
https://fbs.com/analytics/articles/usd-cad-bulls-decided-to-counterattack-3814

 

[riki143]

EUR/USD: BULLS RETURNED INTO MARKET
08:17 19.09.2017

Technical levels: support – 1.1960; resistance – 1.2000, 1.2090.

Trade recommendations:

Buy — 1.1960; SL — 1.1940; TP1 — 1.2000; TP2 – 1.2090.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising lines; the prices are breaking out the upper bound of the Cloud and may going higher.

More:
https://fbs.com/analytics/articles/eur-usd-bulls-returned-into-market-3817

 

[riki143]

GBP/USD: POUND IS OVERBOUGHT
08:18 19.09.2017

Technical levels: support – 1.3400; resistance – 1. 3575.

Trade recommendations:

Sell — 1.3575; SL — 1.3595; TP1 — 1.3500; TP2 — 1.3475.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with the rising Tenkan-sen; but the market is overbought – waiting for the correction.

More:
https://fbs.com/analytics/articles/gbp-usd-pound-is-overbought-3818

 

[riki143]

XAU/USD: BEARS WANT MORE
07:20 19.09.2017

Recommendation:

SELL $1302

SL $1317

TP1 $1379 TP2 $1268

On the daily chart, bears managed to pull the pair below $1320.4-1321.6 an ounce. A break of the lower border of the uptrend channel will strengthen the risks of a pullback towards $1279 and $1268. On the other hand, recoil from support at $1302 will create grounds for consolidation in the $1300-1350 area.

On H1, XAU/USD has reached the targets of “Spike and reversal with acceleration”. Correction towards targets at 88.6% and 113% of the Shark pattern continues.

More:
https://fbs.com/analytics/articles/xau-usd-bears-want-more-3813

 

[riki143]

EUR/USD: "PENNANT" LED TO BULLISH RALLY
09:53 19.09.2017

The 34 Moving Average has acted as support, so the price is rising. So, we should keep an eye on the next resistance at 1.2029 - 1.2042 as an intraday target. If a pullback from this area arrives little later on, there'll be an opportunity to have a bearish correction.

The last "Pennant" pattern led to another bullish rally, so the pair is likely going to reach the nearest resistance at 1.2029 - 1.2042. However, if we see a pullback from these levels, bears will try to test the closest support at 1.1941 - 1.1934 shortly.

More:
https://fbs.com/analytics/articles/eur-usd-pennant-led-to-bullish-rally-3822

 

[riki143]

GBP/USD: BEARISH "DOUBLE TOP"
09:56 19.09.2017

We've got a bearish "Double Top", which has been confirmed, so the price reached the nearest support at 1.3497. Nevertheless, the market is likely going to test the next support at 1.3444 - 1.3374 in the coming hours. If a pullback from this area happens, we could have just another upward price movement.

The 34 Moving Average has acted as support, so there's a local bullish price movement, which could turn out to be a "Flag" pattern. If so, there'll be an opportunity to have a decline towards the 55 MA.

More:
https://fbs.com/analytics/articles/gbp-usd-bearish-double-top-3823

 

[riki143]

EUR/USD: 89 MA ACTED AS SUPPORT
14:15 19.09.2017

The 89 Moving Average has acted as support, so we've got a "Shooting Star", but this pattern remains unconfirmed. So, the price is likely going to continue moving up towards the next "Window".

We've got a "High Wave", which has been confirmed. In this case, we're likely going to have a local decline towards the 34 Moving Average, which could be a departure point for another upward price movement.

More:
https://fbs.com/analytics/articles/eur-usd-89-ma-acted-as-support-3831

 

[riki143]

USD/JPY: "TWEEZERS" AND "HARAMI"
14:17 19.09.2017

The last bearish "Shooting Star" hasn't been confirmed yet. So, we could have a local decline in the short term and another bullish price movement afterwards.

We've got bearish patterns such a "Tweezers" and a "Harami", which both have confirmation. Therefore, the market is likely going to test the 34 Moving Average in the short term. If a pullback from this line happens, we could have just another upward price movement.

More:
https://fbs.com/analytics/articles/usd-jpy-tweezers-and-harami-3832