Market news and trade recommendations by FBS

[riki143]

EUR/GBP: BULLS ARE RESUMING THE TREND
07:39 06.10.2017

Recommendation:

BUY 0.8945

SL 0.889

TP1 0.902 TP2 0.9085

On the daily chart, EUR/GBP keeps forming the invested “Shark” pattern and resuming the uptrend. A break of diagonal resistance and settling above 0.8929 will increase the risks of reaching 88.6% and 113% targets.

On H1, EUR/GBP after reaching the targets of the reversal pattern “Widening wedge” started an uptrend. A beak of resistance at 0.8945 will be a signal for continuation to the upside towards the targets marked at the senior timeframe.

More:
https://fbs.com/analytics/articles/eur-gbp-bulls-are-resuming-the-trend-4228

 

[riki143]

EUR/USD IS BUILDING A FORTRESS
07:17 06.10.2017
Recommendation:

BUY 1.1595

SL 1.1540

TP 1.1710

On the daily chart, EUR/USD fell below 1.17 (88.6% target of the “Shark” pattern). Bulls are ready to test support at 1.1685 (23.6% of the last bullish wave). Success will open the way to 113% target of the “Shark”

On H1, a break below an important support at 1.1710 increased the risks of continuation to the downside to 1.1595-1.1605 (200% and 113% of AB=CD and “Shark”). If the euro gets there, it will create grounds for a pullback.

More:
https://fbs.com/analytics/articles/eur-usd-is-building-a-fortress-4226

 

[riki143]

EUR/USD: PRICE GOING TO TEST NEAREST SUPPORT
09:05 06.10.2017

The price is consolidating near the 34 Moving Average, so bears are likely going to reach the nearest support at 1.1661 - 1.1612. If a pullback from this area happens, we could have another upward price movement towards the closest resistance at 1.1688 - 1.1714.

There's a consolidation, which is taking place between the levels 1.1688 - 1.1714. It's likely that the pair is going to test the next support at 1.1661 - 1.1639 during the day. Meanwhile, if we see a pullback from these levels, bulls will probably try to achieve another resistance at 1.1688 - 1.1695.

More:
https://fbs.com/analytics/articles/eur-usd-price-going-to-test-nearest-support-4230

 

[riki143]

US NONFARM PAYROLLS: FORECASTS FROM BANKS
10:28 06.10.2017

The United States will release labor market data at 15:30 MT time today. According to the consensus forecast, American economy added in September only 88K of new jobs after gaining 156K in August. The reason for weak expectations in the Harvey hurricane. Apart from NFP, America will also release average hourly earnings and unemployment rate. Let’s see what outcome do the major banks envisage.

More:
https://fbs.com/analytics/articles/us-nonfarm-payrolls-forecasts-from-banks-4232

 

[riki143]

EUR/USD: "ENGULFING" AND "HAMMER"
12:12 06.10.2017

We've got a bullish "High Wave", which hasn't been confirmed enough. So, we could have just a local upward correction in the short term. If a pullback from the nearest resistance happens, bears are likely going to break the last low.

We've got bullish patterns such an "Engulfing" and a "Hammer", which both have been confirmed. So, the 55 Moving Average is likely going to act as resistance during the day.

More;
https://fbs.com/analytics/articles/eur-usd-engulfing-and-hammer-4233

 

[riki143]

USD/JPY: "WINDOW" ACTING AS SUPPORT
12:14 06.10.2017

The "Window" is acting as support, so we've got an "Engulfing" pattern. Therefore, the market is likely going to reach the nearest resistance area pretty soon.

There's a bearish "High Wave", which has been confirmed. So, the price is likely going to get support on the 55 Moving Average. If a pullback from this line happens, we could have just another bullish rally.

More:
https://fbs.com/analytics/articles/usd-jpy-window-acting-as-support-4234

 

[riki143]

GBP/USD: BEARS CAN'T STOP
09:08 06.10.2017

Bears faced with support at 1.3081, but the market is likely going to test the next support at 1.3017 - 1.2994 in the short term. If a pullback from this area happens, we could have a bullish price movement towards the nearest resistance area at 1.3081 - 1.3115.

The price is still declining. The main bearish target is the nearest support at 1.3017 - 1.2994. If a pullback from this area happens little later on, there'll be an opportunity to have a bullish price movement in the direction of the closest resistance at 1.3081 - 1.3115.

More:
https://fbs.com/analytics/articles/gbp-usd-bears-cant-stop-4231

 

[riki143]

EUR/AUD: TARGETING THE 1.5140 LEVEL
00:08 09.10.2017

EUR/AUD has gained momentum around the 65% Fibonacci retracement level at 1.4962 and now it’s targeting the -23.6% Fibo zone at 1.5138. During Friday’s session, it made a pull back in an effort to correct recent gains in the pair. If it manages to break above Friday’s highs, such target could be reached, while a pull back should take the pair to re-test the 200 SMA around the 38.2% Fibo level.

RSI indicator remains in the positive territory, favoring to the bulls.

More:
https://fbs.com/analytics/articles/eur-aud-targeting-the-15140-level-4253

 

[riki143]

EUR/USD: EURO FIXED POSITIONS OVER KIJUN-SEN
05:20 09.10.2017

Technical levels: support – 1.1725, 1.1700; resistance – 1.1760/70.

Trade recommendations:

Sell — 1.1750; SL — 1.1770; TP1 — 1.1700; TP2 – 1.1650
Reason: bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the prices are breakout the Kijun’s resistance, but there is a stronger resistance of the Cloud.

More:
https://fbs.com/analytics/articles/eur-usd-euro-fixed-positions-over-kijun-sen-4255

 

[riki143]

GBP/USD: POUND MADE A NEW LOWS
05:21 09.10.2017

Technical levels: support – 1.3060, 1.3000; resistance – 1.3150.

Trade recommendations:

Sell — 1.3150; SL — 1.3170; TP1 — 1.3060; TP2 — 1.3000.
Reason: bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen; the prices are tested the support of 1.3020 and returned to Kijun-sen.

More:
https://fbs.com/analytics/articles/gbp-usd-pound-made-a-new-lows-4256

 

[riki143]

NZD/USD: BEARS RETURNED HOME
07:20 09.10.2017

Recommendation:

SELL 0.7145 SL 0.72 TP1 0.6045 TP2 0.6965

BUY 0.6965 SL 0.691 TP1 0.7065 TP2 0.7145

On the daily chart, NZD/USD keeps forming Gartley pattern. Its 78.6% target is near the lower border of the uptrend channel. This increases the risks of a pullback. After that, buyers may try to resume the uptrend.

On H1, there’s the short-term downtrend. The nearest resistance is close to 0.7145. The inability of bulls to overcome it will signal buyers’ weakness.

More:
https://fbs.com/analytics/articles/nzd-usd-bears-returned-home-4261

 

[riki143]

AUD/USD RAN INTO SHARKS
07:38 09.10.2017

Recommendation:

SELL 0.773 SL 0.7785 TP 0.76

SELL 0.786 SL 0.7915 TP1 0.773 TP2 0.76

On the daily chart, AUD/USD keeps going to 161.8% and 88.6% targets of the junior “Crab” pattern and the senior “Shark” pattern. They are situated around 0.76. The trend remains descending, so the pullbacks may be used for selling.

On H1, AUD/USD can trigger the inverted “Shark” pattern and correct towards its target at 88.6%. To do this, bears need to break the diagonal resistance in the form of the upper border of the downtrend channel.

More:
https://fbs.com/analytics/articles/aud-usd-ran-into-sharks-4262

 

[riki143]

EUR/USD: "THORN" PATTERN PUSHED PRICE HIGHER
09:16 09.10.2017

There's a "Thorn" pattern, which pushed the price higher, but bulls faced with resistance at 1.1739. In this case, the market is likely going to test the nearest support at 1.1688, which could be a departure point for an upward price movement towards the next resistance at 1.1772 - 1.1793.

The price is consolidating near the 55 Moving Average. Also, there's a local "Triple Top" pattern, so bears are likely going to reach the closest support at 1.1695 - 1.1688. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of another resistance at 1.1772 - 1.1793.

More:
https://fbs.com/analytics/articles/eur-usd-thorn-pattern-pushed-price-higher-4266

 

[riki143]

GBP/USD: "V-BOTTOM" PATTERN
09:17 09.10.2017

Bears faced with support at 1.3017, so we've got a "V-Bottom" pattern. In this case, the pair is likely going to achieve the nearest resistance at 1.3182 in the short term. However, if we have a pullback from this level, there'll be an option to have another decline towards the closest support area at 1.3017 - 1.2994.

The price has been rising since a "V-Bottom" pattern was formed. The main intraday target is the nearest resistance at 1.3182 - 1.3221. Meanwhile, if we see a pullback from these levels, bears will probably try to reach the next support at 1.3017 - 1.2994 soon.

More:
https://fbs.com/analytics/articles/gbp-usd-v-bottom-pattern-4267

 

[riki143]

EUR/USD: ANOTHER PULLBACK FROM 0/8 MM LEVEL
10:00 09.10.2017

There's another pullback from 0/8 MM Level, so wave 4 may have been formed. Also, we've got a possible ending diagonal in wave [c] of 4. In this case, bulls are likely going to deliver an impulse in wave . The main intraday target is 2/8 MM Level.

-1/8 MM Level has acted as support, so we've got an upward impulse in wave (i). Moreover, wave (ii) is likely ended, so there's an opportunity to have another bullish impulse in wave (iii) of [iii] during the day.

More:
https://fbs.com/analytics/articles/eur-usd-another-pullback-from-0-8-mm-level-4268

 

[riki143]

USD/JPY: "TWEEZERS" AND "ENGULFING" PATTERNS
11:56 09.10.2017

We've got a "Tweezers" and an "Engulfing" patterns, which both have been formed at the local high. So, the 34 Moving Average is likely going to act as support soon. If a pullback from this line happens, we could have another bullish rally.

The price is still consolidating, cause the 144 Moving Average is acting as support. In this case, the pair is likely going to test the upper "Window", which could be a departure point for another decline.

More:
https://fbs.com/analytics/articles/usd-jpy-tweezers-and-engulfing-patterns-4269

 

[riki143]

EUR/USD: BULLISH "HIGH WAVE"
11:57 09.10.2017

There's a "High Wave" pattern, which has been confirmed. So, the market is likely going to test the 34 Moving Average, which could be a departure point for another decline.

We've got a local bullish "High Wave", so there's an opportunity to have an intraday upward price movement. The main target for buyers is the 144 Moving Average line.

More:
https://fbs.com/analytics/articles/eur-usd-bullish-high-wave-4270

 

[riki143]

AUD/USD: AUSSIE IN CORRECTION TO KIJUN
04:56 10.10.2017

Technical levels: support – 0.7760; resistance – 0.7800

Trade recommendations:

Sell — 0.7800; SL — 0.7820; TP1 — 0.7760; TP2 — 0.7715.
Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen and Kijun-sen; the prices are in correction inside of the channel Tenkan-Kijun.

More:
https://fbs.com/analytics/articles/aud-usd-aussie-in-correction-to-kijun-4285

 

[riki143]

USD/JPY: DOLLAR ENTERED INTO CLOUD
04:57 10.10.2017

Technical levels: support – 112.40; resistance – 113.30.

Trade recommendations:

Sell — 112.30; SL — 112.50; TP1 — 111.90; TP2 — 111.60.
Reason: bullish Ichimoku Cloud with rising Senkou Span B, but horizontal Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen, with horizontal Tenkan-sen and Kijun-sen; the prices are breaking down the SSA’s support and entered into the Cloud.

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-entered-into-cloud-4286

 

[riki143]

XAU/USD: BULLS COUNTERATTACKED
07:54 10.10.2017

Recommendation:

SELL $1277 SL $1292 TP $1247

On the daily chart, XAU/USD bulls managed to get to an important support at $1267 an ounce and let the pair outside of the short-term descending channel. The pair’s currently getting ready to conquer resistance at $1289. Success in this will open the way to $1302 and $1317. Failure will return the initiative to the bears.

On H1, after reaching 200% target of AB=CD XAU/USD pulled back. To resume active selling, bears need to return the pair inside the downtrend channel.

More:
https://fbs.com/analytics/articles/xau-usd-bulls-counterattacked-4289