Market analysis and trade recommendations by FBS

[riki143]

EUR/USD: OUTLOOK IS BULLISH
09:47 18.07.2017

Recommendation:

BUY 1.1480

SL 1.1425

TP1 1.1600 TP2 1.1800.

On the daily chart, bulls managed to break above resistance at 1.1472-1.1480. This put the longer-term bearish trend to an end. Resistance became support, “Bat” pattern turned into “Crab” with interim target of 127.2% at 1.1800.

On H1, EUR/USD is trading within the bullish channel. Bulls are in control. Buy on any pullbacks to the downside.

More:
https://fbs.com/analytics/articles/eur_usd:_outlook_is_bullish_2265

 

[riki143]

USD/CHF: FRANC IS FALLING DOWN
10:03 18.07.2017

Recommendation:

SELL 0.9600

SL 0.9655

TP1 0.9500

TP2 0.9390

On the daily chart, bears are trying to resume the downtrend. If they manage to get below June low, the possibility of the decline to 127.2% and 224% targets of “Crab” and AB=CD patterns will significantly increase.

https://fbs.com/img/articles/2266/1500361251-aeb1743ff7150c0c8f644c6feca11e8f_1200x1200_q90.png[/RIMG]

On H1, USD/CHF formed “Three Indians” pattern. Bears are currently trying to pull the pair outside of 0.9600-0.9690 consolidation range within “Spike and ledge” pattern. Success in this will slow seller to continue the decline.

[IMG]https://fbs.com/img/articles/2266/1500361267-e3bdccdbea000369cfc8976cc4b52981_1200x1200_q90.png

More:
https://fbs.com/analytics/articles/usd_chf:_franc_is_falling_down_2266

 

[riki143]

EUR/USD: LOCAL CORRECTION COMING SOON
10:50 18.07.2017

Bulls faced resistance at 1.1529, so the market is likely going to test the nearest support at 1.1494 in the short term. If a pullback from this area happens, there'll be an opportunity to have another upward price movement towards the next resistance at 1.1529 - 1.1560.

The price is consolidating along resistance at 1.1529. If any bearish pattern forms in the coming hours, the pair is likely going to reach the closest support at 1.1494. However, if we see a pullback from this level, bulls will have a green light to achieve another resistance at 1.1529 - 1.1560.

More:
https://fbs.com/analytics/articles/eur_usd:_local_correction_coming_soon_2269

 

[riki143]

GBP/USD: LOCAL "V-BOTTOM" PATTERN
10:56 18.07.2017

The price faced support at 1.3057, so there's a local "V-Bottom" pattern, which pushed the pair higher. So, the market is likely going to test the next resistance at 1.3137 - 1.3184 soon. At the same time, if a pullback from this area happens, there'll be an option to have a decline in the direction of the nearest support at 1.3047 - 1.3032.

There's a consolidation, which is taking place near resistance at 1.3116. In this case, bulls are likely going to deliver a new local high, so we should keep an eye on the closest resistance at 1.3137 as an intraday target. Considering a possible pullback from this level, we could have a bearish correction afterwards.

More:
https://fbs.com/analytics/articles/gbp_usd:_local_"v_bottom"_pattern_2270

 

[riki143]

CITI: TRADE IDEA FOR GBP/JPY
11:17 18.07.2017

Analysts at Citi recommend buying GBP/JPY at 147.41 with Take Profit at 150.00 with Stop Loss at 145.67.

More:
[OURL=[URL]https://fbs.com/analytics/articles/citi%3a_trade_idea_for_gbp_jpy_2272]https://fbs.com/analytics/articles/citi%3a_trade_idea_for_gbp_jpy_2272[/URL[/URL]]

 

[riki143]

EUR/USD: PULLBACK FROM 6/8 MM LEVEL
12:10 18.07.2017

It's likely that the current ending diagonal pattern has been formed. Therefore, if the price fixates under 5/8 MM Level, bears are going to deliver an impulse in wave (i). The main intraday target is 3/8 MM Level

There's a pullback from 6/8 MM Level. So, if the pair comes back to the upper side of the diagonal, there'll be an opportunity to have wave i of (i). In this case, we should keep in mind 4/8 MM Level as the nearest bearish target.

More:
https://fbs.com/analytics/articles/eur_usd:_pullback_from_6_8_mm_level_2287

 

[riki143]

GBP/USD: POUND DECIDED TO CORRECT
14:25 18.07.2017
Technical levels: support – 1.2980; resistance – 1.3090.

Trade recommendations:

Buy — 1.2980; SL — 1.2960; TP1 — 1.3090; TP2 — 1.3150.
Reason: bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; the prices made a new local highs and corrected to Kijun-sen.

More:
https://fbs.com/analytics/articles/gbp_usd:_pound_decided_to_correct_2295

 

[riki143]

AUD/USD: AUSSIE GOING HIGHER
14:26 18.07.2017
Technical levels: support – 0.7820, 0.7850; resistance – 0.7990.

Trade recommendations:

Sell — 0.7990; SL — 0.7810; TP1 — 0.7910; TP2 — 0.7850.
Reason: bullish Ichimoku Cloud with extremely rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines; the prices are on the new 2Y-highs, but under the strong daily resistance.

More:
https://fbs.com/analytics/articles/aud_usd:_aussie_going_higher_2296

 

[riki143]

EUR/USD: BULLISH "THREE METHODS" PATTERN
15:07 18.07.2017

There's a bullish "Engulfing" pattern, which has been confirmed, so the price reached the nearest resistance level. However, we don't have any reversal pattern so far, which means bulls are likely going to continue pushing the price higher.

We've got a bullish "Three Methods" pattern, so the price is rising. At the same time, there's an opportunity to have a local decline towards the nearest support. If we see a pullback from this level, bulls will be free to move on.

More:
https://fbs.com/analytics/articles/eur_usd%3a_bullish_%22three_methods%22_pattern_2297

 

[riki143]

USD/JPY: "WINDOW" ACTED AS RESISTANCE
15:09 18.07.2017

Bears have broken the "Window", so the price is declining. The 144 Moving Average is acting as support. There isn't any reversal pattern so far. Therefore, the market is likely going to continue falling down in the short term.

The broken "Window" acted as resistance, so there's a "Shooting Star" pattern, which has been confirmed. In this case, the pair is likely going to reach the nearest support area. If any bullish pattern arrives afterwards, there'll be an opportunity to have an upward correction

More:
https://fbs.com/analytics/articles/usd_jpy:_"window"_acted_as_resistance_2298

 

[riki143]

GBP/USD REMEMBERED THE TRIANGLE
10:06 19.07.2017

Recommendation:

SELL 1.3000, SL 1.3055, TP 1.2900

BUY 1.3125 SL 1.3070 TP1 1.3300 TP2 1.3500

On the daily chart, bears are trying to return GBP/USD inside the rising triangle. If they succeed, the possibility of the medium-term consolidation in the 1.2600-1.3000 will increase. On the contrary, rebound from the current support will increase the risks of continuation to the upside, towards 200% target of AB=CD.

On H1, decline below 1.3000 will create the basis for correction to 1.2920 and 1.2900. For the uptrend to resume, the pair has to rise to July high

More:
https://fbs.com/analytics/articles/gbp_usd_remembered_the_triangle_2312

 

[riki143]

NZD/USD: BULLS SHOWED STRENGTH
10:20 19.07.2017

Recommendations:

BUY 0.7370, SL 0.7315, TP1 0.7450, TP2 0.7470

BUY 0.7290, SL 0.7235, TP 0.7450

On the daily chart, inability of bears to lead NZD/USD outside of the bullish trend channel points at their weakness. The condition required for continuation of the rally to 0.7450 (113% target of the “Shark” pattern) is the settlement of the New Zealand’s dollar above support at 0.7345 with the following increase to July high.

On H1, NZD/USD managed to return to the uptrend. As long as the pair is trading above 0.7210, the outlook will remain bullish.

More:
https://fbs.com/analytics/articles/nzd_usd:_bulls_showed_strength_2314

 

[riki143]

GBP/USD: POUND SUPPORTED BY KIJUN-SEN
10:23 19.07.2017

Technical levels: support – 1.3030; resistance – 1.3090, 1.3150.

Trade recommendations:

Buy — 1.3030/40; SL — 1.3010; TP1 — 1.3090; TP2 — 1.3150.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the prices are in the channel of Tenkan-Kijun and supported by Kijun-sen.

More:
https://fbs.com/analytics/articles/gbp_usd:_pound_supported_by_kijun_sen_2315

 

[riki143]

USD/JPY: DOLLAR TESTED SSB’S SUPPORT
10:24 19.07.2017

Technical levels: support – 111.70/80; resistance – 112.60, 113.00.

Trade recommendations:

Buy — 112.10; SL — 111.90; TP1 — 113.00; TP2 — 113.30.
Reason: narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen and the lines are horizontal; the market is in a correction, tested the strong support of Senkou Span B.

More:
https://fbs.com/analytics/articles/usd_jpy:_dollar_tested_ssb’s_support_2317

 

[riki143]

EUR/USD: "V-TOP" PATTERN
11:11 19.07.2017

Bulls faced resistance at 1.1560, so we've got a "V-Top" pattern, which led to the current decline. Therefore, the market is likely going to decline towards the nearest support at 1.1494. If a pullback from this level happens, we could have another upward price movement in the direction of the next resistance at 1.1582.

We've got a "V-Top" pattern, so the pair found support at 1.1529. In this case, the pair is likely going to reach the closest resistance at 1.1560. However, if we see a pullback from this level, bears will have a green light to achieve the 34 Moving Average.

More:
https://fbs.com/analytics/articles/eur_usd:_"v_top"_pattern_2319

 

[riki143]

GBP/USD: CONSOLIDATION ALONG 55 MA
11:15 19.07.2017

There's a "Double Top" pattern, which has been confirmed. Therefore, the pair is likely going to test the nearest support at 1.2982 in the short term. If we have a pullback from this level, there'll be an opportunity to see the price even higher. So, we should keep in mind the next resistance at 1.3116 as an intraday target

The price is consolidating along the 55 Moving Average. It's likely that the market is going to reach the closest resistance at 1.3077 during the day. If a pullback from this level happens, we're likely going to have another decline towards the next support at 1.3006 - 1.2982.

More:
https://fbs.com/analytics/articles/gbp_usd:_consolidation_along_55_ma_2320

 

[riki143]

EUR/USD: PULLBACK FROM 7/8 MM LEVEL
13:36 19.07.2017

It seems like we've got a bullish impulse in wave C. Also, there's a triangle in wave [iv]. So, there's an opportunity to have wave in the short term. The main intraday target is 3/8 MM Level.

There's a pullback from 7/8 MM Level, so wave [v] of C may have been ended. Moreover, we've got a bearish impulse in wave (i). It's likely that bulls are going to deliver wave (ii) soon, so we could have the next bearish wave (iii) during the day.

More:
https://fbs.com/analytics/articles/eur_usd:_pullback_from_7_8_mm_level_2327

 

[riki143]

EUR/USD: "TOWER" LED TO DECLINE
15:43 19.07.2017

There's a bearish "Shooting Star" pattern, which has been confirmed. Therefore, the market is likely going to test the nearest support level, which could be a departure point for another upward price movement.

The last bearish "Tower" pattern led to the current decline. However, there's a bullish "Hammer", so we could have a local upward correction during the day. Meanwhile, bears are likely going to deliver a new local low later on.

More:
https://fbs.com/analytics/articles/eur_usd:_"tower"_led_to_decline_2330

 

[riki143]

USD/JPY: PRICE FIXATED UNDER "WINDOW"
15:46 19.07.2017

There are a "Hammer" and a "Harami", but both patterns remain unconfirmed. The 144 Moving Average is acting as resistance. In this case, bears are likely going to continue pushing the price lower

The pair has fixated under the "Window", so the price is consolidating. Therefore, the decline is likely going to be continued, but if any bullish pattern arrives afterwards there'll be an opportunity to have a correction.

More:
https://fbs.com/analytics/articles/usd_jpy:_price_fixated_under_"window"_2331

 

[riki143]

GOLD IS IN TROUBLE
10:02 20.07.2017

Recommendation:

SELL $1236

SL $1246

TP1 $1224 TP2 $1210

On the daily chart, gold is testing the neckline of the “Head and Shoulders” pattern. The break of the inside bar’s low and the following decline below the diagonal support will mean the return of power to bears. The condition necessary for the resumption of the downtrend is successful test of supports at $1230 and $1220 per ounce.

On H1, the pattern “Spike and reversal with acceleration” is in place. The first of the two trend lines was broken. Bears need to pull the price below the support at $1236 to regain power.

More:
https://fbs.com/analytics/articles/gold_is_in_trouble__2348