Market analysis and trade recommendations by FBS

[riki143]

EUR/USD RISING INSIDE MINOR (B)-WAVE
19:57 11.08.2017

EUR/USD rising inside minor (b)-wave
Next buy target - 85.70
EUR/USD continues to rise inside the minor (b)-wave which started earlier – when the pair reversed up from the combined support zone lying between the support level 1.1700 and the 38.2% Fibonacci correction of the previous sharp upward impulse from the start of July. EUR/USD is expected to rise further to next buy target at the next resistance level 85.70 (high of the impulse wave (i) and the target price calculated for the completion of the active wave (b)).

More:
https://fbs.com/analytics/articles/eur_usd_rising_inside_minor_(b)_wave_2922

 

[riki143]

EUR/GBP REACHED BUY TARGET 0.9100
19:59 11.08.2017

EUR/GBP reached buy target 0.9100
Next buy target - 0.9200
EUR/GBP continues to rise inside the minor impulse wave (iii), which earlier reversed up from the round support level 0.9000 (former strong resistance level which stopped the previous minor impulse wave (i) in the middle of July, as can be seen from the daily EUR/GBP chart below). The price today reached the resistance level 0.9100 (which was set as the buy target in our previous forecast for this pair). EUR/GBP is expected rise to next buy target at the next resistance level 0.9200.

More:
https://fbs.com/analytics/articles/eur_gbp_reached_buy_target_0.9100_2923

 

[riki143]

GOLD (XAU/USD): $1300 AS THE NEXT TARGET?
03:31 14.08.2017

The precious metal has been strong across the Forex market and it’s consolidating gains well above the $1290 level. So far, according to the H1 chart, a bullish crossover is happening with the 50 and 200 SMA, which reinforces the bullish idea in the gold. However, because of the solid rise, we can expect a decline to correct the overall structure towards the 50% Fibonacci retracement level at $1271.82.

Above that area, if XAU/USD holds that level and rebounds, we can expect a rally to test the -23.6% Fibonacci level at $1301.87 in a first degree. RSI indicator is overbought and calling for another leg lower, before to resume the bullish bias.

More:
https://fbs.com/analytics/articles/gold_(xau_usd):_$1300_as_the_next_target__2928

 

[riki143]

EUR/USD: BULLS RETURNED TO POSITIVE AREA
09:36 14.08.2017

Technical levels: support – 1.1780; resistance – 1.1820.

Trade recommendations:

Buy — 1.1830; SL — 1.1810; TP1 — 1.1900; TP2 – 1.1930.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span B; a new golden cross of Tenkan-sen and Kijun-sen, but horizontal Tenkan-sen and Kijun-sen; the market returned into the positive area and will supported by the Cloud.

More:
https://fbs.com/analytics/articles/eur_usd:_bulls_returned_to_positive_area_2933

 

[riki143]

AUD/USD: AUSSIE TRIED TO BREAKOUT SSA’S RESISTANCE
09:37 14.08.2017

Technical levels: support – 0.7880; resistance – 0.7930.

Trade recommendations:

Buy — 0.7890; SL — 0.7870; TP1 — 0.7930; TP3 — 0.7990.
Reason: irregular bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of the lines; the prices are on the support of Tenkan-sen and Kijun-sen.

More:
https://fbs.com/analytics/articles/aud_usd:_aussie_tried_to_breakout_ssa’s_resistance_2934

 

[riki143]

USD/JPY: YEN WANTS TO COME BACK
10:48 14.08.2017

On the daily chart, USD/JPY bulls are trying to return the pair inside the triangle. If they manage to do it, successful test of resistance at 110.52 will strengthen the risks of correction towards the upper border of the downtrend channel. On the other hand, if bulls fail, bears will be able to keep pulling the pair down to 108 and then 104 (161.8% target of AB=CD).

On H1, the pair left the descending trend channel and is now testing resistance at 109.62. A successful test will strengthen the odds of 88.6% target of “Shark” pattern.

More:
https://fbs.com/analytics/articles/usd_jpy:_yen_wants_to_come_back_2938

 

[riki143]

NZD/USD IS PREPARING TO TAKE OFF
11:03 14.08.2017

Recommendation:

BUY 0.7335

SL 0.7280

TP1 0.7445 TP2 0.7525

On the daily chart, NZD/USD keeps forming the inverted 5-0 pattern. The recoil of support at 0.7278 (38.2% of the wave CD) allowed traders to form longs in hope for a resumption of the uptrend. The necessary condition for this scenario is the return of the prices inside the borders of the short-term uptrend channel.

On H1, NZD/USD is forming a “Dragon” pattern. The break of resistance at 0.7334-0.7337 (61.8% of the last bullish wave + the upper border of the descending trend channel + dragon’s head) will increase the odds of the bearish trend.

More:
https://fbs.com/analytics/articles/nzd_usd_is_preparing_to_take_off_2940

 

[riki143]

EUR/USD: "TRIPLE TOP" PATTERN
12:14 14.08.2017

The upper side of the last "Wedge" pattern has been broken, so the price is rising. The main intraday target is the nearest resistance at 1.1875 - 1.1909. If a pullback from this area happens afterwards, there'll be an opportunity to have a decline.

All Moving Averages have been broken, but there's a "Triple Top" pattern, so the price is likely going to reach the closest support at 1.1801 - 1.1784. However, if we see a pullback from this area, bulls will probably try to reach the next resistance at 1.1845 - 1.1875.

More:
https://fbs.com/analytics/articles/eur_usd:_"triple_top"_pattern_2943

 

[riki143]

GBP/USD: 55 MA ACTING AS RESISTANCE
12:17 14.08.2017

The price is consolidating between the levels 1.3032 - 1.3047. Also, we've got a "Triangle", but the 89 Moving Average is acting as support. Anyway, bulls are likely going to test the nearest resistance at 1.3058 - 1.3081. If a pullback from these level arrives later on, we could have a decline towards support at 1.3013.

There's a "Bear Trap", so we've got a new local high. The 55 Moving Average is acting as resistance, so we should keep an eye on the closest support at 1.2982 as an intraday target. Meanwhile, bulls are likely going to test the next resistance at 1.3058 - 1.3082 soon.

More:
https://fbs.com/analytics/articles/gbp_usd:_55_ma_acting_as_resistance_2944

 

[riki143]

EUR/USD: "HARAMI" AND "ENGULFING"
14:18 14.08.2017

The 55 Moving Average has acted as support, but there's a bearish "Doji" on the last high. So, the price is likely going to test the 34 MA, which could be a departure point for another upward price movement.

There are bearish patterns such a "Harami" and an "Engulfing". So, the 34 & 55 Moving Averages are going to act as support. If we have a pullback from these lines, there'll be an opportunity to see a local upward price movemen

More:
https://fbs.com/analytics/articles/eur_usd:_"harami"_and_"engulfing"_2956

 

[riki143]

USD/JPY: "DOJI" PUSHED PRICE HIGHER
14:19 14.08.2017

The last "Doji" pushed the price higher. However, there isn't any bearish pattern so far, so the pair is likely going to test the next Moving Average. If a pullback from this line happens, we could have just another decline.

We've got a "Doji" and a "Hammer", which both have been confirmed enough. So, bulls are likely going to test the nearest "Window" in the short term. If any bearish pattern arrives little later on, there'll be an opportunity to have a decline.

More:
https://fbs.com/analytics/articles/usd_jpy:_"doji"_pushed_price_higher_2957

 

[riki143]

GBP/USD: BEARS CAN REACH NEW LOWS
08:37 15.08.2017

Technical levels: support – 1.2960, 1.2910; resistance – 1.3040, 1.3100.

Trade recommendations:

Buy — 1.2980; SL — 1.2960; TP1 — 1.3040; TP2 — 1.3100.
Buy — 1.2910; SL — 1.2890; TP1 — 1.3000; TP2 — 1.3040.
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen; the prices on the strong support, but the Bears can breakdown it to 1.2910.

More:
https://fbs.com/analytics/articles/gbp_usd:_bears_can_reach_new_lows_2968

 

[riki143]

USD/JPY: DOLLAR ROSE TO CLOUD
08:38 15.08.2017

Technical levels: support – 109.80; resistance – 110.70.

Trade recommendations:

Sell — 110.70; SL — 110.90; TP1 — 109.80; TP2 — 109.10.
Reason: bearish Ichimoku Cloud with falling Senkou Span B; a cancelled dead cross of Tenkan-sen and Kijun-sen, rising lines; the Cloud will resist the bull’s attack.

More:
https://fbs.com/analytics/articles/usd_jpy:_dollar_rose_to_cloud_2969

 

[riki143]

EUR/USD: BEARS GOING TO TEST NEXT SUPPORT
10:05 15.08.2017

Bulls faced resistance at 1.1846, so there's a "Triple Top", which pushed the price to support at 1.1757. So, the market is likely going to test the nearest support at 1.1712 in the short term. If a pullback from this level happens, bulls will probably try to reach the nearest resistance at 1.1846 - 1.1875.

The last "Pennant" pattern has been broken, so the price found support at 1.1757. Nevertheless, the pair is likely going to test the next support at 1.1727 - 1.1712 during the day. However, there's an opportunity to have an upward correction towards resistance at 1.1801 - 1.1823 afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_bears_going_to_test_next_support_2975

 

[riki143]

GBP/USD: BEARISH "PENNANT"
10:08 15.08.2017

The price is consolidating between the levels 1.3032 - 1.3047. Also, there's a "Flag" pattern, so bears are likely going to achieve the closest support at 1.2926 - 1.2951. If a pullback from this area happens, we should keep an eye on the nearest resistance at 1.3013 - 1.3032 as an intraday bullish target.

The 55 Moving Average has acted as resistance, so we've got a "Triple Top" pattern. At the same time, there's a "Pennant", so the market is likely going to test the next support at 1.2926 - 1.2951 in the coming hours. Considering a possible pullback from these levels, there's an option to have a bullish price movement towards resistance at 1.2997 - 1.3013 little later on.

More:
https://fbs.com/analytics/articles/gbp_usd:_bearish_"pennant"_2976

 

[riki143]

AUD/USD IS GETTING READY FOR A BREAK
11:12 15.08.2017

Recommendations: BUY 0.7918 SL 0.7863 TP 0.8030, SELL 0.7838 SL 0.7893 TP 0.7740

On the daily chart, AUD/USD keeps consolidating in the range between 0.7835 and 0.7915. The break of its upper border will create an opportunity for the bullish trend resumption. On the other hand, successful test of support at 0.7835 will increase the risks of 113% target of the “Shark” pattern.

On H1, AUD/USD formed a “widening wedge”. A successful test of the upper border of the rising channel with the following retest of point 5 will be a signal for long positions. On the other hand, return to point 4 and break below support will allow bears to continue their assault.

More:
https://fbs.com/analytics/articles/aud_usd_is_getting_ready_for_a_break_2980

 

[riki143]

EUR/USD: 55 MA TESTED ONCE AGAIN
14:01 15.08.2017

The 55 Moving Average has been tested once again, but we still don't have any confirmed bullish pattern. So, we could have a new local low soon. If another pullback from the nearest support happens, there'll be an option to have an upward price movement

We've got a bullish "Hammer" at the local low, but confirmation of this pattern isn't enough. So, the price is likely going to test the 34 & 55 Moving Averages, which could be a departure point for another decline.

More:
https://fbs.com/analytics/articles/eur_usd:_55_ma_tested_once_again_2983

 

[riki143]

USD/JPY: BULLISH "THREE METHODS"
14:04 15.08.2017

There isn't any reversal pattern so far, cause all the last candles are bullish. Therefore, the market is likely going to test the 89 Moving Average in the coming hours.

We've got a bullish "Three Methods", which hasn't been confirmed yet. Anyway, bulls are likely going to continue pushing the price even higher until any bearish pattern arrives.

More:
https://fbs.com/analytics/articles/usd_jpy:_bullish_"three_methods"_2984

 

[riki143]

EUR/USD: EURO FELL INTO CLOUD AGAIN
08:44 16.08.2017

Technical levels: support – 1.1700, 1.1640; resistance – 1.1770, 1.1820.

Trade recommendations:

Buy — 1.1640; SL — 1.1620; TP1 — 1.1700; TP2 – 1.1770.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen; the prices returned into the Cloud and will test the support of Senkou Span B.

More:
https://fbs.com/analytics/articles/eur_usd:_euro_fell_into_cloud_again_2996

 

[riki143]

AUD/USD: AUSSIE CONTINUE TO FALLING
08:45 16.08.2017

Technical levels: support – 0.7820; resistance – 0.7890.

Trade recommendations:

Buy — 0.7830; SL — 0.7810; TP1 — 0.7890; TP3 — 0.7940.
Reason: bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen; the prices are on the strong support of 0.7800/20.

More:
https://fbs.com/analytics/articles/aud_usd:_aussie_continue_to_falling_2997