|
|
Post by instaforexgertrude on Oct 12, 2023 1:31:03 GMT -5
GBPUSD H4 I Bullish Momentum? GBP/USD bears momentum, possibly falling to 1st support at 1.2259 (overlap support) or 2nd support at 1.2176 (overlap support). On the upside, 1st resistance at 1.2337 (swing high, 127.20% Fibonacci Extension) and 2nd resistance at 1.2418 (swing high, 161.80% Fibonacci Extension) may hinder upward movement. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 13, 2023 0:13:31 GMT -5
GBPUSD H4 I Reacting off resistance level? GBP/USD is exhibiting strong bullish momentum, with the potential to move higher towards the 1st resistance at 1.2259, a historically significant level where price often faces resistance. Conversely, on the support side, the 1st support at 1.2173, identified as a multi-swing low support, and the 2nd support at 1.2118, aligned with the 78.60% Fibonacci Retracement, hold importance as potential areas for buying interest. In summary, the current trend in GBP/USD leans towards a bullish outlook, and traders will closely monitor these support and resistance levels for potential shifts in market sentiment or reversals. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 16, 2023 1:34:08 GMT -5
Forex Analysis & Reviews: EUR/USD: bullish counterattack failedThe report on American inflation for September brought the "bulls" on EUR/USD back down to earth. In annual terms, the CPI grew at the same pace as in August, at 3.7%. Core inflation, as expected, slowed down to 4.1%. However, the monthly data convinced investors that it's still too early to close the door to a federal funds rate increase to 5.75%. The likelihood of such an outcome in December jumped from 28% to 40%, and the dollar and Treasury bond yields once again rose in unison. Dynamics of U.S. core inflation  In October, Federal Reserve officials began discussing how the rally in debt rates had tightened financial conditions. In other words, the bond market had done part of the central bank's job. Investors interpreted this rhetoric as a signal that the monetary tightening cycle was coming to an end. CME derivatives implied a 91% probability of maintaining the federal funds rate in November and 72% in December. Furthermore, discussions about a dovish pivot have resumed in the Forex market. BNP Paribas, in particular, noted that for the federal funds rate to remain at 5.5%, inflation would have to remain flat for a long time. If it slows down as rapidly as it has in the past, the chances of the Fed easing monetary policy in 2024 will increase dramatically. The U.S. inflation report for September has made significant corrections to this theory. Consumer prices do not necessarily have to slow down; they could accelerate. As a result, the theme of monetary policy divergence, which underpins the downward trend in EUR/USD, has returned to the market. Indeed, the minutes of the latest European Central Bank meeting expressed concerns about the state of the Eurozone's GDP. It is difficult to bring inflation back to the 2% target without causing significant harm to the economy. The ECB now believes that the risks of overdoing monetary policy tightening outweigh the risks of doing too little and letting the inflation genie out of the bottle again. The regulator noted that inflation expectations are anchored. This is another piece of evidence supporting the end of the monetary tightening cycle. Indeed, the minutes of the latest European Central Bank meeting expressed concerns about the state of the Eurozone's GDP. It is difficult to bring inflation back to the 2% target without causing significant harm to the economy. The ECB now believes that the risks of overdoing monetary policy tightening outweigh the risks of doing too little and letting the inflation genie out of the bottle again. The regulator noted that inflation expectations are anchored. This is another piece of evidence supporting the end of the monetary tightening cycle. Dynamics of European inflation expectations   Therefore, the bears for EUR/USD have played the old but effective card of divergence in monetary policy. Markets do not rule out the possibility of a federal funds rate hike and are practically certain of a deposit rate ceiling of 4% at the ECB. Along with the divergence in economic growth between the U.S. and the Eurozone, this driver could push the main currency pair towards 1.02, if not parity. From a technical perspective, the EUR/USD daily chart is currently implementing the Holy Grail strategy. Unsuccessful attempts by the bulls to establish themselves above the red EMA and the fair value indicate their weakness. A return to the breakout bar's low near the 1.0575 level is usually used for forming short positions. As long as the pair trades below this level, the focus is on selling. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 16, 2023 23:40:06 GMT -5
USDCHF H4 I Potentail bullish reversal? The USD/CHF chart currently displays bullish momentum, suggesting a possible bounce from the first support towards the initial resistance. The first support at 0.8998 aligns with a prior swing low and the second support at 0.8934 coincides with the 161.80% Fibonacci Retracement, providing strong support potential. On the resistance side, the first resistance at 0.9085 represents a multi-swing high resistance, followed by the second resistance at 0.9116, which is an overlap resistance. Additionally, there's an intermediate resistance at 0.9039, also acting as an overlap resistance. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 18, 2023 0:20:18 GMT -5
Forecast for EUR/USD on October 18, 2023EUR/USD Yesterday, the euro settled above the target level of 1.0552. The Marlin oscillator is also in the positive territory. Now, the price needs to gather strength to overcome the strong resistance level at 1.0613, as at the anticipated breakout point, the level intersects with the Fibonacci Fan line.  Breaching this level opens the next target at 1.0687. This level is also strong because the MACD indicator line is approaching it. This will determine the euro's direction in the medium-term - either a breakout with subsequent target realization, as indicated on the daily chart, or a reversal towards 1.02. On the 4-hour chart, the price has settled above the MACD indicator line, but the attempt to break above the balance line was unsuccessful.  The Marlin oscillator is in the uptrend territory, so we expect the price to try and break above the balance line. Without the price consolidating above the balance line, which requires an impulsive initial rise, overcoming the 1.0613 resistance will be extremely challenging. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 19, 2023 0:37:59 GMT -5
Forecast for EUR/USD on October 19, 2023EUR/USD Yesterday, the euro lacked the courage to initiate consolidation ahead of the strong resistance level at 1.0613. The price retreated from the daily balance indicator line and dropped below the support level at 1.0552. However, the Marlin oscillator managed to stay in the positive territory. Therefore, consolidation to attack the Fibonacci ray at 1.0613 may form above 1.0552.  The reason for this could be today's US data; weekly jobless claims are expected to increase from 209,000 to 212,000, and existing home sales for September could decrease from 4.04 million to 3.89 million. On the 4-hour chart, the price is now below the level of 1.0552 and below the balance and MACD indicator lines. The Marlin oscillator has entered the downtrend territory.  The situation appears bearish, but the general trend may lift the quote above the MACD line, where strategic consolidation will take place. If the price stays below yesterday's low at 1.0524, it could push the euro towards the support level at 1.0483. Below this we can find the price channel line at 1.0456. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 19, 2023 23:52:36 GMT -5
Forecast for AUD/USD on October 20, 2023AUD/USD The Australian dollar continues to consolidate within the 0.6295-0.6388 range, and this consolidation is increasing the bearish potential every day as the Marlin oscillator's signal line tilts downward in a triangle.  Consolidating below the level of 0.6295 means that the next target will be 0.6171. To initiate an upward movement, the price should rise above the MACD line around 0.6426. The first target will be 0.6514, followed by 0.6612.  A downtrend on the 4-hour chart, and there's a low chance of a reversal. The first sign of a reversal would be the price surpassing the previous day's high of 0.6359, which would automatically lead to breaching the MACD line. We await further developments. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 23, 2023 4:46:48 GMT -5
Analysis of Gold for October 23, 2023 - Rejection of the support zone Technical analysis: Gold has been trading upside this morning and I found rejection of the support zone at $1.961 and there is the chance for the higher prices. As long as the support zone around $1.957 can hold, higher prices might be in the play and the test of $1.997. The short-term trend is still to the upside. In case of the downside breakout of the support at $1.1957, there is the chance for the downside movement towards lower reference at $1.937 Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 23, 2023 23:51:24 GMT -5
XAUUSD H4 I Reacting off Resistance? The XAU/USD chart currently shows bearish momentum, suggesting potential further decline towards the 1st support at 1947.23, which aligns with an overlap support. The 2nd support at 1931.57 adds to this bearish outlook as a pullback support. On the resistance side, the 1st resistance at 1984.47 has historically acted as a strong barrier to upward movement, and the 2nd resistance at 2003.60 could provide additional resistance. An intermediate support level at 1963.24 might offer a temporary pause in the bearish trend Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 25, 2023 0:11:31 GMT -5
GBPUSD H4 | Bearish Continuation Expected? The GBP/USD chart currently shows bearish momentum with potential for a bearish continuation towards the 1st support at 1.2106, which aligns with a multi-swing low support. The 2nd support at 1.2049, also a multi-swing low support, adds to its significance as it coincides with the 127.20% Fibonacci Extension level. On the resistance side, the 1st resistance at 1.2270 is characterized as an overlap resistance, while the 2nd resistance at 1.2340 is marked as a swing high resistance. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 26, 2023 0:16:06 GMT -5
USDCAD H4 I Heading into resistance? The USD/CAD chart currently displays bullish overall momentum, with the potential scenario of a bullish continuation towards the 1st resistance level. The 1st resistance level at 1.3848 is identified as a swing-high resistance that aligns with the 127.20% Fibonacci extension level. Higher up, the 2nd resistance level at 1.3919 is marked as a resistance level that aligns with the 161.80% Fibonacci extension level. To the downside, the 1st support level at 1.3786 is identified as a pullback support. Further below, the 2nd support level at 1.3736 is noted as an overlap support, potentially acting as a strong support zone. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 27, 2023 1:48:41 GMT -5
Elliott wave analysis of EUR/USD for October 27, 2023 After a minor correction from 1.0695, EUR/USD is ready for the next push higher towards at least 1.0805 and most likely above here too. In the long term, we are looking for EUR/USD to move towards 1.2085 as the next major upside target as wave 3 gathers strength. Support remains seen near 1.0521 for the next push above 1.0695. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 30, 2023 0:14:43 GMT -5
USDJPY Day I Reacting off resistance level? USD/JPY displays bearish momentum, potentially heading towards the 1st support at 144.94, which aligns with overlap support. On the resistance front, the 1st resistance at 150.30, marked as a multi-swing high resistance, may hinder further upward movement. A 2nd resistance at 152.72, coinciding with the 100% Fibonacci Projection, adds to its potential as a significant resistance zone. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 30, 2023 23:38:58 GMT -5
USDJPY H4 I Falling to support level? USD/JPY indicates bearish momentum with a potential bearish reaction near the 1st resistance at 149.50, leading to a possible decline to the 1st support at 148.92. The 1st support is reinforced by overlap support, while the 2nd support at 148.42 adds further strength to this support zone. On the resistance side, the 1st resistance at 149.50 is significant due to overlap resistance and the 38.20% Fibonacci Retracement, potentially impeding upward movement. The 2nd resistance at 149.97 presents challenges with overlap resistance, the 78.60% Fibonacci Projection, and the 61.80% Fibonacci Retracement, signifying a strong resistance area. Analysis are provided by InstaForex.Read More
|
|
|
|
Post by instaforexgertrude on Oct 31, 2023 23:44:58 GMT -5
Forecast for GBP/USD on November 1, 2023GBP/USD Yesterday, the British pound tried to move towards the target range of 1.2271/87 but stopped by the balance line on the daily chart, just as it was on October 24th. Afterwards, the price returned below the descending price channel line. The signal line of the Marlin oscillator came close to the border of the bearish territory.  In case the Federal Reserve shows a softer stance, the price may reach some bullish targets (1.2271/87, 1.2400). However, the current situation lowers the chances of growth, which warns the speculative nature of the moment. If the price settles below 1.2070, it will likely fall towards 1.1880.  On the 4-hour chart, the price has settled below the balance and MACD indicator lines after a false bullish breakout. The Marlin oscillator has also returned to the bearish territory. As a result of the FOMC meeting, the pound may weaken. Analysis are provided by InstaForex.Read More
|
|
