Market analysis and trade recommendations by FBS

[riki143]

USD/JPY: YEN FOUND A DRAGON
11:14 07.08.2017

Recommendation:

BUY 111.05

SL 110.6

TP1 111.65

TP2 112.15

On the daily chart, USD/JPY managed to overcome resistance at 100.52 (23.6% of the long-term descending wave) and quit the uptrend channel. To prove the seriousness of their intentions, bulls need to hold positions.

On H1, USD/JPY keeps forming the reversal “Dragon” pattern. To move up and keep forming the dragon’s head at the level of the dragon’s head (111.6) bulls need to conquer resistance at 110.92 and renew correction low at 111.05.

More:
https://fbs.com/analytics/articles/usd_jpy:_yen_found_a_dragon_2770

 

[riki143]

EUR/JPY: BULLS MADE A STOP
11:36 07.08.2017

Recommendation:

SELL 129.5, SL 130.05, TP1 128.5, TP2 127.95

BUY 130.2, SL 129.65, TP1 131.2, TP2 134.00

On the daily chart, EUR/JPY starts consolidating in the 128.5-131.3. If support at 128.5 fails, the pair may decline to 88.6% target of the “Shark” pattern.

On H1, if bulls fail to renew August high in the near term, “Shakeout-Fakeout” may form. The pair was trading in the 128.5-130.5 range for several weeks. Return to its middle will mean a false breakout.

More:
https://fbs.com/analytics/articles/eur_jpy:_bulls_made_a_stop_2771

 

[riki143]

EUR/USD: "HAMMER" LED TO BULLISH CORRECTION
14:19 07.08.2017

The last "Shooting Star" and "Engulfing" patterns have been confirmed, but the 34 Moving Average has acted as support. So, we could have a local upward correction in the short term. Nevertheless, bears are likely going to test the 55 MA afterwards.

There's an "Inverted Hammer" at the last low, so the price is rising. It's likely that the market is going to continue moving up towards the nearest resistance area. If any bearish pattern arrives later on, we could have just another decline.]

More:
https://fbs.com/analytics/articles/eur_usd:_"hammer"_led_to_bullish_correction_2776

 

[riki143]

USD/JPY: "WINDOW" ACTED AS SUPPORT
14:21 07.08.2017

The lower "Window" has acted as support, so there are bullish patterns such a "Hammer" and a "Doji". In this case, we should keep an eye on the 89 Moving Average as an intraday target, which could bring any bearish pattern afterwards.

We've got a pullback from the upper "Window", so there's a "Shooting Star". However, confirmation of this pattern is a quite weak, so we could have one more test of the "Window". If another pullback arrives later on, there'll be an opportunity to have a decline towards the Moving Averages.

More:
https://fbs.com/analytics/articles/usd_jpy:_"window"_acted_as_support_2777

 

[riki143]

NZD/CHF FALLING INSIDE PRIMARY IMPULSE WAVE ?
20:21 07.08.2017

NZD/CHF falling inside primary impulse wave ?
Next buy target - 0.9800
NZD/CHF continues to fall inside the primary impulse wave ?, which started earlier from the resistance zone lying between the key resistance level 0.7320 (which stopped the previous impulse waves 3 and 5,as can be seen from the weekly NZD/CHF chart below) and the upper weekly Bollinger Band. Given the strength of the aforementioned resistance zone and the overbought reading on the weekly Stochastic indicator - NZD/CHF is expected to fall further to next sell target at the next round support level 0.7000 (which reversed earlier wave B).

More:
https://fbs.com/analytics/articles/nzd_chf_falling_inside_primary_impulse_wave_③_2782

 

[riki143]

EUR/NZD REVERSED FROM SUPPORT ZONE
20:22 07.08.2017

EUR/NZD reversed from support zone
Next buy target - 1.6200
EUR/NZD continues to rise inside the minor impulse wave (iii) which earlier reversed up from the key support zone lying between the support level 1.5890 (which stopped the previous impulse wave (i) in the middle of June, as can be seen below) and the 38.2% Fibonacci correction of the previous sharp upward impulse from the end of July. EUR/NZD is expected to rise further to the next buy target at the next resistance level 1.6200 (top of the earlier wave A and the target price for the completion of the active impulse (iii)).

More:
https://fbs.com/analytics/articles/eur_nzd_reversed_from_support_zone_2783

 

[riki143]

USD/JPY: BULLS PREVENTED BY CLOUD
11:34 08.08.2017

Technical levels: support – 110.00, 110.40; resistance – 110.70.

Trade recommendations:

Sell — 110.40; SL — 110.60; TP1 — 110.00; TP2 — 109.60.
Buy — 110.80; SL — 110.60; TP1 — 111.40; TP2 — 111.80.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a corretional dead cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the Cloud’s resistance is under the bull’s attack.

More:
https://fbs.com/analytics/articles/usd_jpy:_bulls_prevented_by_cloud_2806

 

[riki143]

EUR/USD: 34 MA ACTED AS SUPPORT
10:46 08.08.2017

The 34 Moving Average has acted as support, so the price is consolidating. Nevertheless, bears are likely going to test the next support at 1.1757, so we could have a new low soon. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.1801 - 1.1845.

There's a "V-Top" pattern, so the market is likely going to reach the closest support at 1.1757 - 1.1727. However, if we see a pullback from this area, bulls will probably try to achieve resistance between the levels 1.1801 - 1.1818.

More:
https://fbs.com/analytics/articles/eur_usd:_34_ma_acted_as_support_2801

 

[riki143]

AUD/USD IS CHASING THE “SHARK”
10:04 08.08.2017

Recommendation:

SELL 0.7880, SL 0.7935, TP 0.7760

On the daily chart, AUD/USD keeps correction to the uptrend. For its further development bears need to pull the prices below 0.7900 and renew correction low at 0.7875. In this case, the “Shark” pattern will be triggered. Its 88.6% target corresponds to the lower border of the medium-term uptrend.

On H1, AUD/USD keeps consolidating in the 0.7880-0.7965 area in line with “Shakeout-Fakeout” and “Spike and ledge” patterns. The break of support at 0.7880 will be a signal for the development of correction towards 0.7760.

More:
https://fbs.com/analytics/articles/aud_usd_is_chasing_the_“shark”_2797

 

[riki143]

NZD/USD: BEARS COUNTERATTACKED
10:19 08.08.2017

Recommendation:

BUY 0.7280 SL 0.7225 TP1 0.738 TP2 0.7460 TP3 0.7560

On the daily chart, NZD/USD reached targets on the inverted “Shark” pattern. After reaching 113% target of the wave XC the pair started correcting towards 23.6%, 38.2% and 50%. There’s a transformation of the 5-0 pattern with the following resumption of an uptrend. Use recoils from supports at 0.7280 and 0.7190 for opening long positions.

On H1, NZD/USD left the triangle and tested the 0.7460-0.7525 consolidation range in line with “Spike and ledge” pattern. This gave the pair a reason for correction to 0.7277 and 0.7241.

More:
https://fbs.com/analytics/articles/nzd_usd:_bears_counterattacked_2798

 

[riki143]

GBP/USD: BEARISH "FLAG" PATTERN
10:48 08.08.2017

The price is consolidating under the broken downtrend. The 89 Moving Average is acting as support, but bears are likely going to test the next support at 1.2997 - 1.2982. If a pullback from these levels arrives little later on, we should keep an eye on the nearest resistance at 1.3083 as an intraday target.

It's likely that there's a bearish "Flag" pattern. If so, the pair is going to reach the closest support at 1.2997 - 1.2982 during the day. At the same time, this area could be a departure point for an upward correction.

More:
https://fbs.com/analytics/articles/gbp_usd:_bearish_"flag"_pattern_2802

 

[riki143]

EUR/USD: EURO MAY ENTER INTO CLOUD
11:33 08.08.2017

Technical levels: support – 1.1780; resistance – 1.1820.

Trade recommendations:

Buy — 1.1830; SL — 1.1810; TP1 — 1.1900; TP2 – 1.1930.
Sell — 1.1800; SL — 1.1820; TP1 — 1.1710; TP2 – 1.1650.
Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal Tenkan-sen and Kijun-sen; the market supported by the Cloud, but the correction may continue to Senkou Span B

More:
https://fbs.com/analytics/articles/eur_usd:_euro_may_enter_into_cloud_2805

 

[riki143]

USD/JPY: BULLS PREVENTED BY CLOUD
11:34 08.08.2017

Technical levels: support – 110.00, 110.40; resistance – 110.70.

Trade recommendations:

Sell — 110.40; SL — 110.60; TP1 — 110.00; TP2 — 109.60.
Buy — 110.80; SL — 110.60; TP1 — 111.40; TP2 — 111.80.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a corretional dead cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the Cloud’s resistance is under the bull’s attack.

More;
https://fbs.com/analytics/articles/usd_jpy:_bulls_prevented_by_cloud_2806

 

[riki143]

EUR/USD: "HARAMI" PATTERN
16:47 08.08.2017

The 34 Moving Average has acted as support, so we've got a "Harami" pattern on this line. So, bulls are likely going to test the nearest resistance level, which could be a departure point for another decline towards the 55 MA.

The price is consolidating between the 34 & 55 MA. Also, there isn't any reversal pattern so far. In this case, the market is likely going to reach the closest resistance. If a pullback from this level happens, we could have a downward price movement in the direction of the last low.

More:
https://fbs.com/analytics/articles/eur_usd:_"harami"_pattern_2818

 

[riki143]

USD/JPY: SUPPORT BY "WINDOW"
16:50 08.08.2017

The lower "Window" has acted as support, so we've got a local "Hammer". However, the price faced with the Moving Averages once again, which means bears are likely going to test the nearest "Window" one more time.

There isn't any reversal pattern so far, so all the last candles are bearish. Moreover, there's a "High Wave" pattern, which has been formed on the 55 Moving Average. So, we could have a new low pretty soon.

More:
https://fbs.com/analytics/articles/usd_jpy:_support_by_"window"_2819

 

[riki143]

NZD/JPY REVERSED FROM RESISTANCE AREA
21:15 08.08.2017

NZD/JPY reversed from resistance area
Next sell target - 80.00
NZD/JPY recently reversed down from the resistance area lying between the resistance level 83.600 (which was set as the buy target in our earlier forecast for this currency pair and which reversed the earlier sharp upward impulse waves (3) and (5), as can be seen below) and the upper weekly Bollinger Band. NZD/JPY is expected to fall further to next sell target at the next round support level 80.00 (intersecting with the 50% Fibonacci correction of the weekly upward impulse from April).

More:
https://fbs.com/analytics/articles/nzd_jpy_reversed_from_resistance_area_2821

 

[riki143]

NZD/USD BROKE SUPPORT LEVEL 0.7340
21:17 08.08.2017

NZD/USD broke support level 0.7340
Next sell target - 0.7200
NZD/USD today broke below the support level 0.7340 (former resistance level from June which was set as the sell target in our earlier forecast for this currency pair). The breakout of the support level 0.7340 should accelerate the active minor corrective wave 2 (which started earlier from the powerful resistance level 0.7550). NZD/USD is expected fall further toward the next sell target at the next support level 0.7200 (low of the previous corrective waves 4 and (2)).

More:
https://fbs.com/analytics/articles/nzd_usd_broke_support_level_0.7340_2822

 

[riki143]

EUR/NZD TOWARDS THE 1.6115 AREA IN THE SHORT-TERM
06:33 09.08.2017

EUR/NZD has been consolidating above the 200 SMA, gaining momentum across the board and looks forward to duplicating a cycle started from the last week of June, until the second week of July. According to our Fibonacci projections, the pair needs to rally towards the resistance level of 1.6114, at which is located the 100% Fibonacci expansion level.

On that area, EUR/NZD can start to consolidate gains and later it can retrace to test the support level of 1.5874. RSI indicator continues to favor the bullish side in the pair.

More:
https://fbs.com/analytics/articles/eur_nzd_towards_the_1.6115_area_in_the_short_term_2828

 

[riki143]

GBP/USD: POUND ENTERED INTO NEGATIVE AREA
09:11 09.08.2017

Technical levels: support – 1.2910; resistance – 1.3030.

Trade recommendations:

Sell — 1.3030; SL — 1.3050; TP1 — 1.2950; TP2 — 1.29100.
Reason: narrow bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the bears are breaking down SSB’s support and going to 3W-lows.

More:
https://fbs.com/analytics/articles/gbp_usd:_pound_entered_into_negative_area_2834

 

[riki143]

AUD/USD: AUSSIE IS IN CORRECTION TO SSB
09:12 09.08.2017

Technical levels: support – 0.7820/30; resistance – 0.7910.

Trade recommendations:

Sell — 0.7910; SL — 0.7930; TP1 — 0.7830.
Reason: narrowing bullish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the prices are in the Cloud and going to the support of Senkou Span B.

More:
https://fbs.com/analytics/articles/aud_usd:_aussie_is_in_correction_to_ssb_2835