Instaforex Analysis

**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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**InstaForex Gertrude** · 10-11-22, 06:22

Forex Analysis & Reviews: Forecast for EUR/USD on November 10, 2022

The elections to the American Congress turned out to be far from being as tragic for the Democrats as the US and other world media predicted. Seats in the Senate were distributed equally 48/48. There will be re-elections in several states in December to determine the winners. The seats in the lower house this morning were distributed as follows: 182 for the Democrats, 205 for the Republicans. As a result, conflicts are already brewing in the Republican camp, a number of functionaries are demanding that Trump be removed from influence on the party, and several Republican governors have already spoken out on their nominations for the presidency (DeSantis, Hogan).

Well, the markets continued their fall: S&P 500 -2.08%, euro -0.58%, oil (CL) -3.42%. A divergence has formed with the Marlin Oscillator on the daily chart. The price returned under the level of 1.0051, where it is most likely to close the day. Thus, the nearest target for the euro is the level of 0.9950. Further, we are waiting for the advance to 0.9864. The price is still in an upward position on the four-hour chart, as the development takes place above the indicator lines and Marlin is in the growth zone. A bit above the support of 0.9950 is the MACD line, which will make it difficult and slow down the price to work out this support.

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**InstaForex Gertrude** · 11-11-22, 10:31

Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on November 11, 2022

Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 1.0208 (close of yesterday's daily candle) to 1.0246, the 85.4% retracement level (yellow dotted line). When testing this level, a downward pullback is possible.

Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis - up;
Fibonacci levels - up;
volumes - up;
candlestick analysis - up;
trend analysis - up;
Bollinger bands - up;
weekly chart - up.

General conclusion: Today, the price may move upward from the level of 1.0208 (close of yesterday's daily candle) to 1.0246, the 85.4% retracement level (yellow dotted line). When testing this level, a downward pullback is possible.

Alternatively, the price may move upward from the level of 1.0208 (close of yesterday's daily candle) to the upper limit of the Bollinger band indicator at 1.0308 (black dotted line). Upon reaching this level, a downward movement is possible with the target of 1.0162, the 14.6% retracement level (blue dotted 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** · 14-11-22, 06:54

Forex Analysis & Reviews: Elliott wave analysis of Gold for November 14, 2022

Gold has finally broken nicely above resistance at 1,735 confirming that wave C of 4 has been completed and wave 5 towards at least 2,400 is in progress. We will be looking for a rally towards resistance in the 1,799 - 1,809 area from where we could see a temporary correction back to retest the former resistance which now acts as support at 1,735 before the next strong rally higher to 1,912 and 2,070 as the next major hurdles on the way higher to 2,400 and possibly 2,700.

*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** · 15-11-22, 07:19

Forex Analysis & Reviews: AUDUSD Potential for Bearish Drop | 15th November 2022

With the price moving above the ichimoku cloud on the H4, we have a bullish bias that the price will rise to the first resistance at 0.67711, which is in line with the 161.8% fibonacci line. If the first resistance is broken, the second should be at 0.69161, the previous swing high. Alternatively, the price could fall to the first support level at 0.65398, which is marked by the 38.2% Fibonacci line.

Trading Recommendation
Entry: 0.67711
Reason for Entry: 1st resistance line
Take Profit: 0.65398
Reason for Take Profit:
1st support line
Stop Loss: 0.69161
Reason for Stop Loss:
Previous swing high and 1st resistance 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** · 16-11-22, 10:45

Forex Analysis & Reviews: Technical Analysis of GBP/USD for November 16, 2022

Technical Market Outlook: The GBP/USD pair has been seen moving higher towards the next target for bulls which is located at 161% Fibonacci extension level at 1.2073. So far the local high was made at the level of 1.2026 and then a 2% pull-back followed. The intraday technical support is seen at 1.1760, 1.1734 and 1.1722. The strong and positive momentum on the H4 time frame chart supports the bullish outlook for GBP despite the extremely overbought market conditions, however please stay focused and viligant as the pull-back lower might come any time now as the market looks overstretched o n H4 time frame chart.

Weekly Pivot Points:
WR3 - 1.19243
WR2 - 1.18500
WR1 - 1.18089
Weekly Pivot - 1.17757
WS1 - 1.17346
WS2 - 1.17014
WS3 - 1.16271

Trading Outlook:
The Bearish Engulfing candlestick pattern that was made on the weekly time frame chart has been invalidated and the strong green weekly candle was made. The bulls are temporary in control of the market and the 38% Fibonacci retracement of the last wave down located at 1.1830 had been tested as well. On the other hand, the level of 1.0351 has not been tested since 1985, so the down trend is strong. 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 incr

*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** · 17-11-22, 07:07

Forex Analysis & Reviews: Technical Analysis of Nasdaq 100 Index Intraday Price Movement, Thursday November 17, 2022

On 4 hour chart Nasdaq 100 Index seems visible if #NDX still moving within its Bullish Pitchfork channel even so because of its failure to touch the top line of the Bullish Pitchfork channel it can be considered as Hagopian Rules which confirms that in the near future #NDX will depreciated in the near future where it is also confirmed by the emergence of the Ascending Broadening Wedge pattern so that in the near future #NDX will try to test and broke below the level 11670,5 if this level is successfully broken then #NDX has the potential to fall to 11121.8 as the main target and 10789.1 as the next target to be tested with a note that on its way to the target level it does not return to its initial bias (Bull) until it exceeds above 12082. because if this level is successfully broken, it is very likely that the downside scenario described above will become invalid.

*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** · 18-11-22, 07:10

Forex Analysis & Reviews: Forecast for EUR/USD on November 18, 2022

Despite the euro's strong desire to go down yesterday, it was not possible to overcome the support of 1.0360, the day closed higher. This morning the price is at the level, waiting for external incentives for further action. Yesterday, such incentives were the fall of oil by 3.76% and the decline of gold by 0.79%.

The daily Marlin Oscillator is declining smoothly, while there are no signs that the price may abandon attempts to break through 1.0360. If this happens, the 1.0205 target will become available.

On the four-hour chart, the price is supported by the indicator balance line (red moving line), but, nevertheless, the Marlin Oscillator has been in the negative area for a long time, so the price is unlikely to stop trying to overcome the supports. On the way to 1.0205, there is a MACD line (1.0260). It is also an important support to overcome. If the attempt is still unsuccessful, then the price may return to 1.0470 or even overcome the high on November 15 to form a divergence.

*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** · 21-11-22, 07:05

Forex Analysis & Reviews: Technical Analysis of Intraday Price Movements of the EUR/GBP Cross Currency Pair November 21, 2022

On the 4 hour chart EUR/GBP cross Currency pair seems to appear.

1. Deviations between price movements with the CCI indicator.
2. Ascending Broadening Wedge.
3. Bearish Wolve Waves

Based on the three information above it can be confirmed that in the near future EUR/GBP will try to get down below the level 0,8689 where if this level successfully penetrated will potentially bring EUR/GBP down to ETA Line from Wolve Waves and/or to the level 0,8589 as a target that will aim for with a note that if on his way to these levels there is no upward correction movement that penetrates above the 0.8775 level because if this level is successfully broken above, it is very likely that the scenario described previously will potentially become invalid.

*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** · 22-11-22, 07:21

Forex Analysis & Reviews: Technical Analysis of Intraday Price Movements of the EUR/GBP Cross Currency Pair November 21, 2022

Yesterday, China reported a sharp rise in Covid cases in Beijing, and the return of social restrictions and isolation in several areas in the country. Oil rebounds and stock indices started to decline on risks regarding the collapse of new (after FTX) cryptocurrency platforms (Genesis). Against this backdrop, the euro fell in price by 0.80%.

This morning, the euro is approaching support at 1.0205. The price may correct just a bit, as the Marlin oscillator has a margin to the zero line on the daily chart - up to the limit of the declining territory, and may try to turn up without leaving this area. The bears' success, however, would open the 1.0100/20 target range. The price has settled under the MACD indicator line on the four-hour chart. The Marlin oscillator is in negative territory, in the area where the direction is downward.

These circumstances increase the probability of the attempt to overcome 1.0205. The immediate objective is to settle under 1.0205. Support is technically strong, preliminary price consolidation is likely.

*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** · 23-11-22, 06:43

Forex Analysis & Reviews: Technical Analysis of Intraday Price Movements of Commodity Currency Pairs, NZD/USD Wednesday, November 23, 2022

On the 4 hour chart kiwi shows that hidden deviations appear between price movements and the CCI indicator which confirms if in the near future NZD/USD will have the potential to rally upwards to the nearest liquidity gathering place, namely in the Equal High area, namely at the level of 0.6201 but if the CCI level drops below the level 0 and/or level 0.6962 is exceeded, it is very likely for the scenario described earlier cancel by itself.

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

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