Instaforex Analysis

Forex broker related topics and discussions

Re: Instaforex Analysis

Postby IFX Gertrude » Wed Apr 13, 2022 2:01 am

Forex Analysis & Reviews: Trading plan for EURUSD for April 13, 2022

Image

Technical outlook:
EURUSD prints yet another higher low around 1.0811 mark during the early Asian session on Wednesday. The single currency pair remained shy by just five pips from testing the previous swing low at 1.0806. It is seen to be trading around 1.0833 level at this point in writing and a push through 1.0910 could confirm a bottom in place.

EURUSD has shown quite resilience as bulls defended 1.0806 swing low. If a potential bottom is in place at 1.0811, price would continue higher and break above 1.0910-20 initial resistance. On the flip side, it 1.0806 breaks down, bears might print a shallow low before bulls are back in control. Both scenarios present a bullish picture over medium term.

EURUSD is already producing a bullish divergence on the daily RSI as prices remained just five pips away from printing fresh lows below 1.0806 mark. The divergence is not shown here but it is a potential trend reversal indicator going forward. It would be interesting to see a break above 1.0910-20 mark as the day progresses.

Trading plan:
Potential rally towards 1.1500 against 1.0700
Good luck!

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 4520
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Thu Apr 14, 2022 1:55 am

Forex Analysis & Reviews: Forecast for EUR/USD on April 14, 2022

Yesterday we overestimated the possibilities of the dollar, the breakdown of support at 1.0820 did not happen. It may seem that investors took no action ahead of today's European Central Bank meeting and decided to keep the euro in the range of 1.0820-1.0945, but in fact there was a reaction to the general weakening of the dollar, which received a boost from sharply falling US government bond yields on Tuesday and Wednesday. Yields on 2-year securities have been declining since Monday, during this time it fell from 2.54% to 2.27%, and yesterday the dollar slightly correlated. By this action, the market makes it clear that the euro exchange rate in the current situation is more dependent on the policy of the Federal Reserve than on the policy of the ECB. And if the market's expectations regarding the June ECB rate hike justifies, the euro definitely has no reason to rise. In the best case, the price will linger a little more in the range of 1.0820-1.0945. This is our main scenario.

Image

If there are problems with the main scenario, the price settles above 1.0945, then the euro is likely to rise to 1.1085 - to the Fibonacci channel line (daily), in the area of the MACD indicator line (blue). At the same time, price convergence with the Marlin Oscillator will finally form. We see no reason for such activity of speculators 2.5 weeks before the Fed rate hike by 0.50 points.

Image

Convergence is also forming on the four-hour chart; it can be taken as already formed, since the signal line of the Marlin Oscillator is in the positive area. The convergence potential is enough to bring the price to the resistance area of the price level 1.0945 and the MACD line.

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 4520
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Fri Apr 15, 2022 1:39 am

Forex Analysis & Reviews: Forecast for EUR/USD on April 15, 2022

Yesterday's European Central Bank meeting turned out to be softer than expected. Despite rising inflation, the central bank gave a hint of a rate hike only in the fourth quarter, as the overall economic situation in Europe is not in the best way. Likewise, the anti-COVID agenda remains alarming. The euro closed the day down 54 points. This morning the price is trying again to go under the support level of 1.0820, obviously consolidating below it. The Marlin Oscillator slightly turned down. If the price settles below 1.0820, we are waiting for the price in the target range of 1.0636/70.

Image

On the four-hour chart, the price reversed down exactly from the resistance of the MACD indicator line. This suggests that the short-term exit of the price above the red balance line was false, one might say, erroneous for a group of bullish players, since the price was developing all the time in a medium-term downward trend - below the MACD line. At the moment, the price has already settled below the balance line and may soon settle below the level of 1.0820. The Marlin Oscillator returned to the territory of the downward trend.

Image

Today the markets of Europe and the US are closed for the Catholic Easter, on Monday Europe continues to rest, while the US has already gone back to work. We are waiting for the main events on Monday-Tuesday.

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 4520
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Mon Apr 18, 2022 2:10 am

Forex Analysis & Reviews: ETHUSD, Bullish Bounce | 18th April 2022

Image

On the H4, we see the price is near pivot level. Price can potentially bounce from 1st support level of 2955.24 in line with the 61.8% Fibonacci projection and 61.8% Fibonacci retracement towards the 1st resistance level of 3083.99 in line with 78.6% Fibonacci projection. Alternatively, price may break through key support structure and head for our 2nd support level of 2835.69 in line with 78.6% Fibonacci projection.

Trading Recommendation
Entry: 2955.24
Reason for Entry:
61.8% Fibonacci projection and 61.8% Fibonacci retracement.
Take Profit: 3083.99
Reason for Take Profit:78.6% Fibonacci projection.
Stop Loss: 2835.69
Reason for Stop Loss:
78.6% Fibonacci projection.

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 4520
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Tue Apr 19, 2022 2:42 am

Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for April 19, 2022

Image

As GBP/JPY has continue to make new highs for the rally since the 123.99 low we have reviewed our count. It's clearly possible to count a complete five wave rally from 123.99 to the present high at 166.60. What It also clear is that wave 4 is a triangle, which is normally a warning that the next impulsive rally will be the last of the total five wave sequence since the 123.99 low. That of course also means that the very best of the impulsive rally now is behind us and it's just a matter of time before GBP/JPY peaks and a larger corrective decline to 156.90 is seen.

We expect GBP/JPY to see its final peak at 168.26 where wave 5 will be 61.8% the length of wave 1 through wave 3.

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 4520
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Wed Apr 20, 2022 2:13 am

Forex Analysis & Reviews: Trading plan for Ethereum for April 20, 2022

Image

Technical outlook:
Ethereum managed to rally through $3,130 highs on Wednesday before finding resistance. The crypto has plled back since then and is seen to be trading close to $3,095 levels at this point in writing. Intraday corrective drop remains possible through $2,980 mark, before the rally resumes higher toward $3,800-4,000 zone.

Ethereum has been in a counter trend rally since $2,140 lows,and is looking to progress toward $3,800 at least before turning lower again. Also note that $3,800 is close to fibonacci 0.618 retracement of earlier drop between $4,850 and $2,140 levels respectively. Further, the channel resistance is also passing through $3,800-4,000 zone.

High probability remains for a turn lower if prices manage to reach the above projection, as resistance would be strong. Bears will remain poised to be back in control from $3,800-4,000 mark and drag prices lower below $2,140 levels. Watch out for short term intraday support coming through $2,980 mark today.

Trading plan:
Potential rally through $3,800-4,000 against $2,100.
Good luck!

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 4520
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Thu Apr 21, 2022 5:17 am

Forex Analysis & Reviews: Technical Analysis of EUR/USD for April 21, 2022

Image

Technical Market Outlook:
The EUR/USD pair had extended the bounce from the last week low seen at 1.0757, but so far the bounce is still rather shallow as the bearish/neutral market border located at 1.0887 has not been tested yet (the local high was made at the level of 1.0874 so far)If the last week low is clearly violated, then the bears might push the price towards the technical support seen at 1.0654 (the key long term technical support for bulls) despite the extremely oversold market conditions. The down trend continues lower and there is no indication of down trend termination or reversal yet. The nearest technical resistance is located at 1.0887 and 1.0899 (bearish/neutral market border).

Weekly Pivot Points:
WR3 - 1.1073
WR2 - 1.1001
WR1 - 1.0893
Weekly Pivot - 1.823
WS1 - 1.0717
WS2 - 1.0648
WS3 - 1.0538

Trading Outlook:
The market is still in control by bears that pushed the price way below the level of 1.1185, so a breakout above this level is a must for bulls for a trend reversal. The next long-term technical support is located at 1.0639. The up trend can be continued towards the next long-term target located at the level of 1.1494 (high from 06.02.2022) only if bullish cycle scenario is confirmed by breakout above the level of 1.1186 and 1.1245, otherwise the bears will push the price lower towards the next long-term target at the level of 1.0639 or below.

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 4520
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Fri Apr 22, 2022 1:24 am

Forex Analysis & Reviews: Forecast for EUR/USD on April 22, 2022

The euro's growth from yesterday was more than 80 points, but it could not do anything with the general strengthening of the dollar, with the expectation of an even greater discrepancy in the rates of the Federal Reserve and the European Central Bank, which eventually led the single currency to close the day with a black candle of 12 points. Today's report on the eurozone PMI indices for April are expected to weaken. The forecast for manufacturing PMI is 54.7 against 56.5 in March, expectations for non-manufacturing PMI are 55.0 against 55.6 a month earlier. We are waiting for a further decline to the target range of 1.0636/70. The Marlin Oscillator has not yet reversed from its zero line on the daily chart, which could slow down a potential price decline.

Image

On the chart of the four-hour scale, the price and the readings of the indicators returned to the positions from yesterday morning. The only difference is that the MACD line slightly decreased, and now, for a reliable signal to decrease, the price should go under lower support, under the level of 1.0788. The bears' pressure on the price is not light.

Image

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 4520
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Mon Apr 25, 2022 1:51 am

Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for April 25, 2022

Image

GBP/JPY has see a nice drop from the 168.43 peak. We where looking for a peak at 168.26 so it was close to a bulls-eye regarding picking the top. We are now looking for a deeper and more prolonged corrective phase unfolding towards at least 158.25 and possibly closer to 150.10.

We have seen a nice five wave rally from 123.99 to 168.43 to complete the impulsive cycle and we are now looking for a corrective cycle for the coming month.

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 4520
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Tue Apr 26, 2022 1:18 am

Forex Analysis & Reviews: Forecast for EUR/USD on April 26, 2022

The euro fell by 78 points yesterday. The 1.0636 key level (March 2020 low) is about 100 pips away, and now the price is correcting slightly before further preparations to overcome it.

Image

The growing correction is expected to be small, the MACD indicator line on the four-hour chart (1.0755) serves as a reference point for its end. The price may slightly go above the indicator line. The Marlin Oscillator has turned up, it also tends to correct and discharge before further decline. Falling below yesterday's low at 1.0697 will start a new wave of decline for the euro.

Image

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 4520
Joined: Wed Nov 07, 2012 6:25 am

PreviousNext

Return to Forex Brokers