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RE: Wave Analysis by InstaForex - 3/5/2019 11:46:06 PM   
InstaForex Gertrude

 

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AUD/USD. In the grip of contradictions: the aussie cannot choose the vector of its movement

The March meeting of the Reserve Bank of Australia was quiet and almost imperceptible. The regulator retained the parameters of monetary policy in its previous form and did not frighten the market with arguments about the interest rate reduction in the foreseeable future. The Australian dollar, in turn, reacted accordingly: paired with the US currency, the "aussie" remained within the 70th figure, and Tuesday's price fluctuations were associated more with Chinese data than with the results of the RBA meeting.

In order to assess the prospects of AUD/USD, first of all it is necessary to remember the reasons for the pair's decline last month. The downward impulse was due to the rhetoric of the head of the RBA Philip Lowe, who, to the surprise of many traders, allowed the probability of lowering the interest rate this year. It is worth noting that in fact his phrase was more shrouded – firstly, he reported the transition to a "neutral position" in monetary policy, and secondly, he noted that the rate can be both increased and reduced. But the market interpreted this commentary in its own way, especially since earlier in the text of the accompanying statement there was only a phrase that "in the future" the parameters of monetary policy will be tightened. In other words, the regulator has transparently hinted that in the near future it will take a wait-and-see position, and then act on the situation, and the option of reducing the rate is likely to be the opposite scenario. In response to such prospects, the AUD/USD pair fell by almost 200 points, but the price did not fall below the 70th figure, stuck in a narrow-range flat.

Given Philip Lowe's rather dovish rhetoric, many experts warned that the regulator could significantly soften its tone at the March meeting. However, these forecasts did not come true: the Reserve Bank voiced a cautious, but not pessimistic position, even noting positive developments in the Australian economy - in particular, regarding the labor market.

Let me remind you that according to the latest published data, the unemployment rate in Australia remained at five percent, but the increase in the number of employed jumped to 39.1 thousand - the last time such a dynamics was observed was back in August 2018. Moreover, employment growth in January was not due to part-time employment — on the contrary, the employment rate for full-time jobs, which imply higher wages, surpassed a one-and-a-half high, while part-time employment showed a negative trend. This factor has a positive effect on the dynamics of wage growth and, indirectly, on the dynamics of inflation growth.

However, despite the neutral and optimistic results of the March meeting of the RBA, the aussie did not regain its position or even leave the region of the 70th figure. The reason for this is China. Today, another disappointing data from China was published, which again reminded the market of the slowdown of the world's largest economy. Thus, the index of business activity in the services sector from Markit (Markit Services PMI) sharply declined in February, reaching 51.1 points. Over the previous three months, this indicator came out within the framework of 53 points, therefore, such a sharp and, most importantly, unexpected (forecast was at the level of 53.5 points) downward jump had an impact on the dynamics of today's trading. The Australian dollar is most sensitive to the decline in Chinese indicators, since China is its main trading partner.

Taking into account such contradictory fundamental factors, the AUD/USD pair will continue to be traded in the flat - if only the data on Australian GDP growth for the fourth quarter of last year (the release is scheduled for March 6) prove to be stronger/weaker than forecasts. According to general expectations, the Australian economy should grow by 0.5% qoq and decrease to 2.7% year-on-year. If the release comes out at the level of forecasts, then the pair's situation will remain as before, otherwise the aussie will test either the support level (0.7020 - the lower boundary of the Kumo cloud on the daily chart), or the resistance level (0.7180, where Kijun-sen coincides with the upper line of the Bollinger Bands indicator on the same timeframe).

Analysis are provided by InstaForex


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Post #: 421
RE: Wave Analysis by InstaForex - 3/6/2019 11:22:00 PM   
InstaForex Gertrude

 

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AUD/USD: The aussie dives down, but there is strong support ahead

Yesterday, the Australian dollar showed certain optimism, "inspired" by the results of the March meeting of the RBA. The regulator took a cautiously optimistic stance, focusing on the positive aspects of the Australian macroeconomic reports. Contrary to the fears of many experts, the central bank did not discuss the issue of reducing the interest rate, leaving some hope for the preservation of the status quo. But today, market mood regarding the prospects of the Australian currency has changed dramatically: published data on GDP growth in Australia suggests that the option of easing monetary policy can not be dismissed. Moreover, according to a number of currency strategists, such a scenario should be considered as one of the main ones.

Data on the growth of the Australian economy was disappointing. What is alarming is not just the fact that the country's GDP slowed down in the fourth quarter of last year - it is a persistent trend towards a decrease in the key indicator. Thus, if in the first quarter of 2018, Australia's GDP was at the level of 1.1% (quarterly), in the second quarter it decreased to 0.9%, in the third – to 0.3%, and finally in the fourth – to 0.2%. The same dynamics is observed in annual terms of the indicator: I quarter – 3.2%, II – 3.1%, III – 2.7% and IV – 2.3%. Today's release was not only worse than forecasts, but it also marked a certain anti-record. For example, on a quarterly basis, the indicator showed the weakest growth dynamics since the third quarter of 2016.

It is worth recalling that at its January meeting, the Reserve Bank of Australia downwardly revised its forecast for economic growth this year - from 3.5% to 3%. However, the figures published today suggest that the RBA may return to this issue in the future, reducing its growth forecast to at least 2.8%. Extremely weak indicators for the fourth quarter cast doubt on the sustainability of the country's economic growth and, consequently, increases the likelihood of a response from the Australian regulator. As I mentioned above, some currency strategists warn their clients about the implementation of such a scenario.

So, in late February, experts from Westpac (one of the largest banks in Australia, included in the "big four" banks of the country) surprised traders with the fact that they had made a double RBA rate cut before the end of this year. At the same time, economists of this bank, at the beginning of the year, claimed that the regulator would leave the rate unchanged until the end of 2020. Such a sharp turn put some pressure on the Australian dollar, which was then offset by good data on the Australian labor market and neutral results of the March meeting.

Nevertheless, Westpac did not abandon its "dovish" forecast: moreover, today this opinion was supported by two more conglomerates - JPMorgan and Macquarie Bank. Analysts of these banks said that the Australian regulator will not be able to ignore the further slowdown in the economy, while there are no prerequisites for changing the situation at the moment, especially against the background of the slowdown in the PRC economy. Therefore, the RBA will have no other choice but to lower the interest rate - at least once before the end of this year. The opinion of several large banks is shared by many experts, who voiced their point of view following the release of disappointing data.

According to more restrained forecasts, the RBA will still hold a wait-and-see position, but if there are no clear and strong signals about economic recovery in the coming months, then the central bank will still lower the rate - especially if economists worsen GDP growth forecasts for this year to 2.6% .

After such an unexpected reversal in the market's general sentiment, the Australian dollar was under considerable pressure. Paired with the US dollar, the aussie is heading to the main support level of 0.70. This mark is a "price stronghold", which is difficult to break through, but even more difficult - to consolidate in the area of 69-68 figures. If you look at the weekly and monthly charts, you can see that the pair was under the 70th mark only in 2016 for the last time in a long time. After that, the bears made impulsive attempts to break through, but the price quickly returned to its usual niche.

Therefore, despite the negative fundamental background for the aussie, short positions in the AUD/USD pair currently appear risky, with the price now in the area of 0.7030, that is very close to the key level of support. In this case, it is advisable to observe the behavior of the pair at the bottom of the 70th figure. If the bearish momentum fades, then a corrective pullback will probably follow (approximately to 0.7080, that is, to the upper boundary of the Kumo cloud on D1), which, however, does not cancel the overall downward trend for the pair.

Analysis are provided by InstaForex

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Post #: 422
RE: Wave Analysis by InstaForex - 3/8/2019 1:00:22 AM   
InstaForex Gertrude

 

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Forecast for GBP/USD on March 8, 2019

Data on the growth of the Australian economy was disappointing. What is alarming is not just the fact that the country's GDP slowed down in the fourth quarter of last year - it is a persistent trend towards a decrease in the key indicator. Thus, if in the first quarter of 2018, Australia's GDP was at the level of 1.1% (quarterly), in the second quarter it decreased to 0.9%, in the third – to 0.3%, and finally in the fourth – to 0.2%. The same dynamics is observed in annual terms of the indicator: I quarter – 3.2%, II – 3.1%, III – 2.7% and IV – 2.3%. Today's release was not only worse than forecasts, but it also marked a certain anti-record. For example, on a quarterly basis, the indicator showed the weakest growth dynamics since the third quarter of 2016.

On a smaller scale, H4, price convergence with the Marlin oscillator is being formed, which can be realized in a correction from the pound's fall from February 28, visually from the balance line to the daily. We do not expect a high correction, since the signal level of 1.3108 can assume the role of a split, that is, the level at which the price will be wound in a consolidation process.

Analysis are provided by InstaForex


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Post #: 423
RE: Wave Analysis by InstaForex - 3/11/2019 12:21:32 AM   
InstaForex Gertrude

 

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Technical analysis: Intraday Level For EUR/USD, Mar 11, 2019

When the European market opens, some economic data will be released such as German Trade Balance and German Industrial Production m/m. The US will also publish the economic data such as Business Inventories m/m, Retail Sales m/m, and Core Retail Sales m/m, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1280.
Strong Resistance:1.1274.
Original Resistance: 1.1263.
Inner Sell Area: 1.1252.
Target Inner Area: 1.1226.
Inner Buy Area: 1.1200.
Original Support: 1.1189.
Strong Support: 1.1178.
Breakout SELL Level: 1.1172.


Analysis are provided by InstaForex

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Post #: 424
RE: Wave Analysis by InstaForex - 3/12/2019 12:37:32 AM   
InstaForex Gertrude

 

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Technical analysis: Intraday Level For EUR/USD, Mar 12, 2019


When the European market opens, some economic data will be released such as French Final Private Payrolls q/q. The US will also publish the economic data such as 10-y Bond Auction, Core CPI m/m, CPI m/m, and NFIB Small Business Index, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1313.
Strong Resistance:1.1307.
Original Resistance: 1.1296.
Inner Sell Area: 1.1285.
Target Inner Area: 1.1259.
Inner Buy Area: 1.1233.
Original Support: 1.1222.
Strong Support: 1.1211.
Breakout SELL Level: 1.1205.

Analysis are provided by InstaForex

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Post #: 425
RE: Wave Analysis by InstaForex - 3/13/2019 12:32:55 AM   
InstaForex Gertrude

 

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Technical analysis: Intraday Level For EUR/USD, Mar 13, 2019

When the European market opens, some economic data will be released such as German 30-y Bond Auction, Industrial Production m/m, and Italian Quarterly Unemployment Rate. The US will also publish the economic data such as Crude Oil Inventories, Construction Spending m/m, Durable Goods Orders m/m, Core PPI m/m, PPI m/m, and Core Durable Goods Orders m/m, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1344.
Strong Resistance: 1.1338.
Original Resistance: 1.1327.
Inner Sell Area: 1.1316.
Target Inner Area: 1.1290.
Inner Buy Area: 1.1264.
Original Support: 1.1253.
Strong Support: 1.1242.
Breakout SELL Level: 1.1236.

Analysis are provided by InstaForex


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Post #: 426
RE: Wave Analysis by InstaForex - 3/14/2019 12:31:37 AM   
InstaForex Gertrude

 

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Technical analysis: Intraday Level For EUR/USD, Mar 14, 2019

When the European market opens, some economic data will be released such as French Final CPI m/m and German Final CPI m/m. The US will also publish the economic data such as Natural Gas Storage, New Home Sales, Unemployment Claims, and Import Prices m/m, so amid the reports, the EUR/USD pair will move with a low to a medium volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.1383.
Strong Resistance: 1.1376.
Original Resistance: 1.1365.
Inner Sell Area: 1.1354.
Target Inner Area: 1.1330.
Inner Buy Area: 1.1300.
Original Support: 1.1289.
Strong Support: 1.1278.
Breakout SELL Level: 1.1271.

Analysis are provided by InstaForex


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Post #: 427
RE: Wave Analysis by InstaForex - 3/15/2019 1:03:45 AM   
IFX Yvonne

 

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USD/CAD approaching support, potential bounce!

USD/CAD is approaching our first support at 1.3241 (horizontal pullback support, 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong bounce to our major resistance level at 1.3347 (50% Fibonacci retracement) might occur. Stochastic (89,5,3) is also nearing support where we might see a bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.



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

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Post #: 428
RE: Wave Analysis by InstaForex - 3/18/2019 12:05:32 AM   
InstaForex Gertrude

 

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USD/CHF approaching support, potential bounce!

USD/CHF is approaching our first support at 1.0018 (horizontal pullback support, 61.8% Fibonacci extension) where a strong bounce might occur to our major resistance at 1.0054 (38.2% Fibonacci retracement). Stochastic (34,5,3) is also nearing support where we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.

Analysis are provided by InstaForex


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Post #: 429
RE: Wave Analysis by InstaForex - 3/19/2019 12:22:44 AM   
InstaForex Gertrude

 

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Technical analysis: Intraday Levels For EUR/USD, Mar 19, 2019

When the European market opens, some economic data will be released such as ZEW Economic Sentiment, German ZEW Economic Sentiment, and Italian Trade Balance. The US will also publish the economic data such as Factory Orders m/m, so amid the reports, the EUR/USD pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1394.
Strong Resistance: 1.1387.
Original Resistance: 1.1376.
Inner Sell Area: 1.1365.
Target Inner Area: 1.1338.
Inner Buy Area: 1.1311.
Original Support: 1.1300.
Strong Support: 1.1289.
Breakout SELL Level: 1.1282.

Analysis are provided by InstaForex


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Post #: 430
RE: Wave Analysis by InstaForex - 3/19/2019 11:43:48 PM   
InstaForex Gertrude

 

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EUR/USD. The dollar is getting cheaper ahead of the March Fed meeting

The dollar index continues to dive down. After reaching the local high of 97.26 on March 7 (a three-month high), the indicator started to actively give up its positions - the index is currently already at the level of 95.86. The nearly recoilless movement of the indicator indicates market alertness: the closer the date of the March Federal Reserve meeting, the more that traders actively get rid of the greenback. The nervousness of investors is understandable: after all, the so-called "Fed points" (dot plots) will be published on Wednesday, which will mark the likely actions of the regulator this year. For the first time in a long time, one of the hypothetical scenarios suggests a reduction in the rate. This fact does not make it possible for dollar bulls to develop an offensive in the foreign exchange market: in almost all pairs, the US currency has lost its advantage. The euro-dollar pair is no exception.

However, "not a single Federal Reserve" lives the market today. Today, the growth of the EUR/USD pair is also spurred by good macroeconomic data from Europe, as well as a news background regarding the future prospects of Brexit. Thus, the ZEW Institute's sentiment index for the business environment in Germany showed the strongest increase in March over the last year. And although the indicator remained in the negative area, traders drew attention to the dynamics of its growth. In addition, the increase in the index as a whole in the eurozone also surpassed expectations, having updated its 10-month high. Against the background of a half-empty economic calendar, these releases were enough for EUR/USD bulls to test the middle of the 13th figure, especially against a weakened dollar.

The Brexit theme also makes it possible for the pair to be bullish. Although at the moment, no one can predict how the confrontation in the May-Parliament-Brussels triangle will end, one thing can be said with certainty: in the foreseeable future, there will be no "hard" Brexit. All other scenarios somehow "fit" the currency market, the only difference is how long the period of uncertainty lasts.

Despite the importance of the fundamental factors mentioned above, the Fed meeting is still the main engine of growth for the EUR/USD, or rather, expectations of its outcome. According to the expectations of most experts, the Fed will change its monetary policy forecast, reducing the number of expected rate increases from two to one. Also, the regulator may announce the suspension of the balance sheet reduction. In general, the text of the accompanying statement, as well as the rhetoric of Jerome Powell (who will hold a press conference), will be cautious in nature, implementing the "policy of patience".

If this scenario is implemented tomorrow, which is the basis for the market, the reaction of the dollar is unlikely to be large-scale. But any deviation from it will cause a fairly strong volatility. First of all, you should pay attention to the assessment of the latest US macroeconomic data. Nonfarm and CPI showed quite contradictory dynamics, therefore unpleasant surprises are possible for dollar bulls. Let me remind you that following a record increase in the number of people employed in January (by 311 thousand), this figure then fell to 20 thousand in February.

Experts are still arguing over what caused such a sharp decline - seasonal factors, massive teacher strikes or systemic problems. By the way, the initial optimism about reducing the unemployment rate from 4% to 3.8% came to nothing, since this dynamic is explained by the return of government employees after a prolonged shutdown.

As for inflation, the situation is even worse. The increase in consumer price index in January was 1.8% compared to the same period last year, while the base PCE excluding food and energy prices rose by 1.9%. Thus, inflation slowed down compared with the period of last year, and this fact goes against the forecasts of the US central bank, whose members hoped to keep the key indicator at a two percent level. On the other hand, good data on wage growth in the United States may slightly smooth out the negative reaction - although the overall inflationary trend leaves much to be desired.

Thus, for the dollar, there are two potentially dangerous options for the event's development: if the Fed completely eliminates the likelihood of a rate hike this year, and if the Fed head allows the rate to drop in the foreseeable future. All other options will either have a neutral impact on the greenback, or strengthen its position throughout the market.

In a technical point of view, the pair finally consolidated above the middle line of the Bollinger Bands indicator on the daily chart (that is, above the mark of 1.1320) - EUR/USD bulls attacked this target for a week and a half. Now the pair has the potential to increase towards the next resistance level - the lower boundary of the Kumo cloud, which corresponds to the price of 1.1390. The Golden Cross formed by the Ichimoku indicator also confirms the priority of an upward movement. However, the saturated events of the environment can turn the price by 180 degrees - especially if the Fed has shown unexpected optimism about tightening monetary policy in the second half of the year. If the regulator reduces the upper limit of the neutral range to 2.75% or even to the current 2.50%, the dollar will fall under the next wave of being sold.

Analysis are provided by InstaForex


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Post #: 431
RE: Wave Analysis by InstaForex - 3/21/2019 12:18:46 AM   
InstaForex Gertrude

 

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Technical analysis: Intraday Levels For EUR/USD, Mar 21, 2019

When the European market opens, some economic data will be released such as ECB Economic Bulletin and EU Economic Summit. The US will also publish the economic data such as Natural Gas Storage, CB Leading Index m/m, Unemployment Claims, and Philly Fed Manufacturing Index, so amid the reports, the EUR/USD pair will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1489.
Strong Resistance: 1.1482.
Original Resistance: 1.1471.
Inner Sell Area: 1.1460.
Target Inner Area: 1.1433.
Inner Buy Area: 1.1406.
Original Support: 1.1395.
Strong Support: 1.1384.
Breakout SELL Level: 1.1377.

Analysis are provided by InstaForex

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Post #: 432
RE: Wave Analysis by InstaForex - 3/21/2019 11:55:56 PM   
InstaForex Gertrude

 

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Brexit: The UK proposed a date of June 30, which did not suit the EU. The deadline is May 22, with a number of conditions

The British pound fell sharply against the US dollar during the first half of the day after news came out that the EU leaders might reject the British Prime Minister Theresa May's request to postpone Brexit. Yesterday, the government sent a request to the EU to postpone the UK release date from March 29 to June 30. However, today there are reports in the media that the release date cannot be postponed to a date later than May 22.

Moreover, one of the EU's conditions is the Parliament's ratification of May's proposed agreement on Brexit, which has already been rejected twice by the House of Commons.

This news put serious pressure on the pound, since this option significantly increases the likelihood that the UK will withdraw from the EU on March 29 without an agreement.

Let me remind you that the summit in Brussels will begin today, where the leaders of the European Union will decide on the granting of the delay and its duration for two days.

As for the fundamental data that came out today on the UK economy, it did not have the desired effect and did not help the pound.

According to the report, UK retail sales increased in February, despite the events related to Brexit.

According to the National Bureau of Statistics, in February 2019, UK retail sales rose by 0.4% compared with January, after rising by 0.9% in January. Economists had expected retail sales to decline by 0.4% in February. Good retail sales are sure to support GDP growth after a weak completion in 2018.

Today, a report was also released in which it was stated that the net borrowings of the PSNB state sector amounted to £0.2 billion in February. The net borrowings of the UK public sector over the past 11 months at the end of March 2019 amounted to 23.1 billion pounds.

The Bank of England's decision to leave the key interest rate at 0.75% slightly supported the British pound. The decision was made with a vote ratio of 9-0.

The regulator said that it expects a smooth tightening of monetary policy in the event of an orderly exit of Great Britain from the EU, and that the outlook for the economy depends on it.

As for the technical picture of the GBPUSD pair, large levels of support are now visible in the areas of 1.3080 and 1.3030. In case of an upward correction on Brexit news, growth can be restrained by the resistances of 1.3225 and 1.3320.

Analysis are provided by InstaForex

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Post #: 433
RE: Wave Analysis by InstaForex - 3/25/2019 12:04:47 AM   
InstaForex Gertrude

 

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Control zones AUDUSD 03/25/19

In the middle of last week, the pair reached a monthly KZ, within which the weekly KZ of 0.9914-0.9895 is located. The emergence of a large demand indicates the interest of major players in keeping the course within the monthly volatility. The key zone of correction will be the NKZ 1/2 1.0008-0.9998, the test of which will make it possible for you to get favorable prices for the selling the instrument.

It is important to understand that purchases are corrective in nature, so it will require consolidating a long position when approaching the resistance zone and searching for a pattern in the direction of continuing the medium-term impulse downwards.

An alternative model will be developed if the current closure of the US session occurs above the level of 1.0008. This will open the way for the pair to increase this week and cancel the option of selling the instrument from the NKZ 1/2 zone. The probability of forming a reversal pattern is 30%, which makes it a support.

Daily KZ - daily control zone. The zone formed by important data from the futures market, which change several times a year.

Weekly KZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.

Monthly KZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

Analysis are provided by InstaForex


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Post #: 434
RE: Wave Analysis by InstaForex - 3/26/2019 12:26:36 AM   
InstaForex Gertrude

 

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Trading plan for EUR/USD for March 26, 2019

Technical outlook:
The EUR/USD pair has stalled below the 1.1340 levels after finding support at the 1.1273 levels last week. Please note that the prices should remain above the 1.1273 levels for bulls to remain in control. In a broader sense, the 1.1175 levels should be held if EUR/USD needs to rally towards the 1.16/1.17 levels going forward. If we consider the drop after breaking resistance at the 1.1448 levels, it is still in the wave 3, which is corrective. Also note that the Fibonacci 0.786 support comes in at the 1.1240 levels and a bullish bounce is possible. But the price breaking further below the 1.1240 levels would increase the probability of giving up support at the 1.1175 levels. From the trading point of view, it is safe to open long deals, but below the 1.1273 levels. The price action unfolding in the next 1-2 trading sessions would confirm whether EUR/USD is going to produce an extended rally towards the 1.1800 levels or not.

Trading plan:
Aggressive traders, remain long with a stop loss order below 1.1273, the target is open.
Conservative traders, remain flat for now.

Analysis are provided by InstaForex


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Post #: 435
RE: Wave Analysis by InstaForex - 3/26/2019 11:06:17 PM   
InstaForex Gertrude

 

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Forecast for GBP/USD on March 27, 2019

GBP/USD
Yesterday, the British pound made another attempt to exit above the signal level 1.3216, but without success. The marlin oscillator readings did not change on both graphs, they are neutral, signal lines develop along the border that separates the growth zone from the decline zone.

On the four-hour chart, the price is below the balance line and the MACD line. The immediate target - the MACD line of the daily chart (1.3020), remains relevant. Leaving prices for this target level opens the subsequent target at 1.2884 - the support line for the weekly price channel.

Analysis are provided by InstaForex


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Post #: 436
RE: Wave Analysis by InstaForex - 3/27/2019 11:11:57 PM   
InstaForex Gertrude

 

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Forecast for EUR/USD on March 28, 2019

EUR/USD This morning, the euro did not reach the target level of 1.2434, but it could still happen during the day, which does not break the convergence with the marlin oscillator on the four-hour scale. But regardless of this level's development, the price prepared the technical conditions for a small correction, in the range of 1.1275-1.1310. The upper limit of the range is due to the MACD line resistance on the four-hour chart.

Consolidating prices below 1.1234 opens a new target - 1.1155 (Fibonacci reaction level 110.0%

Analysis are provided by InstaForex


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RE: Wave Analysis by InstaForex - 3/29/2019 12:44:56 AM   
InstaForex Gertrude

 

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Forecast for GBP/USD on March 29, 2019

GBP/USD
Yesterday, the British pound fell 114 points. The target of 1.3035 was achieved - support for the MACD line of the daily scale. The price went below the red indicator line of balance, which means a shift in the overall trend downwards, the signal line of the marlin oscillator has penetrated deep into the decline territory.

On the four-hour chart, the price consolidated below the indicator lines of the balance and MACD, the marlin oscillator indicates the prospect of a further decline in price.

So, after the price goes below yesterday's low, which automatically means that the price goes under the support of the MACD line on a daily scale, a target of 1.2884 opens - supporting the embedded line of the price channel of the higher timeframe. With the overcoming of this support, it is possible for the price to further decline to the February 14 low - 1.2772.

Analysis are provided by InstaForex

(in reply to InstaForex Gertrude)
Post #: 438
RE: Wave Analysis by InstaForex - 3/31/2019 10:48:56 PM   
InstaForex Gertrude

 

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Joined: 5/16/2014
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EUR/CAD approaching resistance, potential drop!

EURCAD is approaching our first resistance at 1.5033 (horizontal overlap resistance, 61.8% Fibonacci extension , 23.6% Fibonacci retracement ) where a strong drop might occur to our major resistance at support at 1.4925 (horizontal swing low support). RSI (34) is also approaching resistance and ichimoku cloud is also showing signs of bearish pressure. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

Analysis are provided by InstaForex

(in reply to InstaForex Gertrude)
Post #: 439
RE: Wave Analysis by InstaForex - 4/1/2019 11:13:03 PM   
InstaForex Gertrude

 

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Joined: 5/16/2014
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NZD/USD approaching support, potential bounce!

NZDUSD is approaching our first support at 0.67556 (long term ascending support line, horizontal swing low support, 50% Fibonacci retracement , 100% Fibonacci extension ) where a strong bounce might occur above this level to our major resistance at 0.6866 (horizontal overlap resistance, 61.8% Fibonacci retracement ). Stochastic is also approaching support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

Analysis are provided by InstaForex

(in reply to InstaForex Gertrude)
Post #: 440
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