Instaforex Analysis

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Re: Instaforex Analysis

Postby IFX Gertrude » Tue Sep 21, 2021 3:00 am

Forex Analysis & Reviews: Trading plan for EURUSD for September 21, 2021

Technical outlook:
EURUSD might have carved an interim bottom around 1.1700 mark on Monday. The currency pair has bounced off through 1.1740 mark and has also produced a pinbar candlestick on the daily chart. High probability remains for bulls to take control back from here and push towards 1.1850, 1.1950 and 1.2050 potential targets.

EURUSD is probably into its last leg of the counter trend rally, which had begun since 1.1660 lows. The down gartley should likely terminate around 1.2050 mark, which is also the Fibonacci 0.618 retracement of the recent downswing (1.2266 to 1.1660). Bears might come back in control thereafter.

EURUSD is seen to be trading around 1.1735 level at this point in writing and is expected to push higher against 1.1660 mark. Immediate support is seen at 1.1660, while resistance comes in around 1.1850, followed by 1.1900 levels respectively. Only a drop below 1.1660 would change the above bullish scenario.

Trading plan:
Potential towards 1.2050 against 1.1660
Good luck!

Analysis are provided by InstaForex
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3923
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Wed Sep 22, 2021 2:44 am

Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for September 22, 2021

Image

EUR/JPY made it almost back to the start of wave i at 127.92. We have seen the low of wave ii at 127.95. Wave ii is allowed to correct to 99.99% of wave ii, but not more and therefore should stay above 127.92 or else, we will need to make a revision of our preferred count.

As long as short-term key-support at 127.92 is able to act as a floor, we will be looking for a break above minor resistance at 128.70 and more importantly a break above resistance at 129.55 as confirmation that wave ii has been completed and wave iii is unfolding towards 134.24 and135.42 .

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3923
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Wed Sep 22, 2021 2:45 am

Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for September 22, 2021

Image

EUR/JPY made it almost back to the start of wave i at 127.92. We have seen the low of wave ii at 127.95. Wave ii is allowed to correct to 99.99% of wave ii, but not more and therefore should stay above 127.92 or else, we will need to make a revision of our preferred count.

As long as short-term key-support at 127.92 is able to act as a floor, we will be looking for a break above minor resistance at 128.70 and more importantly a break above resistance at 129.55 as confirmation that wave ii has been completed and wave iii is unfolding towards 134.24 and135.42 .

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3923
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Thu Sep 23, 2021 1:53 am

Forex Analysis & Reviews: EURJPY short-term bullish bounce | 23rd Sep 2021

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Price is holding below the descending trendline resistance, however we are expecting price to be making a short-term bullish bounce as price is seen to bounce off the 1st support. We can expect the price to bounce from the 1st Support and ride the bullish momentum towards the 1st resistance in line with 61.8% Fibonacci projection, 61.8% Fibonacci retracement and descending trendline resistance. Our short-term bullish bias is further supported by the MACD indicator where the MACD line cross over the signal line.

Trading Recommendation
Entry: 84.760
Reason for Entry:
78.6% Fibonacci projection
Take Profit: 86.999
Reason for Take Profit:
61.8% Fibonacci projection
Stop Loss: 83.571
Reason for Stop Loss:
127.% Fibonacci Retracement

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3923
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Fri Sep 24, 2021 3:21 am

Forex Analysis & Reviews: USDJPY short-term bearish drop | 24th Sep 2021

Image

Price is holding above the ascending trendline support, however we are expecting the price to be making a short-term bearish drop as price has approached a strong resistance level where price reversed twice at that level. We can expect the price to drop from the 1st Resistance and ride the bearish momentum towards the 1st Support in line with 61.8% Fibonacci Retracement and 78.6% Fibonacci Projection. Our short-term bearish bias is further supported by the Stochastic indicator where the %K line touches the resistance level awaiting for a drop.

Trading Recommendation
Entry: 110.431
Reason for Entry:
127.2% Fibonacci Projection
Take Profit: 109.610
Reason for Take Profit:
61.8% Fibonacci retracement and 78.6% Fibonacci projection
Stop Loss: 110.794
Reason for Stop Loss:
-27.2% Fibonacci Retracement and 161.8% Fibonacci projection

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3923
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Mon Sep 27, 2021 2:29 am

Forex Analysis & Reviews: USDJPY short-term bearish drop | 27th Sep 2021

Image

Price is holding above the ascending trendline support, however we are expecting the price to be making a short-term bearish drop as price has approached a strong resistance level where price reversed thrice at that level. We can expect the price to drop from the 1st Resistance and ride the bearish momentum towards the 1st Support in line with 100% Fibonacci Projection and 78.6% Fibonacci Retracement. Our short-term bearish bias is further supported by the Stochastic indicator where the %D line touches the resistance level awaiting for a drop.

Trading Recommendation
Entry: 110.813
Reason for Entry:
78.6% Fibonacci Projection
Take Profit: 109.120
Reason for Take Profit:
100% Fibonacci Projection and 78.6% Fibonacci Retracement
Stop Loss: 111.652
Reason for Stop Loss:
-61.8% Fibonacci Extension and 127.2% Fibonacci projection

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3923
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Tue Sep 28, 2021 2:32 am

Forex Analysis & Reviews: AUDCAD bullish bounce| 28th Sep 2021

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Price is holding above the descending trendline resistance turn support, showing a strong bullish momentum. Price is approaching the trendline support to retest and we can expect price to bounce up from 1st Support in line 127.2% Fibonacci Projection and previous swing low, towards the 1st Resistance in line with 127.2% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is further supported by the Stochastic indicator where the %K line is abiding to a ascending trendline.

Trading Recommendation
Entry: 0.91127
Reason for Entry:
127.2% Fibonacci Projection
Take Profit: 0.93793
Reason for Take Profit:
127.2% Fibonacci Retracement and 78.6% Fibonacci Projection
Stop Loss: 0.90243
Reason for Stop Loss:
161.8% Fibonacci Projection and 127.2% Fibonacci Retracement

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3923
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Wed Sep 29, 2021 3:21 am

Forex Analysis & Reviews: Trading plan for EURUSD for September 29, 2021

Image

Technical outlook:
EURUSD might have carved a higher low around 1.1668 levels on Tuesday before pulling back. The currency could be looking to turn bullish from here and a break above 1.1750 will confirm the same. The counter trend rally still remains possible until prices stay above 1.1660 levels going forward. Bulls remain poised to push higher towards 1.2050 at least.

The recent boundary which is being worked upon is between 1.2266 and 1.1660 levels respectively. Also note that fibonacci 0.618 retracement of the above drop is seen passing through 1.2050-1.2100 zone. If bulls manage to push through the above zone, high probability remains for a turn lower since resistance will be strong.

The bigger picture for EURO remains bearish towards 1.1300, which is the Fibonacci 0.618 retracement of previous rally between 1.0636 and 1.2350 levels respectively. A drop there would warrant potential bullish reversal going forward.

Trading plan:
Potential rally towards 1.2050, against 1.1650.
Good luck!

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3923
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Thu Sep 30, 2021 2:50 am

Forex Analysis & Reviews: GBPJPY bullish bounce| 30th Sep 2021

Image

Price is reacting below the descending trendline resistance on the daily timeframe this shows an overall bearish trend, however we can expect a short-term bullish momentum for the price to bounce back to the resistance level. We can expect the price to bounce from the 1st Support in line with 61.8% Fibonacci Projection and 38.2% Fibonacci Retracement towards the 1st Resistance in line with 61.8% Fibonacci projection. Our bullish bias is further supported by the stochastic indicator where the %K line bounced from the support line.

Trading Recommendation
Entry:149.922
Reason for Entry:
38.2% Fibonacci Retracement and 61.8% Fibonacci projection
Take Profit: 152.161
Reason for Take Profit:
61.8% Fibonacci projection
Stop Loss: 149.156
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: 3923
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Fri Oct 01, 2021 2:10 am

Forex Analysis & Reviews: UKOIL facing bearish pressure, drop incoming!

Image

UKOIL is holding below 1st resistance at 79.28 in line with 61.8 Fibonacci retracement and 38.2% Fibonacci extension and may bearish towards 1st support at 76.10 in line 61.8% Fibonacci retracement and 161.8% Fibonacci extension . Our bearish is further supported by how MACD is showing a bearish signal where the signal line is above the MACD line. Otherwise price may bullish towards 2nd resistance at 80.72 in line with Horizontal swing high and 61.8% Fibonacci extension.

Trading Recommendation
Entry: 79.28
Reason for Entry:
61.8 Fibonacci retracement and 38.2% Fibonacci extension
Take Profit: 76.10
Reason for Take Profit:
61.8% Fibonacci retracement and 161.8% Fibonacci extension
Stop Loss: 80.72
Reason for Stop Loss:
Horizontal swing high and 61.8% Fibonacci extension.

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3923
Joined: Wed Nov 07, 2012 6:25 am

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