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  1. #3031
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    Control zones for USD/CAD on June 12, 2020

    The bullish movement of the quotes yesterday was 300 pips, which indicates the strength of the buyers. Any fall of the pair should be considered as an opportunity to enter buy positions, since the probability of updating the weekly high is 75%, which makes long positions profitable.



    The most favorable levels for buy positions are within the limits of the WCZ 1/2 1.3524-1.3509, a test of which will be decisive for the bullish impulse.

    Today, the pair is trading within the average weekly move, which increases the likelihood of a downward correction. The fall will occur against yesterday's strong movement, so entering sell positions is quite risky. Instead, use the drop as an opportunity to find a favorable level for buy positions in the trading instrument.



    Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
    Weekly CZ - weekly control zone. The area formed by the important marks of the futures market, which changes several times a year.
    Monthly CZ - monthly control zone. The area that reflects the average volatility over the past

    Analysis are provided byInstaForex.

  2. #3032
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    Forecast for EUR/USD on June 15, 2020

    EUR/USD
    The euro fell by 42 points last Friday. It did not reach the target level of 1.1200 by 13 points, we are waiting for its development in the near future and only after that a local correction in the range of 1.1200/65. A small divergence on the Marlin oscillator continues to remain in force. Overcoming the price level of 1.2000 will allow the price to fall even deeper, to the price channel line in the region of 1.1120.



    The price is developing under the indicator lines of balance and MACD on the four-hour chart, the price is kept below the level of 1.1265. The signal line of the Marlin oscillator is falling within its own channel, from the lower border of which it has turned up, which indicates that the price will likely fall only in the evening.



    Analysis are provided byInstaForex.

  3. #3033
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    Forecast for AUD/USD on June 16, 2020

    AUD/USD
    Yesterday evening, the aggressive growth of the US dollar due to the Federal Reserve's statement about the intention to buy corporate bonds from the secondary market pushed the Australian currency up, it ended the day above a strong technical level of 0.6900. The Marlin oscillator is growing; formally, the target 0.7080 is open before the price.



    Considering the situation on a smaller four-hour chart indicates the presence of an alternative scenario that has a high probability of implementation - a price reversal from current levels, from the notched MACD line (indicator blue). The Marlin oscillator in the zone of positive values. Price taking above yesterday's high will still launch the first scenario with an increase to 0.7080. We are waiting for the development of the situation.



    Analysis are provided byInstaForex.

  4. #3034
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    Technical Analysis of GBP/USD for June 17, 2020:



    Technical Market Outlook:
    The GBP/USD price moved towards the 61% Fibonacci retracement located at the level of 1.2674, but bulls was not strong enough to break through it and the price reversed. The market conditions are now bouncing from the oversold levels, so the bulls might risk another wave up from the current levels towards the nearest technical resistance seen at the level of 1.2747. Nevertheless, they have to violate the level of 1.2674 first. The immediate technical support is seen at the level of 1.2645.

    Weekly Pivot Points:
    WR3 - 1.3034
    WR2 - 1.2910
    WR1 - 1.2681
    Weekly Pivot - 1.2581
    WS1 - 1.2343
    WS2 - 1.2226
    WS3 - 1.2014

    Trading Recommendations:
    On the GBP/USD pair the main trend is down, but the local up trend continues. The key long-term technical support has been recently violated (1.1983) and the new one is seen at the level of 1.1404. The key long-term technical resistance is seen at the level of 1.3518. Only if one of these levels is clearly violated, the main trend might reverse (1.3518) or accelerate (1.1404). The market might have done a Double Top pattern at the level of 1.2645, so the price might move lower in the longer-term.

    Analysis are provided byInstaForex.

  5. #3035
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    Forecast for USD/JPY on June 18, 2020

    USD/JPY
    The yen strengthened by 30 points on Wednesday due to lower stock indices, which looks like a decrease in the USD/JPY pair on the chart. Yesterday, the S&P 500 fell 0.36%, while the Nikkei 225 is losing 1.22% today. The price went below the MACD line on the daily chart, while Marlin is declining. The target at 105.90 as support for the embedded line of the price channel is open. In case we overcome support, we expect the price at the second target of 105.40.



    The price has consolidated under the red balance indicator line on the four-hour chart, and the Marlin oscillator line has entered the declining trend zone this morning. We are waiting for prices at the first target of 105.90.



    Analysis are provided byInstaForex.

  6. #3036
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    USD/CHF price movement, June 19, 2020



    On the 4 hour chart now, we can see that USD/CHF is now moving in a narrow range. Overall, this pair has already formed a Triangle Pattern. It means that the USD/CHF pair will soon decline especially if this pair breaks out and closes bellow the red rectangle/ It will break through 0.9480 and 0.9375. This scenario is likely to occur if the pair does not rise and close above 0.9553.

    Analysis are provided byInstaForex.

  7. #3037
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    Forecast for EUR/USD on June 22, 2020

    EUR/USD
    Last Friday, buyers of the dollar managed to restrain the onslaught of the euro bulls and keep the single currency in a downward local trend of the last ten days. The signal line of the Marlin oscillator on the daily chart has penetrated the territory of the bears, now it is easier for the market trend to reach the target along the embedded line of the price channel of 1.1115. Overcoming this support opens the second target of 1.1010.



    The four-hour chart shows that the euro's growth in the first half of the day was restrained by the balance indicator line, that is, the growth occurred in the framework of the general decreasing trend, which strengthens this trend itself. Now in the struggle of the local trend with convergence, the Marlin oscillator has a higher chance of winning the trend. We are waiting for the price at 1.1115.



    Analysis are provided byInstaForex.

  8. #3038
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    Technical Analysis of EUR/USD for June 23, 2020:



    Technical Market Outlook:
    The EUR/USD pair has tested the lower level of the support range located at 1.1185 and bounced towards the short-term trend line resistance located around the level of 1.1265. The oversold market conditions might help the bulls to test the nearest technical resistance, but they must break through the short-term trend line resistance in order to regain the control over the market. Any violation of the level of 1.1148 will accelerate the sell-off towards the next technical support seen at 1.0009. So, it is important for bulls to defend this level, but only a sustained violation of the short-term trend line resistance would put them back into control (around the level of 1.1300).

    Weekly Pivot Points:
    WR3 - 1.1456
    WR2 - 1.1397
    WR1 - 1.1266
    Weekly Pivot - 1.1215
    WS1 - 1.1074
    WS2 - 1.1031
    WS3 - 1.0903

    Trading Recommendations:
    On the EUR/USD pair, the main long-term trend is down, but the local up trend continues. The key long-term technical support is seen at the level of 1.0336 and the key long-term technical resistance is seen at the level of 1.1540. Only if one of this levels is clearly violated, the main trend might reverse (1.1540) or accelerate (1.0336).

    Analysis are provided byInstaForex.

  9. #3039
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    Forecast for EUR/USD on June 24, 2020

    EUR/USD
    The euro grew by 48 points on Tuesday, almost consolidating itself above the target level of 1.1265 after a reversal of the Marlin oscillator signal line from the zero border line dividing the decline zone from the oscillator growth zone, indicating the prospect of a market trend. The next target of 1.1385 is formally open, but it may not be achieved, which can be seen when considering the situation on a smaller timeframe.



    Marlin's signal line went beyond the upper boundary of its own channel on the H4, but soon returned to it. This is already a sign of the falsity of the past price spike. And here two scenarios are possible: a slower growth of the euro in the range of 1.1353/85 with a divergence forming according to Marlin, and a reversal of the euro down without reaching 1.1353 (the June 16 high), practically from current levels. The first signal for this is the price drift under the MACD line (1.1295).



    Thus, it is late and unreliable to buy the euro, and early to sell. We are waiting for the resolution of the situation.

    Analysis are provided byInstaForex.

  10. #3040
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    Elliott wave analysis of EUR/JPY for June 25, 2020



    EUR/JPY is in a minor correction from 121.10 preparing for a new impulsive rally higher towards the key-resistance at 122.12. A break above here will confirm that wave 2 has been completed. It is likely to test 119.41 and wave 3 is in motion for an ultimate break above the peak at 124.43.

    In the short-term, we are looking for a break above minor resistance at 120.75 to confirm this minor correction is completed and the rally to 122.12 is unfolding.

    R3: 122.12
    R2: 121.58
    R1: 121.23
    Pivot: 120.75
    S1: 120.19
    S2: 119.88
    S3: 119.60

    Trading recommendation:
    We are long EUR from 119.95 and we have our stop placed at 119.35.

    Analysis are provided byInstaForex.

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