Instaforex Analysis

**InstaForex Gertrude** · 21-02-22, 08:09

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 22-02-22, 08:20

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 23-02-22, 08:12

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 24-02-22, 06:49

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 25-02-22, 10:45

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 28-02-22, 11:14

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 01-03-22, 08:25

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 02-03-22, 07:06

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 03-03-22, 08:10

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!

Analysis are provided by InstaForex

**InstaForex Gertrude** · 04-03-22, 09:57

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 07-03-22, 09:38

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 08-03-22, 08:04

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 09-03-22, 07:45

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 14-03-22, 07:43

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,

Analysis are provided by InstaForex

**InstaForex Gertrude** · 15-03-22, 08:25

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 16-03-22, 07:52

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!

Analysis are provided by InstaForex

**InstaForex Gertrude** · 17-03-22, 08:01

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!

Analysis are provided by InstaForex

**InstaForex Gertrude** · 21-03-22, 07:30

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%.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 22-03-22, 08:41

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.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 23-03-22, 06:38

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.

Analysis are provided by InstaForex