Market analysis and trade recommendations by FBS

[riki143]

GBP/USD: BULLS FACED WITH RESISTANCE
08:31 08.09.2017

Bulls faced with resistance at 1.3164, so the market is likely going to decline towards the nearest support at 1.3119 - 1.3083. However, if a pullback from this area happens, we could have an upward price movement in the direction of the closest resistance at 1.3164 - 1.3190.

There's a "Thorn" pattern, which pushed the pair to support at 1.3114. Meanwhile, the price is likely going to reach the next support at 1.3093 - 1.3083, which could be a departure point for a bullish price movement. In this case, we should keep in mind the nearest resistance at 1.3164 - 1.3190 as the next bullish target.

More:
https://fbs.com/analytics/articles/gbp-usd-bulls-faced-with-resistance-3582

 

[riki143]

EUR/USD: BULLS GOING TO TEST NEXT RESISTANCE
11:51 08.09.2017

The price is still rising, but we've got a bearish "High Wave" at the local high, so there's a local consolidation. However, bulls are likely going to test the next resistance in the short term. If a pullback from this level happens afterwards, there'll be an opportunity to have a bearish correction.

We've got a "Shooting Star", but this pattern is unconfirmed, cause the last candles have been closed above the middle of the huge white candle. In this case, the market is likely going to continue moving up.

More:
https://fbs.com/analytics/articles/eur-usd-bulls-going-to-test-next-resistance-3586

 

[riki143]

USD/JPY: BEARISH "THREE METHODS" PATTERN
11:53 08.09.2017

Bears are still pushing the price lower, so we don't have any reversal pattern. Therefore, the pair is likely going to continue falling down towards the lower "Window". If any bullish pattern arrives later on, we could have an upward correction.

We've got a bearish "Three Methods" pattern at the local low. Previously, a bearish "Engulfing" has been formed. So, the market is likely going to continue declining during the day.

More:
https://fbs.com/analytics/articles/usd-jpy-bearish-three-methods-pattern-3587

 

[riki143]

EUR/USD: 7/8 MM LEVEL ACTED AS RESISTANCE
12:38 08.09.2017

We've got a new high, so wave 5 may have been started. At the same time, wave 4 turned out to be a triangle pattern, so there's a bullish impulse in wave of 5. 7/8 MM Level acted as resistance, which means we could have a local bearish correction in the short term. Nevertheless, bulls are likely going to deliver wave [iii] of 5 afterwards.

Wave (v) of has been ended on 8/8 MM Level, so it's time for a correction. The nearest target for wave [ii] is 6/8 MM Level, which could be a departure point for another bullish rally.

More:
https://fbs.com/analytics/articles/eur-usd-7-8-mm-level-acted-as-resistance-3594

 

[riki143]

EUR/USD FAVORED BY THE BULLISH PRICE ACTION
00:46 11.09.2017

EUR/USD remains supported in favor of the bulls and as we can see in the H1 chart, the Fibonacci area of 50% and 65% have provided the enough momentum in order to help the pair to consolidate above the critical level of 1.20. Because of the rebound above such area and the 200 SMA at H1 chart, we’re expecting a bullish continuation towards the -23.6% Fibonacci retracement level at 1.2165. Corrective moves should be limited by the 38.2% Fibo zone.

RSI indicator is still in the neutral territory, calling for a bullish consolidation before any significant move.

More:
https://fbs.com/analytics/articles/eur-usd-favored-by-the-bullish-price-action-3608

 

[riki143]

NZD/USD: BEARS FOUND A SHARK
07:03 11.09.2017

Recommendation:

SELL 0.7225

SL 0.728

TP1 0.715 TP2 0.7105

On H1, the inability of the bulls to lead the pair outside of the descending channel and formation of the bar with the long upper wick points at buyers’ weakness. Realization of the inverted 5-0 pattern is delayed.

On H1, NZD/USD reached the targets if the “Widening wedge”, “Three Indians” and 1-2-3. If the pair renews correction low with the following decline below the lower border of an uptrend channel, risks of reaching 88.6% target of a Shark pattern will increase.

More:
https://fbs.com/analytics/articles/nzd-usd-bears-found-a-shark-3614

 

[riki143]

AUD/USD: BEARS LEFT THEIR LAIR
07:21 11.09.2017

Recommendation:

SELL 0.8025

SL 0.808 TP1 0.794

TP2 0.789

On the daily chart, the inability of bulls to push the pair out of the uptrend channel and formation of the bar with a long upper wick points at their weakness. It strengthens the risks of correction at least to 0.7937-0.7954.

On H1, AUD/USD reached the targets of “Widening wedge”, “3 Indians” and 1-2-3. The break of support at 0.8028 and the pair’s leaving the uptrend channel will increase the risks of the pair reaching 88.6% target of the Shark pattern.

More:
https://fbs.com/analytics/articles/aud-usd-bears-left-their-lair-3615

 

[riki143]

EUR/USD: EURO RETURNED TO 0.2000
07:41 11.09.2017

Technical levels: support – 1.2000, 1.1980; resistance – 1.2075.

Trade recommendations:

Buy — 1.1980; SL — 1.1960; TP1 — 1.2030; TP2 – 1.2075.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan and Kijun; the prices are on the support of Tenkan-sen and Kijun-sen.

More:
https://fbs.com/analytics/articles/eur-usd-euro-returned-to-0.2000-3618

 

[riki143]

AUD/USD: AUSSIE LOOKING FOR SUPPORT OF KIJUN
07:42 11.09.2017

Technical levels: support – 0.8030; resistance – 0.8080, 0.8120.

Trade recommendations:

Buy — 0.8030; SL — 0.8010; TP1 — 0.8080; TP3 — 0.8120.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising lines; the market is seeking the support on Kijun-sen for continue uptrend.

More:
https://fbs.com/analytics/articles/aud-usd-aussie-looking-for-support-of-kijun-3619

 

[riki143]

EUR/USD: "V-TOP" LED TO DECLINE
08:29 11.09.2017

We've got a "V-Top", so the price is declining. In this case, we should keep an eye on the nearest support at 1.1978 - 1.1949 as an intraday target. 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 1.2129.

The 34 Moving Average has acted as support, so the price is consolidating. Therefore, the market is likely going to test the 89 MA in the short term. However, if a pullback from this line happens, we could have another bullish rally towards the next resistance at 1.2080 - 1.2129.

More:
https://fbs.com/analytics/articles/eur-usd-v-top-led-to-decline-3620

 

[riki143]

GBP/USD: BULLISH "PENNANT" PATTERN
08:36 11.09.2017

Bulls faced with resistance at 1.3223, so the price tested the nearest support at 1.3164. In this case, the pair is likely going to rise in the direction of the next resistance at 1.3249 - 1.3265, which means we could have a new local high pretty soon.

The price is consolidating between the levels 1.3223 - 1.3164. Also, there's a "Pennant" pattern, so the market is likely going to achieve the nearest resistance at 1.3249 - 1.3265 soon. If a pullback from these levels happens, we could have a decline towards the closest support at 1.3164 - 1.3149.

More:
https://fbs.com/analytics/articles/gbp-usd-bullish-pennant-pattern-3622

 

[riki143]

EUR/USD: PULLBACK FROM 7/8 MM LEVEL
09:05 11.09.2017

There's a pullback from 7/8 MM Level, so wave may have been formed. In this case, we could have a bearish correction in the short term. The main target for wave [ii] is 6/8 MM Level, which could be a departure point for wave [iii].

8/8 MM Level has acted as resistance, so we've got a bearish impulse in wave (a). Also, there's a pullback from 5/8 MM Level, so the price is rising. If a pullback from 7/8 MM Level happens, bears are likely going to deliver wave (c) of [ii].

More:
https://fbs.com/analytics/articles/eur-usd-pullback-from-7-8-mm-level-3624

 

[riki143]

USD/JPY: BULLISH "MORNING STAR"
10:41 11.09.2017

The price reached the upper "Window", but there isn't any reversal pattern so far. Moreover, there's a possible bullish "Three Methods". So, we could have the price even higher in the short term. If any bearish pattern forms afterwards, there'll be an opportunity to have a decline.

The last bullish "Morning Star" led to the current upward price movement. At the same time, we've got a "Three Methods" pattern, so the pair is likely going to reach the 89 Moving Average during the day.

More:
https://fbs.com/analytics/articles/usd-jpy-bullish-morning-star-3626

 

[riki143]

EUR/USD: BEARISH "HIGH WAVE"
10:44 11.09.2017

We've got a bearish "High Wave", which has been confirmed. In this case, the market is likely going to test the nearest support. If a pullback from this level happens, there'll be an opportunity to have just another upward price movement.

The 34 Moving Average is acting as support, so we've got a bullish "Hammer" at the local low. However, this pattern doesn't have confirmation, so the price is likely going to continue declining towards the 55 MA.

More:
https://fbs.com/analytics/articles/eur-usd-bearish-high-wave-3627

 

[riki143]

XAU/USD: GOLD APPROACHED A CRITICAL LINE
07:13 12.09.2017

Recommendation:

SELL $1323

SL $1338

TP1 $1305 TP2 $1282 TP3 $1272

On the daily chart, the inability of the bulls to settle above 161.8% target of AB=CD points at their weakness. A break of support at $1320,4-1321,6 will strengthen the risks of correction to at least the lower border of the uptrend channel.

On H1, further dynamics of the pair will depend on the test of support at $1323. Success will allow bears to develop a move towards 88.6% and 113% targets of the “Shark” pattern. Failure will create grounds for the uptrend resumption.

More:
https://fbs.com/analytics/articles/xau-usd-gold-approached-a-critical-line-3649

 

[riki143]

USD/CAD: WILL THE TRIANGLE STOP BEARS?
07:19 12.09.2017

Recommendation:

BUY 1.2165

SL 1.211

TP1 1.229 TP2 1.2365

On the daily chart, USD/CAD approached 200% target of AB=CD. If bears manage to conquer support at 1.2045, risks of continuation of the decline to 1.1960 and 1.1820 will increase. On the other hand, pair’s return above resistance at 1.2185 will create grounds for a correction.

On H1, USD/CAD formed a triangle. A break of its upper border will increase the possibility of a pullback towards the lower and the upper border of the earlier gap.

More:
https://fbs.com/analytics/articles/usd-cad-will-the-triangle-stop-bears-3650

 

[riki143]

EUR/USD: "TRIPLE BOTTOM" PUSHED PRICE TO 55 MA
08:57 12.09.2017

The main trend is still bullish. The 34 Moving Average has acted as support, so the price is likely going to reach the nearest resistance at 1.1975 - 1.2003. If a pullback from these levels happens, there'll be an opportunity to have a decline towards the next support at 1.1909 - 1.1892.

We've got a "Triple Bottom", which pushed the price to 55 Moving Average. So, the market is likely going to achieve the closest resistance area at 1.2028. If we have a pullback from this level, bears will try to test another support at 1.1934 - 1.1907.

More:
https://fbs.com/analytics/articles/eur-usd-triple-bottom-pushed-price-to-55-ma-3655

 

[riki143]

GBP/USD: "DOUBLE TOP" PATTERN
09:02 12.09.2017

The price is consolidating between the levels 1.3223 - 1.3164. At the same time, there's a "Double Top" pattern, which has been confirmed. So, the last high could be tested once again in the short term, but bears are likely going to reach the nearest support at 1.3164 - 1.3136 afterwards.

We've got a confirmed "Double Top", but there's a pullback from support at 1.3164. Therefore, the pair is likely going to achieve the nearest resistance at 1.3190 - 1.3223. If a pullback from these levels happens, there'll be an option to have another decline in the direction of the next support at 1.3164 - 1.3149.

More:
https://fbs.com/analytics/articles/gbp-usd-double-top-pattern-3656

 

[riki143]

EUR/USD: [II] TAKING FORM OF ZIGZAG
11:00 12.09.2017

7/8 MM Level has acted as resistance, so there's developing wave [ii]. If the price fixates above 6/8 MM Level little later on, there'll be an opportunity to have just another bullish impulse. The main target for wave [iii] is 8/8 MM Level.

Wave [ii] is taking the form of a zigzag. If a pullback from 3/8 MM Level happens in the short term, bulls are likely going to deliver an upward impulse in wave (i). So, we should keep an eye on 5/8 MM Level as an intraday target.

More:
https://fbs.com/analytics/articles/eur-usd-[ii]-taking-form-of-zigzag-3657

 

[riki143]

USD/JPY: BULLISH "ENGULFING" PATTERN
11:10 12.09.2017

The price reached the 89 Moving Average, but there isn't any reversal pattern so far. In this case, bulls are likely going to reach the next "Window", which could be a departure point for a downward correction.

The last bullish "Engulfing" pattern pushed the price even higher. Also, there isn't any reversal pattern, cause all the last candles are bullish. So, the market is likely going to continue moving up in the short term.

More:
https://fbs.com/analytics/articles/usd-jpy-bullish-engulfing-pattern-3658