Instaforex Analysis

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Re: Instaforex Analysis

Postby IFX Gertrude » Tue May 24, 2022 2:38 am

Forex Analysis & Reviews: Technical Analysis of EUR/USD for May 24, 2022

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Technical Market Outlook:
The EUR/USD pair has bounced from the lows seen at the level of 1.0349 last week and continues to move higher. Currently, bulls had broken above the neutral market zone located between the levels of 1.0631 - 1.0654 and are trading inside the bullish zone. The strong and positive momentum support the short-term bullish outlook for Euro, however the ABC corrective cycle for bulls looks completed and the level of 1.0673 was the 100% Fibonacci extension for the up wave. If the bulls will continue higher, the next target is seen at 1.0731 (127% Fibonacci extension). The immediate technical support is located at 1.0654 and 1.0631 (the previous resistance).

Weekly Pivot Points:
WR3 - 1.0888
WR2 - 1.0735
WR1 - 1.0635
Weekly Pivot - 1.0526
WS1 - 1.0448
WS2 - 1.0311
WS3 - 1.0227

Trading Outlook:
The market is still in control by bears that pushed the price way below the level of 1.0639, so a breakout above this level is a must for bulls for a long-term trend reversal. The up trend can be continued towards the next long-term target located at the level of 1.1186 only if bullish cycle scenario is confirmed by breakout above the level of 1.0726, otherwise the bears will push the price lower towards the next long-term target at the level of 1.0336 or below.

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Re: Instaforex Analysis

Postby IFX Gertrude » Wed May 25, 2022 2:11 am

Forex Analysis & Reviews: Forecast for EUR/USD on May 25, 2022

Yesterday the euro chose to continue the correction with the full development of the MACD indicator line. The daily Marlin Oscillator is turning down, of course, a downside scenario is more likely. Targets for a decline are marked on the chart: 1.0600, 1.0493, 1.0340.

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The situation for the reversal looks even stronger on the four-hour chart: the price has formed a triple divergence with the Marlin Oscillator. At the same time, the signal line of the oscillator has formed a wedge, from which a downward breakthrough is already taking place. We are waiting for the price at the first target level of 1.0600.

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Re: Instaforex Analysis

Postby IFX Gertrude » Thu May 26, 2022 1:33 am

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

The euro fell by 57 points on Wednesday. The daily candle has covered (engulfed) the white candle of Tuesday, which is one of the signs of a downward trend reversal. At the moment, the price is trying to grow, but it is being held by the balance (red) and MACD (blue) indicator lines. The Marlin Oscillator is turning down. The bears' goals remain the same: 1.0600, 1.0493, 1.0340.

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The downward direction has not yet gained a foothold on the H4 chart. The leading Marlin Oscillator penetrated into negative territory yesterday, but did not settle on it on the first attempt. A significant signal of reaching the first target at 1.0600 will be when the price overcomes yesterday's low at 1.0642. The MACD line is just below the level of 1.0600, which strengthens it, so you should wait for the price to settle below it in order to carry out trading strategies with the euro target at 1.0493.

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Re: Instaforex Analysis

Postby IFX Gertrude » Fri May 27, 2022 2:48 am

Forex Analysis & Reviews: Forecast for EUR/USD on May 27, 2022

Last night, the euro made a desperate attempt to break above the resistance of the MACD indicator line, and this morning it succeeded. The desperation of the moment is that yesterday's daily trading volumes were the lowest for the month. True, there was a holiday in Switzerland, but the price still needs to do a lot to strengthen the medium-term growth. At the first stage, the price should settle above the MACD line, that is, the day should be closed with a white candle. The nearest targets in this case will be the levels 1.0780 and 1.0830.

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In the current situation, the Marlin Oscillator on the daily scale does not share the price's optimism, so it is worth waiting for the price's reaction at the target levels.

Marlin also does not share the price's optimism on the four-hour chart, there are early signs of the formation of a divergence, and in order to overcome it, the price needs to move noticeably higher.

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At the moment, the strategically correct decision will be to wait for today's uncertainty.

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Re: Instaforex Analysis

Postby IFX Gertrude » Mon May 30, 2022 1:29 am

Forex Analysis & Reviews: Forecast for GBP/USD on May 30, 2022

On the daily chart, the price has moved above the target level of 1.2637 with the rising Marlin Oscillator. Ahead of it is the target level of 1.2715. The MACD line is now below this level, but the price may slightly go above it even if it plans to turn down later. If the price consolidates above this level, then the growth may last up to 1.2970 - the path will become open.

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On the four-hour chart, the price develops growth above the balance indicator line. The Marlin Oscillator turned up without reaching the border of the bears' territory. The rising trend is strong.

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Re: Instaforex Analysis

Postby IFX Gertrude » Tue May 31, 2022 1:30 am

Forex Analysis & Reviews: Forecast for EUR/USD on March 31, 2022

Following the plan we described yesterday, the euro reached the target level of 1.0780 and turned down from it. The daily Marlin Oscillator supports this reversal. Now our attention is on the MACD indicator line (1.0693) – if the price overcomes it, then we can aim for the 1.0600 target. If the price does not overcome that level, then it may turn around to reach a higher level at 1.0830.

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On the H4 chart, the price divergence with the oscillator has changed somewhat over the past day, but retains its influence. The signal line of the oscillator is in negative territory again. The MACD line here almost coincides with the MACD line on a daily scale. The 1.0693 level is of particular importance due to the coincidence of the indicator of different timeframes on it. As a result, the probability of working off 1.0600 with the price going lower, to the levels of 1.0493 and 1.0340, increases.

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Re: Instaforex Analysis

Postby IFX Gertrude » Wed Jun 01, 2022 2:18 am

Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for June 1, 2022

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We continue to look for more downside pressure as the correction from 140.04 should persist longer. That said the current rally from 132.66 could peak here at 138.50 but as always with X-waves or B-waves all possible options are open. Therefore, we could also see a flat correction back to test the 140.04 higher before turning lower. But also the option for an expanded flat is open and that would call for a break above 140.04 closer to 142.87 before turning lower again. To confirm that wave X is complete we need a break below minor support at 136.80 that would call for renewed downside pressure towards 130.22.

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Re: Instaforex Analysis

Postby IFX Gertrude » Thu Jun 02, 2022 3:39 am

Forex Analysis & Reviews: Technical Analysis of EUR/USD for June 2, 2022

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Technical Market Outlook:
The EUR/USD bulls failed to break through the key short-term supply zone located at the level of 1.0786 and did not hit the 161% Fibonacci extension of the wave C located at 1.0805. Instead, the market fell out of the channel and tested the immediate technical support located at 1.0654. If this level is clearly violated, the termination of the impulsive cycle is confirmed and the correction to the downside is in progress. The nearest technical resistance is seen at 1.0678, 1.0715 and at the local high located at 1.0787.

Weekly Pivot Points:
WR3 - 1.1043
WR2 - 1.0898
WR1 - 1.0827
Weekly Pivot - 1.0691
WS1 - 1.0625
WS2 - 1.0485
WS3 - 1.0411

Trading Outlook:
The market had bounced from the key long-term technical support located at the level of 1.0336 and is heading higher. The up trend can be continued towards the next long-term target located at the level of 1.1186 only if bullish cycle scenario is confirmed by breakout above the level of 1.0726, otherwise the bearswill push the price lower towards the next long-term target at the level of 1.0336 or below.

Analysis are provided byInstaForex.

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Best regards, PR Manager

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Re: Instaforex Analysis

Postby IFX Gertrude » Fri Jun 03, 2022 1:02 am

Forex Analysis & Reviews: Forecast for AUD/USD on June 3, 2022

The Australian dollar showed a very good growth on Thursday, at which it overcame the resistance of the MACD line (0.7212) and reached the target level of 0.7285 (high on February 23). Now, probably, it's time for a correction, which is warned by the Marlin Oscillator, the signal line of which is turning down. The reversal will be confirmed by the price returning under the MACD line, below 0.7212. The exit above 0.7285 and consolidating on lower timeframes can extend the growth to 0.7400.

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The situation on the four-hour chart is similar to the higher timeframe - the general trend is upward, but it has primary signs of a reversal. As on the daily scale, we are waiting for the price to fall below the signal level of 0.7212. Just below it is the MACD line (0.7195), crossing this line will become a confirmation of the reversal signal.

Image

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Re: Instaforex Analysis

Postby IFX Gertrude » Mon Jun 06, 2022 2:06 am

Forex Analysis & Reviews: Forecast for EUR/USD on June 6, 2022

The optimistic data on US employment released on Friday helped the dollar to slightly strengthen against most world currencies. The euro fell by 27 points. The Marlin Oscillator resumed its decline on the daily chart. The price is moving towards the support of the MACD indicator line (1.0675). Breaking this line will open the target level at 1.0600. Consolidating below the level opens the 1.0493 target. This is the main scenario. A breakthrough above 1.0780 would naturally open the 1.0830 target, but a move higher to 1.0940 at that stage looks unlikely.

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The price settled below the MACD line on the four-hour chart, the Marlin Oscillator has reached the border with the territory of the downward trend and is preparing to overcome it. We are waiting for the development of a downward trend.

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