Thread: InstaForex Wave Analysis

Forex Analysis & Reviews: Forecast for EUR/USD on September 20, 2022

The euro rose slightly on Monday, supporting the strong resistance of the target level of 1.0032 and the MACD indicator line coinciding with it. This morning the resistance was pierced, but it is unlikely that speculators will decide to develop the movement before tomorrow's Federal Reserve meeting.



But the Fed meeting should be "soft" so that the counter-dollar market shifts to growth, and we do not expect a soft meeting, since the rate will be raised by 0.75%, according to the FOMC members themselves, and the committee's forecasts on inflation and future rates in light of the current situation is unlikely to be weak.

We are waiting for the price to reverse from the achieved resistance to the nearest support at 0.9950. Next, we are waiting for the price to decline to the support of 0.9850. The Marlin Oscillator has penetrated into the growth zone, but this movement seems to be false so far.



The price is trying to consolidate above 1.0032 on the four-hour chart, the Marlin Oscillator is in the positive area. Formally, the technical situation favors the euro's further growth, but before the Fed meeting, we will refrain from both buying and premature selling. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided by InstaForex.

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Existing analytical skills must be able to be considered properly, this is done so that traders can become more leverage in getting maximum trading security and comfort like what I got from Tickmill.

Forex Analysis & Reviews: Forecast for USD/JPY on September 21, 2022

On Tuesday, the USD/JPY pair added 54 points amid an overall strengthening of the dollar by 0.53%. The US stock market lost more than 1% of capitalization yesterday (S&P 500 -1.13%, Russell 2000 -1.36%), but investors are still guided by the situation with the dollar. We believe that after the hype subsides after the Federal Reserve's rate hike, the yen may strengthen under the pressure of stock indices.



While we are waiting for the price to rise to the nearest target of 145.10 - to the embedded line of the global price channel, if it is overcome, the growth will continue to the next line at 147.10. A price divergence with the Marlin Oscillator is possible in the area of the second target. This will be a sign of a trend reversal. The price is consolidating under the MACD line (143.83) on the four-hour chart. Consolidating above it, as an initial success, will push the price to storm 145.10. The Marlin Oscillator is moving sideways in the positive area. We are waiting for the Fed's decision and the dollar's growth against the yen



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

Analysis are provided by InstaForex.

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Existing analytical skills must be able to be considered properly, this is done so that traders can be more leverage in getting maximum trading security and comfort like what I got from Tickmill.

Forex Analysis & Reviews: Forecast for EUR/USD on September 22, 2022

After the euro's decline by 134 points yesterday, the price continues to decline under the target level of 0.9850 in today's Asian session. The inertial decline may continue to the level of 0.9752, from which we expect a reversal into a correction.



Correction from 0.9752 on the technical side may be due to the emerging extended convergence with the Marlin Oscillator. It also appears on the weekly chart. If the price still manages to consolidate under 0.9752, then the euro is waiting for the underlying levels of 0.9692 and 0.9625.

In the long term, we look at the euro's fall to the levels of the winter 2002 area, to the 0.8600 area, which would correspond to a Fibonacci reaction level of 200.0% on the monthly scale chart.



The price has consolidated below 0.9850 on the 4-hour chart, Marlin is in the negative area, but is already making the first attempts to slow down this decline. We are waiting for the price at the target level of 0.9752.

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

Analysis are provided by InstaForex.

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Forex Analysis & Reviews: Forecast for EUR/USD on September 23, 2022

Yesterday, the euro closed the day at the opening level. The closure occurred under the resistance of 0.9850 and formally this means consolidating under the level. But since there is practically no body of the candle, the consolidation itself is formless, weak. At the same time, convergence is also formed with the Marlin Oscillator.



A slight increase in the price is visible this morning, with the intention to go above 0.9850. Consolidating above the level opens the way to 0.9950. It is possible to continue growth to the 1.0032 level. All this growth will occur in the general direction of the downward trend. Upon completion of the correction, a new wave of medium-term decline will begin to develop. In this case, the key level of 0.9752 that we noted will be overcome with more energy, the price will try to settle at 0.9692 and go below (0.9625).



The strong growth of the Marlin Oscillator indicates the beginning of the correction on the four-hour chart. Consolidating above 0.9850, and with it the transition of Marlin to a positive area will create a technical basis for further growth to the target level of 0.9950. A little below the 1.0032 level is the MACD line. If the price rises, this line will turn up, press against the linear level, strengthen it and create tension by the end of the correction. It will also turn out that in the area of 1.0032, the MACD lines of both scales will coincide, which will also strengthen the resistance. A puncture of this level is possible to 1.0051, to the high of September 20, but this puncture will already be false. This is the main scenario. An alternative scenario allows the price to rise to the upper area of a prolonged and broad consolidation of August-September at 1.0150.

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

Analysis are provided by InstaForex.

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Forex Analysis & Reviews: Forecast for GBP/USD on September 26, 2022

The British pound fell by an incredible 417 points (-3.65%) on Friday, reaching strong support from the 1.0830 price level and price channel line of the monthly timeframe. This morning, during the first four hours of the trading session, the price fell by another 490 points in the moment, winning back half of the fall in the next half hour.



Now the price is between the target levels of 1.0310 and 1.0535. The Marlin Oscillator is in the oversold zone, the ultra-high volatility of the pound indicates its potential correction in the near future. The optimal strategy in this situation would be to wait for the correction to be completed and then open new short positions. The nearest target at 1.0310, formed by the embedded line of the price channel, remains unworked out. Leaving the area under it opens the 1.0140 target.



On a four-hour scale, the Marlin Oscillator is already headed for a correction - the price is consolidating under the level of 1.0535. We are waiting for the correction to be completed, the market to be calm, and the price to move down further.

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

Analysis are provided by InstaForex.

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Existing analytical skills must be able to be considered properly, this is done so that traders can be more leverage in getting the security and comfort of trading like what I got from Tickmill.

Forex Analysis & Reviews: Forecast for GBP/USD on September 27, 2022

Yesterday, the pound fell on Friday's example, but this time, after a decline of 487 points, there was a strong rebound of 570 points. The day was still closed with a black candle.



The lower shadow still did not reach the target level of 1.0310. Now there is a consolidation under the level of 1.0830. Upon completion of the consolidation, we are waiting for a new wave of decline to 1.0310. Intermediate level of 1.0535.



On the four-hour chart, the price reverses before the resistance level of 1.0830, and the Marlin Oscillator also reverses. If the price does not change its mind and decreases from the current levels (without re-working out 1.0830), then we are waiting for it at the first target of 1.0535.

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

Analysis are provided by InstaForex.

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Forex Analysis & Reviews: Trading Signal for Gold (XAU/USD) On September 28-29, 2022: buy above $1,625 or in case of rebound at $1,600 (0/8 Murray - oversold)



Since the beginning of August, gold (XAU/USD) has been trading inside a downtrend channel. It is likely to find support around 0/8 Murray (1,625).

Gold reached the low of April 05, 2020, at 1,621.01. It is currently trading near these levels and is showing levels of consolidation.

Some members of the FED are supporting further increases in interest rates, even at the risk of slowing economic growth. On Friday, the president of the Federal Reserve Bank of Philadelphia said that he believed that the US central bank could reduce inflation without causing a deep recession and high unemployment.

Yesterday, in the American session, gold made a brief recovery and reached 1,642.33. As it failed to consolidate gains, it changed course and now is facing a decision to break the critical support of 1,625.

In the event of a drop below 1,624, it will head towards the next level of 1,610 and could even drop towards the psychological level of 1,600.

Conversely, a sharp break above the 21 SMA could accelerate the upside momentum and the price could reach the top of the downtrend channel around 1,656-1,662.

According to the 4-hour chart, the outlook remains negative for gold. In case of extending the bounce, the resistances could be located at 1,641, followed by 1,656. A drop below 1,625 in the short term would expose the area of recent lows and the next support at 1,600.

Our trading plan for the next few hours is to buy XAU/USD only if it trades above 0/8 Murray (1,625) or if there is a technical bounce off the bottom of the downtrend channel around 1,600. With targets at 1,625,1,645 and 1,656.

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

Analysis are provided by InstaForex.

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