Market news and trade recommendations by FBS

[riki143]

GBP/USD: POUND IS FLIRTING WITH INDIANS
07:23 27.09.2017

Recommendations:

SELL 1.34 SL 1.3455 TP 1.3325 TP2 1.322

BUY 1.356 SL 1.3505 TP1 1.356 TP2 1.375

On the daily chart, GBP/USD keeps forming “Three Indians” pattern. A successful test of support at 1.3400 will allow bears to develop correction. Never the less, pound is in the clear bullish trend, so targets of shorts should be moderate.

On H1, a repeated test of support at 1.34 will increase the odds of realization of 88.6% target of the “Shark” pattern. Return of the price to the middle of the 1.3465-1.3610 consolidation range will trigger “Shakeout-Fakeout” pattern and create grounds for resumption of the bullish trend.

More:
https://fbs.com/analytics/articles/gbp-usd-pound-is-flirting-with-indians-4007

 

[riki143]

EUR/USD: BROKEN "PENNANT"
08:32 27.09.2017

Bears went through support at 1.1772, so we should keep an eye on the next support at 1.1714 - 1.1688 as the next intraday target. If a pullback from this area happens, we could have an upward correction towards the nearest resistance at 1.1772 - 1.1793.

The last "Pennant" pattern has been broken, so the price is declining. The main target is the closest support area at 1.1714 - 1.1688, which could be a departure point for a bullish correction.

More:
https://fbs.com/analytics/articles/eur-usd-broken-pennant-4011

 

[riki143]

GBP/USD: BEARS GOING TO TEST ANOTHER SUPPORT
08:34 27.09.2017

The local uptrend has been broken, so the pair is likely going to decline in the direction of the next support at 1.3328 - 1.3278. However, if we have a pullback from these levels, there'll be an opportunity to have an upward correction towards the nearest resistance at 1.3444 - 1.3479.

The pair faced with resistance at 1.3374, so bears are likely going to test another support at 1.3328 - 1.3278 during the day. If we have a pullback from this area, bulls will probably try to test the closest resistance at 1.3404.

More:
https://fbs.com/analytics/articles/gbp-usd-bears-going-to-test-another-support-4012

 

[riki143]

EUR/USD: BEARISH "THREE METHODS"
12:45 27.09.2017

We've got a bearish "Three Methods" pattern, so the price is declining. There isn't any reversal pattern so far, which means bears are likely going to push the price even lower in the short term.

There's a bullish "Harami", but this pattern remains unconfirmed. Therefore, we could have just a local upward correction. If a pullback from the nearest resistance happens little later on, bears will try to deliver a new local low.

More:
https://fbs.com/analytics/articles/eur-usd-bearish-three-methods-4018

 

[riki143]

USD/JPY: PAIR GOING TO CONTINUE MOVING UP
12:48 27.09.2017

The last "Window" has been broken, so we don't have any reversal pattern so far. In this case, the pair is likely going to continue moving up towards the next resistance level.

We've got a bearish "Harami", which hasn't been confirmed yet. So, there's an opportunity to have a local correction during the day. However, bulls will try to deliver a new local high afterwards.

More:
https://fbs.com/analytics/articles/usd-jpy-pair-going-to-continue-moving-up-4019

 

[riki143]

EUR/USD: PRICE ACHIEVED 0/8 MM LEVEL
13:33 27.09.2017

The price is still declining. It seems like wave 4 is taking the form of a zigzag, which is about to end. So, if a pullback from 0/8 MM Level happens later on, there'll be an opportunity to have wave of 5.

The pair has achieved 0/8 MM Level, which could act as support. If so, bulls are likely going to deliver wave . The main intraday target is 2/8 MM Level.

More:
https://fbs.com/analytics/articles/eur-usd-price-achieved-0-8-mm-level-4030

 

[riki143]

EUR/JPY: BEARS ARE LOSING POWER
07:10 28.09.2017
Recommendation:

BUY 133.05

SL 132.5

TP1 134.45 TP2 135.5

On the daily chart, after EUR/JPY reached 161.8% target of AB=CD and corrected, it rebounded from the key support level at 132.05. Bulls are trying to use pin bar and resume the uptrend.

On H1, EUR/JPY formed a “Widening wedge” and broke below the diagonal support in the lower part of the trade channel. To resume the uptrend, bulls will need to return the pair inside the trend channel. To do this, they should get above resistance at 133.05.

More:
https://fbs.com/analytics/articles/eur-jpy-bears-are-losing-power-4041

 

[riki143]

USD/JPY: BULLS KEEP PUSHING
07:15 28.09.2017

Recommendation:

BUY 112.5 SL 111.95 TP1 113.7 TP2 114.25 TP3 115.3

BUY 111.85 SL 111.35 TP1 113.7 TP2 114.25

On the daily chart, USD/JPY approached 88.6% target of the inverted “Shark” pattern. If they succeed to keep the pair above 113, the pair may go for 113% target.

On H1, USD/JPY keeps rising towards 224% target of AB=CD. The nearest resistance is close to 113.65. A recoil down from this level is likely. Trend remains bullish, so correction with the following recoil to the downside may be used for buying.

More:
https://fbs.com/analytics/articles/usd-jpy-bulls-keep-pushing-4042

 

[riki143]

EUR/USD: EURO ON MAIN SUPPORT
07:25 28.09.2017

Technical levels: support – 1.1725; resistance – 1.1800, 1.1875.

Trade recommendations:

Buy — 1.1725; SL — 1.1700; TP1 — 1.1800; TP2 – 1.1825.
Reason: bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, falling lines; the market is oversold and the prices on the main daily support of the Cloud.

More:
https://fbs.com/analytics/articles/eur-usd-euro-on-main-support-4044

 

[riki143]

USD/JPY: DOLLAR REACHED NEW HIGHS
07:28 28.09.2017

Technical levels: support – 112.40; resistance – 113.40.

Trade recommendations:

Sell — 113.40; SL — 113.60; TP1 — 112.60; TP2 — 112.20.
Reason: bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; but the market is overbought and the prices under the strong daily resistance.

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-reached-new-highs-4045

 

[riki143]

EUR/USD: PRICE GOING TO CONTINUE FALLING
09:05 28.09.2017

Bears faced with support at 1.1714, so the price is consolidating. However, the market is likely going to continue falling down towards the next support at 1.1688 - 1.1661. If a pullback from this area happens, we could have an upward price movement in the direction of the nearest resistance at 1.1793 - 1.1822.

The price is consolidating between the levels 1.1714 - 1.1772. The 34 Moving Average is likely going to act as resistance during the day. If a pullback from this line happens, we could have another decline towards the closest support at 1.1714 - 1.1688.

More:
https://fbs.com/analytics/articles/eur-usd-price-going-to-continue-falling-4050

 

[riki143]

GBP/USD: BEARISH "PENNANT"
09:07 28.09.2017

There's a downward "Wedge", so the market is likely going to decline towards the nearest support at 1.3328 - 1.3278. If a pullback from this area happens little later on, there'll be an opportunity to have an upward price movement in the direction of the closest resistance at 1.3444 - 1.3479

We've got a consolidation, which is taking place under the 34 Moving Average. Also, there's a "Pennant", so bears are likely going to decline towards the next support at 1.3328 - 1.3278. Meanwhile, if a pullback from these levels arrives afterwards, bulls will try to test the nearest resistance at 1.3374 - 1.3404.

More:
https://fbs.com/analytics/articles/gbp-usd-bearish-pennant-4051

 

[riki143]

EUR/USD: BULLISH "TWEEZERS" PATTERN
12:40 28.09.2017

There are bullish patterns such an "Inverted Hammer" and an "Engulfing", which both have been confirmed enough. So, we could have a local upward correction. If a pullback from the nearest resistance happens, bears will try to deliver a new local low.

We've got a bullish "Tweezers" pattern. Also, there's a "Three White Soldiers", 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 another decline.

More:
https://fbs.com/analytics/articles/eur-usd-bullish-tweezers-pattern-4052

 

[riki143]

USD/JPY: BEARISH "ENGULFING
12:42 28.09.2017

We've got a bearish "Engulfing", but confirmation of this pattern is a quite weak. So, we could have just a local correction. In this case, bulls are likely going to break the last high once again.

There are a "Harami" and a "High Wave" patterns, which both have been formed at the local high. Therefore, the 55 Moving Average is likely going to act as support during the day.

More:
https://fbs.com/analytics/articles/usd-jpy-bearish-engulfing-4053

 

[riki143]

EUR/USD: TWO PULLBACKS FROM 0/8 MM LEVEL
13:06 28.09.2017

Wave 4 may have been formed like a zigzag, cause there's a pullback from 0/8 MM Level. Therefore, we're likely going to have an upward impulse in wave 5 soon.

There are two pullbacks from 0/8 MM Level in a row, so the price is rising. It's likely that we've got developing wave . If so, wave (iii) is going to move on in the short term.

More:
https://fbs.com/analytics/articles/eur-usd-two-pullbacks-from-0-8-mm-level-4054

 

[riki143]

GBP/USD: POUND SUPPORTED INSIDE CLOUD
06:47 29.09.2017

Technical levels: support – 1.3310, 1.3380; resistance – 1. 3560.

Trade recommendations:

Buy — 1.3400; SL — 1.3380; TP1 — 1.3510; TP2 — 1.3560.
Reason: narrow bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling Kijun-sen; the prices are on the strong support inside a Cloud.

More:
https://fbs.com/analytics/articles/gbp-usd-pound-supported-inside-cloud-4065

 

[riki143]

AUD/USD: AUSSIE REACHED MAIN SUPPORT
06:48 29.09.2017

Technical levels: support – 0.7800, 0.7830; resistance – 0.7880, 0.7900.

Trade recommendations:

Buy — 0.7840; SL — 0.7820; TP1 — 0.7880; TP2 — 0.7900.
Reason: bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are in the oversold area yet, but entered into the channel of Tenkan-Kijun and can grow to Kijun’s levels.

More:
https://fbs.com/analytics/articles/aud-usd-aussie-reached-main-support-4066

 

[riki143]

EUR/USD: EURO PAINTED A WEDGE
07:31 29.09.2017

Recommendation:

SELL 1.1870 SL 1.1925 TP 1.1755

SELL 1.1910 SL 1.1965 TP 1.1790

On the daily chart, EUR/USD keeps forming “Shark” pattern and “Head and Shoulders”. Further fate of the pair will depend on the test of the neckline. There’s an important resistance at 1.1860-1.1865.

On H1, EUR/USD is finishing “Widening wedge” pattern. A successful test of resistance at 1.1805 will trigger the “Dragon” pattern and increase the odds of growth towards 50%, 61.8% and 78,6% of the wave 4-5. The sellers will take it from there.

More:
https://fbs.com/analytics/articles/eur-usd-euro-painted-a-wedge-4068

 

[riki143]

EUR/GBP: BULLS COUNTERATTACKED
07:41 29.09.2017

Recommendations:

BUY 0.881 SL 0.8755 TP1 0.891 TP2 0.9

SELL 0.8755 SL 0.881 TP 0.8655

On the daily chart, EUR/GBP bulls are trying to hold at the lower border of the 0.8775-0.8900 consolidation range. If they fail, a formation of the “Shark” and “Shakeout-Fakeout” pattern will increase the risks of the pair’s advance above 0.9000.

On H1, EUR/GBP is in the final stage of the “Widening wedge”. A break of resistance at 0.8795 (23.6% of the wave 4-5) and 0.8810 will open the way to the upside. Selling the pair will become a good idea below support at 0.8755.

More:
https://fbs.com/analytics/articles/eur-gbp-bulls-counterattacked-4069

 

[riki143]

EUR/USD: "DOUBLE BOTTOM"
09:14 29.09.2017

There's a "Double Bottom", so the price reached the nearest resistance at 1.1793. Meanwhile, the market is likely going to continue moving up towards the next resistance at 1.1822 - 1.1837. If a pullback from this area happens, we could have a decline in the direction of the closest support at 1.1793 - 1.1772.

The price is consolidating between the levels 1.1772 - 1.1793. Also, we've got a "Pennant" pattern, which has been broken. So, we bulls are likely going to reach the next resistance at 1.1822 - 1.1837 in the coming hours. If we have a pullback from these levels, bears will probably try to deliver a downward correction.

More:
https://fbs.com/analytics/articles/eur-usd-double-bottom-4073