Market analysis and trade recommendations by FBS

[riki143]

EUR/USD: BULLS GOING TO DELIVER CORRECTION
11:14 12.09.2017

We've got a bullish "Inverted Hammer", but this pattern remains unconfirmed. So, we could have the price a little bit lower in the short term. Anyway, bulls are likely going to deliver an upward correction afterwards.

The 55 Moving Average is acting as resistance, so there's a bearish "Doji", which has been confirmed enough. So, the lower "Window" is likely going to be tested during the day. If we have a pullback from this level, there'll be time for bullish correction.

More:
https://fbs.com/analytics/articles/eur-usd-bulls-going-to-deliver-correction-3659

 

[riki143]

US DOLLAR: A PULL BACK COMING SOON?
01:01 13.09.2017

US Dollar Index has been following to the bears against a basket of major currencies and it’s approaching to the 200 SMA at H1 chart, nearing to the Fibonacci level of 50% (92.14). If the index manages to break above that area, we can expect an acceleration to test September 1st highs at 92.80, at which is located the Fibo level of 78.6%.

However, if we see a pull back at the current stage, the index could plummet towards the -23.6% level at 90.42. RSI indicator remains in the positive territory.

More:
https://fbs.com/analytics/articles/us-dollar-a-pull-back-coming-soon-3676

 

[riki143]

EUR/USD: 3/8 MM LEVEL ACTED AS SUPPORT
07:24 13.09.2017

Wave [ii] may have been ended, cause there's a pullback from 6/8 MM Level. So, there's an opportunity to have wave [iii]. In this case, we should keep an eye on 8/8 MM Level as the next bullish target.

There's a possible zigzag in wave [ii]. 3/8 MM Level has acted as support, so the price is rising. Therefore, wave (i) of [iii] is likely going to move on towards 6/8 MM Level.

More:
https://fbs.com/analytics/articles/eur-usd-3-8-mm-level-acted-as-support-3682

 

[riki143]

EUR/USD: EURO IS SUPPORTED BY CLOUD
07:38 13.09.2017

Technical levels: support – 1.1950, 1.1900; resistance – 1.2030, 1.2075.

Trade recommendations:

Buy — 1.1980/90; SL — 1.1960; TP1 — 1.2030; TP2 – 1.2075.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Kijun-sen; the prices are on the support of the Cloud.

More:
https://fbs.com/analytics/articles/eur-usd-euro-is-supported-by-cloud-3684

 

[riki143]

USD/JPY: DOLLAR IS OVERBOUGHT
07:39 13.09.2017

Technical levels: support – 109.60, 109.10; resistance – 110.40.

Trade recommendations:

Sell — 109. 90; SL — 110.10; TP1 — 109.10; TP2 — 108.90.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; Dollar is going to positive area, but the market is overbought now.

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-is-overbought-3685

 

[riki143]

EUR/USD: "V-BOTTOM" PATTERN
07:54 13.09.2017

The main trend is still bullish. The 34 Moving Average has acted as support, so we've got a "V-Bottom" pattern on this line. Therefore, the market is likely going to reach the nearest resistance at 1.2042 - 1.2069 in the short term. If a pullback from this area happens, we could have a decline towards the next support at 1.1909.

Bears faced with support at 1.1907, so we've got a "V-Bottom" pattern, which led to the current consolidation. In this case, the pair is likely going to achieve the closest resistance at 1.2028 - 1.2042 during the day. Meanwhile, if we have a pullback from these levels, there'll be an opportunity to have a downward price movement towards another support at 1.1941 - 1.1934.

More:
https://fbs.com/analytics/articles/eur-usd-v-bottom-pattern-3686

 

[riki143]

GBP/USD: MARKET GOING TO CLIMB EVEN HIGHER
07:56 13.09.2017

The last "Flag" pattern has been broken, so the price is rising. The main intraday target is the nearest resistance at 1.3345 - 1.3374. If a pullback from this area happens little later on, bears will try to test the closest support at 1.3277 - 1.3249.

The price is consolidating, but the market is likely going to climb even higher. Therefore, we should keep an eye on the next resistance at 1.3345 - 1.3374 as an intraday target, which could be a departure point for a bearish correction.

More:
https://fbs.com/analytics/articles/gbp-usd-market-going-to-climb-even-higher-3687

 

[riki143]

USD/CHF: FRANC GOT INTO DRAGON’S LAIR
08:42 13.09.2017

Recommendation:

BUY 0.9615 SL 0.956

TP1 0.9695 TP2 0.978 TP3 0.986

On the daily chart, USD/CHF formed a powerful reversal pattern “Triple bottom”. As a result, risks of a “Dragon” pattern increased, although bulls firstly need to get above resistance at 0.9615 and 0.9650.

On H1, USD/CHF keeps forming the “Dragon” pattern. Bullish movement will face at least one pullback (“Head of the Dragon”), although the pair may have already chosen its direction. As a result, buying on breakthroughs is the main strategy.

More:
https://fbs.com/analytics/articles/usd-chf-franc-got-into-dragon’s-lair-3689

 

[riki143]

GBP/USD: INDIANS ON THE HORIZON
08:52 13.09.2017

Recommendation:

SELL 1.34

SL 1.3455

TP1 1.3265 TP2 1.321

On the daily chart, GBP/USD keeps forming an AB=CD pattern. Its 127.2% target is near the line of “Three Indians”. This increases the risks of correction if bulls show weakness and fail to overcome important resistance at 1.3400.

On H1, a break above the level of 88.6% of the wave CD of the 5-0 pattern allowed bulls to resume the uptrend. The pair is currently forming “Spike and reversal with acceleration” and AB=CD.

More:
https://fbs.com/analytics/articles/gbp-usd-indians-on-the-horizon-3691

 

[riki143]

USD/JPY: "EVENING STAR" THE UPPER "WINDOW"
11:42 13.09.2017

The price reached the 144 Moving Average, so there's a bearish "Doji", which hasn't been confirmed enough. Therefore, we could have a local upward correction in the short term, but bears are likely going to deliver another decline afterwards.

We've got a bearish "Evening Star" on the upper "Window". Considering confirmation of this pattern, the pair is likely going to achieve the Moving Averages during the day.

More:
https://fbs.com/analytics/articles/usd-jpy-evening-star-the-upper-window-3694

 

[riki143]

EUR/USD: BEARISH "TWEEZERS"
11:43 13.09.2017

We've got an "Engulfing" and a "Belt hold" patterns on the 34 Moving Average. In this case, the market is likely going to test the nearest support once again. If a pullback from this level happens, we could have a bullish price movement towards the nearest "Window".

The price is consolidating near the Moving Averages. At the same time, we've got a bearish "Tweezers", but this pattern remains unconfirmed. So, the lower "Window" is going to act as support for the second time.

More:
https://fbs.com/analytics/articles/eur-usd-bearish-tweezers-3695

 

[riki143]

GBP/USD: POUND IS ON KIJUN’S SUPPORT
08:09 14.09.2017

Technical levels: support – 1.3180; resistance – 1.3280.

Trade recommendations:

Buy — 1.3200; SL — 1.3180; TP1 — 1.3280; TP2 — 1.3350.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with the rising lines; the prices are on the support of Kijun-sen.

More:
https://fbs.com/analytics/articles/gbp-usd-pound-is-on-kijun’s-support-3722

 

[riki143]

AUD/USD: AUSSIE ENTERED INTO CLOUD
08:10 14.09.2017

Technical levels: support – 0.7965; resistance – 0.8040, 0.8070.

Trade recommendations:

Buy — 0.7990; SL — 0.7970; TP1 — 0.8040; TP3 — 0.8070.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, falling Kijun-sen; the prices are entered into the Cloud, nut found a support of Senkou Span B.

More:
https://fbs.com/analytics/articles/aud-usd-aussie-entered-into-cloud-3723

 

[riki143]

EUR/JPY: BULLS ARE TAMING A DRAGON
08:46 14.09.2017

Recommendations:
BUY 130.9
SL 130.35
TP1 132 TP2 133.9
BUY 130.65
SL 130.1
TP1 132 TP2 133.9

On the daily chart, the attempt of bulls to settle above 132 failed. To start correction, bears need to conquer diagonal support in the form of the lower border of an uptrend. The lack of progress in this will return the initiative to buyers.

On H1, EUR/JPY finishes forming “Dragon” pattern. Pullbacks toward support at the “Coil of the Dragon’s Tail” and the following rebounds will allow forming long positions

More:
https://fbs.com/analytics/articles/eur-jpy-bulls-are-taming-a-dragon-3724

 

[riki143]

USD/JPY: BULLS GRAB THE BIGGEST PIECE OF THE PIE
09:01 14.09.2017
Recommendation:

BUY 109.9
SL 109.35
TP 111.65
BUY 109.4
SL 109.95
TP1 110.9 TP2 111.65

On the daily chart, bulls showed their strength as they managed to lead the pair outside of the long-term descending trend channel. Before that, the pair returned inside the medium-term uptrend channel. If buyers manage to keep the USD above 110.52, the odds of continuation towards 88.6% target of the Shark pattern will significantly increase.

On H1, USD/JPY formed a “Widening wedge” pattern. Pullbacks towards 23.6%, 38.2%, and 50% are usually used for opening longs.

More:
https://fbs.com/analytics/articles/usd-jpy-bulls-grab-the-biggest-piece-of-the-pie-3726

 

[riki143]

EUR/USD: BROKEN "PENNANT"
09:17 14.09.2017

The pair faced support at 1.1864, so the market is likely going to test the nearest resistance area at 1.1909 - 1.1925 in the short term. However, if a pullback from this area happens, we could have another decline in the direction of the next support at 1.1850 - 1.1822.

Bears found support at 1.1874 - 1.1864, so the price is rising. The main intraday target is the closest resistance at 1.1907 - 1.1925. Meanwhile, if we have a pullback from these levels, bears will probably try to reach the nearest support at 1.1851 - 1.1822.

More:
https://fbs.com/analytics/articles/eur-usd-broken-pennant-3727

 

[riki143]

GBP/USD: 55 MA ACTED AS SUPPORT
09:23 14.09.2017

We've got a "V-Top" pattern, which pushed the price to support at 1.3190. Therefore, the market is likely going to reach the nearest resistance at 1.3129 - 1.3249. If a pullback from this area happens, there'll be an opportunity to have a decline towards the next support at 1.3190 - 1.3159.

The 55 Moving Average has acted as support, so the price is consolidating. In this case, bulls are likely going to test the closest resistance at 1.3227 - 1.3249. However, if we see a pullback from this area, bears will probably try to achieve another support at 1.3186 - 1.3159.

More:
https://fbs.com/analytics/articles/gbp-usd-55-ma-acted-as-support-3729

 

[riki143]

USD/JPY: "WINDOW" ACTING AS SUPPORT
10:54 14.09.2017

The last "Window" has been broken, but the price is consolidating. Also, we've got bearish patterns such a "Harami" and a "Doji", but both of them haven't been confirmed enough. So, the 144 Moving Average is likely going to act as support.

We've got a bearish "Engulfing" at the last high, but this pattern hasn't been confirmed, cause the lower "Window" is acting as support. So, the price is likely going to test the nearest support level, which could be a departure point for another bullish rally.

More:
https://fbs.com/analytics/articles/usd-jpy-window-acting-as-support-3734

 

[riki143]

EUR/USD: "HAMMER" ON THE LOWER "WINDOW"
11:01 14.09.2017

We've got a bullish "Tower", which has been confirmed. So, the market is likely going to test the nearest resistance. If a pullback from this level happens, we could have just another decline.

There's a bullish "Hammer" on the lower "Window". Considering confirmation of this pattern, the price is likely going to test the Moving Averages in the short term.

More:
https://fbs.com/analytics/articles/eur-usd--hammer-on-the-lower-window-3735

 

[riki143]

EUR/USD: WAVE 4 TURNED OUT TO BE BIGGER
11:20 14.09.2017

We've got a new local low, so wave 4 turned out to be bigger. Previously, an ending diagonal pattern has been formed in wave [v] of 3. So, there's an opportunity to have just another bullish impulse in wave 5. The main intraday target is 8/8 MM Level.

1/8 MM Level has acted as support, so wave 4 may have been formed like a zigzag. In this case, bulls are likely going to deliver an upward impulse in wave . If a pullback from 4/8 MM Level happens a little later on, we could have a local bearish correction.

More:
https://fbs.com/analytics/articles/eur-usd--wave-4-turned-out-to-be-bigger-3736