Instaforex Analysis

**InstaForex Gertrude** · 27-05-22, 08:41

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

Last night, the euro made a desperate attempt to break above the resistance of the MACD indicator line, and this morning it succeeded. The desperation of the moment is that yesterday's daily trading volumes were the lowest for the month. True, there was a holiday in Switzerland, but the price still needs to do a lot to strengthen the medium-term growth. At the first stage, the price should settle above the MACD line, that is, the day should be closed with a white candle. The nearest targets in this case will be the levels 1.0780 and 1.0830.

In the current situation, the Marlin Oscillator on the daily scale does not share the price's optimism, so it is worth waiting for the price's reaction at the target levels.

Marlin also does not share the price's optimism on the four-hour chart, there are early signs of the formation of a divergence, and in order to overcome it, the price needs to move noticeably higher.

At the moment, the strategically correct decision will be to wait for today's uncertainty.

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**InstaForex Gertrude** · 30-05-22, 07:23

Forex Analysis & Reviews: Forecast for GBP/USD on May 30, 2022

On the daily chart, the price has moved above the target level of 1.2637 with the rising Marlin Oscillator. Ahead of it is the target level of 1.2715. The MACD line is now below this level, but the price may slightly go above it even if it plans to turn down later. If the price consolidates above this level, then the growth may last up to 1.2970 - the path will become open.

On the four-hour chart, the price develops growth above the balance indicator line. The Marlin Oscillator turned up without reaching the border of the bears' territory. The rising trend is strong.

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**InstaForex Gertrude** · 31-05-22, 07:48

Forex Analysis & Reviews: Forecast for EUR/USD on March 31, 2022

Following the plan we described yesterday, the euro reached the target level of 1.0780 and turned down from it. The daily Marlin Oscillator supports this reversal. Now our attention is on the MACD indicator line (1.0693) – if the price overcomes it, then we can aim for the 1.0600 target. If the price does not overcome that level, then it may turn around to reach a higher level at 1.0830.

On the H4 chart, the price divergence with the oscillator has changed somewhat over the past day, but retains its influence. The signal line of the oscillator is in negative territory again. The MACD line here almost coincides with the MACD line on a daily scale. The 1.0693 level is of particular importance due to the coincidence of the indicator of different timeframes on it. As a result, the probability of working off 1.0600 with the price going lower, to the levels of 1.0493 and 1.0340, increases.

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**InstaForex Gertrude** · 01-06-22, 08:10

Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for June 1, 2022

We continue to look for more downside pressure as the correction from 140.04 should persist longer. That said the current rally from 132.66 could peak here at 138.50 but as always with X-waves or B-waves all possible options are open. Therefore, we could also see a flat correction back to test the 140.04 higher before turning lower. But also the option for an expanded flat is open and that would call for a break above 140.04 closer to 142.87 before turning lower again. To confirm that wave X is complete we need a break below minor support at 136.80 that would call for renewed downside pressure towards 130.22.

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**InstaForex Gertrude** · 03-06-22, 06:59

Forex Analysis & Reviews: Forecast for AUD/USD on June 3, 2022

The Australian dollar showed a very good growth on Thursday, at which it overcame the resistance of the MACD line (0.7212) and reached the target level of 0.7285 (high on February 23). Now, probably, it's time for a correction, which is warned by the Marlin Oscillator, the signal line of which is turning down. The reversal will be confirmed by the price returning under the MACD line, below 0.7212. The exit above 0.7285 and consolidating on lower timeframes can extend the growth to 0.7400.

The situation on the four-hour chart is similar to the higher timeframe - the general trend is upward, but it has primary signs of a reversal. As on the daily scale, we are waiting for the price to fall below the signal level of 0.7212. Just below it is the MACD line (0.7195), crossing this line will become a confirmation of the reversal signal.

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**InstaForex Gertrude** · 06-06-22, 07:53

Forex Analysis & Reviews: Forecast for EUR/USD on June 6, 2022

The optimistic data on US employment released on Friday helped the dollar to slightly strengthen against most world currencies. The euro fell by 27 points. The Marlin Oscillator resumed its decline on the daily chart. The price is moving towards the support of the MACD indicator line (1.0675). Breaking this line will open the target level at 1.0600. Consolidating below the level opens the 1.0493 target. This is the main scenario. A breakthrough above 1.0780 would naturally open the 1.0830 target, but a move higher to 1.0940 at that stage looks unlikely.

The price settled below the MACD line on the four-hour chart, the Marlin Oscillator has reached the border with the territory of the downward trend and is preparing to overcome it. We are waiting for the development of a downward trend.

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**InstaForex Gertrude** · 07-06-22, 05:31

Forex Analysis & Reviews: Forecast for EUR/USD on June 7, 2022

The euro is slowly declining according to the main scenario - moving towards the target level of 1.0493. Since the decline is not fast, the MACD indicator line managed to adapt to it and slightly decrease, thereby lowering the signal level to 1.0667. Now, in order to confidently hit the nearest target at 1.0600, it is necessary to go under 1.0667, otherwise the risk of a jump to 1.0780 will remain. The Marlin Oscillator is declining steadily, the main downside scenario is in force.

On the 4-hour chart, the Marlin Oscillator has entered negative territory. It, of course, helps the price to go under the signal level of 1.0667. Actually, the price develops under both indicator lines - under the balance line (red) and MACD(blue). The trend is downward.

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**InstaForex Gertrude** · 10-06-22, 02:00

Forex Analysis & Reviews: June 9, 2022 : EUR/USD daily technical review and trading opportunities.

In late September, Re-closure below the price level of 1.1700 has initiated downside-movement towards 1.1500 where some recovery was witnessed.

Shortly after, Price levels around 1.1700 managed to hold prices for a short period of time before another price decline took place towards 1.1200.

Then the EURUSD has temporarily moved-up within the depicted movement channel until downside breakout occurred recently.

Since then, the price zone around 1.1500 has applied significant SELLING pressure when a valid SELL Entry was offered upon the previous ascending movement towards it.

Shortly after, the EURUSD looked oversold while approaching the price levels of 1.0800. That's where the recent upside movement was previously initiated.

That's why, the recent movement towards 1.1200 was considered for another SELL Trade which is already running in profits now.

The current ascending movement above 1.0600 enabled further advancement towards 1.0850 where bearish rejection can be applied.

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**InstaForex Gertrude** · 10-06-22, 07:15

Forex Analysis & Reviews: Forecast for AUD/USD on June 10, 2022

Yesterday, the Australian dollar decreased under powerful pressure of foreign markets: oil fell by 0.81%, iron ore by 1.18%, S&P 500 -2.38%, the dollar index 0.73%. The aussie lost 91 points.

During the fall, the price overcame the target level of 0.7136, now it faces the nearest level of 0.7037 - the low on May 25 and other historical extremums. With overcoming support, it is likely to decrease to 0.6951 - to the low of May 18. On a four -hour timescale, the price settled under 0.7136, the MACD line turned down, Marlin in the descending trend area. We are waiting for the continuation of the decline in the medium term.

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**InstaForex Gertrude** · 13-06-22, 07:37

Forex Analysis & Reviews: ETHUSD, Potential For Bearish Drop | 13th June 2022

On the H4, with price expected to bounce off the support of the stochastics indicator, we have a bullish bias that price will rise from the 1st support at 1480c in line with the horizontal swing low support and 161.8% Fibonacci extension to our 1st resistance at 1727 in line with the 50% fibonacci retracement and horizontal pullback resistance. Alternatively, price may break structure and head for 2nd support at 1309 in line with the 161.8% Fibonacci projection level.

Trading Recommendation
Entry: 1727
Reason for Entry: 50% fibonacci retracement and horizontal pullback resistanceTake Profit: 1727
Reason for Take Profit: 50% fibonacci retracement and horizontal pullback resistance
Stop Loss: 1309
Reason for Stop Loss:
161.8% Fibonacci projection

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**InstaForex Gertrude** · 14-06-22, 08:15

Forex Analysis & Reviews: Forecast for EUR/USD on June 14, 2022

Yesterday, the euro was ahead of our forecast - there was a fall of 108 points and now the price is halfway to the target level of 1.0340. There are no obstacles on this path, but the whole question is the speed of further decline. Perhaps today the price will still stop simply because the Federal Reserve will announce its decision on monetary policy tomorrow evening.

It rarely happens when investors are ahead of the curve. But maybe yesterday and today exactly such frequent events occur? Anyway, we are waiting for the price at the target level of 1.0170 in the future for several days.

There is a strong downward local trend on the four-hour chart. The Marlin Oscillator still cannot go deeper into the oversold area and it needs a release. If there is no release, then tomorrow there may be a surprise on the topic "the markets have already taken the rate hike into account". Therefore, today we are still waiting for the price to consolidate so that Marlin can grow and discharge before tomorrow's further decline.

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**InstaForex Gertrude** · 15-06-22, 08:23

Forex Analysis & Reviews: Trading plan for GBPUSD for June 15, 2022

Technical outlook:
GBPUSD dropped through the 1.1933 level on Tuesday before finding bids again. The currency pair managed to rally through 1.2040 thereafter, taking out initial resistance at the 1.2031 mark on the hourly chart. It is seen to be trading around the 1.1990 level at this point of writing and is expected to move higher towards the 1.2665 mark in the near term.

The 1.2665 mark is the initial resistance on the daily chart, and a break there will confirm that a meaningful bottom is in place and that the trend has potentially reversed. Bulls will be poised to hold prices above 1.1900 to keep the medium term favorable for a continued rally. Also note that GBPUSD has dropped through the Fibonacci 0.786 retracement of a larger degree upswing (not seen here).

GBPUSD's overall wave structure remains bullish with the larger degree upswing between 1.1400 and 1.4250 and has retraced through the 78.6% levels. If the above structure holds well, bulls will stage an impressive rally from current levels pushing prices through the 1.2665 mark in the near term.

Trading plan:
Potential rally through 1.2665 against 1.1800

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**InstaForex Gertrude** · 16-06-22, 10:04

Forex Analysis & Reviews: Forecast for EUR/USD on June 16, 2022

On Wednesday, the US Federal Reserve raised its base rate from 1.00% to 1.75%, in line with bold expectations. The majority of investors expected an increase to 1.50%. The sharp increase in the rate led to massive purchases of US government bonds, th

Yesterday, the euro traded within the range of target levels 1.0340-1.0493. Its growth is visually perceived as a correction. We believe that the imbalance of the single currency due to a strong rate hike will end today, so we are waiting for the closing of the day with a decrease. And then we are waiting for the price to leave under the support of 1.0340 and advance to 1.0170. On the four-hour chart, the Marlin Oscillator shows the intention to turn down from the border with the growth territory. It is very similar to the fact that the oscillator is forming a short-term range in the negative zone. And this is consolidation before the next decline.

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**InstaForex Gertrude** · 17-06-22, 07:55

Forex Analysis & Reviews: Forecast for USD/JPY on June 17, 2022

For the last two days, Wednesday and Thursday, the yen corrected after a strong growth since the final days of May. The correction ended at the embedded price channel line at 131.48. The Marlin Oscillator has not left the positive area, which confirms the corrective nature of the decline.

In today's Asian session the pair is trying to go over the resistance of the upper sloping line at 133.80 as soon as possible. If it succeeds, then the target opens at 135.59 (high on June 15), then 137.20.

On the 4-hour chart, the price had a good momentum before attacking 133.80, and above this level there is the MACD line (134.65), which needs to be overcome before the key event of the transition above 135.59. The Marlin Oscillator has not yet left the downward trend, it needs to do so as soon as possible, because without the help of the oscillator, the price may not move above the MACD line. The main scenario is rising.

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**InstaForex Gertrude** · 20-06-22, 09:50

Forex Analysis & Reviews: Technical Analysis of EUR/USD for June 20, 2022

Technical Market Outlook:
The EUR/USD pair had almost retraced 61% of the last wave down and made a Pin Bar candlestick at the level of 1.0661, 14 pips away from the Fibonacci retracement level. Since then, the bulls keep trying to continue the bounce, keep making the local pull-backs, but the level of 1.0615 is still unreachable for them. The nearest technical support is seen at 1.0469 - 1.0448, so as long as the market trades above this zone, the outlook remains bullish. Please notice, that despite the recent efforts, the bulls are still trading inside the bearish zone and they need to break above the level of 1.0678 to enter the bullish zone.

The up trend can be continued towards the next long-term target located at the level of 1.1186 only if the complex corrective structure will terminate soon (above 1.0335) and the market breaks above 1.0678 level. The bullish cycle scenario is confirmed by breakout above the level of 1.0726, otherwise the bears will push the price lower towards the next long-term target at the level of 1.0335 or below.

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**InstaForex Gertrude** · 21-06-22, 07:37

Forex Analysis & Reviews: ETHUSD, Potential For Bearish drop | 21st June 2022

Description On the H4, with price moving below our ichimoku cloud, we have a bearish bias that price will drop to our 1st support at 702 in line with the 78.6% Fibonacci projection level from our 1st resistance at 1282 in line with the horizontal pullback resistance is. Alternatively, price may not break structure and head for our 2nd resistance at 1739 where the pullback resistance and 23.6% Fibonacci retracement.

Trading Recommendation
Entry: 1282 Reason for Entry: Horizontal pullback resistance
Take Profit: 702Reason for Take Profit:78.6% Fibonacci projection
Stop Loss: 1739 Reason for Stop Loss:Horizontal pullback resistance and 23.6% Fibonacci retracement

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**InstaForex Gertrude** · 22-06-22, 07:30

Forex Analysis & Reviews: GBPUSD Potential For Bullish Continuation | 22nd June 2022

Description: On the H4, with prices expected to bounce off the ichimoku support, we have a bullish bias that price will rise from our 1st support at 1.21846 where the horizontal overlap support,50% fibonacci retracement and 61.8% fibonacci projection to our 1st resistance at 1.24327 in line with the 61.8% fibonacci projection, 78.6% fibonacci retracement and pullback resistance. Alternatively, price may break 1st support structure and head for 2nd support at 1.19313 where the horizontal swing low support is.

Trading Recommendation
Entry: 1.21846Reason for Entry:horizontal overlap support,50% fibonacci retracement and 61.8% fibonacci projection
Take Profit: 1.24327Reason for Take Profit:61.8% fibonacci projection, 78.6% fibonacci retracement and pullback resistance
Stop Loss: 1.19313Reason for Stop Loss: horizontal swing low support

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**InstaForex Gertrude** · 23-06-22, 07:27

Forex Analysis & Reviews: USDCHF, Potential For Bullish rise | 23rd June 2022

Description : On the H4, with the price expected to bounce off the RSI indicator, we have a bearish bias that price will rise from our 1st support at 0.95475 where the horizontal swing low support and 100% Fibonacci projection is to our 1st resistance at 0.97148 in line with the horizontal swing high resistance. Alternatively, price may break structure and head for 2nd support at 0.94114 where the 127.2% Fibonacci extension is.

Trading Recommendation
Entry: 0.95475 Reason for Entry: Horizontal swing low support and 100% Fibonacci projection
Take Profit: 0.97148Reason for Take Profit:Horizontal swing high resistance
Stop Loss: 0.94114Reason for Stop Loss:127.2% Fibonacci extension

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**InstaForex Gertrude** · 24-06-22, 07:46

Forex Analysis & Reviews: USDJPY Potential For Bullish Continuation | 24th June 2022

Description:
On the H4, with price moving above the ichimoku indicator, we have a bullish bias that price will rise from our 1st support at 135.536 in line with the pullback support and 23.6% fibonacci retracement to our 1st resistance at 138.846 where the 161.8% fibonacci extension and 78.6% fibonacci projection are . Alternatively, price may break 1st support structure and head for 2nd support at 131.607 in line with the swing low support,78.6% fibonacci projection and 50% fibonacci retracement.

Trading Recommendation
Entry: 135.536
Reason for Entry:horizontal pullback support and 23.6% fibonacci retracement
Take Profit: 138.846
Reason for Take Profit:161.8% fibonacci extension and 78.6% fibonacci projection
Stop Loss: 131.607
Reason for Stop Loss: horizontal swing low support,78.6% fibonacci projection and 50% fibonacci retracement

Analysis are provided by InstaForex

**InstaForex Gertrude** · 27-06-22, 11:40

Forex Analysis & Reviews: USDCAD, Potential For Bullish Bounce | 27th June 2022

On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise from our 1st support at 1.28647 where the horizontal swing low support and 38.2% Fibonacci retracement is to our 1st resistance at 1.30128 in line with the horizontal swing high resistance. Alternatively, price may break structure and head for 2nd support where the horizontal pullback support and 61.8% Fibonacci retracement.

Trading Recommendation
Entry: 1.28647 Reason for Entry: Horizontal swing low support and 38.2% Fibonacci retracement
Take Profit: 1.30128
Reason for Take Profit: Horizontal swing high resistanceStop Loss: 1.27189 Reason for Stop Loss:
Horizontal pullback support and 61.8% Fibonacci retracement

Analysis are provided by InstaForex