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Market analysis and trade recommendations by FBS

GBP/USD: BULLISH "WEDGE" PATTERN
08:01 26.09.2017

1506412633-ec3348dffc6c4ca6a332e46a1c72ba48_1200x1200_q90v3.png


The price is consolidating between the levels. Also, there's a bullish "Wedge" pattern, so the pair is likely going to test the nearest support at 1.3444 - 1.3404. If a pullback from this target happens, there'll be an opportunity to have an upward price movement in the direction of the next resistance at 1.3625 - 1.3681.

1506412633-09f970e131fab6f1a9206362ceb1446e_1200x1200_q90v3.png


The 89 Moving Average has acted as support, so we could have a local upward correction. However, if the 34 MA acts as resistance, bears are likely going to reach another support at 1.3404 afterwards.

More:
https://fbs.com/analytics/articles/gbp-usd-bullish-wedge-pattern-3976
 
EUR/USD: BEARISH "HARAMI" LED TO DECLINE
12:19 26.09.2017

1506428232-b80d818189619375eb55ad1ba5289c81_1200x1200_q90v3.png


The last bearish "Harami" led to a decline. Also, there's a "Three Methods" pattern, so the market is likely going to continue falling down towards the nearest support area in the short term.

1506428232-ac7aeb3eb3a9265a21631ce61732a351_1200x1200_q90v3.png


There isn't any reversal pattern so far, but we could have a local upward correction. Anyway, bears are likely going to push the price even lower afterwards.

More:
https://fbs.com/analytics/articles/eur-usd-bearish-harami-led-to-decline-3979
 
USD/JPY: 89 MA ACTED AS SUPPORT
12:23 26.09.2017

1506428232-3c0237f6901c8279f4cec2bdcb01428a_1200x1200_q90v3.png


There are a "Shooting Star" and a "Harami" patterns, which both have been confirmed. So, we should keep an eye on the 55 Moving Average as an intraday target.

1506428232-44a52ca186c20f3b9a2689d5dd97cc3e_1200x1200_q90v3.png


The 89 Moving Average has acted as support, so we've got a bullish "High Wave" pattern on this line. In this case, the pair is likely going to test the 34 MA, which could be a departure point for another decline.

More:
https://fbs.com/analytics/articles/usd-jpy--89-ma-acted-as-support-3980
 
USD/CHF: FRANC HAS DRAWN A TRIANGLE
07:09 27.09.2017

Recommendation:

BUY 0.9745 SL 0.969

TP 0.9845, SELL 0.965

SL 0.9705 TP 0.9585

On the daily chart, USD/CHF keeps forming the “Dragon” pattern. Renewal of September high will allow to expect process growth towards the curl of the Dragon’s tail and the upper border of the descending trend channel.

1506496089-a5903a7f3cf43bc4f33886526fd841ba_1200x1200_q90v3.png


On H1, USD/CHF formed a triangle. A successful test of its upper border and resistance at 0.9745 will increase the odds of the rally’s continuation. On the other hand, a break below the triangle’s lower border, the uptrend channel, and support at 0.9650 will trigger a correction.

1506496110-351a015a31e5fdb2fee97b43bc66aebc_1200x1200_q90v3.png


More:
https://fbs.com/analytics/articles/usd-chf-franc-has-drawn-a-triangle-4004
 
GBP/USD: BEARS ENTERED INTO CLOUD
07:17 27.09.2017

Technical levels: support – 1.3310, 1.3255; resistance – 1. 3560.

Trade recommendations:

Buy — 1.3260; SL — 1.3240; TP1 — 1.3440; TP2 — 1.3560.
Reason: bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, with the falling lines; the market entered into the cloudy area and may go lower to the support of Senkou Span B.

1506496620-5838ef800660551113de2aff99712827_1200x1200_q90v3.png


More:
https://fbs.com/analytics/articles/gbp-usd-bears-entered-into-cloud-4005
 
AUD/USD: AUSSIE IS OVERSOLD
07:18 27.09.2017

Technical levels: support – 0.7830; resistance – 0.7900, 0.7940.

Trade recommendations:

Buy — 0.7830; SL — 0.7810; TP1 — 0.7900; TP3 — 0.7870.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen; the prices are in the oversold area; strong support on 0.7830.

1506496620-77792247dfb92d8a1910c0d72fd89ccb_1200x1200_q90v3.png



More:
https://fbs.com/analytics/articles/aud-usd-aussie-is-oversold-4006
 
GBP/USD: POUND IS FLIRTING WITH INDIANS
07:23 27.09.2017

Recommendations:

SELL 1.34 SL 1.3455 TP 1.3325 TP2 1.322

BUY 1.356 SL 1.3505 TP1 1.356 TP2 1.375

On the daily chart, GBP/USD keeps forming “Three Indians” pattern. A successful test of support at 1.3400 will allow bears to develop correction. Never the less, pound is in the clear bullish trend, so targets of shorts should be moderate.

1506496946-b6b56ed02b1869ac79ae2067aff9ca74_1200x1200_q90v3.png


On H1, a repeated test of support at 1.34 will increase the odds of realization of 88.6% target of the “Shark” pattern. Return of the price to the middle of the 1.3465-1.3610 consolidation range will trigger “Shakeout-Fakeout” pattern and create grounds for resumption of the bullish trend.

1506496969-2cf183d9aa99dd882e50bd88c66a58cb_1200x1200_q90v3.png


More:
https://fbs.com/analytics/articles/gbp-usd-pound-is-flirting-with-indians-4007
 
EUR/USD: BROKEN "PENNANT"
08:32 27.09.2017

1506501083-84d83230f72f5a16f189c4d2e469769a_1200x1200_q90v3.png


Bears went through support at 1.1772, so we should keep an eye on the next support at 1.1714 - 1.1688 as the next intraday target. If a pullback from this area happens, we could have an upward correction towards the nearest resistance at 1.1772 - 1.1793.

1506501083-225443a50fe34bf07d28d2c4cdac4625_1200x1200_q90v3.png


The last "Pennant" pattern has been broken, so the price is declining. The main target is the closest support area at 1.1714 - 1.1688, which could be a departure point for a bullish correction.

More:
https://fbs.com/analytics/articles/eur-usd-broken-pennant-4011
 
GBP/USD: BEARS GOING TO TEST ANOTHER SUPPORT
08:34 27.09.2017

1506501082-9afc452c8140c689855ef68f22a15535_1200x1200_q90v3.png


The local uptrend has been broken, so the pair is likely going to decline in the direction of the next support at 1.3328 - 1.3278. However, if we have a pullback from these levels, there'll be an opportunity to have an upward correction towards the nearest resistance at 1.3444 - 1.3479.

1506501082-348fa99cf0afc9179a6d7dda2ca9cce1_1200x1200_q90v3.png


The pair faced with resistance at 1.3374, so bears are likely going to test another support at 1.3328 - 1.3278 during the day. If we have a pullback from this area, bulls will probably try to test the closest resistance at 1.3404.

More:
https://fbs.com/analytics/articles/gbp-usd-bears-going-to-test-another-support-4012
 
EUR/USD: BEARISH "THREE METHODS"
12:45 27.09.2017

1506516291-93aa58d0f278d8c18b41209485fe1761_1200x1200_q90v3.png


We've got a bearish "Three Methods" pattern, so the price is declining. There isn't any reversal pattern so far, which means bears are likely going to push the price even lower in the short term.

1506516291-185673d510bdd10a8e1fabeb5546f7fc_1200x1200_q90v3.png


There's a bullish "Harami", but this pattern remains unconfirmed. Therefore, we could have just a local upward correction. If a pullback from the nearest resistance happens little later on, bears will try to deliver a new local low.

More:
https://fbs.com/analytics/articles/eur-usd-bearish-three-methods-4018
 
USD/JPY: PAIR GOING TO CONTINUE MOVING UP
12:48 27.09.2017

1506516291-7de61e9c3f747e5bb1115b19af1ad01f_1200x1200_q90v3.png


The last "Window" has been broken, so we don't have any reversal pattern so far. In this case, the pair is likely going to continue moving up towards the next resistance level.

1506516291-24f475003b9a0655e1e97464429ac6bb_1200x1200_q90v3.png


We've got a bearish "Harami", which hasn't been confirmed yet. So, there's an opportunity to have a local correction during the day. However, bulls will try to deliver a new local high afterwards.

More:
https://fbs.com/analytics/articles/usd-jpy-pair-going-to-continue-moving-up-4019
 
EUR/USD: PRICE ACHIEVED 0/8 MM LEVEL
13:33 27.09.2017

1506519146-a1dcfbc641c9bdbb4a9306d2073a906f_1200x1200_q90v3.png


The price is still declining. It seems like wave 4 is taking the form of a zigzag, which is about to end. So, if a pullback from 0/8 MM Level happens later on, there'll be an opportunity to have wave of 5.

1506519147-fb7e1ef6f549363bd469a744d113cd6a_1200x1200_q90v3.png


The pair has achieved 0/8 MM Level, which could act as support. If so, bulls are likely going to deliver wave . The main intraday target is 2/8 MM Level.

More:
https://fbs.com/analytics/articles/eur-usd-price-achieved-0-8-mm-level-4030
 
EUR/JPY: BEARS ARE LOSING POWER
07:10 28.09.2017
Recommendation:

BUY 133.05

SL 132.5

TP1 134.45 TP2 135.5

On the daily chart, after EUR/JPY reached 161.8% target of AB=CD and corrected, it rebounded from the key support level at 132.05. Bulls are trying to use pin bar and resume the uptrend.

1506582572-1f6af6cb3116c37c6462f86b902bb181_1200x1200_q90v3.png


On H1, EUR/JPY formed a “Widening wedge” and broke below the diagonal support in the lower part of the trade channel. To resume the uptrend, bulls will need to return the pair inside the trend channel. To do this, they should get above resistance at 133.05.

1506582586-b5844b895084494810d4a7763b181f55_1200x1200_q90v3.png


More:
https://fbs.com/analytics/articles/eur-jpy-bears-are-losing-power-4041
 
USD/JPY: BULLS KEEP PUSHING
07:15 28.09.2017

Recommendation:

BUY 112.5 SL 111.95 TP1 113.7 TP2 114.25 TP3 115.3

BUY 111.85 SL 111.35 TP1 113.7 TP2 114.25

On the daily chart, USD/JPY approached 88.6% target of the inverted “Shark” pattern. If they succeed to keep the pair above 113, the pair may go for 113% target.

1506582882-3297c54597baddc0779dab87f73568a2_1200x1200_q90v3.png


On H1, USD/JPY keeps rising towards 224% target of AB=CD. The nearest resistance is close to 113.65. A recoil down from this level is likely. Trend remains bullish, so correction with the following recoil to the downside may be used for buying.

1506582898-1f50b4d918123f905c31c70a9dfda50a_1200x1200_q90v3.png


More:
https://fbs.com/analytics/articles/usd-jpy-bulls-keep-pushing-4042
 
EUR/USD: EURO ON MAIN SUPPORT
07:25 28.09.2017

Technical levels: support – 1.1725; resistance – 1.1800, 1.1875.

Trade recommendations:

Buy — 1.1725; SL — 1.1700; TP1 — 1.1800; TP2 – 1.1825.
Reason: bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, falling lines; the market is oversold and the prices on the main daily support of the Cloud.

1506583534-5974574d0f06c411e972e24d898d2405_1200x1200_q90v3.png


More:
https://fbs.com/analytics/articles/eur-usd-euro-on-main-support-4044
 
EUR/USD: PRICE GOING TO CONTINUE FALLING
09:05 28.09.2017

1506589445-205d40d853f47d3079eeeddd04f8d975_1200x1200_q90v3.png


Bears faced with support at 1.1714, so the price is consolidating. However, the market is likely going to continue falling down towards the next support at 1.1688 - 1.1661. If a pullback from this area happens, we could have an upward price movement in the direction of the nearest resistance at 1.1793 - 1.1822.

1506589445-133466c6f9afafe21f7151d7a50583be_1200x1200_q90v3.png


The price is consolidating between the levels 1.1714 - 1.1772. The 34 Moving Average is likely going to act as resistance during the day. If a pullback from this line happens, we could have another decline towards the closest support at 1.1714 - 1.1688.

More:
https://fbs.com/analytics/articles/eur-usd-price-going-to-continue-falling-4050
 
GBP/USD: BEARISH "PENNANT"
09:07 28.09.2017

1506589446-b42b245bd8c6528671e381f13716d76e_1200x1200_q90v3.png


There's a downward "Wedge", so the market is likely going to decline towards the nearest support at 1.3328 - 1.3278. If a pullback from this area happens little later on, there'll be an opportunity to have an upward price movement in the direction of the closest resistance at 1.3444 - 1.3479

1506589445-a1865e43e1ffac004a1ccfcd9c788492_1200x1200_q90v3.png


We've got a consolidation, which is taking place under the 34 Moving Average. Also, there's a "Pennant", so bears are likely going to decline towards the next support at 1.3328 - 1.3278. Meanwhile, if a pullback from these levels arrives afterwards, bulls will try to test the nearest resistance at 1.3374 - 1.3404.

More:
https://fbs.com/analytics/articles/gbp-usd-bearish-pennant-4051
 
EUR/USD: BULLISH "TWEEZERS" PATTERN
12:40 28.09.2017

1506602368-e33f6801b512c0fd40d95d319ccb275c_1200x1200_q90v3.png


There are bullish patterns such an "Inverted Hammer" and an "Engulfing", which both have been confirmed enough. So, we could have a local upward correction. If a pullback from the nearest resistance happens, bears will try to deliver a new local low.

1506602368-f99738892c94965f1f51c8264bce0ec6_1200x1200_q90v3.png


We've got a bullish "Tweezers" pattern. Also, there's a "Three White Soldiers", so we should keep an eye on the 55 Moving Average as an intraday target. If a pullback from this line happens, there'll be an opportunity to have another decline.

More:
https://fbs.com/analytics/articles/eur-usd-bullish-tweezers-pattern-4052
 
USD/JPY: BEARISH "ENGULFING
12:42 28.09.2017

1506602368-9b3402130b5add5c974b351bfa9fb2e7_1200x1200_q90v3.png


We've got a bearish "Engulfing", but confirmation of this pattern is a quite weak. So, we could have just a local correction. In this case, bulls are likely going to break the last high once again.

1506602368-90f8fa4f628b9cbc46c62930a7d2d6c3_1200x1200_q90v3.png


There are a "Harami" and a "High Wave" patterns, which both have been formed at the local high. Therefore, the 55 Moving Average is likely going to act as support during the day.

More:
https://fbs.com/analytics/articles/usd-jpy-bearish-engulfing-4053
 
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