Market news and trade recommendations by FBS

[riki143]

GBP/USD Daily Analytics
11:58 20.12.2017

The 89 Moving Average is acting as support, so the market is likely going to test the nearest resistance at 1.3454. If a pullback from this level happens, we could have a decline towards another support at 1.3369.

The price is consolidating above the Moving Averages. The main intraday target is the next resistance at 1.3430 - 1.3447, which could be a departure point for a downward price movement in the direction of the 89 Moving Average.

More:
https://fbs.com/analytics/articles/gbp-usd-89-moving-average-acting-as-support-5846

 

[riki143]

EUR/USD Daily analytics
12:01 20.12.2017

There's a "Shooting Star", which has been formed at the last local high. So, we're likely going to have a local bearish correction. However, if a pullback from the Moving Averages happens little later on, bulls will probably try to test the upper "Window".

We've got a "Shooting Star", which hasn't been confirmed yet. Nevertheless, bears are likely going to test the lower "Window", which could be a departure point for another upward price movement.

More:
https://fbs.com/analytics/articles/eur-usd-shooting-star-pattern-5847

 

[riki143]

USD/JPY Daily Analytics
12:03 20.12.2017

The last "Hammer" pattern pushed the price higher. The main intraday target is the upper "Window". If a pullback from this level happens, there'll be an opportunity to have a decline.

There's still no any reversal pattern on the one-hour chart. Meanwhile, it's likely to have a downward correction in the coming hours. At the same time, bulls will probably try to test the next resistance area afterwards.

More:
https://fbs.com/analytics/articles/usd-jpy-hammer-pushed-price-higher-5848

 

[riki143]

EUR/JPY Daily Analytics
06:40 21.12.2017
Recommendation:

BUY 134.00

SL 133.45

TP1 135 TP2 136

On the daily chart, EUR/JPY left the medium-term consolidation range 131.50-133.95 as it traded within “Spike and ledge” pattern. As a result, the pair resumed bullish trend and the chances of advance to 200% of AB=CD pattern increased. It’s situated near 136.

On H1, EUR/JPY formed a “Widening wedge”. The fact that it went to point 5 means that bulls have total control. Pullbacks to supports may be used for forming long positions.

More:
https://fbs.com/analytics/articles/eur-jpy-bulls-got-free-5870

 

[riki143]

USD/JPY Daily Analytics
06:47 21.12.2017
Recommendations:

BUY 113.65 SL 113.1 TP1 114.65 TP2 115.35

SELL 112.75 SL 113.3 TP 111.75

On the daily chart, USD/JPY bulls managed to conquer resistance at 113.00 and return initiative in their hands. As a result, the odds of reaching 113% target of the inverted junior “Shark” pattern increased.

On H1, USD/JPY keeps correcting to the wave CD as the “Shark” pattern is transforming into 5-0. Return of the pair 50% and the following successful test of the diagonal support will increase the risk of decline. On the other hand, increase above 78.6% and 88.6% will allow bulls to continue the rally.

More:
https://fbs.com/analytics/articles/usd-jpy-bulls-go-north-5871

 

[riki143]

EUR/USD Daily Analytics
10:12 21.12.2017

Bulls faced with resistance at 1.1919, so the price is consolidating. The main intraday is the next resistance at 1.1901 - 1.1919. If a pullback from this area happens, there'll be an opportunity to have a decline towards the closest support at 1.1859 - 1.1833.

The price is consolidating between the levels 1.1871 - 1.1890. Also, there's a "Pennant" pattern, so it's likely that the pair is going to test the nearest resistance at 1.1914 - 1.1941. Meanwhile, if a pullback from this area happens little later on, bears will probably try to reach another support at 1.1848 - 1.1833.

More:
https://fbs.com/analytics/articles/eur-usd-pennant-pattern-5874

 

[riki143]

GBP/USD Daily Analytics
10:15 21.12.2017

The market is still consolidating along the Moving Averages. The main intraday target is the next resistance area at 1.3419 - 1.3445. At the same time, if a pullback from these levels takes place, there'll be an opportunity to have another decline in the direction of the nearest support at 1.3336 - 1.3300.

There's a consolidation, which is happening under the Moving Averages. Therefore, the pair is likely going to test the closest resistance at 1.3408 - 1.3419. This area could be a departure point for a downward price movement towards the nearest support at 1.3336 - 1.3319.

More:
https://fbs.com/analytics/articles/gbp-usd-pair-going-to-test-closest-resistance-5875

 

[riki143]

EUR/USD Daily Analytics
11:12 21.12.2017

There's a bullish "Three Methods" pattern, which has been formed on the nearest "Window". So, the market is likely going to test the next "Window" in the short term.

We've got a bullish "Hammer" pattern, which has been confirmed. In this case, it's likely that the pair is going to continue moving up in the direction of the upper "Window" in the coming hours.

More:
https://fbs.com/analytics/articles/eur-usd-bullish-hammer-pattern-5876

 

[riki143]

USD/JPY Daily Analytics
11:15 21.12.2017

There's a "Shooting Star", which has been formed at the last local high. However, this pattern doesn't have confirmation so far. Therefore, we could have just a local bearish correction towards the Moving Averages.

We've got a bearish "High Wave", but confirmation of this pattern is a quite weak. So, we should keep an eye on the 89 Moving Average as the next intraday target. If a pullback from this line happens little later on, there'll be an opportunity to have another bullish price movement.

More:
https://fbs.com/analytics/articles/usd-jpy-bearish-high-wave-5877

 

[riki143]

EUR/USD Daily Analytics
15:28 21.12.2017

There's a developing ending diagonal in wave 5, so we're likely going to have a zigzag in wave [iii] in the short term. The main intraday target is +2/8 MM Level.

The price has been rising since a pullback from 1/8 MM Level happens. It's likely that wave [4] ended, so we could have another bullish impulse in wave [5] of iii in the coming hours. In this case, we should keep an eye on 7/8 MM Level as the next target.

More:
https://fbs.com/analytics/articles/eur-usd-developing-ending-diagonal-5880

 

[riki143]

AUD/USD Daily Analytics
06:17 22.12.2017
Technical levels: support – 0.7680; resistance – 0.7760

Trade recommendations:

Buy — 0.7700; SL — 0.7680; TP1 — 0.7760; TP2 — 0.7790.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are breaking out the resistance of 0.7680 and may go higher.

More:
https://fbs.com/analytics/articles/aud-usd-aussie-will-continue-uptrend-5885

 

[riki143]

USD/JPY Daily Analytics
06:18 22.12.2017
Technical levels: support – 113.00; resistance – 113.60.

Trade recommendations:

Buy — 113.00; SL — 112.80; TP1 — 113.60; TP2 — 114.00.
Reason: expanding bulllish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are tested the main resistance and returned to support of Tenkan-sen.

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-in-correction-5886

 

[riki143]

EUR/USD Daily Analytics
07:29 22.12.2017
Recommendation:

SELL 1.1815

SL 1.187

TP1 1.1715 TP2 1.167 TP3 1.16

On the daily chart, EUR/USD created grounds for the realization of the |Head and shoulders” pattern. The necessary conditions include a break of support at 1.1805-1.1820 with the following exit of the pair outside of the uptrend channel. On the other hand, renewal of last high above 1.19 will increase the risks of the rally’s continuation.

On H1, EUR/USD the exit of the pair outside of the uptrend channel will create grounds for triggering AB=CD pattern. Its 127.2% target is near 1.1670.

More:
https://fbs.com/analytics/articles/eur-usd-things-are-not-good-for-the-euro-5887

 

[riki143]

EUR/GBP Daily Analytics
07:43 22.12.2017
Recommendation:

BUY 0.889

SL 0.8835

TP1 0.8980 TP2 0.9020 TP3 0.9070

On the daily chart, EUR/GBP is consolidating within a bullish channel. A break of its lower border near 0.8740 will increase the risks of the pair going to 200% target of AB=CD. On the other hand, bears’ inability to let the pair below the diagonal support will allow bulls to resume the uptrend.

On H1, EUR/GBP keeps forming the “Head and shoulders”. To continue the rally, the pair needs to break above resistance at 0.8890.

More:
https://fbs.com/analytics/articles/eur-gbp-bulls-grip-a-straw-5888

 

[riki143]

EUR/USD Daily Analytics
09:45 22.12.2017

There's a "Double Top" pattern, so the price was declining, but the 34 Moving Average acted as support. Therefore, we've got a bullish "Thorn" pattern. In this case, we should keep an eye on the nearest resistance at 1.1902 as an intraday target.

The 89 Moving Average has acted as support, so there's a "Thorn" pattern. However, a "V-Top" was formed afterwards, so the pair is likely going to test the closest support at 1.1833, which could be a departure point for an upward price movement.

More:
https://fbs.com/analytics/articles/eur-usd-thorn-pattern-5893

 

[riki143]

GBP/USD Daily Analytics
09:48 22.12.2017

The price is still consolidating along the Moving Averages. The main intraday target is the next resistance at 1.3419 - 1.3445. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the closest support at 1.3336 - 1.3319.

There's a consolidation, which is taking place between the levels 1.3386 - 1.3369. It's likely that bears are going to achieve the next support at 1.3350. Meanwhile, if a pullback from this level is on the table, we could have another upward price movement in the direction of the nearest resistance at 1.3419 - 1.3430.

More:
https://fbs.com/analytics/articles/gbp-usd-price-is-still-consolidating-5894

 

[riki143]

EUR/USD Daily Analytics
09:52 22.12.2017

There's a "Tower" pattern, which has been formed on the upper "Window". So, the market is likely going to test the 55 Moving Average line, which could be a departure point for another bullish rally.

There are bearish patterns such a "Hanging Man" and a "High Wave", which both have been confirmed. Therefore, the price is likely going to reach the lower "Window" in the coming hours.

More:
https://fbs.com/analytics/articles/eur-usd-tower-pattern-5895

 

[riki143]

USD/JPY Daily Analytics
09:54 22.12.2017

We've got a "Shooting Star", which has been formed at the last local high. In this case, we should keep an eye on the Moving Averages as the next intraday target. If a pullback from these lines happens, there'll be an opportunity to have another upward price movement.

The last bearish "High Wave" pattern has been confirmed by the "Three Methods". So, the pair is likely going to test the 144 Moving Average in the short term.

More:
https://fbs.com/analytics/articles/usd-jpy-bearish-high-wave-pattern-5896

 

[riki143]

EUR/USD Daily Analytics
15:01 22.12.2017

There's a developing ending diagonal in wave 5 on the four-hour chart. It's likely that wave [iii] is going to move on. The main intraday target is +2/8 MM Level.

4/8 MM Level acted as support, so wave ii might have been formed. Therefore, we're likely going to have an upward price movement in wave iii of (c) of [iii] in the coming hours.

More:
https://fbs.com/analytics/articles/eur-usd-4-8-mm-level-acted-as-support-5898

 

[riki143]

BITCOIN (BTC/USD)
00:19 26.12.2017
The main news in the last days around the cryptocurrencies has been the massive take-profiting action of the Bitcoin after having found resistance around the important psychological level of 19,000. The price has lost about 20% and although it has managed to have a recovery, it seems that the bears want to retake the reins of the pair in the short term.

At the fundamental level, we have observed that more hedge funds have been betting on the BTC and countries are increasingly resigned to accept companies that trade with cryptocurrency. An example of this is Belarus, whose country has taken measures of tax cuts for those companies that are in the cryptocurrency’s trading.

Technically, the BTC/USD has broken a bullish trend line, although it tries to stay above the 200-hour moving average, although the Parabolic SAR still does not show that the bulls have resumed the pair's trend. The price remains below the 50-hour moving average, which could serve as a dynamic resistance.

What do we expect?

Due to the nature of the sustained decline from the psychological mark of the 19,000, we could be ahead of a doubling of a cycle started from that fall to the lows of last week. This is reinforced by the idea that Bitcoin has fractured an uptrend line. If it breaks below the 200-hour moving average, we could see a break in the support level at 11,588 and then go to the Fibonacci extension of 100% at 5,754. On the upside, if the BTC bounces above the 200-hour moving average, the next target would be the 19,000 milestone.

More:
https://fbs.com/analytics/articles/...nd-the-corrective-bias-in-the-short-term-5907