Market analysis and trade recommendations by FBS

[riki143]

USD/JPY: "WINDOW" REMAINS OPEN
12:04 23.10.2017

There's a bearish "High Wave", which hasn't been confirmed yet. Also, we've got a new "Window". In this case, the market is likely going to continue moving up in the short term towards the nearest resistance level.

We've got a bearish "Engulfing" pattern, but the "Window" remains open. Therefore, the last high is likely going to be broken in the coming hours.

More:
https://fbs.com/analytics/articles/usd-jpy-window-remains-open-4572

 

[riki143]

EUR/USD: EURO TESTED TENKAN’S RESISTANCE
05:43 24.10.2017

Technical levels: support – 1.1730; resistance – 1.1770.

Trade recommendations:

Sell — 1.1750; SL — 1.1870; TP1 — 1.1700; TP2 – 1.1680
Reason: narrow bullish Ichimoku Cloud, but horizontal Senkou Span B; a new dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the prices are returned to Tenkan’s resistance and may continue the downtrend.

More:
https://fbs.com/analytics/articles/eur-usd-euro-tested-tenkan’s-resistance-4588

 

[riki143]

GBP/USD: POUND REACHED SENKOU SPAN A
05:44 24.10.2017

Technical levels: support – 1.3150; resistance – 1.3240.

Trade recommendations:

Sell — 1.3200; SL — 1.3220; TP1 — 1.3130; TP2 — 1.3100.
Reason: bearish Ichimoku Cloud, but rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; the prices are growing up to Senkou Span A, but there is a strong resistance.

More:
https://fbs.com/analytics/articles/gbp-usd-pound-reached-senkou-span-a-4589

 

[riki143]

EUR/USD: "V-BOTTOM" PATTERN
07:16 24.10.2017

There's a "V-Bottom" pattern, which pushed the price to the nearest resistance at 1.1772. Meanwhile, the market is likely going to continue moving up towards the next resistance at 1.1822 - 1.1857. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the closest support at 1.1719 - 1.1695.

Bears faced with support at 1.1729, so there's a "Thorn" pattern. The main intraday target is the next resistance at 1.1810 - 1.1820. At the same time, bears are likely going to deliver a local downward correction in the coming hours.

More:
https://fbs.com/analytics/articles/eur-usd-v-bottom-pattern-4592

 

[riki143]

GBP/USD: MOVING AVERAGES ACTED AS RESISTANCE
07:19 24.10.2017

The Moving Averages have acted as resistance, so the price is consolidating. Nevertheless, the market is likely going to reach another resistance at 1.3290 - 1.3336 in the short term. If a pullback from this area happens, we could have a decline.

The last "Double Bottom" pattern led to the current bullish price movement. However, bulls faced with resistance at 1.3221, so we could have a local bearish correction towards the nearest support at 1.3182 - 1.3169. This area could be a departure point for another upward price movement.

More:
https://fbs.com/analytics/articles/gbp-usd-moving-averages-acted-as-resistance-4593

 

[riki143]

XAU/USD: BEARS ARE FIRM
07:47 24.10.2017

Recommendation:

SELL $1271 SL $1286 TP1 $1237 TP2 $1212

On the daily chart, bulls are clinging to an important level of $1281 an ounce. Their failure will return the initiative to bears and increase the risks of decline to 78.6% and 200% targets of “Gartley” and AB=CD patterns.

On H1, XAU/USD keeps forming an inverted 5-0 pattern. Pullbacks to 50%, 38.2% and 23.6% of the wave CD are usually used for buying. A decline below support levels at $1271 and $1267 an ounce may be a signal for forming short positions.

More:
https://fbs.com/analytics/articles/xau-usd-bears-are-firm-4595

 

[riki143]

USD/CAD: BULLS TOOK A PAUSE
07:54 24.10.2017

Recommendation:

BUY 1.2595

SL 1.2540

TP1 1.2790 TP2 1.3240

On the daily chart, bulls manage to stay above support at 1.2460 and renew October low. As a result, the odds of the pair reaching 88.6% target of the inverted “Shark” pattern increased. It’s situated near 1.3240.

On H1, USD/CAD broke above the upper border of the 1.2440-1.2555 consolidation range. This allowed bulls to form long positions. To continue the rally towards 224% target of AB=CD pattern, bulls need to keep the pair outside of the triangle.

More:
https://fbs.com/analytics/articles/usd-cad-bulls-took-a-pause-4596

 

[riki143]

EUR/USD: BULLISH "HARAMI"
13:13 24.10.2017

There are bullish patterns such a "Hammer" and an "Inverted Hammer", which both have been confirmed enough. So, the 55 Moving Average is likely going to act as resistance soon. If a pullback from this line happens, we could have another decline.

The last bullish "Harami" led to the current upward correction. Meanwhile, if a pullback from the 34 Moving Average happens little later on, there'll be an opportunity to have a local bearish correction towards the nearest "Window".

More:
https://fbs.com/analytics/articles/eur-usd-bullish-harami-4601

 

[riki143]

USD/JPY: NO ANY BEARISH PATTERN SO FAR
13:15 24.10.2017

We've got a bullish "Hammer", which has been formed at the local low. Considering confirmation of this pattern, the market is likely going to reach the nearest resistance level. In this case, the last local high could be broken soon.

There's a bullish "Tweezers", which has been formed at the local low. Also, there's no any bearish pattern so far. So, the pair is likely going to continue moving up during the day.

More:
https://fbs.com/analytics/articles/usd-jpy-no-any-bearish-pattern-so-far-4602

 

[riki143]

EUR/USD: EURO READY TO GOING LOWER
05:39 25.10.2017

Technical levels: support – 1.1730; resistance – 1.1770.

Trade recommendations:

Sell — 1.1750; SL — 1.1870; TP1 — 1.1700; TP2 – 1.1680
Reason: narrow bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a strong dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the prices are tested the Cloud’s resistance and ready to continue a downtrend.

More:
https://fbs.com/analytics/articles/eur-usd-euro-ready-to-going-lower-4614

 

[riki143]

GBP/USD: POUND RETURNED TO MINIMUMS OF LAST WEEK
05:40 25.10.2017

Technical levels: support – 1.3100; resistance – 1.3150.

Trade recommendations:

Sell — 1.3150; SL — 1.3170; TP1 — 1.3100; TP2 — 1.3075.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a weak golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are in negative area, below the Kijun-sen.

More:
https://fbs.com/analytics/articles/gbp-usd-pound-returned-to-minimums-of-last-week-4615

 

[riki143]

USD/CHF: BULLS BROKE FREE
06:33 25.10.2017

Recommendation:

BUY 0.9880

SL 0.9825

TP1 0.998 TP2 1.004

On the daily chart, USD/CHF completely formed the “Dragon” pattern. After it renewed the “Dragon's head” and quitted the descending trade channel, we are certain that bulls have the initiative. They unfolded the long-term trend and are ready to continue the rally at least until 224% target of AB=CD.

On H1, USD/CHF is forming «Spike and reversal with acceleration”. As long as it’s staying above 0.9770-0.9800, bulls will remain control.

More:
https://fbs.com/analytics/articles/usd-chf-bulls-broke-free-4617

 

[riki143]

GBP/USD: BEARS WANT TO CONTINUE THE FEAST
06:45 25.10.2017

Recommendation:

SELL 1.3100

SL 1.3155

TP1 1.3 TP2 1.271

On the daily chart, inability of bulls to keep GBP/USD above 1.3175 points at their weakness. Bears are regaining the initiative and are ready to attack the lower border of the uptrend channel and trigger AB=CD pattern with the target at 200%.

On H1, the formation of the “Widening wedge” will allow expecting the pair to reach 113% target of a “Shark” pattern. To do this bears need a successful test of support levels at 78.6% and 88.6% of the wave 4-5.

More:
https://fbs.com/analytics/articles/gbp-usd-bears-want-to-continue-the-feast-4618

 

[riki143]

EUR/USD: "THORN" PATTERN
08:02 25.10.2017

There's a "Thorn" pattern, so the price is consolidating. The main intraday target is the nearest support at 1.1729 - 1.1719. If we have a pullback from this area, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.1793 - 1.1822.

Bears faced with support at 1.1757, but there's also resistance by the 34 Moving Average. If a pullback from this line happens, the market is likely going to test the next support at 1.1724 - 1.1719. This area could be a departure point for another bullish price movement towards a resistance at 1.1780 - 1.1793.

More:
https://fbs.com/analytics/articles/eur-usd-thorn-pattern-4621

 

[riki143]

GBP/USD: BEARISH "PENNANT"
08:05 25.10.2017

The Moving Averages have acted as resistance, so there's a "Double Top" pattern, which led to the current consolidation. It's likely that the pair is going to achieve the closest support at 1.3081 - 1.3026 during the day. If a pullback from these levels happens little later on, we could have a bullish price movement towards the next resistance at 1.3227 - 1.3258.

There's a bearish "Pennant", so the price is likely going to reach the nearest support at 1.3080 - 1.3073 during the day. If we have a pullback from this area, we should keep an eye on the next resistance at 1.3150 - 1.3169 as an intraday target.

More:
https://fbs.com/analytics/articles/gbp-usd-bearish-pennant-4622

 

[riki143]

EUR/USD: 21 & 34 MA ACTING AS RESISTANCE
12:22 25.10.2017

The 21 & 34 Moving Averages are acting as resistance, but there's still no any reversal pattern so far. If a pullback from these lines happens little later on, there'll be an opportunity to have another decline.

Bulls have reached the 89 Moving Average, so the pair is consolidating. If the 34 MA acts as support, we could have a local upward price movement. The main intraday target is the upper "Window".

More:
https://fbs.com/analytics/articles/eur-usd-21---34-ma-acting-as-resistance-4634

 

[riki143]

USD/JPY: BULLISH "THREE METHODS" PATTERN
12:25 25.10.2017

There's a bullish "Three Methods" pattern, which has been confirmed enough. So, the market is likely going to continue moving up in the short term. If any bearish pattern forms afterwards, there'll be an option to have a decline in the direction of the nearest support.

The lower "Window" has acted as support, but there's a bearish "Harami", which has been formed at the last local high. In this case, bears are likely going to test the closest support level, which could be a departure point for another upward price movement.

More:
https://fbs.com/analytics/articles/usd-jpy-bullish-three-methods-pattern-4635

 

[riki143]

EUR/USD: POSSIBLE DOUBLE ZIGZAG IN WAVE [II]
12:41 25.10.2017

Wave [ii] might have been ended, so there's an opportunity to have another upward impulse wave. Previously, an upward impulse in wave was formed. The main target for wave [iii] is 6/8 MM Level.

As we can see on the one-hour chart, there's a possible double zigzag in wave [ii]. 1/8 MM Level acted as support, so bulls are likely going to deliver an extension in wave (iii) of [iii].

More:
https://fbs.com/analytics/articles/eur-usd-possible-double-zigzag-in-wave-ii-4636

 

[riki143]

EUR/JPY IS GOING NORTH
07:12 26.10.2017

Recommendation:

BUY 133.25 SL 132.7

TP1 134.25 TP2 136

BUY 134.5 SL 133.95 TP 136

On the daily chart, EUR/JPY keeps trading within an uptrend and junior and senior AB=CD. Their 161.8% and 224% targets are near 136. The recent resistance at 133.50 acts as support.

On H1, EUR/JPY formed the “Widening wedge” pattern. A break of the lower border of an uptrend channel and triggering of the “Shark” pattern will increase the risks of correction towards 133.25. On the other hand, renewal of October low will allow bulls to keep pushing the pair higher.

More:
https://fbs.com/analytics/articles/eur-jpy-is-going-north-4652

 

[riki143]

USD/JPY: SHARKS ARE CHASING THE YEN
07:19 26.10.2017

Recommendation:

BUY 112.5 SL 111.95 TP1 113.5 TP2 114.3 TP3 115.3

BUY 114.25 SL 113.7 TP1 115.3

On the daily chart, USD/JPY reached 88.6% target of the «Shark” pattern. As a result, the risks of correction towards 23.6%, 38.2% and 50% of the wave CD in line with the transformation of the “Shark” into 5-0 have increased. The trend remains bullish, so use the pullbacks for buying.

On H1, USD/JPY is forming “Three Indians” pattern. A break of the lower border of the uptrend channel will trigger the “Shark” and the “Widening wedge” patterns and increase the odds of correction towards 112.50.

More:
https://fbs.com/analytics/articles/usd-jpy-sharks-are-chasing-the-yen-4653