Market analysis and trade recommendations by FBS

[riki143]

EUR/USD: "INVERTED HAMMER" PATTERN
12:46 30.10.2017

There're bullish patterns such a "High Wave" and an "Engulfing", which both have been formed at the local low. In this case, the market is likely going to test the 34 Moving Average, which could be a departure point for another decline.

We've got an "Inverted Hammer" pattern, but bulls faced with the nearest resistance, so we could have a local bearish correction during the day. Nevertheless, an upward correction is likely going to be continued afterwards.

More:
https://fbs.com/analytics/articles/eur-usd-inverted-hammer-pattern-4721

 

[riki143]

USD/JPY: 89 MOVING AVERAGE ACTING AS SUPPORT
12:49 30.10.2017

There's a bearish "Engulfing", which has been confirmed, so the price is declining. The main intraday target is the 34 Moving Average, which could be a departure point another bullish rally.

The 89 Moving Average is acting as support, so we've got a "Hammer" and a "Tweezers" on this line. However, confirmation of these patterns is a quite weak. So, we could have a local upward correction and the following decline little later on.

More:
https://fbs.com/analytics/articles/usd-jpy-89-moving-average-acting-as-support-4722

 

[riki143]

GOLD: BULLS FENDED OFF AN ATTACK
07:08 31.10.2017

Recommendation:

SELL $1264

SL $1279

TP $1237 TP2 $1212

On the daily chart, the first attempt to test support at $1264-1267 an ounce was a failure. Bears want to repeat their attack. Their success will increase the odds of the pair reaching 78.6% and 200% targets of Gartley pattern and AB=CD.

On H1, to resume the downtrend XAU/USD needs to make another test of support at 88.6% of the last descending wave. If bulls manage to keep gold above the upper border of the downtrend channel, the possibility of reaching 88.6% target of the "Shark” pattern will increase.

More:
https://fbs.com/analytics/articles/gold-bulls-fended-off-an-attack-4747

 

[riki143]

USD/CAD: BULLS REMAIN IN CONTROL
07:21 31.10.2017

Recommendation:

BUY 1.292 SL 1.2865 TP1 1.302 TP2 1.3245

BUY 1.2715 SL 1.266 TP1 1.2815 TP2 1.2915

On the daily chart, USD/CAD keeps forming an inverted “Shark” pattern with a target at 88.6%. To continue the rally bulls, need to renew October low. As long as the pair is trading below 1.2710-1.2715, buyers remain in control of the situation. Pullbacks may be used for buying.

On H1, USD/CAD there’s a “Spike and reversal with acceleration” pattern. To break the uptrend, bears need to lead the pair below 1.26.

More:
https://fbs.com/analytics/articles/usd-cad-bulls-remain-in-control-4748

 

[riki143]

EUR/USD: "V-BOTTOM" PATTERN
09:24 31.10.2017

There's a "V-Bottom" pattern, so the price is consolidating. It's likely that bulls are going to reach the nearest resistance at 1.1668 - 1.1695 in the short term. If a pullback from this area happens, there'll be an opportunity to have a decline towards the next support at 1.1560 - 1.1533.

The price is consolidating under the 34 Moving Average, so bears are likely going to test the next support at 1.1615 - 1.1601 during the day. Meanwhile, if we see a pullback from these levels, there'll be an option to have an upward price movement in the direction of the 55 Moving Average.

More:
https://fbs.com/analytics/articles/eur-usd-v-bottom-pattern-4751

 

[riki143]

GBP/USD: BULLISH "FLAG"
09:28 31.10.2017

The Moving Averages are acting as resistance. Nevertheless, the pair is likely going to test the next resistance at 1.3278 - 1.3311 in the short term. If we have a pullback from this area, there'll be an option to have a decline towards the closest support at 1.3227 - 1.3182.

There's a bullish "Flag" pattern, so the market is likely going to test the nearest resistance at 1.3278 - 1.3286 in the coming hours. This area could be a departure point for a bearish correction towards the closest support at 1.3208 - 1.3182.

More:
https://fbs.com/analytics/articles/gbp-usd-bullish-flag-4752

 

[riki143]

EUR/USD: ZIGZAG IN WAVE (IV)
09:56 31.10.2017

There's a pullback from 2/8 MM Level, so wave (iii) might have been formed. Also, wave (iv) hasn't been finished yet, so we should keep an eye on 3/8 MM Level as an intraday target. If a pullback from this level happens, there'll be an opportunity to have another bearish impulse in wave (v) of [iii].

Wave (iv) is taking the form of a zigzag. 3/8 MM Level has acted as resistance, so we could have wave b during the day. If a pullback from 2/8 MM Level happens little later on, bulls are likely going to deliver wave c of (iv).

More:
https://fbs.com/analytics/articles/eur-usd-zigzag-in-wave-iv-4753

 

[riki143]

EUR/USD: "TWEEZERS" AND "HARAMI"
12:43 31.10.2017

There's a bearish "Harami", but confirmation of this pattern isn't enough. So, bulls are likely going to test the 34 Moving Average, which could be a departure point for another decline.

The 34 Moving Average is acting as resistance, so we've got a "Tweezers" and a "Harami" on this line. In this case, we could have a local decline during the day. Nevertheless, bulls will probably try to resume an upward correction afterwards.

More:
https://fbs.com/analytics/articles/eur-usd-tweezers-and-harami-4758

 

[riki143]

USD/JPY: "WINDOW" GOING TO ACT AS RESISTANCE
12:48 31.10.2017

The 55 Moving Average has acted as support, so there are a "Hammer" and a "Doji" patterns on this line. So, the upper "Window" is likely going to act as resistance in the short term. If a pullback from this level happens little later on, there'll be an opportunity to have just another decline.

The price has been rising since an "Inverted Hammer" formed at the local low. So, bulls are likely going to reach the next "Window" in the coming hours. If a pullback from this level arrives, bears will try to deliver a downward price movement in the direction of the lower "Window".

More:
https://fbs.com/analytics/articles/usd-jpy-window-going-to-act-as-resistance-4759

 

[riki143]

EUR/USD: 34 MA ACTED AS RESISTANCE
06:33 01.11.2017

The price is consolidating between the levels 1.1668 - 1.1615. The main intraday target is the nearest resistance at 1.1695. If a pullback from this level happens, there'll be an opportunity to have a decline towards the closest support at 1.1582 - 1.1560.

The 34 Moving Average has acted as resistance, so bears are likely going to test the nearest support at 1.1615 - 1.1601. This area could be a departure point for another bullish price movement in the direction of the 89 Moving Average.

More:
https://fbs.com/analytics/articles/eur-usd-34-ma-acted-as-resistance-4775

 

[riki143]

GBP/USD: "DOUBLE TOP" PATTERN
06:35 01.11.2017

All the Moving Averages have been broken, but bulls faced with resistance at 1.3311, so the price is consolidating. In this case, the 89 Moving Average is likely going to act as support. If so, there'll be an opportunity to have another upward price movement towards another resistance at 1.3336 - 1.3370.

There's a "Double Top" pattern, so the pair is likely going to get support on the 34 Moving Average during the day. If a pullback from this line happens little later on, bulls will probably try to reach the next resistance area at 1.3311 - 1.3336.

More:
https://fbs.com/analytics/articles/gbp-usd-double-top-pattern-4776

 

[riki143]

EUR/USD: EURO IN CONSOLIDATION ON TENKAN-SEN
07:00 01.11.2017

Technical levels: support – 1.1630; resistance – 1.1670.

Trade recommendations:

Sell — 1.1670; SL — 1.1690; TP1 — 1.1600; TP2 – 1.1580
Reason: expanding bearish Ichimoku Cloud, falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Kijun-sen; the prices are in consolidation inside a channel of Tenkan-Kijun.

More:
https://fbs.com/analytics/articles/eur-usd-euro-in-consolidation-on-tenkan-sen-4777

 

[riki143]

USD/JPY: DOLLAR READY TO CONTINUE UPTREND
07:01 01.11.2017

Technical levels: support – 113.70; resistance – 114.40.

Trade recommendations:

Buy — 113.70; SL — 113.50; TP1 — 114.40; TP2 — 114.80.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the prices are entered into the positive area and fixed up on Kijun-sen and Senkou Span A.

More:
https://fbs.com/analytics/articles/usd-jpy-dollar-ready-to-continue-uptrend-4778

 

[riki143]

USD/CHF: BULLS MADE ANOTHER ATTACK
07:24 01.11.2017

Recommendation:

BUY 1.0005

SL 0.995

TP1 1.0105 TP2 1.0145

On the daily chart, USD/CHF after forming the “Dragon” pattern and reaching 200% target of AB=CD there was a natural pullback towards 0.9965 (61.8% of the descending wave). Never the less, bulls didn’t have enough resolve to repeat the test of an important level. In case of success, the road up to 1.0145 will be open.

On H1, there’s a “Spike and ledge” pattern. A break of resistance at 1.0005 (upper border of the “Ledge” or rebound from support at 0.9940 (lower border) will increase the risks of an uptrend’s resumption.

More:
https://fbs.com/analytics/articles/usd-chf-bulls-made-another-attack-4779

 

[riki143]

GBP/USD: WILL POUND RETURN TO THE TRIANGLE?
07:43 01.11.2017

Recommendation:

SELL 1.326 SL 1.3315 TP1 1.316 TP2 1.306

SELL 1.319 SL 1.3245 TP1 1.309 TP2 1.299

On the daily chart, bulls attempted to lead GBP/USD outside of the triangle and develop correction to the short-term downtrend. If the pound manages to break above 1.3340, risks of continuation to the upside to 1.3415 and 1.3520 will increase. On the other hand, the return of the pair to the triangle will return the initiative to bears.

On H1, GBP/USD may form “Wolfe waves” pattern. The decline of the pound below 1.3190 will increase the odds of triggering the “Widening wedge” pattern.

More:
https://fbs.com/analytics/articles/gbp-usd-will-pound-return-to-the-triangle-4781

 

[riki143]

EUR/USD: LEADING DIAGONAL IN WAVE A
11:06 01.11.2017

Wave (iv) has been developing since a pullback from 2/8 MM Level happens. It's likely that 3/8 MM Level is going to act as resistance once again. So, if we have another pullback from this level, there'll be an opportunity to have wave (v) of [iii].

There's a leading diagonal in wave a, so bears are likely going to deliver wave b in the coming hours. If 6/8 MM Level acts as support, we could have another upward price movement, which could be wave c of (iv).

More:
https://fbs.com/analytics/articles/eur-usd-leading-diagonal-in-wave-a-4794

 

[riki143]

USD/JPY: "HAMMER" AND "DOJI" PATTERNS
12:38 01.11.2017

The last "Hammer" and "Doji" patterns led to the current upward price movement. If a pullback from the nearest resistance happens soon, we're likely going to have a bearish correction towards the lower "Window".

There isn't any reversal pattern so far, which means bulls are going to test the closest resistance in the coming hours. If we have a pullback from this level, there'll be an option to have a local downward correction.

More:
https://fbs.com/analytics/articles/usd-jpy-hammer-and-doji-patterns-4799

 

[riki143]

EUR/USD: 34 MA ACTING AS RESISTANCE
12:41 01.11.2017

There's a bearish "High Wave" pattern, which hasn't been confirmed enough. So, the market is likely going to test the 34 Moving Average in the short term. If a pullback from this line happens, there'll be an opportunity to have another decline.

The 34 Moving Average is acting as resistance, so we've got a "Tweezers" and a "Harami" patterns. In this case, we could have a decline during the day. If any bullish pattern forms afterwards, bulls will probably try to deliver a new local high.

More:
https://fbs.com/analytics/articles/eur-usd-34-ma-acting-as-resistance-4800

 

[riki143]

EUR/JPY: BULLS MADE A STOP
06:44 02.11.2017

Recommendation:

BUY 134.15 SL 133.60 TP1 135.15 TP2 136.00

SELL 132.15 SL 132.70 TP 131.15

On the daily chart, EUR/JPY formed a “Widening wedge” pattern. The trend remains bullish, 161.8% and 224% targets of the junior and senior AB=CD patterns are still in place, so buying is still a relevant strategy. Potential of the correction is limited.

On H1, EUR/JPY is forming the “Shark” pattern. After reaching 113% target the pair will likely pull back towards 23.6%, 38.2% and 50% of the wave CD. It may be used for opening long positions.

More:
https://fbs.com/analytics/articles/eur-jpy-bulls-made-a-stop-4812

 

[riki143]

USD/JPY: BULLS WILL FIGHT TILL THE END
06:53 02.11.2017

Recommendation:

BUY 114.30

SL 113.75

TP1 115.30 TP3 116.25

On the daily chart, after reaching 88.6% target of an inverted “Shark” pattern and a pullback USD/JPY resumed the short-term uptrend. A break of resistance at 114.35 will open the way to 113% target and 78.6% level of the descending long-term wave.

On H1, USD/JPY keeps forming a “Widening wedge”. A break of resistance at 114.30 will be a signal for buying. On the other hand, return of the pair to support at 113.30 will allow to think about selling.

More:
https://fbs.com/analytics/articles/usd-jpy-bulls-will-fight-till-the-end-4813