Instaforex Analysis

[IFX Gertrude]

Forecast for EUR/USD on April 20, 2020

EUR/USD
The euro did not dare to make any noticeable decline last Friday, moreover, it even grew by 35 points by preceding to pierce the signal level for selling 1.0830. Now this signal level is moving lower - to the Friday low at the 1.0812 level, overcoming the price opens the way to support the embedded line of the price channel in the region of 1.0610.



The overall situation of a decline persists on the four-hour chart. The price is developing under both indicator lines - under the line of balance (red) and MACD (blue), the Marlin oscillator in the territory of negative values.

The price increase is limited by the resistance of the MACD line at around 1.0920.



*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided byInstaForex.

[IFX Gertrude]

Forecast for EUR/USD for April, 21, 2020

EUR/USD

Oil and US stock indices fell on Monday. Investors again felt fear and continued to buy up the dollar as a safe haven currency. And although the euro fell by only nine points yesterday, fears and uncertainty will continue to dominate the markets for several more days.



The picture remained unchanged on the daily chart - the price is under the indicator lines of balance and MACD, the Marlin oscillator moves horizontally in the negative trend zone. The 1.0610 target for supporting the embedded price channel line of a higher timeframe is maintained.



The situation is also unchanged on the four-hour chart, with the only difference being that the indicator lines have started to go down, which strengthened the potential for decline. The final condition for the price to move to 1.0610 will be for the price to overcome Friday's low at 1.0812. Accordingly, short positions can be opened from this level.

An alternative short-term scenario suggests another branch of price growth to the MACD line on the H4 towards the area of 1.0930.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided byInstaForex.

[IFX Gertrude]

Forecast for EUR/USD on April 22, 2020

EUR/USD
There were no changes on the daily euro chart over the past day - the daily fluctuation was 60 points, but the day nearly closed at the opening level. The signal line of the Marlin oscillator moves strictly horizontally in the negative trend zone. The general trend is decreasing, we expect the euro to decline to support the embedded line of the price channel in the region of 1.0610.



The signal line of the Marlin oscillator rose to the border of the growth territory on the four-hour chart over the past day, but the price stopped by the balance indicator line. Therefore, in the current situation, the growth of Marlin is considered as the indicator continuing to discharge before a further decrease.



Nevertheless, the probability of the oscillator moving into a zone of positive values creates a risk of a price increase, possibly even to the MACD line, to the 1.0928 area. A signal of the euro's decisive decline is when the price drops below the low of the 17th (1.0812).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided byInstaForex.

[IFX Gertrude]

Forecast for AUD/USD on April 23, 2020

AUD/USD The Australian dollar did not consolidate below the MACD indicator line on the daily chart on Wednesday, which delayed the start of the medium-term decline by another 1-2 days. The aussie grew by 42 points. Currently, the price lies on the MACD line, accumulating forces to break through, but growth is possible during this time of consolidation, even to the price channel line in the region of 0.6525, since the price is still above both indicator lines and the Marlin oscillator, albeit falling, remains in the growth zone. Formally, the trend is rising.



When the price overcomes the signal level of 0.6255, this will be a reliable condition for the medium-term decline while aiming for 0.5798 and below. The setup is falling on the H4 chart - the price is below the adaptive balance line (red). The Marlin oscillator could reverse from the boundary of the growth territory. A convergence on Marlin that is not that strong can be worked out.



It is advised to skip the possible price increase, since the reversal can occur from any nearest resistance (0.6380, 0.6446), open sales when the price goes below the signal level of 0.6255.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided byInstaForex.

[IFX Gertrude]

Hot forecast and trading signals for GBP/USD pair on April 24

GBP/USD H1.



On the hourly chart, the pound/dollar pair is trading downward on April 24. The downward movement of quotes is supported by a strong downward trend line, which has at least 6 pivot points. The last time the pair's quotes rebound from it was yesterday. At the same time, there is a second trend line – an ascending one, which also has 6 pivot points at once and, accordingly, is also quite strong. Thus, the pound is currently fixed in a kind of triangle, leaving which will determine the further short-term trend of the pair. On the other hand, the statistics from the UK this week were generally as disastrous as those in other countries. The only report that could provoke the strengthening of the pound was the applications for unemployment benefits in March, which caused its fall. But all the other reports, including yesterday's business activity, most likely stop the bulls from buying pounds or close short positions on the US dollar. And if this is true, then the bears are activated either today or at the beginning of next week. As for the EUR/USD pair, we recommend that you pay attention to the report on long-term use orders in the States at the American trading session. If traders suddenly stop ignoring important statistics, then the bulls will be able to take advantage of the opportunities provided and continue to buy the pair with renewed strength. In any case, we have an ideal picture of the pound / dollar pair in terms of beauty and accuracy, which we assume two trading ideas for April 24:

1) Bears need to consolidate below the upward trend line in order to continue the downward movement. This will break the short-term bullish trend and keep the longer-term bearish current. In this case, we recommend selling the pound in order to support the 4-hour timeframe 1.2276. Thus, Take Profit can be around 72 points.

2) As long as the bulls are located above the upward trend line,the bullish trend persists in terms of intraday. Thus, the GBP/USD pair has even a growth potential to the level of 1.2395. However, no one knows how many more times the pair will push off from the upward trend line, so it is quite dangerous to trade for an increase right now. We believe that it is better to wait for the downward trend line to be broken, which will definitely be a strong signal to buy with the goal of the Senkou span B line of the 4-hour timeframe, which runs approximately at the level of 1.2467. Thus, the possible Take Profit for long positions is 68 points.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided byInstaForex.

[IFX Gertrude]

Technical Analysis of ETH/USD for 27/04/2020:



Crypto Industry News:

The Dutch crypto savings platform, Bittr, decided to close its operations before the Netherlands introduced EU anti-money laundering regulations, AMLD5. The closing of Bittr is the result of open criticism of AMLD5 in the Netherlands, where according to all information they result in cryptographic companies paying higher fees than companies offering credit cards and traditional trusts. Bittr founder Ruben Waterman announced that the platform will close on April 28.

Waterman does not agree to being forced to collect confidential data identifying his clients. While Waterman says he was willing to make some of the changes commissioned by AMLD5, he also claims that his company does not have the resources to manage the documentation or the resources to hire a clerk to handle the case. It is worth adding that Bittr is a one-man operation.

While the AMLD5 was intended to increase regulatory transparency at the regional level, by introducing a unified AML framework, various laws at the national level led to unique interpretations of AMLD5 in different jurisdictions.

The new guidelines require approximately 50 crypto companies based in the Netherlands to pay central bank supervision fees of approximately $ 1.8 million, and the costs be allocated according to the turnover of each company's virtual currency.

Technical Market Outlook:

The ETH/USD bulls has managed to push the price towards the level of $198, which is very close to the key short-term resistance level. The rate is moving inside of a Falling Wedge pattern, so any violation of the level of $193.78 will likely result in a further sell-off towards the level of $188.86 and below. There is a clear bearish divergence between the price and momentum indicator that supports the short-term bearish outlook.

Weekly Pivot Points:
WR3 - $243.80
WR2 - $220.39
WR1 - $211.16
Weekly Pivot - $187.55
WS1 - $172.98
WS2 - $155.34 WS3 - $144.09

Trading Recommendations:
The fear of the coronavirus consequences is very strong among the global investors and it rules on the financial markets. So far the global investors are not so keen to invest in cryptocurrency, because they are being perceived as risky assets. The larger time frame trend on Ethereum remains down and as long as the level of $214.67 is not violated, all rallies will be treated as a counter-trend corrective moves. This is why the short positions are now more preferred.

Analysis are provided byInstaForex.

[IFX Gertrude]

Technical Analysis of ETH/USD for 28/04/2020:



Crypto Industry News:
EthereumPrice.org has released a new tool to calculate how much ETH can be earned by stacking coins under the new network consensus model. The Ethereum 2.0 calculator has many configurable settings that simulate different conditions and stacking variables. Users can customize many network (variable) settings that have a big impact on how the reward is calculated.

For example, a change in the size of ETHs stacked in the network from 1% to 10% means a difference in earnings between 5% or 15% (each year). Another factor that will affect the award on an annual basis is, for example, the lifetime of the node (validator) itself.

The tool calculates potential profits from 10 years of ETH stacking as well as each year. It will also calculate ROI (return on investment) in a given time. To view the value of their bid, users can choose from many fiat functional currencies, ETH in USD, EUR, GBP, JPY and others.

The calculator is currently in public beta. The current interface should be treated more as an educational device than a means for practical calculations. However, this gives an idea of how important staking will become part of the 'new Ethereum' ecosystem. Technical Market Outlook:

The ETH/USD bears has pushed the price out of the Falling Wedge pattern and Ethereum made a new local low at the level of $188.86. There is a clear bearish divergence between the price and momentum indicator that supports the short-term bearish outlook, so the level of $188.86 might not be the target level and the ETH/USD rate can drop even further towards the next target at $178.25. The key short-term technical resistance is still located at the level of $198.72 and only a clear breakout above this level will open the road towards the $209.09 target.

Weekly Pivot Points:
WR3 - $243.80
WR2 - $220.39
WR1 - $211.16
Weekly Pivot - $187.55
WS1 - $172.98
WS2 - $155.34
WS3 - $144.09

Trading Recommendations:
The fear of the coronavirus consequences is very strong among the global investors and it rules on the financial markets. So far the global investors are not so keen to invest in cryptocurrency, because they are being perceived as risky assets. The larger time frame trend on Ethereum remains down and as long as the level of $214.67 is not violated, all rallies will be treated as a counter-trend corrective moves. This is why the short positions are now more preferred.

Analysis are provided byInstaForex.

[IFX Gertrude]

Technical Analysis of EUR/USD for 29/04/2020:



Technical Market Outlook:
The EUR/USD pair has hit the key short-term resistance located at the level of 1.0878. So far the bulls were able to make a new local high at the level of 1.0849 and they are under the bearish pressure again. The price was rejected from the level of 1.0878 and a Bearish Engulfing candlestick pattern was made at the end of the move. The momentum is still strong and positive, but the market conditions are overbought, so the odds for another dynamic wave up are decreasing. The nearest technical support is seen at the level of 1.0809.

Weekly Pivot Points:
WR3 - 1.1057
WR2 - 1.0976
WR1 - 1.0895
Weekly Pivot - 1.0809
WS1 - 1.0731
WS2 - 1.0641
WS3 - 1.0563

Trading Recommendations:
The fear of the coronavirus consequences is very strong among the global investors and it rules on the financial markets. ON the EUR/USD pair the main trend is down, but the reversal is possible when the coronavirus pandemic will be tamed. The key long-term technical support is seen at the level of 1.0336 and the key long-term technical resistance is seen at the level of 1.1540. Only if one of this levels is clearly violated, the main trend might reverse (1.1540) or accelerate (1.0336).

Analysis are provided byInstaForex.

[IFX Gertrude]

Technical Analysis of ETH/USD for 30/04/2020:



Crypto Industry News:
The China Office of the Central Commission for Cyberspace Affairs (OCCAC) has announced blockchain projects that will receive the approval of national regulatory authorities. 224 projects in this technology have been added to the committee register, including large technology companies such as Alibaba, Baidu and China Mobile.

The list of approved projects includes the ventures of several large corporations, including Walmart China, whose food safety tracking initiative has been marked green, and companies involved in the development of state-supported blockchain networks, such as China Mobile, China Merchants Bank and Alibaba. Some entities have been allowed to implement many DLT projects, and five blockchain projects from China Merchants Bank have already received approval.

On April 25, China announced the commercial launch of the long-awaited Blockchain Service Network (BSN). The Chinese government announced over 2,000 BSN-based programs in the six months prior to the beta release in October 2019, including applications to support social assistance distribution, goods tracking and digital invoicing. On April 20, the city of Ya'an in Sichuan issued a statement supporting the directing of local hydropower to cryptocurrency mining operations, announcing plans to build the so-called Demonstration zones for hydropower consumption.

Technical Market Outlook:
The ETH/USD has been rallying for the last 36h straight as all the technical resistance levels has been violated. The next target for bulls is seen at the level of $235.42, but please notice, that the market conditions are extremely overbought. The nearest technical support is located at the level of $214.67, $212.48 and $209.89. The bulls are in full control of the market.

Weekly Pivot Points:
WR3 - $243.80
WR2 - $220.39
WR1 - $211.16
Weekly Pivot - $187.55
WS1 - $172.98
WS2 - $155.34
WS3 - $144.09

Trading Recommendations:
The fear of the coronavirus consequences is very strong among the global investors and it rules on the financial markets. So far the global investors are not so keen to invest in cryptocurrency, because they are being perceived as risky assets. The larger time frame trend on Ethereum remains down and as long as the level of $214.67 is not violated, all rallies will be treated as a counter-trend corrective moves. This is why the short positions are now more preferred.

Analysis are provided byInstaForex.

[IFX Gertrude]

Forecast for GBP/USD on May 4, 2020

GBP/USD
The British pound lost 100 points on Friday, which strengthened the reversal potential and the convergence power of the Marlin oscillator on the daily chart.



To completely form conditions for the price to go down, it is necessary to gain a foothold under the MACD line (1.2365), while the Marlin signal line must go into the zone of negative values.



Marlin is already in the decreasing trend zone on the four-hour chart, the price should overcome the support of the MACD line (1.2405). The support of the MACD line of the daily scope runs a little lower, in the region of 1.2365, therefore, the 1.2365-1.2405 range is transitional, it is possible to consolidate in this range.

An attempt to move the price under technical support may occur after a preliminary increase to 1.2540 or slightly lower without breaking convergence on a daily basis. The current situation is not defined under any scenario, the price can freely wander in the range of 1.2365-1.2540.

Analysis are provided byInstaForex.