Market analysis and trade recommendations by FBS

[riki143]

EUR/USD: ANOTHER PULLBACK FROM 0/8 MM LEVEL
10:00 09.10.2017

There's another pullback from 0/8 MM Level, so wave 4 may have been formed. Also, we've got a possible ending diagonal in wave [c] of 4. In this case, bulls are likely going to deliver an impulse in wave . The main intraday target is 2/8 MM Level.

-1/8 MM Level has acted as support, so we've got an upward impulse in wave (i). Moreover, wave (ii) is likely ended, so there's an opportunity to have another bullish impulse in wave (iii) of [iii] during the day.

More:
https://fbs.com/analytics/articles/eur-usd-another-pullback-from-0-8-mm-level-4268

 

[riki143]

USD/JPY: "TWEEZERS" AND "ENGULFING" PATTERNS
11:56 09.10.2017

We've got a "Tweezers" and an "Engulfing" patterns, which both have been formed at the local high. So, the 34 Moving Average is likely going to act as support soon. If a pullback from this line happens, we could have another bullish rally.

The price is still consolidating, cause the 144 Moving Average is acting as support. In this case, the pair is likely going to test the upper "Window", which could be a departure point for another decline.

More:
https://fbs.com/analytics/articles/usd-jpy-tweezers-and-engulfing-patterns-4269

 

[riki143]

EUR/USD: BULLISH "HIGH WAVE"
11:57 09.10.2017

There's a "High Wave" pattern, which has been confirmed. So, the market is likely going to test the 34 Moving Average, which could be a departure point for another decline.

We've got a local bullish "High Wave", so there's an opportunity to have an intraday upward price movement. The main target for buyers is the 144 Moving Average line.

More:
https://fbs.com/analytics/articles/eur-usd-bullish-high-wave-4270

 

[riki143]

AUD/USD: AUSSIE IN CORRECTION TO KIJUN
04:56 10.10.2017

Technical levels: support – 0.7760; resistance – 0.7800

Trade recommendations:

Sell — 0.7800; SL — 0.7820; TP1 — 0.7760; TP2 — 0.7715.
Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen and Kijun-sen; the prices are in correction inside of the channel Tenkan-Kijun.

More:
https://fbs.com/analytics/articles/aud-usd-aussie-in-correction-to-kijun-4285

 

[riki143]

USD/JPY: DOLLAR ENTERED INTO CLOUD
04:57 10.10.2017

Technical levels: support – 112.40; resistance – 113.30.

Trade recommendations:

Sell — 112.30; SL — 112.50; TP1 — 111.90; TP2 — 111.60.
Reason: bullish Ichimoku Cloud with rising Senkou Span B, but horizontal Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen, with horizontal Tenkan-sen and Kijun-sen; the prices are breaking down the SSA’s support and entered into the Cloud.

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-entered-into-cloud-4286

 

[riki143]

XAU/USD: BULLS COUNTERATTACKED
07:54 10.10.2017

Recommendation:

SELL $1277 SL $1292 TP $1247

On the daily chart, XAU/USD bulls managed to get to an important support at $1267 an ounce and let the pair outside of the short-term descending channel. The pair’s currently getting ready to conquer resistance at $1289. Success in this will open the way to $1302 and $1317. Failure will return the initiative to the bears.

On H1, after reaching 200% target of AB=CD XAU/USD pulled back. To resume active selling, bears need to return the pair inside the downtrend channel.

More:
https://fbs.com/analytics/articles/xau-usd-bulls-counterattacked-4289

 

[riki143]

USD/CAD: BULLS TOOK A PAUSE
08:07 10.10.2017

Recommendation:

BUY 1.2595

SL 1.254

TP1 1.2715 TP2 1.292 TP3 1.324

On the daily chart, bulls decided to take a pause after reaching the maximal level since the end of August. Until then, as long as the quotes are above support at 1.2462 (23.8% of the last medium-term term descending wave), buyers remain in control of the pair.

On H1, USD/CAD pulled back down after reaching resistance at 88.6% of the last descending wave and 161.8% target of AB=CD. To resume the uptrend bulls need to push the pair above 1.2595.

More:
https://fbs.com/analytics/articles/usd-cad-bulls-took-a-pause-4291

 

[riki143]

EUR/USD: 34 MA ACTING AS RESISTANCE
08:29 10.10.2017

The 34 Moving Average is acting as resistance, but the market is likely going to reach the next resistance at 1.1822 - 1.1837 in the short term. If a pullback from this area happens, we could have a decline towards the nearest support at 1.1739 - 1.1714.

The price has been rising since a pullback from the downtrend happened. The main intraday target is the closest resistance at 1.1822 - 1.1831, which could be a departure point for a bearish correction.

More:
https://fbs.com/analytics/articles/eur-usd-34-ma-acting-as-resistance-4292

 

[riki143]

GBP/USD: MARKET GOING TO TEST 89 MA
08:31 10.10.2017

There's a "V-Bottom", so the price is consolidating. It's likely that the market is going to test the 89 Moving Average in the short term. If a pullback from this line happens, there'll be an opportunity to have a decline towards the nearest support at 1.3150 - 1.3115.

The 55 Moving Average acted as resistance. At the same time, bulls are likely going to test the closest resistance at 1.3221 - 1.3256 during the day. If we see a pullback from these levels, bears will probably try to test another support at 1.3150 - 1.3115 afterwards.

More:
https://fbs.com/analytics/articles/gbp-usd-market-going-to-test-89-ma-4293

 

[riki143]

EUR/USD: EXTENSION IN WAVE (III) OF
08:54 10.10.2017

The price has been rising since a pullback from 0/8 MM Level happened. So, there's a developing bullish impulse, which could be wave . The main intraday target is 2/8 MM Level.

There's an extension in wave (iii) of , which hasn't been finished yet. Therefore, the price is likely going to test 3/8 MM Level, which could be a departure point for wave (iv). Nevertheless, bulls will try to reach 4/8 MM Level afterwards.

More:
https://fbs.com/analytics/articles/eur-usd-extension-in-wave-iii-of-i-4294

 

[riki143]

USD/JPY: CONSOLIDATION ABOVE "WINDOW"
12:07 10.10.2017

The price is still consolidating above the upper "Window". Also, there are a "Tweezers" and an "Engulfing" patterns, which both have been formed at the last high. So, bears are likely going to test the 89 Moving Average soon.

There's an opportunity to have any bullish pattern on the achieved "Window" level. If so, we're likely going to have a local upward correction. Nevertheless, bears will try to deliver another decline.

More:
https://fbs.com/analytics/articles/usd-jpy-consolidation-above-window-4295

 

[riki143]

EUR/USD: "THREE METHODS" PATTERN
12:10 10.10.2017

The last "High Wave" pattern led to an achievement of the 55 Moving Average, which acted as resistance. However, bulls are likely going to test the 89 Moving Average in the short term. If a pullback from this line happens little later on, we could have another decline.

There's a "Three Methods" pattern, which pushed the price even higher, so the 144 MA has been broken. Meanwhile, there's an opportunity to have a downward correction towards the nearest support, which could be a departure point for just another bullish price movement.

More:
https://fbs.com/analytics/articles/eur-usd-three-methods-pattern-4296

 

[riki143]

EUR/USD: 89 MA ACTED AS RESISTANCE
06:56 11.10.2017

The 89 Moving Average has acted as resistance, so the price is consolidating. Nevertheless, the pair is likely going to test the next resistance at 1.1848 - 1.1860 in the short term. If a pullback from this area happens little later on, there'll be an opportunity to have a bearish correction towards the nearest support at 1.1793 - 1.1772.

The price is consolidating between the levels 1.1822 - 1.1793. The main intraday target is the closest resistance at 1.1848 - 1.1860. However, if we see a pullback from these levels, bears will probably try to achieve another support at 1.1822 - 1.1793.

More:
https://fbs.com/analytics/articles/eur-usd-89-ma-acted-as-resistance-4311

 

[riki143]

GBP/USD: LOCAL "DOUBLE TOP" PATTERN
06:57 11.10.2017

There's a consolidation, which is taking place under the nearest resistance at 1.3221. The main intraday target is the closest support at 1.3182 - 1.3150. If we have a pullback from this area, bulls will probably try to reach the 89 Moving Average.

The 89 Moving Average has acted as resistance, so there's a "Double Top" pattern. In this case, the market is likely going to test the 34 MA during the day. Meanwhile, if a pullback from this line happens afterwards, there'll be an option to have an upward price movement in the direction of the next resistance at 1.3221 - 1.3256.

More:
https://fbs.com/analytics/articles/gbp-usd-local-double-top-pattern-4312

 

[riki143]

EUR/USD: WAVE ABOUT TO END
07:16 11.10.2017

Wave 4 may have been formed, cause there's a pullback from 0/8 MM Level. Also, a bullish impulse in wave is about to end, so we could have a downward correction in the short term. The main intraday target for wave [ii] is 1/8 MM Level, which could be a departure point for wave [iii] of 5.

There's a developing impulse in wave . It's likely that wave (v) is going to end on 4/8 MM Level. Therefore, there's an opportunity to have wave [ii] during the day. In this case, we should keep an eye on 2/8 MM Level as an intraday bearish target.

More:
https://fbs.com/analytics/articles/eur-usd-wave-i-about-to-end-4313

 

[riki143]

USD/JPY: "SHOOTING STAR" PATTERN
12:21 11.10.2017

The price is still consolidating. Also, there's a bullish "Engulfing" on the 55 Moving Average, but this pattern remains unconfirmed. So, the price is likely going to continue moving down until any reversal pattern arrives.

We've got a "Shooting Star" pattern, which has been formed on the 55 & 89 Moving Averages. In this case, the pair is likely going to test the nearest support area during the day.

More:
https://fbs.com/analytics/articles/usd-jpy-shooting-star-pattern-4325

 

[riki143]

EUR/USD: PRICE GOING TO TEST MOVING AVERAGES
12:23 11.10.2017

There's a bearish "Shooting Star", which has been formed on the 89 Moving Average. However, this pattern is still unconfirmed, so we could have just a local correction. Therefore, bulls are likely going to deliver a new local high soon.

At the same time, we've got a confirmed "Shooting Star" on the one-hour chart. So, the price is likely going to test the Moving Averages in the coming hours. If a pullback from these lines happens next, there'll be an opportunity to have another upward price movement.

More:
https://fbs.com/analytics/articles/eur-usd-price-going-to-test-moving-averages-4326

 

[riki143]

EUR/USD: EURO TESTED SBB’S RESISTANCE
06:54 12.10.2017

Technical levels: support – 1.1850, 1.1830; resistance – 1.1890, 1.1940.

Trade recommendations:

Buy — 1.1850; SL — 1.1830; TP1 — 1.1890; TP2 – 1.1940.
Reason: bearish Ichimoku Cloud with rising Senkou Span A; a strong golden cross of Tenkan-sen and Kijun-se with rising Tenkan-sen and Kijun-sen; the prices are under Senkou Span B and will try to breakout.

More:
https://fbs.com/analytics/articles/eur-usd-euro-tested-sbb’s-resistance-4341

 

[riki143]

USD/JPY: DOLLAR MAY GO LOWER
06:55 12.10.2017

Technical levels: support – 112.00, 111.60; resistance – 112.70.

Trade recommendations:

Sell — 112.20; SL — 112.40; TP1 — 111.60; TP2 — 111.30.
Reason: bullish Ichimoku Cloud, but falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; but the market is under the Tenkan’s resistance.

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-may-go-lower-4342

 

[riki143]

EUR/USD: PRICE GOING TO CONTINUE RISING
07:13 12.10.2017

All the Moving Averages have been broken, so the market is likely going to continue moving up in the short term. The main bullish target is the nearest resistance at 1.1892 - 1.1914. If we have a pullback from this area, bears will try to test the closest support at 1.1837 - 1.1822.

Bulls faced with resistance at 1.1889, so the price is consolidating. In this case, bears are likely going to test the nearest support at 1.1848 - 1.1831 during the day. Meanwhile, if a pullback from these levels happens little later on, we could have another bullish rally towards the next resistance.

More:
https://fbs.com/analytics/articles/eur-usd-price-going-to-continue-rising-4343