Instaforex Analysis

[IFX Gertrude]

Control zones for USDCAD on 04/06/20

The pair has formed an accumulation zone over the past five days. The boundaries that will hinder further movement are the extremes of the previous week. The upper reference point is the weekly CZ 1.4350-1.4319. Support is the weekly control zones of 1.4037-1.4007. Tests of the specified zones should be perceived as an opportunity to search for deals inside the range.



Work within the framework of the flat involves inputs and outputs at its boundaries so that transactions will be limited to the range.

To exit the flat, you will need to consolidate the pair above one of the weekly control zone positions during the US session. This will allow you to change the trading style to an impulsive one. Closing trades above 1.4350 will allow you to consider medium-term purchases, while a consolidation below 1.4007 will indicate the beginning of a change in the medium-term momentum to a bearish one.



Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

Analysis are provided byInstaForex.

[IFX Gertrude]

Technical Analysis of EUR/USD for 07/04/2020:



Technical Market Outlook:
The EUR/USD pair has hit the technical support at the level of 1.0767 and is trying to bounce higher. The current price action acts as there is a Double Bottom pattern made around the support, so the odds for a rally are quite high. The first obstacle is the technical resistance located at the level of 1.0888, but the oversold market conditions on H4 time frame chart might be helpful to the bulls. If they manage to break through this level, then in the same time, they will break out of the descending channel, and this should accelerate the rally towards the level of 1.0951. On the other hand, a failure to break out will likely result in deepening the move down and new local lows will be made. The next technical support is seen at the bottom of the swing at 1.0654 and 1.0635.

Weekly Pivot Points:
WR3 - 1.1359
WR2 - 1.1244
WR1 - 1.0981
Weekly Pivot - 1.0872
WS1 - 1.0612
WS2 - 1.0487
WS3 - 1.0228

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 08/04/2020:

Crypto Industry News:

A new PricewaterhouseCoopers (PwC) report showed that fundraising and cryptography mergers and acquisitions (M&A) fell last year, but that doesn't mean the cryptographic market is dying out.

It seems that the cryptographic industry cannot attract investment from institutional investors. The giant of professional PwC services said that the number and value of fundraising as well as mergers and acquisitions showed a sharp decline last year. Cryptography-related mergers and acquisitions dropped by 76% to $ 451 million in 2019, from over $ 1.9 billion in the previous year. The amount of funds raised decreased by 40% to USD 2.24 billion.

Cryptocurrency space could not attract mainstream investment, despite the fact that Bitcoin grew strongly in the second and third quarters of 2019. In July, the price reached a peak of over $ 13,500.

Given the current COVID pandemic, the report's authors argue that the cryptocurrency market will not attract mainstream investment in the near future. High volatility due to coronavirus panic and the economic downturn does not bode well for the space being created. It seems that the cryptographic industry is not resistant to global winds, and the number and value of fundraising and merger transactions can be affected in 2020.

Technical Market Outlook:
The ETH/USD high located at the level of $175.00 is still an important target for bulls that are still trying to make use of the momentum behind the recent move up and move higher towards the level of $176.78, which is a technical resistance for the price. On the other hand, if the bulls fail here, (there is a Bearish Engulfing candlestick pattern present on H4 time frame chart), then the next taechnical support is seen at the level of $156.24 - $153.46. Please notice the increasing momentum on ETH/USD on H4 time frame chart during the last move up.

Weekly Pivot Points:
WR3 - $180.45
WR2 - $163.97
WR1 - $154.32
Weekly Pivot - $137.76
WS1 - $127.39
WS2 - $112.43
WS3 - $101.19

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 AUD/USD on April 9, 2020

AUD / USD
The Australian dollar reached its upper target of 0.6249 (February 2009 low) yesterday. Now, the question is: will it turn into a medium-term decline today, or mark the MACD line on the daily time frame (0.6354). The Marlin oscillator indicates a reversal, but it does not stop the price from rising by another hundred points.



On the four-hour chart, there is a sign that an extended divergence on the Marlin oscillator is forming. The signal is twofold; on the one hand, it indicates the intention of the price to move downwards from the current levels, on the other, the divergence may dissolve in the continued growth of the indicator itself.



A clear signal of a trend reversal will be the price overcoming the support of the MACD line at around 0.6090.

So, with the price breaking the signal level of 0.6090, it is recommended to open short positions with a goal before 0.5820 and stop loss above 0.6115.

Analysis are provided byInstaForex.

[IFX Gertrude]

Forecast for AUD/USD on April 10, 2020

AUD/USD
The Australian dollar rose by 109 points on Thursday, halting growth before the MACD line on the daily scale chart. The price could turn down from the current levels, maybe a little later, with preliminary testing of the embedded line of the price channel at the level of 0.6400.



The condition for a reversal is that the price goes under the price channel line at 0.6185, and the movement is aimed at the trend line of 0.5815.



The Marlin oscillator forms a downward turn on the four-hour chart. The signal level of 0.6185 of the higher timeframe coincides with the April 1 peak (tick) and with the support of the MACD line, where it can be in a day, that is, on Monday morning.

Analysis are provided byInstaForex.

[IFX Gertrude]

Forecast for EUR/USD on April 13, 2020

EUR/USD
The euro made minor fluctuations before the resistance of the embedded line of the downward price channel on Friday, as the markets in Europe and the United States were closed. The signal line of the Marlin oscillator unfolds from the border with the growth territory. A synchronous downward reversal of the price and the indicator is possible.



Marlin turned lower on the four-hour chart. A stable condition for the euro's fall is when the price leaves the area below the MACD line in 1.0840. In this case, the target of the movement is the lower line of the price channel at 1.0615 (daily).



But until the signal level has been overcome, the price can still make a false puncture of the upper line of the price channel by testing the November 2019 low (1.0980), or the MACD line on the daily (blue indicator) in the area of 1.0990.

*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 14, 2020

EUR/USD The euro fell by 22 points on Monday, rebounding from the blue line of the price channel on the daily chart. The leading indicator Marlin is in no hurry to turn around, holding on to the border with the territory of growth. This may be a sign of another small upward movement before the medium-term drop. The MACD line in the region of 1.0980 or slightly higher can be tested.



On the four-hour chart, the price develops above the indicator lines of balance and MACD, the signal line of the Marlin oscillator is confidently decreasing here, but has yet to leave the growth zone, which in total does not cancel the option with the final price increase. The situation will change abruptly to a downward trend with the price moving under the MACD line at 1.0860. The 1.0615 target will open – the embedded lower line of the price channel on the daily chart.



*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 15, 2020

EUR/USD
On Tuesday, the euro worked out an option with a push to the MACD line on the daily chart, but the market is starting to seriously try to move to the target of 1.1175 on the nested price channel line. This scenario will begin to be implemented with the release of prices above the MACD line, that is, above 1.1000. The signal line of the Marlin oscillator has entered the territory of a growing trend.



The price is rising on a four-hour chart, and it is above the balance and MACD line, while Marlin turned up before the division of trends.



The market still has a chance of a price reversal and a medium-term fall in the euro, but for this to happen, the price needs to consolidate under the MACD line, below 1.0890.

Thus, with the price above 1.1000, purchases with a take profit below 1.1175 and stop loss below 1.0950 (under the line of the price channel) can be opened. Sales, in turn, can be opened with withdrawal prices below 1.0890.

*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 16, 2020

EUR/USD
The euro did not do anything unnecessary, nor did it make any false movements on Wednesday, turning down exactly from the MACD line on the daily chart. Simultaneously with the price reversal, the signal line of the Marlin oscillator turned down from the border of the growth territory (the exit above the zero line was insignificant, which can not even be called false). Now the euro's target is the embedded price channel line around 1.0610.



This morning, the price retreated under the balance and MACD indicator lines on the four-hour chart, the Marlin oscillator has consolidated on the declining trend zone. We are expecting the price to fall to the designated goal.



*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 17, 2020

EUR/USD
The euro continued its planned decline from a technical point of view on Thursday. Losses amounted to 70 points as investors withdrew to a safe dollar, since the latest data on new weekly applications for unemployment benefits reached 5.245 million and bookmarks of new homes fell to 2.22 million in March against the expectation of 1.31 million. In addition, the business index activity in the manufacturing sector of Philadelphia fell from -12.7 to -56.6 in April, to a record since August 1980.



The price is decreasing under the balance and MACD indicator lines on the daily scale chart, and the Marlin oscillator is fixed in the decline zone. We expect the euro to support the embedded price channel line around 1.0610.



The price is also under the balance and MACD lines on the four-hour chart, Marlin is in the negative trend territory.

The signal level for opening sales is the April 8 low at a price of 1.0830. Stop loss at 1.0880, take profit before 1.0610. Intermediate goal of 1.0768.

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

Analysis are provided byInstaForex.