Market analysis and trade recommendations by FBS

[riki143]

EUR/USD: BULLISH "DOUBLE BOTTOM"
11:58 19.10.2017

There's a bullish "Double Bottom", so the price is consolidating under the 89 Moving Average. The main intraday target is the nearest resistance area at 1.1822 - 1.1875, which could be a departure point for a bearish correction.

The price is consolidating between the levels 1.1819 - 1.1793. If a pullback from the 89 MA happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1848 - 1.1860.

More:
https://fbs.com/analytics/articles/eur-usd-bullish-double-bottom-4505

 

[riki143]

GBP/USD: LOCAL "V-TOP" PATTERN
12:01 19.10.2017

The last "Double Bottom" pushed the price to the nearest resistance at 1.3221. However, there's a local "V-Top", so bears are likely going to test the closest support at 1.3150 in the short term.

We've got a "Double Top", so the market is likely going to test the next support at 1.3169 - 1.3144 during the day. If a pullback from these levels happens, we could have a decline towards the closest resistance at 1.3240 - 1.3256.

More:
https://fbs.com/analytics/articles/gbp-usd-local-v-top-pattern-4506

 

[riki143]

EUR/USD: WAVE (II) FINISHED ON 2/8 MM LEVEL
12:04 19.10.2017

The price fixated above 1/8 MM Level, so wave [ii] may have been formed. Therefore, we're likely going to have another upward impulse in wave [iii]. The main intraday target is 6/8 MM Level.

1/8 MM Level has acted as support twice, so the price is rising. Wave (ii) was finished on 2/8 MM Level just a few hours ago. So, bulls are likely going to test 7/8 MM level in the coming hours.

More:
https://fbs.com/analytics/articles/eur-usd--wave-ii-finished-on-2-8-mm-level-4507

 

[riki143]

USD/JPY: "THREE METHODS" PATTERN
12:07 19.10.2017

We've got a bearish "Doji", so the price is declining. The main intraday target is 55 Moving Average. If a pullback from this line happens, we could have just another bullish price movement.

There's a "Three Methods" pattern, but also the 55 MA acted as support, so we could have a local upward correction in the short term. If any bearish pattern arrives little later on, we should keep an eye on the lower "Window" as an intraday target.

More:
https://fbs.com/analytics/articles/usd-jpy-three-methods-pattern-4508

 

[riki143]

EUR/USD: BULLISH "ENGULFING"
12:10 19.10.2017

There's a bullish "Engulfing", which has been confirmed. At the same time, we've got a "Three Methods" pattern, so the market is likely going to continue moving up towards the next resistance area.

The last "Three Methods" pattern pushed the price higher, so the price fixated above the "Window". We could have just a local bearish correction in the short term. Nevertheless, bulls will probably try to deliver new highs soon.

More:
https://fbs.com/analytics/articles/eur-usd-bullish-engulfing-4509

 

[riki143]

EUR/USD: BULLS SHOWED WEAKNESS
08:03 20.10.2017

Recommendation:

SELL 1.1750 SL 1.1805 TP 1.1615

BUY 1.1860 SL 1.1805 TP 1.1950

On the daily chart, EUR/USD keeps forming 5-0. Pullbacks to 50% and 38.2% of the wave CD are usually used for selling. The inability of bulls to lead the pair outside of the downtrend channel points at their weakness.

On H1, a break below diagonal support at 1.1750 will open the way down to 127.2% of the ideal butterfly pattern. On the other hand, successful test of the local high at 1.1860 will mean the continuation of the “widening wedge”.

More:
https://fbs.com/analytics/articles/eur-usd-bulls-showed-weakness-4524

 

[riki143]

EUR/GBP: EURO IS WORKING WITH A DRAGON
08:46 20.10.2017

Recommendation:

BUY 0.896

SL 0.8905

TP1 0.9085 TP2 0.9145

On the daily chart, EUR/GBP recoil from the upper border of the downtrend allowed bulls to counterattack and form the reversal patter 5-0. Its 88.6% target is reached, and the level of 113% is near. The euro will likely continue its way up towards 161.8% target of AB=CD.

On H1, EUR/GBP formed a “Dragon” pattern. Pullbacks towards 0.8982-0.8985 and 0.8958-0.8965 will signify formation of the dragon’s head and will be a signal for buying.

More:
https://fbs.com/analytics/articles/eur-gbp-euro-is-working-with-a-dragon-4527

 

[riki143]

EUR/USD: "V-TOP" PATTERN
13:54 20.10.2017

There's a "V-Top" pattern, so the price reached the Moving Averages. It's likely that the market is going to reach the nearest support area at 1.1772 - 1.1757 in the short term. If a pullback from these levels happens little later on, we could have another upward price movement.

We've got a "Triple Top", so the price is consolidating. The main intraday target is the closest resistance at 1.1819 - 1.1831. If a pullback from these levels happens, we could have a decline in the direction of the next support at 1.1780 - 1.1767.

More:
https://fbs.com/analytics/articles/eur-usd-v-top-pattern-4531

 

[riki143]

GBP/USD: BEARS GOING TO TEST NEAREST SUPPORT
13:57 20.10.2017

The price is consolidating between the levels 1.3221 - 1.3150. It's likely that bears are going to achieve the nearest support at 1.3081 in the short term. If we see a pullback from this level, there'll be an opportunity to have a bullish price movement towards another resistance at 1.3081 - 1.3120.

Bears faced with support at 1.3077, so there's a "Thorn" pattern. In this case, the pair is likely going to test the closest resistance at 1.3120 - 1.3150 during the day. Meanwhile, if a pullback from this area arrives afterwards, we could have just another decline.

More:
https://fbs.com/analytics/articles/gbp-usd-bears-going-to-test-nearest-support-4533

 

[riki143]

EUR/USD: BEARISH "THREE METHODS" PATTERN
14:00 20.10.2017

There are bearish patterns such a "Tweezers" and a "Doji", which both have been confirmed enough. The 21 & 34 Moving Averages are acting as support. Nevertheless, the market is likely going to continue moving down in the short term.

We've got a bearish "Three Methods" pattern, but the price faced support on the Moving Averages. Therefore, we could have just a local upward correction and another decline afterwards.

More:
https://fbs.com/analytics/articles/eur-usd-bearish-three-methods-pattern-4535

 

[riki143]

USD/JPY: "SHOOTING STAR" PATTERN
14:02 20.10.2017

There's a "High Wave" pattern, which has been formed at the local high. So, there's an opportunity to have a downward correcting in the coming hours. However, if we see a pullback from the nearest support level, bulls will probably try to deliver a new local high.

We've got a "Shooting Star" pattern, which has been confirmed. Therefore, the pair is likely going to test the lower "Window" during the day. If a pullback from this level happens, there'll be an option to have another bullish price movement.

More:
https://fbs.com/analytics/articles/usd-jpy-shooting-star-pattern-4536

 

[riki143]

EUR/USD: WAVE [III] STARTED
14:05 20.10.2017

It seems like wave [iii] has been started, so we could have another bullish impulse in the short term. The main intraday target is 6/8 MM Level.

The price couldn't fixate above 4/8 MM Level, so wave (i) has been ended. If a pullback from 2/8 MM Level happens little later on, there'll be time for wave (iii) of [iii].

More:
https://fbs.com/analytics/articles/eur-usd-wave-iii-started-4538

 

[riki143]

EUR/USD: DOUBLE ZIGZAG IN WAVE [II]
06:16 23.10.2017

The price is likely going to test 0/8 MM Level in the coming hours. If we have a pullback from this level, wave [ii] likely will be ended. In this case, there'll be an opportunity to have another upward impulse in wave [iii].

It seems like wave [ii] is taking the form of a double zigzag on the one-hour chart. So, bears are likely going to test 0/8 MM Level, which could be a departure point for wave (i). In this case, the low of wave (w) will be broken in the coming hours.

More:
https://fbs.com/analytics/articles/eur-usd-double-zigzag-in-wave-ii-4559

 

[riki143]

AUD/USD: AUSSIE ENTERED INTO NEGATIVE AREA
06:18 23.10.2017

Technical levels: support – 0.7770; resistance – 0.7840

Trade recommendations:

Sell — 0.7840; SL — 0.7860; TP1 — 0.7770; TP2 — 0.7730.
Reason: narrow bearish Ichimoku Cloud, falling Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen and Kijun-sen; the prices are in the negative area under the pressure of a Cloud.

More:
https://fbs.com/analytics/articles/aud-usd-aussie-entered-into-negative-area-4560

 

[riki143]

USD/JPY: DOLLAR REACHED 114.00
06:19 23.10.2017

Technical levels: support – 113.40; resistance – 114.00.

Trade recommendations:

Buy — 113.40; SL — 113.20; TP1 — 114.00; TP2 — 114.40.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising Kijun-sen; the prices are tested the resistance of 114.00 and may going higher.

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-reached-11400-4561

 

[riki143]

NZD/USD: WILL KIWI CATCH THE WAVE
07:11 23.10.2017

Recommendation:

BUY 0.709

SL 0.7035

TP 0.7235

On the daily chart, bears managed to lead the pair to the lower border of the long-term uptrend. A successful test of diagonal support will increase the possibility of a break in an uptrend and formation of the “Crab” pattern.

On H1, the return of the pair to the top of the previous short-term consolidation will create grounds for the reversal “Wolfe waves” pattern.

More:
https://fbs.com/analytics/articles/nzd-usd-will-kiwi-catch-the-wave-4564

 

[riki143]

AUD/USD: BEARS STOPPED SLEEPING
07:22 23.10.2017

Recommendation:

SELL 0.78 SL 0.7855 TP1 0.769 TP2 0.76

BUY 0.7885 SL 0.7835 TP 0.8

On the daily chart, AUD/USD keeps trading within “Shark” and “Crab” patterns. After a pullback to 38.2% of the last descending wave, bears try to restore the downtrend. In order to do this, they need to settle above 0.7816. On the other hand, the return of the pair to the short-term downtrend channel will return the initiative to bulls.

On H1, a break of diagonal support in form of the lower border of the uptrend channel will strengthen the odds of the pair’s reaching the interim targets at 88.6% and 127.2% of the “Crab” pattern.

More:
https://fbs.com/analytics/articles/aud-usd-bears-stopped-sleeping-4565

 

[riki143]

EUR/USD: "V-TOP" PATTERN LED TO DECLINE
11:49 23.10.2017

There's a "V-Top" pattern, so the price reached the nearest support at 1.1757. Moreover, the market is likely going to continue moving down, so we should keep an eye on the next support at 1.1729 - 1.1719 as an intraday bearish target. If a pullback from this area happens little later on, there'll be an opportunity to have an upward correction towards the closest resistance at 1.1793 - 1.1822.

All the Moving Averages have been broken, so the price is declining. The main bearish target is the next support at 1.1729 - 1.1719. This area could be a departure point for a bullish price movement in the direction of the nearest resistance at 1.1767 - 1.1780.

More:
https://fbs.com/analytics/articles/eur-usd-v-top-pattern-led-to-decline-4569

 

[riki143]

GBP/USD: PRICE REACHED DOWNWARD CHANNEL
11:53 23.10.2017

We've got a "V-Bottom", so the price is rising. The main intraday target is the nearest resistance area at 1.3227 - 1.3258. If a pullback from this area happens, we could have a decline towards the closest support at 1.3150 - 1.3120.

The last bullish "Pennant" has been broken, but the price reached the local downward channel. So, we could have an intraday correction towards the Moving Averages, which could be a departure point for another bullish rally.

More:
https://fbs.com/analytics/articles/gbp-usd-price-reached-downward-channel-4570

 

[riki143]

EUR/USD: "TWEEZERS" AND "DOJI" PATTERNS
12:01 23.10.2017

The last bearish "Tweezers" and "Doji" patterns led to the current decline. Also, the price fixated under the Moving Averages. There's no any reversal pattern so far, so the market is likely going to continue falling down.

We've got bullish patterns such a "Tweezers" and a "Harami" at the last low, but they both remain unconfirmed. So, we could have just a local upward correction and another decline afterwards.

More:
https://fbs.com/analytics/articles/eur-usd-tweezers-and-doji-patterns-4571