Market analysis and trade recommendations by FBS

[riki143]

GBP/USD: BULLS RETURN TO THE GAME
06:36 06.09.2017

Recommendation:

SELL 1.296

SL 1.3015

TP1 1.2835 TP2 1.2775

On the daily chart, GBP/USD returned inside the long-term bullish channel. This points at buyers’ strength. Bears can regain the initiative only if the pair slide below $1.2962. A break of this support will increase the risks of triggering “Head and shoulders” pattern.

On H1, GBP/USD keeps forming the 5-0 pattern. Conservative approach suggests opening short positions as the pair returns to the previous correction level (38.2%) of the wave CD.

More:
https://fbs.com/analytics/articles/gbp_usd:_bulls_return_to_the_game_3510

 

[riki143]

GBP/USD: BULLS LOOK STRONG
07:08 06.09.2017

Technical levels: support – 1.2920, 1.2980; resistance – 1.3020/40.

Trade recommendations:

Buy — 1.2980; SL — 1.2960; TP1 — 1.3040; TP2 — 1.3100.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls are breaking out the Cloud’s resistance and may go higher.

More:
https://fbs.com/analytics/articles/gbp_usd:_bulls_look_strong_3514

 

[riki143]

AUD/USD: AUSSIE RETURNED TO 0.8000
07:09 06.09.2017

Technical levels: support – 0.7940, 0.7980; resistance – 0.8000.

Trade recommendations:

Sell — 0.7970; SL — 0.7990; TP1 — 0.7940; TP3 — 0.7920.
Buy — 0.7930; SL — 0.7910; TP1 — 0.8000; TP3 — 0.8040.
Reason: bullish Ichimoku Cloud, horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls are tested the strong resistance on 0.8000, but can’t break it out.

More:
https://fbs.com/analytics/articles/aud_usd:_aussie_returned_to_0.8000_3515

 

[riki143]

EUR/USD: BEARS GOING TO TEST 55 MA
09:38 06.09.2017

The price is still consolidating between the levels 1.1959 - 1.1875. So, bears are likely going to test the 55 Moving Average, which could act as support. If so, there'll be an opportunity to have an upward correction towards the nearest resistance at 1.1975 - 1.2003.

There's a consolidation, which is taking place above the Moving Averages. It's likely that the market is going to test the closest support at 1.1874 - 1.1864. If a pullback from this area happens, bulls will try to achieve the next resistance at 1.1975 - 1.2003.

More:
https://fbs.com/analytics/articles/eur_usd:_bears_going_to_test_55_ma_3519

 

[riki143]

GBP/USD: "TRIPLE TOP" LED TO CONSOLIDATION
09:44 06.09.2017

The Moving Averages have acted as support, so the price is rising, but bulls faced with resistance at 1.3032 - 1.3047. In this case, we should keep an eye on the nearest support at 1.2994 - 1.2977 as an intraday target. If a pullback from these levels happens, there'll be an opportunity to have even more bullish pressure.

There's a "Triple Top", so the price is consolidating. Therefore, the market is likely going to test the closest support at 1.2994 - 1.2977 during the day. Meanwhile, bulls could deliver a new local high afterwards.

More:
https://fbs.com/analytics/articles/gbp_usd:_"triple_top"_led_to_consolidation_3520

 

[riki143]

EUR/USD: UPPER "WINDOW" ACTING AS RESISTANCE
10:36 06.09.2017

The 34 & 55 Moving Averages have acted as support, so the price is moving up. There's no any reversal pattern, cause all the last candles are bullish. Therefore, the market is likely going to continue rising towards the nearest resistance level.

The upper "Window" is acting as resistance, so we could have a local bearish correction towards the Moving Averages. If a pullback from these lines arrives little later on, there'll be an opportunity to have another bullish price movement.

More:
https://fbs.com/analytics/articles/eur_usd:_upper_"window"_acting_as_resistance_3521

 

[riki143]

USD/JPY: "TWEEZERS" AND "HAMMER"
10:38 06.09.2017

There's a possible "Three Methods" pattern, so the current local correction is likely going to end soon. Previously, a "Shooting Star" pattern has been formed on the 89 Moving Average. In this case, we could have a new local low pretty soon.

There are bullish patterns such a "Tweezers" and a "Hammer", but both of them haven't been confirmed yet. So, we could have just a local correction towards the 34 Moving Average. If a pullback from this line happens, bears are going to break the last low.

More:
https://fbs.com/analytics/articles/usd_jpy:_"tweezers"_and_"hammer"_3522

 

[riki143]

EUR/USD: POSSIBLE ENDING DIAGONAL
11:06 06.09.2017

The price is still consolidating under 4/8 MM Level, which could be a departure point for wave [c]. The main target for wave 4 is 1/8 MM Level. If we have a pullback from this level, bulls are likely going to deliver another upward impulse.

There's a possible ending diagonal in wave (c) of . If a pullback from 4/8 MM Level happens, there'll be an opportunity to have a bearish impulse in wave [c] of 4. If so, we should keep an eye on 1/8 MM Level as an intraday target.

More:
https://fbs.com/analytics/articles/eur_usd:_possible_ending_diagonal_3523

 

[riki143]

EUR/USD: READY TO CONTINUE UPTREND
06:45 07.09.2017

Technical levels: support – 1.1910; resistance – 1.1960, 1.1990.

Trade recommendations:

Buy — 1.1910; SL — 1.1890; TP1 — 1.1960; TP2 – 1.1990.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; an irregular dead cross of Tenkan-sen and Kijun-sen, narrowing channel of Tenkan-Kijun; the prices are on the support of Tenkan-sen and Kijun-sen and breaking out the SSA’s resistance.

More:
https://fbs.com/analytics/articles/eur_usd:_ready_to_continue_uptrend_3540

 

[riki143]

GBP/USD: CONSOLIDATION OVER CLOUD
06:46 07.09.2017

Technical levels: support – 1.2980/90; resistance – 1.3020/40.

Trade recommendations:

Buy — 1.3050; SL — 1.3030; TP1 — 1.3100; TP2 — 1.3130.
Buy — 1.2990; SL — 1.2970; TP1 — 1.3040; TP2 — 1.3100.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, the rising lines; the market is out from the overbought area soon and may go higher.

More:
https://fbs.com/analytics/articles/gbp_usd:_consolidation_over_cloud_3542

 

[riki143]

USD/JPY: YEN IS MOVING THROUGH CHANNELS
07:09 07.09.2017

Recommendations:

SELL 108.5 SL 109.05 TP 106.4

BUY 109.75 SL 109.2 TP 112.1

On the daily chart, USD/JPY bulls are trying to leave the short-term descending channel. If they fail and bears manage to renew August low and conquer support at 108.03, risks of decline towards 127.2% and 161.8% targets of the AB=CD pattern will increase.

On H1, USD/JPY formed a “Widening wedge". The return of the pair to 38.2% and 23.6% of the wave 4-5 may be used for buying. On the other hand, another test of support at 108.54 can be used for selling.

More:
https://fbs.com/analytics/articles/usd-jpy-yen-is-moving-through-channels-3543

 

[riki143]

EUR/JPY: BULLS ARE PREPARING AN ATTACK
07:42 07.09.2017

Recommendation:

BUY 130.65 S

L 130.1

TP 131.65 TP2 133.8

On the daily chart, EUR/JPY entered the dead zone between the short-term downtrend and the long-term uptrend channels. To develop correction, bears need to form and reach targets of the “Widening wedge”. The presence of the inside bar creates a possibility for the short-term trades.

On H1, EUR/JPY is consolidating in range as the “Shark” pattern is transforming into 5-0. Bulls managed to lead the pair outside the downtrend channel. To resume the uptrend, they need to overcome resistance at 130.65.

More:
https://fbs.com/analytics/articles/eur-jpy-bulls-are-preparing-an-attack-3544

 

[riki143]

EUR/USD: POSSIBLE TRIANGLE PATTERN
09:07 07.09.2017

The price is still consolidating near the 34 Moving Average, so bears are likely going to reach the nearest support at 1.1909 - 1.1892. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of the closest resistance at 1.1975 - 1.2003.

There's a possible triangle pattern. In this case, the market is likely going to get support on the 89 Moving Average. Meanwhile, if we see a pullback from this line, bulls will try to test another resistance at 1.1975 - 1.2003.

More:
https://fbs.com/analytics/articles/eur-usd-possible-triangle-pattern-3551

 

[riki143]

GBP/USD: "V-TOP" PATTERN
09:10 07.09.2017

There's a "Thorn" pattern, which pushed the price to the nearest support at 1.3047 - 1.3032. However, bears are likely going to test the next support at 1.2994 - 1.2977 in the short term. If a pullback from these levels happens little later on, there'll be an option to have a bullish price movement towards the closest resistance at 1.3082 - 1.3096.

Bulls faced with resistance at 1.3082, so there's a "V-Top" pattern. Therefore, the pair is likely going to decline towards the nearest support area at 1.2994 - 1.2977. At the same time, bulls will probably try to deliver a new local high afterwards.

More:
https://fbs.com/analytics/articles/gbp-usd-v-top-pattern-3553

 

[riki143]

EUR/USD: DEVELOPING WAVE 4
09:41 07.09.2017

There's a developing wave 4, which is likely going to take the form of a zigzag. So, if a pullback from 4/8 MM Level happens, there'll be an opportunity to have a bearish impulse in wave [c]. The main target for wave 4 is 1/8 MM Level.

It seems like we've got an ending diagonal pattern in wave (c) of . In this case, if we have a pullback from 4/8 MM Level, bears are likely going to test 1/8 MM Level, which could be a departure point for wave (i).

More:
https://fbs.com/analytics/articles/eur-usd-developing-wave-4-3559

 

[riki143]

EUR/USD: BULLISH "THREE METHODS"
11:33 07.09.2017

We've got a bullish "Three Methods", which has been confirmed. So, the market is likely going to continue moving up towards the nearest resistance area. If any bearish pattern forms little later on, there'll be an opportunity to have a decline.

The 34 Moving Average has acted as support, so the price is rising. The last "Window" has been broken. If a pullback from the achieved resistance happens, bears are likely going to deliver a local downward correction.

More:
https://fbs.com/analytics/articles/eur-usd-bullish-three-methods-3561

 

[riki143]

USD/JPY: PULLBACK FROM THE LOWER "WINDOW"
11:36 07.09.2017

There's a pullback from the lower "Window", but we've got a local bearish "Shooting Star", which has been confirmed. So, the market is likely going to test the lower "Window" once again in the short term.

We've got a "Doji" and a "High Wave" on the 55 Moving Average. Considering of confirmation of both patterns, the pair is likely going to continue moving down towards the last low until any bullish pattern arrives.

More:
https://fbs.com/analytics/articles/usd-jpy-pullback-from-the-lower-window-3562

 

[riki143]

EUR/USD: BULLS NEED A REST
07:17 08.09.2017

Recommendation:

SELL 1.2035

SL 1.209

TP 1.1935

On the daily chart, EUR/USD keeps forming “Spike and ledge with acceleration”. The trend’s angle is increasing the risks of correction. The inability of bulls to keep the pair above 1.2062 and 1.2156 (161.8% and 200% targets) points at their weakness.

On H1, EUR/USD formed 2 convergence areas with the help of senior and junior AB=CD patterns. The fall of the pair below the low of the bar, which marked the previous minimum, will signal the start of bears’ counterattack.

More:
https://fbs.com/analytics/articles/eur-usd-bulls-need-a-rest-3578

 

[riki143]

EUR/GBP: BULLS ARE LIFTING THEIR HEADS
07:28 08.09.2017

Recommendation:

BUY 0.9215

SL 0.916

TP 0.929 TP2 0.9355 TP3 0.942

On the daily chart, EUR/GBP keeps forming “Spike and reversal with acceleration”. Until the price falls below both trendlines, bulls will retain control of the situation. Their further movement up will increase the possibility of an advance towards 127,2%, 161.8%, 200% and 224% targets of AB=CD.

On H1, a break above resistance at 0.9213 and the following triggering of the “Widening wedge” and the “Shark” patterns will increase the possibility of an advance to 0.9285-0.9290.

More:
https://fbs.com/analytics/articles/eur-gbp-bulls-are-lifting-their-heads-3580

 

[riki143]

EUR/USD: "DOUBLE TOP" PATTERN
08:29 08.09.2017

The 34 Moving Average has acted as support so the price is rising. However, bulls didn't fixate above the "Runaway Gap", so we could have a local downward correction. Nevertheless, the market is likely going to climb even higher, so we should keep an eye on the next resistance at 1.2080 - 1.2129 as an intraday target.

We've got a "Double Top" pattern, which has been confirmed, so the price is likely going to achieve the closest support at 1.2022. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards another resistance at 1.2129.

More:
https://fbs.com/analytics/articles/eur-usd-double-top-pattern-3581