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[IFX Gertrude]

Forex Analysis & Reviews: Forecast for EUR/USD on January 28, 2021

EUR/USD Yesterday, the euro's situation developed according to our main scenario without a false upward surge. And the euro was pushed to this scenario by a member of the European Central Bank's governing council, Klaas Knot, by announcing the possibility of lowering the rate to increase inflation. The business media did not believe Knot, because no one doubts the growth of inflation without the influence of the changed rates due to the continuing pumping of markets with unsecured liquidity. Most likely, the ECB is simply trying to hint about the high rate of the euro. One way or another, but the investors reacted unequivocally - they began to sell the euro. Federal Reserve Chairman Jerome Powell spoke in an optimistic vein regarding the prospects for the economy. He said that the economy has proved to be very resilient to blackouts, it will grow in the second half of the year, and the asset buyback program will continue "as long as necessary" and investors will be warned in advance about the central bank's intention to begin its reduction. This time investors correctly understood Powell's words - if the economy is doing well, then the Fed will issue a "warning" in the foreseeable future. Fourth quarter US GDP, trade balance and new home sales are due today. All indicators are expected to grow.



The price stopped at the MACD indicator line on the daily chart. If the price moves below it, under yesterday's low (1.2058), the target opens at 1.1915 - the peak of four local highs: November 9, September 10, August 6, July 31.



The price settled below the MACD line on the four-hour chart, the Marlin oscillator is declining. We are waiting for the price to overcome the signal level of 1.2058 and the succeeding fall of the EUR/USD pair.

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[IFX Gertrude]

Forex Analysis & Reviews: Forecast for EUR/USD on January 29, 2021

EUR/USD
Yesterday, the euro slightly corrected after the hype of Wednesday's fall, supported by the MACD line on the daily chart. Yesterday's growth was offset by a decline in today's Asian session. It looks like the euro is going to attack the support of the MACD line at 1.2077. Getting the price to settle below this line will further strengthen the euro's decline to the target range of 1.1870-1.1915. Interim target of 1.1980.



The price is breaking the support of the MACD line on the four-hour chart. Ahead of it there is a range of support at 1.2058/77, leaving it will become a signal to reach the nearest target of 1.1980.



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[IFX Gertrude]

Forex Analysis & Reviews: Forecast for EUR/USD on February 1, 2021

EUR/USD
The euro traded in a limited range last Friday, as it did on Thursday, staying between the MACD indicator line (1.2080) and the reference level of 1.2177 on the daily chart. Here we see that at the moment the Marlin oscillator's indicator line is slightly increasing, which will make it possible for the price to continue consolidating for at least another day. The euro will accelerate its decline only when the price goes under the MACD line, below 1.2080. The first target is 1.1980, then the range is 1.1870-1.1915.



The price is also developing above the MACD indicator line on the four-hour chart. The 1.2080 level coincides with the lows of January 28 and 20, which makes it more significant. The Marlin oscillator is growing, reaching the border of the territory of positive values. The sideways movement of the euro is likely to continue today.



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[IFX Gertrude]

Forex Analysis & Reviews: Forecast for EUR/USD on February 2, 2021

EUR/USD
Yesterday, the euro finally decided to overcome the support of the MACD indicator line. The euro fell by 75 points. Now the 1.1980 target is open. The 1.1870-1.1915 range, which is the second target, is just below it. A weak risk of such a decline is seen in the initial stage when forming a price convergence with the Marlin oscillator. But this is still an alternative to today's scenario.



The situation is completely decreasing on the four-hour chart; the price is below the balance and MACD indicator lines, while the Marlin oscillator is in the zone of negative values, there is no convergence according to Marlin. Since the price surpassed yesterday's low (1.2056), we are waiting for it to move to the first target of 1.1980.



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[IFX Gertrude]

Forex Analysis & Reviews: Forecast for EUR/USD on February 3, 2021

EUR/USD
Yesterday, the euro settled below the MACD indicator line on the daily chart. This suggests that now the road to a medium-term decline with the 1.1760 target and, probably, below, in the target range of 1.1550/75 is open. The goals are still to be specified.



But at the moment there is a circumstance that can disrupt the plan to pull down the price to the nearest targets: 1.1980 and 1.1915. This is a sign of the price convergence with the Marlin oscillator. If this convergence is completed and it turns out to be strong, the price will be able to return to the area above the MACD line and then a new downward momentum will be carried over for several more days. In the meantime, the correction is limited by the resistance of the MACD line at 1.2083.



There are no clear reversal signs on the 4-hour chart. The Marlin oscillator is growing in a downward trend zone. The price and the oscillator are growing within a moderate correction. The main scenario - the imminent end of the correction and the price falling to the first target of 1.1980 and to the second target at 1.1915 has higher chances, about 70%.

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[IFX Gertrude]

Forex Analysis & Reviews: Technical Analysis of GBP/USD for February 4, 2021



Technical Market Outlook:
The bearish pressure on GBP/USD has increased and the market has broke below the technical support located at the level of 1.3608. This level will now act as an intraday technical resistance. The local low was made at the level of 1.3586, so the next target for them is the intraday technical support located at the level of 1.3519. The market is coming off the overbought conditions and the momentum is weak and negative, pointing down. The key mid - term technical support is seen at the level of 1.3428, but please pay attention to any breakout below the trend line support around the level of 1.3500 first. This might be the first indication of a potential move lower.

Weekly Pivot Points:
WR3 - 1.4011
WR2 - 1.3877
WR1 - 1.3788
Weekly Pivot - 1.3646
WS1 - 1.3564
WS2 - 1.3416
WS3 - 1.3342

Trading Recommendations:
The GBP/USD pair keeps developing the up trend and the trigger for this trend was the breakout above the level or 1.3518 on the weekly time frame chart. The recent top was made at the level of 1.3744 and this was the higher close in over two years. All the local corrections should be used to open a buy orders as long as the level of 1.2674 is not broken. The long-term target for bulls is seen at the level of 1.4370.

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[IFX Gertrude]

Forex Analysis & Reviews: Forecasts for GBP/USD on February 5, 2021

GBP/USD
The Bank of England kept its monetary policy at yesterday's meeting, but announced that it does not consider negative rates as a mandatory instrument and will not introduce them without warning at least six months in advance. The verbal attack was successful, the pound jumped 130 points from the day's low, closing the day by 27 points. This morning, inertial growth continues, but it is unlikely to be significant, as in the evening US employment data and forecasts for them are optimistic: the growth of jobs in the non-agricultural sector is expected to 50,000 after December - 140,000. The Marlin oscillator continues to move sideways on the daily chart. The task is the same - to gain a foothold below the 1.3648 level, in order to calmly go to 1.3550 and 1.3500.



The price went above the MACD line on the four-hour chart this morning, while Marlin is in the growth zone. The price may rise to the local high of 1.3710 before the release of US statistics.



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[IFX Gertrude]

Forex Analysis & Reviews: Forecast for AUD/USD on February 8, 2021

AUD / USD
The Australian dollar rose by 77 points last Friday, breaking the level of 0.7641. Now, you should wait for the price to go back under this level so that you can start selling again. Today, the important macroeconomic data are not released, and the weakened indicators on the trade balance in Germany are expected tomorrow, which can move European currencies going down even more and along with them the "Australian" will weaken.



As we can see on the daily chart, the signal line of the Marlin oscillator has almost reached the upper limit of its own descending channel, and here the indicator may linger.



Based on the four-hour chart, the price is fixed above the indicator lines of the balance and the Kruzenshtern line. The Marlin is at the top but it is turning slightly. It is quite possible that the AUD/USD pair will have enough potential to stay here for a day.

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[IFX Gertrude]

Forex Analysis & Reviews: Forecast for AUD/USD on February 9, 2021

AUD / USD
On the back of yesterday's pronounced increase in risk appetites given by the large-scale growth of cryptocurrencies - the value of this market for the day increased by 143 billion dollars, which led by bitcoin with a trading volume of 120 billion dollars, and the total capitalization of this market yesterday was 1.316 trillion dollars. Dollars, increased to 1.363 trillion, which strongly affected the market of real national currencies and stock markets: the Australian dollar rose by 26 points, the S & P500 added 0.74%.



As we can see on the daily chart, the signal line of the Marlin oscillator has left the descending channel up and is currently preparing to enter the zone of positive values. The price itself went to the target range of 0.7765 / 83 (defined by the peaks of January 21 and 13), after which it can go to storm the January high of January 6, the target of which is slightly higher - 0.7830.



Based on a four-hour scale, the situation is completely growing: the price rises above the indicator lines, the Marlin oscillator rises without signs of a reversal. So, the nearest target of the Australian dollar is 0.7765/83.

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[IFX Gertrude]

Forex Analysis & Reviews: Forecast for AUD/USD on February 10, 2021

AUD / USD
Yesterday, the Australian dollar rose by 36 points. There is still much time left to go to work out the target range of 0.7765 / 83. Thus, it is already becoming much more difficult for the "Australian". The Marlin oscillator outlines a reversal from the border with the territory of growth. The price can work out the target range with a declining oscillator, but the growth should slow down, respectively, the goal will be reached only tomorrow.



Based on the four-hour chart, the Marlin is not pronounced but it is only discharged perhaps before the further growth. But be that as it may, the time for purchases is not suitable, it is only possible to hold previously opened positions.



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