Instaforex Analysis

**InstaForex Gertrude** · 27-04-22, 07:43

Forex Analysis & Reviews: Forecast for EUR/USD on April 27, 2022

The euro was ahead of our bold forecasts. We expected an attack on the target level of 1.0636 at the Federal Reserve meeting, but the price reached it last night, and at the point of intersection of the level with the lower border of the Fibonacci channel, marked in green on the daily chart. Consolidating below 1.0636 (March 2020 low) opens the way for the euro to parity. The first target is 1.0493 (February 2017 low).

On the four-hour chart, the price lingers at the reached level with a slight upturn of the Marlin Oscillator. Here, however, there may still be at least a slight correction in depth, in the form of consolidation, to give the oscillator a little rise before further decline. But if it does not exist, then after settling under 1.0636, we are waiting for further movement to 1.0493.

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**InstaForex Gertrude** · 28-04-22, 08:07

Forex Analysis & Reviews: Technical Analysis of EUR/USD for April 28, 2022

Technical Market Outlook
The EUR/USD pair had broken below the last week low seen at the level of 1.0757 and made a new swing low at the level of of 1.0481, however, in a case of the down move continuation, the next target for bears is seen at the level of 1.0336. This level is the key long-term technical support from 2020, so please keep an eye on the market behaviour around this level. The nearest technical resistance is located at 1.0654. Despite the oversold market conditions on the H4 and Daily time frame charts, the down trend continues and there is no indication of trend termination or reversal just yet. Weak and negative momentum supports the short-term bearish outlook.

Weekly Pivot Points:
WR3 - 1.1064
WR2 - 1.0994
WR1 - 1.0884
Weekly Pivot - 1.0825
WS1 - 1.0717
WS2 - 1.0643
WS3 - 1.0535

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** · 29-04-22, 08:11

Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for April 29, 2022

GBP/JPY is correcting nicely from the 168.43 peak and we should see more downside force being added in the near-term towards our first downside target at 158.15, but this support will likely break after a short while for a continuation towards support at 154.41 and possibly closer to 150.04.

So continue to look for more downside pressure near term.

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**InstaForex Gertrude** · 02-05-22, 08:21

Forex Analysis & Reviews: Technical Analysis of EUR/USD for May 2, 2022

Technical Market Outlook
The EUR/USD pair had made a new swing low at the level of 1.047 and in the meantime, the bulls are trying to bounce towards the lower channel line located around the level of 1.0573, which is the nearest technical resistance as well. So far they failed to move back into the descending channel, so in a case of the down move continuation, the next target for bears is seen at the level of 1.0336. This level is the key long-term technical support from 2020, so please keep an eye on the market behavior around this level. Despite the oversold market conditions on the H4 and Daily time frame charts, the down trend continues and there is no indication of trend termination or reversal just yet. Weak and negative momentum supports the short-term bearish outlook.

Weekly Pivot Points:
WR3 - 1.1064
WR2 - 1.0933
WR1 - 1.0710
Weekly Pivot - 1.0591
WS1 - 1.0363
WS2 - 1.0252
WS3 - 1.0032

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 long-term trend reversal. 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 1.0336 or below.

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**InstaForex Gertrude** · 03-05-22, 08:36

Forex Analysis & Reviews: Elliott wave analysis of Silver for May 3, 2022

Silver is testing support at 22.16 and could be ready for the next impulsive rally towards resistance at 30.00 and a break above here will release the energy for a continuation higher to the all-time high at 50.00. That said, if minor resistance at 23.56 is able to cap the upside, then silver could move closer to strong support near 21.65 before being ready to rally in the next impulsive move higher.

So for now we need to stay flexible and observe the market behavior near 22.16 and more importantly near minor resistance at 23.56 as a break will indicate the correction is complete and the next rally towards 30.00 is in motion.

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**InstaForex Gertrude** · 04-05-22, 07:35

Forex Analysis & Reviews: USDJPY, Potential for Bullish Continuation | 4th May 2022

On the H4, with price moving above the Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 131.240 where the swing high resistance is from our 1st support at 129.374 in line with the horizontal pullback support and 50% and 78.6 Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 127.240 where the horizontal swing low support is.

Trading Recommendation
Entry: 129.374
Reason for Entry:
Horizontal pullback support and 50% and 78.6 Fibonacci retracement
Take Profit:131.240
Reason for Take Profit: Horizontal swing high resistance
Stop Loss: 127.240
Reason for Stop Loss:
Horizontal swing low support

Analysis are provided by InstaForex

**InstaForex Gertrude** · 06-05-22, 08:30

Forex Analysis & Reviews: Technical Analysis of EUR/USD for May 6, 2022

Technical Market Outlook
The EUR/USD pair bounce had been capped at the level of 1.0636 after the Pin Bar candlestick pattern was made at the H4 time frame chart. The oversold market conditions on the Daily time frame chart, indicate the down trend continues and there is no indication of trend termination or reversal just yet. The nearest technical support is located at 1.0469. The bearish market border is located at 1.0755, so there is still a room for bears to try to resume the down trend.

Weekly Pivot Points:
WR3 - 1.1064
WR2 - 1.0933
WR1 - 1.0710
Weekly Pivot - 1.0591
WS1 - 1.0363
WS2 - 1.0252
WS3 - 1.0032

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 long-term trend reversal. 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 1.0336 or below.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 09-05-22, 08:15

Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for May 9, 2022

We see a should/Head/Should top building and the neckline support currently sitting near 159.63 a clear break below the neckline support will call for a continuation lower towards support at 157.96 and 154.14 as the next downside targets.

The neckline support should not be to difficult to break confirming the top and the continuation of wave C lower towards support near 134.14 and possibly even lower towards the 50% target at 150.09.

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**InstaForex Gertrude** · 10-05-22, 08:15

Forex Analysis & Reviews: GBPUSD Potential for Bearish Continuation | 10th May 2022

On the H4, with price moving below the Ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 1.24080 where the 38.2% Fibonacci retracement and pullback resistance is to our 1st support at 1.22677 in line with the 161.8% Fibonacci extension and horizontal swing low support is. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.24802 in line with the 61.8% Fibonacci retracement.

Trading Recommendation
Entry: 1.24080
Reason for Entry:
38.2% Fibonacci retracement and pullback resistance
Take Profit:1.22677
Reason for Take Profit:161.8% Fibonacci extension and horizontal swing low support
Stop Loss: 1.24802
Reason for Stop Loss:
61.8% Fibonacci retracement and horizontal pullback support

Analysis are provided by InstaForex

**InstaForex Gertrude** · 11-05-22, 07:20

Forex Analysis & Reviews: GBPUSD Potential for Bearish Continuation | 11th May 2022

On the H4, with price moving below the Ichimoku cloud, we have a bearish bias that price will drop from our 1st resistance at 1.24080 where the 38.2% Fibonacci retracement and pullback resistance is to our 1st support at 1.22677 in line with the 161.8% Fibonacci extension and horizontal swing low support is. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 1.24802 in line with the 61.8% Fibonacci retracement.

Trading Recommendation
Entry: 1.24080
Reason for Entry:
38.2% Fibonacci retracement and pullback resistance
Take Profit:1.22677
Reason for Take Profit:161.8% Fibonacci extension and horizontal swing low support
Stop Loss: 1.24802
Reason for Stop Loss:
61.8% Fibonacci retracement and horizontal pullback support

Analysis are provided by InstaForex

**InstaForex Gertrude** · 12-05-22, 06:25

Forex Analysis & Reviews: Forecast for EUR/USD on May 12, 2022

Yesterday, the euro decided neither to actively rise nor to decline. The price continues to consolidate above the support level of 1.0493. The price drop below this level opens the target range of 1.0340/65. The reference point for its lower boundary is the January 2017 low. Yesterday's fall in stock markets (S&P 500 -1.65%), caused by persistently high inflation (monthly CPI growth for April is shown at 0.3%, and the decrease in annual pressure from 8.5% to 8.3%) completely deprives investors of interest to risk. As a result, the probability of the euro falling to the lower border of the price channel with an attempt to overcome it increases.

The price is on the MACD line on the four-hour chart, which so far shows its neutral state, but at the same time, it is below the balance line and the Marlin Oscillator is in the negative area.

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**InstaForex Gertrude** · 13-05-22, 07:05

Forex Analysis & Reviews: Forecast for GBP/USD on May 13, 2022

Yesterday the pound broke through the target level of 1.2250, now it is hardly moving towards the next support at 1.2073 (May 2020 low). The difficulty is created by the convergence with the Marlin Oscillator on the daily scale. However, the convergence is not pronounced, it can be easily broken and lose its already weak appearance.

There is also a slight divergence on the four-hour chart, the signal line of the Marlin Oscillator is consolidating in the range rather than trying to indicate the trend's potential. The most likely development in the current conditions is a gradual decline to the target level of 1.2073 under the MACD line, as it has been for the last week.

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**InstaForex Gertrude** · 16-05-22, 09:00

Forex Analysis & Reviews: Technical Analysis of GBP/USD for May 16, 2022

The GBP/USD pair has been seen bouncing from the swing low located at the level of 1.2155. Despite the oversold market conditions on the H4 and Daily time frame charts there is no indication of trend termination or reversal just yet, so any move up must be seen only as a corrective cycle during the down trend. The bearish pressure continues and the next technical support is seen at the level of 1.2165 and 1.2072. The immediate intraday technical resistance is located at 1.2297 and 1.2325.

Weekly Pivot Points:
WR3 - 1.2621
WR2 - 1.2514
WR1 - 1.2371
Weekly Pivot - 1.2267
WS1 - 1.2119
WS2 - 1.2008
WS3 - 1.1859

Trading Outlook:
The price broke below the level of 1.3000, so the bears enforced and confirmed their control over the market in the long term. The Cable is way below 100 and 200 WMA , so the bearish domination is clear and there is no indication of trend termination or reversal. The next long term target for bears is seen at the level of 1.1989. Please remember: trend is your friend.

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**InstaForex Gertrude** · 17-05-22, 08:09

Forex Analysis & Reviews: Elliott wave analysis of Crude Oil for May 17, 2022

Crude oil has just completed a symmetric triangle to the upside which calls for the next impulsive rally towards at least 134.34 and more likely closer to 159.94. If we see a runaway rally in wave 5, we could even see crude oil reach the 200 handle.

Short-term we see minor resistance near 116.64 before running higher for a test of the 134.34 target.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 18-05-22, 08:12

Forex Analysis & Reviews: Technical Analysis of GBP/USD for May 18, 2022

Technical Market Outlook:
The GBP/USD pair has been seen bouncing from the swing low located at the level of 1.2155 and bulls had broken through the immediate intraday technical resistance at 1.2411. The technical resistance located at the level of 1.2484 is being tested currently, so any breakout through this level will open the road towards 1.2615 - 1.2697 zone. Despite the oversold market conditions on the H4 and Daily time frame charts there is no indication of trend termination or reversal just yet, so any move up must be seen only as a corrective cycle during the down trend. The bearish pressure will likely resume soon and the next technical support is seen at the level of 1.2165 and 1.2072.

Weekly Pivot Points:
WR3 - 1.2621
WR2 - 1.2514
WR1 - 1.2371
Weekly Pivot - 1.2267
WS1 - 1.2119
WS2 - 1.2008
WS3 - 1.1859

Trading Outlook:
The price broke below the level of 1.3000, so the bears enforced and confirmed their control over the market in the long term. The Cable is way below 100 and 200 WMA , so the bearish domination is clear and there is no indication of trend termination or reversal. The next long term target for bears is seen at the level of 1.1989. Please remember: trend is your friend.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 19-05-22, 08:05

Forex Analysis & Reviews: Technical analysis Apple for May 19, 2022

Apple continues to push lower as expected and should continue lower towards the 38.2% corrective target at 113.08. As we saw it with Target (see our article just before) there is a clear risk, that the Market will be griped by fear and sell-off Apple in a major way.

Yes it's nice to have the newest iPhone, but is it a necessity? No it's not. If the Market starts to think in those terms, then the risk of a major sell-off is increased big time.

No matter, if the Market pushes Apple down in a major sell-off or in a more controlled way, the end result will be the same, a decline towards the 113.08 target and possible even closer to the 50% corrective target at 91.50.

Analysis are provided by InstaForex

**InstaForex Gertrude** · 20-05-22, 07:19

Forex Analysis & Reviews: Forecast for EUR/USD on May 20, 2022

Yesterday, the euro defied our main plan, suggesting a decline towards 1.0340, but it failed to break the resistance of the upper limit of the 1.0493-1.0600 range. If the price still manages to settle above the level of 1.0600, then the corrective growth may continue to the MACD line, to the area of 1.0710. Formally, the Marlin Oscillator, which has already moved into the positive area, can help the price, but there is a high risk of its quick return to the zero line, that is, form a false signal.

On the H4 chart, the price reversal from the level of 1.0600 has not yet been expressed. The Marlin Oscillator is not ahead of the price, while it is in the positive area. If the reversal takes place, it will not be fast, it may take two days to exit the range downwards. But this is our main scenario.

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**InstaForex Gertrude** · 23-05-22, 09:26

Forex Analysis & Reviews: Technical Analysis of GBP/USD for May 23, 2022

Technical Market Outlook:
The GBP/USD pair has bounced from the lows seen at the level of 1.2155 last week and continues to move higher. Currently, bulls has broken above the technical resistance located at 1.2511 (now intraday support) and are heading towards the key supply zone located between the levels of 1.2615 - 1.2697. Any violation of this zone would change the short-term outlook to more bullish as the market could target even the level of 1.3000 again. The strong and positive momentum support the short-term bullish outlook for Cable, however the market conditions look overbought and quick pull-back is welcome.

Weekly Pivot Points:
WR3 - 1.2933
WR2 - 1.2731
WR1 - 1.2632
Weekly Pivot - 1.2626
WS1 - 1.2321
WS2 - 1.2106
WS3 - 1.2001

Trading Outlook:
The price broke below the level of 1.3000 six weeks ago, so the bears enforced and confirmed their control over the market in the long term. The Cable is way below 100 and 200 WMA , so the bearish domination is clear and there is no indication of trend termination or reversal. The bulls are now trying to start the corrective cycle, which is welcome after eight weeks of the down move. The next long term target for bears is seen at the level of 1.1989. Please remember: trend is your friend.

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**InstaForex Gertrude** · 25-05-22, 08:06

Forex Analysis & Reviews: Forecast for EUR/USD on May 25, 2022

Yesterday the euro chose to continue the correction with the full development of the MACD indicator line. The daily Marlin Oscillator is turning down, of course, a downside scenario is more likely. Targets for a decline are marked on the chart: 1.0600, 1.0493, 1.0340.

The situation for the reversal looks even stronger on the four-hour chart: the price has formed a triple divergence with the Marlin Oscillator. At the same time, the signal line of the oscillator has formed a wedge, from which a downward breakthrough is already taking place. We are waiting for the price at the first target level of 1.0600.

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**InstaForex Gertrude** · 26-05-22, 07:29

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

The euro fell by 57 points on Wednesday. The daily candle has covered (engulfed) the white candle of Tuesday, which is one of the signs of a downward trend reversal. At the moment, the price is trying to grow, but it is being held by the balance (red) and MACD (blue) indicator lines. The Marlin Oscillator is turning down. The bears' goals remain the same: 1.0600, 1.0493, 1.0340.

The downward direction has not yet gained a foothold on the H4 chart. The leading Marlin Oscillator penetrated into negative territory yesterday, but did not settle on it on the first attempt. A significant signal of reaching the first target at 1.0600 will be when the price overcomes yesterday's low at 1.0642. The MACD line is just below the level of 1.0600, which strengthens it, so you should wait for the price to settle below it in order to carry out trading strategies with the euro target at 1.0493.

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