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  1. #1281
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    Technical Analysis of BTC/USD for August 7, 2020:

    Crypto Industry News:
    Someone with access to 119,756 Bitcoins stolen from the Bitfinex cryptocurrency exchange in 2016 transferred $ 12 million to unknown wallets in the last six days.

    According to a series of tweets posted by Whale Alert on Twitter on August 3, wallet addresses known to be linked to one of the largest attacks in the history of cryptocurrency exchanges resulted in the transfer of 620 Bitcoins - with a current value of around $ 7 million - using 4 transactions. On July 29, nearly $ 5 million - or 448 BTC - was transferred in a single transaction. Coupled with the last move of $ 39 million from July 27-28, this is about $ 51 million in Bitcoin that was transferred in over 17 transactions during the week.

    On August 2, 2016, hackers compromised Bitfinex by stealing 119,756 BTC - worth $ 72 million at the time. After four years and recent growth movements, their total value is now $ 1.3 billion.

    However, despite the recent movement of $ 51 million, burglars only transferred 1-2% of stolen funds. This suggests that criminals may struggle as they enforce the new anti-money laundering (AML) laws.

    Technical Market Outlook:
    The BTC/USD pair keeps hovering around this year's highs and the market sentiment is clearly bullish. The price has broken out from a narrow zone located between the levels of $10,895 - $11,317 and then the local high was made at the level of $11,738 on increased momentum, so bulls are showing their strength. The next target for bulls is of course the last yearly high seen at the level of $12,035. The immediate support for the intraday traders are seen at the levels of $11,646, $11,395 and $11, 317. The volatility is now quite subdued, but it might increase again once any important technical level is tested and broken.

    Weekly Pivot Points:
    WR3 - $14,325
    WR2 - $13,003
    WR1 - $12,116
    Weekly Pivot - $10,976
    WS1 - $9,784
    WS2 - $8,681
    WS3 - $7,717

    Trading Recommendations: Due to the level of $12,000 violation, the Bitcoin is now in the up trend on the long-term time frame. The next target for bulls is seen at the level of $13,712 and $15,000. The key long-term technical support is located at the level of $7,897, but the zone around $9,500 - $10,500 is an important technical support as well.

    Analysis are provided by InstaForex

  2. #1282
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    Technical Analysis of GBP/USD for August 10, 2020:

    Technical Market Outlook:
    The GBP/USD pair has been seen moving lower in the recent pull-back. The bears has hit the level of 1.3008 and then the bulls has pushed the rate back towards the level of 1.3067. This is where the Pound starts the early Monday trading and overall is still consolidating the gains despite the recent local pull-backs. The key technical support is seen at the level of 1.2979, so as long as the market trades above it, the odds for another wave up are high.

    Weekly Pivot Points:
    WR3 - 1.3353
    WR2 - 1.3261
    WR1 - 1.3146
    Weekly Pivot - 1.3060
    WS1 - 1.2937
    WS2 - 1.2860
    WS3 - 1.2735

    Trading Recommendations:
    On the GBP/USD pair the main trend is down, which can be confirmed by the down candles on the weekly time frame chart. The key long-term technical support is seen at the level of 1.1404. The key long-term technical resistance is seen at the level of 1.3518. Only if one of these levels is clearly violated, the main trend might reverse (1.3518) or accelerate (1.1404).

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  3. #1283
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    Forecast for EUR/USD on August 11, 2020

    EUR/USD
    The euro is slowly moving towards its target at 1.1620 (high on October 16, 2018). The Marlin oscillator is declining, remaining in the positive trend zone. As the price moves below the target level of 1.1620, Marlin will obviously already be in a negative, that is, a downward trend. As a result, we are waiting for the new downward movement to strengthen in a new emerging trend. After the price leaves the area below 1.1620, the second target at 1.1490 will open, where the price can meet the MACD line.

    The decline is taking its course on the four-hour chart; the price is below the balance indicator lines (the balance has strengthened in a downward direction), the MACD line is moving down, that is, the medium-term trend has changed to a downward one. Marlin is also slowly deepening into the zone of negative values, into the zone of the bears' possession.

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    Forecast for EUR/USD on August 12, 2020

    EUR/USD
    The euro and other counterdollar currencies rallied during the first half of Tuesday, on what appears to be profit taking in the first short sales since Friday. The ZEW economic sentiment index in Germany jumped from 59.3 to 71.5 in August against expectations of 58.0 points. The index was higher only in February 2004 (72.9). But this indicator, and especially at this time, has a strong psychological component; it is compiled on the basis of surveys of business representatives who, as always, expect an improvement in their prospects. This was confirmed by the index of current economic conditions ZEW, which showed a drop in the index from -80.9 to -81.3, and against the forecast of growth to -68.8.

    The dollar went on the offensive in the afternoon and as a result the euro closed the day at the opening price. The situation has not changed for the euro on the technical side, the price is heading towards its 1.1620 target. The Marlin oscillator is even closer to the border of the negative trend territory. Its introduction will ease the euro's fall.

    Yesterday's growth stopped by the target level of 1.1806 on the four-hour chart. The level has confirmed its strength, now the price can have no doubts about choosing a direction. The first target is 1.1620.

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  5. #1285
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    Control zones for EURUSD on 08/13/20

    We are testing the WCZ 1/2 1.1811-1.1802 today, which is a defining moment when building a trading plan. If today's trade closes below the zone, then sales of the instrument will come to the fore, and the first target of the fall will be the current week's low.

    Working in a downward direction will make it possible for us to continue forming a downward compensatory pattern, the goal of which is to return to the monthly control zone in July.

    If today's trade closes above the WCZ 1/2, it will enable us to look for purchases at tomorrow's European session. The growth target will be the weekly CZ 1.1911-1.1893. Working in an upward direction will not violate the accumulation zone that has already formed. The main growth boundary is still the monthly high.

    .Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.

    Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.

    Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

    Analysis are provided by InstaForex

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    Forecast for EUR/USD on August 14, 2020

    EUR/USD
    The euro's 28 points gain from yesterday plunged into a wide range of uncertainty and wandered through 1.1710-1.1906. The Marlin oscillator is directed downwards on the daily chart, and the price is exactly at the 1.1806 target level. The price could reach the upper border of the price channel at 1.1906 without a critical upward reversal of the oscillator. The price may even cross this border and a double divergence will not form according to the oscillator, which creates increased uncertainty for the currency pair.

    For a medium-term downward movement, it is no longer enough for the price to gain a foothold below the 1.1806 level, it should consolidate below the lower border of the 1.1710 range.

    The situation is no less uncertain on the four-hour chart. The Marlin oscillator is in the growth zone, the price is above the balance line, but below the MACD line.

    Trading the euro today and even on Monday is associated with increased risk.


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    Forecast for EUR/USD on August 17, 2020

    EUR/USD The euro continued to develop in the uncertain range of 1.1712-1.1903 on Friday. The euro will continue to increase if the price goes above the upper limit of the price channel at 1.1903, and in this case, the target range will be 1.2040/55. Historically, the range corresponds to the low of July 2012. The price reaching the specified range can also mean that a double diverenge on the Marlin oscillator can form. That is, the euro growing by two figures will not cancel the main scenario of a currency reversal in the medium and long term.

    The price falling below the lower border of the range will mean that it is out of the free roaming zone and the first target will be the level of 1.1620, then 1.1490. The price divergence with the Marlin oscillator will increase, the signal line will enter the zone of negative values, and this will lead to an accelerated fall in the euro.

    The price consolidated above the MACD indicator line on the four-hour chart, Marlin is also in the growth zone, which together maintains an increased probability of growth to 1.1903. Nevertheless, since the price is in the free roaming zone, it can once again go under this line, as it was on August 13-14. We are waiting for the development of events.

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    Forecast for USD/JPY on August 18, 2020

    USD/JPY
    The Japanese yen sharply accelerated the pace of its strengthening (decline on the chart) after breaking the MACD line on a daily chart. There are about 20 points left to the nearest goal along the 105.45 price channel. The signal line of the Marlin oscillator has entered the negative trend zone, which creates the risk of continuing to pull down the price to the second target of 104.60.

    The price has consolidated below the MACD indicator line on the four-hour chart, which also increases the likelihood of overcoming the 105.45 level. But the Marlin oscillator is already entering the oversold zone, which may be a signal for a reversal from the first target level of 105.45.

    So: if the price settles below the 105.45 level, we are waiting for the price to fall to the second target of 104.60, consolidating the price above 106.12 will mean restoring growth to 106.70 with a repeated attempt to overcome 107.00.

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  9. #1289
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    Analysis and trading recommendations for the EUR/USD pair on August

    Trading recommendations for EUR / USD on August 19 Analysis of transactions Bulls were active at the level of 1.1895 yesterday, as a result of which the quote reached the target level of 1.1933. Such brought profit of about 35 pips within the day.

    This sharp rise in the euro came after US Treasury Secretary Steven Mnuchin said that there was no expected progress in the negotiations between Republicans and Democrats with regards to a new stimulus package.

    Set up buy deals when the quote reaches the price level of 1.1954 (green line on the chart), targeting a rise towards the level of 1.1999. The increase may occur, on the grounds of good inflation data in the eurozone. Take profit at the level of 1.1999. Meanwhile, sell positions after the quote hits a price level of 1.1911 (red line on the chart), aiming a drop to a price of 1.1858. However, such a scenario has a low chance of occurring since aside from inflation data, the latest Fed protocol will also be published today, the contents of which is forecast to put additional pressure on the US dollar. Nonetheless, take profit at the level of 1.1858.

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    Forecast for GBP/USD on August 20, 2020

    GBP/USD After the British pound gained 135 points on Wednesday and Thursday, this growth was offset by a fall of 140 points. This figure of two extreme candlesticks is called the pattern of rails, a reversal pattern. Also, the Marlin Oscillator formed a divergence with the price.

    The closest target for the pound is the 61.8% Fibonacci level at 1.3026, where the British currency has already found support in the period from August 3 to 13. That is, the level is strong enough, and breaking it will send the price to the second target of 1.2912 (76.4% Fibonacci). The main struggle will unfold on the daily MACD line in the 1.2812 area, which is also the price peak from June 10. Overcoming this level reveals the scenario of a medium-term fall of the British currency.

    The price settled below the Fibonacci level of 50.0% on the four-hour chart and below the MACD indicator line, which clears the way for the price to 1.3026.


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  11. #1291
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    Technical Analysis of EUR/USD for August 21, 2020

    Technical Market Outlook:
    The EUR/USD pair has bounced from the level of 1.1803 which is still a technical support for the price and had retraced 50% of the last wave down already. The momentum is positive and the market is bouncing from the oversold conditions, so another wave up is still on the table befroe the week ends. The next target for bulls is seen at the level of 1.1908 - 1.1915 and the immediate technical support is located at the level of 1.1822, 1.1813, 1.1803 and 1.1790. The larger time frmae trend remains up.

    Weekly Pivot Points:
    WR3 - 1.2065
    WR2 - 1.1962
    WR1 - 1.1908
    Weekly Pivot - 1.1808
    WS1 - 1.1753
    WS2 - 1.1661
    WS3 - 1.1600

    Trading Recommendations:
    On the EUR/USD pair the main trend is up, which can be confirmed by 8 weekly up candles on the weekly time frame chart and 3 monthly up candles on the monthly time frame chart. This means any corrections should be used to buy the dips. The key long-term technical support is seen at the level of 1.1445. The key long-term technical resistance is seen at the level of 1.2555.

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  12. #1292
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    Technical Analysis of EUR/USD for August 24, 2020

    Technical Market Outlook:
    The EUR/USD pair dropped below 61% Fibonacci retracement level again and made a new local low at the level of 1.1754. The market is still in a horizontal trading range, so the bulls still have a chance to bounce higher. The next target for them is seen at the level of 1.1822 and 1.1882. In order to make a new high, the bulls will have to break through the short-term trend line resistance seen at the level of 1.1900. The immediate technical support is located at the level of 1.1720 and 1.1710. The larger time frame trend remains up.

    Weekly Pivot Points:
    WR3 - 1.2107
    WR2 - 1.2031
    WR1 - 1.1883
    Weekly Pivot - 1.1825
    WS1 - 1.1682
    WS2 - 1.1616
    WS3 - 1.1470

    Trading Recommendations:
    On the EUR/USD pair the main trend is up, which can be confirmed by 8 weekly up candles on the weekly time frame chart and 3 monthly up candles on the monthly time frame chart. This means any corrections should be used to buy the dips. The key long-term technical support is seen at the level of 1.1445. The key long-term technical resistance is seen at the level of 1.2555.

    Analysis are provided by InstaForex

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    Technical Analysis of ETH/USD for August 25, 2020

    Crypto Industry News:

    Coinbase and Apple are still not getting along months after Coinbase warned customers it might remove the app from the Apple Store.

    Coinbase CEO Brian Armstrong tweeted that Apple continues to block some cryptocurrency features, including the ability to make money and unlimited decentralized applications (dApp) of the browser:

    "Apple has been very restrictive and hostile to cryptocurrencies over the years. They still block some features now, including the ability to make money with cryptocurrency through task execution and unlimited Dapp browsers," Armstrong said.

    In December, Coinbase warned its customers that it might be necessary to remove the dApp browser from its app to comply with Apple App Store policies. At the time, both Apple and the Google Play Store with Android apps wanted to remove dApps from their network.

    Apple, especially its App Store, has been under fire recently due to unfair terms it imposes on app developers and publishers. The Wall Street Journal, The New York Times and game developer Epic Games have called on Apple to find fairer conditions for developers.

    Technical Market Outlook:
    The ETH/USD pair has hit the target seen at the level of $407.03 - $414.11 with a local top at the level of $409.67 and then was capped. Currently, the price is trading below the level of $400 and the next target for bears is seen at the level of $396.45 (itraday techncial support). The momentum keeps increasing as the market bounces from the oversold conditions as well. All the bigger time frame charts looks very bullish and the up trend should be continued after the correction is completed.

    Weekly Pivot Points:
    WR3 - $491.79
    WR2 - $470.70
    WR1 - $424.12
    Weekly Pivot - $402.20
    WS1 - $357.21
    WS2 - $333.72
    WS3 - $286.54

    Trading Recommendations:
    The weekly and monthly time frame trend on the ETH/USD pair remains up and there are no signs of trend reversal, so buy orders are preferred in the mid-term. All the dynamic corrections are still being used to buy the dips. The next mid-term target for bulls is seen at the level of $500. The key mid-term technical support is seen at the level of $364.95.

    Analysis are provided by InstaForex

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    Forecast for USD/JPY on August 28, 2020

    USD/JPY
    The yen managed to gather strength and reach the nearest target of 106.65 even faster than we expected – we were waiting for the price at this level today, but it hit the level on Thursday. At the moment, the price is already attacking the target level of 107.00. The Marlin oscillator is on a path of optimal growth, price left above balance indicator line (red) that speaks about the growth's strength and, accordingly, we expect the nearest level to be overcome and also a short correction from the second target of 107.35, that is, from the upper borders of consolidation 9-22 July.

    The price settled above both indicator lines on the four-hour chart, the Marlin oscillator is growing, and we are waiting for the price to continue growing to the specified levels.

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    Control zones for GBPUSD on 08/31/20

    Friday's growth will continue the upward priority pattern. Any reduction in part of Friday's movement will be corrective and will make it possible for you to get the best prices on long deals. The nearest support is WCZ 1/4 1.3248-1.3238. Testing this zone should be considered as an opportunity to buy the British pound.

    Growth can continue without forming a deep correction pattern. The nearest target for taking part of the profit is the WCZ 1/2 1.3438-1.3417.

    To reverse the upward momentum, it will require absorbing Friday's growth and closing today's trading below Friday's low. The probability of this event is less than 20%, which makes this model unprofitable for termination, and sales go into the background and can not be considered today.

    Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
    Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.
    Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

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    Forecast for USD/JPY on September 1, 2020

    USD/JPY
    USD/JPY gained 54 points on Monday. Having reached the balance line on the daily chart, the price turned down from it. The decline intensified during today's Asian session. It is very likely that our fears about the price falling to support the lower border of the price channel towards the 104.90 level is turning into the main scenario. The signal line of the Marlin oscillator returns to the area of negative values again.

    The price turned away from the balance line on the four-hour chart, which is very indicative that the trend has not gone upward. Also, Marlin did not try to enter the growth trend zone. We are waiting for the price to decline further, the target is 104.90.

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    Forecast for EUR/USD on September 3, 2020

    EUR/USD
    The euro continues to decline in the uncertainty range of 1.1710-1.1905. The double divergence on the Marlin oscillator is unfolding in full force on the daily chart, the indicator is already in the negative zone, which further increases the technical pressure on the price.

    We are waiting for the price at the lower border of the range, at which the MACD indicator line is already located. Setting the price below it will become a condition for the mid-term fall of the euro.

    The price settled below the balance (red) and MACD (blue) indicator lines on the four-hour chart. Marlin is in the negative zone. The situation is completely decreasing in this timeframe. The target for the decline is 1.1710.

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    Technical Analysis of GBP/USD for September 4, 2020

    Technical Market Outlook:
    The GBP/USD pair has felt out of the parallel channel and made a new local low at the level of 1.3241, slightly below the 50% Fibonacci retracement seen at the level of 1.3266. The next technical support is seen at the level of 1.3215 and 1.3183. This is the immediate support for bulls and a clear violation of this level will be an intraday bearish signal. Weekly and monthly time frame trend remains up, so if the bullish pressure sustain, then the next target for bulls is seen at the level of 1.3447. Please notice, the market conditions are now oversold on the H4 time frame chart, so after a spike down a relief rally might occur.

    Weekly Pivot Points:
    WR3 - 1.3797
    WR2 - 1.3564
    WR1 - 1.3482
    Weekly Pivot - 1.3256
    WS1 - 1.3192
    WS2 - 1.2962
    WS3 - 1.2882

    Trading Recommendations:
    On the GBP/USD pair the main, multi-year trend is down, which can be confirmed by the down candles on the monthly time frame chart. Nevertheless, the recent rally form the multi-year lows seen at the level of 1.1404 has been successful and the trend might be reversing. The key long-term technical resistance is seen at the level of 1.3518. Only if one of these levels is clearly violated, the main trend might reverse (1.3518) or accelerate towards the key long-term technical support is seen at the level of 1.1404.

    Analysis are provided by InstaForex

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    Forecast for AUD/USD on September 8, 2020

    AUD/USD
    The Australian dollar is on the MACD line on the daily chart. Setting the price below it can trigger a medium-term decline with a movement of about 4.5-5 figures. A condition that can confirm the medium-term decline is when the price leaves the area below the low of 0.7223. The first target will be the August 3 low at 0.7075. Also, in order for the price to confidently settle under the MACD line (0.7277), the aussie needs the signal line of the Marlin oscillator to fall into the zone of negative values.

    The situation is also neutral on the 4-hour timeframe. The price is consolidating at the 0.7277 level. The Marlin oscillator moves gently, it can lie in the horizon without entering the growing trend zone. We are waiting for the development of events.

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    Forecast for GBP/USD on September 14, 2020

    GBP/USD
    The pound sterling was not able to develop a corrective growth last Friday, so it ended the day by falling, but the correction receives a new impetus today in the Asian session, the price went above the 1.2812 level, heading towards the 1.2912 correction target at the 76.4% Fibonacci level. The signal line of the Marlin oscillator is moving up, which is a signal for a correction.

    The price continues to converge with Marlin on the four-hour chart. We are waiting for the correction to end at the target level of 1.2912, and then a reversal into a new downward trend with targets at 1.2725, 1.2645.

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