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Post by instaforexgertrude on Nov 28, 2022 0:55:51 GMT -5
Forex Analysis & Reviews: Forecast for EUR/USD on November 28, 2022Last Friday, the euro touched the lower shadow of the support at 1.0360, this morning it did the same thing. The price needs to settle under this level so it can reach 1.0205, and it will form a double top on the daily chart. But the price is not in a hurry to do so. Therefore, if today closes with a white candle, then there is a high probability of a breakout of 1.0470 and a divergence may form with the Marlin oscillator.  The situation on the weekly chart contributes to the divergence option - here we see that the MACD indicator line still hasn't been reached. But whether it will be reached or not, remains an intrigue.  On the four-hour chart, the price crossed the MACD line on the descending Marlin oscillator. There was a similar transition on Friday, it was not reliable. Now, when the Marlin oscillator is involved, the price has a chance of settling under 1.0360. Watch the situation, for a signal for a short-term growth or a medium-term fall. Analysis are provided by InstaForex.Read More
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Post by instaforexgertrude on Nov 29, 2022 6:28:32 GMT -5
Forex Analysis & Reviews: ETHUSD Potential For Bearish Continuation | 29th November 2022 Looking at the H4 chart, my overall bias for ETHUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market .If this bearish momentum continues, expect price to possibly head towards the 1st support at 1071.11, where the -previous swing low is located. In an alternate scenario, price could possibly head back up towards the 1st resistance level at 1291.84, where the 38.2% Fibonacci line is located. Trading Recommendation Entry: 1302.56 Reason for Entry: 1st resistance line Take Profit:1071.11 Reason for Take Profit: 1st support line Stop Loss: 1677.00 Reason for Stop Loss: Slightly above where the 2nd resistance line is located. *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.Read More
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Post by instaforexgertrude on Nov 30, 2022 22:08:59 GMT -5
Forex Analysis & Reviews: EUR/USD. Overview for December 1, 2022 On Wednesday, there was no movement in the EUR/USD currency pair. We wouldn't have been shocked if this situation had occurred on Monday or Tuesday because there hasn't been a single significant event or report published lately. On Wednesday, there were a ton of macroeconomic statistics. Still, traders paid no attention to the report on European inflation, although it was just as alarming as the last one on American inflation, which sparked this rally. Yet again, we are convinced that the impact of European statistical data on trader sentiment is minimal. But the main point is that quite significant reports from abroad were disregarded yesterday. The ADP report could cause a market reaction if everything in the GDP report is clearer because such reports always come out with three estimates. After the first estimate, it is clear what to expect from the value for a particular quarter. And it's puzzling why the market didn't find anything interesting in them when we consider all the information and data received. As a result, the pair is still relatively close to the moving average line, and it is still determining the direction of its future movement. For the past week and a half, we have been anticipating a significant downward correction, but this calls for a fix that is at least below the moving average. Formally, the consolidation was visible on Tuesday, but 20 points hardly qualify as a confident result. We focus on the second rebound from Murray level "6/8"-1.0498. Two rebounds from this level could signal the start of a corrective movement. As you can see, traders were unmoved by yesterday's data, so we now have to wait for Friday's nonfarm payrolls and unemployment figures. In the third quarter, US GDP increased. Since the GDP report typically includes three estimates, as we mentioned above, traders know what to expect before the second or third estimate is released. However, yesterday's report caught some people off guard because, contrary to expectations of +2.6–2.7% q/q, the actual value was 2.9%. This strong deviation should have benefited the value of the US dollar. Not only was the EU inflation report disregarded, but so was a rather significant GDP with an unexpected value. Even the ADP report received no response. Therefore, even though we think traders still have access to the factors supporting the US currency, they are not yet eager to repurchase the dollar. As a result, the third quarter of the American economy displays very positive dynamics and can easily compensate for the "disadvantages" of the first two quarters. If this occurs, the Fed will have many more opportunities to raise interest rates as much as it wants. It is again good for the dollar because if inflation stops falling, the Fed will still have opportunities to tighten monetary policy more than expected. It will then become very difficult to talk about a recession in the US economy. Additionally, the fact that there isn't a recession is excellent news for the American economy. Similar to how it is for every other economy in the world. For instance, it is unlikely that the European economy will be spared from such "happiness." Additionally, a slower inflation rate in the Eurozone might encourage the ECB to raise the key rate gradually over the next few months. The euro currency may experience the same fate as the dollar, which has been declining for several months due to the Fed's potential decision to raise interest rates more gradually than previously. Although there are more and more signs pointing to a new rise in the dollar's value, more precise technical signals are still needed to test this theory. We will only analyze Jerome Powell's speech today because it is crucial to know how the market will respond. As of December 1, the euro/dollar currency pair's average volatility over the previous five trading days was 103 points, considered "high." So, on Thursday, we anticipate the pair to fluctuate between 1.0331 and 1.0538 levels. The Heiken Ashi indicator's turning downward indicates a new phase of the corrective movement. Nearest levels of support S1 – 1.0376 S2 – 1.0254 S3 – 1.0132 Nearest levels of resistance R1 – 1.0498 R2 – 1.0620 R3 – 1.0742 Trading Suggestions: The EUR/USD pair is still positioned close to the moving average. To avoid the Heiken Ashi indicator turning down, new long positions with targets of 1.0498 and 1.0538 should now be considered. Only after fixing the price below the moving average line with targets of 1.0254 and 1.0132 will sales become significant. Explanations of the illustrations: Linear regression channels help determine the current trend. The trend is strong if both are directed in the same direction. The moving average line (settings 20.0, smoothed) determines the short-term trend and the direction to trade now. Murray levels are target levels for movements and corrections. Volatility levels (red lines) are the likely price channel in which the pair will spend the next day, based on current volatility indicators. The CCI indicator – its entry into the oversold area (below -250) or into the overbought area (above +250) means that a trend reversal in the opposite direction is approaching. Analysis are provided by InstaForex.Read More
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Post by instaforexgertrude on Dec 2, 2022 0:59:01 GMT -5
Forex Analysis & Reviews: Forecast for EUR/USD on December 2, 2022In anticipation of today's US jobs data, on the back of Federal Reserve Chairman Jerome Powell's seemingly not obvious dovish speech, the euro rose 119 pips yesterday. The price crossed the target level of 1.0470, the peak of November 28, and is now heading to the target range of 1.0015/42. The range is defined by the highs of June and May. So far, the price is going with our scenario with forming a divergence when the target range is reached.  On the four-hour chart, there is a sign that a double divergence is forming with the Marlin oscillator. In the current market sentiment, it may mean a pause in growth in anticipation of new important information. That will be the U.S. employment data for November. Forecast is 200,000 new jobs, compared to 261,000 in October. The improving dynamics of weekly unemployment claims and yesterday's drop of the ISM Manufacturing Employment subindex from 50.0 to 48.4 might be weaker than expected. Traders will be waiting for this situation to become clearer.  Analysis are provided by InstaForex.Read More
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Post by instaforexgertrude on Dec 5, 2022 1:15:29 GMT -5
Forex Analysis & Reviews: Technical Analysis of Daily Price Movements of Crude Oil Commodity Assets, Monday, December 05 2022. On the daily chart, the Crude Oil commodity asset can be seen that Friday's bar has a Close that overlaps with the PL Dots so that it forms a Support/Block area at Friday's low to push up Crude Oil's movement on Monday Dec 05, 2022 as for Crude Oil on Monday is predicted to be pushed by market players to the Projection High area at the 81.57 level. If this level is successfully broke, then the 82.20 level which is the Sacrosanct Level / Halo will be the main target to be broke upwards as long as the 79.66 block area is not penetrated below. *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.Read More
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Post by instaforexgertrude on Dec 5, 2022 22:32:52 GMT -5
Forex Analysis & Reviews: Forecast for AUD/USD on December 6, 2022By the end of Monday the dollar index gained 0.78%, oil prices fell by 3.66% and the Australian dollar fell by 1.37%. The price overcame the support at 0.6730 and now it is trying to increase in today's Asian session, but without losing the opportunity to settle below the level.  The price can reach the target support at 0.6642, in case it overcomes yesterday's low at 0.6688, in which case the signal line of the Marlin oscillator will break through the zero line and move into the territory of the downtrend. Divergence continues to exert its effect on the price.  On the four-hour chart, the price settled under the MACD line and under the level of 0.6730. Also, the Marlin oscillator settled in the negative territory. By cumulative circumstances of both charts, the bears have advantages. We wait for things to progress and AUD to reach the target support at 0.6642. *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.Read More
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Post by instaforexgertrude on Dec 7, 2022 0:47:24 GMT -5
Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of the GBP/AUD Cross Currency Pair Wednesday, December 07, 2022. With the GBP/AUD price movement on the daily chart still moving above its 50 MA and the formation of the Bullish 123 pattern followed by Ross Hook (RH) it can be seen that buyers are still dominating this cross currency pair but it seems that in the near future it will be corrected slightly to the level 1.7916 but please pay attention as long as the downward correction does not exceed the 1.7700 level, then you can be sure that GBP/AUD is still in a bullish condition and will try to test the 1.8256 level. (Disclaimer) *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.Read More
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Post by instaforexgertrude on Dec 8, 2022 3:39:38 GMT -5
Forex Analysis & Reviews: Trading Signal for GOLD (XAU/USD) on December 08-09, 2022: buy above $1,775-1,781 (+1/8 Murray - uptrend channel) XAU/USD is trading around 1,782, above the 21 SMA showing a bullish bias. It is likely that if gold consolidates above this area, it could reach the zone of 1,803 and even reach +2/8 Murray located in 1,812. Investors are worried as Vladimir Putin said the threat of nuclear war is growing, suggesting they would use nuclear weapons in response to an attack on his country. This news could increase risk aversion and investors could take refuge in gold. hence, the price could reach levels of 1,850, even quickly climbing as high as the landmark level of 1,900. Risk aversion could increase, causing investors to be very cautious. This is due to negative data from China, raising concerns about a global recession. This assures investors to take refuge in gold and the price could increase only if it consolidates above the psychological level of 1,800 -1,812. Yesterday in the American session, gold quickly rose above the uptrend channel, breaking the 21 SMA (1,780) and reaching the swing high of 1,788.06. The asset is currently consolidating above the key level of 1,781 (21 SMA), suggesting that if it settles above this area, the price could resume the bullish cycle in the next few hours. In the next few hours, we expect XAU/USD to trade above 1,781 and reach the resistance of 1,803 and even the high of Dec 5 at 1,810. On the other hand, in case of a technical bounce around the uptrend channel formed since November 22, we will have an opportunity to buy around 1,775. A close on the 4-hour chart below 1,770 and a sharp break of the uptrend channel are critical to trigger further declines in gold. The metal could quickly reach the 8/8 Murray (1,750) and even the 200 EMA located at 1,736. Our trading plan for the next few hours is to buy gold above 1,781 or in case of a technical bounce around 1,775, with targets at 1,803 and 1,812. *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.Read More
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Post by instaforexgertrude on Dec 9, 2022 4:12:42 GMT -5
Forex Analysis & Reviews: Technical Analysis of GBP/USD for December 9, 2022Technical Market Outlook: The GBP/USD pair has been seen bouncing up from the technical support located at 1.2106 and is moving closer to the swing high located at 1.2343. The momentum remains strong and positive which supports the short-term bullish outlook for GBP. The nearest technical support is still seen at 1.2106, so in a case of an unexpected breakout lower, the next target for bears is seen at 1.1897 (30th November low). Also, please notice the Bearish Divergence between the price and the momentum indicator that might have an impact on the next bearish movement.  Weekly Pivot Points: WR3 - 1.24283 WR2 - 1.23713 WR1 - 1.23415 Weekly Pivot - 1.23143 WS1 - 1.22845 WS2 - 1.22573 WS3 - 1.22003 Trading Outlook: The bulls are temporary in control of the market and the 50% Fibonacci retracement of the last big wave down located at 1.2293 had been tested, so a down trend resumption is possible. On the other hand, the level of 1.0351 has not been tested since 1985, so the down trend is strong. In order to terminate the down trend, bulls need to close the weekly candle above the level of 1.2275 (swing high from August 10th). *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.Read More
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Post by instaforexgertrude on Dec 12, 2022 1:14:49 GMT -5
Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of Major Currency Pairs GBP/USD, Monday, December 12 2022. On the daily chart the main GBP/USD currency pair is starting to show signs of saturation over the rally that occurred over the previous few days, as reflected in several things: 1. 1.2296 is difficult to break upwards 2. The appearance of the Bearish = Rising Wedge pattern. 3. Formation of a Bearish pattern 123. 4. The appearance of Bearish Wiseman 1 & 2 signals. Therefore, in the next few days, as long as Cable does not reverse its rally up above the 1.2344 level, this major currency pair still has the potential to depreciate to the 1.2045 level as its main target and if the decline has quite high volatility then it is possible that the 1.1777 level will become next target to go to. *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.Read More
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Post by instaforexgertrude on Dec 13, 2022 0:12:33 GMT -5
Forex Analysis & Reviews: Forecast for EUR/USD on December 13, 2022Investors raise their expectations this week, in which several central banks meetings (Federal Reserve, European Central Bank, Bank of England) are held, given the ongoing divergence between central banks' monetary policies. The Fed will become softer, while the ECB will be more hawkish. Formally, the forecast for a rate hike by all central banks is the same - 0.50%, but there has been so much talk about a surprise from the ECB that a 0.75% hike has become a forecast rather than a surprise. And that's why the euro closed Monday at the opening level despite the decline of other counter-dollar currencies.  This morning, the price is trying to rise. Today's main event will be the US inflation report for November. CPI is expected to decline from 7.7% y/y to 7.3% y/y. The euro has a chance to reach the target range of 1.0615/42. If the divergence in the sentiment of the central banks is really strong, the euro may go higher, to the range of 1.0758/87 (highs in May and June). On the four-hour chart, the price failed to fall under support of the MACD line. The last reversal from it occurred this morning. The Marlin oscillator is shifting to the upside. We expect the price to reach the first target range of 1.0615/42.  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.Read More
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Post by instaforexgertrude on Dec 14, 2022 6:11:13 GMT -5
Forex Analysis & Reviews: Gold to outperform Bitcoin in the long term Goldman Sachs called gold a "more useful portfolio diversifier" and said it will outperform Bitcoin in the long term. They explained that real demand for the metal is not as affected by tightening financial conditions as the world's largest cryptocurrency, not to mention it has clear non-speculative uses unlike Bitcoin, which traders view as a stock for fast-growing technology companies. Gold is also used as a hedge against dollar devaluation and inflation. Of course, Bitcoin could still be used as a hedge, especially since its potential comes from future use cases. But this makes it much more volatile and speculative compared to gold. Also, it surged when investors became interested in decentralized currencies, however, tighter financial conditions will not work in favor of cryptocurrency. Bitcoin's downward volatility has also been boosted by systemic concerns as several major players have declared bankruptcy. Latest data indicates that spot gold is up 0.23% y/y, while Bitcoin is down 63%. Going forward, gold is likely to get a boost from additional macroeconomic volatility. It could benefit from structurally higher macroeconomic volatility and the need to diversify its equity investments. Tighter liquidity should also have less impact on gold, which is more exposed to real drivers such as demand. These include physical demand, central bank purchases (which have been on record this year), investments in safe-haven assets and industrial applications. *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.Read More
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Post by instaforexgertrude on Dec 15, 2022 1:05:06 GMT -5
Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Nasdaq 100, Thursday December 15, 2022. Although on its 4 hour chart Nasdaq 100 index seems move in a ranging condition but with the appearance of: 1. The deviation between price movement with CCI indicator. 2. The appearance of Bearish 123 pattern. 3. Followed by the appearance of Ross Hook (RH). Based on three things above then in a nearest term #NDX has a potential to try to go down to test the Bearish Ross Hook level at 11608.9 if this level is successfully broken then the next level to go to is 11410.1 but if on the way to these levels there is a sudden upward correction to pass the 12007.9 level then the scenario of a decline has been described earlier will cancel by itself. (Disclaimer) *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.Read More
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Post by instaforexgertrude on Dec 16, 2022 2:44:00 GMT -5
Forex Analysis & Reviews: Trading Signal for GOLD (XAU/USD) on December 16-19, 2022: sell below $1,794 (5/8 Murray - 21 SMA) Early in the European session, gold (XAU/USD) is trading around 1,781, bouncing after hitting the low at 1,773.67. XAU/USD is trading below the uptrend channel and below the 21 SMA (1.795). The 4-hour chart shows further downside potential. The gold price is trading in the area of strong bearish pressure. If the price consolidates below of 1,790, it could reach the level of 200 EMA around 1,754. Since its maximum reached at 1,824 on Tuesday, gold has lost more than $50, so this weekly drop could be a sign of a probable change in trend in the short term. Gold is expected to continue its bounce in the next few hours and can reach the area of 1,790 - 1,795. Around this level, there will be a clear signal to sell with targets at 1,781-1,755. In case the bearish pressure persists, XAU/USD is expected to trade below the 5/8 Murray located at 1,781 and may continue to decline in the coming days until it reaches the 4/8 Murray area around 1,750. Our trading plan is to sell gold below 1,795, targeting 1,780 at 1,754. The eagle indicator is giving a negative signal which supports our bearish strategy. *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.Read More
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Post by instaforexgertrude on Dec 19, 2022 2:51:05 GMT -5
Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of USD/CAD Commodity Currency Pairs, Monday, December 19 2022. If you pay attention to the daily chart, the USD/CAD commodity currency pair appears to be stuck in the weekly Resistance Orderblock area which is quite significant at 1.3702 where at the same time a Double Top pattern (Cyan circle) is formed which is also followed by a deviation between its price movement and the Awesome Oscillator indicator, in addition to the emergence the Ascending Broadening Wedge pattern is also strengthening if in the next few days The Loonie will be brought down to the level of 1.3225 but with a note that during the fall there was no significant upward correction movement that exceeded and penetrated above the 1.3750 level because if this level is successfully broken above, the decline scenario described previously will become invalid and cancel by itself. *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.Read More
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