Instaforex Analysis

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Re: Instaforex Analysis

Postby IFX Gertrude » Thu Jun 03, 2021 2:09 am

Forex Analysis & Reviews: Technical Analysis of EUR/USD for June 3, 2021

Technical Market Outlook:
The EUR/USD pair had tested the lower channel line again, just around the level of 1.2200 and made a new local low at the level of 1.2164. 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. The momentum is neutral and the market conditions are now overbought.

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).

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Re: Instaforex Analysis

Postby IFX Gertrude » Fri Jun 04, 2021 2:44 am

Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for June 4, 2021

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We are looking for a correction in wave 4/ towards 130.86 as a minimum from where we could see the next impulsive rally higher towards 135.42 and possibly even higher. As wave 2/ was a simple deep zig-zag correction, we should expect a complex and hard to trade wave 4/ towards the ideal target at 130.86. It's possible that wave 4/ continues lower towards the 38.2% correction at 129.06 but only time will tell.

Trading recommendation:
As a complex and hard to trade wave 4 correction is unfolding, we recommend stay on the sideline and wait to buy EUR near 130.86 for the next rally towards 135.42

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Re: Instaforex Analysis

Postby IFX Gertrude » Mon Jun 07, 2021 1:45 am

Forex Analysis & Reviews: Forecast for USD/JPY on June 7, 2021

USD/JPY
The USD/JPY pair returned to support at 109.37 last Friday. The signal line of the Marlin oscillator has reached the lower border of its own rising channel on the daily chart. Growth recovery in case of price reversal from technical support in this situation looks like a "traditional" scenario, as the growing Marlin channel has acquired the third touchpoint and, thus, the 110.47 target remains relevant and important.

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But the pair's recent development is directly related to the dollar index, and today it is in a situation of uncertainty. Therefore, the option of continuing the decline when the price settles below the 109.37 level is quite probable. The target of this movement will be the 108.35 level.

Image

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Re: Instaforex Analysis

Postby IFX Gertrude » Mon Jun 07, 2021 1:45 am

Forex Analysis & Reviews: Forecast for USD/JPY on June 7, 2021

USD/JPY
The USD/JPY pair returned to support at 109.37 last Friday. The signal line of the Marlin oscillator has reached the lower border of its own rising channel on the daily chart. Growth recovery in case of price reversal from technical support in this situation looks like a "traditional" scenario, as the growing Marlin channel has acquired the third touchpoint and, thus, the 110.47 target remains relevant and important.

Image

But the pair's recent development is directly related to the dollar index, and today it is in a situation of uncertainty. Therefore, the option of continuing the decline when the price settles below the 109.37 level is quite probable. The target of this movement will be the 108.35 level.

Image

Analysis are provided byInstaForex.
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Re: Instaforex Analysis

Postby IFX Gertrude » Tue Jun 08, 2021 2:15 am

Forex Analysis & Reviews: Forecast for EUR/USD on June 8, 2021

EUR/USD
The euro gained 23 points on Monday, going deeper into the accumulation range of May 18. The intention to form a triple divergence with the Marlin oscillator has intensified. Also, the price may turn down within the accumulation range, since the Marlin oscillator is still in the negative zone and is in no hurry to get out of it. The probability of the price reaching the level of 1.2272 is about 40%.

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On the four-hour scale, the situation is similar in terms of uncertainty, here the oscillator is in the growth area, but the price is below the indicator lines. A breakthrough above the MACD line, above 1.2214, will increase the probability that the price will reach the 1.2272 level to 50%.

Image

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Re: Instaforex Analysis

Postby IFX Gertrude » Wed Jun 09, 2021 2:22 am

Forex Analysis & Reviews: Forecast for EUR/USD on June 9, 2021

EUR/USD On Tuesday, the euro fell to the lower limit of the accumulative range from May 18, which formally increases the likelihood of going down from it, but tomorrow the European Central Bank will hold a monetary policy meeting, it will be very important, if only due to the fact that it will take place in its traditional form, and not online. The investors' main issue of concern is the change in the volume of the PEPP program. The euro may remain in a neutral range as it awaits the ECB meeting.

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The probability of a triple divergence of the price with the oscillator remains. And here the rapid growth in the 1.2272-1.2310 range may take place precisely at the ECB meeting. Another scenario assumes a decline to the target level of 1.2051 - to the low on May 13. Further, a decline to the lower border of the price channel is possible - to the area of 1.1925.

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The Marlin oscillator is already lying on the horizon on the four-hour chart, which suggests a sideways price movement in anticipation of tomorrow's event. A signal for growth will be the price exit above the MACD line (1.2210).

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Re: Instaforex Analysis

Postby IFX Gertrude » Thu Jun 10, 2021 2:04 am

Forex Analysis & Reviews: Forecast for EUR/USD on June 10, 2021

EUR/USD
Yesterday, the euro was growing at the moment by 46 points, but the final daily growth was 8 points - investors were waiting for today's decision of the ECB on monetary policy and the US CPI indicators for May. The forecast for the general CPI is 4.7% y/y against 4.2% y/y in April, the core CPI is expected to be 3.4% y/y against 3.0% y/y a month earlier. Investors, of course, are waiting for an increase in inflation indicators, so the EUR/USD pair is visually preparing to move out of the accumulation range to the downside. The likelihood of a triple divergence is still there, as news from the ECB will be released first.

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But in general, whether another price surge will take place or not, we are waiting for the euro to reach the target level of 1.2051. Surpassing the level makes way for the 1.1925 target - the lower border of the rising price channel.

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On the four-hour scale, the price turned downward from the MACD line yesterday, piercing it. This is still a sign of a further decline in prices from current levels. The Marlin oscillator is breaking into a downward trend zone.

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Re: Instaforex Analysis

Postby IFX Gertrude » Fri Jun 11, 2021 1:51 am

Forex Analysis & Reviews: Forecast for GBP/USD on June 11, 2021

GBP/USD
The British pound took advantage of the euro's uncertain state after the ECB meeting and gained 59 points. On the daily chart, it looks like a rebound from the balance indicator line.

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But all is not lost for the bears: the Marlin oscillator is not growing, as it remains in the zone of negative values, and in the afternoon, as expected, weak data on the UK will be released. GDP for the first quarter is forecasted at -1.5% (-6.1% y/y), trade balance for April at 12.1 billion pounds against 11.7 billion in March, industrial production growth in April 1.2% against 1.6% a month earlier. Perhaps the price will return to the MACD line (1.4105), that is, to yesterday's opening. Growth, in case of good indicators, is possible, and it could reach a target level like 1.4244 and even further to 1.4277.

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The price settled above both indicator lines on the H4 chart, Marlin is in a growing position. The short-term trend is on the rise. If the price returns below the MACD line (1.4150), then the movement will continue to 1.4105.

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Re: Instaforex Analysis

Postby IFX Yvonne » Mon Jun 14, 2021 2:05 am

Forecast for GBP/USD on June 14, 2021

GBP/USD

In Friday's fall, the pound pierced the support of the MACD indicator line on the daily chart with a lower shadow, and today the market opening was below it. This is a sign of further price declines. The Marlin oscillator has reversed from its own zero line separating the growth zone from the decline zone and is now deepening below. The goal of further movement of 1.1004 is the low on May 13 and the high on March 12.

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On the four-hour chart, the price has completed a false exit above the MACD line for the fifth time in a row. Taking into account the situation on the daily scale, this was probably the last time, now the MACD line at 1.4142 looks even stronger.

The Marlin oscillator is in its lower half, we are waiting for the development of a downward movement.

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*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 » Tue Jun 15, 2021 1:49 am

Forecast for EUR/USD on June 15, 2021

On Monday, as expected, the euro corrected slightly to the upside and spent the day in the range of expectations for today's US data on manufacturing inflation, retail sales and industrial production. Tomorrow, the Federal Reserve will make a decision on monetary policy and investors believe that today's good indicators (if they turn out to be such, and which the Fed members already know), will be able to influence the final summary in the direction of tightening. In terms of rhetoric, of course.


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The price is below the balance indicator line on the daily chart, but above the MACD line, which in its semantic meaning defines the price position as neutral with an impending attack on the support of the MACD line (1.2082). The bears' main target is the 1.2051 level, surpassing it would open the next target at 1.1934 - the lower border of the price channel of the weekly timeframe.


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On the H4 chart, the line of the Marlin oscillator begins to smoothly turn downward. Perhaps yesterday's peak at 1.2131 is the upper border of the current consolidation.

We are waiting for the attack on the support of the MACD line of the daily timeframe in the area of the 1.2082 mark.


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