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Thread: ForexPeoples Daily Technical Analysis for The Majors (4 Pair Forex)

  1. #5001
    riki143 is offline Senior Member
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    GBP/USD: BEARS WANT TO CONTINUE THE FEAST
    06:45 25.10.2017

    Recommendation:

    SELL 1.3100

    SL 1.3155

    TP1 1.3 TP2 1.271

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



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



    More:
    https://fbs.com/analytics/articles/g...the-feast-4618

  2. #5002
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    EUR/USD: "THORN" PATTERN
    08:02 25.10.2017



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



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

    More:
    https://fbs.com/analytics/articles/e...n-pattern-4621

  3. #5003
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    GBP/USD: BEARISH "PENNANT"
    08:05 25.10.2017



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



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

    More:
    https://fbs.com/analytics/articles/g...h-pennant-4622

  4. #5004
    riki143 is offline Senior Member
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    EUR/USD: 21 & 34 MA ACTING AS RESISTANCE
    12:22 25.10.2017



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



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

    More:
    https://fbs.com/analytics/articles/e...esistance-4634

  5. #5005
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    USD/JPY: BULLISH "THREE METHODS" PATTERN
    12:25 25.10.2017



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



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

    More:
    https://fbs.com/analytics/articles/u...s-pattern-4635

  6. #5006
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    EUR/USD: POSSIBLE DOUBLE ZIGZAG IN WAVE [II]
    12:41 25.10.2017



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



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

    More:
    https://fbs.com/analytics/articles/e...n-wave-ii-4636

  7. #5007
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    EUR/JPY IS GOING NORTH
    07:12 26.10.2017

    Recommendation:

    BUY 133.25 SL 132.7

    TP1 134.25 TP2 136

    BUY 134.5 SL 133.95 TP 136

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



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



    More:
    https://fbs.com/analytics/articles/e...ing-north-4652

  8. #5008
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    USD/JPY: SHARKS ARE CHASING THE YEN
    07:19 26.10.2017

    Recommendation:

    BUY 112.5 SL 111.95 TP1 113.5 TP2 114.3 TP3 115.3

    BUY 114.25 SL 113.7 TP1 115.3

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



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



    More:
    https://fbs.com/analytics/articles/u...g-the-yen-4653

  9. #5009
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    EUR/USD: PRICE GOING TO TEST NEXT SUPPORT
    08:59 26.10.2017



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



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

    More:
    https://fbs.com/analytics/articles/e...t-support-4660

  10. #5010
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    GBP/USD: "DOUBLE BOTTOM" PATTERN
    09:02 26.10.2017



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



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

    More:
    https://fbs.com/analytics/articles/g...m-pattern-4661

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