Thread: InstaForex Wave Analysis

Forex Analysis & Reviews: Forecast for EUR/USD on August 10, 2021

EUR/USD
Yesterday, the euro was down 25 points. There are 30 points left to the target level of 1.1705, but the euro is already showing signs of an upward reversal. On a daily scale, the Marlin Oscillator has penetrated into the downward trend zone; there is still a possibility of reaching the target level.



If we accept the version about yesterday's decline in counterdollar currencies due to a strong fall in gold, which fell 4.4% in the Asian session and closed the day by -1.89%, then its expected recovery today may prevent the euro from continuing to decline.

On a four-hour chart, the Marlin Oscillator is turning upward, forming a slight convergence with the price:



Now the euro is in the consolidated wandering zone - the lower border of this zone is defined by the target level of 1.1705, the upper border is formally the MACD line, but it is quite high, therefore, most likely, the euro's exit from such uncertainty will largely depend on the time factor, that is the market needs to wait about a day for the MACD line to go down. Consolidating above it will return the euro to growth. Settling below 1.1705 opens the target at 1.1640.

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for EUR/USD on August 11, 2021

EUR/USD
Yesterday, the euro continued its inertial decline and almost reached the target level of 1.1705. Consolidating below the level may extend the decline to the second target at 1.1640, but the price has little chance of that, as the reversal signals are getting stronger. The Marlin Oscillator is planning an upward reversal on the daily scale in order to leave the downward trend.



The convergence of the price and the oscillator is forming on the four-hour chart:



But it won't be soon before the fixed reversal signal - the price has moved away from the MACD line and the reverse transition above it will take place no earlier than two days. At the moment it is 1.1775. Until this moment, the price can swing freely in the shaded area.

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for GBP/USD on August 12, 2021

GBP/USD
Yesterday, the British pound made its first attempt to overcome the resistance of the MACD line on the daily chart. The trading range was wide, more than 80 points, so the price was limited only to testing this line.



Today the pound started the Asian session with growth, so there is a good chance that today the MACD line (1.3887) will be overcome. The signal line of the Marlin Oscillator turns up from the lower border of the channel. We anticipate the pound's rise to 1.4069.



The price is consolidating in front of the balance indicator line on the four-hour chart, Marlin has settled in a growing trend. We are waiting for another upward price surge.

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for AUD/USD on August 13, 2021

AUD/USD
The Australian dollar was down 39 points yesterday, and this movement was enough for the signal line of the Marlin Oscillator to work out the neutral zero line on the daily scale.



Now an upward reversal is planned from this border (arrow). But the aussie has not enough strength to grow, in general the price is decreasing along the line of the price channel, and if the price moves below the August 10 low (0.7317), it may drop to the target level of 0.7244. Growth may develop to target levels 0.7520 and 0.7590 only when the price rises above the MACD line, above 0.7405.



The situation for the pair is even weaker on the four-hour chart. The price is below the balance and MACD indicator lines, the Marlin oscillator returned to negative territory yesterday. At the moment, the price is at an equal distance from the bearish signal level of 0.7317 and from the MACD line (0.7360), the transition above which will be a signal to attack the MACD line of the higher timeframe at 0.7405. We can only wait for the development of the situation.

Analysis are provided byInstaForex.

Technical Analysis of ETH/USD for August 16, 2021





Crypto Industry News:


Christopher Perkins will become the new President and Managing Partner of CoinFund.


The information is important because it shows how strongly the blockchain industry and the cryptocurrency market have developed. Until a few years ago, it was hard to imagine a situation where a high-ranking employee in the financial sector (Perkins was one of Citigroup's CEOs) would quit everything to work in the cryptocurrency industry. Hiring a new CoinFund president is expected to positively affect the company's reputation.


CoinFund CEO on hiring Christopher Perkins


According to CoinFund founder and CEO Jake Brukhman, this is not only a milestone for the company, but an announcement of a trend in which Wall Street will start to pay attention to the possibilities of blockchain technology:


"Chris joining CoinFund is not only a major milestone for our firm, but is also indicative of a broader trend as Wall Street turns its attention to the opportunities within the blockchain-technology space".


Technical Market Outlook:


The ETh/USD pair has been seen rallying during the weekend. The bounce from the level of $3,122 was strong and bulls tested the recent high seen at the level of $3,330. Nevertheless, the bulls were not strong enough to close the daily candle above the level of $3,330, so it might be a time for another pull-back during the up trend. The immediate techncial support is seen at the level of $3,185 and $3,122.


Weekly Pivot Points:


WR3 - $3,888


WR2 - $3,615


WR1 - $3,448


Weekly Pivot - $3,162


WS1 - $3,024


WS2 - $2,746


WS3 - $2,578


Trading Outlook:


Ethereum have started the next wave up and violated the long-term target at the level of $3,000. The next long-term target for ETH is seen at the level of $4,394. Nevertheless, in order to continue the long-term up trend, the price can not break below the technical support at the level of $2,695. The level of $1,728 (61% Fibonacci retracement of the last big impulsive wave up) is still the key long-term technical support for bulls.


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

Technical Analysis of ETH/USD for August 16, 2021





Crypto Industry News:


Christopher Perkins will become the new President and Managing Partner of CoinFund.


The information is important because it shows how strongly the blockchain industry and the cryptocurrency market have developed. Until a few years ago, it was hard to imagine a situation where a high-ranking employee in the financial sector (Perkins was one of Citigroup's CEOs) would quit everything to work in the cryptocurrency industry. Hiring a new CoinFund president is expected to positively affect the company's reputation.


CoinFund CEO on hiring Christopher Perkins


According to CoinFund founder and CEO Jake Brukhman, this is not only a milestone for the company, but an announcement of a trend in which Wall Street will start to pay attention to the possibilities of blockchain technology:


"Chris joining CoinFund is not only a major milestone for our firm, but is also indicative of a broader trend as Wall Street turns its attention to the opportunities within the blockchain-technology space".


Technical Market Outlook:


The ETh/USD pair has been seen rallying during the weekend. The bounce from the level of $3,122 was strong and bulls tested the recent high seen at the level of $3,330. Nevertheless, the bulls were not strong enough to close the daily candle above the level of $3,330, so it might be a time for another pull-back during the up trend. The immediate techncial support is seen at the level of $3,185 and $3,122.


Weekly Pivot Points:


WR3 - $3,888


WR2 - $3,615


WR1 - $3,448


Weekly Pivot - $3,162


WS1 - $3,024


WS2 - $2,746


WS3 - $2,578


Trading Outlook:


Ethereum have started the next wave up and violated the long-term target at the level of $3,000. The next long-term target for ETH is seen at the level of $4,394. Nevertheless, in order to continue the long-term up trend, the price can not break below the technical support at the level of $2,695. The level of $1,728 (61% Fibonacci retracement of the last big impulsive wave up) is still the key long-term technical support for bulls.


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

Technical Analysis of ETH/USD for August 16, 2021





Crypto Industry News:


Christopher Perkins will become the new President and Managing Partner of CoinFund.


The information is important because it shows how strongly the blockchain industry and the cryptocurrency market have developed. Until a few years ago, it was hard to imagine a situation where a high-ranking employee in the financial sector (Perkins was one of Citigroup's CEOs) would quit everything to work in the cryptocurrency industry. Hiring a new CoinFund president is expected to positively affect the company's reputation.


CoinFund CEO on hiring Christopher Perkins


According to CoinFund founder and CEO Jake Brukhman, this is not only a milestone for the company, but an announcement of a trend in which Wall Street will start to pay attention to the possibilities of blockchain technology:


"Chris joining CoinFund is not only a major milestone for our firm, but is also indicative of a broader trend as Wall Street turns its attention to the opportunities within the blockchain-technology space".


Technical Market Outlook:


The ETh/USD pair has been seen rallying during the weekend. The bounce from the level of $3,122 was strong and bulls tested the recent high seen at the level of $3,330. Nevertheless, the bulls were not strong enough to close the daily candle above the level of $3,330, so it might be a time for another pull-back during the up trend. The immediate techncial support is seen at the level of $3,185 and $3,122.


Weekly Pivot Points:


WR3 - $3,888


WR2 - $3,615


WR1 - $3,448


Weekly Pivot - $3,162


WS1 - $3,024


WS2 - $2,746


WS3 - $2,578


Trading Outlook:


Ethereum have started the next wave up and violated the long-term target at the level of $3,000. The next long-term target for ETH is seen at the level of $4,394. Nevertheless, in order to continue the long-term up trend, the price can not break below the technical support at the level of $2,695. The level of $1,728 (61% Fibonacci retracement of the last big impulsive wave up) is still the key long-term technical support for bulls.


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

Forex Analysis & Reviews: Forecast for AUD/USD on August 17, 2021

AUD/USD
Yesterday, the Australian dollar reached the support of the embedded price channel line (0.7320) with a lower shadow on the daily timeframe. This trend line was broken this morning. The signal line of the Marlin Oscillator crossed the border with the area of the downward trend and now a bearish target of 0.7244 opens - the high of October 9, 2020.



There is a downward trend on the four-hour timescale: the price is decreasing under the balance and MACD indicator lines, the Marlin oscillator deepens in the negative zone. We are waiting for the price in the area of the specified target of 0.7244.



Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for GBP/USD on August 18, 2021

GBP/USD
The pound lost 100 points yesterday, shifting the market balance towards medium and short-term sales, as the price went under the balance indicator line on the daily chart. The signal line of the Marlin Oscillator has penetrated the zone of negative values, now the 1.3646/70 target is open.



The situation is similar on the four-hour scale chart: the price is below the indicator lines, Marlin is in the negative zone. We are waiting for the correction to be completed and further downward movement of the price.



Analysis are provided byInstaForex.

Forex Analysis & Reviews: Fall of the euro. What targets should be expected?

The fall of the current week indicates that the downward momentum has received a new round of development. Today, the monthly low is being updated and there are no restrictions on weakening yet. Now, the pair has reached the zone of the weekly average move, so it is necessary to fix part of the sales, as the probability of the formation of a corrective upward movement increases. The probability of continuing the fall next week is still above 80%.



A good target for medium-term fixations will be the level of 1.1591. So far, it looks optimistic. However, the number of applications for the purchase of the European currency is still quite large, which suggests a continuation of the decline within the average weekly moves, which amount to 140pp. In the next couple of days, it is better to concentrate on finding favorable selling prices for the instrument. We can consider the zone that was the August low last week.



Selling price - 1.1700
Stop loss - 1.1730
Take profit - 1.1591
Risk/profit ratio - 1 to 3

Analysis are provided byInstaForex.