Market analysis and trade recommendations by FBS

[riki143]

USD/JPY: DOLLAR APPROACHED TO RESISTANCE
05:17 11.05.2017

Technical levels: support – 113.90, 113.30; resistance – 114.50.

Trade recommendations:

1. Sell — 114.50; SL — 112.70; TP1 — 113.30; TP2 — 112.80.

Reason: bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the prices are under strong daily resistance.

More:
https://fbs.com/analytics/articles/usd_jpy:_dollar_approached_to_resistance_969

 

[riki143]

EUR/USD: BEARS GOING TO TEST "BREAKAWAY GAP"
06:59 11.05.2017

The price is consolidating above the 55 Moving Average. Therefore, the market is likely going to decline towards support at 1.0819, which is near the last "Breakaway Gap". If a pullback from this level happens, there'll be an opportunity to have an upward price movement in the direction of resistance at 1.0851 - 1.0874.

Bears faced a support at 1.0863, so the price is consolidating. In this case, the pair is likely going to test the nearest resistance at a 1.0905. However, if we see a pullback from this level, bears will probably try to reach support at 1.0819.

Moore:
https://fbs.com/analytics/articles/eur_usd:_bears_going_to_test_"breakaway_gap"_971

 

[riki143]

GBP/USD: "RISING WEDGE" GOING TO BE BROKEN
07:03 11.05.2017

Bulls faced resistance at 1.2995, so there's a "V-Top" pattern. Under this circumstances, the market is likely going to achieve the 34 Moving Average in the short term. If a pullback from this line arrives afterwards, there'll be an option to have another upward price movement towards resistance at 1.2945 - 1.2964.

There's a "V-Top" pattern, so the price is consolidating along the Moving Averages. Therefore, bulls are likely going to test the closest resistance at 1.2952 - 1.2964, which could be a departure point for another decline. So, we should keep an eye on support at 1.2913 - 1.2901 as an intraday bearish target.

More:
https://fbs.com/analytics/articles/gbp_usd:_"rising_wedge"_going_to_be_broken_972

 

[riki143]

EUR/USD: WAVE II GOING TO END
09:45 11.05.2017

There's a pullback from 6/8 MM Level, so wave 2 may have been ended in the form of a double zigzag. Therefore, we could have a bearish impulse in wave (i). The main intraday target is 4/8 MM Level.

As we can see on the one-hour chart, there's a bearish impulse in wave i with a triangle in wave [4]. Also, we've got a pullback from 4/8 MM Level, so bulls are likely going to deliver wave ii, which could take the form of a zigzag. If a pullback from 5/8 MM Level happens afterwards, bears will try to break the last low.

More:
https://fbs.com/analytics/articles/eur_usd:_wave_ii_going_to_end_975

 

[riki143]

Key option levels for Thursday, May 11th
11/05/2017

If you have any questions or requests fill out the feedback form.

EUR/USD

Main trend Short-term period Medium-term period
Bullish Neutral
Changes in the open interest + 69 735 ↑ + 81 101 ↑
Closest resistance levels 1.0887; 1.0908; 1.0936; 1.0981
Closest support levels 1.0864; 1.0837; 1.0800; 1.0745
Trading recommendations
Baseline scenario Long EUR/USD above 1.0887, with target points at 1.0908 and 1.0936
Alternative scenario Moving below 1.0864 can be considered as a signal to Sell the pair, with target at 1.0837 and 1.0800


AUD/USD

Main trend Short-term period Medium-term period
Bullish Bearish
Changes in the open interest + 733 ↑ + 175 ↑
Closest resistance levels 0.7360; 0.7400; 0.7446; 0.7479
Closest support levels 0.7341; 0.7312; 0.7288; 0.7258
Trading recommendations
Baseline scenario Long AUD/USD above 0.7360, with the target points at 0.7400 and 0.7446
Alternative scenario Moving below 0.7341 can be considered as a signal to Sell the pair, with target at 0.7312 and 0.7288

More:
https://fxbazooka.com/analytics/13159

 

[riki143]

EUR/USD: LOWER "WINDOW" WAITING FOR BEARS
13:46 11.05.2017

There's resistance by the "Window", but the 55 Moving Average is acting as support. Also, we don't have any reversal pattern so far, which means bears are going to test the next "Window" in the short term.

The 34 Moving Average is acting as resistance, so we've got a bearish "Engulfing" on this line. However, confirmation of this pattern is a quite weak, so the 34 MA could be tested once again. Meanwhile, there's an opportunity to have a new low soon.

More:
https://fbs.com/analytics/articles/eur_usd:_lower_"window"_waiting_for_bears_977

 

[riki143]

USD/JPY: BEARISH "TOWER"
14:19 11.05.2017

We've got a local bearish correction inside the main bullish trend. Considering the last "Engulfing" pattern, the market is likely going to test the 21 Moving Average, which could be a departure point for another upward price movement towards the next "Window".

There's a "Tower' pattern, which led to the current decline. The price has reached the 34 Moving Average, so we could have a local bullish correction. Nevertheless, bears are likely going to continue pushing the price even lower.

More:
https://fbs.com/analytics/articles/usd_jpy:_bearish_"tower"_978

 

[riki143]

GBP/JPY REVERSED FROM RESISTANCE ZONE
16:52 11.05.2017

GBP/JPY reversed from resistance zone
Next sell target - 144.60
GBP/JPY recently reversed down from the powerful resistance zone lying between the multi-month resistance level 148.60 (which stopped the previous primary ABC correction ② in December, as can be seen from the daily GBP/JPY chart below), upper daily Bollinger Band and the 61.8% Fibonacci correction of the sharp downward impulse from last July.

GBP/JPY is expected to fall to the next sell target at the next support level 144.60 (previous resistance level from January, acting as support now after it was broke earlier).

More:
https://fbs.com/analytics/articles/gbp_jpy_reversed_from_resistance_zone_979

 

[riki143]

EUR/AUD REVERSED FROM KEY RESISTANCE LEVEL 1.4900
16:54 11.05.2017

EUR/AUD reversed from key resistance level 1.4900
Next sell target - 1.4650
EUR/AUD has been falling in the last few trading sessions after the earlier sharp downward reversal from the key resistance level 1.4900 (which stopped the previous minor corrective wave B in November, as can be seen from the daily EUR/AUD chart below). The downward reversal from the resistance level 1.4900 created the daily Japanese candlesticks reversal pattern Shooting Star Doji.

Wit the daily Stochastic indicator still moving in the overbought area - EUR/AUD is expected to fall to the next sell target at the next support level 1.4650 (former resistance level which stopped the previous impulse wave 3 in April).

More:
https://fbs.com/analytics/articles/eur_aud_reversed_from_key_resistance_level_1.4900_980

 

[riki143]

EUR/USD: EURO ENTERED INTO CLOUD
05:21 12.05.2017

Technical levels: support – 1.0820; resistance – 1.0940, 1.0980.

Trade recommendations:

Buy — 1.0820; SL — 1.0800; TP1 — 1.0940; TP2 – 1.0980.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but horizontal Tenkan-sen; the prices are entered into the cloudy area and would be supported by Senkou Span B.

More:
https://fbs.com/analytics/articles/eur_usd:_euro_entered_into_cloud_987

 

[riki143]

GBP/USD: POUND RETURNED TO CLOUD
05:22 12.05.2017

Technical levels: support – 1.2850; resistance – 1.2915, 1.2950.

Trade recommendations:

Sell — 1.2900; SL — 1.2920; TP1 — 1.2810; TP2 — 1.2710.
Reason: narrowing bullish Ichimoku Cloud, falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen; the prices are entered into the Cloud and under the resistance of Senkou Span A.

More:
https://fbs.com/analytics/articles/gbp_usd:_pound_returned_to_cloud_988

 

[riki143]

EUR/USD: BEARS READY TO GO
07:33 12.05.2017

The price is consolidating between the 34 & 55 Moving Averages. Considering the last "Triple Top" pattern, the market is likely going to test the nearest support at 1.0819 - 1.0729, which was formed by the "Breakaway Gap". If a pullback from this area happens, we could have a bullish price movement towards resistance at 1.0851.

We've got a consolidation, which is taking place under the Moving Averages. Also, there's a bullish "Thorn", so the pair is likely going to achieve the nearest resistance at 1.0892, which could be a departure point for a decline in the direction of support at 1.0838 - 1.0819.

More:
https://fbs.com/analytics/articles/eur_usd:_bears_ready_to_go_989

 

[riki143]

GBP/USD: BEARISH "PENNANT"
07:38 12.05.2017

The 55 Moving Average is acting as a support. Also, there's a "V-Bottom", so the price is consolidating. In this case, bears are likely going to test support at 1.2865 in the short term. If we see a pullback from this level, bulls will probably try to test the 34 Moving Average.

We've got a bearish "Pennant", so the market is likely going to achieve the closest support at 1.2830 - 1.2865. However, if a pullback from this area happens, there'll be an opportunity to have an upward price movement towards resistance at 1.2863 - 1.2883.

More:
https://fbs.com/analytics/articles/gbp_usd:_bearish_"pennant"_992

 

[riki143]

EUR/USD: BULLISH "HAMMER"
12:33 12.05.2017

There's strong resistance by the upper "Window". At the same time, we've got a bullish "Harami" at the last low, but confirmation of this pattern is a quite weak. Therefore, the price is likely going to test the "Window" once again. If a pullback from this level happens, we could have a downward price movement towards the nearest support.

The market is consolidating. However, there's a bullish "Hammer", which has been confirmed. In this case, the price is likely going to rise towards the closest "Window" during the day. Nevertheless, bears will probably try to deliver a new local low afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_bullish_"hammer"_993

 

[riki143]

USD/JPY: "HAMMER" AND "INVERTED HAMMER"
12:35 12.05.2017

We've got a "Hammer" and an "Inverted Hammer" at the local low. So, the price is likely going to test the last high in the short term. If any bearish pattern arrives afterwards, there'll be an opportunity to have a decline towards the Moving Averages.

The 55 Moving Average has acted as a support, so we've got an "Inverted Hammer", which has been confirmed enough. Therefore, the pair is likely going to test the upper "Window" in the coming hours.

More:
https://fbs.com/analytics/articles/usd_jpy:_"hammer"_and_"inverted_hammer"_994

 

[riki143]

EUR/USD: BEARISH CORRECTION ON THE WAY
12:49 12.05.2017

There's a possible bearish impulse in wave (i), which is in progress. Previously, wave 2 has ended in the form of a double zigzag. Therefore, the market is likely going to continue moving down in wave (i) in the short term.

As we can see on the one-hour chart, the price is rising in wave [C] of ii. The main intraday target is 6/8 MM Level. If a pullback from this line happens, bears are likely going to deliver a downward impulse in wave [1].

More:
https://fbs.com/analytics/articles/eur_usd:_bearish_correction_on_the_way_995

 

[riki143]

AUD/CHF REACHED BUY TARGET 0.7320
12:54 12.05.2017

AUD/CHF reached buy target 0.7320
Next buy target - 0.7520
AUD/CHF continues to rise steadily – after the earlier breakout of the resistance level 0.7320, which was set as the buy target in our previous forecast for this currency pair. The breakout of the resistance level 0.7320 accelerated the active minor corrective wave (ii) – which started earlier from the key multi-month support level 0.7270 (which has been reversing the price from last year).

AUD/CHF is expected to rise to the next buy target at the next resistance level 0.7520 (previous resistance level, which reversed the price earlier this month).

More:
https://fbs.com/analytics/articles/aud_chf_reached_buy_target_0.7320_996

 

[riki143]

AUD/NZD REVERSED FROM POWERFUL SUPPORT ZONE
12:57 12.05.2017

AUD/NZD reversed from powerful support zone
Next buy target - 1.0920
AUD/NZD recently reversed up sharply from the powerful support zone lying at the intersection of the pivotal support level 1.0650 (which has been reversing the price from the end of February), lower daily Bollinger Band and the 50% Fibonacci correction of the earlier sharp upward impulse wave ? from January. The upward reversal from this support zone started the active impulse wave ?.

AUD/NZD is expected to rise to the next buy target at the next resistance level 1.0920 (which reversed the pair sharply at the end of April).

More:
https://fbs.com/analytics/articles/aud_nzd_reversed_from_powerful_support_zone_997

 

[riki143]

EUR/USD: BULLS FEELS CONFIDENT
05:13 15.05.2017

Technical levels: support – 1.0890; resistance – 1.0940, 1.0980.

Trade recommendations:

Buy — 1.0890; SL — 1.0870; TP1 — 1.0940; TP2 – 1.0980.
Reason: narrow bullish Ichimoku Cloud, but rising Senkou Span B; a cancelled dead cross of Tenkan-sen and Kijun-sen with horizontal lines; expected a new golden cross; the prices are resistance of Senkou Span A.

More:
https://fbs.com/analytics/articles/eur_usd:_bulls_feels_confident_1008

 

[riki143]

AUD/USD: AUSSIE TESTED A RESISTANCE OF CLOUD
05:15 15.05.2017

Technical levels: support – 0.7370; resistance – 0.7420, 0.7470.

Trade recommendations:

Buy — 0.7400; SL — 0.7380; TP1 — 0.7470.
Sell — 0.7470; SL — 0.7490; TP1 — 0.7380; TP2 — 0.7340.
Reason: narrowing bearish Ichimoku Cloud, rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the bulls are want to enter into the Cloud.

More:
https://fbs.com/analytics/articles/aud_usd:_aussie_tested_a_resistance_of_cloud_1009