• The Forex, Binary Options Forum - welcomes you to our Community!

    DigitalCashPalace Forum is dedicated to discussions about Forex, Binary Options, commodities, stocks related.

    Please take a look around, and feel free to .

Market analysis and trade recommendations by FBS

EUR/USD: PULLBACK FROM 7/8 MM LEVEL
11:50 24.07.2017

1500886163-c5a0714e7deac636d3f31a93dd343cc6_1200x1200_q90.png


There's a pullback from 7/8 MM Level, so the price is declining in wave (iv). However, if 6/8 MM Level acts as support afterwards, there'll be an opportunity to have another bullish impulse in wave (v) of [v].

1500886163-bf16c94033b4c2ff35790818387c61d8_1200x1200_q90.png


As we can see on the one-hour chart, wave (iv) is probably taking the form of a flat pattern. The main intraday target is 6/8 MM Level. If we see a pullback from this level, bulls are likely going to deliver wave (v). In this case, we should keep in mind 8/8 MM Level as the next target.

More:
https://fbs.com/analytics/articles/eur_usd:_pullback_from_7_8_mm_level_2414
 
EUR/USD: BEARISH "SHOOTING STAR" PATTERN
13:55 24.07.2017

1500893667-2dd59d4098564990f7212e99c2cc2b71_1200x1200_q90.png


The bullish trend is still on the table, but we've got a bearish "Shooting Star" pattern, which hasn't been confirmed yet. Therefore, the market is likely going to test the nearest support level, which could be a departure point for another upward price movement.

1500893666-aca750c65039ffa3d61e2e3e0c0894b8_1200x1200_q90.png


There are bullish patterns such an "Engulfing" and a "High Wave", but their confirmation is a quite weak. So, bears are likely going to test the 89 Moving Average. If a pullback from this line happens, there'll be an opportunity to have a bullish correction.

More:
https://fbs.com/analytics/articles/eur_usd:_bearish_"shooting_star"_pattern_2420
 
USD/JPY: "HARAMI" LED TO DECLINE
14:01 24.07.2017

1500893667-b3879a18cddcfa8edaca1fbd2972a8dd_1200x1200_q90.png


The price has been declining since a "Harami" pattern formed. Also, there isn't any reversal pattern so far, which means bears are likely going to test the next support level in the short term. If any reversal pattern arrives afterwards, bulls will probably try to deliver an upward correction.

1500893667-b2220ac4bca823f9d806c45630dd05aa_1200x1200_q90.png


The last bearish "Shooting Star" pattern led to the current decline. However, we've got a bullish "Doji", but this pattern hasn't been confirmed yet. So, we could have just an upward correction and a decline afterwards.

More:
https://fbs.com/analytics/articles/usd_jpy:__"harami"_led_to_decline_2421
 
GBP/USD WITH POSSIBLE BULLISH MOMENTUM ABOVE 1.2920
01:04 25.07.2017

GBP/USD is now finding support around a key Fibonacci zone between the 50% and 65% levels. Such area, established in the 1.2967 and 1.2920 levels could bring a fresh momentum for the bulls and if the pair manages to break above 1.3050, it can confirm the bullish scenario and rallies could go as long as 1.3198, at which is located the -23.6% Fibonacci retracement level.

RSI indicator still supports the bullish path, as it remains in the positive territory.

1500933852-992959297af8b5605dbb670e407a6406_1200x1200_q90.png


More:
https://fbs.com/analytics/articles/gbp_usd_with_possible_bullish_momentum_above_1.2920_2435
 
GBP/USD: BULLS SUPPORTED BY CLOUD
07:40 25.07.2017

Technical levels: support – 1.3000; resistance – 1.3060.

Trade recommendations:

Buy — 1.3020/30; SL — 1.3000; TP1 — 1.3100; TP2 — 1.3130.
Reason: bullish Ichimoku Cloud with rising Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the prices are on the support of the Cloud and Tenkan-sen.

1500957586-5838ef800660551113de2aff99712827_1200x1200_q90.png


More:
https://fbs.com/analytics/articles/gbp_usd:_bulls_supported_by_cloud_2439
 
USD/JPY: DOLLAR RETURNED TO JUNE’S LEVELS
07:41 25.07.2017

Technical levels: support – 110.30; resistance – 111.00, 111.50.

Trade recommendations:

Sell — 111.00; SL — 110.20; TP1 — 110.30; TP2 — 110.10.
Buy — 110.30; SL — 110.10; TP1 — 111.00; TP2 — 111.40.
Reason: bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen; the prices are bounced from Tenkan-sen and going lower in the negative area.

1500957586-3dcc4d3b0e9d38341d309e86e7227f36_1200x1200_q90.png


More:
https://fbs.com/analytics/articles/usd_jpy:_dollar_returned_to_june’s_levels_2440
 
GBP/USD GOT STUCK AT THE BORDER
09:57 25.07.2017

Recommendations:

BUY 1.3120 SL 1.3065 TP1 1.3250 TP2 1.3500

SELL 1.2930 SL 1.2985 TP 1.2810

On the daily chart, there are medium- and long-term trading channels. If GBP/USD rises to June high, it will be able to continue rising towards 200% target of AB=CD pattern. On the other hand, a break below diagonal support and 1.2930 will increase the risks of correction towards the lower border of the medium-term channel.

1500965807-b6b56ed02b1869ac79ae2067aff9ca74_1200x1200_q90.png


On H1, bulls are in control. Never the less, decline below the psychological level of 1.3000 may change everything.

1500965823-2cf183d9aa99dd882e50bd88c66a58cb_1200x1200_q90.png


More:
https://fbs.com/analytics/articles/gbp_usd_got_stuck_at_the_border_2444
 
EUR/USD: 34 MA ACTED AS SUPPORT
10:10 25.07.2017

1500966569-f0cc917fc2b4958cc9d2d87ba582d898_1200x1200_q90.png


The price is consolidating between the levels 1.1679 - 1.1615. Nevertheless, bulls are likely going to reach the next resistance at 1.1712 in the coming hours. If a pullback from this level happens, there'll be an opportunity to have a decline towards the nearest support at 1.1615.

1500966569-f99cecf4f92583c75e796fdf224a1c83_1200x1200_q90.png


The 34 Moving Average has acted as support. Also, the price is testing resistance at 1.1657, which could be a departure point for another decline in the direction of the closest support at 1.1625. Meanwhile, if we see a pullback from this level, bulls will probably try to reach resistance at 1.1679 - 1.1712 afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_34_ma_acted_as_support_2445
 
USD/CHF: FRANC APPROACHED THE TARGET
10:11 25.07.2017

Recommendation: SELL 0.9525 SL 0.9580 TP1 0.9400 TP2 0.9370

On the daily chart, USD/CHF is trading within a downtrend towards 224% and 127.2% targets of AB=CD and “Crab” patterns. To activate the reversal “Wolfe waves” pattern bears have to move the pair above 0.9600.

1500966546-083795b321e38920c618c02f6224a646_1200x1200_q90.png


On H1, USD/CHF reached targets of “three Indians” and “Spike and ledge” patterns. As a result, the pair reached 161.8% targets of AB=CD. This increases the risks of correction towards 0.9525. The short-term outlook for the franc will depend on this level.

1500966562-351a015a31e5fdb2fee97b43bc66aebc_1200x1200_q90.png


More:
https://fbs.com/analytics/articles/usd_chf:_franc_approached_the_target_2446
 
GBP/USD: BULLISH "PENNANT" PATTERN
10:13 25.07.2017

1500966569-157c8778fc8bb6062318b06d2de1aa96_1200x1200_q90.png


Bulls faced resistance at 1.3057, so the price is consolidating. Meanwhile, the pair is likely going to achieve the next resistance at 1.3077 in the short term. If a pullback from this level happens, we should keep an eye on the nearest support at 1.3029 - 1.3006 as a bearish target.

1500966569-cc21088c39881af15cd0f99807ec1111_1200x1200_q90.png


There's a bullish "Pennant" pattern, so the price is likely going to reach the closest resistance at 1.3057 - 1.3077 in the coming hours. Considering a possible pullback from this area, there's an option to have a decline towards the Moving Averages afterwards.

More:
https://fbs.com/analytics/articles/gbp_usd:_bullish_"pennant"_pattern_2447
 
EUR/USD: POSSIBLE TRIANGLE IN WAVE (IV)
11:50 25.07.2017

1500972567-5b6bb0e1aeaae5a6e90140e6155b681d_1200x1200_q90.png


The price is consolidating near 7/8 MM Level. Wave (iv) is likely going to end soon, so we could have another bullish impulse in wave (v) of [v] in the short term. The main intraday target is 8/8 MM Level.

1500972567-492c18b2734a82e8256c1b4bfff4fc60_1200x1200_q90.png


There's a possible triangle in wave (iv). The price is likely going to test the lower side of this pattern during the day. If we have a pullback from this level, there'll be an opportunity to have a new local high.

More:
https://fbs.com/analytics/articles/eur_usd:_possible_triangle_in_wave_(iv)_2451
 
EUR/USD: BULLS TRY TO DELIVER NEW LOCAL HIGH
16:48 25.07.2017

1500990442-c748b736945e6a3b6cba01c5b83d37ba_1200x1200_q90.png


There isn't any reversal pattern so far. However, if we have a pullback from the nearest resistance level, bears are likely going to test the middle of the last group of white candles. Anyway, bulls will probably try to deliver a new local high afterwards.

1500990441-1493e5201dfbfd6782a8ed87f5485ef9_1200x1200_q90.png


All the last candles are bullish. Meanwhile, if we see any bearish pattern in the coming hours, there'll be an opportunity to have a downward correction towards the Moving Averages.

More:
https://fbs.com/analytics/articles/eur_usd:_bulls_try_to_deliver_new_local_high_2462
 
USD/JPY: "HARAMI" AND "THREE METHODS"
16:53 25.07.2017

1500990441-60961ef6cc8fada2f1e4c59664a079eb_1200x1200_q90.png


There are bullish patterns such a "Harami" and a "Three Methods", which both have been confirmed. So, the market is likely going to reach the 55 Moving Average in the short term

1500990442-483fb9512826f912ba31eda68969d8c7_1200x1200_q90.png


The price reached the 55 Moving Average, but we don't have any reversal pattern so far. In this case, the price is likely going to continue moving up during the day. However, we could have a local bearish correction in the next few hours.

More:
https://fbs.com/analytics/articles/usd_jpy:__"harami"_and_"three_methods"_2463
 
USD/JPY: BULLS ARE GETTING MORE ACTIVE
10:41 26.07.2017

Recommendation:

BUY 112.10

SL 111.55

TP1 113.05, TP2 114.05

On the daily chart, USD/JPY recoiled from support at 110.55. This allowed bulls to counter attack. The pair left the long-term descending channel and is testing resistance at 112.05-112.10. If the test is successful, USD/JPY will continue rising. Otherwise, the pair will reverse downwards.

1501054716-3297c54597baddc0779dab87f73568a2_1200x1200_q90.png


On H1, USD/JPY reached targets of an inverted “Head and Shoulders” pattern. As a result, the pair approached resistance at 112.10 (38.2% of the last bearish wave). The break will increase the odds of the inverted “Shark” pattern with a target at 113%.

1501054730-1f50b4d918123f905c31c70a9dfda50a_1200x1200_q90.png


More:
https://fbs.com/analytics/articles/usd_jpy:_bulls_are_getting_more_active_2483
 
NZD/USD: RISKS OF DECLINE
11:00 26.07.2017

Recommendation:

SELL 0.7405

SL 0.7460

TP1 0.7305, TP2 0.7225

On the daily chart, NZD/USD reached 113% target of the inverted “Shark” pattern. As a result, the risks of correction towards 23,6%, 38,2% and 50% of the wave CD increased. The “Shark” pattern may transform into 5-0 pattern. For a start, bears should bring the pair below support at 0.7410.

1501055907-6467c4539d9cfb8852d0c818ebc64579_1200x1200_q90.png


On H1, the break below the lower border of the downtrend and consolidation within the “Spike and ledge” pattern on the basis of 1-2-3 will increase the risks of a pullback with the following triggering of the “Shark” pattern (88.6% and 113%).

1501055925-3696dc2326705fd45dfa7b732beb8b1e_1200x1200_q90.png


More:
https://fbs.com/analytics/articles/nzd_usd:_risks_of_decline_2484
 
EUR/USD: "V-TOP" PATTERN
11:52 26.07.2017

1501059057-fdce66a40d2f95db1049b63be9a33857_1200x1200_q90.png


Bulls faced resistance at 1.1712, so we've got a "V-Top" pattern, which has been confirmed. Therefore, the market is likely going to test the nearest support at 1.1615 - 1.1582. If a pullback from this area happens, the price will probably test the last high.

1501059093-83893d23d4063e375bba520e5c8de7ab_1200x1200_q90.png


We've got a "V-Top" pattern, so the price is testing the 34 Moving Average. In this case, bears are likely going to reach the closest support at 1.1615 - 1.1582 during the day. Meanwhile, there's an opportunity to have another bullish price movement afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_"v_top"_pattern_2486
 
GBP/USD: MARKET GOING TEST NEXT SUPPORT
11:55 26.07.2017

1501059094-f35441504a136c973082c25b81ee052a_1200x1200_q90.png


The price is consolidating. Also, we've got a "V-Top" pattern, so the market is likely going to test the 34 Moving Average in the short term. If a pullback from this line arrives afterwards, bulls will have a green light to achieve the next resistance at 1.3057 - 1.3083.

1501059094-af7a5daac0ff0262b8b22a6aa410446b_1200x1200_q90.png


We've got a bearish "V-Top" pattern, which pushed the price towards the 55 Moving Average. So, the market is likely going to test the next support at 1.2982. If we have a pullback from this level, there'll be an opportunity to have another upward price movement in the direction of resistance at 1.3047 - 1.3057.

More:
https://fbs.com/analytics/articles/gbp_usd:_market_going_test_next_support__2487
 
EUR/USD: 55 MA ACTED AS SUPPORT
12:54 26.07.2017

1501062783-596bc22a3da6145cb705ce7749123a64_1200x1200_q90.png


We've got a bearish "Engulfing", which has been confirmed enough. So, the market is likely going to test the 34 Moving Average. If a pullback from this line happens, there'll be an opportunity to have another upward price movement.

1501062783-0776745cb8780ab48c78fa776dac11e6_1200x1200_q90.png


There are bearish patterns such a "High Wave" and an "Engulfing". The 55 Moving Average has acted as support, so we could have a local upward correction. However, bears are likely going to deliver a new local low afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_55_ma_acted_as_support_2495
 
Top