Instaforex Analysis

**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!

Analysis are provided by InstaForex

**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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**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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