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Forex Analysis & Reviews: Forecast for EUR/USD on February 10, 2022
Today, the US will release data on inflation for January. Monthly CPI growth is projected to increase by 0.5%, the annual rate is expected at 7.3% against 7.0% y/y a month earlier. Core CPI is expected to rise to 5.9% y/y against 5.5% y/y in December. The first sign that the big players were tired of buying the euro against the data appeared last Friday and this Monday - the euro did not settle in the 1.1450/96 range with the release of strong US employment data. Now, if inflationary indicators turn out to be no worse than forecasted, we can expect the euro to fall. The target remains the same – 1.1300 – the August 2018 low. Below this level is the MACD indicator line, which is an independent support.
Also in favor of the fall is the increasing convergence of the price with the Marlin Oscillator. In general, the convergence is not strong, therefore, if the signal line of the oscillator does not go into negative territory during the price decline, the price and the oscillator may turn into a medium-term increase, as shown on the daily chart by a dashed line.
The downward trend is intensifying on the H4 chart. The price has lost momentum, has not consolidated in the range of 1.1450/96, the Marlin Oscillator is developing a decline in the downward trend zone. But the price still has support, up to the level of 1.1300 – the MACD line on H4 in the area of 1.1340. In the end, it may turn out that the bulls' affairs are not so bad. And if the euro may fall by today or tomorrow, then next week investors may again show interest in risk.
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Forex Analysis & Reviews: Forecast for USD/JPY on February 11, 2022
The dollar's effort to settle above the MACD indicator line on the daily chart of the USD/JPY pair was not in vain - yesterday the price jumped by 86 points, closing the day with a rise of 52 points. Now the way for the dollar to the line of the price channel of the monthly chart in the area of 117.17 is open.
On the four-hour chart, visually stable growth continues in the price channel. The Marlin Oscillator is in no hurry to grow, which allows the price to reach the lower border of the price channel either by a small correction, or by a sideways movement - by consolidation. Next, we are waiting for a new wave of growth.
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Forex Analysis & Reviews: Forecast for AUD/USD on February 14, 2022
The Australian dollar fell by 30 points on Friday. As a result, we got the following technical picture: the signal line of the Marlin Oscillator made a false exit above the zero line (this moment is marked with a tick), thus forming the upper limit of its own descending channel. This channel has a middle line, which corresponds to the target level of 0.7065. We believe that the price will hesitate a bit at this level, but then it will continue to decline towards the target of 0.6950, which (in visual estimation) will correspond to the lower border of the oscillator's descending channel.
On the four-hour chart, the Marlin Oscillator also made a false exit above the zero line (tick), and the price is now attacking the support of the MACD line (0.7115). Now the aussie's closest target is the level of 0.7065.
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Forex Analysis & Reviews: Forecast for USD/JPY on February 15, 2022
On Monday, under the influence of external markets, the USD/JPY traded in a large range of 74 points, closing the day was a white candle, but the price could not effectively overcome the resistance of the MACD line. In today's Asian session, the body of yesterday's candle is already covered by a black candle. The Marlin Oscillator resumes its attack on the border with the territory of the downward trend, the divergence persists. The target of the medium-term movement is the line of the price channel of the monthly chart in the area of 113.33.
On the four-hour chart, after yesterday's short-term exit of the price above the MACD line, the price has already settled below it. The Marlin Oscillator turned down without leaving the territory of the downward trend. Looking forward to further price cuts.
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Forex Analysis & Reviews: Forecast for EUR/USD on February 16, 2022
Yesterday, the euro rose by 53 points as a correction from the support of the MACD line. At the moment, the signal line of the Marlin Oscillator is turning down from the zero line, which creates a sign of the completion of this correction, followed by a repeated attack on the MACD line. The 1.1300 target level is being modified to the 1.1280 level – Monday's low. Consolidation below the level opens the way for further decline to the target level of 1.1060. The exit of the price above the December 31 high at 1.1387, as above the upper limit of the consolidation of December 2021, may extend the euro's growth to the level of 1.1496, and overcoming it opens the way to the target range of 1.1700/22.
The price is turning down from the MACD line on the four-hour chart. At the same time, the signal line of the Marlin Oscillator is also turning down from the zero neutral line. Here we see a simultaneous (expected) Marlin reversal from the zero line on both scales, which strengthens the signal. The main scenario remains down.
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[B]Forex Analysis & Reviews: Forecast for EUR/USD on February 17, 2022
The euro rose by 13 points on Wednesday, testing the signal level of 1.1387 (high on December 31), the exit above which opens the bullish target level of 1.1496. The Marlin Oscillator moved into the positive area. Conditions for further growth are almost ready. But the price is currently in the range of nearly a two-month consolidation at the end of 2021, near its upper border (1.1387), so there are probably forces on the market that can return the price to a certain neutral state, to the middle of the range, below the level of 1.1330, in order to once again clarify the general geopolitical situation and the mood of the Federal Reserve.
The MACD line is strong on the four-hour scale; it prevents the price from overcoming the level of 1.1387, despite the actively growing Marlin Oscillator. Here we also note that the price is below the balance line, that is, the euro growth of the last three days was corrective. So, at the moment, the euro has a sideways trend.
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Forex Analysis & Reviews: Forecast for AUD/USD on February 18, 2022
The Australian dollar failed to reach the target level of 0.7227 yesterday - external markets did not allow it to reach the level by only nine points; S&P 500 lost 2.12% yesterday, the US dollar index showed zero change, copper lost 0.49% of its value. But on a daily scale, the price managed to stay above the MACD indicator line until this morning, the Marlin Oscillator is in the positive area, so the aussie's growth potential is still not exhausted. Another thing is whether investors will want to once again outperform the market when a double Federal Reserve rate hike in March is in the air. But we can also talk about a fall to the target level of 0.7065 only when the price settles under the MACD line, which can happen no earlier than Monday.
AUD/USD maintains its full upward trend on the 4-hour chart – the price is above both indicator lines, the Marlin Oscillator is in the positive area. A downward signal will be the price moving under the MACD line below 0.7157.
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Forex Analysis & Reviews: Forecast for EUR/USD on February 21, 2022
The euro fell by 39 points on Friday, clearly defining the downward direction, confirmed by a sharp downward reversal of the Marlin Oscillator on the daily scale chart. Since the movement is strong, we expect the support of the 1.1280 target level (February 14 low) to be broken, which coincides with the MACD indicator line. The price drop below the indicated level opens the target at 1.1060.
But today is a public holiday in the US, and although the price almost won back Friday's fall in the morning, we do not expect the price to break above the signal level of 1.1387.
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Forex Analysis & Reviews: Forecast for AUD/USD on February 22, 2022
Yesterday, the Australian dollar once again tried to reach the target level of 0.7227, the high of the day was 0.7224, and the closing of the daily candle, like the last three days, was under the indicator balance line. This may mean that the bulls potentially do not have the strength to break through the resistance of 0.7227. The price decline under the MACD line, breaking Friday's low at 0.7168, opens the target at 0.7065 (the high of June 2020). The signal line of the Marlin Oscillator is still in the positive area, this circumstance makes it difficult for the bulls to consolidate. The Australian dollar also supports the rise in commodity prices. Under the general offensive of the US dollar, the AUD/USD will also fall, only its fall will be slower than the European currencies. Target at 0.7065.
On the H4 chart, Marlin is already ready to move into the area of negative values, formally it is already on it. The price should overcome the MACD line (0.7175). The MACD lines coincide on the daily and H4 scales, respectively, overcoming them by the price will create a solid basis for further downward movement.
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Forex Analysis & Reviews: Forecast for GBP/USD on February 23, 2022
Yesterday, the British pound made a systematic attempt to fall towards the target level of 1.3513, but it was prevented by rising European and Asian currencies. It closed the day with a decrease of only 16 points, which was covered by growth this morning. But the price is still staying under the level of 1.3606 and under the balance indicator line. The Marlin Oscillator is moving exactly along the zero line. The downward potential is not wasted, we are waiting for a new attempt to reach the bearish target of 1.3513. Below it is the 1.3484 target – the MACD line.
On the four-hour chart, the price appears to have settled below the MACD line, and Marlin is still staying in negative territory. If the price manages to settle above 1.3606, then the road to 1.3730 will open (support on June 2 and September 8, 2021). If the price reverses from resistances, just as Marlin reverses from the border with the growth territory, then the level of 1.3513 will have to try hard to withstand the price pressure.
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Forex Analysis & Reviews: Forecast for EUR/USD on February 24, 2022
After yesterday's attempt to go above the balance indicator line of the daily timeframe, the price moved down with even greater determination, closed the day with a black candle, and this morning it crosses the area under the MACD indicator line and the target level of 1.1280. The euro is now set on a path to a target level of 1.1060, the approximate low of February 1994.
The price firmly settled below the balance line on the four-hour chart, the Marlin Oscillator rushed down with force after consolidating at the zero line. The situation is going down.
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Forex Analysis & Reviews: Technical Analysis of GBP/USD for February 25, 2022
Technical Market Outlook
The GBP/USD pair has made a massive reversal candlestick on H4 time frame chart after hitting the level of 1.3277. The big short-squeeze has hit the level of 38% Fibonacci retracement at 1.3414 and made a local high at 1.3437. The oversold market conditions and increasing momentum support the short-term bullish market outlook. The next target for bulls is seen at 1.3484 and the immediate technical support is located at 1.3370.
Weekly Pivot Points:
WR3 - 1.3817
WR2 - 1.3724
WR1 - 1.3655
Weekly Pivot - 1.3572
WS1 - 1.3510
WS2 - 1.3417
WS3 - 1.3348
Trading Outlook:
The up trend is being continued, but the up move might be terminated due to the Shooting Star candlestick pattern made at the daily time frame chart at the level of 1.3717. The overall move from the level of 1.3170 looks like a V-shape reversal pattern, so in the long-term the trend might be about to change from the multi-month down trend to the up trend. Please keep an eye on the level of 1.3500, because any sustained breakout below this level will change the outlook back to the bearish again.
The price firmly settled below the balance line on the four-hour chart, the Marlin Oscillator rushed down with force after consolidating at the zero line. The situation is going down.
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Forex Analysis & Reviews: Forecast for EUR/USD on February 28, 2022
This morning the major currencies opened with a falling gap. For the euro, this gap amounted to 145 points, in the Asian session the gap was closed by half. If the planned negotiations between Russia and Ukraine still begin in the near future, then the euro will be able to completely close the morning window, returning to the level of 1.1280, but then we still expect further weakening of the single currency amid all the uncertainty and fears associated both directly with Ukraine and and with economic implications for the global economy. The Federal Reserve's double rate hike on March 16th puzzles market participants again.
On the daily chart, the signal line of the Marlin Oscillator turned down from the upper border of its own descending channel. At the same time, price convergence with the oscillator also takes place. Closing a gap followed by a downward price reversal fits well with these charting tools. Ultimately, we are waiting for the price at the target level 1.1060, and consolidating the price below it will open the target 1.0910.
On the four-hour chart, Marlin's signal line turned down from the zero line. The situation is completely downward, and the whole question is whether the gap will close or not. It is quite possible that the gap will be closed much later, after the price declines to the level of 1.0910. This can happen if the Fed refuses to raise the rate at the March meeting due to fears of a subsidence of the economy in connection with the escalation of geopolitical tensions.
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Forex Analysis & Reviews: Forecast for AUD/USD on March 1, 2022
Yesterday, the Australian dollar showed good growth, closed the gap, but it has not hit the 0.7291 target. Perhaps the price will go a little higher, to the high on January 13 (0.7315). Rising above this level will mean that investors are confident that the Federal Reserve will not raise the rate at the next meeting on March 16th. The main scenario assumes a corrective decline after hitting the target range of 0.7291-0.7315. The Marlin Oscillator on the daily indicates a slowdown in the trend.
The situation is completely ascending on the H4 chart: the price is above the indicator lines, the Marlin Oscillator is growing in the positive area. Active growth in commodities supports the aussie's optimism.
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Forex Analysis & Reviews: Forecast for USD/JPY on March 2, 2022
Yesterday, the USD/JPY pair settled below the balance indicator line of the daily scale and below the target level of 115.07 (peak on January 18). The Marlin Oscillator appears to have settled in the area of the downward trend. The US stock index S&P 500 lost 1.55% yesterday. The Japanese Nikkei 225 is down 1.71% in today's Asian session. All these technical circumstances increase the likelihood of a downward movement with the target at 113.36.
On the four-hour chart, the local price growth of the last 3-4 candles occurs below the balance indicator line, which indicates the corrective nature of this growth. The Marlin Oscillator in the negative area. The signal to continue the decline, to accelerate the pace, will be the transition of the price under yesterday's low at 114.71.
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Forex Analysis & Reviews: Trading plan for EURUSD for March 03, 2022
Technical outlook:
EURUSD dropped through 1.1057 lows in the late New York Session on Wednesday before finding support and pulling back. The single currency pair then rallied through 1.1140 levels taking out short term resistance. Prices are retracing a bit at the time of writing trading close to 1.1100-05 levels and bulls are expected to be back in control soon.
EURUSD needs to stay above 1.1057 interim support/low to keep the near term bullish scenario intact. The recent drop between 1.1500 and 1.1057 could be the last leg lower as it has been accompanied by a strong bullsh divergence on the RSI. High probability remains for a bullish reversal from here and push through 1.1500 near term.
EURO bulls are preparing to stage an impressive rally in the next few trading sessions targeting 1.1500 resistance. A break there will confirm that bulls have registered themselves and are here to stay for long. A push through 1.1143 from here will accelerate towards 1.1200 and 1.1300 levels immediately.
Trading plan:
Potential rally through 1.1500 against 1.1000
Good luck!
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Forex Analysis & Reviews: Forecast for EUR/USD on March 4, 2022
The euro fell by 50 points on Thursday. The lower shadow of the daily candle was the puncture of the target level of 1.1060, this morning the euro is losing about 50 more points, so the road to the nearest target of 1.0910 is open. Breaking the level will open the second target at 1.0825. Things are moving towards the fact that the double gap around the level of 1.1280 (marked with a gray rectangle) will not be closed, as it already accepts a different technical interpretation of the double gap not being closed as a sign of a long-term trend. We suspect that the euro is moving towards below parity in the not too distant future.
The signal line of the Marlin Oscillator went down from its own channel, intending to enter the oversold zone.
The 4-hour chart shows how the price paused at the target level of 1.1060 and accelerated the decline. Marlin's signal line exits the triangle down. We are waiting for a further decline in the euro to the specified goals.
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Forex Analysis & Reviews: Technical Analysis of ETH/USD for March 7, 2022
Crypto Industry News:
The Korean Digital Asset Industry Committee, made up of South Korea's leading Blockchain experts, has called for a government committee to be formed to help and develop digital asset companies in the country.
The expert group discussed the various ways in which Korea could become a leading marketplace for digital assets and what role the government should play to achieve this. Experts believe Blockchain technology and cryptocurrencies will become key tools of the fourth industrial revolution.
Experts called on the government to support the nascent cryptocurrency industry and other emerging use cases such as decentralized finance, decentralized autonomous organizations, NFT tokens and metaverse.
South Korea's cryptocurrency laws are seen as one of the strictest, considering that nearly 200 small and medium-sized cryptocurrency exchanges had to shut down after regulators issued an injunction for crypto exchanges to create accounts with real usernames.
The Financial Conduct Authority, the country's chief regulator, also banned exchanges from conducting anonymous transactions and banned the use of private wallets. Regulators previously proposed a 20% tax on cryptocurrency profits, but the proposal was postponed due to a lack of clarity on cryptocurrency laws. While regulators have taken a strict stance on the virtual asset market, they seem quite positive about the Metaverse as the country announced $187 million investment for the domestic Metaverse project.
Technical Market Outlook
The ETH/USD pair had broken below all of the Fibonacci retracement levels after the rejection from the technical resistance seen at $3,000 level. The bears are in control of the market and the target for them is located at the swing low seen at $2,302. The momentum is weak and negative, so even despite the extremely oversold market conditions on the H4 time frame the down move might continue for some time. The immediate technical resistance is seen at the level of $2,568. Only a clear and sustained breakout above the trend line resistance located around $3,024 level would change the outlook to bullish in the near time.
Weekly Pivot Points:
WR3 - $3,323
WR2 - $3,179
WR1 - $2,855
Weekly Pivot - $2,718
WS1 - $2,386
WS2 - $2,240
WS3 - $1,190
Trading Outlook:
The market keeps trying to bounce higher after over the 50% retracement made since the ATH at the level of $4,868 was made. The level of $3,192 is the next key Fibonacci retracement for bulls, but the bulls had failed to break through three times already. On the other hand, the next long-term technical support is located at $1,721 (61% Fibonacci retracement of the last big impulsive wave up) is still the key long-term.
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Forex Analysis & Reviews: Forecast for GBP/USD on March 8, 2022
GBP/USD is falling very sharply. It declined by three figures over the past three days, with the price hitting 1.3115 on Monday. A further drop will bring the pair to 1.2853-1.2900, which are the November 2020 and December 2019 lows. A rebound seems impossible at the moment because yesterday's trading volumes were close to the yearly high, which is a clear signal for medium-term sell-offs.
The Marlin oscillator also formed a convergence in the four-hour chart, so it is likely that many traders will take a break today and then continue their efforts for a deeper decline.
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Forex Analysis & Reviews: Elliott wave analysis of Gold for March 9, 2022
Gold is currently testing the former all-time high at 2,074. It should just be a matter of time before this resistance is broken for a continuation higher towards 2,400 and ultimately higher towards our long-term target at 2,700.
Short-term we need to allow for some consolidation either just below the all-time high or just above the all-time high. If the consolidation takes place just below the all-time high at 2,074, we could see a correction towards 1,971 before the next rally higher towards 2,400 and 2,700.
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Forex Analysis & Reviews: Elliott wave analysis of Silver for March 14, 2022
Silver has activated the double bottom for a rally towards the double bottom target at 29.28 and likely even closer to the extension target at 31.70. Longer-term a break above the former top at 30 should trigger a continuation higher towards the all-time higher near 50.00.
Support remains at 25.40 but even a small break below here,
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Forex Analysis & Reviews: Forecast for AUD/USD on March 15, 2022
The Australian dollar confirmed our yesterday's thesis about the prospect of a rapid decline as a recovery of balance with other world currencies after its previous four-month growth outstripping the market. The aussie's fall from yesterday was 100 points, the MACD line of the daily scale was reached. This morning, the price continued its decline with overcoming this support line. The Marlin Oscillator is in the downward trend zone. The 0.7065 target is open.
The price is completely in a downward position on the four-hour chart - it is falling below the indicator lines, the MACD line itself has turned to decline. The Marlin Oscillator may soon enter the oversold zone, but under the pressure of fundamental factors, it may end up there for several days.
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Forex Analysis & Reviews: Trading plan for EURUSD for March 16, 2022
Technical outlook:
EURUSD continues to consolidate between 1.0900 and 1.1000 levels within a triangle, waiting for a breakout. Today's event risk might trigger the necessary technical price action, which is favored above 1.1120 mark. Bulls remain poised to keep prices above 1.0800 to keep the structure intact going forward.
.EURUSD faces immediate price resistance around 1.1500 mark as seen on the daily chart. A break above that mark will confirm potential trend reveral and that bulls rew going to remain in control. On the flip side, a break below 1.0800 interim support will open the door t test 1.0750 handle before finding support again.
EURUSD had rallied earlier between 1.0536 and 1.2350 levels carving a meaningful upswing at a larger degree. The subsequent drop since then has been corrective and has dropped through fibonacci 0.618 retracement around 1.0800 mark. If the above structure holds well, bulls will remain in control pushing through 1.1500 levels near term.
Trading plan:
Potential rally through 1.1500 against 1.0700
Good luck!
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Forex Analysis & Reviews: Trading plan for US dollar index for March 17, 2022
Technical outlook:
The US dollar index has dropped through 98.40 intraday today after carving a lower high around 99.30 levels early this week. The index has also carved another Evening Star bearish candlestick pattern on the daily chart as expected. Ideally, prices should continue to drag lower from here and a drop below 97.70 will accelerate further.
Furthermore, if the US dollar index bears are successful in holding prices below 99.45 mark, we might withess a steep fall towards 94.50 in the next few trading sessions. A break there will also confirm that bears are back in control and are here to stay for long. On the flip side, if a more complex corrective structure unfolds, prices might print above 99.30 before finding resistance.
The US dollar had earlier carved a meaningful larger degree downswing by dropping from 104.00 through 89.20 levels. The entire drop has now been retraced through its fibonacci 0.618 level seen around 99.45 mark. If the above structure holds well, bears will remain inclined to drag prices below 89.20 to complete the structure.
Trading plan:
Potential drop through 94.50 against 100.00
Good luck!
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Forex Analysis & Reviews: Forecast for GBP/USD on March 21, 2022
The British pound is consolidating in the range of target levels 1.3110-1.3210. If we assume that the pound's growth since March 15 is a correction from a strong previous fall, then its potential is far from exhausted, it can continue to the MACD line, which currently corresponds to a 50% correction level. Slow price growth will allow the MACD line to drop to the 38.2% correction level, which is close to the target level of 1.3270. Therefore, with the release of the price above the nearest resistance at 1.3210, we can expect continued steady growth to 1.3270. Price drop below 1.3110 will bring it back to the downside.
On the H4 chart, the situation is ascending: the price is developing along the balance and MACD indicator lines, the Marlin Oscillator is falling, being led in the current situation, but has not yet left the territory of the rising trend. We are waiting for the continuation of consolidation in the indicated hundred-point range and follow the choice of the price of the further direction. The probability of growth is 55%.
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Forex Analysis & Reviews: Forecast for EUR/USD on March 22, 2022
Last night, Federal Reserve Chairman Jerome Powell spoke and said that if inflation rises, the rate at the May meeting could be increased by 0.50 points. Investors rated this as a belated recognition, but still began to buy dollars (the dollar index is 0.24%), dump government bonds (yield on 5-year securities increased from 2.14% to 2.32%) and leave the stock market (Dow Jones -0.58%, S&P 500 -0.04%). The market probability of a double rate hike at the next meeting has increased to 60 percent.
It is very likely that the euro changed its mind for the second time to storm the resistance of 1.1121 and reach the target of 1.1177, not to mention the closing of the double gap around the level of 1.1280. But we still need to be convinced of this intention.
The Marlin Oscillator is falling in the negative zone on the H4 chart, and in order to fully confirm the price's intention to decrease, the MACD line should be overcome, near the mark of 1.0944. In this case, the first bearish target at 1.0820 will open.
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Forex Analysis & Reviews: Forecast for AUD/USD on March 23, 2022
The Australian dollar's growth from yesterday amounted to 68 points. The price overcame the target range of 0.7415/30, but the next target (0.7500) did not work out. The Marlin Oscillator is starting to turn down, and while its readings are not enough to resolve the issue with the 1.7500 level, will the price reach it or not. Returning to the area below 0.7415 opens the 0.7315 target.
The technical situation is even more confusing on the four-hour chart. Price divergence begins to form with the Marlin Oscillator; it can persist even if the bullish target level is worked out. But there may be a price reversal with consolidation under 0.7415 from the current levels. We are waiting for the development of events.
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Forex Analysis & Reviews: Forecast for EUR/USD on March 24, 2022
Over the past two days, that is, for Wednesday and Tuesday, the euro has formed the support of 1.0962 with the lower pronounced shadows of daily candles. And since the daily trend remained downward, the signal line of the Marlin Oscillator did not dare to go into the positive area. Overcoming the freshly baked support will be a fresh impetus to continue the decline, towards the target of 1.0820.
The 1.0962 level coincides with the support of the MACD line on the four-hour chart. This circumstance further increases the value of this level, so we are now waiting for a confident price movement with overcoming this line.
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Forex Analysis & Reviews: Technical Analysis of GBP/USD for March 25, 2022
Technical Market Outlook
The GBP/USD pair has been having trouble to move higher after the local high was made at the level of 1.3295 and is currently testing the lower channel line around the level of 1.3194. Any sustained violation of the level of 1.3194 will indicate a possibility of a deeper correction, so please keep an eye on this level and on the whole demand zone located between the levels of 1.3121 - 1.3110. The nearest technical resistance is seen at the level of 1.3210 and 1.3240.
Weekly Pivot Points:
WR3 - 1.3487
WR2 - 1.3345
WR1 - 1.3272
Weekly Pivot - 1.3138
WS1 - 1.3067
WS2 - 1.2918
WS3 - 1.2816
Trading Outlook:
If the market will break below the level of 1.3169, the up trend on the weekly time frame is terminated and the bears enforce and confirm their control over the market in the long term. The Cable is below 100 and 200 WMA already, so the bearish domination is clear. The next long term target for bears is seen at the level of 1.2751 and 1.2663. Please remember: trend is your friend.
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Forex Analysis & Reviews: Forecast for GBP/USD on March 28, 2022
The British pound could not cope with the resistance of 1.3210 on Friday, and the Marlin daily scale oscillator returned below the zero line, showing the previous exit into the positive trend zone was false (arrow). Now the task for the pound is to consolidate under the support of 1.3119 (March 22 low) and start the hike to 1.2900.
On the H4 chart, the price went under the red balance indicator line with consolidation, and this shows the shift in the mood of speculators to short positions. The signal line of the Marlin Oscillator is developing in a downward trend - in the territory of negative values. The MACD line approached the level of 1.3119 - it strengthened it, made it more significant for the prospect of a downward movement in case the price surpasses it.
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[B]Forex Analysis & Reviews: Forecast for GBP/USD on March 29, 2022
The British pound fell 93 points yesterday, having successfully overcome the first target level of 1.3119. The Marlin Oscillator has settled in the downward trend area. The price has chosen a direction and a target at 1.2900. Slightly lower is the second target at 1.2853, which together can be defined as a target range of 1.2853-1.2900 (November 2020 low and December 2019 low).
The price consolidated under the level of 1.3119 and under the MACD line on the four-hour chart. The trend is downward, but at the moment there is a slight correction after yesterday's strong fall. Upon completion of the correction, we expect further decline.
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Forex Analysis & Reviews: Forecast for AUD/USD on March 30, 2022
The Australian dollar's decline, which had begun yesterday, stopped and turned into the US dollar's growth, which weakened by 0.72%. The Australian dollar managed to return above the target level of 0.7500 in one day and is now ready to rise to the next bullish target of 0.7600. The aussie's readiness is still not complete, as the Marlin Oscillator has not turned up yet. Perhaps the upward price movement will be in the form of a saw.
On the H4 chart, the price has settled above the target level of 0.7500 and is developing above the balance indicator line. The Marlin Oscillator is close to the transition to the positive area. We are waiting for the price at the level of 0.7600.
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Forex Analysis & Reviews: ETHUSD, Bullish Pressure | 31st March 2022
On the H4, with price moving above the Ichimoku indicator, we have a bias that price will rise to our 1st resistance at 3589 in line with the horizontal pullback resistance and 127.2% Fibonacci extension from our 1st support at 3240 in line with the horizontal pullback support and 23.6% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 3034 in line with the horizontal pullback support and 38.2% Fibonacci retracement.
Trading Recommendation
Entry: 3240
Reason for Entry:
Horizontal pullback support and 23.6% Fibonacci retracement
Take Profit: 3589
Reason for Take Profit:Horizontal pullback resistance and 127.2% Fibonacci extension
Stop Loss: 3034
Reason for Stop Loss:Horizontal pullback support 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
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Forex Analysis & Reviews: Forecast for USD/JPY on April 1, 2022
So, yesterday's daily candle of the USD/JPY pair formed a small body with medium-length shadows, and this morning there is an increased growth of the pair. Taking into account the large black candle of the environment, we see the formation of a reversal combination. Our scenario involves the formation of a triangle here. If the triangle is horizontal, then this will be a sign of further price growth, if the triangle is formed upwards, and for this it has a target level of 125.85, then this will be a reversal pattern in the medium and long-term decline. At the moment, we are waiting for growth to the area of the upper hypothetical line of the triangle at 124.60.
On the four-hour chart, the price is trying to go above the balance and MACD indicator lines, the price has formed a convergence with the oscillator. The exit of the price above the MACD line (122.80), most likely, will coincide with the transition of Marlin to the positive area and this will be a signal for the continuation of the price growth.
Analysis are provided by InstaForex
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Forex Analysis & Reviews: GBPUSD Bullish Bounce | 4th Apr 2022
On the H4, prices are abiding by an ascending trendline support. We see the potential for a dip from our 1st resistance 1.31152 at 23.6% Fibonacci retracement towards our ascending trendline support. Breaking our ascending trendline support will find prices dipping towards our 1st support at 1.30558 in line with 61.8% Fibonacci retracement. Our bearish bias is further supported by prices trading below our Ichimoku cloud resistance. Alternatively, prices may climb towards our 2nd resistance at 1.31622 in line with our graphical swing high.
Trading Recommendation
Entry: 1.31152
Reason for Entry:
23.6% Fibonacci retracement
Take Profit: 1.30558
Reason for Take Profit:61.8% FIbonacci retracement
Stop Loss: 1.31622
Reason for Stop Loss:
Graphical swing high
Analysis are provided by InstaForex
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Forex Analysis & Reviews: Forecast for EUR/USD on April 6, 2022
The euro is falling evenly - yesterday's fall was about the same as on Monday. On the daily chart, the signal line of the Marlin Oscillator settled below the zero line. The trend is completely down, the target 1.0820 is open. Going under the level will be an early sign that we will see the euro at parity with the dollar. Consolidating below 1.0636 (March 2020 low) will confirm this signal.
The decline continues for all indicators on the four-hour chart. The Marlin Oscillator slowed down a bit, but it is not in the oversold zone yet. We are waiting for further development of the downward movement.
Analysis are provided by InstaForex
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Forex Analysis & Reviews: Forecast for GBP/USD on April 7, 2022
The British pound has settled under the target level of 1.3119 on a daily scale, now it acts as a resistance for it. The signal line of the Marlin Oscillator is moving sideways along its own zero line. The prevailing trend is downward. We are waiting for its qualitative breakdown with the development of the target level of 1.2900.
The trend remains bearish on the lower working chart of H4. The price is below the indicator lines, the Marlin Oscillator has moved below the zero line and is already moving sideways in the negative area. We are waiting for the price at the target level of 1.2900. This is the December 2019 low.
Analysis are provided by InstaForex
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Forex Analysis & Reviews: Forecast for EUR/USD on April 8, 2022
The euro continues to decline, although it has slowed down. It has a technically and ideologically important support at 1.0820 ahead of it, overcoming which opens the target of 1.0636 – the low of March 2020, therefore, in order to overcome such an important support, you need to gather your strength. Today is Friday, no important news is planned, and investors, if they have planned a breakthrough, will organize it not today. The Marlin Oscillator of a daily scale is moving exactly horizontally, which hints at the preliminary closing of short positions of players before an assault with fresh forces.
On the four-hour chart, the Marlin Oscillator is growing in the downtrend zone, this can be interpreted in two ways: the oscillator rarefaction before further decline into the oversold area and a slight convergence with the price, indicating the expected closing of positions.
Thus, two scenarios of one action appear: price correction from current levels (correction limit at 1.0945) and a subsequent powerful attack on the target level of 1.0820, and support at 1.0820 working off with a subsequent bounce from the level and only then going under it with a further decline.
Analysis are provided by InstaForex
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Forex Analysis & Reviews: Forecast for AUD/USD on April 11, 2022
On Friday, the Australian dollar marked the lower shadow of the daily candle in the target range of 0.7415/30, then went back out of it. The signal line of the Marlin Oscillator has gone into the negative area, so we do not expect a strong correction from the range reached. Until the US dollar index strengthens again, the aussie is likely to move sideways. The price going under the lower border of the range opens a new target 0.7315 (high on January 13).
On the four-hour chart, the price is in no hurry to go into a correction. The Marlin Oscillator is also in no hurry to move either down or turn up. This circumstance confirms the aussie's reluctance to develop corrective growth.
Analysis are provided by InstaForex
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Forex Analysis & Reviews: Elliott wave analysis of Silver for April 12, 2022
Silver turned higher as the cycle bottomed. We are looking for a break above minor resistance at 25.85 for a continuation higher towards 30.00 and ultimately a rally towards the all-time high at 50.00.
Support is now seen at 24.59 that ideally will be able to protect the downside for the expected break above minor resistance at 25.85. Only a break below support at 24.13 will shift the tide towards the downside and a decline towards 23.38, but the odds for this outcome are very low.
Analysis are provided by InstaForex
