Market analysis and trade recommendations by FBS

[riki143]

USD/JPY: BEARISH "HARAMI"
12:56 26.07.2017

The last bullish "Three Methods" pushed the price to the 144 Moving Average. At the same time, there's a bearish "High Wave", but this pattern hasn't been confirmed yet. So, the pair is likely going to test the nearest support, which could be a departure point for another bullish price movement.

We've got a bearish "Harami", but this pattern hasn't been confirmed yet. If the price fixates under the 55 Moving Average, the market is likely going to continue declining in the short term.

More:
https://fbs.com/analytics/articles/usd_jpy:__bearish_"harami"_2497

 

[riki143]

EUR/USD: PRICE FIXATED UNDER 7/8 MM LEVEL
13:47 26.07.2017

The price fixated under 7/8 MM Level, so wave [v] of 3 may have been formed. Therefore, we could have a downward impulse in wave [a]. The main intraday target is 5/8 MM Level.

The last triangle in wave (iv) led to form wave (v) of [v]. Also, we've got bearish wave (i). It seems like wave (ii) is about to end, so we could have another downward impulse in wave (iii) soon.

More:
https://fbs.com/analytics/articles/eur_usd:_price_fixated_under_7_8_mm_level_2499

 

[riki143]

EUR/USD: CONFIRMED "V-TOP" PATTERN
11:13 27.07.2017

Bulls faced resistance at 1.1757, so we've got a "V-Top" pattern, which pushed the price lower. So, the market is likely going to decline towards the nearest support at 1.1712. If a pullback from this level happens, there'll be an opportunity to have another upward price movement in the direction of the next resistance at 1.1757 - 1.1801.

We've got a "V-Top", which has been confirmed, so the price is consolidating. In this case, bears are likely going to reach the closest support at 1.1712 - 1.1679. However, if we have a pullback from this area, bulls will probably try to test another resistance at 1.1776 - 1.1801.

More:
https://fbs.com/analytics/articles/eur_usd:_confirmed_"v_top"_pattern_2524

 

[riki143]

GBP/USD: MARKET WILL RISE EVEN HIGHER
11:17 27.07.2017

The price has achieved resistance at 1.3137. If a pullback from this level happens, bears are likely going to test the nearest support at 1.3116 - 1.3082. However, the market will probably rise even higher, so we should keep in mind the next resistance at 1.3184 - 1.3234 as an intraday target.

There's a "V-Top" pattern, which led to the current consolidation. Therefore, the pair is likely going to decline towards the closest support at 1.3105 - 1.3082. If we see a pullback from these levels, there'll be an option to have a local upward price movement in the direction of the next resistance at 1.3156 - 1.3184.

More:
https://fbs.com/analytics/articles/gbp_usd:_market_will_rise_even_higher_2525

 

[riki143]

GOLD IS RETURNING HOME
12:09 27.07.2017

On the daily chart, after the false break of the neckline of the “Head and shoulders” pattern and successful test of $1255 bulls are trying to return the price inside the previous uptrend channel. If they succeed, the possibility of the uptrend’s resumption will significantly increase. On the other hand, recoil from the diagonal resistance to the downside will return power to bears.

On H1, gold is trading within a rising channel. The nearest resistance is at $1276-1279 per ounce (200% target of AB=CD + 78.6% of the last descending wave).

More:
https://fbs.com/analytics/articles/gold_is_returning_home_2532

 

[riki143]

AUD/USD IS AIMING HIGH
12:19 27.07.2017

Recommendation:

BUY 0.8015, SL 0.7960, TP1 0.8100 TP2 0.8200

BUY 0.7965 SL 0.7910 TP1 0.8100 TP2 0.8200

On the daily chart, AUD/USD returned to the uptrend after the consolidation. The pair keeps aiming to 0.8200. As long as it’s trading above 0.7965, bulls are in no danger. The main strategy is to buy Aussie on the pullbacks to the downside.

On H1, AUD/USD has made the “Spike and Ledge” pattern on the basis of 1-2-3. The pair aims for the 200%target of AB=CD. The nearest support levels are at 0.8015 and 0.7965.

More:
https://fbs.com/analytics/articles/aud_usd_is_aiming_high_2533

 

[riki143]

EUR/USD: "SHOOTING STAR" AND "ENGULFING"
15:43 27.07.2017

We've got bearish patterns such a "Shooting Star" and an "Engulfing", which both have been confirmed enough. So, the market is likely going to test the nearest support by the middle of the last white candle.

There are a "Shooting Star" and a "Harami". Considering confirmation of these patterns, bears are likely going to reach the Moving Averages. If a pullback from these lines happens, we could have another upward price movement.

More:
https://fbs.com/analytics/articles/eur_usd:_"shooting_star"_and_"engulfing"_2540

 

[riki143]

USD/JPY: BEARISH "ENGULFING"
15:45 27.07.2017

The 55 Moving Average has acted as resistance, so there's a bearish "Engulfing". However, we also have a bullish "Doji", so there's time for a local upward correction. Anyway, bears are likely going to test the last low in the short term.

The price has reached the 34 MA, but we don't have any reversal pattern so far. Therefore, bulls are likely going to test the middle of the black candle's group during the day. If any bearish pattern arrives afterwards, there'll be an opportunity to have another decline.

More:
https://fbs.com/analytics/articles/usd_jpy:__bearish_"engulfing"_2541

 

[riki143]

EUR/USD: +1/8 MM LEVEL ACTED AS RESISTANCE
19:13 27.07.2017

We've got a pullback from +2/8 MM Level, so wave [v] of 3 may have been ended. So, there's a developing impulse in wave . However, if a pullback from 5/8 MM Level happens, there'll be an opportunity to have a local upward correction.

+1/8 MM Level acted as resistance, so the price is declining in wave [a]. The main intraday target is 4/8 MM Level. Therefore, the low of wave (iv) of [v] is likely going to be broken soon.

More:
https://fbs.com/analytics/articles/eur_usd:_+1_8_mm_level_acted_as_resistance_2542

 

[riki143]

AUD/USD: AUSSIE READY TO CONTINUE UPTREND
09:10 28.07.2017

Technical levels: support – 0.7970, 7930; resistance – 0.8020, 0.8080.

Trade recommendations:

Buy — 0.7970; SL — 0.7950; TP1 — 0.8020; TP2 — 0.8080.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; the prices are on the support of Tenkan-sen and Kijun-sen.

More:
https://fbs.com/analytics/articles/aud_usd:_aussie_ready_to_continue_uptrend_2553

 

[riki143]

USD/JPY: DOLLAR MAY GOING LOWER
09:11 28.07.2017

Technical levels: support – 110.70/80; resistance – 111.20.

Trade recommendations:

Sell — 111.00; SL — 111.20; TP1 — 110.45; TP2 — 109.80.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen and the lines are horizontal; the prices are under Tenkan-sen and Kujin-sen and ready to go to new lows.

More:
https://fbs.com/analytics/articles/usd_jpy:_dollar_may_going_lower_2554

 

[riki143]

EUR/USD: "V-TOP" PATTERN
10:14 28.07.2017

We've got a "V-Top" pattern, so the price reached the nearest support at 1.1657. However, bears are likely going to test the 34 Moving Average in the short term. If a pullback from this line happens, there'll be an opportunity to have another upward price movement in the direction of the closest resistance at 1.1712 - 1.1757.

The price is consolidating near the 55 Moving Average. Also, there's a "Pennant" pattern, so the pair is likely going to decline in the direction of the 89 MA. If we have a pullback from this line, bulls will have a green light to achieve resistance at 1.1712 - 1.1757.

More:
https://fbs.com/analytics/articles/eur_usd:_"v_top"_pattern_2556

 

[riki143]

GBP/USD: BEARISH "PENNANT" PATTERN
10:16 28.07.2017

Bulls faced resistance at 1.3137, so there's a "Double Top" pattern, which pushed the price to support at 1.3057. It's likely that bears are going to reach another support at 1.3029 in the short term. Meanwhile, if a pullback from this level arrives afterwards, there'll be an option to have an upward price movement in the direction of the nearest resistance at 1.3158 - 1.3184.

The price is consolidating above support at 1.3057. At the same time, there's a "Pennant" pattern, so the market is likely going to achieve the next support 1.3029 during the day. If a pullback from this level happens, we should keep an eye on the next resistance as an intraday target.

More:
https://fbs.com/analytics/articles/gbp_usd:_bearish_"pennant"_pattern_2557

 

[riki143]

EUR/USD: BEARS GOING TO MOVE ON
10:28 28.07.2017

We've got bearish patterns such a "Shooting Star", a "Three Black Crows" and an "Engulfing", which all have been confirmed enough. So, bears are likely going to continue pushing the price lower, which means we could have a new local low soon.

There's a confirmed bullish "Harami" on the 55 Moving Average. Therefore, the price is likely going to test the nearest resistance level, which could be a departure point for another decline.

More:
https://fbs.com/analytics/articles/eur_usd:_bears_going_to_move_on_2559

 

[riki143]

USD/JPY: PRICE REACHED LOWER "WINDOW"
10:30 28.07.2017

The middle of the last black candle has acted as resistance, so we've got a "Shooting Star" pattern. However, we could have a local upward correction in the short term. Nevertheless, bears are likely going to deliver a new local low afterwards.

The price reached the lower "Window", but there isn't any reversal pattern so far. In this case, we could have just a local bullish correction. Anyway, it's likely that the market is going to continue declining until any bullish pattern forms.

More:
https://fbs.com/analytics/articles/usd_jpy:__price_reached_lower_"window"_2560

 

[riki143]

EUR/USD: EURO GATHERS STRENGTH
09:20 31.07.2017

Technical levels: support – 1.1700; resistance – 1.1830.

Trade recommendations:

Buy — 1.1700; SL — 1.1680; TP1 — 1.1780; TP2 – 1.1830.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen with horizontal Tenkan-sen and Kijun-sen; the market is in consolidation on Tenkan-sen and Kijun-sen.

More:
https://fbs.com/analytics/articles/eur_usd:_euro_gathers_strength_2572

 

[riki143]

AUD/USD: BULLS TEMPORARILY QUIETED DOWN
09:21 31.07.2017

Technical levels: support – 0.7970, 7930; resistance – 0.8020, 0.8080.

Trade recommendations:

Buy — 0.7970; SL — 0.7950; TP1 — 0.8020; TP2 — 0.8080.
Reason: bullish Ichimoku Cloud, but falling Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the prices are on the support of Tenkan-sen and Kijun-sen and the Cloud.

More:
https://fbs.com/analytics/articles/aud_usd:_bulls_temporarily_quieted_down_2573

 

[riki143]

EUR/USD: CONFIRMED "TRIPE TOP"
09:49 31.07.2017

Bulls faced resistance at 1.1757, so the price is consolidating. Therefore, we should keep an eye on the nearest support at 1.1679 as an intraday target. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1776 - 1.1801.

The price is consolidating under resistance at 1.1757. Also, there's a "Tripe Top" pattern, which has been confirmed. So, bears are likely going to test the 55 & 89 Moving Averages. Meanwhile, if we have a pullback from these lines, bulls will probably try to achieve another resistance at 1.1776 - 1.1801.

More:
https://fbs.com/analytics/articles/eur_usd:_confirmed_"tripe_top"_2577

 

[riki143]

GBP/USD: "V-TOP" PATTERN
09:51 31.07.2017

The price faced resistance at 1.3158, so we've got a "V-Top" pattern, which pushed the pair to support at 1.3116. In this case, bears are likely going to test the next support at 1.3083 during the day. If a pullback from this level happens, there'll be an option to have a new local high.

More:
https://fbs.com/analytics/articles/gbp_usd:_"v_top"_pattern_2578

 

[riki143]

GBP/USD: THE RISK OF REVERSAL
09:55 31.07.2017
Recommendations:

SELL 1.3060, SL 1.3115, TP 1.2950

BUY 1.3160, SL 1.3105, TP 1.3260

On the daily chart, bears are trying to return GBP/USD inside the previous consolidation range of 1.2930-1.3120. If the pair comes down to its middle, the reversal “Spike and ledge” pattern will be formed. On the other hand, an increase to June high will make GBP/USD continue rising to 200% target of AB=CD pattern.

On H1, the Double Top in the area of the third Indian of the “Three Indians” pattern is a strong reversal sign. The break below support at 1.3060 and 1.3000 will lead to a correction.

More:
https://fbs.com/analytics/articles/gbp_usd:_the_risk_of_reversal_2579