Instaforex Analysis

[IFX Gertrude]

Forex Analysis & Reviews: GBPUSD holding above ascending trendline support! Bounce incoming!



GBPUSD holding above ascending trendline support. A short term bounce above 1st support at 1.40881 towards 1st resistance at 1.42117could be possible. RSI is testing support where price bounced in the past as well. Trading Recommendation Entry: 1.40881 Reason for Entry: 61.8% Fibonacci retracement, ascending trendline support
Take Profit: 1.42117
Reason for Take Profit:
Graphical swing high
Stop Loss: 1.40056
Reason for Stop Loss:
Horizontal swing low

Analysis are provided byInstaForex.

[IFX Gertrude]

Forex Analysis & Reviews: Forecast for USD/JPY on May 21, 2021

USD/JPY
Yesterday, the dollar lost 44 points against the yen, but this day may be the last in the current stage of suppressing the pair's growth. Equity markets rose well yesterday (S& P 500 1.06%), this morning, the dollar shows a technical recovery to strengthen.



On the daily chart of the USD/JPY pair, the Marlin oscillator turns to the upside from the zero (neutral) line. Sure. These are only signs that the pair would rise. First of all, the price should rise above the strong resistance at 109.37. In this case, the 109.97 target is open, to which the MACD line is aiming for, then it may continue to rise to the area where two lines of price channels at 110.50 intersect.



On the four-hour chart, the only weak sign of growth is the Marlin Oscillator, which is turning up, but is still in the negative area. The MACD line coincides with the technical price level of 109.37, this increases the level's significance and at the same time its strength. We are waiting for the development of events.

Analysis are provided byInstaForex.

[IFX Gertrude]

Forex Analysis & Reviews: Forecast for EUR/USD on May 24, 2021


EUR/USD The euro decided to make a reversal. So far, this reversal consists of an attack on support at 1.2170 that is not very confident. But the level is strong, it has acted as support and resistance several times since December last year.



The Marlin oscillator is decreasing on a daily basis, bracing for an attack on the border of the bears' territory, and according to its indication, the probability of the price successfully breaking through the indicated level is high. The target of the subsequent movement is the 1.1985-1.2040 range, defined by the May low and the MACD line.



Marlin is in the negative area on the H4 chart, the price is consolidating before the support of the actual price level at 1.2170 as well as the MACD line. Today is a holiday in Germany, Canada and Switzerland, and the US will not report any important reports, so we are waiting for the continuation of consolidation. Tomorrow, IFO indices will be released in Germany, as well as reports on US home prices, new home sales, and consumer confidence. We are waiting for the increased dynamics of the euro.

Analysis are provided byInstaForex.

[IFX Gertrude]

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

EUR/USD
The consolidation we expected yesterday acquires an increased range, the price returns to the peaks on May 19 and 21. Most likely, the price will not be allowed to rise above these highs by the price channel line and double divergence with the Marlin oscillator. Until this exit has taken place, the main scenario is the euro reversal towards the departure under the May low of 1.1985.



The price is above the balance indicator lines and the MACD on the four-hour chart, while the Marlin oscillator has moved into the growth area. We don't expect Tuesday to be an easy day for the dollar, the euro, most likely, will stay above 1.2170 for another day.



Analysis are provided byInstaForex.

[IFX Gertrude]

Forex Analysis & Reviews: Elliott wave analysis of Silver for May 26, 2021



Silver is ready to test key resistance at 29.86. When it breaks this level, silver will move higher to the all-time high at 49.83. Ultimately silver should break above here too for a rally closer to 100.

Support is now seen at 27.46 that ideally should be able to protect the downside.

Trading recommendation:

Buy silver for a test of 29.86 and ultimately a break above here too for a continuation towards 49.83

Analysis are provided byInstaForex.

[IFX Gertrude]

Forex Analysis & Reviews: Forecast for EUR/USD on May 27, 2021

EUR/USD
The euro began to decline. Yesterday the price expectedly left the wedge-shaped formation downwards, this morning the Marlin oscillator attacks the border of the downward trend. Double divergence is gaining strength. The first target for the decline is the MACD line in the area of 1.2055, which is near the low on May 13.



The price settled under the MACD line on the four-hour chart, and the Marlin oscillator was deeply embedded in negative territory. We are waiting for the price at the designated target.



Analysis are provided byInstaForex.

[IFX Gertrude]

Forex Analysis & Reviews: US stocks rise after unemployment data



As a result of trading, the Dow Jones Industrial Average rose 139 points, or 0.4%, to 34462. The S&P 500 index rose 0.1%. The Nasdaq Composite was down less than 0.1%.

This week, stock indices are hovering amid easing concerns about a spike in inflation and after Fed officials said they could start discussing adjustments to asset purchase programs in the near future. Investors are closely monitoring indicators of economic activity to assess the likely timing of the withdrawal of monetary stimulus.

The number of initial applications for unemployment benefits last week was 406,000, a week earlier it was 444,000. It fell to a new low since the start of the pandemic due to further improvement in the labor market situation, and was even lower than analysts expected.

Durable goods orders fell 1.3% in April, while economists were mostly forecasting an upturn. US GDP for the 1st quarter, according to the second estimate, grew by 6.4%.

Investors are closely watching the stocks of companies that have become popular among online traders. AMC Entertainment shares up 50%. Stocks and GameStop hovered around the flat line.

Ford Motor shares added 5.7%. They are rising for the second day in a row after the company announced that 40% of its global car fleet should be fully electric by 2030. Dollar Tree shares fell 6.9%.

The yield on 10-year US Treasuries rose to 1.609% from 1.572% on Wednesday.

The pan-European Stoxx Europe 600 gained 0.3%.

In Asia, trading in shares ended with multidirectional dynamics. Shanghai Composite added 0.4%, Hang Seng dropped 0.2%.

Analysis are provided byInstaForex.

[IFX Gertrude]

Forex Analysis & Reviews: Forecast for EUR/USD on May 31, 2021

EUR/USD
The euro fell by 60 points last Friday, and with the release of positive US data, it returned to the opening of the day. Investors probably closed against the data ahead of the long weekend in the US and UK until June 1. Consumer personal spending for April increased by the expected 0.5%, the US trade balance for April improved from -92.0 billion dollars to -85.2 billion.



Technically, nothing has changed for the euro, even the indicators at the end of the day did not move from their values. As a result, we are still waiting for the price to support the MACD line on the daily chart near the 1.2052 mark. The level coincides with the low on May 13.



On the four-hour chart, the price did not go over the MACD line and the Marlin oscillator did not cross the zero line, that is, did not leave the negative territory. The EUR/USD pair is likely to resume its decline.

Analysis are provided byInstaForex.

[IFX Gertrude]

Forex Analysis & Reviews: Forecast for EUR/USD on June 1, 2021

EUR/USD
On Monday, the euro strengthened in a trading range of May 19-27 in the thin market, still creating a technical risk for growth to the target levels of 1.2272 and 1.2310 (peaks on December 17 and 31, 2020). A decline from yesterday's opening removes such a risk and will set the euro to exit the range down.



This moment looks more detailed on the four-hour scale: consolidating under the MACD line (1.2220) with a departure under 1.2200 creates a signal for movement towards the MACD line on the daily chart, in the area of 1.2068.



Analysis are provided byInstaForex.

[IFX Gertrude]

Forex Analysis & Reviews: Technical Analysis of EUR/USD for June 2, 2021


Technical Market Outlook:
The EUR/USD pair rally towards the swing high had been capped at the level of 1.2254 after the Pin Bar candlestick was made. The next target for bulls is seen at the level of 1.2266, which is a swing high. If there is no sustained and coordinated up wave continuation above the level of 1.2266, the bears might strike again and push the prices towards the main channel lower line seen around the level of 1.2160 or the local low made at 1.2131. So fat the momentum is strong and positive, which support the short-term bullish outlook.

Weekly Pivot Points:
WR3 - 1.2356
WR2 - 1.2298
WR1 - 1.2235
Weekly Pivot - 1.2173
WS1 - 1.2117
WS2 - 1.2059
WS3 - 1.1997

Trading Recommendations:
The daily time frame chart show the breakout above the trend line resistance and a new swing high above the recent Doji candlestick high. The momentum is strong and positive, so the up trend can be continued towards the next long-term target located at the level of 1.2241 (25.02.2021) and 1.2350 (06/01/2021).



Analysis are provided byInstaForex.