Market analysis and trade recommendations by FBS

[riki143]

EUR/USD: PRICE GOING TO TEST NEXT SUPPORT
08:59 26.10.2017

All the Moving Averages have been broken, so the price is moving up. The main intraday target is the nearest resistance at 1.1857. If a pullback from this level happens, there'll be an opportunity to have a decline towards the closest support at 1.1772 - 1.1757.

Bulls faced with resistance at 1.1831, so the price is consolidating. It's likely that the market is going to test the next support at 1.1810 during the day. If we have a pullback from this level, bulls will probably try to test another resistance at 1.1848 - 1.1857.

More:
https://fbs.com/analytics/articles/eur-usd-price-going-to-test-next-support-4660

 

[riki143]

GBP/USD: "DOUBLE BOTTOM" PATTERN
09:02 26.10.2017

There's a "Double Bottom" pattern, so the price is rising. The 34 Moving Average is likely going to act as support in the short term. If a pullback from this line happens little later on, there'll be an option to have a bullish price movement towards the next resistance at 1.3336 - 1.3398.

The last "Pennant" pattern has been transformed into a "Double Bottom", which led to the current bullish rally. Finally, the price found resistance at 1.3286, so we could have a local downward correction during the day. The main target for bears is the closest support at 1.3221 - 1.3200. This area could be a departure point for another upward price movement.

More:
https://fbs.com/analytics/articles/gbp-usd-double-bottom-pattern-4661

 

[riki143]

EUR/USD: DEVELOPING BULLISH IMPULSE
09:19 26.10.2017

The price has been rising since wave [ii] ended. It's likely that there's a developing bullish impulse, which could be wave [iii]. The main intraday target is 6/8 MM Level.

There are two bullish impulses, which are likely waves (i) and i. So, there's an opportunity to have an extension in wave (iii). In this case, bulls are likely going to deliver wave iii of (iii) in the short term.

More:
https://fbs.com/analytics/articles/eur-usd-developing-bullish-impulse-4662

 

[riki143]

EUR/USD: BEARISH "HIGH WAVE"
13:22 26.10.2017

There's a "Shooting Star", which has been formed at the local high. So, the price is likely going to continue declining until any bullish pattern arrives.

The last bearish "High Wave" led to the current massive decline, but there's an opportunity to have a local bullish correction in the coming hours. If a pullback from the Moving Averages arrives afterwards, we could have another decline.

More:
https://fbs.com/analytics/articles/eur-usd-bearish-high-wave-4667

 

[riki143]

USD/JPY: PRICE CONSOLIDATING NEAR "WINDOW"
13:25 26.10.2017

The price is consolidating near the "Window". The 55 Moving Average is likely going to act as support, which could be a departure point for another bullish price movement.

There's a bearish "Engulfing", which has been formed at the local high. So, the market is likely going to test the 89 Moving Average in the coming hours. If a pullback from this line happens afterwards, bulls will probably try to deliver another upward price movement.

More:
https://fbs.com/analytics/articles/usd-jpy-price-consolidating-near-window-4668

 

[riki143]

GBP/USD: POUND RETURNED TO NEGATIVE AREA
06:05 27.10.2017

Technical levels: support – 1.3100; resistance – 1.3150.

Trade recommendations:

Sell — 1.3160; SL — 1.3180; TP1 — 1.3100; TP2 — 1.3075.
Reason: narrowing bearish Ichimoku Cloud with falling Senkou Span B; a cancelled golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are in negative area, but on the strong support of 1.3100.

More:
https://fbs.com/analytics/articles/gbp-usd-pound-returned-to-negative-area-4681

 

[riki143]

AUD/USD: AUSSIE IS OVERSOLD
06:07 27.10.2017

Technical levels: support – 0.7610; resistance – 0.7690

Trade recommendations:

Buy — 0.7610; SL — 0.7590; TP1 — 0.7690; TP2 — 0.7730.
Reason: bearish Ichimoku Cloud, falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen and Kijun-sen; but the prices are on the strong daily support.

More:
https://fbs.com/analytics/articles/aud-usd-aussie-is-oversold-4682

 

[riki143]

EUR/USD WANDERED IN BEARS’ LAIR
06:26 27.10.2017

Recommendation:

SELL 1.167 SL 1.1725 TP1 1.155 TP2 144

SELL 1.1695 SL 1.175 TP1 1.155 TP2 1.144

On the daily chart, EUR/USD formed a 5-0 pattern: after a pullback towards 50% of the wave CD of the “Shark” pattern, the pair declined. Correction towards 200% target of AB=CD will likely continue.

On H1, EUR/USD formed a «Widening wedge” and almost reached 127.2% target of the ideal butterfly pattern. Pullbacks towards 1.1670 and 1.1695 may be used for selling.

More:
https://fbs.com/analytics/articles/eur-usd-wandered-in-bears’-lair-4683

 

[riki143]

EUR/GBP: BULLS DREAM ABOUT SURFING
06:37 27.10.2017

Recommendations:

BUY 0.8895 SL 0.884 TP1 0.8995 TP2 0.9075

SELL 0.8770 SL 0.8825 TP 0.8670

On the daily chart, the “Shark” pattern is transforming into 5-0. Return to 50% of the wave CD may be a reason for buying. On the other hand, a break of support levels at 78.6% and 88.6% of the wave CD will increase the risks of odds of a decline.

On H1, there are conditions for triggering “Wolfe waves” pattern with the following formation of a “Shark” pattern. At first, bulls need to conquer resistance at 0.8895 (high of the bar which marked the previous low).

More;
https://fbs.com/analytics/articles/eur-gbp-bulls-dream-about-surfing-4684

 

[riki143]

EUR/USD: "FLAG" PATTERN
09:40 27.10.2017

Bears faced with support at 1.1615, so the price is consolidating. The main intraday target is the next support at 1.1582 - 1.1560. If a pullback from this area happens, there'll be an opportunity to have an upward correction in the direction of the closest resistance at 1.1615 - 1.1668.

There's a "Flag" pattern, so the market is likely going to reach another support at 1.1582 - 1.1560 during the day. However, if we see a pullback from these levels, there'll be time for a bullish correction.

More:
https://fbs.com/analytics/articles/eur-usd-flag-pattern-4687

 

[riki143]

GBP/USD: "TRIPLE TOP" PATTERN
09:46 27.10.2017

The last bearish "Double Top" led to the current decline. It seems like bears are ready to move on, so we could have a new local low soon. At the same time, there's an opportunity to have an upward correction afterwards. The main bullish target is the nearest resistance at 1.3182 - 1.3227.

The market has plunged because of the last "Triple Top" pattern. The price is likely going to reach the next support at 1.3061 - 1.3047 during the day. If we have a pullback from this area, bulls will probably try to test the closest resistance at 1.3150 - 1.3182.

More:
https://fbs.com/analytics/articles/gbp-usd-triple-top-pattern-4688

 

[riki143]

EUR/USD: SERIES OF "THREE METHODS" PATTERNS
12:11 27.10.2017

There's a developing bearish "Three Methods". If this pattern confirms, the price is likely going to continue moving down until any bullish model forms.

We've got series of "Three Methods" patterns, so the price is still declining. It's likely that the market is going to test the nearest support area, which could be a departure point for a bullish correction.

More:
https://fbs.com/analytics/articles/eur-usd-series-of-three-methods-patterns-4690

 

[riki143]

USD/JPY: BULLISH "DOJI"
12:14 27.10.2017

The price reached the nearest resistance, but there isn't any reversal pattern so far. So, bulls are likely going to deliver a new local high. Nevertheless, there's an opportunity to have a downward correction in the short term.

There's a bullish "Doji", which has been formed at the local low. This pattern has confirmation, so we could have another upward price movement. If any bearish pattern arrives little later on, there'll be time for a downward correction.

More:
https://fbs.com/analytics/articles/usd-jpy-bullish-doji-4691

 

[riki143]

GBP/USD: POUND WILL TEST SSA
06:50 30.10.2017

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 new dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the prices are under the resistance of Senkou Span A.

More:
https://fbs.com/analytics/articles/gbp-usd-pound-will-test-ssa-4709

 

[riki143]

USD/JPY: DOLLAR RETURNED TO CLOUD
06:51 30.10.2017

Technical levels: support – 113.40; resistance – 114.40.

Trade recommendations:

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

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-returned-to-cloud-4710

 

[riki143]

EUR/USD: "V-BOTTOM" PATTERN
06:54 30.10.2017

There's a "V-Bottom" pattern, so the price reached the nearest resistance at 1.1615. Nevertheless, the market is likely going to achieve the next resistance at 1.1668 - 1.1695 in the short term. If a pullback from this area happens, we could have a downward correction towards the closest support at 1.1560 - 1.1533.

The last "V-Bottom" pattern led to the current consolidation. The main intraday target is the nearest support at 1.1582 - 1.1560. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of another resistance at 1.1668 - 1.1695.

More:
https://fbs.com/analytics/articles/eur-usd-v-bottom-pattern-4711

 

[riki143]

GBP/USD: 34 MOVING AVERAGE ACTS AS RESISTANCE
06:57 30.10.2017

We've got a "V-Bottom", which pushed the price to the nearest resistance at 1.3150. The 89 Moving Average is likely going to act as resistance in the short term. If we have a pullback from this line, bears will probably try to test the closest support at 1.3120 - 1.3081.

There's a "Double Bottom", which has been confirmed. At the same time, the 34 Moving Average acts as resistance, so bears are likely going to reach the nearest support at 1.3109 - 1.3087 during the day. This area could be a departure point for a bullish price movement towards the next resistance at 1.3182 - 1.3208.

More:
https://fbs.com/analytics/articles/gbp-usd-34-moving-average-acts-as-resistance-4713

 

[riki143]

EUR/USD: +1/8 MM LEVEL ACTED AS RESISTANCE
07:11 30.10.2017

+1/8 MM Level has acted as resistance, so a bullish impulse in wave (c) might be ended. In this case, there's an opportunity to have bearish wave 3. The main target for the coming days is 6/8 MM Level.

There's a pullback from 2/8 MM Level, so wave (iii) might have been formed. So, we're likely going to have an upward correction, which could be wave (iv). If a pullback from 3/8 MM Level happens little later on, we could have another decline in wave (v) of [iii].

More:
https://fbs.com/analytics/articles/eur-usd-+1-8-mm-level-acted-as-resistance-4714

 

[riki143]

NZD/USD: KIWI CAUGHT A CRAB
07:17 30.10.2017
Recommendation:

BUY 0.689

SL 0.6835

TP 0.699

On the daily chart, NZD/USD broke below the diagonal support and went outside of the uptrend channel. As a result, the odds of reaching 127.2% and 161.8% targets of “Crab” pattern will increase.

On H1, NZD/USD keeps forming the inverted pattern “Spike and reversal with acceleration”. As long as the pair hasn’t risen above 0.7050, bears will keep the situation under control. Formation of the “Head and shoulders” pattern will allow a short-term correction.

More:
https://fbs.com/analytics/articles/nzd-usd-kiwi-caught-a-crab-4715

 

[riki143]

AUD/USD: AUSSIE CALLED A SHARK
07:39 30.10.2017
Recommendation:

BUY 0.7685

SL 0.7630

TP 0.7775

On the daily chart, AUD/USD reached convergence area of 0.7607-0.7732 (88.6% and 161.8% targets of the “Shark” and “Crab” patterns + 61.8% of the long-term descending wave). This together with the formation of a pin bar will increase the risks of a pullback.

On H1, AUD/USD is forming the inverted “Spike and reversal with acceleration”. As long as the Australian dollar is trading above 0.7810, the situation will be controlled by bears. Triggering of the “Shark” pattern will increase the risks of a pullback to 88.6%.

More:
https://fbs.com/analytics/articles/aud-usd-aussie-called-a-shark-4717