Category Archives: Market Anakysis

Forex market analyized

Gold will face important challenges next week.

Gold price remains in a bullish short-term trend as price continues to respect Kumo (cloud) support. Price is above the Ichimoku cloud and a big test is waiting for bulls this Monday. A major downward sloping trend line resistance will be the first obstacle next week.Black line – resistance trend lineGold price is at a major resistance. Price is testing the trend line and the recent highs near $1,630. Support is at $1,610-$1,605 and next at $1,596. A 4 hour close below these levels will be a bearish sign for Gold. If this happens I expect Gold to pull back towards $1,553 which is the lower cloud boundary. Another indicator that confirms we are at important resistance is the Chikou span (light blue line indicator). The Chikou span is hitting the candlestick pattern from below. The Chikou span confirms we are now at important resistance area. Bulls need to break above it in order to hope for a move to $1,650 or higher.The material has been provided by InstaForex Company – www.instaforex.com…

The Dollar index trapped inside Fibonacci price range.

The Dollar index had a strong week as price bounced off key Fibonacci support at 98.20 all the way to 100.85 where the rise stopped at another important Fibonacci resistance area. Longer-term trend remains bullish and as long as price is above 94.60 bulls remain in control.Orange rectangle – supportRed rectangle – resistanceThe Dollar index has stopped its rise just above the 50% Fibonacci retracement of the recent decline from 103 to 98.29. Breaking above the red rectangle resistance would be an important bullish sign that will increase the chances of seeing a move above 103. Despite the bearish divergence in the RSI in the Daily chart, as long as price is above 98.20 the chances of making a higher high above 103 remain high. If price breaks below the orange rectangle the chances of approaching the 95-94 level will increase dramatically. If at the start of next week we see a rejection of price around the red rectangle then we should expect a pull back towards the orange support area. The material has been provided by InstaForex Company – www.instaforex.com…

Comprehensive analysis of movement options of AUD/USD, USD/CAD, and NZD/USD (daily) in April 2020. The analysis of the APLs

Minor operational scale (daily time frame)
In the second month of spring – what will happen with the “raw” currencies AUD/USD, USD/CAD, and NZD/USD? Overview of the development of the traffic movement from April 4, 2020.____________________
Australian Dollar vs US Dollar
Testing and direction of the range breakdown:
resistance level of 0.6100 – median line minute;support level of 0.6000 – the upper border of the channel 1/2 median line fork operational scale minuteIt will determine the development of the movement of the Australian dollar AUD/USD from April 4, 2020.
Sequential breakdown of support levels:
0.6000 – upper limit of the channel 1/2ML minute;0.5965 – lower bound of ISL61.8 equilibrium zone of the forks of the operational scale minor;0.5930 – lower bound of ISL61. 8 equilibrium zone of the forks of the operational scale minute;Confirm the development of the movement of the Australian dollar in the channel 1/2 median line minute (0.6000 – 0.5860 – 0.5730) with the prospect of reaching the minimum price of 0.5510.
When sharing the breakdown of the median lines (resistance of 0.6100) and median line minor (0.6130) – option of the movement AUD/USD to the upper limit of ISL61.8 (0.6240) zone equilibrium fork operational scale minute and channel borders 1/2 median line (0.6275 -…

April 3, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

Since January 13, progressive bearish pressure has been built above the price level of 1.2780-1.2800 until March the 2nd when transient bearish consolidation below 1.2780 took place within the depicted wide-ranged slightly bearish channel.Shortly after, significant bullish rejection was demonstrated around 1.2780 on March 4. Hence, a quick bullish movement was expressed towards the price zone of 1.3165-1.3200 where significant bearish pressure brought the pair back below 1.2780, 1.2500 then 1.2260 via quick bearish engulfing H4 candlesticks.Recently, the GBPUSD has reached new LOW price levels around 1.1450, slightly below the historical low (1.1650) achieved in September 2016.Recently, the GBP/USD pair looked very OVERSOLD around the price levels of 1.1450 where a double-bottom reversal pattern was recently demonstrated.Technical outlook will probably remain bullish if bullish persistence is maintained above 1.1890-1.1900 (Double-Bottom Neckline) on the H4 Charts.Bullish breakout above 1.1900 (Latest Descending High) invalidated the bearish scenario temporarily & enabled a quick bullish movement to occur towards 1.2260.Next bullish targets around 1.2520 and 1.2680 were expected to be addressed if sufficient bullish momentum was maintained.However, early bearish pressure signs have originated around 1.2470 leading to another bearish decline towards 1.2265.That’s why, H4 Candlestick re-closure below 1.2265 is needed to hinder further bullish advancement…

EUR/USD evening review for April 03, 2020. Market stuck in the range, to wait for the US state on Monday

Them US employment report for March was released which showed less than 700 thousand jobs and an increase in the unemployment rate from 3.8% to 4.5%.In the past years, Eureka would either soar up or drop-down, but now it stands still.The data from March serves as a recollection of the Tatar invasion. Over the past two weeks, the number of new unemployment benefits in the United States amounted to almost 10 million.The US administration pays huge sums of money to businesses and households in the midst of the pandemic, after all, there are almost 250,000 infected in the United States.In Moscow, Russia the number of infected cases is still at 3,500 which is so far an exponential increase, and the quarantine is still to last until April 30th. Amid this quarantine, the Russian authorities do not propose to pay people who find themselves in FORCED non-working condition.This was directly stated by Sobyanin, the mayor of Moscow, saying that, “The budget will not stand. We believe that the business has enough money to pay a month of vacation to employees.”Germany, on the other hand, paid their forced “vacationers” employees at about 3 Salaries. That is without any inquiries, just on request and…

GBP/USD: plan for the US session on April 3. Bears are counting on a major flight of the pound down. The support of 1.2315

To open long positions on GBPUSD, you need:Bears managed to gain a foothold below the support of 1.2315 in the first half of the day after very poor data on activity in the UK services sector. This is clearly visible on the 5-minute chart. However, the continuation of the downward trend in the pound will depend on data on the state of the US labor market. In the second half of the day, the bulls urgently need to return a pair back to the level of 1.2315, since only in this scenario will it be possible to maintain the advantage. If the decline continues in GBP / USD, it is best to return to long positions only after the support test of 1.2150 or to rebound from the larger minimum of 1.1985, in the expectation of correction of 60-70 within the day. A breakout and consolidation above 1.2315 will push purchases to the maximum area of 1.2473, where I recommend fixing the profits.To open short positions on GBPUSD, you need:The bears coped with the weekly task and broke below the support of 1.2315 from the 5th time. Sellers of the pound in the second half of the day need to achieve…

EUR/USD: plan for the US session on April 3. Bears continue to control the market and follow the set course to the lows of

To open long positions on EURUSD, you need:
Another sale of the European currency after the publication of business activity indices for the services sector of the eurozone led the pair to the support of 1.0790. I paid attention to this in the morning forecast. The 5-minute chart clearly shows how the bulls try to form a false breakout, successfully making several bounces from this level, but each time they meet with larger sales. At the moment, the further movement of the euro down depends on the analysis of data on the labor market. It is unlikely that the bulls should expect the support of 1.0790, so it is best to return to long positions after updating the minimum of 1.0718, provided that a false breakout is formed there, or immediately to rebound from the annual support of 1.0626. In the scenario of the pair’s growth in the second half of the day after the data on the state of the US economy, the bulls will try to regain the resistance of 1.0880, which will push EUR/USD even higher, to the maximum of 1.0955, where I recommend fixing the profits.

To open short positions on EURUSD, you need:
Sellers continue to follow a clearly…

Trading plan for EUR/USD for April 03, 2020

Technical outlook:EUR/USD has dropped to 1.0782 lows today, and is seen to be trading around 1.0792 levels at this point in writing. Please note that the NFP figures are expected to be out in another 10 minutes and that might possibly trigger the rally that we have been waiting for in the EUR/USD pair. Technically, the single currency pair has dropped into the vicinity of fibonacci 0.618 support of the previous rally between 1.0636 and 1.1150 respectively. A bullish bounce remains high probability as long as prices stay above the 1.0636 support. Immediate resistance is seen around 1.0865, followed by 1.0975 respectively; and a push above those will be extremely encouraging for the bulls to continue further. Overall structure still remains bullish against 1.0636 levels and if this holds, EUR/USD should be staging a rally towards 1.1500 and 1.1900 levels in the next few weeks time. Trading point of view, it is good to remain long with risk at 1.0636 levels.Trading plan:Remain long, stop @ 1.0636 target above @1.1500Good luck!The material has been provided by InstaForex Company – www.instaforex.com…

Will the dollar stop plan B?

All attempts by the Fed to rein in the US dollar were futile. Neither a sharp reduction in the federal funds rate, nor the launch of unlimited purchases of Treasury and mortgage bonds under QE, nor the transfer of liquidity to foreign central banks using swaps and repos has dampened investors’ interest in buying the USD index. If this continues, I am afraid that currency interventions will be necessary. According to BofA Merrill Lynch, this will happen when the EUR/USD pair falls to 1.05.
In theory, this scale of dollar liquidity and the rapid expansion of the Fed’s balance sheet should have knocked the “American” down. Nevertheless, the number of supporters of the “dollar smile” theory is growing rapidly. It assumes that at the first stage, the USD index is strengthened due to the strength of the US economy and the associated inflow of capital to the US securities market. When a recession begins, the dollar peaks as investors flee to safe-haven assets. Then, thanks to those who want to save stock indices from falling into the abyss with the help of aggressive monetary expansion, the Fed forms the bottom of the smile. After that, the dollar begins to grow again, as…

BTC analysis for 04.03.2020 – Major pivot resistance at the price of $7.000 is on the test, potential for downside rotation

BTC news:With growing mobile money across the globe, Revolut has joined the list of growing bank challengers in the UK. The platform is offering an alternative to the central government-controlled fiat currency. With a fixed supply, Bitcoin is seen as the alternative to the fiat especially at a time when governments are printing more money through the quantitative easing program.Technical analysis: BTC has been trading upwards.The price tested and rejected of the very important pivot level at $7.000, which is sign that there is potential for downside rotation. The action around the critical level at $7.000 will be important fore the further direction.Yesterday’s daily close was well off the high, which is another sign that there is potential for the downside.MACD oscillator is still showing reading below the zero but the slow line is going upwards.Major resistance is set at $7.000 and the next one is at $7.630.My recommendation is to watch for selling opportunities around the critical pivot at $7.000.Potential targets can be set at $6.131, $5.180 and even $3.877The material has been provided by InstaForex Company – www.instaforex.com…