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EUR/USD: DEVELOPING WAVE [IV] 12:59 23.08.2017
There's a developing wave [iv], which is taking place on the four-hours chart. The main target for wave (c) is 7/8 MM Level, which could be a departure point for wave [v] of 3.
We've got a double zigzag in wave (b) and a bearish impulse in wave i. It seems like wave ii is going to end soon, so we could have wave iii of (c) in the short term. If a pullback from 3/8 MM Level happens later on, there'll be an opportunity to have an upward correction.
More:
https://fbs.com/analytics/articles/eur_usd%3a_developing_wave_%5biv%5d_3183
GBP/USD: POUND IS OVERSOLD 09:37 24.08.2017
Technical levels: support – 1.2750, 1.2710; resistance – 1.2820.
Trade recommendations:
Sell — 1.2820; SL — 1.2840; TP1 — 1.2750; TP2 — 1.2710.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, with falling lines; the local market is oversold, waiting for correction to Tenkan-sen.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_pound_is_oversold_3215
AUD/USD: BREAKDOWN OF SSA 09:38 24.08.2017
Technical levels: support – 0.7850, 0.7810; resistance – 0.7880.
Trade recommendations:
Buy — 0.7850; SL — 0.7830; TP1 — 0.7935; TP3 — 0.7980.
Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen; the prices are entered to negative area, but there is a strong support on the daily timeframe.
More:
https://fbs.com/analytics/articles/aud_usd%3a_breakdown_of_ssa_3216
EUR/USD: "DOUBLE BOTTOM" PATTERN 10:11 24.08.2017
There's a "Double Bottom" pattern, which has been confirmed, so the price is consolidating. The main intraday target is the nearest resistance at 1.1846 - 1.1875. If a pullback from this area happens, there'll be an opportunity to have a decline in the direction of the 34 Moving Average.
We've got a "Triple Top" pattern right under resistance at 1.1827. So, the price is likely going to test the 55 Moving Average in the short term. If a pullback from this line happens, bulls will probably try to achieve the closest resistance at 1.1827 - 1.1838
More:
https://fbs.com/analytics/articles/eur_usd%3a_%22double_bottom%22_pattern_3217
GBP/USD: BROKEN "FLAG" 10:19 24.08.2017
The last "Flag" pattern has been broken, so the price reached support at 1.2768. Nevertheless, bears are likely going to test the next support at 1.2768 - 1.2736 in the short term. If we have a pullback from these levels, bulls will have a green light to deliver a local upward correction.
Bears faced support at 1.2768, so the price is consolidating. In this case, we should keep an eye on the nearest resistance at 1.2811 as an intraday target. If a pullback from this level arrives little later on, there'll be an option to have another decline towards the next support at 1.2768 - 1.2736.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_broken_%22flag%22_3218
USD/JPY: YEN MET 3 INDIANS 10:28 24.08.2017
Recommendation:
BUY 109.8
SL 109.25
TP1 110.8 TP2 112
On the daily chart, another attempt of bulls to return inside the triangle was unsuccessful. In order to have another chance, buyers need to keep the pair inside the medium-term channel between 108.50 and 114.50. A successful test of its lower border will open the way down to 161.8% target of the AB=CD pattern.
On USD/JPY there's consolidation within the inverted “Spike and ledge” pattern on the basis of 1-2-3. Together with “Three Indians” it’s a serious reversal pattern.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_yen_met_3_indians_3220
USD/CHF DOESN’T WANT TO PART WITH WEDGE 10:41 24.08.2017
Recommendations:
SELL 0.9605
SL 0.966
TP1 0.9505 TP2 09475
BUY 0.975
SL 0.9695
TP 0.989
On the daily chart, USD/CHF keeps consolidation near an important level of 0.9650 (23.6% of the last long-term descending wave). If bears manage to lead the pair down below the diagonal support (lower border of the uptrend channel), the odds of reaching 88.6% target of Gartley pattern will increase.
On H1, USD/CHF is consolidating within a “Widening wedge”. A break of support levels at 0.9605 and 0.9585 won’t lead the pair south. On the other hand, successful test of resistance at 0.9750 and 0.9765 will open the way for further advance.
More:
https://fbs.com/analytics/articles/usd_chf_doesn%E2%80%99t_want_to_part_with_wedge_3221
EUR/USD: DEVELOPING ZIGZAG 11:07 24.08.2017
There's developing wave [iv], which is likely going to take the form of a zigzag. The main target is 7/8 MM Level, which could be a departure point for wave [v] of 3.
There are a bearish impulse in wave i and a zigzag in wave ii. So, there's an opportunity to have wave iii of (c) soon. In this case, we should keep in mind 3/8 MM Level as the next bearish target.
More:
https://fbs.com/analytics/articles/eur_usd%3a_developing_zigzag_3223
USD/JPY: "HAMMER" AND "BELT HOLD" 12:32 24.08.2017
There's a developing consolidation. The 34 & 55 Moving Averages are acting as resistance. In this case, the market is likely going to test the upper "Window" once again. If a pullback from this level happens afterwards, bears will probably try to reach the lower "Window".
We've got bullish patterns such a "Hammer" and a "Belt Hold" at the local low, which both have been confirmed by the last "Three Methods". So, bulls are likely going to push the price even higher during the day.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_%22hammer%22_and_%22belt_hold%22_3227
EUR/USD: 34 MA GOING TO ACT AS SUPPORT 13:02 24.08.2017
There's a "Shooting Star", but confirmation of this pattern is quite weak. So, the 34 Moving Average is likely going to act as support. If a pullback from this line happens, there'll be an opportunity to have another upward price movement towards the nearest resistance, which could be a departure point for another decline.
We've got a "Tweezers" and a "High Wave", which both have been confirmed by the two "Three Methods" patterns in a row. Therefore, the market is likely going to test the nearest support, where we could have a bullish pattern. If so, the last high will be probably tested once again.
More:
https://fbs.com/analytics/articles/eur_usd%3a_34_ma_going_to_act_as_support_3228
EUR/USD: BULLISH "PENNANT" 10:19 25.08.2017
The price is consolidating near support at 1.1801. Also, there's a "Pennant", so the market is likely going to move up towards the nearest resistance at 1.1846. In this case, we could have a new local high pretty soon. However, bears will probably try to achieve the closest support at 1.1757 afterwards.
There's a consolidation, which is taking place near the 34 Moving Average. At the same time, we've got a bullish "Pennant". Therefore, we should keep an eye on the next resistance at 1.1838 - 1.1846 as an intraday target. If a pullback from this area happens, there'll be an opportunity to have a decline towards the nearest support at 1.1789 - 1.1783.
More:
https://fbs.com/analytics/articles/eur_usd%3a_bullish_%22pennant%22_3247
GBP/USD: PRICE GOING TO TEST LAST LOW AGAIN 10:22 25.08.2017
Bears faced support at 1.2768, so the price is consolidating. It seems like the market is going to test the last low once again. If any bullish pattern arrives little later on, we should keep in mind the closest resistance at 1.2831 - 1.2853 as an intraday target.
The price is consolidating between the levels 1.2768 - 1.2831. The main bearish target is the next support at 1.2768. If a pullback from this level happens, bulls will probably try to reach the nearest resistance area at 1.2811 - 1.2831.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_price_going_to_test_last_low_again_3248
EUR/USD: WILL THE EURO FALL? 10:22 25.08.2017
Recommendation:
BUY 1.1845 SL 1.179
TP1 1.1945 TP2 1.2
SELL 1.1735
SL 1.179
TP 1.1625 TP2 1.155
On the daily chart, EUR/USD keeps forming “Spike and ledge” pattern on the basis of 1-2-3. The break of resistance at 1.1845 will increase the odds of the uptrend’s resumption. On the other hand, successful test of support at 1.1655 will open the way for a correction towards the lower border of the uptrend channel.
On H1 EUR/USD keeps consolidating within the “Widening wedge”. Return of the pair towards 38.2% and 23.6% of the wave 4-5 creates a condition for correction.
More:
https://fbs.com/analytics/articles/eur_usd%3a_will_the_euro_fall__3249
EUR/JPY: BULLS ENTER THE CROSSROADS 10:30 25.08.2017
recommendation: BUY 129.75 SL 129.2 TP1 130.95 TP2 131.8
On the daily chart, EUR/JPY bulls prepare an attack on the horizontal resistance aiming to return the pair inside the previous medium-term rising channel. If they succeed, risks of the bullish trend resumption will significantly rise.
On H1, the unsuccessful attempt of bears to make a “Head and Shoulders” pattern points at sellers’ weakness. A break of diagonal resistance will allow the bulls aim for 88.6% and 113% targets of the “Shark” pattern.
More:
https://fbs.com/analytics/articles/eur_jpy%3a_bulls_enter_the_crossroads_3251
EUR/USD: PRICE STILL CONSOLIDATING 11:19 25.08.2017
The price is still consolidating. It seems like wave [iv] is taking the form of a zigzag, so we could have a bearish impulse in wave (c) of [iv] soon. If a pullback from 7/8 MM Level happens, there'll be an opportunity to have another bullish impulse in wave [v] of 3.
There's a possible double zigzag pattern in wave (b), so we've got a bearish impulse in wave i. Therefore, we're likely going to have wave iii of (c) soon. In this case, we should keep an eye on -1/8 MM Level as an intraday target.
More:
https://fbs.com/analytics/articles/eur_usd%3a_price_still_consolidating_3253
USD/JPY: 34 MA ACTED AS RESISTANCE ONCE AGAIN 12:06 25.08.2017
The 34 Moving Average has acted as resistance once again, so there's a bearish "Harami", but this pattern hasn't been confirmed yet. Therefore, the lower "Window" is likely going to act as support, which means we could have a new local high pretty soon.
The last bearish "Harami" hasn't been confirmed enough, so it seems like we could have just a local decline. In this case, we should keep an eye on the upper "Window" as an intraday bullish target.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_34_ma_acted_as_resistance_once_again_3254
EUR/USD: BULLISH "ENGULFING" 12:10 25.08.2017
The 55 Moving Average has acted as support, so we've got a bullish "Harami" on this line. However, there's also a "Shooting Star" pattern, so the market is likely going to test the nearest support. If a pullback from the 89 MA happens afterwards, there'll be an opportunity to have another upward price movement.
There's support by the 89 Moving Average. Also, we've got a developing bullish "Engulfing". If this pattern confirms, the pair is likely going to test the nearest resistance level, which could be a departure point for a decline.
More:
https://fbs.com/analytics/articles/eur_usd%3a_bullish_%22engulfing%22_3255
EUR/USD: EURO MAY GO HIGHER 12:41 25.08.2017
Technical levels: support – 1.1780; resistance – 1.1870.
Trade recommendations:
Buy — 1.1800; SL — 1.1780; TP1 — 1.1870; TP2 – 1.1920.
Reason: narrow bullish Ichimoku Cloud with rising Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen and rising Tenkan-sen and Kijun-sen; the prices are supported by Tenkan-sen and Kijun-sen; the bulls are ready to continue uptrend.
More:
https://fbs.com/analytics/articles/eur_usd%3a_euro_may_go_higher_3256
USD/JPY: DOLLAR REACHED CLOUD’S RESISTANCE 12:42 25.08.2017
Technical levels: support – 109.20; resistance – 109.75.
Trade recommendations:
Sell — 109. 50/60; SL — 109.80; TP1 — 109.00; TP2 — 108.60.
Reason: bearish Ichimoku Cloud with falling Senkou Span B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are under the pressure of bearish Cloud.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_dollar_reached_cloud%E2%80%99s_resistance__3257
US DOLLAR: OUTLOOK FOR AUGUST 28 - SEPTEMBER 1 15:45 25.08.2017
During the past week, the US dollar index (DXY) continued consolidation.
Recent releases weren’t very optimistic: manufacturing PMI and home sales both declined. Donald Trump threatened to shut down the US government over funding for a border wallon Wednesday. The market is concerned that the Congress won’t easily raise the debt ceiling and deliver on tax reform.
There will be a lot of economic updates in the coming days: the US will release consumer confidence on Tuesday, ADP employment report and preliminary GDP for the second quarter on Wednesday, core PCE price index and personal spending on Thursday and NFP together with ISM manufacturing PMI on Friday. All in all, we’ll get a pretty much new information about America’s economic health. The quality of these statistics will be very important for further direction of the greenback. Another important driver of the market will be the speech of the Federal Reserve Chair Janet Yellen at Jackson Hole on Friday evening (August 25).
The greenback remains within the overall downtrend. A close above 93.50 is needed for the DXY to start reversing up. Next resistance levels will be at 94.00 and 94.50. A break below 93.00 will lead to 92.50 and 92.00.
More:
https://fbs.com/analytics/articles/us_dollar%3a_outlook_for_august_28___september_1_3263
EUR/USD: OUTLOOK FOR AUGUST 25 - SEPTEMBER 1 15:48 25.08.2017
EUR/USD kept trading near the benchmark line of 200-week MA (1.1760). The euro continued its consolidation and stayed within a narrower range.
ECB President Mario Draghi avoided giving any clues on the European Central Bank’s current thinking in his speech in Germany. According to Draghi, central banks must be open-minded on policy innovations as they prepare for future economic developments. Another speech at Jackson Hole on Friday evening will set the tone for the next trading days. Other comments from the ECB policymakers were hawkish and bullish for the euro.
European economic data were mostly bright. Euro zone business growth maintained solid pace in August due to a strong manufacturing PMI, although the region’s services PMI declined. German Ifo business climate surprised to the upside.
In the upcoming days, there will be some data releases of medium importance in the euro area. Pay attention to German preliminary CPI on Wednesday and flash consumer inflation figures for the entire euro zone on Thursday: these figures will be crucial for further ECB policy and, consequently, will move the market.
EUR/USD remains within the overall uptrend. Only a decline below 1.1650 will mean reversal to the downside. This level will become in focus if the euro slips below 1.1765 and 1.1690. An increase above 1.1845 is needed for the uptrend to continue. In this case, further bullish targets will lie at 1.1900 and 1.2000.
More:
https://fbs.com/analytics/articles/eur_usd%3a_outlook_for_august_25___september_1_3264
GBP/USD: BULLS ENTERED INTO CLOUD 09:40 28.08.2017
Technical levels: support – 1.2860; resistance – 1.2940.
Trade recommendations:
Buy — 1.2890; SL — 1.2870; TP1 — 1.2940; TP2 — 1.2980.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the Bulls entered into the cloudy area and may go to 3W-highs.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_bulls_entered_into_cloud_3276
NZD/USD: BULLS ARE IN STRATEGIC RETREAT 10:16 28.08.2017
Recommendation:
BUY 0.7335
SL 0.727
TP1 0.7425 TP2 0.7485 TP3 0.756
On the daily chart, NZD/USD keeps forming a 5-0 pattern. To restore the uptrend, bulls need to conquer resistances at 0.7278, 0.7335 and 0.7386. A pullback to 50% of the wave CD allowed 5-0 to finally form.
On H1, there are “Wolfe waves” and a “Shark” patterns. A break of resistance at 0.7335 will be a signal for opening long positions. As the target, one can use 113% of the wave XC.
MoreD:
https://fbs.com/analytics/articles/nzd_usd%3a_bulls_are_in_strategic_retreat___3279
AUD/USD IS BECOMING STALE ON A LEDGE 10:38 28.08.2017
Recommendation:
BUY 0.796
SL 0.7905
TP1 0.802 TP2 0.807
On the daily chart, AUD/USD bulls are trying to resume the uptrend. For that they have to conquer resistance at 0.7960 and return the pair to the short-term rising channel. In such circumstances, advance to 200% target of AB=CD has all chances to continue.
On H1, AUD/USD keeps forming corrective pattern “Spike and ledge” on the basis of 1-2-3. A break of resistance at 0.7960 will increase the odds of reaching 88.6% and 113% targets of the Shark.
More:
https://fbs.com/analytics/articles/aud_usd_is_becoming_stale_on_a_ledge__3281
EUR/USD: "V-TOP" PATTERN 11:16 28.08.2017
The last "Pennant" has been broken, so bulls pushed the price higher. Also, we've got a "V-Top" pattern, so the price is consolidating. In this case, the market is likely going to test the nearest support at 1.1892 - 1.1875. If a pullback from these levels happens, there'll be an opportunity to have another bullish price movement.
There's a "V-Top" pattern, which has been confirmed. However, bulls are likely going to test the last local high during the day. If we have a pullback from this level, bears will probably try to achieve the closest support at 1.1892 - 1.1875.
More:
https://fbs.com/analytics/articles/eur_usd%3a_%22v_top%22_pattern_3286
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%3a_%22exhaustion_gap%22_3287
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%3a_triangle_in_wave_%5biv%5d_3294
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%3a_%22tower%22_pushed_the_price_lower_3298
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%3a_34___55_mas_acted_as_support_3299
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%3a_euro_reached_new_highs_3312
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%3a_dollar_on_main_support_3313
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
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%3a_bears_want_more_3316
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%3a_bulls_went_through_resistance_3324
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%3a_bullish_%22flag%22_3325
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%3a_developing_bullish_impulse_3332
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%3a_bullish_%22hammer%22_3335
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%3a_bearish_%22engulfing%22_3336
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%3a_bulls_called_wolfe_for_help_3350
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%3a_bears_set_a_trap_3351
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%3a_%22pennant%22_pattern_3357
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%3a__market_going_to_test_34_ma_3358
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%3a__pullback_from_7_8_mm_level_3360
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%3a_bearish_%22harami%22_3366
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%3a_%22three_methods%22_pattern_3368
EUR/USD: CORRECTION TO CLOUD 09:41 31.08.2017
Technical levels: support – 1.1850, 1.1815; resistance – 1.1920, 1.1960.
Trade recommendations:
Buy — 1.1850; SL — 1.1830; TP1 — 1.1920; TP2 – 1.1960.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, narrowing channel of Tenkan-Kijun; the prices are breaking down the support of Kijun-sen and going to Cloud.
More:
https://fbs.com/analytics/articles/eur_usd%3a_correction_to_cloud_3386
GBP/USD: LOOKING FOR SSB 09:42 31.08.2017
Technical levels: support – 1.2900; resistance – 1.2970, 1.3020.
Trade recommendations:
Buy — 1.2920; SL — 1.2900; TP1 — 1.2970; TP2 — 1.3020.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Kijun-sen; the Bulls are ready to continue local uptrend up to SSB-levels.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_looking_for_ssb_3387
EUR/JPY: EURO WANTS FREEDOM 10:27 31.08.2017
Recommendation: BUY 131.8 SL 131.25 TP1 132.8 TP2 134
On the daily chart, EUR/JPY tried to lead the quotes outside of the 127.50-131.30 consolidation range to trigger AB=CD pattern and continue rally towards 134. Never the less, formation of a doji bar points at uncertainty and the possibility of a pullback.
On H1, EUR/JPY formed consolidation range of 131-131.70. The closeness of 113% target of the inverted “Shark” pattern makes bulls careful. Only if the case of its confident test will mean the continuation of the advance.
More:
https://fbs.com/analytics/articles/eur_jpy%3a_euro_wants_freedom_3389
USD/JPY: BULLS COUNTERATTACKED 10:37 31.08.2017
Recommendations:
BUY 109.7 SL 109.15 TP 111.3 TP2 112.15
BUY 110.9 SL 110.35 TP1 112.15 TP2 114
On the daily chart, bulls managed to move the pair outside of the short-term downtrend and start assailing resistance at 110.52. If they succeed, triggering of the inverted “Shark: pattern with target at 88.6% will become more likely.
On H1, USD/JPY reached the target of the “Widening wedge”. Pullbacks towards 23.6% and 38.2% of the wave CD of the “Shark” pattern, as well as the break of resistance at 110.9 should be used for opening long positions.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_bulls_counterattacked_3390
EUR/USD: "PENNANT" LED TO MASSIVE DECLINE 12:20 31.08.2017
Bears faced support at 1.1875, but the market is likely going to continue falling down. So, we should keep an eye on the 55 Moving Average as an intraday target. If a pullback from this line happens, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.1909 - 1.1959.
The last "Pennant" led to a massive decline. The main intraday bearish target is the closest support at 1.1838 - 1.1827. Meanwhile, if we have a pullback from this area, bulls will probably try to deliver an upward correction.
More:
https://fbs.com/analytics/articles/eur_usd%3a_%22pennant%22_led_to_massive_decline_3393
GBP/USD: "THORN" PATTERN 12:47 31.08.2017
The price is still consolidating near the Moving Averages. It seems like the pair is going to test the nearest support area at 1.2891 - 1.2877. However, if a pullback from these levels arrives later on, there'll be an option to have a bullish price movement towards the closest resistance at 1.2958 - 1.2989.
There's a "Thorn" pattern, so the price is consolidating. Therefore, the pair is likely going to test the 89 Moving Average. If a pullback from this line happens, bulls will have a green light to achieve another resistance at 1.2942 - 1.2958.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_%22thorn%22_pattern_3394
EUR/USD: BEARISH "ENGULFING" 14:07 31.08.2017
The last bearish "Harami" has been confirmed by a "Three Methods" pattern, so the price is declining. The next bearish target is the 55 Moving Average, which could be a departure point for an upward correction.
There's a bearish "Engulfing", which has been confirmed enough. So, the market is likely going to test the 89 Moving Average, which could act as support. If a pullback from this line happens, there'll be an opportunity to have another decline.
More:
https://fbs.com/analytics/articles/eur_usd%3a_bearish_%22engulfing%22_3398
USD/JPY: BULLISH "THREE METHODS" 14:12 31.08.2017
Bulls faced the 144 Moving Average, so we've got a "Shooting Star", but this pattern hasn't been confirmed yet. In this case, the price is likely going to test the nearest resistance level in the short term. If any bearish pattern arrives later on, we could have a downward correction.
We've got a bullish "Three Methods", so the price is likely going to test the upper "Window". If a pullback from this level happens, there'll be an opportunity to have a bearish correction.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_bullish_%22three_methods%22_3399
EUR/USD: EURO LIKED PIN BARS 10:04 01.09.2017
Recommendations:
BUY 1.1925 SL 1.187 TP1 1.1995 TP2 1.2085
BUY 1.1985 SL 1.193 TP1 1.2085 TP2 1.2185
On the daily chart, bears’ failure to rise above 1.1845 points at their weakness. This is confirmed by a pin bar with a long lower wick. Traders should favor buying on the break of resistance aiming for 161.8%, 200% and 224 targets of AB=CD pattern.
On H1, EUR/USD may form 1-2-3 pattern on correction. The break of resistances at 1.1925 and 1.1985 will be a signal for long positions.
More:
https://fbs.com/analytics/articles/eur_usd%3a_euro_liked_pin_bars_3410
EUR/GBP: BULLS COUNT ON A WEDGE 10:21 01.09.2017
Recommendations:
BUY 0.922 SL 0.9165 TP 0.932
BUY 0.9235 SL 0.918 TP 0.9335
On the daily chart, EUR/GBP is in sustainable uptrend within “Spike and reversal with acceleration”. As long as the pair doesn’t fall to 0.9068, bulls will retain total control of the pair.
On H1, EUR/GBP is forming a “widening wedge” pattern. Return of the pair to point 3 will end the process and allow to form longs. More aggressive traders can use the break of the upper border of the trend channel as a signal for opening long positions.
More:
https://fbs.com/analytics/articles/eur_gbp%3a_bulls_count_on_a_wedge_3411
EUR/USD: "V-BOTTOM" PATTERN 11:27 01.09.2017
Bears faced with support at 1.1875, so we've got a "V-Bottom" pattern, which pushed the price to the nearest resistance at 1.1909. So, the market is likely going to decline towards the next support at 1.1846. If a pullback from this level happens, there'll be an opportunity to have an upward price movement in the direction of another resistance at 1.1975 - 1.2003.
The 34 Moving Average has acted as resistance, so there's a "V-Top" pattern. Therefore, the pair is likely going to decline towards the closest support at 1.1875 - 1.1863. However, if we have a pullback from these levels, bulls will probably try to reach resistance at 1.1959.
More:
https://fbs.com/analytics/articles/eur_usd%3a_%22v_bottom%22_pattern_3415
GBP/USD: PAIR GOING TO TEST NEAREST SUPPORT 11:30 01.09.2017
We've got a "V-Bottom" pattern, so the price reached the 89 Moving Average. In this case, we could have an upward price movement towards the nearest support area at 1.2891 - 1.2877. If a pullback from these levels arrives little later on, bulls are likely going to test another resistance at 1.2958 - 1.2989.
Bulls reached resistance at 1.2942, so there's a "Double Top" pattern. Therefore, the pair is likely going to achieve the nearest support at 1.2891 - 1.2877. Meanwhile, if a pullback from this area happens, we should keep an eye on the closest resistance at 1.2942 - 1.2958 as an intraday target.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_pair_going_to_test_nearest_support_3416
NFP: A HOT DAY FOR THE US DOLLAR 11:38 01.09.2017
It’s the first Friday of September that means that the United States will release labor market data for August at 15:30 MT time. This week has already been very volatile for EUR/USD and USD/JPY. Will the news release change anything?
The risks
Yes, there are no doubts that this release will have a big impact on the market as it’s the last one before the Federal Reserve’s September meeting.
ADP employment report, which is the same as NFP, except it’s prepared not by the authorities, but by a private entity, showed that 237K jobs were created in America last month compared to 185K expected. After this publication, many market players started thinking that NFP will come out strong as well. Remember though that ADP and NFP don’t always correlate.
History shows that August payrolls tend to disappoint the market. The reasons for such consistent pattern are not quite clear. It may have something to do with seasonal factors: American teachers quit jobs and are re-employed when the new school year starts. August is also a holiday season. Many people who do contract work don't take new assignments. There are also some tricky reasons to believe that wage growth (average hourly earnings) will be lower as well (this deals with the fact how the indicator is counted).
The Fed is closely watching the US economic figures as traders try to predict further actions of the US central bank. The devastating hurricane that ran over Texas diminishes the odds of the Fed’s rate hike this year (although the hurricane won’t affect this month’s NFP). A disappointment in labor data will make the US currency suffer a lot. At the same time, USD bulls will need a reading above the consensus forecast to continue the greenback’s recovery.
The forecasts
Here are the forecasts of some well-known banks.
The impact
>200K – very USD-positive
180K-200K – mildly positive for the USD
150K-180K – mildly negative for the USD
<150 – very USD-negative
More:
https://fbs.com/analytics/articles/_nfp%3a_a_hot_day_for_the_us_dollar_3417
EUR/USD: PULLBACK FROM 1/8 MM LEVEL 12:44 01.09.2017
We've got a pullback from 1/8 MM Level, so wave [a] has been ended. However, wave 4 is likely going to be continued. So, if a pullback from 2/8 MM Level happens afterwards, we could have another bearish impulse in wave [c] of 4.
There's a bearish impulse in wave [a]. Also, bulls delivered a small bullish impulse in wave (a), so wave [b] is likely going to take the form of a zigzag. The main intraday target is 4/8 MM Level, which could be a departure point for wave [c] of 4.
More:
https://fbs.com/analytics/articles/eur_usd%3a_pullback_from_1_8_mm_level_3419
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