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EUR/USD: CONFIRMED "DOJI" 14:31 01.09.2017
There's a bullish "Harami", which has been confirmed by the last "Three Methods". So, the market is likely going to rise towards the nearest resistance in the short term. If a pullback from this level happens, we could have another decline.
We've got a confirmed "Doji" at the local low, so the pair is likely going to test the upper "Window" during the day. However, if we have a bearish pattern little later on, bears will probably try to test the Moving Averages once again.
More:
https://fbs.com/analytics/articles/eur_usd%3a_confirmed_%22doji%22_3421
USD/JPY: BEARS GOING TO PUSH PRICE LOWER 14:33 01.09.2017
There's a "Shooting Star", which has been formed on the 144 Moving Average. Also, there's a local bullish "Harami", so the market is likely going to test the nearest resistance, which could be a departure point for a decline toward the lower "Window".
We've got bullish patterns such a "Tweezers" and a "High Wave", but both of them have a quite week confirmation. Therefore, if a pullback from the upper "Window" happens, bears are likely going to push the price lower.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_bears_going_to_push_price_lower_3422
USD: OUTLOOK FOR SEPTEMBER 4-8 16:31 01.09.2017
The US dollar index (DXY) dipped to 91.55 before recovering to 93.30 area, but the descending trend line didn’t let the greenback to push higher and it reserved back to the downside.
The fundamental picture for the US currency looks rather grim. Geopolitical tensions increased as North Korea launched a missile that flew over Japan on Tuesday and Trump’s Administration ordered to close 3 Russian diplomatic facilities in the United States. On the domestic front, hurricane Harvey may be the most expensive natural disaster in US history. According to the weather forecaster AccuWeather, it will cost the economy about $190 billion. No big announcement on the US tax reform came from Donald Trump. Finally, US labor market figures for August brought a big disappointment. America created only 156K jobs vs. 180K expected. The unemployment rate increased to 4.4% and monthly wage growth slowed down to 0.1%.
Other data from the US turned out to be mixed. American economy performed better than expected in the second quarter, as preliminary GDP growth was revised from the initial estimate of 2.6% to 3.0%. However, inflation keeps hovering at low levels – this may pose an obstacle to the Fed’s rate hikes this year. Consumer spending rose slightly less than expected in July, but consumer confidence came out strong.
US banks will be closed on Monday as the nation will celebrate Labor Day. All in all, the week will be lighter on the data front. Pay attention to ISM services PMI on Wednesday and unemployment claims and crude oil inventories on Thursday.
American currency remains within a downtrend. Declines below 92.00 (50-month MA) and 2016 low at 91.88 will bring DXY to 2015 low at 90.70. The greenback needs to return above 93.00 to reverse this trend and get a chance to rise to 94.00.
More:
https://fbs.com/analytics/articles/usd%3a_outlook_for_september_4_8_3423
EUR/USD: OUTLOOK FOR SEPTEMBER 4-8 17:18 01.09.2017
The single currency had an extremely volatile week. EUR/USD made a spike to 1.2070, then fell to 1.1820 and then made another spike to the levels close to 1.2000 before returning below 1.1900.
The euro made bullish swings on good data from the euro area and the US dollar’s weakness. European inflation gathered pace in August. CPI increased by 1.5% exceeding analysts’ forecasts. At the same time, the acceleration was mainly because of higher oils prices as core CPI, which excludes energy and food prices, maintained the same pace.
Disappointing US labor data on Friday pushed the euro higher, but the euro bulls were stopped by a report from Bloomberg, citing unnamed euro zone officials, that the ECB may not be ready to finalize their decision on next year’s QE program until December.
Traders are looking forward to the European Central Bank’s meeting on Thursday, September 7. Only a few analysts expect the ECB to announce a timeline for its withdrawal in bond purchase plans. At his speech in Jackson Hole in August, the ECB President Mario Draghi said that “a significant degree of monetary accommodation” was still warranted. Instead, the market’s focus will be on the regulator’s comments on the euro’s strength. Minutes of the regulator’s most recent meeting showed some officials were concerned about this. Yet, some of the ECB members have made hawkish comments recently.
EUR/USD is still within the general uptrend. A weekly close below 1.1900 may set the ground for further correction to the downside. The 200-week MA at 1.1750 should act as support ahead of 1.1700. The level of 1.2000 represents a key psychological level. The pair’s inability to close above it on Tuesday together with daily MACD divergence points at the necessity to visit support levels. In addition, pay attention to the fact that EUR/USD ran into the Ichimoku Cloud and 50-period MA at the monthly chart – these things create resistance.
The US economic calendar is going to be light. Take into account our technical analysis considerations and prepare for volatility during the ECB meeting & press conference.
More:
https://fbs.com/analytics/articles/eur_usd%3a_outlook_for_september_4_8_3425
GBP/USD: OUTLOOK FOR SEPTEMBER 4-8 17:38 01.09.2017
In line with our expectations, GBP/USD tried to recover but remained limited by the key psychological level of 1.3000 on the upside. The pair’s recovery was caused primarily by the weakness of the US dollar and not by the strength of British pound.
The sterling remains under the negative impact of uncertainty over Britain’s exit from the European Union. The third round of Brexit negotiations started on Monday, but the EU’s chief negotiator said that the progress of the talks was slow.
One of the Bank of England Monetary Policy Committee members Saunders, who has recently voted for a rate hike, warned that unless the regulator didn’t start raising rates soon, it will have to increase rates at a faster pace in future potentially hurting economic growth. However, the prevailing opinion is still that the BoE will keep rates low until the situation with Brexit becomes clearer.
The UK manufacturing PMI hit a 4-month high in August. In the coming days, the nation will release construction and services PMIs. On addition, the BoE Governor Mark Carney will speak at the House of Commons in line with Inflation Report hearings on Tuesday. His comments may be market movers. At the end of the week, on Friday, Britain will release manufacturing production figures.
Technically GBP/USD rebounded from support line connecting April, June and September lows. This line is currently providing support around 1.2800. On H4 we see something like an inverted Head & Shoulders. A break above 1.3000 will allow the pound to strengthen to 1.3100 and 1.3160. Below 1.2800 the pound will get vulnerable for a decline to 1.2750 and 1.2660 (200-day MA).
More:
https://fbs.com/analytics/articles/gbp_usd%3a_outlook_for_september_4_8_3426
USD/JPY: OUTLOOK FOR SEPTEMBER 4-8 18:09 01.09.2017
Japanese yen has been influenced by tensions between the US and North Korea. It gained as a safe haven at the beginning of the week after North Korea fired a missile over Japanese territory on Tuesday. USD/JPY fell to 108.25 before recovering to the 110.50 area.
According to Japan’s defense minister, more missiles will come. North Korea watchers suspect the regime may conduct another nuclear test over the next 10 days. Although market reactions to North Korea’s actions have become more muted, if the Asian nation continues to escalate the situation, the yen will strengthen more versus the US dollar.
Japanese preliminary industrial production declined by 0.8%, housing starts fell by 2.3%, household spending reduced by 0.2%. In the coming days, Japan will release average cash earnings, leading indicators, final GDP for the second quarter and current account. US economic calendar will be lighter than in the previous week. The greenback may take a break, although American economic fundamentals aren’t encouraging.
USD/JPY managed to close in August above 50-month MA at 109.70. The pair is supported at 108.10 (April low). A decline below this level will set the stage for a big swing down. The fact that the US dollar managed to rise despite the disappointing labor market data on Friday suggests the possibility of some near-term recovery, although there are many resistance levels ahead at 111.00, 111.40 (200-week MA) and 112.40 (200-day MA).
More:
https://fbs.com/analytics/articles/usd_jpy%3a_outlook_for_september_4_8_3427
EUR/USD: "THORN" PATTERN 10:07 04.09.2017
The main trend is still bullish, but the price faced resistance at 1.1959, so we've got a "Thorn" pattern, which pushed the market to the 34 Moving Average. In this case, we should keep an eye on the nearest support area at 1.1827 - 1.1801 as an intraday target. If a pullback from these levels happens, we could have an upward price movement towards the closest resistance at 1.1909 - 1.1959.
Bears faced support at 1.1847, so the price is consolidating. However, the pair is likely going to test the next support at 1.1827 - 1.1822. If so, we could have a new local low soon. Meanwhile, there's an opportunity to have a bullish price movement towards the nearest resistance at 1.1892 - 1.1909 afterwards.
More:
https://fbs.com/analytics/articles/eur_usd%3a_%22thorn%22_pattern_3435
GBP/USD: BULLS GOING TO BREAK THE LAST HIGH 10:10 04.09.2017
Bulls found resistance at 1.2985, so we've got a "V-Top" pattern, which has been confirmed. If the 89 Moving Average acts as support, the price is likely going to test another resistance at 1.2989. If a pullback from this level happens, bears will probably try to test the nearest support at 1.2932 - 1.2891.
There's a "V-Top" pattern, which pushed the price to the closest support at 1.2936. Nevertheless, bulls are likely going to break the last high during the day. If the market doesn't fixate above 1.2989 - 1.2994, there'll be an opportunity to have a decline in the direction of the next support at 1.2932 - 1.2916.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_bulls_going_to_break_the_last_high_3436
EUR/USD: MARKET GOING TO TEST 55 MA AGAIN 10:27 04.09.2017
The 34 & 55 Moving Averages have acted as support, so we've got bullish patterns such a "Harami" and an "Inverted Hammer". However, confirmation of these patterns is quite weak, so the market is likely going to test the 55 MA once again.
The price is consolidating near the last "Window". Also, there are a "Harami" and a "High Wave" patterns. Therefore, the pair is likely going to test the nearest resistance, which could be a departure point for an intraday decline.
More:
https://fbs.com/analytics/articles/eur_usd%3a_market_going_to_test_55_ma_again_3438
USD/JPY: NEW "WINDOW" 10:29 04.09.2017
There's a new "Window", but we still don't have any reversal pattern. So, the price is likely going to continue falling down towards the lower "Window". If any bullish pattern arrives later on, there'll be an opportunity to have a bullish price movement.
The last pullbacks from the upper "Window" led to form a new local low. It's likely that the market is going to test the nearest support, which could be a departure point for an upward correction.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_new_%22window%22_3439
NZD/USD IS GATHERING STRENGTH FOR TAKEOFF 11:03 04.09.2017
Recommendations:
BUY 0.7205
SL 0.715
TP1 0.7295 TP2 0.7345 TP2 0.7395
On the daily chart, NZD/USD keeps correcting to the long-term uptrend as the “Shark” pattern is transforming into 5-0. Bulls retain hopes for return to 61.8% and 50% of the wave CD with the following recovery of the trend.
On H1, NZD/USD is forming the “widening wedge” pattern. Another test of resistance at 0.7205 will end the process. Success will allow bulls to count on a correction to the current short-term downtrend.
More:
https://fbs.com/analytics/articles/nzd_usd_is_gathering_strength_for_takeoff__3443
EUR/USD: WAVE (II) IS ABOUT TO END 11:13 04.09.2017
There's developing wave 4, which is likely going to take the form of a zigzag. So, we could have a downward impulse in wave [c] soon. If a pullback from 1/8 MM Level happens afterwards, there'll be an opportunity to have another bullish rally.
Wave [b] has been formed like a zigzag, so there's a bearish impulse in wave (i). At the same time, wave (ii) is about to end, so we're likely going to have a decline in wave (iii) of [c] during the day.
More:
https://fbs.com/analytics/articles/eur_usd%3a_wave_%28ii%29_is_about_to_end_3444
AUD/USD PAINTED A TRIANGLE 11:22 04.09.2017
Recommendation:
BUY 0.7985 SL 0.793 TP1 0.8085 TP2 0.8335
SELL 0.7915 SL 0.797 TP 0.779
On the daily chart, AUD/USD formed a triangle. A break of its upper border will create conditions needed for an advance to 0.8000. On the other hand, it the pair quits bullish trend channels, risks of correction will strengthen.
On H1, there’s a “Widening wedge” pattern. The successful test of 0.7982 will allow bulls to keep moving up. On the other hand, decline to support 0.7918 will return initiative to bears.
More:
https://fbs.com/analytics/articles/aud_usd_painted_a_triangle_3446
GBP/USD: TRADES IN CLOUD WILL CONTINUE 12:00 04.09.2017
Technical levels: support – 1.2920, 1.2900; resistance – 1.3020.
Trade recommendations:
Buy — 1.2920; SL — 1.2900; TP1 — 1.2970; TP2 — 1.3020.
Reason: narrow bullish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market is supported by Tenkan and Kijun.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_trades_in_cloud_will_continue_3448
AUD/USD: AUSSIE CAN’T BREAKOUT 0.8000 12:01 04.09.2017
Technical levels: support – 0.7940; resistance – 0.8000.
Trade recommendations:
Buy — 0.7940/50; SL — 0.7920; TP1 — 0.8000; TP3 — 0.8040.
Reason: bullish Ichimoku Cloud, horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the prices are returned to the Cloud and supported by Tenkan, Kijun and upper border of the Cloud.
More:
https://fbs.com/analytics/articles/aud_usd%3a_aussie_can%E2%80%99t_breakout_0.8000_3449
XAU/USD HAS SPREAD ITS WINGS 09:38 05.09.2017
Recommendation:
BUY $1321
SL $1305
TP $1351 TP2 $1386
On the daily chart, XAU/USD keeps rallying towards 200% target of the AB=CD pattern. The area of $1347-1352 acts as key resistance. Support is near $1320.4-1321.6. Bulls retain control, so buying on the pullbacks is the main strategy.
On H1, XAU/USD keeps forming “Spike and reversal with acceleration”. As long as the pair remains above the trend line of the first stage ($1290), the outlook is bullish.
More:
https://fbs.com/analytics/articles/xau_usd_has_spread_its_wings_3479
USD/CAD: BULLS ARE COUNTING ON A TRIANGLE 09:47 05.09.2017
Recommendation:
SELL 1.2505 SL 1.256 TP 1.231 TP2 1.218
SELL 1.255 SL 1.261 TP 1.245 TP2 1.231
On the daily chart, USD/CAD bears managed to renew the long-term low. This increases the risks of the continuation of the decline to 1.2310, 1.2180 and 1.2040. Never the less, we can’t exclude the possibility of a short-term pullback because of the inside bar.
On H1, bears returned the pair inside the descending channel. This is a sign of their strength. At the same time, a break of the upper border of the triangle will create the risks of a pullback towards 1.2501-1.2507 and 1.254-1.2559.
More:
https://fbs.com/analytics/articles/usd_cad%3a_bulls_are_counting_on_a_triangle_3480
EUR/USD: EURO ENTERED INTO CLOUD 10:05 05.09.2017
Technical levels: support – 1.1870/80; resistance – 1.1950, 1.1990.
Trade recommendations:
Buy — 1.1910; SL — 1.1880; TP1 — 1.1950; TP2 – 1.1990.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; an irregular golden cross of Tenkan-sen and Kijun-sen, narrow channel of Tenkan-Kijun; the prices are supported by Cloud.
More:
https://fbs.com/analytics/articles/eur_usd%3a_euro_entered_into_cloud_3482
USD/JPY: DOLLAR GOING TO NEGATIVE AREA 10:05 05.09.2017
Technical levels: support – 190.30, 108.90; resistance – 109.60, 109.90.
Trade recommendations:
Sell — 109. 50; SL — 109.70; TP1 — 108.90; TP2 — 108.50.
Reason: narrow bullish Ichimoku Cloud with horizontal Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen and the falling lines; Dollar is going to new lows and may breakdown the support of the Cloud.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_dollar_going_to_negative_area_3483
EUR/USD: BEARISH "FLAG" PATTERN 12:17 05.09.2017
The price is consolidating between the levels 1.1909 - 1.1875. It's likely that bears are going to test the 55 Moving Average, so we could have a new local low soon. However, 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.
There's a consolidation, which is taking place above the 89 Moving Average. It seems like we're going to have a "Flag" pattern. If so, bears will probably try to test the closest support area at 1.1827 - 1.1822. Meanwhile, if a pullback from these levels happens, we could have an upward correction.
More:
https://fbs.com/analytics/articles/eur_usd%3a_bearish_%22flag%22_pattern_3488
GBP/USD: 34 & 55 MA ACTING AS SUPPORT 12:20 05.09.2017
The 34 & 55 Moving Averages are acting as support. Nevertheless, the pair is likely going to test the next support at 1.2891 - 1.2853 in the short term. If a pullback from this area happens little later on, we should keep an eye on the nearest resistance at 1.2989 - 1.3021 as an intraday bullish target.
Bears faced with support at 1.2916, so the price is consolidating. Also, there's a "Flag" pattern, so the market is likely going to reach the closest support area at 1.2891 - 1.2872, which could be a departure point for a bullish correction.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_34___55_ma_acting_as_support_3489
EUR/USD: "HARAMI" AND "SHOOTING STAR" 12:23 05.09.2017
There's a developing bearish correction. We've got bearish patterns such a "Harami" and a "Shooting Star" at the last local high. So, the price is likely going to test the 89 Moving Average, which could be a departure point for another bullish rally.
The Monday's "Window" remains open, but the last bearish "Engulfing" and "High Wave" patterns are still in the game. At the same time, there's an opportunity to have a local upward correction towards the Moving Averages. Nevertheless, bears are likely going to test the nearest support afterwards
More:
https://fbs.com/analytics/articles/eur_usd%3a_%22harami%22_and_%22shooting_star%22_3490
USD/JPY: BEARISH "THREE METHODS" 12:26 05.09.2017
We've got a bearish "Three Methods", but there's a local bullish "Harami" pattern, which has been confirmed. So, the market is likely going to test the closest resistance level, which could lead to another decline.
There's resistance by the Monday's "Window". However, we've got a confirmed bullish "Hammer", so the pair is likely going to test the Moving Averages. If a pullback from these lines happens, bears will try to deliver a new local low.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_bearish_%22three_methods%22_3491
EUR/USD: DEVELOPING IMPULSE IN WAVE [C] OF 4 12:51 05.09.2017
An extension in wave 3 has been finished under 3/8 MM Level, so there's developing wave 4, which is likely going to take the form of a zigzag. If the price doesn't find a lodgement below 1/8 MM Level, there'll be an opportunity to have another bullish impulse.
Wave [b] has been formed like a zigzag, so there's a developing impulse in wave [c] of 4. It's likely that wave (iii) of [c] is going to move on, so we could have a new local low pretty soon. The main target for wave [c] is 1/8 MM Level.
More:
https://fbs.com/analytics/articles/eur_usd%3a_developing_impulse_in_wave_%5bc%5d_of_4_3492
USD/CHF: BULLS WANT REVENGE 06:25 06.09.2017
Recommendation:
BUY 0.964
SL 0.9585
TP1 0.9765 TP2 0.986
On the daily chart, a double bottom allows the bulls to retain hopes of finishing a “Dragon” pattern. To do it they have to return the quotes to resistance levels at 0.9650 and 0.9765 and conquer them.
On H1, a successful test of resistance at 0.9640 (upper border of the downtrend channel) will increase the risks of an inverted butterfly pattern. Its 127.2% target corresponds to 0.9860.
More:
https://fbs.com/analytics/articles/usd_chf%3a_bulls_want_revenge_3508
GBP/USD: BULLS RETURN TO THE GAME 06:36 06.09.2017
Recommendation:
SELL 1.296
SL 1.3015
TP1 1.2835 TP2 1.2775
On the daily chart, GBP/USD returned inside the long-term bullish channel. This points at buyers’ strength. Bears can regain the initiative only if the pair slide below $1.2962. A break of this support will increase the risks of triggering “Head and shoulders” pattern.
On H1, GBP/USD keeps forming the 5-0 pattern. Conservative approach suggests opening short positions as the pair returns to the previous correction level (38.2%) of the wave CD.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_bulls_return_to_the_game_3510
GBP/USD: BULLS LOOK STRONG 07:08 06.09.2017
Technical levels: support – 1.2920, 1.2980; resistance – 1.3020/40.
Trade recommendations:
Buy — 1.2980; SL — 1.2960; TP1 — 1.3040; TP2 — 1.3100.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls are breaking out the Cloud’s resistance and may go higher.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_bulls_look_strong_3514
AUD/USD: AUSSIE RETURNED TO 0.8000 07:09 06.09.2017
Technical levels: support – 0.7940, 0.7980; resistance – 0.8000.
Trade recommendations:
Sell — 0.7970; SL — 0.7990; TP1 — 0.7940; TP3 — 0.7920.
Buy — 0.7930; SL — 0.7910; TP1 — 0.8000; TP3 — 0.8040.
Reason: bullish Ichimoku Cloud, horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls are tested the strong resistance on 0.8000, but can’t break it out.
More:
https://fbs.com/analytics/articles/aud_usd%3a_aussie_returned_to_0.8000_3515
EUR/USD: BEARS GOING TO TEST 55 MA 09:38 06.09.2017
The price is still consolidating between the levels 1.1959 - 1.1875. So, bears are likely going to test the 55 Moving Average, which could act as support. If so, there'll be an opportunity to have an upward correction towards the nearest resistance at 1.1975 - 1.2003.
There's a consolidation, which is taking place above the Moving Averages. It's likely that the market is going to test the closest support at 1.1874 - 1.1864. If a pullback from this area happens, bulls will try to achieve the next resistance at 1.1975 - 1.2003.
More:
https://fbs.com/analytics/articles/eur_usd%3a_bears_going_to_test_55_ma_3519
GBP/USD: "TRIPLE TOP" LED TO CONSOLIDATION 09:44 06.09.2017
The Moving Averages have acted as support, so the price is rising, but bulls faced with resistance at 1.3032 - 1.3047. In this case, we should keep an eye on the nearest support at 1.2994 - 1.2977 as an intraday target. If a pullback from these levels happens, there'll be an opportunity to have even more bullish pressure.
There's a "Triple Top", so the price is consolidating. Therefore, the market is likely going to test the closest support at 1.2994 - 1.2977 during the day. Meanwhile, bulls could deliver a new local high afterwards.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_%22triple_top%22_led_to_consolidation_3520
EUR/USD: UPPER "WINDOW" ACTING AS RESISTANCE 10:36 06.09.2017
The 34 & 55 Moving Averages have acted as support, so the price is moving up. There's no any reversal pattern, cause all the last candles are bullish. Therefore, the market is likely going to continue rising towards the nearest resistance level.
The upper "Window" is acting as resistance, so we could have a local bearish correction towards the Moving Averages. If a pullback from these lines arrives little later on, there'll be an opportunity to have another bullish price movement.
More:
https://fbs.com/analytics/articles/eur_usd%3a_upper_%22window%22_acting_as_resistance_3521
USD/JPY: "TWEEZERS" AND "HAMMER" 10:38 06.09.2017
There's a possible "Three Methods" pattern, so the current local correction is likely going to end soon. Previously, a "Shooting Star" pattern has been formed on the 89 Moving Average. In this case, we could have a new local low pretty soon.
There are bullish patterns such a "Tweezers" and a "Hammer", but both of them haven't been confirmed yet. So, we could have just a local correction towards the 34 Moving Average. If a pullback from this line happens, bears are going to break the last low.
More:
https://fbs.com/analytics/articles/usd_jpy%3a_%22tweezers%22_and_%22hammer%22_3522
EUR/USD: POSSIBLE ENDING DIAGONAL 11:06 06.09.2017
The price is still consolidating under 4/8 MM Level, which could be a departure point for wave [c]. The main target for wave 4 is 1/8 MM Level. If we have a pullback from this level, bulls are likely going to deliver another upward impulse.
There's a possible ending diagonal in wave (c) of [b]. If a pullback from 4/8 MM Level happens, there'll be an opportunity to have a bearish impulse in wave [c] of 4. If so, we should keep an eye on 1/8 MM Level as an intraday target.
More:
https://fbs.com/analytics/articles/eur_usd%3a_possible_ending_diagonal_3523
EUR/USD: READY TO CONTINUE UPTREND 06:45 07.09.2017
Technical levels: support – 1.1910; resistance – 1.1960, 1.1990.
Trade recommendations:
Buy — 1.1910; SL — 1.1890; TP1 — 1.1960; TP2 – 1.1990.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; an irregular dead cross of Tenkan-sen and Kijun-sen, narrowing channel of Tenkan-Kijun; the prices are on the support of Tenkan-sen and Kijun-sen and breaking out the SSA’s resistance.
More:
https://fbs.com/analytics/articles/eur_usd%3a_ready_to_continue_uptrend_3540
GBP/USD: CONSOLIDATION OVER CLOUD 06:46 07.09.2017
Technical levels: support – 1.2980/90; resistance – 1.3020/40.
Trade recommendations:
Buy — 1.3050; SL — 1.3030; TP1 — 1.3100; TP2 — 1.3130.
Buy — 1.2990; SL — 1.2970; TP1 — 1.3040; TP2 — 1.3100.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, the rising lines; the market is out from the overbought area soon and may go higher.
More:
https://fbs.com/analytics/articles/gbp_usd%3a_consolidation_over_cloud_3542
USD/JPY: YEN IS MOVING THROUGH CHANNELS 07:09 07.09.2017
Recommendations:
SELL 108.5 SL 109.05 TP 106.4
BUY 109.75 SL 109.2 TP 112.1
On the daily chart, USD/JPY bulls are trying to leave the short-term descending channel. If they fail and bears manage to renew August low and conquer support at 108.03, risks of decline towards 127.2% and 161.8% targets of the AB=CD pattern will increase.
On H1, USD/JPY formed a “Widening wedge". The return of the pair to 38.2% and 23.6% of the wave 4-5 may be used for buying. On the other hand, another test of support at 108.54 can be used for selling.
More:
https://fbs.com/analytics/articles/usd-jpy-yen-is-moving-through-channels-3543
EUR/JPY: BULLS ARE PREPARING AN ATTACK 07:42 07.09.2017
Recommendation:
BUY 130.65 S
L 130.1
TP 131.65 TP2 133.8
On the daily chart, EUR/JPY entered the dead zone between the short-term downtrend and the long-term uptrend channels. To develop correction, bears need to form and reach targets of the “Widening wedge”. The presence of the inside bar creates a possibility for the short-term trades.
On H1, EUR/JPY is consolidating in range as the “Shark” pattern is transforming into 5-0. Bulls managed to lead the pair outside the downtrend channel. To resume the uptrend, they need to overcome resistance at 130.65.
More:
https://fbs.com/analytics/articles/eur-jpy-bulls-are-preparing-an-attack-3544
EUR/USD: POSSIBLE TRIANGLE PATTERN 09:07 07.09.2017
The price is still consolidating near the 34 Moving Average, so bears are likely going to reach the nearest support at 1.1909 - 1.1892. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of the closest resistance at 1.1975 - 1.2003.
There's a possible triangle pattern. In this case, the market is likely going to get support on the 89 Moving Average. Meanwhile, if we see a pullback from this line, bulls will try to test another resistance at 1.1975 - 1.2003.
More:
https://fbs.com/analytics/articles/eur-usd-possible-triangle-pattern-3551
GBP/USD: "V-TOP" PATTERN 09:10 07.09.2017
There's a "Thorn" pattern, which pushed the price to the nearest support at 1.3047 - 1.3032. However, bears are likely going to test the next support at 1.2994 - 1.2977 in the short term. If a pullback from these levels happens little later on, there'll be an option to have a bullish price movement towards the closest resistance at 1.3082 - 1.3096.
Bulls faced with resistance at 1.3082, so there's a "V-Top" pattern. Therefore, the pair is likely going to decline towards the nearest support area at 1.2994 - 1.2977. At the same time, bulls will probably try to deliver a new local high afterwards.
More:
https://fbs.com/analytics/articles/gbp-usd-v-top-pattern-3553
EUR/USD: DEVELOPING WAVE 4 09:41 07.09.2017
There's a developing wave 4, which is likely going to take the form of a zigzag. So, if a pullback from 4/8 MM Level happens, there'll be an opportunity to have a bearish impulse in wave [c]. The main target for wave 4 is 1/8 MM Level.
It seems like we've got an ending diagonal pattern in wave (c) of [b]. In this case, if we have a pullback from 4/8 MM Level, bears are likely going to test 1/8 MM Level, which could be a departure point for wave (i).
More:
https://fbs.com/analytics/articles/eur-usd-developing-wave-4-3559
EUR/USD: BULLISH "THREE METHODS" 11:33 07.09.2017
We've got a bullish "Three Methods", which has been confirmed. So, the market is likely going to continue moving up towards the nearest resistance area. If any bearish pattern forms little later on, there'll be an opportunity to have a decline.
The 34 Moving Average has acted as support, so the price is rising. The last "Window" has been broken. If a pullback from the achieved resistance happens, bears are likely going to deliver a local downward correction.
More:
https://fbs.com/analytics/articles/eur-usd-bullish-three-methods-3561
USD/JPY: PULLBACK FROM THE LOWER "WINDOW" 11:36 07.09.2017
There's a pullback from the lower "Window", but we've got a local bearish "Shooting Star", which has been confirmed. So, the market is likely going to test the lower "Window" once again in the short term.
We've got a "Doji" and a "High Wave" on the 55 Moving Average. Considering of confirmation of both patterns, the pair is likely going to continue moving down towards the last low until any bullish pattern arrives.
More:
https://fbs.com/analytics/articles/usd-jpy-pullback-from-the-lower-window-3562
EUR/USD: BULLS NEED A REST 07:17 08.09.2017
Recommendation:
SELL 1.2035
SL 1.209
TP 1.1935
On the daily chart, EUR/USD keeps forming “Spike and ledge with acceleration”. The trend’s angle is increasing the risks of correction. The inability of bulls to keep the pair above 1.2062 and 1.2156 (161.8% and 200% targets) points at their weakness.
On H1, EUR/USD formed 2 convergence areas with the help of senior and junior AB=CD patterns. The fall of the pair below the low of the bar, which marked the previous minimum, will signal the start of bears’ counterattack.
More:
https://fbs.com/analytics/articles/eur-usd-bulls-need-a-rest-3578
EUR/GBP: BULLS ARE LIFTING THEIR HEADS 07:28 08.09.2017
Recommendation:
BUY 0.9215
SL 0.916
TP 0.929 TP2 0.9355 TP3 0.942
On the daily chart, EUR/GBP keeps forming “Spike and reversal with acceleration”. Until the price falls below both trendlines, bulls will retain control of the situation. Their further movement up will increase the possibility of an advance towards 127,2%, 161.8%, 200% and 224% targets of AB=CD.
On H1, a break above resistance at 0.9213 and the following triggering of the “Widening wedge” and the “Shark” patterns will increase the possibility of an advance to 0.9285-0.9290.
More:
https://fbs.com/analytics/articles/eur-gbp-bulls-are-lifting-their-heads-3580
EUR/USD: "DOUBLE TOP" PATTERN 08:29 08.09.2017
The 34 Moving Average has acted as support so the price is rising. However, bulls didn't fixate above the "Runaway Gap", so we could have a local downward correction. Nevertheless, the market is likely going to climb even higher, so we should keep an eye on the next resistance at 1.2080 - 1.2129 as an intraday target.
We've got a "Double Top" pattern, which has been confirmed, so the price is likely going to achieve the closest support at 1.2022. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards another resistance at 1.2129.
More:
https://fbs.com/analytics/articles/eur-usd-double-top-pattern-3581
GBP/USD: BULLS FACED WITH RESISTANCE 08:31 08.09.2017
Bulls faced with resistance at 1.3164, so the market is likely going to decline towards the nearest support at 1.3119 - 1.3083. However, if a pullback from this area happens, we could have an upward price movement in the direction of the closest resistance at 1.3164 - 1.3190.
There's a "Thorn" pattern, which pushed the pair to support at 1.3114. Meanwhile, the price is likely going to reach the next support at 1.3093 - 1.3083, which could be a departure point for a bullish price movement. In this case, we should keep in mind the nearest resistance at 1.3164 - 1.3190 as the next bullish target.
More:
https://fbs.com/analytics/articles/gbp-usd-bulls-faced-with-resistance-3582
EUR/USD: BULLS GOING TO TEST NEXT RESISTANCE 11:51 08.09.2017
The price is still rising, but we've got a bearish "High Wave" at the local high, so there's a local consolidation. However, bulls are likely going to test the next resistance in the short term. If a pullback from this level happens afterwards, there'll be an opportunity to have a bearish correction.
We've got a "Shooting Star", but this pattern is unconfirmed, cause the last candles have been closed above the middle of the huge white candle. In this case, the market is likely going to continue moving up.
More:
https://fbs.com/analytics/articles/eur-usd-bulls-going-to-test-next-resistance-3586
USD/JPY: BEARISH "THREE METHODS" PATTERN 11:53 08.09.2017
Bears are still pushing the price lower, so we don't have any reversal pattern. Therefore, the pair is likely going to continue falling down towards the lower "Window". If any bullish pattern arrives later on, we could have an upward correction.
We've got a bearish "Three Methods" pattern at the local low. Previously, a bearish "Engulfing" has been formed. So, the market is likely going to continue declining during the day.
More:
https://fbs.com/analytics/articles/usd-jpy-bearish-three-methods-pattern-3587
EUR/USD: 7/8 MM LEVEL ACTED AS RESISTANCE 12:38 08.09.2017
We've got a new high, so wave 5 may have been started. At the same time, wave 4 turned out to be a triangle pattern, so there's a bullish impulse in wave [i] of 5. 7/8 MM Level acted as resistance, which means we could have a local bearish correction in the short term. Nevertheless, bulls are likely going to deliver wave [iii] of 5 afterwards.
Wave (v) of [i] has been ended on 8/8 MM Level, so it's time for a correction. The nearest target for wave [ii] is 6/8 MM Level, which could be a departure point for another bullish rally.
More:
https://fbs.com/analytics/articles/eur-usd-7-8-mm-level-acted-as-resistance-3594
EUR/USD FAVORED BY THE BULLISH PRICE ACTION 00:46 11.09.2017
EUR/USD remains supported in favor of the bulls and as we can see in the H1 chart, the Fibonacci area of 50% and 65% have provided the enough momentum in order to help the pair to consolidate above the critical level of 1.20. Because of the rebound above such area and the 200 SMA at H1 chart, we’re expecting a bullish continuation towards the -23.6% Fibonacci retracement level at 1.2165. Corrective moves should be limited by the 38.2% Fibo zone.
RSI indicator is still in the neutral territory, calling for a bullish consolidation before any significant move.
More:
https://fbs.com/analytics/articles/eur-usd-favored-by-the-bullish-price-action-3608
NZD/USD: BEARS FOUND A SHARK 07:03 11.09.2017
Recommendation:
SELL 0.7225
SL 0.728
TP1 0.715 TP2 0.7105
On H1, the inability of the bulls to lead the pair outside of the descending channel and formation of the bar with the long upper wick points at buyers’ weakness. Realization of the inverted 5-0 pattern is delayed.
On H1, NZD/USD reached the targets if the “Widening wedge”, “Three Indians” and 1-2-3. If the pair renews correction low with the following decline below the lower border of an uptrend channel, risks of reaching 88.6% target of a Shark pattern will increase.
More:
https://fbs.com/analytics/articles/nzd-usd-bears-found-a-shark-3614
AUD/USD: BEARS LEFT THEIR LAIR 07:21 11.09.2017
Recommendation:
SELL 0.8025
SL 0.808 TP1 0.794
TP2 0.789
On the daily chart, the inability of bulls to push the pair out of the uptrend channel and formation of the bar with a long upper wick points at their weakness. It strengthens the risks of correction at least to 0.7937-0.7954.
On H1, AUD/USD reached the targets of “Widening wedge”, “3 Indians” and 1-2-3. The break of support at 0.8028 and the pair’s leaving the uptrend channel will increase the risks of the pair reaching 88.6% target of the Shark pattern.
More:
https://fbs.com/analytics/articles/aud-usd-bears-left-their-lair-3615
EUR/USD: EURO RETURNED TO 0.2000 07:41 11.09.2017
Technical levels: support – 1.2000, 1.1980; resistance – 1.2075.
Trade recommendations:
Buy — 1.1980; SL — 1.1960; TP1 — 1.2030; TP2 – 1.2075.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Tenkan and Kijun; the prices are on the support of Tenkan-sen and Kijun-sen.
More:
https://fbs.com/analytics/articles/eur-usd-euro-returned-to-0.2000-3618
AUD/USD: AUSSIE LOOKING FOR SUPPORT OF KIJUN 07:42 11.09.2017
Technical levels: support – 0.8030; resistance – 0.8080, 0.8120.
Trade recommendations:
Buy — 0.8030; SL — 0.8010; TP1 — 0.8080; TP3 — 0.8120.
Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising lines; the market is seeking the support on Kijun-sen for continue uptrend.
More:
https://fbs.com/analytics/articles/aud-usd-aussie-looking-for-support-of-kijun-3619
EUR/USD: "V-TOP" LED TO DECLINE 08:29 11.09.2017
We've got a "V-Top", so the price is declining. In this case, we should keep an eye on the nearest support at 1.1978 - 1.1949 as an intraday target. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of the closest resistance at 1.2129.
The 34 Moving Average has acted as support, so the price is consolidating. Therefore, the market is likely going to test the 89 MA in the short term. However, if a pullback from this line happens, we could have another bullish rally towards the next resistance at 1.2080 - 1.2129.
More:
https://fbs.com/analytics/articles/eur-usd-v-top-led-to-decline-3620
GBP/USD: BULLISH "PENNANT" PATTERN 08:36 11.09.2017
Bulls faced with resistance at 1.3223, so the price tested the nearest support at 1.3164. In this case, the pair is likely going to rise in the direction of the next resistance at 1.3249 - 1.3265, which means we could have a new local high pretty soon.
The price is consolidating between the levels 1.3223 - 1.3164. Also, there's a "Pennant" pattern, so the market is likely going to achieve the nearest resistance at 1.3249 - 1.3265 soon. If a pullback from these levels happens, we could have a decline towards the closest support at 1.3164 - 1.3149.
More:
https://fbs.com/analytics/articles/gbp-usd-bullish-pennant-pattern-3622
EUR/USD: PULLBACK FROM 7/8 MM LEVEL 09:05 11.09.2017
There's a pullback from 7/8 MM Level, so wave [i] may have been formed. In this case, we could have a bearish correction in the short term. The main target for wave [ii] is 6/8 MM Level, which could be a departure point for wave [iii].
8/8 MM Level has acted as resistance, so we've got a bearish impulse in wave (a). Also, there's a pullback from 5/8 MM Level, so the price is rising. If a pullback from 7/8 MM Level happens, bears are likely going to deliver wave (c) of [ii].
More:
https://fbs.com/analytics/articles/eur-usd-pullback-from-7-8-mm-level-3624
USD/JPY: BULLISH "MORNING STAR" 10:41 11.09.2017
The price reached the upper "Window", but there isn't any reversal pattern so far. Moreover, there's a possible bullish "Three Methods". So, we could have the price even higher in the short term. If any bearish pattern forms afterwards, there'll be an opportunity to have a decline.
The last bullish "Morning Star" led to the current upward price movement. At the same time, we've got a "Three Methods" pattern, so the pair is likely going to reach the 89 Moving Average during the day.
More:
https://fbs.com/analytics/articles/usd-jpy-bullish-morning-star-3626
EUR/USD: BEARISH "HIGH WAVE" 10:44 11.09.2017
We've got a bearish "High Wave", which has been confirmed. In this case, the market is likely going to test the nearest support. If a pullback from this level happens, there'll be an opportunity to have just another upward price movement.
The 34 Moving Average is acting as support, so we've got a bullish "Hammer" at the local low. However, this pattern doesn't have confirmation, so the price is likely going to continue declining towards the 55 MA.
More:
https://fbs.com/analytics/articles/eur-usd-bearish-high-wave-3627
XAU/USD: GOLD APPROACHED A CRITICAL LINE 07:13 12.09.2017
Recommendation:
SELL $1323
SL $1338
TP1 $1305 TP2 $1282 TP3 $1272
On the daily chart, the inability of the bulls to settle above 161.8% target of AB=CD points at their weakness. A break of support at $1320,4-1321,6 will strengthen the risks of correction to at least the lower border of the uptrend channel.
On H1, further dynamics of the pair will depend on the test of support at $1323. Success will allow bears to develop a move towards 88.6% and 113% targets of the “Shark” pattern. Failure will create grounds for the uptrend resumption.
More:
https://fbs.com/analytics/articles/xau-usd-gold-approached-a-critical-line-3649
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