Market analysis and trade recommendations by FBS

[riki143]

EUR/USD: "PENNANT" PATTERN
10:00 09.08.2017

The last "Pennant" pattern has been broken, so the price faced support at 1.1712. However, the market is likely going to continue falling down towards the 55 Moving Average. If a pullback from this line happens, there'll be an opportunity to have an upward price movement in the direction of the nearest resistance at 1.1757 - 1.1801.

Bears found support at 1.1712, so the price is consolidating. It's likely that the pair is going to test the nearest resistance at 1.1757 - 1.1776 during the day. Meanwhile, if we have a pullback from this area, sellers will probably try to achieve the next support at 1.1683.

More:
https://fbs.com/analytics/articles/eur_usd:_"pennant"_pattern_2836

 

[riki143]

GBP/USD: BULLISH "THORN"
10:04 09.08.2017

We've got a "Thorn" pattern, so the price reached the 89 Moving Average. There's time for correction, so we should keep an eye on the 34 MA as a bullish target. If a pullback from this line happens, we could have just another decline towards the next support at 1.2932.

There's a "Double Bottom", so the price is rising. The main intraday target is the nearest resistance at 1.3069 and the 55 MA. If we have a pullback from these levels, bears are likely going to deliver a new local low.

More:
https://fbs.com/analytics/articles/gbp_usd:_bullish_"thorn"_2837

 

[riki143]

EUR/USD FINISHED A WAVE
10:57 09.08.2017

Recommendation:

BUY 1.1630 SL 1.1575 TP1 1.1820 TP2 1.1920

BUY 1.1520 SL 1.1465 TP1 1.1620 TP2 1.182 TP2 1,1920

On the daily chart, EUR/USD finished the wave 4-5 within the “Widening wedge”. Use pullbacks towards 23.6%, 38.2% and 50% for opening long positions. We don’t exclude the possibility that the prices will rebound from the lower border of the uptrend channel.

On H1, the break of diagonal support in the form of the lower border of the uptrend is a signal for a correction towards 113% and 88.6% targets of the junior and senior “Shark” patterns.

More:
https://fbs.com/analytics/articles/eur_usd_finished_a_wave_2840

 

[riki143]

USD/CAD: BEARS ARE GATHERING STRENGTH
11:08 09.08.2017

On the daily chart, USD/CAD left the downtrend channel. As a result, the pair is correcting towards 23.6%, 38.2% and 50% within the transformation of the “Shark” pattern into 5-0. It will be sensible to use recoil from important resistance levels for opening short positions.

On H1, USD/CAD formed “Dragon” pattern. The pair’s currently consolidating within the “Spike and ledge” pattern in the 1.2660-1.2705 range. The break of its upper border will allow the pair to continue correction. A successful test of the lower border will strengthen the risks of the bearish trend resumption.

More:
https://fbs.com/analytics/articles/usd_cad:_bears_are_gathering_strength_2841

 

[riki143]

EUR/USD: CONSOLIDATION IN A TINY RANGE
14:44 09.08.2017

There's a bearish correction, which is taking place on the four-hours chart. The last bullish "High Wave" pattern hasn't been confirmed yet, so the market is likely going to test the 55 Moving Average in the short term.

The price is still consolidating in a tiny range of bullish and bearish patterns. If the 34 Moving Average acts as resistance, we're likely going to have a new local low shortly.

More:
https://fbs.com/analytics/articles/eur_usd:_consolidation_in_a_tiny_range_2846

 

[riki143]

USD/JPY: BROKEN "WINDOW"
14:47 09.08.2017

We've got a new local low, but there isn't any reversal pattern so far. So, bears are likely going to test the "Window's" lower side. If any bullish pattern arrives afterwards, there'll be an opportunity to have a bullish price movement towards the Moving Averages.

The nearest "Window" has been broken, so the pair is still declining. The last bearish patterns haven't been confirmed, so we could have the price even lower during the day.

More:
https://fbs.com/analytics/articles/usd_jpy:_broken_"window"_2847

 

[riki143]

EUR/USD: "THORN" PATTERN
10:31 10.08.2017

The pair is consolidating near the 55 Moving Average. It's likely that the price is going to test the nearest support at 1.1649 in the short term. If a pullback from this level happens afterwards, there'll be an opportunity to have a bullish price movement towards the nearest resistance at 1.1757 - 1.1801.

Bears faced support at 1.1683, so there's a "Thorn" pattern, which pushed the price higher. The main intraday target is the nearest resistance at 1.1757 - 1.1776. However, if we see a pullback from this area, bears will probably try to reach another support at 1.1649.

More:
https://fbs.com/analytics/articles/eur_usd:_"thorn"_pattern_2873

 

[riki143]

GBP/USD: BEARISH "FLAG"
10:34 10.08.2017

There's a consolidation, which is taking place near the 89 Moving Average. Also, there's a possible developing "Flag" pattern, so bears are likely going to reach the nearest support at 1.2932 soon. If a pullback from this level arrives little later on, there'll be an option to have a bullish price movement towards the closest resistance at 1.2982 - 1.2997.

We've got a bearish "Flag", so the market is likely going to test the upper side of this pattern. If a pullback from the nearest resistance at 1.2997 - 1.3013 happens afterwards, we should keep an eye on the next support at 1.2958 - 1.2932 as an intraday target.

More:
https://fbs.com/analytics/articles/gbp_usd:_bearish_"flag"_2874

 

[riki143]

GOLD: BULLS PUSH PRICES UP
11:10 10.08.2017

Recommendation:

SELL $1270, SL $1278, TP1 $1250, TP2 $1230

On the daily chart, bulls made a second attempt during the 2 weeks to return the prices inside the previous rising channel. If it succeeds, the odds of an increase at least towards $1295 an ounce will sharply increase. On the other hand, recoil down from $1277-1279 will make gold consolidate.

On H1, the inability of bulls to hold the prices above $1270 ?an ounce will show their weakness. As a result, risks of reversal patterns Anti-Turtles and “Widening wedge” will increase.

More:
https://fbs.com/analytics/articles/gold:_bulls_push_prices_up_2876

 

[riki143]

USD/CHF: BEARS PREPARE TO ATTACK
11:30 10.08.2017

Recommendation:

BUY 0.9740 SL 0.9685 TP1 0.9840 TP2 0.9890

On the daily chart, USD/CHF reached the target of “Wolfe waves” pattern. After this, there was a correction to the short-term uptrend. A recoil from the lower border of the bullish trend channel and the pair’s settling above 0.9650 will return the initiative to buyers.

On H1, there are senior and junior “Shark” patterns. The most likely scenarios are: decline to the recent low and continuation of the fall towards 0.9470 or correction to the wave CD. Think about bullish positions if USD/CHF breaks above 0.9740 and 0.9755.

More:
https://fbs.com/analytics/articles/usd_chf:_bears_prepare_to_attack_2878

 

[riki143]

EUR/USD: BEARISH "SHOOTING STAR"
16:04 10.08.2017

The 55 Moving Average has acted as support, but there isn't any bullish pattern so far. So, we could have a new local low soon. If we have another pullback from the 55 MA, there'll be an opportunity to have an upward price movement.

The price is still consolidating. We've got a bearish "Shooting Star", so bears are likely going to break the last low soon. If any bullish pattern arrives later on, bulls will probably try to test the Moving Averages.

More:
https://fbs.com/analytics/articles/eur_usd:_bearish_"shooting_star"_2889

 

[riki143]

USD/JPY: "ENGULFING" AND "DOJI"
16:07 10.08.2017

There's a bearish "High Wave", which has been confirmed. So, the price is likely going to continue moving down towards the lower "Window", which could be a departure point for a bullish correction.

We've got bearish patterns such an "Engulfing" and a "Doji", which both have been confirmed. In this case, the pair is going to decline in the direction of the closest support level.

More:
https://fbs.com/analytics/articles/usd_jpy:_"engulfing"_and_"doji"_2890

 

[riki143]

GBP/USD: POUND IS IN CONSOLIDATION UNDER CLOUD
08:22 11.08.2017

Technical levels: support – 1.2980; resistance – 1.3000, 1.3090.

Trade recommendations:

Sell — 1.2980; SL — 1.3000; TP1 — 1.2910; TP2 — 1.2870.
Buy — 1.3010; SL — 1.2090; TP1 — 1.3090; TP2 — 1.3140.
Reason: bearish Ichimoku Cloud with horizontal borders; a dead cross of Tenkan-sen and Kijun-sen, but the narrow channel of the lines; the bears can’t breaking down the support of 1.2980.

More:
https://fbs.com/analytics/articles/gbp_usd:_pound_is_in_consolidation_under_cloud_2902

 

[riki143]

AUD/USD: AUSSIE TESTED SSB’S SUPPORT
08:23 11.08.2017

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

Trade recommendations:

Buy — 0.7850/60; SL — 0.7830; TP1 — 0.7910; TP3 — 0.7950.
Reason: bearish Ichimoku Cloud, but rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen; the prices are tested the support of Senkou Span B and can bounce off to SSA.

More:
https://fbs.com/analytics/articles/aud_usd:_aussie_tested_ssb’s_support_2903

 

[riki143]

GBP/USD: WEDGE HELPED BULLS
10:26 11.08.2017

Recommendation:

BUY 1.3025 SL 1.2970 TP1 1.3150 TP2 1.3250

SELL 1.2960 SL 1.3015 TP 1.2850

On the daily chart, GBP/USD formed junior and senior “3 Indians”. As a result, the pair declined to support at 1/2965. The break will strengthen the risks of a pullback towards the lower border of an uptrend channel.

On H1, GBP/USD is consolidating in the 1.2960-1.3025 area. A successful test of its lower border will allow expecting a continuation of correction towards 88.6% target of the “Shark” pattern. On the contrary, if there’s a “widening wedge”, the odds of the uptrend’s resumption will increase.

More:
https://fbs.com/analytics/articles/gbp_usd:_wedge_helped_bulls__2906

 

[riki143]

EUR/JPY: BEARS PREPARE A DECLINE
10:41 11.08.2017

On the daily chart, EUR/JPY the break of diagonal support (lower border of the uptrend channel) was a signal for correction towards 88.06% target of the “Shark” pattern. However, bears have to meet 2 conditions. Firstly, hold the pair below 128.50. Secondly, pull it below support at 127.50.

H1, EUR/JPY is moving towards 224% and 88.6% targets of “Shark” pattern. They correspond to 127 and 123.40. To resume the uptrend, bulls have to return the euro above 129.50.

More:
https://fbs.com/analytics/articles/eur_jpy:_bears_prepare_a_decline_2907

 

[riki143]

EUR/USD: PRICE BROKE THE "WEDGE"
11:20 11.08.2017

The price has broken the upper side of a "Wedge" pattern. So, the market is likely going to test the nearest resistance at 1.1846 - 1.1875 in the coming hours. If a pullback from these levels happens, there'll be an opportunity to have a decline towards the 34 Moving Average.

All the Moving Averages lines have been broken, so the price is consolidating. It seems like we've got a developing "Flag" pattern. In this case, we should keep an eye on the next resistance at 1.1823 - 1.1845 as an intraday bullish target.

More:
https://fbs.com/analytics/articles/eur_usd:_price_broke_the_"wedge"_2910

 

[riki143]

GBP/USD: DEVELOPING "TRIANGLE"
11:22 11.08.2017

The price is consolidating near the 89 Moving Average. Also, there are two bullish "Thorn" patterns in a row, so the pair is likely going to test the closest resistance at 1.3032 - 1.3047 in the coming hours. If a pullback from these levels happens little later on, there'll be an option to have a downward price movement towards the next support at 1.2982 - 1.2951.

We've got a "Triangle", so the price is likely going to test the lower side of this pattern in the short term. If a pullback from this level is on the table, bulls will probably try to achieve the nearest resistance at 1.3032 - 1.3047 shortly.

More:
https://fbs.com/analytics/articles/gbp_usd:_developing_"triangle"_2911

 

[riki143]

EUR/USD: BEARISH "SHOOTING STAR" AND "DOJI"
15:16 11.08.2017

The 55 Moving Average has been tested once again, so we've got a bearish "Tower", but this pattern remains unconfirmed. So, the pair is likely going to continue declining until any bullish pattern forms.

There're bearish patterns such a "Shooting Star" and a "Doji", which both have been confirmed. However, we've got a bullish "Inverted Hammer", so there's an opportunity to have a local upward correction. Anyway, bears are likely going to test the next support afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_bearish_"shooting_star"_and_"doji"_2913

 

[riki143]

USD/JPY: BULLISH "DOJI"
15:19 11.08.2017

The "Window" has been broken, but there's a bullish "Doji", which hasn't been confirmed yet. It's likely that the pair is going to test the nearest resistance. If a pullback from this level happens, we could have just another decline.

We've got a "Harami" and a "Tweezers" patterns. In this case, the pair is likely going to test the Moving Averages in the short term. However, if a pullback from these lines arrives afterwards, there'll be an option to have a decline in the direction of the nearest support.

More;
https://fbs.com/analytics/articles/usd_jpy:_bullish_"doji"_2914