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Re: Market news and trade recommendations by FBS
#41
USD/CAD: BULLS DECIDED TO COUNTERATTACK
07:32 19.09.2017

Recommendation:

SELL 1.242

SL 1.2475

TP1 1.232 TP2 1.2185

On the daily chart, USD/CAD pulled back after reaching the 200% target of AB=CD. If bulls manage to get to resistance at 1.2310, the road to the upper border of the uptrend channel will be open.

[Image: 1505806169-6088e8d31b2d73dc580e4165ab233..._q90v3.png]

On H1, USD/CAD is forming “Spike with reversal and acceleration”. Without a break of the trendline in the area of 1.2150, resumption of the downtrend is not possible. The inability of bulls to overcome resistance at 1.2340 and 1.2420 will point at their weakness.

[Image: 1505806188-5c726ce87bf89e31cdcfbd4c37b26..._q90v3.png]

More:
https://fbs.com/analytics/articles/usd-c...ttack-3814
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#42
GBP/USD: DEVELOPING "PENNANT" PATTERN
10:49 20.09.2017

[Image: 1505904393-f8c755418f34c1cddbfaec83c9190..._q90v3.png]

There's a "Double Top", which has been confirmed, so the price is consolidating. The main intraday target is the nearest support at 1.3444. If we have a pullback from this level, there'll be an option to have a bullish price movement towards the closest resistance at 1.3652 - 1.3681.

[Image: 1505904393-3030a6ea4fdd0574f5e0029bf1797..._q90v3.png]

The price is consolidating between the levels 1.3479 - 1.3532. Also, there's a developing "Pennant" pattern. In this case, bears are likely going to achieve the 55 Moving Average, which could be a departure point for another bullish rally.

More:
https://fbs.com/analytics/articles/gbp-u...ttern-3855
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