Instaforex Analysis

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Re: Instaforex Analysis

Postby IFX Gertrude » Thu Sep 01, 2022 1:46 am

Forex Analysis & Reviews: Trading Signal for GBP/USD for September 1-2, 2022: buy in case of rebound at 1.1542 (-1/8 Murray - reversal pattern)

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Early in the European session, the British Pound (GBP/USD) is trading at around 1.1574. We can see the formation of a symmetrical triangle on the 4-hour chart. If the pound manages to break above this pattern, we could expect a bullish acceleration towards the 21 SMA located at 1.1670.

The British pound is under downward pressure due to the gloomy outlook for the British economy.

Earlier this month, the Bank of England forecast that the British economy would enter a prolonged recession from the fourth quarter of 2022. This suggests that in the medium term the pound could reach the psychological level of 1.15 and even the low of 2020 at 1.1410.

The GBP/USD pair is trading below the 21 SMA located at 1.1670 and below the 200 EMA located at 1.1957. Any technical bounce towards these levels will be seen as an opportunity to sell.

On the 4-hour chart, we can see the formation of a downtrend channel since August 8. In case the downside pressure continues, a technical bounce around the bottom of the downtrend channel is expected around 1.1542.

Technically, GBP/USD is under strong bearish pressure and is trading around -1/8 of Murray at 1.1598. This Murray level represents a technical reversal zone.

In the event that the pound resumes its bullish cycle, we should expect it to trade above 1.1596 (-1/8 Murray), which could set the stage for a recovery in GBP and it could reach the top of the downtrend channel at around 1.1780.

On the other hand, if the pound continues its downward acceleration, it is expected to fall towards the area of around 1.1542. There is daily support and it could even reach -2/8 of Murray located at 1.1475.

Our trading plan for the next few hours suggests a sharp break above the symmetrical triangles pattern at around 1.1596 to buy with targets at 1.1670 and 1.1780. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex.

https://ifxpr.com/3B2UlSA
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 5198
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Re: Instaforex Analysis

Postby IFX Gertrude » Fri Sep 02, 2022 2:41 am

Forex Analysis & Reviews: Technical Analysis of GBP/USD for September 2, 2022

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Technical Market Outlook:
The GBP/USD pair has made another fresh low at the level of 1.1498 and continues to move away from the trend line resistance. The nearest horizontal technical resistance is seen at the level of 1.1622 and this level is the next target for bulls in a case of a local pull-back. The next target for bears is located at the level of 1.1410 (2020 low). The momentum remains weak and negative on the H4 time frame chart, so the larger time frame trend (daily and weekly) remains down until further notice.

Weekly Pivot Points:
WR3 - 1.18043
WR2 - 1.17392
WR1 - 1.17002
Weekly Pivot - 1.16741
WS1 - 1.16351
WS2 - 1.16090
WS3 - 1.15439

Trading Outlook:
The Cable is way below 100 and 200 DMA , so the bearish domination is clear and there is no indication of down trend termination or reversal. The bulls has failed big time to continue the corrective cycle after a big Bearish Engulfing candlestick pattern was made on the weekly time frame chart last week. The next long term target for bears is seen at the level of 1.1410. Please remember: trend is your friend. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex.

https://ifxpr.com/3Q9RYBN
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 5198
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Mon Sep 05, 2022 2:24 am

Forex Analysis & Reviews: Elliott wave analysis of Litecoin for September 5, 2022

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In late August, we pinpointed the possibility of a Shoulder- Head-Shoulder bottom being built. The right shoulder held support nicely and is now ready to test the neckline resistance at near 65.77. A break above here will activate the bottom formation for a rally towards 85.27 and possibly even closer to the extension target at 100.65.

However, a confirmed bottom could lead to much higher levels in the weeks/months ahead and 100.65 could only be a temporary stop on the way higher.

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

Analysis are provided by InstaForex.

https://ifxpr.com/3D0pKGQ
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 5198
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Tue Sep 06, 2022 1:37 am

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

The euro closed Monday with a slight decrease, not having time to close the gap from the market opening. This was prevented by resistance at 0.9950. The line of the Marlin Oscillator, which forms the convergence, also showed noticeable resistance. This morning the resistance level is overcome, the gap is closed, the euro may resume its decline, but the oscillator is still struggling with the linear support hurdle.
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To develop a downward movement, the price needs to return under the level of 0.9950. Next, we are waiting for the target levels 0.9850 and 0.9752 to be worked out. The price is between the balance and MACD indicator lines on the H4 chart, the Marlin Oscillator is in the negative area. To consolidate the downward momentum after the price goes under 0.9950, it will also need to overcome the MACD line, approximately in the area of 0.9918. It is also possible for the price to move slightly upwards (0.9985) so that the signal line of the Marlin Oscillator reaches the zero line and reverses from it, thus forming a repeated reversal pattern. This main scenario will be broken if the price settles above the resistance level of 1.0020.

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Analysis are provided by InstaForex.

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Re: Instaforex Analysis

Postby IFX Gertrude » Wed Sep 07, 2022 2:29 am

Forex Analysis & Reviews: Trading Signal for GBP/USD for September 7-8, 2022: buy above 1.1474 or 1.1385 (-1/8 Murray - 21 SMA)

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Early in the European session, the British pound is trading at around 1.1461. GBP/USD is under strong downward pressure. It is likely that if the pair continues to decline, a technical bounce could occur around the bottom of the downtrend channel at 1.1385.

The British pound is trading below the 21 SMA and below -1/8 Murray. As long as it continues to trade within the downtrend channel, GBP/USD is expected to continue its decline and could reach the extremely oversold zone around -2/8 Murray at 1.1230. One factor that keeps the pound weak is that investors are concerned about a possible recession in the UK economy.

According to the daily chart, the GBP/USD pair is entering oversold levels. So, a technical bounce is likely in the coming hours if the pound manages to consolidate above -1/8 Murray located at 1.1474.

On the other hand, a sharp break of the downtrend channel formed since the beginning of August could offer a sustained recovery for the pound and it could even reach the 0/8 Murray area at 1.1718 and could even reach the 200 EMA located at 1.1862.

Conversely, should the pound break the downtrend channel at around 1.1385, it could accelerate its decline below towards the zone of -2/8 Murray at 1.1230.

Our trading plan for the next few hours for GBP/USD is to wait for its consolidation at around 1.1384 to buy or wait for it to consolidate above 1.1474 (-1/8 Murray) and above the 21 SMA around 1.1526 to buy. Above these levels, we expect the British pound to reach the levels of 1.1605 and 1.1718.

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

Analysis are provided by InstaForex.

https://ifxpr.com/3qiufF2
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 5198
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Thu Sep 08, 2022 2:38 am

Forex Analysis & Reviews: Technical Analysis of GBP/USD for September 8, 2022

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Technical Market Outlook: The GBP/USD pair has hit the level of 1.1410 which is the 7 years low for this pair and the Bullish Engulfing candlestick pattern was made at the H4 time frame chart. The momentum is negative again on the H4 time frame chart, so the larger time frame trend (daily and weekly) remains down until further notice. Please watch closely the further market reaction for the level of 1.1410, because a shallow 100 pips bounce does not terminate the down trend. The bulls need at least to test the level of 1.1717 in order to make a corrective cycle to the upside more probable.

Weekly Pivot Points:
WR3 - 1.15513
WR2 - 1.15077
WR1 - 1.14791
Weekly Pivot - 1.14641
WS1 - 1.14355
WS2 - 1.14205
WS3 - 1.13769

Trading Outlook: The bearish domination is clear and there is no indication of down trend termination or reversal on the GBP/USD market. The bulls has failed big time to continue the corrective cycle after a big Bearish Engulfing candlestick pattern was made on the weekly time frame, so the downside move accelerated. The next long term target for bears is seen at the level of 1.1410 (2020 low). Please remember: trend is your friend.

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

Analysis are provided by InstaForex.

https://ifxpr.com/3RuFs1a
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 5198
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Fri Sep 09, 2022 1:08 am

Forex Analysis & Reviews: Forecast for GBP/USD on September 9, 2022

Yesterday, the pound closed down 30 points on the back of a weakening euro and the death of Queen Elizabeth II. But the central banks reacted extremely quickly and bought the market against the news. The volume of trading in the pound was the largest since July 14.

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Today, the pound started with growth, the price went above the resistance of 1.1525, on which it has been holding for the fourth day with strong fluctuations in both directions. The Marlin oscillator is growing on the daily scale, the price may reach the target level of 1.1600. But there is also a significant level slightly above it - 1.1650. This creates a danger that the price will quietly reach this level, and then consolidate above it and try to break through to 1.1815. But for now, we do not expect the pound to rise above 1.1600. Data on construction, trade balance and industrial production in the UK will be released on Monday, the forecasts for them are negative.

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Analysis are provided by InstaForex.

https://ifxpr.com/3eEmk2l
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 5198
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Mon Sep 12, 2022 2:52 am

Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for September 12, 2022

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GBP/JPY is getting absolutely nowhere. The most likely pattern unfolding here is a descending triangle as wave B/. We have apparently seen a top at 166.31 for renewed downside pressure towards the triangle support line near 160.00. A break below here will confirm the next decline towards 154.41.

Short-term a break below minor support at 164.19 will set the stage for a decline towards the triangle support line at 160.00. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex.

https://ifxpr.com/3qwlV4C
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 5198
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Tue Sep 13, 2022 1:09 am

Forex Analysis & Reviews: Forecast for GBP/USD on September 13, 2022

Yesterday, the pound rose by 93 points, the resistance level of 1.1648 was overcome. Now the price can work out the resistance of the MACD indicator line (1.1755).

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At the same moment, the signal line of the Marlin Oscillator may turn down after touching the border with the growth area. In this case, we expect a decrease below 1.1525. This is the main scenario. Price exit above resistance 1.1815 opens the 1.2005 target.

There is a mini-consolidation of the price after breaking above the level of 1.1648 on the four-hour chart. Probably, this is preparation for working out 1.1755. In any case, whether this residual growth takes place or not, after consolidating under 1.1648, the target 1.1525 will open. The MACD line is approaching this level.

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

Analysis are provided by InstaForex.

https://ifxpr.com/3qzJvxu
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 5198
Joined: Wed Nov 07, 2012 6:25 am

Re: Instaforex Analysis

Postby IFX Gertrude » Wed Sep 14, 2022 1:17 am

Forex Analysis & Reviews: NZDUSD Potential for Bearish Drop | 14th September 2022

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On the H4, with the price moving within the descending channel and below ichimoku cloud, we have a bearish bias that the price may drop from the 1st support at 0.59960, which is in line with the swing low and 61.8% fibonacci projection to the 2nd support at 0.59062, where the 100% fibonacci projection is. Alternatively, the price may rise to the 1st resistance at 0.61564, which is in line with the overlap resistance, 61.8% fibonacci retracement and 38.2% fibonacci retracement.

Trading Recommendation
Entry: 0.59960
Reason for Entry:Swing low and 61.8% fibonacci projection
Take Profit: 0.59062
Reason for Take Profit: 100% fibonacci projection
Stop Loss: 0.61564
Reason for Stop Loss:
Overlap resistance, 61.8% fibonacci retracement and 38.2% fibonacci retracement

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

Analysis are provided by InstaForex.

https://ifxpr.com/3xmBNut
Best regards, PR Manager

Learn more about InstaForex Company at http://instaforex.com
IFX Gertrude
 
Posts: 5198
Joined: Wed Nov 07, 2012 6:25 am

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