Instaforex Analysis

**InstaForex Gertrude** · 18-10-23, 07:18

Forecast for EUR/USD on October 18, 2023

EUR/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.

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**InstaForex Gertrude** · 19-10-23, 07:33

Forecast for EUR/USD on October 19, 2023

EUR/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.

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**InstaForex Gertrude** · 20-10-23, 06:49

Forecast for AUD/USD on October 20, 2023

AUD/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.

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**InstaForex Gertrude** · 23-10-23, 11:45

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

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**InstaForex Gertrude** · 24-10-23, 06:49

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

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**InstaForex Gertrude** · 25-10-23, 07:09

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.

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- - - Updated - - -

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.

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**InstaForex Gertrude** · 26-10-23, 07:15

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.

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**InstaForex Gertrude** · 27-10-23, 08:44

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.

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**InstaForex Gertrude** · 30-10-23, 06:13

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.

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**InstaForex Gertrude** · 31-10-23, 05:37

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.

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**InstaForex Gertrude** · 01-11-23, 05:43

Forecast for GBP/USD on November 1, 2023

GBP/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.

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**InstaForex Gertrude** · 02-11-23, 05:35

XAUUSD H4 | Neutral Momentum?

The XAU/USD chart currently shows a neutral overall momentum, indicating a lack of a strong directional trend. In this scenario, the price is expected to fluctuate between the 1st support at 1974.67 (overlap support) and the 1st resistance at 1992.18 (overlap resistance). These levels are significant, with the support potentially attracting buyers at 1974.67 and the resistance posing a hurdle for further price gains. The 2nd support at 1962.70 (overlap support) and the 2nd resistance at 2006.11 (multi-swing high resistance) further reinforce these potential support and resistance zones.

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**InstaForex Gertrude** · 03-11-23, 06:04

USDCHF H4 I Falling to Support level?

The USD/CHF chart shows bearish momentum with potential movement towards the 1st support at 0.9032, a pullback support strengthened by the 61.80% Fibonacci Retracement. The 2nd support at 0.8982, considered an overlap support, adds to its significance as a potential buying area.

On the resistance side, the 1st resistance at 0.9111, an overlap resistance, might attract selling interest. The 2nd resistance at 0.9177, a multi-swing high resistance, could strongly impede upward movement. Traders should closely watch these levels, given the overall bearish chart bias.

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**InstaForex Gertrude** · 06-11-23, 08:03

EURUSD Day I Rising toward resistance level?

The EUR/USD chart currently demonstrates bullish momentum, suggesting the potential for an upward move towards the 1st resistance. The 1st support at 1.0674, associated with the 23.60% Fibonacci Retracement level, may attract buying interest as a significant level. On the resistance side, the 1st resistance at 1.0765, linked to the 38.20% Fibonacci Retracement level, could pose as a level of selling pressure due to its overlap resistance nature. The 2nd resistance at 1.0858, related to the 50% Fibonacci Retracement level, further reinforces its significance as a potential obstacle to upward price movement.

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**InstaForex Gertrude** · 07-11-23, 06:29

EURUSD H4 I Boucnig off support?

The EUR/USD chart shows bearish momentum, potentially heading towards the 1st support at 1.0678, a pullback support. The 2nd support at 1.0606, coinciding with the 61.80% Fibonacci Retracement, adds to the support zone.

On the resistance side, the 1st resistance at 1.0759, a multi-swing high resistance, could lead to selling pressure. The 2nd resistance at 1.0835 is another potential obstacle for upward movement.

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**InstaForex Gertrude** · 08-11-23, 06:01

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, November 08 2023

With a price movement which is above its EMA 200 that has an upward slope as well as the appearance of Bullish 123 pattern followed by the Bullish Ross Hook (RH) which in a few times manages to breakout above as well as the appearance of Fractal Bar pattern which detected at the candle Pinbar on the 4 hour chart of AUD/JPY Cross currency pairs, then in the near future, this cross currency pairs has the potential to appreciate above to the level 97.53. If on the way to the level there is no downward correction which breaks under the level 95.84, because if this level manages to break above, then the strengthening condition that has been described before will become invalid and cancel itself.

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**InstaForex Gertrude** · 09-11-23, 07:19

EURUSD H4 I Continue to resistance?

EUR/USD exhibits bullish momentum with a focus on the 1st resistance. The 1st support at 1.0664 coincides with the 38.20% Fibonacci Retracement, a key buying level. Similarly, the 2nd support at 1.0606 aligns with the 61.80% Fibonacci Retracement, enhancing its significance.

Resistance is expected at the 1st resistance of 1.0758, a multi-swing high resistance likely to trigger selling pressure. The 2nd resistance at 1.0835, a pullback resistance, may further impede upward movement

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**InstaForex Gertrude** · 10-11-23, 06:32

XAUUSD H4 I Continue to Support?

The XAU/USD chart currently has a bearish momentum, indicating a potential move towards the 1st support at 1946.66, an overlap support with historical significance. The 2nd support at 1932.50 reinforces the potential buying zone as a pullback support. The 1st resistance at 1964.79, an overlap resistance coinciding with the 38.20% Fibonacci Retracement level, may impede upward movement. The 2nd resistance at 1976.78 acts as a pullback resistance, potentially adding to selling pressure during the bearish continuation.

Analysis are provided by InstaForex

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**InstaForex Gertrude** · 13-11-23, 05:43

Forecast for EUR/USD on November 13, 2023

On Friday, the euro rebounded for the fourth time from the MACD indicator line with the lower shadow of the daily candle. Visually, the price has risen further, this might be real, which means that the Fibonacci ray is just around 1.0764.

A break above this mark makes it possible for the pair to aim for 1.0834. If the price manages to settle below Friday's low (simultaneously below the MACD line), the euro will head towards the lower Fibonacci ray at around 1.0490.

On the 4-hour chart, the price found strong support from the MACD line. The Marlin oscillator is rising, and its signal line is approaching the border of the uptrend territory. Under these conditions, the main scenario is that the price will rise to 1.0764.

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**InstaForex Gertrude** · 14-11-23, 07:08

AUDUSD H4 I Continue to Support?

The AUD/USD chart currently shows a bearish momentum with key levels to watch. The 1st support at 0.6324 (overlap and 78.60% Fibonacci Retracement) signifies a historical buying level. The 2nd support at 0.6275 is a swing low support. On the resistance side, the 1st resistance at 0.6392 (overlap) may block further upside, and the 2nd resistance at 0.6436 (50% Fibonacci Retracement) could serve as strong resistance.

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