Instaforex Analysis

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Re: Instaforex Analysis

Postby IFX Yvonne » Wed Jun 16, 2021 1:43 am

Forecast for EUR/USD on June 16, 2021

So the decisive day has come, determining the fate of the euro in the medium term. Today, the Federal Reserve meeting will take place, at which the beginning of a discussion on changing monetary policy can be announced. Yesterday's US report came out very well by the way: industrial production increased by 0.8% in May against the forecast of 0.6%, the producer price index (PPI) for the same period added 0.8% against expectations of 0.5%, the base PPI added 0.7%. Against this background, the trade balance of the euro zone in April showed a deterioration from 18.3 billion euros to 9.4 billion. And it is even surprising that yesterday the euro did not surpass the support of the MACD line on the daily chart (1.2084).

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Nevertheless, the price did not overcome the resistance of the red balance indicator line, which gives an indication of the downward trend's control over the situation. Today we expect to overcome the target level 1.2051. A little later, the price may reach the lower border of the price channel at 1.1942.

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There is no additional information on the four-hour timescale, unless the price also rose above the balance line and Marlin did not leave the downward trend zone.


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

Postby IFX Yvonne » Thu Jun 17, 2021 2:06 am

Forecast for GBP/USD on June 17, 2021

The British pound dropped 91 points on Wednesday, breaking the first target of the bears at 1.4004. Now the second target (1.3918) is open - the high on April 6. The 1.3800 level is the low on May 3.

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The price settled below the target level of 1.4004 on the four-hour time scale, the Marlin oscillator is discharging after a quick move into the oversold zone. Upon completion of the correction, we expect the price to further decline to the specified target level of 1.3918.

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[B]*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.[B]
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Re: Instaforex Analysis

Postby IFX Gertrude » Fri Jun 18, 2021 3:24 am

Forex Analysis & Reviews: EURNZD approaching descending trendline resistance! Drop Incoming!

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Price is approaching 78.6% Fibonacci retracement and descending trendline resistance. A short term drop below our 1st resistance at 1.70255 towards 1st support at 1.69560 could be possible. Stochastic is testing resistance where price pulledback in the past.

Trading Recommendation
Entry: 1.70255
Reason for Entry:
78.6% Fibonacci retracement, descending trendline resistance
Take Profit: 1.69560
Reason for Take Profit:
-27.2% Fibonacci retracement, Graphical overlap support
Stop Loss: 1.70583
Reason for Stop Loss:
Graphical swing high resistance

Analysis are provided byInstaForex.
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Re: Instaforex Analysis

Postby IFX Gertrude » Mon Jun 21, 2021 3:09 am

Forex Analysis & Reviews: Technical Analysis of EUR/USD for June!

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Technical Market Outlook:
The EUR/USD pair has been seen going lower again after the breakout to the downside from the consolidation zone. The next target for bears is the long term trend line support around the level of 1.1795 (marked as orange line on the daily time frame chart). Any violation below this line would trigger another wave down towards the key technical support seen at the level of 1.1704. The nearest technical resistance is located at the level of 1.1986.
Weekly Pivot Points:
WR3 - 1.2305
WR2 - 1.2222
WR1 - 1.2007
Weekly Pivot - 1.1927
WS1 - 1.1702
WS2 - 1.1620
WS3 - 1.1401

Trading Recommendations:
The distribution cycle had been completed and now the market is on the move down. The key long term technical support is seen at 1.1704. When this cycle is terminated, the up trend can be continued towards the next long-term target located at the level of 1.2350 (high from 06.01.2021).

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Re: Instaforex Analysis

Postby IFX Gertrude » Tue Jun 22, 2021 2:47 am

Forex Analysis & Reviews: Forecast for EUR/USD on June 22, 2021

EUR/USD
The euro gained 55 points from the target level it achieved on Monday and is currently showing a decline this morning. Perhaps,it might surpass the first price support on the way to the mid-term decline of 1.1855 by today or tomorrow and then the euro will continue to decline. The next target is 1.1705 - the March 31 low. The Marlin oscillator on the daily scale chart seems to have fallen deep enough that the rate of decline might slow down.

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On a four-hour chart, the Marlin oscillator shows an intention to turn around from its own zero line, which characterizes yesterday's growth as a moderate correction. Exit above Friday's high at 1.1926 will bring the oscillator into the zone of positive values. This pattern will allow the price to strengthen the corrective growth, possibly even to the MACD line to the level of 1.1990, where the H4 shows a micro consolidation from the 17th.

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The continuation of the decline is considered as the main option, as it has a 55% probability. The deepening of the correction to 1.1990 is accepted as an alternative, but it provides the opportunity to enter the market with short positions at the best price.

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Re: Instaforex Analysis

Postby IFX Yvonne » Wed Jun 23, 2021 4:39 am

Forecast for EUR/USD on June 23, 2021

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The euro ended with an increase of 22 points on Tuesday. This morning the price is going down, the Marlin oscillator on the daily scale is starting to turn down.

Outwardly, the price looks in a neutral state and there are reasons for this - investors are waiting for the release of the PMI of the eurozone and the United States for the current month and sales of new homes in the United States in May. The data is expected to be mixed, so investors are in no hurry to take succeeding actions. Nevertheless, according to our system of indicator lines, the price should not (conditionally) return to the MACD line (1.2070) in the near future, the level of 1.1705 is still the target.

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The price is developing along the signal line of 1.1926 on the four-hour chart, but this line seems to be out of place here, in fact, the price is ignoring it. Like yesterday, the probability of the MACD line working out in the area of the 1.1984 level remains. The Marlin oscillator is in a neutral situation. Moving below the target level of 1.1855 opens the target at 1.1705.


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

Postby IFX Gertrude » Thu Jun 24, 2021 3:07 am

Forex Analysis & Reviews: Forecast for AUD/USD on June 24, 2021

AUD/USD
The Australian dollar took on higher commitments yesterday and bravely stepped out of the embedded price channel line. The Marlin oscillator keeps the market interest in buying yesterday and today in a growing position.

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Our main scenario is a downward one, but if the price overcomes yesterday's high, it is possible that the growth will continue to the level of 0.7647 - to the low on June 3. A price return below the price channel line below 0.7552 will return the price to a downward mood. The closest target will be the level 0.7490.

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On the four-hour chart, the price met an obstacle to growth from the side of the MACD line. The Marlin oscillator is flat, but declining. We are waiting for the price to settle below the level of 0.7552 and a further decline to 0.7490.

According to the alternative scenario, after consolidation above 0.7600, growth to 0.7647 is possible.

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Re: Instaforex Analysis

Postby IFX Gertrude » Fri Jun 25, 2021 2:30 am

Forex Analysis & Reviews: Forecast for EUR/USD on June 25, 2021

EUR/USD
Yesterday, the economic data for Germany was better than expected, and for the US it was worse. And only the pound's decline by 40 points at the end of the day after the Bank of England's neutral meeting kept the euro in the previous day's range. Today, the dollar has the opportunity to rectify the situation in its favor if the data on consumer spending (forecast for May 0.4%) and the indicator of consumer sentiment for June from the University of Michigan (forecast 86.4 versus 82.9 a month earlier) do not turn out to be disappointing.

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The euro is still in the upward mood on the daily chart - consolidation lasts for the third day, the Marlin oscillator continues to rise. If the price rises above the signal level of 1.1970 - which is the high on Wednesday, then the growth may accelerate towards the resistance of the MACD line in the area of the 1.2070 mark.

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On the four-hour chart, the price tries to rise above the MACD indicator line for the second time. The second attempt may turn out to be successful, and then it is worth waiting for the price to breakthrough the area above the reference level so we can carefully open a long position.

But the main scenario is still the downward trend. The price needs to settle below the lower border of the two-day consolidation at 1.1912 and the path to the nearest target of 1.1855 will become open. We are waiting for the development of events.

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Re: Instaforex Analysis

Postby IFX Gertrude » Mon Jun 28, 2021 2:53 am

Forex Analysis & Reviews: Elliott Wave Analysis of Natural Gas for June 28, 2021

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Natural Gas just complete a cup with handle bottom calling for a rally towards 5.26. We currently see support at the cup with handle neckline at 3.40 and key support that should be able to protect the downside is seen at 3.13.

Longer term we will be looking for much higher levels, but expect resistance in the 4.92 - 5.26 zone should spark a period of consolidation before the next push higher towards 6.13 - 6.49 as the next target zone

Trading recommendation:
Buy Natural Gas or UNG to get exposure and place you stop at 3.10 for the rally to the 4.92 - 5.26 target-zone

Analysis are provided byInstaForex.
Best regards, PR Manager

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Re: Instaforex Analysis

Postby IFX Gertrude » Tue Jun 29, 2021 2:15 am

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

EUR/USD
The euro lost only a few points on Monday, but this showed the main thing - the intention to continue the decline to the first target of 1.1855, and then, if it overcomes this support, to strengthen the fall to 1.1705.

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Doubt is shown only by the Marlin oscillator on the daily chart, it never formed a reversal. Perhaps even before Friday's US employment report, macroeconomic data may not come as a pleasant surprise. For an alternate growth scenario, the price needs to settle above the signal level of 1.1970. In this case, the price may subsequently try to reach the MACD indicator line in the area of 1.2060.

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The price is above the balance and MACD indicator lines on the four-hour chart, the Marlin oscillator is on the zero line. For a downward signal, the price needs to go below these indicator lines, which coincide with yesterday's low at 1.1902. Perhaps it is this support that is felt by Marlin on a daily scale and keeps the market's interest in buying.

Analysis are provided byInstaForex.
Best regards, PR Manager

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IFX Gertrude
 
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