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  1. #1401
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    Forex Analysis & Reviews: Elon Musk continues to manipulate the currency market

    Once again, news from Elon Musk, who has recently become extremely interested in the cryptocurrency market, comes out. Recall that at first, his comment on the social network led to an increase in bitcoin by $5 thousand, and then his company Tesla announced the purchase of bitcoin in the amount of $1.5 billion, which provoked an increase of another $5,000. Thus, in principle, only Elon Musk is responsible for a fifth of the cost of the "cue ball" at this time. It's scary to imagine what will happen if Musk or other similar businessmen comment on cryptocurrencies every couple of days. However, Musk decided to give bitcoin a break and switched to the Dogecoin cryptocurrency. In the social network Twitter, Musk made a post in which he supports the potential solution of large holders of the Dogecoin. According to Musk, the problem with the token is that it is concentrated in too narrow a circle of owners. After this statement, Dogecoin fell by 19%. Earlier, the same Elon Musk commented on the same cryptocurrency Dogecoin (wrote that it is undervalued) and then followed a powerful growth. Thus, only one owner of Tesla is responsible for four powerful jumps in the cryptocurrency market and this is only in the last 7-10 days. Well, traders can once again personally observe what is happening in the cryptocurrency market and what are the reasons for this. Bitcoin, by the way, this night again rose in price and is already worth almost $50,000 per coin. At the same time, it is still extremely difficult to name at least one fundamental reason why the cryptocurrency has grown 5 times in a few months. And it's not just Bitcoin that's growing! Other cryptocurrencies are also being pulled up, ergo, the entire cryptocurrency market is growing. The more news of this nature from Elon Musk or other major investors and companies we will receive, the more likely it is that cryptocurrencies will continue to grow in price. We continue to insist that sooner or later there will be a collapse. There will not be a scenario in which bitcoin will grow to $100,000 per coin, and then adjust to $80,000 and remain at this level in the medium term. No, when large investors start taking profits on long positions, then the "domino effect" will begin, everyone will immediately rush to sell bitcoin and other major cryptocurrencies at the maximum value, which will lead to the collapse of the entire cryptocurrency market, as it was already in 2017. Therefore, we still believe that bitcoin is a great tool to make money, but we need to be prepared for its collapse.


    Analysis are provided by InstaForex

  2. #1402
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    Forex Analysis & Reviews: Forecast for EUR/USD on February 17, 2021

    EUR/USD
    Yesterday, the euro failed to take the opportunity to reach the 1.2190-1.2272 range. The excellent European ZEW Economic Sentiment did not even provide support to the euro, which grew from 58.3 to 69.6 while expectations were at 59.2, and the GDP for the fourth quarter showed a decline of -0.6% against the forecasts at -0.7%. But investors were happy with the growth of activity in the manufacturing sector in New York, which showed an increase from 3.5 to 12.1. As a result, the euro lost 23 points in a day.

    Today, investors have more serious reasons for strengthening the dollar: retail sales for January are forecast to grow by 1.1%, industrial production is expected to grow by 0.5%.

    The price moves back down below the MACD indicator line on the daily chart, while the Marlin indicator also returns to the downward trend zone. Now the price is facing the 1.1870-1.1915 target.

    The price also goes under the MACD line on the four-hour chart, while Marlin has already consolidated in the zone of negative values. We look forward to further weakening of the euro.

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  3. #1403
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    Forex Analysis & Reviews: Trading plan for EUR/USD on February 18

    The situation with COVID-19 is stabilizing. There is a strong decline in incidence in both United States and Europe. In fact, the US steadily recorded new cases below 100,000.

    Vaccinations are also starting to progress rapidly, but only in the US and Britain.

    EUR/USD is trading downwards. Primarily, this is because of strong economic data from the US.

    Open short positions from 1.2080 to 1.2125.

    Price will continue to decline if employment data (in the US) also comes out better than expected.

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    Forex Analysis & Reviews: Forecast for AUD/USD on February 19, 2021

    AUD/USD
    The support of the balance indicator line has confirmed its impact on the price. After reaching the lower shadow, the price successfully broke through the entire range of 0.7765/83 and closed the day inside it. However, it is now trying to leave it in order to decline. In this case, the price should consolidate below yesterday's low, and move below the balance indicator line. If so, we can expect the downward trend to extend to the target range of 0.7625/41. The Marlin Oscillator is in the area of positive levels, and thus, we should get ready to break through this today.

    In the H4 chart, yesterday's low of 0.7732 is located below the MACD line (blue moving average). This level can be a good pivot point to determine the price's intention to continue its decline. Here, the Marlin Oscillator is in the negative trend zone. It is possible that an attack on the signal level of 0.7732 will be made today, but the development can only be expected next week.

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    Forex Analysis & Reviews: Forecast for GBP/USD on February 22, 2021

    GBP/USD

    The pound was trying to reach the target level of 1.4070 on the reversing Marlin oscillator last Friday and also this morning. The price, especially with the support from the growth of other world currencies, still has the opportunity not only to reach this level, but also to rise above it. But if there is no such support, the price will return to the 1.3950/65 range and, after settling below it, will go further down to the target level of 1.3835.

    The four-hour chart shows that the probability of forming a divergence with the Marlin oscillator still remains, only it will be weaker. The divergence will not be broken if the price rises to the 1.4070 level. To open short positions, you are advised to wait for the price to settle under the range of 1.3950/65.

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    Forex Analysis & Reviews: Forecast for EUR/USD on February 24, 2021

    EUR/USD
    Yesterday, the euro stopped rising on its way to the nearest target of 1.2190, but it is still determined to reach not only this target, but also 1.2272. Drifting under the MACD line, below 1.2105, will return the euro to a downward trend.

    The price rises on the four-hour timescale, while the Marlin oscillator turns up. We are waiting for the price to overcome the first target at 1.2190.

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    Forex Analysis & Reviews: Forecast for USD/JPY on February 25, 2021

    USD/JPY
    The US dollar showed a significant increase against the Japanese yen on Wednesday. Thus, it is now possible not only to reach the target range of 106.50/65 in the near future, but also to break through it, with the aim to rise further towards the target range of 107.35/50.

    The price consolidated above both the balance indicator (red) and MACD lines in the H4 chart. Meanwhile, the Marlin oscillator is in the upper zone. The upward trend is likely to strengthen after the price managed to break through the February 17 high set at 106.23.

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    Forex Analysis & Reviews: Forecast for GBP/USD on February 26, 2021

    GBP/USD
    The technical spike, that the British pound formed on Thursday, completely worked out yesterday - the pair dropped 128 points. The price reached the target range of 1.3950/65 this morning. Falling below the lower border of this range opens the next target at 1.3830 - the low on February 17. A correction is likely from this level, since by this time the signal line of the Marlin oscillator will reach the border with the territory of the downtrend and, most likely, will not overcome it on the first attempt.

    The price settled below both indicator lines on the four-hour chart - balance and MACD, while Marlin is deeply in the negative zone. The trend is completely downward.

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    Forex Analysis & Reviews: Forecast for EUR/USD on March 1, 2021

    EUR/USD
    The euro fell by 99 points last Friday, broke through the support of the MACD line, but the Marlin oscillator only touched the border of the downward trend area and now a correction is taking place.

    The downward momentum is set strong, we are waiting for the price to move to the 1.1870-1.1915 target range. From the specified range, we expect a correction of the order of one figure, afterwards it could fall again (1.1760). The nearest target, however, is 1.2023, but in order to reach it, it is necessary to overcome Friday's low, as shown on the four-hour chart.

    The trend is completely downward on the four-hour chart, while the Marlin signal line is slightly to the upside, showing the current correction.

    So, we are waiting for the price to surpass the signal level of 1.2062.

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  10. #1410
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    Forex Analysis & Reviews: Forecast for EUR/USD on March 2, 2021

    EUR/USD
    Yesterday, the euro traded in a range of 74 points, closing the day with a decline and consolidation below the balance (red) and MACD (blue) indicator lines. The balance line shows the market mood within the trend, the MACD line determines the trend itself. Now the price is approaching the target level of 1.2023, identified at the February 17 low. Getting the price to settle below it opens targets like 1.1915, then 1.1870. The Marlin oscillator is in a downward trend zone.

    The price continues to fall without signs of a reversal on the four-hour chart:

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    Forex Analysis & Reviews: Forecast for AUD/USD on March 3, 2021

    AUD/USD
    The Australian dollar moved higher yesterday with the support of the Marlin oscillator, which has penetrated the area of the rising trend on the daily chart. But since this is a correctional growth, we do not expect a succeeding significant growth in price. There is an increase in prices on the commodity market and AUD/USD will feel a little better than European currencies, albeit without a pronounced growth.

    The correction continues on the four-hour chart, the growth limit is seen in the area of the MACD line, near the level of 0.7875. After getting the price to settle below the target range of 0.7765/83, we expect it to fall to the range of 0.7625/41 (peak on December 17, 2020).

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    Forecast for GBP/USD on March 4, 2021

    Yesterday, the British pound briefly jumped above the target range of 1.3950/65 and returned below its lower bound. The price continues to moderately decline at the moment. The Marlin oscillator is preparing to move into the negative zone, which will strengthen the decline to the first target level 1.3822. Then we wait for the quote at the MACD line in the 1.3727 area - in the accumulation range of the last decade of January.



    The Marlin oscillator is already in the downward trend zone on the four-hour chart, we are waiting for a succeeding decline from the pair.



    *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

  13. #1413
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    Forex Analysis & Reviews: Forecast for AUD/USD on March 5, 2021

    AUD/USD
    Yesterday, the Australian dollar was expectedly supported by the leading currencies. The US dollar index strengthened by 0.69%. At the same time, the Australian dollar hardly lost much (46 points), pausing at the support of the MACD line. And then, it did the main thing During the Asian trading session, it broke through the support and quickly declined. The Marlin oscillator has forcefully entered the downward trend zone. Thus, the situation has become completely declining.

    On the daily chart, the targets are set at 0.7615, 0.7565, 0.7500, 0.7375. The medium-term target of the AUD/USD pair is located at 0.7170 level, from which there was a formation of complex consolidations last summer and autumn 2020.

    The MACD signal line in the H4 chart has left the consolidation at the zero level below (gray area on the chart), and is going deeper into this negative zone. The situation is fully downward.

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  14. #1414
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    Forex Analysis & Reviews: Forecast for USD/JPY on March 8, 2021

    USD/JPY
    Last Friday, the USD/JPY pair continued its intensive growth, reaching above the target level of 108.16. Visually, the price will close today with a white candle, but the Marlin oscillator has already reached the overbought zone and is planning a reversal from the upper limit of its own growing channel. This morning came the data on Japan's balance of payments for January, which showed a deterioration in the indicator: 0.647 trillion yen versus December 1.166 trillion and forecasted 1.23 trillion yen. The data, of course, does not contribute to risk appetite (Nikkei 225 adds 0.2% against the background of the Australian S&P/ASX 200 1.20%). But nevertheless, stock indexes are growing and keeping the dollar from a deep correction. It is possible that the correction will not go even under the overcome level of 108.16 (the top of July 1, 2020), so today can be closed with a small black candle. And tomorrow, the growth will continue to the previously defined target of 109.10. From this level, a deeper correction is already likely and the exit of the signal line of the Marlin oscillator from the growing channel will become false, it will return to it later.

    There are no reversal signs on the four-hour chart, only the Marlin slightly decreases with the last three candles growing, but this is still not a trend and not a signal for a reversal. We are waiting for developments. Today, the main factor is time.

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  15. #1415
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    Forex Analysis & Reviews: Forecast for EUR/USD on March 9, 2021

    EUR/USD Yesterday, the euro decided to go down from its local price channel. Now the following target levels are ahead: 1.1800 (low of November 23, 2020), 1.1745 (low of November 11), 1.1688-1.1700. The main target is the last one- the 1.1688-1.1700 range, which is referenced by the low on October 15, 2020.

    The price divergence with the oscillator develops on the four-hour scale, but if it is not broken today, then only a nominal correction is expected, to the lower border of the price channel, from which the price left yesterday (1.1880).

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    Forex Analysis & Reviews: Forecast for AUD/USD on March 10, 2021

    AUD/USD
    Yesterday, the Australian dollar gained 68 points. And although it did not try to break through the support level of 0.7615, it managed to work out the resistance of the MACD line on the daily time frame. This morning, the price is declining again, so we should still expect it to fall further towards the 0.7615 mark. Meanwhile, commodity markets have outlined a decline, which supports the currency pair. In this case, a prolonged decline can be expected tomorrow, when the ECB announces its monetary policy guidelines. The targets remains at 0.7565 and 0.7500.

    The Marlin Oscillator slightly went above the neutral line in the four-hour chart, but it is going to return along it. Otherwise, the situation will remain unchanged, that is, moving downwards.

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    Forex Analysis & Reviews: Forecast for USD/JPY on March 12, 2021

    USD/JPY
    The Japanese yen continued to adhere to its target yesterday to exit the declining price channel, that is, above the 109.17 mark, move towards the target level of 110.34, and possibly further rise. If we analyze the pair's growth amid the confusing ECB meeting on Thursday, there is a high probability that the price will reach the specified target level. The Marlin Oscillator signal line is also directed upwards.

    The price in the H4 chart is supported by the balance indicator line. On the other hand, the Marlin is approaching the border within the growth area. Thus, the price is expected at the nested line of the upward price channel in the area of 110.34.

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    Forex Analysis & Reviews: Forecast for GBP/USD on March 15, 2021

    GBP/USD Last Thursday and Friday, the pound went above the target level of 1.3950 for a short time and is now preparing to attack the support of the MACD line (1.3800). Success will lead the pound to advance to deeper targets: 1.3630 and 1.3460. The same maneuver with a short-term exit above the neutral level was made by the Marlin oscillator and now it is in the downward trend zone.

    The price is between the MACD line and the 1.3950 target level on the four-hour chart. The Marlin oscillator is formally in the growth zone, but it still moves horizontally along the border. A more probable development of the situation will be the price drift under the opening of the week (and under the MACD line on H4) and advance to the first target of 1.3800.

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    Forex Analysis & Reviews: Forecast for AUD/USD on March 16, 2021

    AUD/USD
    On the daily chart, the Australian dollar is trying to gain a foothold under the MACD indicator line. But for a complete consolidation, it is necessary for today to close with a black candle. The Marlin Oscillator has entered negative territory.

    It looks like the Australian dollar, along with the European currencies, is waiting for tomorrow's Fed meeting. But it may still slowly decline because oil, gold, metals, and a number of agricultural commodities are getting cheaper yesterday and this morning.

    On the four-hour chart, the price is still above the MACD line. A decline in the price below 0.7724 will be a signal to open short positions. Marlin is already in the negative zone.

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    Forex Analysis & Reviews: Forecast for AUD/USD on March 17, 2021

    AUD/USD
    Yesterday, the Australian dollar consolidated under the blue MACD indicator trend line on the daily chart. This signals a change in the trend that reversed from the 0.8010 mark on February 25. At the same time, the Marlin Oscillator has entered the downward zone, thereby putting relevance to the target levels set at 0.7615, 0.7565 and 0.7500 on the specified chart.

    The price in the H4 chart is still above the MACD line, but the Marlin oscillator shows that it is determined to break through this support immediately. During the past day, an attempt was made to break through the MACD line, but ended unsuccessfully. Today, there will be a stronger pressure from the outcome of the FOMC meeting. If the price moves below the MACD line (0.7717), the path will be opened towards the first target level of 0.7615.

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