Instaforex Analysis

**IFX Yvonne** · 16-08-21, 13:17

Technical Analysis of ETH/USD for August 16, 2021

Crypto Industry News:

Christopher Perkins will become the new President and Managing Partner of CoinFund.

The information is important because it shows how strongly the blockchain industry and the cryptocurrency market have developed. Until a few years ago, it was hard to imagine a situation where a high-ranking employee in the financial sector (Perkins was one of Citigroup's CEOs) would quit everything to work in the cryptocurrency industry. Hiring a new CoinFund president is expected to positively affect the company's reputation.

CoinFund CEO on hiring Christopher Perkins

According to CoinFund founder and CEO Jake Brukhman, this is not only a milestone for the company, but an announcement of a trend in which Wall Street will start to pay attention to the possibilities of blockchain technology:

"Chris joining CoinFund is not only a major milestone for our firm, but is also indicative of a broader trend as Wall Street turns its attention to the opportunities within the blockchain-technology space".

Technical Market Outlook:

The ETh/USD pair has been seen rallying during the weekend. The bounce from the level of $3,122 was strong and bulls tested the recent high seen at the level of $3,330. Nevertheless, the bulls were not strong enough to close the daily candle above the level of $3,330, so it might be a time for another pull-back during the up trend. The immediate techncial support is seen at the level of $3,185 and $3,122.

Weekly Pivot Points:

WR3 - $3,888

WR2 - $3,615

WR1 - $3,448

Weekly Pivot - $3,162

WS1 - $3,024

WS2 - $2,746

WS3 - $2,578

Trading Outlook:

Ethereum have started the next wave up and violated the long-term target at the level of $3,000. The next long-term target for ETH is seen at the level of $4,394. Nevertheless, in order to continue the long-term up trend, the price can not break below the technical support at the level of $2,695. The level of $1,728 (61% Fibonacci retracement of the last big impulsive wave up) is still the key long-term technical support for bulls.

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

**InstaForex Gertrude** · 17-08-21, 07:51

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

AUD/USD
Yesterday, the Australian dollar reached the support of the embedded price channel line (0.7320) with a lower shadow on the daily timeframe. This trend line was broken this morning. The signal line of the Marlin Oscillator crossed the border with the area of the downward trend and now a bearish target of 0.7244 opens - the high of October 9, 2020.

There is a downward trend on the four-hour timescale: the price is decreasing under the balance and MACD indicator lines, the Marlin oscillator deepens in the negative zone. We are waiting for the price in the area of the specified target of 0.7244.

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**InstaForex Gertrude** · 18-08-21, 09:02

Forex Analysis & Reviews: Forecast for GBP/USD on August 18, 2021

GBP/USD
The pound lost 100 points yesterday, shifting the market balance towards medium and short-term sales, as the price went under the balance indicator line on the daily chart. The signal line of the Marlin Oscillator has penetrated the zone of negative values, now the 1.3646/70 target is open.

The situation is similar on the four-hour scale chart: the price is below the indicator lines, Marlin is in the negative zone. We are waiting for the correction to be completed and further downward movement of the price.

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**InstaForex Gertrude** · 19-08-21, 08:50

Forex Analysis & Reviews: Fall of the euro. What targets should be expected?

The fall of the current week indicates that the downward momentum has received a new round of development. Today, the monthly low is being updated and there are no restrictions on weakening yet. Now, the pair has reached the zone of the weekly average move, so it is necessary to fix part of the sales, as the probability of the formation of a corrective upward movement increases. The probability of continuing the fall next week is still above 80%.

A good target for medium-term fixations will be the level of 1.1591. So far, it looks optimistic. However, the number of applications for the purchase of the European currency is still quite large, which suggests a continuation of the decline within the average weekly moves, which amount to 140pp. In the next couple of days, it is better to concentrate on finding favorable selling prices for the instrument. We can consider the zone that was the August low last week.

Selling price - 1.1700
Stop loss - 1.1730
Take profit - 1.1591
Risk/profit ratio - 1 to 3

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**InstaForex Gertrude** · 20-08-21, 09:06

Forex Analysis & Reviews: Forecast for AUD/USD on August 20, 2021

AUD/USD
The Australian dollar showed a good move by falling 82 points yesterday, and has reached the target level of 0.7124 this morning. Below which is the second target level of 0.7060, but since today is Friday, investors can close positions to take all weekly profits, so a correction from 0.7124 is more likely to occur. On a daily scale, the Marlin Oscillator is flat.

On the four-hour chart, Marlin is rising against a decline in price, signaling a correction. At the moment, the MACD line limits the price's growth, approximately in the area of 0.7255, although the price does not necessarily have to rise there in its corrective growth.

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**InstaForex Gertrude** · 23-08-21, 08:29

Forex Analysis & Reviews: Forecast for AUD/USD on August 23, 2021

AUD/USD
Since the trading day opened, the Australian dollar is headed for correctional growth from the target level of 0.7124 reached on Friday. The Marlin Oscillator is turning upward with force, the correction may stretch for more than a week, until the MACD indicator line is worked out in the area of 0.7323, which also corresponds to the correction level of 23.6% of the entire movement since February 25.

The Marlin Oscillator is climbing up a steep trajectory on the four-hour scale chart, probably with the intention of settling above its own zero line, in the growth zone, and then continuing to grow at a normal rate. The first obstacle on the way to 0.7323 is the MACD line in the area of 0.7250. If the price does not settle above it, a reverse decline to 0.7124 is possible.

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**InstaForex Gertrude** · 24-08-21, 08:33

Forex Analysis & Reviews: Forecast for USD/JPY on August 24, 2021

USD/JPY
The drama continues for the yen. On yesterday's daily chart, the price touched the MACD indicator line and fell below the target level of 109.80. Due to this fall, the Marlin oscillator could not enter the zone of positive values. Now the price is struggling again with the level of 109.80. Apparently, for a successful exit above the MACD line, it needs to settle above this level (109.80), thus creating a base for an attack on resistance.

The Marlin Oscillator is holding on to an upward trend on the four-hour chart. The price is above the balance indicator line, but below the MACD line. Here, too, it will not hold back the price from creating a consolidation in the range between the level of 109.80 and the MACD line for the subsequent successful breakthrough of the interfering resistances. If, however, consolidation forms below the level of 109.80, then the price may return to the early support at 109.20.

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**InstaForex Gertrude** · 25-08-21, 08:22

Forex Analysis & Reviews: Forecast for AUD/USD on August 25, 2021

AUD/USD
The Australian dollar gained 49% on Tuesday, confirming its intention to take the target level of 0.7323. On the daily chart, this is the point of coincidence of the 23.6% Fibonacci level with the MACD indicator line. The Marlin oscillator pondered a little before the border with the growth zone, this is a small sign of a slowdown in price growth, because the aussie is slightly ahead of the market.

The price managed to settle above the MACD indicator line on the four-hour chart. Here, on the example of August 18, consolidation is possible, after which we expect further price growth.

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**InstaForex Gertrude** · 26-08-21, 08:22

Forex Analysis & Reviews: Forecast for USD//JPY on August 26, 2021

USD/JPY
Yesterday, the USD/JPY pair met the resistance of the MACD line on the daily chart for the last five days for the third time. And, as in previous cases, it could not overcome it. But this time there was one addition to the technical picture - the Marlin oscillator moved into the growing trend zone, and, what is also important, after testing the MACD line, the price did not begin to fall, as it did on August 19 and 23. At the moment, the price is struggling with the MACD line and breaking it above 110.12 will open the target at 110.60 - the price channel line of the higher timeframe.

The price is consolidating below the signal level of 110.12 on the four-hour timeline. And the price is above the MACD indicator line. The Marlin Oscillator is sideways in the positive trend zone. We are waiting for the price to settle above the signal level and growth to continue.

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**InstaForex Gertrude** · 27-08-21, 08:54

Forex Analysis & Reviews: Technical Analysis of GBP/USD for August 27, 2021

Technical Market Outlook:
The GBP/USD pair has failed to break above the 61% Fibonacci retracement seen at the level of 1.3772 and after the Pin Bar candlestick was made the bulls were rejected. The market is currently coming off the overbought conditions and this is not really helping the bulls. Any violation of the level of 1.3700 will open the road towards the next target for bears located at 1.3668. On the other hand, only a sustained breakout above the level of 1.3772 would have change the immediate outlook to more bullish.

Weekly Pivot Points:
WR3 - 1.4029
WR2 - 1.3959
WR1 - 1.3752
Weekly Pivot - 1.3680
WS1 - 1.3474
WS2 - 1.3399
WS3 - 1.3118

Trading Outlook:
The weekly time frame chart still shows, that the up trend is still intact and the corrective wave had terminated at the level of 1.3571. Only a sustained violation of the level of 1.3518 would trigger a bigger down move than a regular pull-back. The up trend can be continued towards the next long-term target located at the level of 1.4246 (high from 24.02.2021).

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**InstaForex Gertrude** · 30-08-21, 07:56

Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for August 30, 2021

EUR/JPY broke briefly below key-support at 128.29. The big question is whether this was a forewarning of more downside pressure towards 124.97 or this was a Bear-trap which a break above short-term key resistance at 130.56 will confirm it was. A break above short-term key resistance at 130.56 will also make the S/H/S top-formation a failed pattern, which will call for a rally towards 135.42 and maybe even higher as a lot will be caught short of EUR which they will need to cover fast.

So, we need a break below support at 127.95 to get a signal for a move to 124.97 or a break above resistance at 130.56 to get a call for a rally towards 135.42. Be patient and wait for the signal.

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**InstaForex Gertrude** · 31-08-21, 07:56

Forex Analysis & Reviews: Forecast for AUD/USD on August 31, 2021

AUD/USD
The Australian dollar touched the point of intersection of the 23.6% Fibonacci level with the MACD line with yesterday's high and dropped 15 points. But the Marlin Oscillator does not show a reversal, the price is preparing to overcome the resistance reached at 0.7321. The success of this venture may be accompanied by an increase to the next Fibonacci level of 38.2% at 0.7452.

On the four-hour chart, the price is consolidating below the 0.7321 level, the Marlin oscillator turns up without crossing the zero line - the border with the territory of the downward trend. We are waiting for further price growth.

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**InstaForex Gertrude** · 01-09-21, 08:10

Forex Analysis & Reviews: What's next after the development of the EUR/USD upward pattern?

The EUR/USD pair reached the Weekly Control Zone of 1.1857-1.1840 yesterday, which indicates the completion of the upward cycle. The next movement will depend on testing the first support zone.

Today, the Weekly Control Zone of 1/4 1.1801-1.1797 is being tested. The pair's movement will continue in the first half of September depending on the reaction to this zone. If the pair manages to break through this zone and consolidates below during today's European session, then the decline will become interesting again for termination this week.

Trading in a downward direction can become a priority for a long time. If yesterday was the first day of the new cycle, then the second half of the week will be a decline to the WCZ 1/2 1.1757-1.1749. The daily lows will be updated for the next two days.

Time will tell whether the fall will lead to a medium-term reversal and a test of WCZ 1/2. This zone is located at a significant level of the market maker formed last week. The probability of a large demand for its test is quite high.

*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

**InstaForex Gertrude** · 02-09-21, 07:17

Forex Analysis & Reviews: Forecast for USD/JPY on September 2, 2021

USD/JPY
The yen continues to confuse with incessant false movements in both directions. A growth spike was shown yesterday and it can be interpreted as an unsuccessful attempt to rise to the target of 110.62 - to the embedded price channel line. Yesterday's closing took place below the MACD indicator line, and today it also opened below it.

At the same time, US stock indices showed weakness: Dow Jones -0.14%, S&P 500 +0.03%, technological Nasdaq (an extremely speculative sector of the modern era) at 0.33%. We expect weak data on employment in the US tomorrow, the stock market will fall, and the USD/JPY pair will fall accordingly. The target for the decline at 109.20 is the June 8 low.

On the four-hour scale chart, the balance and MACD indicator lines keep the price from falling, but the Marlin oscillator is already in the negative area. A signal to fall is when the price moves below the target level of 109.85, which is below these indicator lines.

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**InstaForex Gertrude** · 03-09-21, 08:16

Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for September 3, 2021

EUR/JPY is currently testing key-resistance at 130.56 and we expect a temporary break above followed by a correction towards 129.63 before the next rally higher trough the key-resistance to confirm the final impulsive rally in wave 3 towards 135.42.

A break above key-resistance at 130.56 will give us a failed S/H/S top pattern and failed patterns often result in strong moves in the opposite direction of the failed pattern. The S/H/S top would indicate a decline, while the failed pattern calls for a rally instead.

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**InstaForex Gertrude** · 06-09-21, 07:37

Forex Analysis & Reviews: Forecast for GBP/USD on September 6, 2021

GBP/USD
The British pound hit the first target (1.3883) on Friday. Now it should rise above this level, settling above it, and continue to rise to the second target at 1.4004, also determined by the embedded price channel line. The Marlin oscillator is rising, helping the price meet this target.

The trend is fully upward on the four-hour chart: the price is above the balance and MACD indicator lines, the Marlin oscillator is in the growth zone. We are waiting for the price to settle above the level of 1.3883 and its further growth.

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**InstaForex Gertrude** · 07-09-21, 08:30

Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for September 7, 2021

We continue to look for renewed upside pressure through minor resistance at 153.48 to call for the next impulsive rally towards the next upside target seen at 159.75 to complete wave v/ of iii and set the stage for a temporary correction/consolidation in wave iv before the next rally higher.

Longer-term we are looking for a rally to at least 163.00 and possibly a lot higher than that, as a long-term rally towards 205 clearly is an option, but not a given fact. A a lot can still happen a cut the ongoing rally short near 163, but only time will show.

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**InstaForex Gertrude** · 08-09-21, 08:29

Forex Analysis & Reviews: Elliott wave analysis of Ripple for September 8, 2021

Ripple completed a five wave rally in wave i with the test of 1.4162. We should now see a corrective decline in wave ii close to the 61.8% corrective target of wave i near 0.8560 before the next rally higher to at least 1.7600 and possibly even closer to the extension target for wave iii near 2.3226 takes place.

Ultimately. we are looking for a rally to 3.2000 in this impulsive sequence.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 09-09-21, 09:14

FOREX ANALYSIS & REVIEWS: TRADING PLAN FOR EURUSD FOR SEPTEMBER 09, 2021

Technical outlook:
EURUSD has slipped toward 1.1800 mark since printing 1.1900 highs over the last week. The drop is corrective and bulls might be inclined to come back in control, pushing prices higher towards 1.2050 levels, going further. Probability also remains for a drop towards 1.1750 first, before resuming its rally. Either way, EURUSD is in a corrective wave from 1.1900/10 high.

EURUSD is seen to be trading close to 1.1810/15 mark at this point in writing and could be preparing to push higher towards 1.1870/80 mark in the immediate short term. Immediate price resistance is at 1.1910, while support comes in around 1.1660 mark respectively. The pair could drop toward 1.1750 to complete its gartley structure before resuming higher towards 1.2050 mark.

The overall structure remains bearish toward 1.1300 mark in the medium term. In the short term though, a counter trend rally towards 1.2050 remains possible though. Also note that 1.2030/50 is the fibonacci 0.618 retracement of the drop between 1.2266 and 1.1660 respectively. High probability remains for a bearish turn if prices manage to reach there.

Trade Alan:
Potential to push towards 1.2050 against 1.1650. Good luck!

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**InstaForex Gertrude** · 10-09-21, 08:09

Forex Analysis & Reviews: Trading plan for EURUSD for September 10, 2021

Technical outlook:
EURUSD is consolidating within a tight range after dropping to a low of 1.1806 on Thursday. The pair is expected to push higher towards the 1.1865-70 zone during the day before finding resistance again. It is expected to slide towards 1.1750 in the next few trading sessions before bulls can resume higher to the 1.2050 level.

EURUSD is unfolding into a counter-trend rally toward 1.2050 in the near term before resuming lower towards the larger trend. Also note that the pair is carving a counter-trend within the counter trend and is expected to first drop toward 1.1750, then rally towards 1.2050 levels respectively. EURUSD is facing immediate resistance at 1.1900 while support is seen around 1.1800 levels respectively.

Overall wave structure remains bearish towards 1.1300 but medium term remains pointed higher to 1.2050-1.2100 zone. Also note that 1.2050 is near Fibonacci 0.618 retracement of the drop between 1.2266 and 1.1660 levels respectively. Hence, probabilities remain high for a bearish reversal f prices manage to reach there.

Trading plan:
Potential to rally toward 1.2050 against 1.1660.
Good luck!

Analysis are provided by InstaForex