Instaforex Analysis

**InstaForex Gertrude** · 06-10-22, 05:44

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

The euro fell by 100 points yesterday, returning below the target level of 0.9950 and under the MACD indicator line of the daily scale. The lower shadow of the daily candle worked out the support of 0.9855. We also note that the price reversal occurred from the balance indicator line (moving red), which separates the interests of strategic bulls and bears.

From the standpoint of this indicator, it can be seen that the entire growth of 4.5 figures of the last week had a corrective nature of the medium and long-term trends. Now, after the price goes under the nearest support of 0.9855, the next target level at 0.9724 will become available. The Marlin Oscillator is still in the positive area, the market is gathering strength to overcome the support of 0.9855.

On the H4 chart, the price divergence with the Marlin Oscillator turned out to be effective. The signal line of the oscillator touched the zero line and lingered for some time in front of it. Leaving the price under 0.9855 will give new strength to the euro to move down.

*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** · 11-10-22, 07:21

Forex Analysis & Reviews: Forecast for EUR/USD on October 11, 2022

Yesterday, the euro overcame the support of 0.9724, but has not yet consolidated below the level. To settle below this area, you need to close today's candle below this level. Of course, there is such a possibility, but the signal line of the Marlin Oscillator is turning up, which already calls into question the further vigorous price decline.

In case of reverse consolidation above the level of 0.9724, a corrective growth from the previous 4-day decline to the level of 0.9855 is possible. The condition for the continuation of the decline is to overcome yesterday's low of 0.9682.

The price consolidated under the MACD line and under the price level of 0.9724 on the four-hour chart. The Marlin Oscillator is in negative territory. The overall situation is down, and unless there is some very positive news for the eurozone, the decline may continue. Aim for 0.9520.

*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** · 12-10-22, 07:30

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

Yesterday, the euro traded in a solid range of 103 points, but the closing of the day was almost at the opening level and in fact the price settled on the daily chart, under the key level of 0.9724. As a result, now we are waiting for a more confident price decline to the level of 0.9520.

Eurozone industrial production data for August will be released today. An increase of 0.6% and an improvement in the annual rate from -2.4% to 1.2% y/y are expected. Market participants will be drawn to today's release of the FOMC minutes from the last meeting - investors need to find out if their federal funds rates are justified in the 78% probability of a 0.75% rate hike at the Federal Reserve meeting on November 2.

On the four-hour chart, the price consolidated under the MACD line and under the level of 0.9724 now after a false exit above these lines. We look forward to continuing the chosen course. Not far from the target level of 0.9520 is an intermediate target of 0.9554 – the low of September 26th. The level is strong, so the target of the movement can be defined as a range of 0.9520/54.

*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** · 13-10-22, 07:45

Forex Analysis & Reviews: Forecast for EUR/USD on October 13, 2022

Yesterday's publication of the minutes from the last Federal Reserve meeting showed a rather hawkish mood of the members of the monetary policy committee, but the markets practically did not react to it, if we do not take into account a brief revival at the time of the immediate release.

Today the focus will be on US inflation data for September. Core CPI is projected to rise from 6.3% y/y to 6.5% y/y, headline CPI is expected to decline to 8.1% y/y from 8.3% y/y in August. If we add to these mixed forecasts the expected increase in initial jobless claims, which is expected to increase from 219,000 to 225,000, that is, with a jump above the one and a half month data, then preferences for long positions on the dollar will prevail. The price is still consolidating below the 0.9724 level on the daily chart. The Marlin Oscillator is growing, so it is undesirable for the bears to delay pushing through the euro, as the bulls can become more active and consolidate above the specified key level. And the 0.9855 target opens above it. The main scenario assumes a decline to support 0.9520.

On the four-hour chart, the price is generally consolidating under the MACD indicator line. The Marlin Oscillator shows the intention to reverse down from the zero line. We are waiting for the price in the target range of 0.9520/54.

*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** · 14-10-22, 07:43

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

Yesterday was another day of high volatility. The euro traded in the range of 176 points, closing the day with an increase of 74 points. The price has moved above the resistance level of 0.9724, now the 0.9855 target is just ahead. The daily-scale MACD indicator line is approaching the level.

According to the first version of the correction, the growth may end in this area. According to the second option, the growth may continue to the level of 0.9955 - to the low of July 14, which will create a false exit of the price above the MACD line. If later the price returns and settles under the MACD line, then the subsequent decline may be below 0.9520.

The media cite arguments for the euro's growth: the market has fully priced in the Federal Reserve's November rate hike of 0.75% and even the "ceiling" of the rate of 4.85% in March next year. We allow such an interpretation and quote the euro at current levels at a rate of 4.85%, but then political factors should be removed from the components, including the latest event - sabotage at the Druzhba oil pipeline in Poland. Oil rose by 2.44% yesterday, the stock index S&P 500 by 2.60%. That is, there is a short-term return of market players to risk. At the same time, yields on US government bonds are not declining. So far, we are seeing a "shake-up" of the market on US inflation data. Yesterday, the core CPI for September showed an increase from 6.3% y/y to 6.6% y/y, while the overall CPI fell from 8.3% y/y to 8.2% y/y.

On the four-hour chart, the price settled above the level of 0.9724 and MACD line. Growth stopped at the balance line, which shows the consolidation of the "bulls" for a short-term turning point in their favor. Marlin Oscillator is in the growth zone. We are waiting for the end of the correction either at the nearest level of 0.9855 or at 0.9950, which is more likely due to the nature of yesterday's reversal.

*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** · 17-10-22, 06:28

Analytische Bewertungen Forex: Forecast for GBP/USD on October 17, 2022

The pound returned to the support of 1.1170 on Friday after British Prime Minister Liz Truss sacked Treasury Secretary Kwasi Kwarteng, who had been in office for just 38 days.

And since the sell-off of the pound was emotional (-148 points), today's opening was with a rising gap. The gap tells us that the market will try to close it, which will mean that the price will go under the support level of 1.1170, and then it may continue to decline to the support of 1.0815 - to the green price channel line.

*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** · 19-10-22, 07:45

Forex Analysis & Reviews: Forecast for EUR/USD on October 19, 2022

The euro stalled on the strong price level resistance at 0.9864 (September 6 low) in line with the daily MACD indicator line.

The Marlin Oscillator is growing in the positive area, which means that the price is preparing to exit above the resistance. If this attempt turns out to be successful, then the increase may last up to 0.9950/52, the low of July 14th. In order for the price to turn towards 0.9724, it needs to overcome the cluster of peaks on October 13-14 near the level of 0.9806.

The situation is similar on the lower timeframe; consolidating above 0.9864 will allow the euro to rise to the target level of 0.9950, consolidating under 0.9806 will again direct the quote in a downward direction to the target level of 0.9724.

*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** · 21-10-22, 06:15

Forecast for EUR/USD on October 21, 2022

The euro bulls did not want to give up easily yesterday - the trading range was 92 points and the day closed with a white candle of 15 points. On the technical side, the price took advantage of the confusion of the Marlin Oscillator at the zero neutral line.

But already in the Pacific session, yesterday's growth was blocked, the price again rushed to the nearest support of 0.9724, the Marlin Oscillator is pushing through the support of this zero line. A decline below 0.9724 opens the next target at 0.9520.

On the four-hour chart, the price makes a second attack on the support of the MACD line. The price also moved under the balance indicator line, which shows us the shift in the players' mood to sell. The Marlin Oscillator is moving deeper into the downward trend.

*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** · 25-10-22, 08:24

Forex Analysis & Reviews: Elliott wave analysis of Litecoin for October 25, 2022

Our preferred scenario for Litecoin shows that wave 2/ completed at 48.41 but we need a break above resistance at 55.94 to confirm the low and a rally to the neckline resistance near 65.10. Only a break above here will confirm a long-term corrective low being in place for the next strong rally higher to 97.38 and likely even closer to 116.85.

In the longer term, a break above the neckline resistance will indicate a new impulsive rally towards the former peaks in the 375 - 400 area.

*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** · 26-10-22, 09:58

Forex Analysis & Reviews: Elliott wave analysis of Litecoin for October 26, 2022

Litecoin has now broken above resistance at 56.43 which will be calling for more upside towards the S/H/S bottoms neckline near 65.00. A break above here will activate the bottom formation for a rally towards the S/H/S-target at 97.38 and possibly even the extension target at 116.85. However, in the longer term, we expect a much stronger rally and Litecoin to continue higher towards its all-time high near 400. Ultimately, the all-time high peak at 413.60 should be broken too, but it could be far out in the future. So, let's work with the data we have and take it in baby steps as always and look for a test of the neckline resistance at 65.00 as the next upside target.

*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** · 26-10-22, 10:05

US stock market closes higher, Dow Jones gains 1.07%

At the close of the New York Stock Exchange, the Dow Jones rose 1.07% to hit a monthly high, the S&P 500 rose 1.63% and the NASDAQ Composite rose 2.25%.

The top performer among the components of the Dow Jones index today was Nike Inc, which gained 3.71 points (4.22%) to close at 91.72. Quotes of American Express Company rose by 5.39 points (3.81%), closing the session at 147.02. Boeing Co rose 4.60 points or 3.24% to close at 146.65.

The biggest losers were The Travelers Companies Inc, which shed 3.70 points or 2.06% to end the session at 176.09. Amgen Inc was up 1.33 points (0.51%) to close at 259.99, while UnitedHealth Group Incorporated was down 1.38 points (0.25%) to close at 540. 22.

Leading gainers among the S&P 500 index components in today's trading were Centene Corp, which rose 10.47% to 83.75, IQVIA Holdings Inc, which gained 10.17% to close at 197.83, and shares of Charles River Laboratories, which rose 9.10% to end the session at 219.12.

The losers were Brown & Brown Inc, which shed 12.65% to close at 55.10. Shares of Cadence Design Systems Inc shed 5.55% to end the session at 151.32. Quotes W. R. Berkley Corp fell in price by 4.64% to 69.20.

Leading gainers among the components of the NASDAQ Composite in today's trading were Taysha Gene Therapies Inc, which rose 97.35% to hit 2.98, Fangdd Network Group Ltd, which gained 89.64% to close at 1.26. , as well as shares of Revelation Biosciences Inc, which rose 64.60% to close the session at 0.41.

The biggest losers were Hoth Therapeutics Inc, which shed 26.37% to close at 0.24. Shares of Mana Capital Acquisition Corp lost 23.24% to end the session at 5.99. Quotes TuanChe ADR fell in price by 18.45% to 6.32.

On the New York Stock Exchange, the number of securities that rose in price (2619) exceeded the number of those that closed in the red (487), while quotations of 112 shares remained practically unchanged. On the NASDAQ stock exchange, 2989 companies rose in price, 753 fell, and 241 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 4.66% to 28.46, hitting a new monthly low.

Gold futures for December delivery added 0.21%, or 3.55, to $1.00 a troy ounce. In other commodities, WTI crude futures for December delivery rose 0.39%, or 0.33, to $84.91 a barrel. Brent futures for January delivery fell 0.05%, or 0.05, to $91.16 a barrel.

Meanwhile, in the Forex market, EUR/USD rose 0.94% to hit 1.00, while USD/JPY fell 0.71% to hit 147.90.

Futures on the USD index fell 1.03% to 110.75.

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**InstaForex Gertrude** · 27-10-22, 08:19

Forex Analysis & Reviews: Gold still attractive for buyers

The price of gold dropped in the short term after reaching the 1,675 level. Now, it is traded at 1,664 at the time of writing. XAU/USD slipped lower as the DXY tried to rebound. Still, Gold could try to develop a new bullish momentum as the Dollar Index is under downside pressure.

Today, the fundamentals will drive the price, so you have to be careful. The ECB is expected to increase the Main Refinancing Rate from 1.25% to 2.00%. The Monetary Policy Statement and the ECB Press Conference could really shake the markets.

Also, the US Advance GDP is expected to register a 2.3% growth, Advance GDP Price Index may report a 5.3% growth, Unemployment Claims could be reported at 219K, Durable Goods Orders could register a 0.6% growth, while Core Durable Goods Orders may report a 0.2% growth.

As you can see on the H1 chart, XAU/USD found resistance at 1,668. The bias remains bullish as long as it stays above the uptrend line. Technically, after its strong growth, a temporary drop was natural.

Staying near the 1,668 resistance may signal an imminent breakout. Temporary consolidation could bring more bullish energy and attract more buyers.

XAU/USD Forecast!

Staying above the minor uptrend line and making a valid breakout above 1,675 could confirm further growth. A new higher high is seen as a buying opportunity. The 1,700 psychological level and the R2 (1,699) represent upside targets.

*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** · 28-10-22, 11:19

Forex Analysis & Reviews: Technical Analysis of GBP/USD for October 28, 2022

Technical Market Outlook: The GBP/USD pair has hit the projected target level at 1.1625 (61% Fibonacci extension of the wave A) and is approaching the intraday technical support seen at 1.1496. The local high was even made at the level of 1.1644 before the Pin Bar candlestick pattern forced bulls to pull-back towards the technical support. The market is ready to extend the breakout towards the projected target level located at 1.1717 (supply zone) or higher. The intraday technical support is seen at 1.1496 and 1.1544. The momentum is strong and positive, which supports the short-term bullish outlook for GBP. Only a sudden and strong breakout below the 30 periods moving average would change the imminent outlook to bearish.

Weekly Pivot Points:
WR3 - 1.15209
WR2 - 1.14338
WR1 - 1.13938
Weekly Pivot - 1.13467
WS1 - 1.13067
WS2 - 1.12596
WS3 - 1.11725

Trading Outlook:
The bears are still in charge of Cable and the next long-term target for them is the parity level. The level of 1.0351 has not been tested since 1985, so the down trend is strong, however, the market is extremely oversold on longer time frames already. In order to terminate the down trend, bulls need to break above the level of 1.2275 (swing high from August 10th).

*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** · 31-10-22, 05:14

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

On Monday, the euro faces the 0.9959 support level.The target level of 0.9864 is at the bottom, and at the top is the resistance of 1.0051 (high on September 20) and the upper limit of the price channel. In general, the dollar feels strong on the market, but there is also an increased interest in risk in the market, which can pull the euro up (on Friday, the S&P 500 added 2.46%).

On the other hand, Friday could also be the last day of such appetites, as the Federal Reserve is expected to raise the rate by 0.75% to 4.00% on Wednesday. Also, weak data on the eurozone may come out today. Retail sales in Germany for September are expected to be -0.3% m/m (decreasing at an annual pace from -4.3% to -4.9%), while euro area GDP for the 3rd quarter may be as low as 0.1%, which will reduce annual growth from 4.1% to 2.1%. The euro is more likely to decline from these positions. After consolidating under 0.9950, we are waiting for the price at 0.9864.

On the four-hour chart, the price is consolidating at the support level and on the MACD indicator line. Overcoming supports will be a signal to decline. More precisely, the signal level is Friday's low at 0.9927. The Marlin Oscillator is falling in negative territory.

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**InstaForex Gertrude** · 01-11-22, 06:27

Forex Analysis & Reviews: Forecast for EUR/USD on November 1, 2022

The euro undertook a downward breakout on Monday. Having made a path of 80 points, the euro has almost reached the target support of 0.9864. Apparently, the price lingered before the support to build up strength before it was overcome, as the support is strengthened by the MACD line (0.9840). Overcoming the formed range (0.9840/64) opens a further path to the target support at 0.9715 – to the April 2000 high.

The Marlin Oscillator is approaching the zero line on the daily. It is likely that the price will overcome the support range and the zero line oscillator at the same time. Such synchronization will lead to a powerful downward movement. In terms of timing, such a breakthrough may take place tomorrow - on the day of the Federal Reserve meeting.

On the four-hour chart, the price consolidated under the indicator lines of balance (red) and MACD. The Marlin Oscillator is developing in the downward trend zone. Today, consolidation is likely before the breakout of the planned supports, or even the first attempt at such a breakout.

*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** · 02-11-22, 07:07

Forex Analysis & Reviews: Elliott wave analysis of Litecoin for November 2, 2022

Litecoin is still fighting to break clear of resistance at 55.94. A break above minor resistance at 57.40 will confirm continuation higher towards the neckline resistance near 64.60. Only a break above here activates the formation for a rally towards the S/H/S target at 97.38 and possibly even closer to the extension target at 116.85. Only a break below support at 54.18 will delay the expected rally higher and call for a dip to 50.00 before turning higher again.

*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** · 03-11-22, 07:21

Forex Analysis & Reviews: Trading Signal for GBP/USD on November 3-4, 2022: buy above 1.1378 (200 EMA - bottom bearish channel)

In the next few hours, we could expect a technical bounce above the 200 EMA around 1.1378. So, the price could reach 3/8 Murray at 1.1474 and even 1.1550 (top bearish channel).

Conversely, in case of a sharp break below the 200 EMA and a daily close on the 4-hour chart below 1.1370, the currency pair could continue the bearish bias and the price could reach 2/8 Murray around 1.1230.

The eagle indicator is giving a negative signal and any bounce towards the psychological level of 1.15 will be considered a signal to continue selling. Our trading plan for the next few hours is to buy above the 200 EMA and above the bottom of the downtrend channel around 1.1378 with targets at 1.1474 and 1.1530.

On the other hand, the signal to sell will be activated if there is a strong break below 1.1370 (200 EMA) with targets at 1.1230.

As long as the GBP/USD pair trades within the downtrend channel formed since Oct 26, any technical bounce back towards the 21 SMA located at 1.14 98 will be seen as an opportunity to sell.

*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** · 07-11-22, 08:54

Forex Analysis & Reviews: USD/JPY analysis for November 07, 2022 - Triangle pattern in creation

USD/JPY has been trading sideways at the price of 147.45. I see potential for the breakout play. Trading recommendation:

Due to the range condition, watch for potential breakout of the trading range to confirm further direction. In case of the upside breakout of the resistance at 148.80, watch for buying opportunities with the upside objective at 151.85.

In case of the downside breakout of the support at 145.65, watch for selling opportunities with the downside objective at 141.85 *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** · 08-11-22, 06:48

Forex Analysis & Reviews: Forecast for AUD/USD on November 8, 2022

The Australian dollar managed to overcome the resistance of the MACD indicator line on the daily chart. Today it opened above this line. Now the price will try to master the target range of 0.6514/32. If it is overcome, then the next target will be the level of 0.6592.

The daily Marlin Oscillator is in the neutral position, and it reached a reversal level on October 27 and August 12 (0.0185 on the indicator scale), which increases the psychological tension in connection with the upcoming US Congressional elections today.

On the four-hour chart, the price is above the indicator lines, Marlin is in the positive area and shows the intention to develop a sideways movement. In general, the expectation is positive, that is, the market is preparing to meet the victory of the Republicans. But we are not in a hurry with such expectations, so we just follow the course of events.

*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** · 09-11-22, 07:35

Forex Analysis & Reviews: Elliott wave analysis of Litecoin for November 9, 2022

We have seen a deeper-than-expected correction here, as we have seen a correction to the 78.6% corrective target near 53.72, but then it's just in the middle of the fourth wave of one lesser degree, which is normally what we would expect to see. Therefore, we expect Litecoin to start the next journey higher towards the S/H/S bottom target at 97.38.

Only an unexpected break below the key support at 48.41 will invalidate our bullish scenario for the expected rally higher to 97.38 and above.

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

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