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Forex Analysis & Reviews: Forecast for EUR/USD on February 14, 2023
The market was calm on Monday, without any upbeat news, the euro could not overcome the technical support at 1.0660, yesterday's growth was 45 pips. The euro continued to move sideways in the 1.0660-1.0758 range.
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The best thing that the euro can do for the bearish scenario is to pierce the upper limit of the 1.0758/87 range. If the euro settles above the MACD line (above 1.0820), the alternative option is for the price to rise to 1.0990. I expect the price to cross 1.0660 and fall further to 1.0595.
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On the four-hour chart, the signal line of the Marlin oscillator is in the green zone. This will help the price and if it doesn't overcome the nearest resistance, then it will linger in the sideways movement. At the moment, time is not on the euro's side, since the MACD line is getting closer to the price with each candle, and it increases the pressure.
*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: Technical Analysis of Daily Price Movement of USD Currency Index, Wednesday February 15 2023.
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On the daily chart of the USD Dollar Index, it can be seen that there was a trendline break (TLB) condition on the CCI (14) indicator which was previously in a bear condition where the Chop Zone (CZ) indicator (levels 100 & -100) was red but after that TLB and CCI move above level 0, so CZ changes color to cyan blue and now the CCI histogram (14) has turned green, followed by Sidewinder color (levels 200 & -200) changes color to yellow (volatile/Trending) and green (very volatile / trending) so that in the future USDX has the potential to be Bullish appreciated going up to the 103.96 level as the first target and the 105.63 level as the second target but before that it seems that USDX will be corrected down to test the 102.19 level and as long as this level is strong enough to hold back the pace correction and does not exceed the level of 100.82, USDX has the potential to strengthen again where this can be seen at CCI 914) is trying to form Zero Line Reject (ZLR) pattern.
*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 February 16, 2023
Pound fell by 140 pips as sellers became active yesterday due to the weaker-than-expected inflation data. It indicated that core CPI fell from 12.9% y/y to 12.6% y/y in January.
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There was a price reversal on the daily (D1) timeframe, both from the MACD line and the Marlin oscillator. This means that traders have to take the target level of 1.1900 in order to open the way towards 1.1737.
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On the four-hour (H4) timeframe, the price has consolidated under the balance and MACD lines, while the Marlin oscillator consolidated in the area of the downward trend. This indicates that there will be a further downward move in GBP/USD.
*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: USDCAD Potential for Bullish Rise to 61.8% Fibonacci line
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Description :
Looking at the H4 chart, my overall bias for USDCAD is bullish as the current price is above the Ichimoku Cloud. Looking for a pullback buy entry at 1.34295 where the 38.2% Fibonacci line is. We are looking to take profit at 1.35352 where the 61.8% Fibonacci line is, Stop loss will be placed at 1.33638, where the recent swing low is.
Trading Recommendation
Entry: 1.34295
Reason for Entry: 38.2%
Fibonacci line
Take Profit: 1.35352
Reason for Take Profit:
61.8% Fibonacci line
Stop Loss: 1.33638
Reason for Stop Loss:
the recent swing low
*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 February 20, 2023
The 60-pip decline of EUR/USD last Friday could not be extended. This is because the pair closed with a small white candle, and this morning went back to the range it was trading at last February 16. Although indicator readings have not changed over the past two days, it seems that euro is preparing to overcome the support level of 1.0660.
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If that happens, the way towards the target level of 1.0470 will be easier. Market players should look out for the exit of the signal line of the Marlin oscillator, which is marked on the daily (D1) chart with a gray rectangle.
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On the four-hour (H4) chart, Friday's growth was stopped by the resistance of the balance and MACD lines. The signal line of the oscillator is also turning down, and although there was a similar pattern of simultaneous reversal of the price and the oscillator from last Thursday, the signal this time may turn out to be more significant.
*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 February 21, 2023
GBP/USD closed on Monday at Friday's closing levels. Then, this morning, there is a slightly bearish sentiment, which turned the Marlin oscillator in the daily (D1) timeframe down, pushing it towards a negative territory.
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It seems that hitting the target level of 1.1900 is becoming more and more plausible. If that happens, the pair will head towards 1.1737, which is the top last September 13, 2022. A price movement below the balance and MACD lines will keep the trend bearish.
But on the four-hour (H4) chart, the pair continues a sideways movement, right between the balance and MACD lines.
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The signal line of the Marlin oscillator is reversing from zero, indicating that it is going to test the MACD line (1.1989), which is also the low last February 15. If it succeeds, the pair will decline further to the target support level of 1.1900.
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Analysis are provided by InstaForex.
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Forex Analysis & Reviews: Forecast for EUR/USD on February 22, 2023
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.
EUR/USD fell by 35 pips on Tuesday, breaking through the support level of 1.0660. However, the decline is short-lived as the pair is already trying to get back above 1.0660 during today's Asian session. This is already the second unsuccessful attempt to go under the support level. The first one was on February 17. Under the new circumstances, the pair may now make an attempt to rise to the target range of 1.0758/87.
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If the Marlin oscillator continues to move sideways or go down, the pair will not be able to climb up. After all, a consolidation has been going on since February 6, and a breakout is most likely to occur downward. If that happens, the pair will decline below 1.0595 and go further towards 1.0470.
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On the four-hour (H4) timeframe, the pair is under the indicator lines and the Marlin oscillator is moving sideways. Wait for a consolidation above or below 1.0660 and watch for further developments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Analysis are provided by InstaForex.
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Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of AUD/JPY Cross Currency Pairs, Thursday February 23 2023 Kamis 23 Februari 2023.
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.
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Although this time on the daily chart AUD/JPY cross currency pairs is moving in a channel that dips downwards which means that the main bias is still bearish but currently AUD/JPY is experiencing a correction rallying upwards which is marked by the appearance of the Bearish Continuation Ascending Broadening Wedge pattern even though the Bullish 123 pattern has appeared which is followed by the appearance of several Ross Hooks (RH) , while the level that will be tested in the near future is the 92.98 level. If this level is successfully penetrated and as long as it does not return to its initial bias and goes below the 90.74 level, AUD/JPY in the next few days has the potential to test the 93.58 level as its first target and the 94.37 area level. -95.22 as the second target if the momentum and volatility are enough to support.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Analysis are provided by InstaForex.
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Forex Analysis & Reviews: Forecast for EUR/USD on February 24, 2023
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.
On Thursday, the euro showed some volatility, not being able to break away from the target level of 1.0595. This morning, the quote is also fluctuating near that level, but the Marlin oscillator started reversing upward, so it might correct to the resistance at 1.0660. If the price finds the strength to settle under 1.0595, then next week we can expect a hike to the target level of 1.0443/70.
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On the four-hour chart, the nearest resistance to the corrective growth is the MACD indicator line (1.0622). Once it overcomes this line, we can expect further price growth. The Marlin oscillator, which has come out of its own descending channel upwards, counts on the bulls' potential success.
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There is a traditional nuance - a false exit of the examined line beyond the boundary of the geometrical construction, so we're waiting for the development of events with the formation of confirming signs, both for bulls and bears.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Analysis are provided by InstaForex.
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