Thread: InstaForex Wave Analysis

USDJPY Day I Reacting off resistance level?



USD/JPY displays bearish momentum, potentially heading towards the 1st support at 144.94, which aligns with overlap support. On the resistance front, the 1st resistance at 150.30, marked as a multi-swing high resistance, may hinder further upward movement. A 2nd resistance at 152.72, coinciding with the 100% Fibonacci Projection, adds to its potential as a significant resistance zone.

Analysis are provided by InstaForex.

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USDJPY H4 I Falling to support level?



USD/JPY indicates bearish momentum with a potential bearish reaction near the 1st resistance at 149.50, leading to a possible decline to the 1st support at 148.92. The 1st support is reinforced by overlap support, while the 2nd support at 148.42 adds further strength to this support zone.

On the resistance side, the 1st resistance at 149.50 is significant due to overlap resistance and the 38.20% Fibonacci Retracement, potentially impeding upward movement. The 2nd resistance at 149.97 presents challenges with overlap resistance, the 78.60% Fibonacci Projection, and the 61.80% Fibonacci Retracement, signifying a strong resistance area.

Analysis are provided by InstaForex.

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Forecast for GBP/USD on November 1, 2023

GBP/USD Yesterday, the British pound tried to move towards the target range of 1.2271/87 but stopped by the balance line on the daily chart, just as it was on October 24th. Afterwards, the price returned below the descending price channel line. The signal line of the Marlin oscillator came close to the border of the bearish territory.



In case the Federal Reserve shows a softer stance, the price may reach some bullish targets (1.2271/87, 1.2400). However, the current situation lowers the chances of growth, which warns the speculative nature of the moment. If the price settles below 1.2070, it will likely fall towards 1.1880.



On the 4-hour chart, the price has settled below the balance and MACD indicator lines after a false bullish breakout. The Marlin oscillator has also returned to the bearish territory. As a result of the FOMC meeting, the pound may weaken.

Analysis are provided by InstaForex.

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XAUUSD H4 | Neutral Momentum?



The XAU/USD chart currently shows a neutral overall momentum, indicating a lack of a strong directional trend. In this scenario, the price is expected to fluctuate between the 1st support at 1974.67 (overlap support) and the 1st resistance at 1992.18 (overlap resistance). These levels are significant, with the support potentially attracting buyers at 1974.67 and the resistance posing a hurdle for further price gains. The 2nd support at 1962.70 (overlap support) and the 2nd resistance at 2006.11 (multi-swing high resistance) further reinforce these potential support and resistance zones.

Analysis are provided by InstaForex.

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USDCHF H4 I Falling to Support level?



The USD/CHF chart shows bearish momentum with potential movement towards the 1st support at 0.9032, a pullback support strengthened by the 61.80% Fibonacci Retracement. The 2nd support at 0.8982, considered an overlap support, adds to its significance as a potential buying area.

On the resistance side, the 1st resistance at 0.9111, an overlap resistance, might attract selling interest. The 2nd resistance at 0.9177, a multi-swing high resistance, could strongly impede upward movement. Traders should closely watch these levels, given the overall bearish chart bias.

Analysis are provided by InstaForex.

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EURUSD Day I Rising toward resistance level?



The EUR/USD chart currently demonstrates bullish momentum, suggesting the potential for an upward move towards the 1st resistance. The 1st support at 1.0674, associated with the 23.60% Fibonacci Retracement level, may attract buying interest as a significant level. On the resistance side, the 1st resistance at 1.0765, linked to the 38.20% Fibonacci Retracement level, could pose as a level of selling pressure due to its overlap resistance nature. The 2nd resistance at 1.0858, related to the 50% Fibonacci Retracement level, further reinforces its significance as a potential obstacle to upward price movement.

Analysis are provided by InstaForex.

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EURUSD H4 I Boucnig off support?



The EUR/USD chart shows bearish momentum, potentially heading towards the 1st support at 1.0678, a pullback support. The 2nd support at 1.0606, coinciding with the 61.80% Fibonacci Retracement, adds to the support zone.

On the resistance side, the 1st resistance at 1.0759, a multi-swing high resistance, could lead to selling pressure. The 2nd resistance at 1.0835 is another potential obstacle for upward movement.

Analysis are provided by InstaForex.

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Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, November 08 2023



With a price movement which is above its EMA 200 that has an upward slope as well as the appearance of Bullish 123 pattern followed by the Bullish Ross Hook (RH) which in a few times manages to breakout above as well as the appearance of Fractal Bar pattern which detected at the candle Pinbar on the 4 hour chart of AUD/JPY Cross currency pairs, then in the near future, this cross currency pairs has the potential to appreciate above to the level 97.53. If on the way to the level there is no downward correction which breaks under the level 95.84, because if this level manages to break above, then the strengthening condition that has been described before will become invalid and cancel itself.

Analysis are provided by InstaForex.

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EURUSD H4 I Continue to resistance?



EUR/USD exhibits bullish momentum with a focus on the 1st resistance. The 1st support at 1.0664 coincides with the 38.20% Fibonacci Retracement, a key buying level. Similarly, the 2nd support at 1.0606 aligns with the 61.80% Fibonacci Retracement, enhancing its significance.

Resistance is expected at the 1st resistance of 1.0758, a multi-swing high resistance likely to trigger selling pressure. The 2nd resistance at 1.0835, a pullback resistance, may further impede upward movement

Analysis are provided by InstaForex.

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XAUUSD H4 I Continue to Support?



The XAU/USD chart currently has a bearish momentum, indicating a potential move towards the 1st support at 1946.66, an overlap support with historical significance. The 2nd support at 1932.50 reinforces the potential buying zone as a pullback support. The 1st resistance at 1964.79, an overlap resistance coinciding with the 38.20% Fibonacci Retracement level, may impede upward movement. The 2nd resistance at 1976.78 acts as a pullback resistance, potentially adding to selling pressure during the bearish continuation.

Analysis are provided by InstaForex.

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