Instaforex Analysis

[Instaforex Bella]

Forex Analysis & Reviews: XAU/USD review and analysis: Gold looks poised for further gains

For eight consecutive days, the price of gold has been gaining strong positive momentum. Expectations that the Federal Reserve will begin to lower interest rates in June are keeping bulls on the U.S. dollar on the defensive and are a key factor directing flows towards the non-yielding yellow metal. Additionally, ongoing geopolitical tensions and economic problems in China provide support to this safe-haven asset.

Meanwhile, Minneapolis Fed President Neel Kashkari played down rumors of a more aggressive policy easing. This, in turn, prompted a modest rebound in U.S. Treasury yields and helped limit the potential decline of the dollar. However, tense conditions on the daily chart are currently preventing traders from entering new bullish positions ahead of the NFP report, which will be released today during the American session. From a technical perspective, the recent breakthrough above the $2,100 mark is considered a key trigger for the bulls.

Nevertheless, the Relative Strength Index (RSI) on the daily chart already indicates overbought conditions. Therefore, before preparing for the continuation of the established short-term upward trend, it would be prudent to wait for some short-term consolidation or a moderate pullback. Nevertheless, gold seems poised for further growth towards the psychological $2,200 mark. On the flip side, corrective declines can be viewed as an opportunity to buy, with a limited figure of around $2,100. This mark is a turning point that, in the case of a decisive breakthrough, could push the price of gold back to the $2,065 level. Some subsequent sales may imply that the XAU/USD pair might shift the balance in favor of bears.

Analysis are provided by InstaForex

Read More ifxpr.com/43b1Z9N

[Instaforex Bella]

Indicator Analysis of GBP/USD on March 11, 2024


Open trading account Open demo account Deposit money Money withdrawal Open trading account Open demo account Trend analysis (Fig. 1). The GBP/USD currency pair may move downward from the level of 1.2855 (closing of Friday's daily candlestick) to the 14.6% pullback level at 1.2837 (yellow dotted line). From there, an upward movement is possible to the upper fractal at 1.2892 (yellow dotted line). Fig. 1 (daily chart). Comprehensive analysis: Indicator analysis – down; Fibonacci levels – down; Volumes – down; Candlestick analysis – down; Trend analysis – up; Bollinger bands – up; Weekly chart – up. General conclusion: Today, the price may move downward from the level of 1.2855 (closing of Friday's daily candlestick) to the 14.6% pullback level at 1.2837 (yellow dotted line). From there, an upward movement is possible to the upper fractal at 1.2892 (yellow dotted line). Alternatively, from the level of 1.2855 (closing of Friday's daily candle), the price may move downward to the 23.6% pullback level at 1.2804 (yellow dotted line). From there, an upward movement is possible to the upper fractal at 1.2892 (yellow dotted line).

Analysis are provided by InstaForex


Read more: https://ifxpr.com/3PevvFY

[Instaforex Bella]

Analysis of transactions and tips for trading GBP/USD



The test of 1.2831 took place at a time when the MACD line moved downward from zero. This provoked a sell signal, which led to a price decrease of around 30 pips. The pair reached the target level of 1.2805.

Buying from this level for a rebound did not yield the expected results. Data on the UK's jobless claims, unemployment rate, and average earnings will come out today. The last indicator attracts the most attention, as a sharp decrease will weaken the position of pound, leading to a decline in the pair.

For long positions: Buy when pound hits 1.2829 (green line on the chart) and take profit at the price of 1.2857 (thicker green line on the chart). Growth will occur only after good and strong data on the UK labor market. When buying, ensure that the MACD line lies above zero or just starts to rise from it.

Pound can also be bought after two consecutive price tests of 1.2804, but the MACD line should be in the oversold area as only by that will the market reverse to 1.2829 and 1.2857. For short positions: Sell when pound reaches 1.2804 (red line on the chart) and take profit at the price of 1.2770. Pressure will return after an unsuccessful attempt to break through the local high. When selling, ensure that the MACD line lies below zero or drops down from it.

Pound can also be sold after two consecutive price tests of 1.2829, but the MACD line should be in the overbought area as only by that will the market reverse to 1.2804 and 1.2770. What's on the chart: Thin green line - entry price at which you can buy GBP/USD Thick green line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further growth above this level is unlikely. Thin red line - entry price at which you can sell GBP/USD Thick red line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further decline below this level is unlikely. MACD line- it is important to be guided by overbought and oversold areas when entering the market Important: Novice traders need to be very careful when making decisions about entering the market.

Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes. And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decisions based on the current market situation is an inherently losing strategy for an intraday trader.


Analysis are provided by InstaForex


Read more: https://ifxpr.com/3TdWXVx

[Instaforex Bella]

Indicator Analysis of GBP/USD on March 13, 2024



Today, the price may move upward from the level of 1.2789 (closing of yesterday's daily candle) to the 14.6% pullback level at 1.2837 (yellow dotted line). In the case of testing this level, a continued upward movement is possible to the historical resistance level at 1.2847 (blue dotted line). Alternatively, from the level of 1.2789 (closing of yesterday's daily candle), the price may move upward to the 14.6% pullback level at 1.2837 (yellow dotted line). In the case of testing this level, a downward movement is possible to the historical resistance level at 1.2772 (blue dotted line).

Analysis are provided byInstaForex.

Read more: https://ifxpr.com/3wRMzLL

[Instaforex Bella]

Forex Analysis & Reviews: GBP/USD. March 14th. The UK GDP provided positive results, but traders have taken a new break



On the hourly chart, the GBP/USD pair traded exclusively horizontally on Wednesday. It traded in the range of 1.2788–1.2801. There were no advantages for either bears or bulls on Wednesday, and neither category of traders attempted to take active action during the day. Thus, the zone of 1.2788–1.2801 cannot currently be considered a source of trading signals. The pair failed to rebound from it or consolidate above it.

The wave situation has been clear recently. The bulls have launched an active offensive, and we have already seen three consecutive upward waves. The last upward wave managed to break through the previous peak from February 22nd, so there are currently no signs of a trend change to "bearish." The sideways movement seems to be over since the pound has risen above all the peaks of the past few months. However, the risk of a resumption of sideways movement remains if bears launch their offensive from current levels. The last downward wave is too weak compared to the previous upward wave. The pair needs to decline at least to the level of 1.2584 to show the first sign of a trend change to "bearish." Alternatively, the new upward wave should not break the peak on March 8th. On Wednesday, the GDP volume for January was announced in the UK. The British economy grew by 0.2%, as traders expected. Industrial production decreased by 0.2% in volume, which was below market expectations. However, the first report did not help the pound resume its growth, and the second report did not provide sufficient grounds for bears to launch an offensive. There were no significant events in America yesterday. Today, we expect several reports from the US, but trader activity is currently extremely low, so I do not expect strong exchange rate fluctuations.

On the 4-hour chart, the pair consolidated above the corrective level of 61.8% (1.2745), which allows us to count on further growth towards the level of 1.3044. The pound has risen very strongly over the past few weeks, practically without informational support. The strength of the bulls may be waning. There are no emerging divergences observed in any of the indicators today. A rebound of quotes from the level of 1.2745 may increase the pair's chances of continuing to rise, but a consolidation below this level will work in favor of the US dollar and improve the chances of bears.


Analysis are provided byInstaForex.

Read more: https://ifxpr.com/4ae5lLy

[Instaforex Bella]

Forex Analysis & Reviews: EUR/USD. March 15th. The bears have launched a long-awaited offensive

The EUR/USD pair made a new reversal in favor of the American currency on Thursday and resumed its downward movement after closing below the ascending trend channel. Thus, the decline in quotes may continue down to the Fibonacci level of 38.2%–1.0866. A rebound of the pair's rate from this level will benefit the European currency and may lead to some growth towards the corrective level of 50.0%–1.0918. Consolidation of quotes below 1.0866 will increase the pair's chances of further decline towards the next corrective level of 23.6%–1.0801.

The wave situation remains quite clear. The last completed upward wave confidently broke the peak of the previous wave (from February 22). Thus, we currently have a "bullish" trend, and there are no signs of its completion. Currently, a new downward wave is beginning to form but to determine a shift in sentiment to "bearish," a breakthrough of zone 1.0785–1.0801 is required. Until this moment, we observe only a corrective wave, after which the "bullish" trend may resume. The waves are currently quite large, but daily trader activity is not at its highest level. I believe that the support zone of 1.0785–1.0801 is a good target for traders. The news background on Thursday was interesting. We learned that retail sales volumes in the US turned out to be slightly below market expectations, but at the same time, the Producer Price Index surged by 0.6% in February, which does not bode well for the US economy as inflation may continue to rise, as it did in February. However, such a value is positive for the American currency, as the Fed may now adhere to a hawkish policy longer than traders expect. At the same time, the ECB may start easing monetary policy as early as June.

Forecast for EUR/USD and trader recommendations: Sales of the pair were possible upon a rebound from the level of 1.0959 on the 4-hour chart, with targets at 1.0918 and 1.0866. The first target has been hit, and the second one may be hit today. New sales are possible upon closing below the level of 1.0866 with a target of 1.0801. Buying the pair is possible upon a rebound from the level of 1.0866 on the hourly chart with targets at 1.0918 and 1.0959. Or upon a rebound from the lower line of the channel on the 4-hour chart.


Analysis are provided byInstaForex.

Read more: https://ifxpr.com/4cjZR42

[Instaforex Bella]

Forex Analysis & Reviews: Indicator Analysis of EUR/USD on March 18, 2024



Today, the price may move upward from the level of 1.0887 (closing of Friday's daily candlestick) to 1.0917, the 50% pullback level (red dotted line). In the case of testing this level, a continued upward movement is possible with a target of 1.0939, the historical resistance level (blue dotted line). Alternatively, from the level of 1.0887 (closing of Friday's daily candlestick), the price may move downward to 1.0871, the 38.2% pullback level (blue dotted line). In the case of testing this level, an upward movement is possible to 1.0917, the 50% pullback level (red dotted line).


Analysis are provided byInstaForex.

Read more: https://ifxpr.com/3Pl7gWz