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  1. #1481
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    Forecast for GBP/USD on June 14, 2021

    GBP/USD

    In Friday's fall, the pound pierced the support of the MACD indicator line on the daily chart with a lower shadow, and today the market opening was below it. This is a sign of further price declines. The Marlin oscillator has reversed from its own zero line separating the growth zone from the decline zone and is now deepening below. The goal of further movement of 1.1004 is the low on May 13 and the high on March 12.



    On the four-hour chart, the price has completed a false exit above the MACD line for the fifth time in a row. Taking into account the situation on the daily scale, this was probably the last time, now the MACD line at 1.4142 looks even stronger.

    The Marlin oscillator is in its lower half, we are waiting for the development of a downward movement.



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

  2. #1482
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    Forecast for EUR/USD on June 15, 2021

    On Monday, as expected, the euro corrected slightly to the upside and spent the day in the range of expectations for today's US data on manufacturing inflation, retail sales and industrial production. Tomorrow, the Federal Reserve will make a decision on monetary policy and investors believe that today's good indicators (if they turn out to be such, and which the Fed members already know), will be able to influence the final summary in the direction of tightening. In terms of rhetoric, of course.





    The price is below the balance indicator line on the daily chart, but above the MACD line, which in its semantic meaning defines the price position as neutral with an impending attack on the support of the MACD line (1.2082). The bears' main target is the 1.2051 level, surpassing it would open the next target at 1.1934 - the lower border of the price channel of the weekly timeframe.





    On the H4 chart, the line of the Marlin oscillator begins to smoothly turn downward. Perhaps yesterday's peak at 1.2131 is the upper border of the current consolidation.

    We are waiting for the attack on the support of the MACD line of the daily timeframe in the area of the 1.2082 mark.


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

  3. #1483
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    Forecast for EUR/USD on June 16, 2021

    So the decisive day has come, determining the fate of the euro in the medium term. Today, the Federal Reserve meeting will take place, at which the beginning of a discussion on changing monetary policy can be announced. Yesterday's US report came out very well by the way: industrial production increased by 0.8% in May against the forecast of 0.6%, the producer price index (PPI) for the same period added 0.8% against expectations of 0.5%, the base PPI added 0.7%. Against this background, the trade balance of the euro zone in April showed a deterioration from 18.3 billion euros to 9.4 billion. And it is even surprising that yesterday the euro did not surpass the support of the MACD line on the daily chart (1.2084).



    Nevertheless, the price did not overcome the resistance of the red balance indicator line, which gives an indication of the downward trend's control over the situation. Today we expect to overcome the target level 1.2051. A little later, the price may reach the lower border of the price channel at 1.1942.



    There is no additional information on the four-hour timescale, unless the price also rose above the balance line and Marlin did not leave the downward trend zone.


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

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    Forecast for GBP/USD on June 17, 2021

    The British pound dropped 91 points on Wednesday, breaking the first target of the bears at 1.4004. Now the second target (1.3918) is open - the high on April 6. The 1.3800 level is the low on May 3.



    The price settled below the target level of 1.4004 on the four-hour time scale, the Marlin oscillator is discharging after a quick move into the oversold zone. Upon completion of the correction, we expect the price to further decline to the specified target level of 1.3918.




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

  5. #1485
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    Forex Analysis & Reviews: EURNZD approaching descending trendline resistance! Drop Incoming!

    Price is approaching 78.6% Fibonacci retracement and descending trendline resistance. A short term drop below our 1st resistance at 1.70255 towards 1st support at 1.69560 could be possible. Stochastic is testing resistance where price pulledback in the past.

    Trading Recommendation
    Entry: 1.70255
    Reason for Entry:
    78.6% Fibonacci retracement, descending trendline resistance
    Take Profit: 1.69560
    Reason for Take Profit:
    -27.2% Fibonacci retracement, Graphical overlap support
    Stop Loss: 1.70583
    Reason for Stop Loss:
    Graphical swing high resistance

    Analysis are provided by InstaForex

  6. #1486
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    Forex Analysis & Reviews: Technical Analysis of EUR/USD for June!

    Technical Market Outlook:
    The EUR/USD pair has been seen going lower again after the breakout to the downside from the consolidation zone. The next target for bears is the long term trend line support around the level of 1.1795 (marked as orange line on the daily time frame chart). Any violation below this line would trigger another wave down towards the key technical support seen at the level of 1.1704. The nearest technical resistance is located at the level of 1.1986.
    Weekly Pivot Points:
    WR3 - 1.2305
    WR2 - 1.2222
    WR1 - 1.2007
    Weekly Pivot - 1.1927
    WS1 - 1.1702
    WS2 - 1.1620
    WS3 - 1.1401

    Trading Recommendations:
    The distribution cycle had been completed and now the market is on the move down. The key long term technical support is seen at 1.1704. When this cycle is terminated, the up trend can be continued towards the next long-term target located at the level of 1.2350 (high from 06.01.2021).

    Analysis are provided by InstaForex

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    Forex Analysis & Reviews: Forecast for EUR/USD on June 22, 2021

    EUR/USD
    The euro gained 55 points from the target level it achieved on Monday and is currently showing a decline this morning. Perhaps,it might surpass the first price support on the way to the mid-term decline of 1.1855 by today or tomorrow and then the euro will continue to decline. The next target is 1.1705 - the March 31 low. The Marlin oscillator on the daily scale chart seems to have fallen deep enough that the rate of decline might slow down.

    On a four-hour chart, the Marlin oscillator shows an intention to turn around from its own zero line, which characterizes yesterday's growth as a moderate correction. Exit above Friday's high at 1.1926 will bring the oscillator into the zone of positive values. This pattern will allow the price to strengthen the corrective growth, possibly even to the MACD line to the level of 1.1990, where the H4 shows a micro consolidation from the 17th.

    The continuation of the decline is considered as the main option, as it has a 55% probability. The deepening of the correction to 1.1990 is accepted as an alternative, but it provides the opportunity to enter the market with short positions at the best price.

    Analysis are provided by InstaForex

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    Forecast for EUR/USD on June 23, 2021



    The euro ended with an increase of 22 points on Tuesday. This morning the price is going down, the Marlin oscillator on the daily scale is starting to turn down.

    Outwardly, the price looks in a neutral state and there are reasons for this - investors are waiting for the release of the PMI of the eurozone and the United States for the current month and sales of new homes in the United States in May. The data is expected to be mixed, so investors are in no hurry to take succeeding actions. Nevertheless, according to our system of indicator lines, the price should not (conditionally) return to the MACD line (1.2070) in the near future, the level of 1.1705 is still the target.




    The price is developing along the signal line of 1.1926 on the four-hour chart, but this line seems to be out of place here, in fact, the price is ignoring it. Like yesterday, the probability of the MACD line working out in the area of the 1.1984 level remains. The Marlin oscillator is in a neutral situation. Moving below the target level of 1.1855 opens the target at 1.1705.


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

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    Forex Analysis & Reviews: Forecast for AUD/USD on June 24, 2021

    AUD/USD
    The Australian dollar took on higher commitments yesterday and bravely stepped out of the embedded price channel line. The Marlin oscillator keeps the market interest in buying yesterday and today in a growing position.

    Our main scenario is a downward one, but if the price overcomes yesterday's high, it is possible that the growth will continue to the level of 0.7647 - to the low on June 3. A price return below the price channel line below 0.7552 will return the price to a downward mood. The closest target will be the level 0.7490.

    On the four-hour chart, the price met an obstacle to growth from the side of the MACD line. The Marlin oscillator is flat, but declining. We are waiting for the price to settle below the level of 0.7552 and a further decline to 0.7490.

    According to the alternative scenario, after consolidation above 0.7600, growth to 0.7647 is possible.

    Analysis are provided by InstaForex

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    Forex Analysis & Reviews: Elliott Wave Analysis of Natural Gas for June 28, 2021

    Natural Gas just complete a cup with handle bottom calling for a rally towards 5.26. We currently see support at the cup with handle neckline at 3.40 and key support that should be able to protect the downside is seen at 3.13.

    Longer term we will be looking for much higher levels, but expect resistance in the 4.92 - 5.26 zone should spark a period of consolidation before the next push higher towards 6.13 - 6.49 as the next target zone

    Trading recommendation:
    Buy Natural Gas or UNG to get exposure and place you stop at 3.10 for the rally to the 4.92 - 5.26 target-zone

    Analysis are provided by InstaForex

  11. #1491
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    Forex Analysis & Reviews: Forecast for AUD/USD on June 30, 2021

    AUD/USD
    The Australian dollar dropped 54 points on Tuesday and so it settled below the line of the descending price channel (0.7542). The Marlin oscillator is going down in the negative area, the price has 25 points left before moving below the nearest target level of 0.7490. After that, the target range 0.7400/10 had become active.

    The price settled below the MACD indicator line on the four-hour chart, below the level of the price channel at 0.7542, the Marlin oscillator is in the negative area with no signs of a reversal. We are waiting for the price to move down even further.

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  12. #1492
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    Forex Analysis & Reviews: Trading plan for EURUSD for June 30, 2021

    Technical outlook:
    EURUSD is still testing its support trend line since March 2020 lows around 1.1885/90 today. It needs to break into the sell zone to accelerate further lower towards 1.1700 going forward. A bullish bounce here might produce a pullback rally towards 1.2030 levels before reversing lower again. Overall structure continues to remain bearish until prices stay below 1.2266 levels.

    EURUSD is trading near the intraday low around 1.1885/88 at this point in writing and is expected to break lower towards 1.1730/40 soon. Immediate support is seen through 1.1700 while resistance is fixed at 1.2266 levels respectively. In case of a gartley being produced here, the counter trend rally could reach 1.2000 handle, which is fibonacci 0.618 retracement of the recent down swing.

    EURUSD potential remains to drop towards 1.1300 at least in the next few weeks time. It could further extend lower through 1.0636 mark and attempt a break below its March 2020 lows.

    Trade plan:
    Remain short for now, stop @ 1.2266, target is @ 1.1300.

    Good luck!

    Analysis are provided by InstaForex

  13. #1493
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    Forex Analysis & Reviews: Forecast for EUR/USD on July 2, 2021

    EUR/USD
    Yesterday, as expected, the euro spent the whole day at the target level of 1.1855 in anticipation of today's data on US employment. The data is expected to be good: the forecast for Non-Farm Employment Change (new jobs in the non-agricultural sector) for June is 700,000, the unemployment rate may drop to 5.7% from the latest data of 5.8%. Also, the volume of industrial orders for May is forecast to grow by 1.6%. We are waiting for the price to fall even further and reach the target level of 1.1705.

    The signal line of the Marlin oscillator on the H4 chart was flat yesterday. The short-term exit above the MACD line once again showed the falsity of such an intention and strengthened the downward trend. We are waiting for the development of events.

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    Forex Analysis & Reviews: Forecast for AUD/USD on July 5, 2021

    AUD/USD
    The Australian dollar appears to have overreacted to the weakness in the US dollar on the day the US employment data was released. AUD/USD gained 57 points. The embedded price channel line at 0.7540 is close to a retest.

    The general trend for the pair, of course, remains downward, but settling above 0.7540 can still fuel the correction. Under favorable circumstances, it is possible for the aussie to rise to the June 25 high at 0.7618.

    But external circumstances are not yet favorable. Last Friday, different brands of oil closed mixed, iron ore fell 0.6%, and this morning, Pacific stock indexes show mixed dynamics. In such a situation, we should wait until Tuesday, when US investors return to work, and track their further intentions.

    The price settled above the MACD indicator line on the four-hour chart, the Marlin oscillator, after its own consolidation, went up into the zone of positive values. Today, the aussie might move sideways.

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    Forex Analysis & Reviews: Forecast for EUR/USD on July 6, 2021

    EUR/USD
    The euro showed a symbolic decline by 2 points on Monday, as US players were absent on the market. Technically, this highlighted the weakness of convergence on the daily chart, which could easily be transformed into any other formation.

    On the other hand, the price has also formally settled above the target level of 1.1855, and if the price rises steadily today, the convergence may change its appearance into a more readable one. If the gain is not strong, then the Marlin oscillator may form a sideways range, as shown by the gray area on the chart.

    Marlin is already on the horizon, and on the zero line on the four-hour chart. The price settled above the MACD line, but below the balance line (red indicator).

    In general, the probability of price growth is 55%. With the price moving below the MACD line at H4 (1.1845), the probability of a further decline to the target level 1.1705 will increase to 65%. One can speak of a confident decline from the euro only after the price has surpassed the July 2 low of 1.1806.

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  16. #1496
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    Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for June 7, 2021

    EUR/JPY has seen a deep correction in red wave ii, but should stay above the low of red wave i at 130.04 for the next rally higher towards the long-term target at 135.41 where wave 3/ will be 161.8% the length of wave 1/.

    Short-term we would like to see a break above minor resistance at 131.66 as a confirmation that red wave ii has completed and red wave iii higher towards 135.41 is in motion.

    Under this count support at 130.04 can't be broken or a revision of our bullish count will be needed.

    Trading recommendation:
    Buy EUR and place you stop at 130.00 for a rally towards 135.41

    Analysis are provided by InstaForex

  17. #1497
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    Forex Analysis & Reviews: Forecast for EUR/USD on July 8, 2021

    EUR/USD
    Yesterday, the euro was declining during the day, in anticipation of the publication of the FOMC minutes and at the time it took place, the single currency practically already took into account the expected tonality in the price. There were no surprises, the Federal Reserve expects further improvement in the labor market and does not show any worries about inflation.

    As a result, the convergence of the price with the Marlin oscillator on the daily chart continues to form (in the event of a stronger fall in the price, Marlin would go down more clearly). Nevertheless, the main scenario remains the development of the 1.1705 target level, and the slowness of the oscillator indicates the potential for a larger decline in the euro - to the second target level of 1.1640.

    On a four-hour scale, the price reversed to the downside from the MACD indicator line. Here, too, there is still an opportunity to further the formation of convergence. But similar to the situation on the daily chart, the slowness of the oscillator towards a reversal preserves the potential for a deeper decline into the oversold zone.

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  18. #1498
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    Forex Analysis & Reviews: Trading plan for EURUSD for July 09, 2021

    Technical outlook:
    EURUSD still remains vulnerable for a drop to the 1.1700/20 levels before pulling back for a meaningful counter trend rally. Until prices break above 1.1975 interim high, bears remain in a position to drag lower towards 1.1700 in the short term. As discussed yesterday, long term traders might hold short positions while short term traders might want to take profits around 1.1700.

    EURUSD is seen to be trading around the 1.1832 level at this point in writing and is expected to turn lower towards yet another low below 1.1750 mark. Immediate resistance is seen around 1.1975 while support comes in around the 1.1700 level respectively. Also note that prices are breaking below its 15 month old trend line support, which is quite bearish.

    EURUSD medium term potential remains to the 1.1300 and 1.0636 level respectively. The fibonacci 0.618 retracement of past rally between 1.0636 and 1.2350 is also seen to be passing through 1.1300 levels hence probabilities for a bullish bounce remains high. At the moment, we shall watch out for a temporary pullback rally around the 1.1700 mark.

    Trading plan:
    Remain short, stop @ 1.2350, target @ 1.1300 and lower.

    Good luck!

    Analysis are provided by InstaForex

  19. #1499
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    Forex Analysis & Reviews: Forecast for USD/JPY on July 12, 2021

    USD/JPY
    Last Friday, the USD/JPY pair correctively rose after it reached the target level. This rise was preceded by a five-day decline. On the daily chart, the Marlin oscillator has slowed down and is ready to resume falling in case the price weakens.

    The dollar, of course, still has room for growth. The main resistance on the daily chart is the embedded price channel line and the MACD indicator line (110.70). A reversal into a new wave of decline may occur before these lines are reached.

    On the four-hour scale chart, the first resistance and the target of the correction is the nearest local extremum at 110.40. Above it is the MACD line, and in approximately the same area where it is located on the daily scale - 110.70. This circumstance also indicates the correction limit. Rising above the level, and settling above it, breaks the main scenario of a medium-term decline.

    Moving below the target level of 109.80 (high on May 13) will trigger a move towards the target level of 109.20 (low on June 8).

    Analysis are provided by InstaForex

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    Forex Analysis & Reviews: Forecast for USD/JPY on July 13, 2021

    USD/JPY
    The yen remains the most difficult currency in the last month, its fluctuations occur with a periodic change of drivers - it is the stock market, then the fluctuations of the US dollar. As a result, the yen has been trading in a wide range of 109.55-111.65 for a month and a half. Yesterday, the S&P 500 gained 0.35%, the dollar index rose 0.14%, which has already consistently pulled the USD/JPY pair up 23 points.

    Now the price faces the task of rising above the daily MACD line at 110.74, then the way to the target level 111.39 will open. This mark (110.74) also coincides with the central line of the growing lilac price channel, so the subsequent growth may be above the first target level.

    The price is struggling with the local target level of 110.40 on the H4 chart. Surpassing it will indicate an attack on the MACD line at 110.64. Consolidating above this indicator line will be a preparation for an attack on the daily MACD line (110.74). To restore the downward movement, the price needs to go below the level of 109.80, which is more difficult to do at the moment.

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