Market analysis and trade recommendations by FBS

[riki143]

GBP/USD: "EXHAUSTION GAP"
11:17 28.08.2017

The 55 Moving Average has acted as resistance, so we've got a "V-Top" pattern on this line. Therefore, bears are likely going to test the nearest support at 1.2853 - 1.2831 in the short term. If a pullback from this area happens, bulls will have a green light to reach the 89 MA.

There's an "Exhaustion Gap", so we've got a "V-Top" pattern, which led to a decline. However, the last high is likely going to be tested during the day. Meanwhile, we should keep an eye on the next support at 1.2853 - 1.2848 as an intraday target.


More:
https://fbs.com/analytics/articles/gbp_usd:_"exhaustion_gap"_3287

 

[riki143]

EUR/USD: TRIANGLE IN WAVE [IV]
13:13 28.08.2017

There's a triangle in wave [iv], so there's a new local high. It seems like wave [v] of 3 is going to be continued. So, if +2/8 MM Level turns out to be broken, we're going to have an updated MM Levels graphing.

Wave [iv] has been ended on 1/8 MM Level, so we've got an upward impulse in wave (i). In this case, we could have wave (ii) in the coming hours. If a pullback from 3/8 MM Level happens littel later on, there'll be an opportunity to have wave (iii) of [v].

More:
https://fbs.com/analytics/articles/eur_usd:_triangle_in_wave_[iv]_3294

 

[riki143]

USD/JPY: "TOWER" PUSHED THE PRICE LOWER
13:41 28.08.2017

The last "Tower" pattern pushed the price lower. It seems like we're going to have a local correction in the short term. Nevertheless, bears are likely going to reach the lower "Window" afterwards.

There's a "High Wave" pattern at the last high. However, bulls are likely going to test the 89 Moving Average. If we have a pullback from this line, there'll be an opportunity to have just another decline.

More:
https://fbs.com/analytics/articles/usd_jpy:_"tower"_pushed_the_price_lower_3298

 

[riki143]

EUR/USD: 34 & 55 MAS ACTED AS SUPPORT
13:44 28.08.2017

The 34 & 55 Moving Averages have acted as support, so we've got bullish patterns such a "Harami" and a "Hammer", which both were confirmed. Also, there's a bearish "High Wave", so we could have a local downward correction. Anyway, bulls are likely going to test the nearest resistance area afterwards.

The last "Shooting Star" led to the current bearish correction. However, we've got a bullish "Harami", so we're likely going to have a new local high soon. Meanwhile, if any reversal pattern arrives later on, there'll be an opportunity to have a downward correction.

More:
https://fbs.com/analytics/articles/eur_usd:_34___55_mas_acted_as_support_3299

 

[riki143]

EUR/USD: EURO REACHED NEW HIGHS
08:46 29.08.2017

Technical levels: support – 1.1930, 1.1880; resistance – 1.2080.

Trade recommendations:

Buy — 1.1930; SL — 1.1910; TP1 — 1.2020; TP2 – 1.2070.
Reason: bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising lines; the prices are on the new highs for last three years.

More:
https://fbs.com/analytics/articles/eur_usd:_euro_reached_new_highs_3312

 

[riki143]

USD/JPY: DOLLAR ON MAIN SUPPORT
08:47 29.08.2017

Technical levels: support – 108.60; resistance – 109.10.

Trade recommendations:

Sell — 109. 10; SL — 109.30; TP1 — 109.00; TP2 — 108.50.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span B; a cancelled golden cross of Tenkan-sen and Kijun-sen and the falling lines; the Bears made a new lows, but the market is on the strong daily’s support.

More:
https://fbs.com/analytics/articles/usd_jpy:_dollar_on_main_support_3313

 

[riki143]

GOLD APPROACHED A MILESTONE
10:38 29.08.2017

Recommendation:

BUY 1295.50

SL 1285

TP2 1325 TP2 1380

On the daily chart, XAU/USD reached 78.6% target of the inverted Gartley pattern and 78.6% of the last long-term descending wave. As a result, the risks of a pullback have increased. On the other hand, if the bulls manage to overcome the resistance at $1321-1325 an ounce, increase towards the target at 200% of the AB=CD pattern will likely continue.

On H1, there’s a “Spike and reversal with acceleration” pattern. XAU/USD is now at the spike stage. To change the trend, bears need to move the prices below $1285.

More:
https://fbs.com/analytics/articles/gold_approached_a_milestone_3315

 

[riki143]

USD/CAD: BEARS WANT MORE
10:50 29.08.2017

Recommendations:

SELL 1.2450 SL 1.2505 TP 1.2300 TP2 1.2050

SELL 1.2595 SL 1.2650 TP1 1.2495 TP2 1.2300

On the daily chart, USD/CAD approached multiyear minimum. If it goes below it, AB=CD with 200% target will be triggered. We can’t doubt in the force of the downtrend, so there’s sense to use the pullbacks for selling.

On H1, to resume the downtrend bears need to go below 1.2450. A signal for selling will be bulls’ inability to overcome 1.2595.

More:
https://fbs.com/analytics/articles/usd_cad:_bears_want_more_3316

 

[riki143]

EUR/USD: BULLS WENT THROUGH RESISTANCE
12:25 29.08.2017

Bulls went through resistance at 1.1975 - 1.2003, but the price faced with another resistance at 1.2042. Anyway, the market is likely going to continue moving up, so we should keep an eye on the next resistance at 1.2080 - 1.2123 as a bullish target. If a pullback from this area happens, there'll be an opportunity to have a bearish correction.

There's resistance at 1.2042, so the market is likely going to test the nearest support at 1.2003. Meanwhile, if a pullback from this level happens, bulls will have a green light to catch another resistance at 1.2042 - 1.2080.

More:
https://fbs.com/analytics/articles/eur_usd:_bulls_went_through_resistance_3324

 

[riki143]

GBP/USD: BULLISH "FLAG"
12:28 29.08.2017

All the Moving Averages have been broken, so bulls faced resistance at 1.2958. Nevertheless, the price is likely going to continue rising, so we should keep an eye on the next resistance at 1.2989 - 1.3021 as the next bullish target.

The last bullish "Flag" has been broken, so the price is rising. However, bulls faced with resistance at 1.2958, so the market is likely going to test the closest support at 1.2943, which could be a departure point for another bullish rally.

More:
https://fbs.com/analytics/articles/gbp_usd:_bullish_"flag"_3325

 

[riki143]

EUR/USD: DEVELOPING BULLISH IMPULSE
13:35 29.08.2017

The price is still rising, cause there's a triangle in wave [iv], so we've got a developing bullish impulse. The main target for wave [v] of 3 is 8/8 MM Level, which could be a departure point for a bearish correction.

As we can see on the one-hour chart, the price is forming an extension in wave (iii) of [v]. 7/8 MM Level is likely going to act as resistance. If so, we could have wave (iv) pretty soon. Nevertheless, bulls are going to deliver wave (v) of [v] afterwards.

More:
https://fbs.com/analytics/articles/eur_usd:_developing_bullish_impulse_3332

 

[riki143]

USD/JPY: BULLISH "HAMMER"
14:46 29.08.2017

The price reached the lower "Window", so we could have any reversal pattern soon. If so, bulls are likely going to test the 21 Moving Average. However, if a pullback from this line happens, we could have the market even lower.

There's a bullish "Hammer", but confirmation of this pattern is quite weak. In this case, the 55 Moving Average is likely going to act as resistance in the coming hours.

More:
https://fbs.com/analytics/articles/usd_jpy:_bullish_"hammer"_3335

 

[riki143]

EUR/USD: BEARISH "ENGULFING"
14:49 29.08.2017

The price is still rising, but we're likely going to have a reversal pattern soon. If so, there'll be an opportunity to have a local downward correction. Nevertheless, bulls are going to deliver a new high afterwards.

We've got a bearish "Engulfing", but this pattern hasn't been confirmed yet. So, the pair is likely going to test the nearest support level, which could be a departure point for another upward price movement.

More:
https://fbs.com/analytics/articles/eur_usd:_bearish_"engulfing"_3336

 

[riki143]

USD/CHF: BULLS CALLED WOLFE FOR HELP
10:10 30.08.2017

Recommendation:
BUY 0.9585
SL 0.953
TP1 0.971 TP2 0.974

On the daily chart, USD/CHF formed a double bottom. The bar with the long lower wick strengthens the odds of the “Dragon” pattern. However, at the beginning bulls need to conquer resistance at 0.9650 (23.6% of the last long-term descending wave) and at 0.9765.

On H1, USD/CHF reached the targets of the “Widening wedge” pattern. The pair’s currently forming “Wolfe waves” pattern. A break of resistance at 0.9585 will be a signal for opening long positions.

More:
https://fbs.com/analytics/articles/usd_chf:_bulls_called_wolfe_for_help_3350

 

[riki143]

GBP/USD: BEARS SET A TRAP
10:18 30.08.2017

Recommendations:

SELL 1.296 SL 1.3015 TP1 1.2845 TP2 1.278

SELL 1.3020 SL 1.3075 TP1 1.2915 TP2 1.2845

On the daily chart, bulls are making jumbo efforts to return the pair inside the long-term bullish channel. Never the less, their inability to overcome resistance at 1.2962 (38.2% of the wave CD of the 5-0 pattern) and formation of pin bar points at buyers’ weakness.

On H1, the “Shark” pattern is transforming into 5-0. The pullbacks to 38.2%, 50% and 61.8% of the wave CD may be used for opening short positions.

More:
https://fbs.com/analytics/articles/gbp_usd:_bears_set_a_trap_3351

 

[riki143]

EUR/USD: "PENNANT" PATTERN
12:28 30.08.2017

There's a "V-Top" pattern, so the price reached the nearest support at 1.1959. However, bears are likely going to test the next support at 1.1909 - 1.1875. If a pullback from this area happens, there'll be an opportunity to have another upward price movement.

The 34 Moving Average has acted as support, but we've got a "Pennant" pattern. Therefore, bears are likely going to test the closest support at 1.1909 - 1.1892 soon. If we have a pullback from these levels, bulls will probably try to achieve resistance at 1.1975 - 1.2003.

More:
https://fbs.com/analytics/articles/eur_usd:_"pennant"_pattern_3357

 

[riki143]

GBP/USD: MARKET GOING TO TEST 34 MA
12:30 30.08.2017

All the Moving Averages have been broken, but there's a "V-Top" pattern, so the market is likely going to test the 34 MA. If a pullback from this line happens little later on, bulls will have a green light to catch the next resistance at 1.2959 - 1.2989.

Bears faced support at 1.2916, so the price is consolidating. Meanwhile, there's a "Flag", so the price is likely going to reach the 89 Moving Average in the short term.

More:
https://fbs.com/analytics/articles/gbp_usd:__market_going_to_test_34_ma_3358

 

[riki143]

EUR/USD: PULLBACK FROM 7/8 MM LEVEL
14:02 30.08.2017

There's a pullback from 7/8 MM Level, so wave [v] of 3 may have been formed. In this case, we could have a bearish impulse in wave [a]. The main intraday target is 5/8 MM Level.

We've got a downward impulse in wave (i), so bears are likely going to deliver wave (iii) during the day. If a pullback from 2/8 MM Level happens little later on, there'll be an opportunity to have an upward correction.

More:
https://fbs.com/analytics/articles/eur_usd:__pullback_from_7_8_mm_level_3360

 

[riki143]

USD/JPY: BEARISH "HARAMI"
14:52 30.08.2017

The 89 Moving Average has acted as resistance, so we've got a "Shooting Star". If this pattern confirms, there'll be an opportunity to have a local decline. Anyway, bulls are likely going to deliver a new high afterwards.

There's a bearish "Harami", which has been confirmed. So, the pair is likely going to reach the 144 Moving Average soon. If any bullish pattern arrives afterwards, we should keep an eye on the upper "Window" as an intraday target

More:
https://fbs.com/analytics/articles/usd_jpy:_bearish_"harami"_3366

 

[riki143]

EUR/USD: "THREE METHODS" PATTERN
14:56 30.08.2017

There's a bearish "Harami", which has been confirmed by the last "Three Methods" pattern. So, the market is likely going to continue moving down in the short term.

We've got a bullish "Harami" on the lower "Window". If this pattern confirms, we could have a local upward correction in the direction of the nearest resistance level.

More:
https://fbs.com/analytics/articles/eur_usd:_"three_methods"_pattern_3368