Market analysis and trade recommendations by FBS

[riki143]

EUR/CHF BROKE KEY RESISTANCE LEVEL 1.0900
16:15 08.05.2017

EUR/CHF broke key resistance level 1.0900
Next buy target - 1.0976
EUR/CHF has been rising sharply in the last few trading sessions inside the minor impulse wave (iii) – which started earlier from the support level (former strong resistance level from March, acting as support fare it was broken previously). The pair today broke above the key resistance level 1.0900 (top of the earlier sharp B-wave from December).

If the pair closes today above resistance level 1.0900 - EUR/CHF can then be expected to rise to the next buy target at the next resistance level 1.0975 (former strong resistance from September and the target price calculated for the completion of the active impulse wave 3).

More:
https://fbs.com/analytics/articles/eur/chf_broke_key_resistance_level_1.0900_920

 

[riki143]

EUR/USD: LOCAL BULLISH IMPULSE
17:07 08.05.2017

There's wave 2, which is taking the form of a double zigzag. Also, we've got a zigzag in wave [y], so wave (c) is likely going to be continued. The main intraday target is 7/8 MM Level.

As you can see on the one-hour chart, there's a possible flat pattern in wave ii. So, bulls are likely going to deliver another upward impulse in wave iii of (c) in the coming hours.

More:
https://fbs.com/analytics/articles/eur/usd:_local_bullish_impulse_922

 

[riki143]

EUR/USD: "TRIPLE TOP" STOPPED BULLS
08:10 09.05.2017

We've got a "Triple Top", so there's a correction, which is taking place on the four-hours chart. Therefore, the market is likely going to decline towards support at 1.0874 - 1.0851. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of resistance 1.0905 - 1.0910.

The last "Pennant" has been broken, so bears faced support at 1.0905. In this case, bulls are likely going to test resistance at 1.0936, which could be a departure point for another decline towards support at 1.0874.

More:
https://fbs.com/analytics/articles/eur/usd:_"triple_top"_stopped_bulls_932

 

[riki143]

GBP/USD: BEARISH "FLAG"
08:14 09.05.2017

Bulls faced resistance at 1.2995, so we've got a "Double Top" pattern, which has been confirmed. Therefore, the pair is likely going to test the 34 Moving Average. If a pullback from this line happens, bulls will probably try to test resistance at 1.2945 - 1.2964.

We've got a "Double Top" pattern, which has been confirmed by the last "Flag". The 55 Moving Average acted as support, so bulls are likely going to test resistance at 1.2955 - 1.2964 during the day. Considering a possible pullback from this area, we could have a decline towards support at 1.2913 - 1.2900 afterwards.

More:
https://fbs.com/analytics/articles/gbp/usd:_bearish_"flag"_933

 

[riki143]

Key option levels for Tuesday, May 9th
9/5/2017

If you have any questions or requests fill out the feedback form.

EUR/USD

Main trend Short-term period Medium-term period
Bearish Neutral
Changes in the open interest - 681 ↓ + 32 459 ↑
Closest resistance levels 1.0955; 1.0991; 1.1024; 1.1047
Closest support levels 1.0923; 1.0880; 1.0857; 1.0830
Trading recommendations
Baseline scenario Short EUR/USD from 1.0923 (Sell Limit), with target points at 1.0880 and 1.0857
Alternative scenario Moving above 1.0955 can be considered as a signal to Buy the pair, with target at 1.0991 and 1.1024


USD/JPY

Main trend Short-term period Medium-term period
Bearish Neutral
Changes in the open interest - 88 ↓ + 510 ↑
Closest resistance levels 113.69; 113.97; 114.34; 114.76
Closest support levels 113.30; 112.88; 112.57; 112.21
Trading recommendations
Baseline scenario Short USD/JPY below 113.30, with target points at 112.88 and 112.57
Alternative scenario Moving above 113.69 can be considered as a signal to Buy the pair, with target at 113.97 and 114.34


USD/CAD

Main trend Short-term period Medium-term period
Bearish Neutral
Changes in the open interest + 11 ↑ + 312 ↑
Closest resistance levels 1.3701; 1.3731; 1.3761; 1.3803
Closest support levels 1.3686; 1.3644; 1.3618; 1.3583
Trading recommendations
Baseline scenario Short USD/CAD below 1.3686, with the target points at 1.3644 and 1.3618
Alternative scenario Moving above 1.3701 can be considered as a signal to Buy the pair, with target at 1.3731 and 1.3761

More:
https://fxbazooka.com/analytics/13151

 

[riki143]

EUR/USD: BEARS GOING TO TEST NEXT "WINDOW"
14:10 09.05.2017

Bears have reached the lower "Window", so if any bullish pattern arrives, there'll be an opportunity to have a local upward correction. However, we could have a decline towards the 55 Moving Average afterwards.

The price has been falling since a "Hanging Man" formed at the last high. At the same time, we're likely going to have an upward correction towards the nearest "Window", which could be a departure point for another decline.

More:
https://fbs.com/analytics/articles/eur/usd:_bears_going_to_test_next_"window"_934

 

[riki143]

USD/JPY: BULLISH "THREE METHODS"
14:13 09.05.2017

We've got a "Three Methods" pattern, which has been confirmed. In this case, the market is likely going to continue moving up in the direction of the next resistance level.

There isn't any reversal pattern so far, which means bulls are likely going to continue pushing the price even higher. If a pullback from the upper "Window" is on the table, there'll be an option to have a bearish correction.

More:
https://fbs.com/analytics/articles/usd/jpy:_bullish_"three_methods"_935

 

[riki143]

EUR/USD: BEARISH IMPULSE ARRIVED
14:47 09.05.2017

There's a pullback from 6/8 MM Level, so wave 2 may have been ended like a double zigzag. Therefore, the market is likely going to form a bearish impulse in wave (i) in the short term.

More:
https://fbs.com/analytics/articles/eur/usd:_bearish_impulse_arrived_936

 

[riki143]

USD/JPY BROKE DAILY DOWN CHANNEL
16:17 09.05.2017

USD/JPY broke daily down channel
Next buy target - 115.40

USD/JPY has been rising sharply in the last few trading sessions inside the intermediate impulse wave (3) - which belongs to the long-term upward impulse wave ③ from April. The price earlier broke the resistance trendline of the daily down channel from December – which accelerated the active impulse waves (3) and ③.

USD/JPY is expected to rise to the next buy target at the next resistance level 115.40 (former top of the earlier (B)-wave of the primary ABC correction ② from December, which was enclosed by the aforementioned down channel).

More:
https://fbs.com/analytics/articles/usd/jpy_broke_daily_down_channel_937

 

[riki143]

GBP/CHF BROKE PIVOTAL RESISTANCE LEVEL 1.2890
16:19 09.05.2017

GBP/CHF broke pivotal resistance level 1.2890
Next buy target - 1.3120
GBP/CHF continues to rise inside the minor impulse wave (v) – which belongs to the impulse 3 from the middle of March. The price earlier broke above the pivotal resistance level 1.2890 (which stopped the previous waves (A), ii and (i), as can be seen from the daily GBP/CHF chart below). The breakout of this resistance level intensified the bullish pressure on this currency pair.

GBP/CHF is expected to rise to the next buy target at the next resistance level 1.3120 (top of the previous intermediate correction (B) from September and the target price for the completion of the active impulse wave 3).

More:
https://fbs.com/analytics/articles/gbp/chf_broke_pivotal_resistance_level_1.2890_938

 

[riki143]

USD/CAD: LOONIE WENT TO SWEET ZONE
07:27 10.05.2017
Recommendation:

SELL 1.3650
SL 1.3705
TP1 1.3525, TP2 1.3370
On the daily chart, USD/CAD reached 127.2% target of the inverted "butterfly" pattern. At the present time, the quotes are in the Sweet Zone of the "Wolfe Waves" pattern. A movement to the downside is possible from this area.

On H1 USD/CAD keeps forming reversal 1-2-3 pattern. Together with the "3 Indians" pattern, it forms the powerful bearish combo. The lower border of the uptrend may be simultaneously breached. This is a selling signal, which points at 161.8% target of the "Crab" pattern.

More:
https://fbs.com/analytics/articles/usd/cad:_loonie_went_to_sweet_zone_949

 

[riki143]

USD/JPY: BULLS WILL MAKE A STOP
07:36 10.05.2017
Recommendation

BUY 112.85, SL 112.30, TP 114.00
BUY 111.85, SL 111.3, TP 114.00.
On the daily USD/JPY chart, the pair ran into the convergence area of 114-114.55 (23.8% of the long-term bullish wave – 61.8% of the descending medium-term wave). This together with the realization of the interim target of 78.6% of the inverted "Shark" pattern creates the potential for the short-term correction.

On H1, USD/JPY wasn't able to overcome resistance at 113.93 (78.6% of the last descending wave) that points at the weakness of bulls. The pair may now return to support at 112.85 and 111.85.

More:
https://fbs.com/analytics/articles/usd/jpy:_bulls_will_make_a_stop_950

 

[riki143]

EUR/USD: BEARS BROKE LOCAL TREND
07:49 10.05.2017

The price is still declining, but bears faced support on the 55 Moving Average. Nevertheless, the market is likely going to reach the next support at 1.0851, which could be a departure point for an upward movement in the direction of resistance at 1.0905 - 1.0910.

There's a local "V-Bottom", so the price is consolidating. In this case, bulls are likely going to achieve the 89 Moving Average in the coming hours. If a pullback from this line happens, bears will probably try to reach support at 1.0851.

More:
https://fbs.com/analytics/articles/eur/usd:_bears_broke_local_trend_951

 

[riki143]

GBP/USD: "RISING WEDGE"
07:53 10.05.2017

Bulls found resistance at 1.2995, which pushed the price a little bit lower. Also, we've got a "Rising Wedge", so the pair is likely going to test the nearest resistance at 1.3023. If a pullback from this level happens, there'll be an opportunity to have a decline towards support at 1.2945 - 1.2913.

There's a "V-Bottom" pattern, which has been formed on the 89 Moving Average. At the same time, there's strong resistance by the last "Double Top", so the price is likely going to test the nearest support at 1.2964 - 1.2953. If a pullback from these levels happens, there'll be an option to have an upward price movement towards the closest resistance at 1.2995 - 1.3023.

More:
https://fbs.com/analytics/articles/gbp/usd:_"rising_wedge"_952

 

[riki143]

Key option levels for Wednesday, May 10th
10/05/2017

If you have any questions or requests fill out the feedback form.

EUR/USD

Main trend Short-term period Medium-term period
Bullish Neutral
Changes in the open interest + 10 450 ↑ - 101 364 ↓
Closest resistance levels 1.0890; 1.0915; 1.0941; 1.0984
Closest support levels 1.0871; 1.0843; 1.0805; 1.0748
Trading recommendations
Baseline scenario Long EUR/USD above 1.0890, with target points at 1.0915 and 1.0941
Alternative scenario Moving below 1.0871 can be considered as a signal to Sell the pair, with target at 1.0843 and 1.0805

USD/CAD

Main trend Short-term period Medium-term period
Bearish Neutral
Changes in the open interest - 33 ↓ + 723 ↑
Closest resistance levels 1.3725; 1.3749; 1.3774; 1.3814
Closest support levels 1.3712; 1.3665; 1.3637; 1.3598
Trading recommendations
Baseline scenario Short USD/CAD below 1.3712, with the target points at 1.3665 and 1.3637
Alternative scenario Moving above 1.3725 can be considered as a signal to Buy the pair, with target at 1.3749 and 1.3774

AUD/USD

Main trend Short-term period Medium-term period
Bullish Bearish
Changes in the open interest + 533 ↑ + 231 ↑
Closest resistance levels 0.7356; 0.7386; 0.7408(?); 0.7438
Closest support levels 0.7326; 0.7293; 0.7273; 0.7245
Trading recommendations
Baseline scenario Long AUD/USD above 0.7356, with the target points at 0.7386 and 0.7408
Alternative scenario Moving below 0.7326 can be considered as a signal to Sell the pair, with target at 0.7293 and 0.7273

More:
https://fxbazooka.com/analytics/13156

 

[riki143]

EUR/USD: PRICE REACHED "WINDOW"
12:19 10.05.2017

The current bearish correction is continuing, so the price reached a "Window" and the 55 Moving Average. Considering that there isn't any reversal pattern so far, the market is likely going to fall towards the next "Window".

There's a bearish "Tweezers", which has been confirmed. Therefore, bears are likely going to push the price even lower in the short term. If any bullish pattern arrives afterwards, there'll be an opportunity to have a correction.

More:
https://fbs.com/analytics/articles/eur/usd:_price_reached_"window"_955

 

[riki143]

USD/JPY: NEXT "WINDOW" WAITING FOR BULLS
12:24 10.05.2017

We've got a bearish "Engulfing", but a confirmation of this pattern is quite weak. So, the market is likely going to reach the 21 Moving Average, which could be a departure point for another bullish rally in the direction of the upper "Window".

The price has reached the 21 Moving Average. Also, we've got a bearish "Harami", which has confirmation. Therefore, there's an opportunity to have a new local low in the coming hours.

More:
https://fbs.com/analytics/articles/usd/jpy:_next_"window"_waiting_for_bulls_956

 

[riki143]

AUD/NZD BROKE SUPPORT ZONE
14:28 10.05.2017

AUD/NZD broke support zone
Next sell target - 1.0560
AUD/NZD continues to decline after the earlier breakout of the support zone lying between the support level 1.0650 (which has been reversing the price from February, as can be seen from the daily AUD/NZD chart below) and the 50% Fibonacci correction of the earlier sharp C-wave from the end of January.

AUD/NZD is expected to fall to the next sell target at the next support level 1.0560 (former monthly high from January). Sell stop-loss can be placed above the aforementioned price level 1.0650.

More:
https://fbs.com/analytics/articles/aud_nzd_broke_support_zone_957

 

[riki143]

NZD/CHF REVERSED FROM KEY SUPPORT ZONE
14:30 10.05.2017

NZD/CHF reversed from key support zone
Next buy target - 0.7060
NZD/CHF has been rising from the start of this week – following the earlier sharp upward reversal from the key support zone lying between the support level 0.6800 (former powerful resistance level from the end of 2015 and the start of 2016, as can be seen below), lower weekly Bollinger Band and the 38.2% Fibonacci correction of the pervious weekly upward ABC correction ? from the middle of May.

NZD/CHF is expected to rise to the next buy target at the next resistance level 0.7060 (top of the previous intermediate wave (2) from April).

More:
https://fbs.com/analytics/articles/nzd_chf_reversed_from_key_support_zone_958

 

[riki143]

GBP/USD: POUND STUCK IN CONSOLIDATION
05:15 11.05.2017
Technical levels: support – 1.2910; resistance – 1.2950, 1.2980.

Trade recommendations:

1. Buy — 1.2960; SL — 1.2940; TP1 — 1.3050.

2. Sell — 1.2930; SL — 1.2950; TP1 — 1.2810; TP2 — 1.2710.

Reason: bullish Ichimoku Cloud, horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen over the Cloud; the prices are under the resistance of Tenkan-sen and Kijun-sen.

More:
https://fbs.com/analytics/articles/gbp_usd:_pound_stuck_in_consolidation_967