Instaforex Analysis

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Re: Instaforex Analysis

Postby IFX Gertrude » Mon Oct 18, 2021 3:16 am

Forex Analysis & Reviews: Technical Analysis of EUR/USD for October

Technical Market Outlook:
The EUR/USD pair had been rejected from the technical resistance seen at level of 1.1613, which is very close to the upper channel line. The series of some Pin Bars around this level is indicating as possible down move continuation towards the level of 1.1562 (intraday technical support), 1.1539 (technical support) or 1.1514 (the key short-term technical support).

On the other hand, the level of 1.1497 remains the key long-term technical support for bulls and any violation of this level will be seen as very negative for bulls. Please notice the market keeps trading inside of the descending channel, so the bears are still in control of the market.

Weekly Pivot Points:
WR3 - 1.1742
WR2 - 1.1684
WR1 - 1.1640
Weekly Pivot - 1.1582
WS1 - 1.1545
WS2 - 1.1479
WS3 - 1.1445

Trading Outlook:
The market is in control by bears that pushed the prices towards the level of 1.1562, which is the lowest level since November 2020. The next target for bears is seen at the level of 1.1497. The up trend can be continued towards the next long-term target located at the level of 1.2350 (high from 06.01.2021) only if bullish cycle scenario is confirmed by breakout above the level of 1.1909 and 1.2000.

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Analysis are provided byInstaForex.
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Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
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Re: Instaforex Analysis

Postby IFX Gertrude » Tue Oct 19, 2021 3:15 am

Forex Analysis & Reviews: Elliott wave analysis of Copper for October 19, 2021

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After a temporary correction in wave 4/ copper is on its way towards a new all-time high and a move closer to the next target at 5.07 and 5.76. If Copper takes a moon-shot, we could see Copper aim for 6.88 where wave 5/ will be equal in length to the distance traveled from the start of wave 1/ through to the peak of wave 3/ added to the low of wave 4.

Support is now seen at 4.44 with key support seen at 4.01.


Analysis are provided byInstaForex.
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Learn more about InstaForex Company at http://instaforex.com
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Re: Instaforex Analysis

Postby IFX Gertrude » Wed Oct 20, 2021 3:26 am

Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for October 20, 2021

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EUR/JPY has extended its sub-wave iii/ closer to the wave iii peak at 134.12. However, a correction in sub-wave iv/ should be expected soon towards support near 132.12 before the final impulsive rally towards the long-term target for wave 5/ and 3.

As JPY-crosses often form triangle consolidation in their fourth waves, we will be looking for a triangle consolidation in sub-wave iv/ .

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Re: Instaforex Analysis

Postby IFX Gertrude » Fri Oct 22, 2021 3:25 am

Forex Analysis & Reviews: Gold respects cloud support.

Gold price continues to respect the cloud support in the 4 hour chart and once again bounces off the cloud. Gold price is at $1,788 having made a higher low at the cloud support at $1,777. Gold price faces a major resistance trend line now and breaking above it will be an important bullish sign.

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Black line - major resistance trend line

Gold price is trading above the Kumo and above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Support is at $1,782, $1,778 and $1,772. Holding above the cloud is crucial for the short-term trend. Bulls need to show more signs of strength in order for more upside to be expected. So far short-term trend is in bull's control. Breaking above $1,790-$1,800 is important not only because of the major trend line, but because there we also find the upper cloud resistance in the Daily chart. A break out in a Daily time frame provides added support to the bullish scenario for a move towards $1,860 and higher.

Analysis are provided byInstaForex.
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Re: Instaforex Analysis

Postby IFX Gertrude » Mon Oct 25, 2021 3:42 am

Forex Analysis & Reviews: USDCHF bullish momentum | 25nd Oct 2021

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Price is seen to be reacting in a potential triangle. We can expect price to make a short-term bullish bounce from the 1st support in line with 61.8% Fibonacci retracement, towards the 1st Resistance in line with 127.2% Fibonacci projection and 38.2% Fibonacci retracement. Our short-term bullish bounce is further supported by the stochastic indicator where the %K line bounces off the support level.

Trading Recommendation
Entry: 0.91510
Reason for Entry:
61.8% Fibonacci retracement
Take Profit: 0.92278
Reason for Take Profit:
127.2% Fibonacci projection and 38.2% Fibonacci retracement
Stop Loss: 0.91336
Reason for Stop Loss:
127.2& Fibonacci projection

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
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Posts: 3989
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Re: Instaforex Analysis

Postby IFX Gertrude » Tue Oct 26, 2021 4:13 am

Forex Analysis & Reviews: Technical Analysis of GBP/USD for October 26, 2021

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Technical Market Outlook
The GBP/USD pair has failed to break through the technical resistance located at 1.3790. The momentum remains positive, but is not that strong yet as the market conditions are coming off the overbought levels and the bearish pressure intensify. The immediate technical support is seen at the level of 1.3726. The larger time frame trend remains up and the bulls have a chance to make a Bullish Engulfing candlestick pattern at the daily time frame chart.

Weekly Pivot Points:
WR3 - 1.3933
WR2 - 1.3884
WR1 - 1.3802
Weekly Pivot - 1.3757
WS1 - 1.3683
WS2 - 1.3629
WS3 - 1.3554

Trading Outlook:
The up trend on a larger time frame charts is being continued, but only a sustained breakout above the level of 1.4000 would improve the outlook to more bullish with a target at 1.4200. 100 DMA is located at the level of 1.3792 and 200 DMA is seen at 1.3846.

Analysis are provided byInstaForex.
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Re: Instaforex Analysis

Postby IFX Gertrude » Wed Oct 27, 2021 1:27 am

Forex Analysis & Reviews: GBPJPY facing bullish pressure, potential for more upside!

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Price is consolidating within the ascending channel and reacting above the ascending channel support. Price could potentially bullish from 1st support at 156.719 in line with 23.6% Fibonacci retracement and 61.8% Fibonacci extension to 1st resistance at 158.888 in line with 127.2% Fibonacci retracement and 78.6% Fibonacci extension. Our bullish bias is further supported by how price is trending above the Ichimoku cloud and also by how RSI is abiding to the ascending trendline support. Otherwise price may bearish towards 2nd support at 155.357 in line with 38.2% Fibonacci retracement and 100% Fibonacci extension.

Trading Recommendation
Entry: 156.719
Reason for Entry:
23.6% Fibonacci retracement and 61.8% Fibonacci extension
Take Profit: 158.888
Reason for Take Profit:
127.2% Fibonacci retracement and 78.6% Fibonacci extension
Stop Loss: 155.357
Reason for Stop Loss:
38.2% Fibonacci retracement and 100% Fibonacci extension.

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3989
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Re: Instaforex Analysis

Postby IFX Gertrude » Fri Oct 29, 2021 12:16 am

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

The euro grew by 49 points on Thursday, but not on the basis of the European Central Bank meeting to determine the decision on the fate of PEPP in December, but on the disappointing US GDP for the third quarter, which amounted to 2.0% against the expected 2.6%.

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On the daily scale chart, the price crossed the balance and MACD indicator lines, as well as the signal level of 1.1669. Now the target is open at 1.1750 - resistance on September 21-24. Overcoming the level opens the second target at 1.1852, which is likely to be achieved, as investors paid more attention to the US indicators. Today we will receive data on expenses and income of individuals for September, forecasts for which are weak: income -0.2%, expenses 0.5% against 0.8% in August. On Monday, the ISM manufacturing PMI for October is expected to decline from 61.1 to 60.4, on Wednesday the volume of industrial orders for September may show a decrease of 0.1%, which will lead to a downward revaluation of GDP, and may also deter the Fed from optimistic forecasts at the meeting on November 3rd.

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The situation is completely upward on the H4 chart: the price settled above the signal level of 1.1669, the Marlin Oscillator is growing in the positive area.

Analysis are provided byInstaForex.
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Re: Instaforex Analysis

Postby IFX Gertrude » Mon Nov 01, 2021 2:28 am

Forex Analysis & Reviews: GBPUSD facing bearish pressure, potential for more downside!

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Price is below the 1st resistance at 1.37093 in line with 23.6% Fibonacci retracement and 38.2% Fibonacci extension. Price has also shown a bearish breakout below the neckline of a possible head and shoulder pattern and also holding below the Daily 50MA. Price could potentially bearish from 1st resistance at 1.37093 in line with 23.6% Fibonacci retracement and 38.2% Fibonacci extension to 1st support at 1.36099 in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension . Our bearish bias is further supported by how Price is holding below the Ichimoku cloud and MACD is holding below the 0 line. Otherwise price may continue to bullish to 2nd resistance at 1.37732 in line with 61.8% Fibonacci retracement and 100% Fibonacci extension.

Trading Recommendation
Entry: 1.37093
Reason for Entry:
23.6% Fibonacci retracement and 38.2% Fibonacci extension
Take Profit: 1.36099 Reason for Take Profit:
78.6% Fibonacci retracement and 161.8% Fibonacci extension
Stop Loss: 1.37732
Reason for Stop Loss:
61.8% Fibonacci retracement and 100% Fibonacci extension.

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3989
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Tue Nov 02, 2021 2:36 am

Forex Analysis & Reviews: NZDJPY facing bullish pressure, potential for more upside!

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Price has broken out of the symmetrical triangle and is above 1st support at 81.799 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci extension. Price could potentially bullish from 1st support at 81.799 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci extension to 1st resistance at 82.507 in line with -0.272% Fibonacci retracement and 78.6% Fibonacci extension. Our bullish bias is further supported by how Price is holding above the EMA and the Ichimoku cloud and RSI is abiding to an ascending trendline support. Otherwise price may continue to bearish to 2nd support at 81.350 in line with 78.6% Fibonacci retracement and 127% Fibonacci extension.

Trading Recommendation
Entry: 81.799
Reason for Entry:
38.2% Fibonacci retracement and 61.8% Fibonacci extension
Take Profit: 82.507
Reason for Take Profit:
-0.272% Fibonacci retracement and 78.6% Fibonacci extension
Stop Loss: 81.350
Reason for Stop Loss:
78.6% Fibonacci retracement and 127% Fibonacci extension.

Analysis are provided byInstaForex.
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 3989
Joined: Wed Nov 07, 2012 6:25 am

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