Instaforex Analysis

**InstaForex Gertrude** · 24-03-22, 06:15

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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**InstaForex Gertrude** · 25-03-22, 10:19

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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**InstaForex Gertrude** · 28-03-22, 06:24

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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**InstaForex Gertrude** · 29-03-22, 08:02

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

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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**InstaForex Gertrude** · 31-03-22, 08:12

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.

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**InstaForex Gertrude** · 01-04-22, 07:51

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.

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**InstaForex Gertrude** · 04-04-22, 08:39

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

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**InstaForex Gertrude** · 06-04-22, 07:20

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.

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**InstaForex Gertrude** · 07-04-22, 08:08

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.

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**InstaForex Gertrude** · 08-04-22, 08:01

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.

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**InstaForex Gertrude** · 11-04-22, 07:51

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.

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**InstaForex Gertrude** · 12-04-22, 10:07

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.

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**InstaForex Gertrude** · 13-04-22, 07:59

Forex Analysis & Reviews: Trading plan for EURUSD for April 13, 2022

Technical outlook:
EURUSD prints yet another higher low around 1.0811 mark during the early Asian session on Wednesday. The single currency pair remained shy by just five pips from testing the previous swing low at 1.0806. It is seen to be trading around 1.0833 level at this point in writing and a push through 1.0910 could confirm a bottom in place.

EURUSD has shown quite resilience as bulls defended 1.0806 swing low. If a potential bottom is in place at 1.0811, price would continue higher and break above 1.0910-20 initial resistance. On the flip side, it 1.0806 breaks down, bears might print a shallow low before bulls are back in control. Both scenarios present a bullish picture over medium term.

EURUSD is already producing a bullish divergence on the daily RSI as prices remained just five pips away from printing fresh lows below 1.0806 mark. The divergence is not shown here but it is a potential trend reversal indicator going forward. It would be interesting to see a break above 1.0910-20 mark as the day progresses.

Trading plan:
Potential rally towards 1.1500 against 1.0700
Good luck!

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**InstaForex Gertrude** · 18-04-22, 08:07

Forex Analysis & Reviews: ETHUSD, Bullish Bounce | 18th April 2022

On the H4, we see the price is near pivot level. Price can potentially bounce from 1st support level of 2955.24 in line with the 61.8% Fibonacci projection and 61.8% Fibonacci retracement towards the 1st resistance level of 3083.99 in line with 78.6% Fibonacci projection. Alternatively, price may break through key support structure and head for our 2nd support level of 2835.69 in line with 78.6% Fibonacci projection.

Trading Recommendation
Entry: 2955.24
Reason for Entry:
61.8% Fibonacci projection and 61.8% Fibonacci retracement.
Take Profit: 3083.99
Reason for Take Profit:78.6% Fibonacci projection.
Stop Loss: 2835.69
Reason for Stop Loss:
78.6% Fibonacci projection.

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**InstaForex Gertrude** · 19-04-22, 08:55

Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for April 19, 2022

As GBP/JPY has continue to make new highs for the rally since the 123.99 low we have reviewed our count. It's clearly possible to count a complete five wave rally from 123.99 to the present high at 166.60. What It also clear is that wave 4 is a triangle, which is normally a warning that the next impulsive rally will be the last of the total five wave sequence since the 123.99 low. That of course also means that the very best of the impulsive rally now is behind us and it's just a matter of time before GBP/JPY peaks and a larger corrective decline to 156.90 is seen.

We expect GBP/JPY to see its final peak at 168.26 where wave 5 will be 61.8% the length of wave 1 through wave 3.

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**InstaForex Gertrude** · 20-04-22, 08:11

Forex Analysis & Reviews: Trading plan for Ethereum for April 20, 2022

Technical outlook:
Ethereum managed to rally through $3,130 highs on Wednesday before finding resistance. The crypto has plled back since then and is seen to be trading close to $3,095 levels at this point in writing. Intraday corrective drop remains possible through $2,980 mark, before the rally resumes higher toward $3,800-4,000 zone.

Ethereum has been in a counter trend rally since $2,140 lows,and is looking to progress toward $3,800 at least before turning lower again. Also note that $3,800 is close to fibonacci 0.618 retracement of earlier drop between $4,850 and $2,140 levels respectively. Further, the channel resistance is also passing through $3,800-4,000 zone.

High probability remains for a turn lower if prices manage to reach the above projection, as resistance would be strong. Bears will remain poised to be back in control from $3,800-4,000 mark and drag prices lower below $2,140 levels. Watch out for short term intraday support coming through $2,980 mark today.

Trading plan:
Potential rally through $3,800-4,000 against $2,100.
Good luck!

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**InstaForex Gertrude** · 21-04-22, 11:16

Forex Analysis & Reviews: Technical Analysis of EUR/USD for April 21, 2022

Technical Market Outlook:
The EUR/USD pair had extended the bounce from the last week low seen at 1.0757, but so far the bounce is still rather shallow as the bearish/neutral market border located at 1.0887 has not been tested yet (the local high was made at the level of 1.0874 so far)If the last week low is clearly violated, then the bears might push the price towards the technical support seen at 1.0654 (the key long term technical support for bulls) despite the extremely oversold market conditions. The down trend continues lower and there is no indication of down trend termination or reversal yet. The nearest technical resistance is located at 1.0887 and 1.0899 (bearish/neutral market border).

Weekly Pivot Points:
WR3 - 1.1073
WR2 - 1.1001
WR1 - 1.0893
Weekly Pivot - 1.823
WS1 - 1.0717
WS2 - 1.0648
WS3 - 1.0538

Trading Outlook:
The market is still in control by bears that pushed the price way below the level of 1.1185, so a breakout above this level is a must for bulls for a trend reversal. The next long-term technical support is located at 1.0639. The up trend can be continued towards the next long-term target located at the level of 1.1494 (high from 06.02.2022) only if bullish cycle scenario is confirmed by breakout above the level of 1.1186 and 1.1245, otherwise the bears will push the price lower towards the next long-term target at the level of 1.0639 or below.

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**InstaForex Gertrude** · 25-04-22, 07:49

Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for April 25, 2022

GBP/JPY has see a nice drop from the 168.43 peak. We where looking for a peak at 168.26 so it was close to a bulls-eye regarding picking the top. We are now looking for a deeper and more prolonged corrective phase unfolding towards at least 158.25 and possibly closer to 150.10.

We have seen a nice five wave rally from 123.99 to 168.43 to complete the impulsive cycle and we are now looking for a corrective cycle for the coming month.

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**InstaForex Gertrude** · 26-04-22, 07:15

Forex Analysis & Reviews: Forecast for EUR/USD on April 26, 2022

The euro fell by 78 points yesterday. The 1.0636 key level (March 2020 low) is about 100 pips away, and now the price is correcting slightly before further preparations to overcome it.

The growing correction is expected to be small, the MACD indicator line on the four-hour chart (1.0755) serves as a reference point for its end. The price may slightly go above the indicator line. The Marlin Oscillator has turned up, it also tends to correct and discharge before further decline. Falling below yesterday's low at 1.0697 will start a new wave of decline for the euro.

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