Market analysis and trade recommendations by FBS

[riki143]

GBP/USD: POUND IS UNDER CLOUD’S RESISTANCE
09:42 26.06.2017

Technical levels: support – 1.2670; resistance – 1.2765.

Trade recommendations:

Sell — 1.2740; SL — 1.2460; TP1 — 1.2670; TP2 — 1.2630.
Reason: narrowing bearish Ichimoku Cloud; rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with falling Kijun-sen; the market is under strong resistance of the 4H-Cloud.

More:
https://fbs.com/analytics/articles/gbp_usd:_pound_is_under_cloud’s_resistance_1807

 

[riki143]

NZD / USD: KIWI SETS NEW TARGETS
09:58 26.06.2017

Recommendation: BUY 0,7297 SL 0,7242 TP 0,7445.

On the NZD/USD daily chart, the correction has finished at the level 23,5% of the CD wave of the Shark patter. This is a signal of the bulls’ strength. If they manage to update June high, the target 88,6% will be no longer relevant; there will be another target 113%.

On the NZD/USD hourly chart, the quotes went beyond the limits of the triangle. New Zealand dollar tested the upper border of the consolidation in the Splash and ledge pattern on the basis of 1-2-3. Then, there was a rollback. Another test of the resistance at 0.7297 will increase the risks for the continuation of the rally.

More:
https://fbs.com/analytics/articles/nzd___usd:_kiwi_sets_new_targets__1808

 

[riki143]

GBP/USD: POUND RESTORES THE TREND
10:01 26.06.2017

On the GBP/USD daily chart, there is a realization of the Wolfe Waves pattern. The breakout of the diagonal resistance will be a signal for the start of the rally towards $ 1,305. A prerequisite for the implementation of the target is the successful break of the ?1.28-1.2815 area.

On the GBP/USD hourly chart, the "Expanding Wedge" pattern has been formed. For its activation, point 3 needs to be updated. A successful test of the resistance 1.2815 will allow us to do this. Once the resistance is tested and point 3 is updated there might be a continuation of the rally towards the target 88.6% of the inverted Shark pattern.

More:
https://fbs.com/analytics/articles/gbp_usd:_pound_restores_the_trend_1809

 

[riki143]

EUR/USD: BULLISH "PENNANT"
10:43 26.06.2017

The price is consolidating above the 55 Moving Average. Therefore, the market is likely going to reach the nearest resistance at 1.1204 - 1.1232 in the short term. If a pullback from this area happens, there'll be an opportunity to have a decline towards the 89 Moving Average.

Bulls faced resistance at 1.1212, so the price is consolidating. Also, we've got a "Pennant" pattern, so the pair is likely going to achieve resistance at 1.1227 during the day. However, if we see a pullback from this level, bears will probably try to test support at 1.1165 - 1.1137.

More:
https://fbs.com/analytics/articles/eur_usd:_bullish_"pennant"_1810

 

[riki143]

GBP/USD: RESISTANCE WAITING FOR BULLS
10:46 26.06.2017

The price found resistance at 1.2757, but bulls are likely going to reach the next resistance at 1.2817 in the short term. Meanwhile, if a pullback from this level arrives afterwards, there'll be an option to have a local decline in the direction of the closest support at 1.2678 - 1.2634.

We've got a consolidation, which is taking place under resistance at 1.2757. In this case, the market is likely going to test the nearest resistance at 1.2793 in the coming hours. If we see a pullback from this level, bears will have a green light to achieve support at 1.2690 - 1.2643.

More:
https://fbs.com/analytics/articles/gbp_usd:_resistance_waiting_for_bulls_1811

 

[riki143]

EUR/USD: BEARISH "HIGH WAVE" AND "ENGULFING"
14:55 26.06.2017

The price tested the nearest resistance once again, so we've got a bearish "Tweezers" on this level. Considering a confirmation of this pattern, bears are likely 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 another upward price movement.

There're bearish patterns, such a "High Wave" and an "Engulfing", which both have been confirmed. Therefore, the market is likely going to test the nearest support level, but bulls will probably try to achieve the Moving Averages afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_bearish_"high_wave"_and_"engulfing"_1815

 

[riki143]

USD/JPY: "WINDOW" ACTED AS SUPPORT FOR THE SECOND TIME
14:58 26.06.2017

The 21 Moving Average has acted as support, so we've got a "Tweezers" and a "Hammer", which all have been confirmed. In this case, the pair is likely going to test the nearest resistance level. If any bearish pattern arrives later on, there'll be an option to have a bearish correction.

The lower "Window" has acted as support for the second time. Also, there isn't any bearish pattern so far, which means the pair is likely going to continue moving up.

More:
https://fbs.com/analytics/articles/usd_jpy:_"window"_acted_as_support_for_the_second_time_1816

 

[riki143]

EUR/USD: DEVELOPING WAVE (II)
17:09 26.06.2017

There's developing wave (ii), which is taking place under 4/8 MM Level. Previously, we've got a triangle in wave (iv). If a pullback from 4/8 MM Level happens afterwards, bears are likely going to deliver wave (iii).

As you can see on the one-hour chart, there's a possible flat pattern in wave (ii). Also, we've got a developing diagonal triangle in wave c of (ii). Therefore, if a pullback from 4/8 MM Level happens, there'll be a green light to have another decline and a new local low.

More:
https://fbs.com/analytics/articles/eur_usd:_developing_wave_(ii)_1817

 

[riki143]

AUD/USD: BULLS BREAKING OUT CLOUD’S RESISTANCE
09:20 27.06.2017

Technical levels: support – 0.7580; resistance – 0.7610, 0.7660.

Trade recommendations:

Buy — 0.7580/90; SL — 0.7560; TP1 — 0.7660; TP2 — 0.7690.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; the bulls entered to positive area passing through the Cloud’s resistance.

More:
https://fbs.com/analytics/articles/aud_usd:_bulls_breaking_out_cloud’s_resistance_1829

 

[riki143]

USD/JPY: DOLLAR FEELS GOOD
09:21 27.06.2017

Technical levels: support – 111.50; resistance – 112.00/20.

Trade recommendations:

Buy — 111.55; SL — 111.35; TP1 — 112.00; TP2 — 112.45.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen and Kijun-sen; the prices are supported by Tenkan-sen and Kijun-sen.

More:
https://fbs.com/analytics/articles/usd_jpy:_dollar_feels_good_1830

 

[riki143]

EUR/USD: MARKET GOING TO TEST NEAREST RESISTANCE
10:30 27.06.2017

The price is still consolidating. Therefore, the market is likely going to test the nearest resistance at 1.1232 in the short term. If we see a pullback from this level, there'll be an opportunity to have a decline towards the 89 Moving Average.

Bears faced support on the 34 Moving Average. So, the pair is likely going to reach the next resistance at 1.1219 - 1.1227 during the day. If a pullback from this area happens, we should keep an eye on the closest support at 1.1165 - 1.1137 as an intraday target.

More:
https://fbs.com/analytics/articles/eur_usd:_market_going_to_test_nearest_resistance_1832

 

[riki143]

GBP/USD: MOVING AVERAGES ACTING AS SUPPORT
10:33 27.06.2017

The price found resistance at 1.2757, so bears achieved support at 1.2705. In this case, the market is likely going to reach the next resistance at 1.2793 - 1.2817. If a pullback from this area happens, bears will have a green light to test the closest support at 1.2678 - 1.2634.

There's a consolidation, which is taking place under resistance at 1.2757. The Moving Averages are acting as support. Therefore, the price is likely going to reach the next resistance at 1.2793 in the coming hours. However, if a pullback from this level arrives afterwards, there'll be an option to have a decline in the direction of support at 1.2690 - 1.2672.

More:
https://fbs.com/analytics/articles/gbp_usd:_moving_averages_acting_as_support_1833

 

[riki143]

EUR/USD: "WINDOW" GOING TO ACT AS RESISTANCE
13:24 27.06.2017

The price has been rising since a pullback from the nearest Moving Average happened. Also, there isn't any bearish pattern so far. Therefore, the market is likely going to continue rising towards the upper "Window".

The Moving Averages have acted as support, so the price is rising. All the last candles are bullish. However, if a pullback from the closest resistance happens, there'll be an opportunity to have a local bearish correction.

More:
https://fbs.com/analytics/articles/eur_usd:_"window"_going_to_act_as_resistance_1836

 

[riki143]

USD/JPY: BEARISH "ENGULFING"
13:26 27.06.2017

We've got a bearish "Engulfing", which has been confirmed enough. Therefore, the pair is likely going to test the 55 Moving Average, which could be a departure point for another bullish rally.

The 34 Moving Average has acted as support, so we've got a bullish "Hammer" on this line. If this pattern confirms, the price is likely going to test the nearest resistance. Nevertheless, bears will probably try to test the 55 MM afterwards.

More:
https://fbs.com/analytics/articles/usd_jpy:_bearish_"engulfing"_1837

 

[riki143]

EUR/USD: TRIANGLE IN WAVE
14:05 27.06.2017

There's a possible triangle in wave , so the price is likely going to continue rising towards the upper side of this pattern. If a pullback from this line happens, there'll be an opportunity to have the beginning of wave [C].

As we can see on the daily chart, there's a developing impulse in wave C of (E). The main bullish target is +1/8 MM Level, which could be a departure point for an impulse wave. The main bearish target is 6/8 MM Level.

More:
https://fbs.com/analytics/articles/eur_usd:_triangle_in_wave_[b]_1838

 

[riki143]

GBP/USD COULD LOSE STEAM AROUND 1.2860, RESUMING BEARISH BIAS
00:55 28.06.2017

GBP/USD found a demand area between 1.2705 and 1.2636, which coincides with the Fibonacci expansion levels of 100% and 123.6%. There was a divergence formed bwteen the latest two lower swings and it seems that we can witness some recovery in coming hours. However, we should keep in mind that resistance zone of 1.2860 could act as a strong barrier for buyers, given that 200 SMA (H1 chart) is another dynamic hurdle to pay attention.

RSI indicator is supporting the bullish scenario for the Cable, but it’s entering now at the overbought territory, so be cautious of ongoing longs in the pair.

More:
https://fbs.com/analytics/articles/...eam_around_1.2860,_resuming_bearish_bias_1846

 

[riki143]

GBP/USD: BULLS MADE NEW LOCAL HIGHS
09:24 28.06.2017

Technical levels: support – 1.2780; resistance – 1.2840.

Trade recommendations:

Buy — 1.2780; SL — 1.2760; TP1 — 1.2840; TP2 — 1.2870.
Reason: narrow bearish Ichimoku Cloud; rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but horizontal Tenkan-sen and Kijun-sen; the market is breaking out through the SSB’s resistance and made a new H4-highs.

More:
https://fbs.com/analytics/articles/gbp_usd:_bulls_made_new_local_highs_1848

 

[riki143]

AUD/USD: AUSSIE SUPPORTED BY KIJUN-SEN
09:25 28.06.2017

Technical levels: support – 0.7580/90; resistance – 0.7660.

Trade recommendations:

Buy — 0.7600; SL — 0.7580; TP1 — 0.7660; TP2 — 0.7690.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the bulls trying to breakout a strong resistance on 0.7610/30.

More:
https://fbs.com/analytics/articles/aud_usd:_aussie_supported_by_kijun_sen_1849

 

[riki143]

EUR/USD: LOCAL BEARISH "THORN" PATTERN
11:13 28.06.2017

The last consolidation resulted in a massive bullish rally. Finally, the price faced resistance at 1.1365, so bears are likely going to test the nearest support at 1.1325 during the day. If a pullback from this level happens, there'll be an opportunity to have another upward price movement towards the next resistance at 1.1398.

Bulls faced resistance at 1.1365, so we've got a "Thorn" pattern. In this case, the market is likely going to achieve the closest support at 1.1340 - 1.1325 during the day. However, if we see a pullback from this area, bulls will probably try to reach resistance at 1.1365 - 1.1398.

More:
https://fbs.com/analytics/articles/eur_usd:_local_bearish_"thorn"_pattern_1852

 

[riki143]

GBP/USD: CONFIRMED "DOUBLE TOP"
11:16 28.06.2017

We've got a "Thorn" pattern, which pushed the price to support at 1.2793. Meanwhile, the pair is likely going to test the next support at 1.2757. If a pullback from this level happens, there'll be an option to have an upward price movement in the direction of the local downtrend.

There's a "Double Top" pattern, which has been confirmed. Therefore, the pair is likely going to test the nearest support at 1.2757 during the day. At the same time, if we see a pullback from this level, bulls will have a green light to achieve the next resistance at 1.2860 - 1.2871.

More:
https://fbs.com/analytics/articles/gbp_usd:_confirmed_"double_top"_1853