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This is a discussion on Wave Analysis by InstaForex within the Analytics and News forums, part of the Trading Forum category; Forex Analysis & Reviews: UKOIL facing bearish pressure, drop incoming! UKOIL is holding below 1st resistance at 79.28 in line ...

      
   
  1. #1021
    Senior Member InstaForex Gertrude's Avatar
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    Forex Analysis & Reviews: UKOIL facing bearish pressure, drop incoming!



    UKOIL is holding below 1st resistance at 79.28 in line with 61.8 Fibonacci retracement and 38.2% Fibonacci extension and may bearish towards 1st support at 76.10 in line 61.8% Fibonacci retracement and 161.8% Fibonacci extension . Our bearish is further supported by how MACD is showing a bearish signal where the signal line is above the MACD line. Otherwise price may bullish towards 2nd resistance at 80.72 in line with Horizontal swing high and 61.8% Fibonacci extension.

    Trading Recommendation
    Entry: 79.28
    Reason for Entry:
    61.8 Fibonacci retracement and 38.2% Fibonacci extension
    Take Profit: 76.10
    Reason for Take Profit:
    61.8% Fibonacci retracement and 161.8% Fibonacci extension
    Stop Loss: 80.72
    Reason for Stop Loss:
    Horizontal swing high and 61.8% Fibonacci extension.

    Analysis are provided byInstaForex.
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  2. #1022
    Senior Member InstaForex Gertrude's Avatar
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    Forex Analysis & Reviews: Elliott wave analysis of Ripple for October 4, 2021



    Ripple has completed sub-wave ii near 0.8560. We are looking for an upside acceleration towards 2.3227 in sub-wave iii where a sideways consolidation is expected.

    In the long term, upward movement to 3.3170 and higher is expected. In the short term, a break above minor resistance at 1.1300 and ideally above resistance at 1.2400 may occur. If so, the digital asset may rise to 1.4160, 1.9665, and 3.3170.

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  3. #1023
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    Forex Analysis & Reviews: USDCHF bullish continuation | 5th Oct 2021



    Price is holding above the ascending trendline support, signifying a bullish momentum. We can expect the price to push up from the pivot level in line with 23.6% Fibonacci retracement towards the take profit level in line with 61.8% Fibonacci projection and 61.8% Fibonacci retracement. Our bullish bias is further supported by the stochastic indicator where the %K line bounced at the support level.

    Trading Recommendation
    Entry: 0.92572
    Reason for Entry:
    23.6% Fibonacci Retracement
    Take Profit: 0.93326
    Reason for Take Profit:
    61.8% Fibonacci Retracement and 61.8% Fibonacci projection
    Stop Loss: 0.92329
    Reason for Stop Loss:
    127.2% Fibonacci projection

    Analysis are provided byInstaForex.
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  4. #1024
    Senior Member InstaForex Gertrude's Avatar
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    Forex Analysis & Reviews: EUR/USD pair has not implemented growth yet

    A lack of major support from the ECB is indicated by today's Asian trading session. If the situation does not change, then the probability of updating the monthly low will increase to 80%.

    When making a trading plan, it is worth noting that yesterday's closing level may become a determining resistance if the European session opens below the level of 1.1596. Trading in a downward direction is regaining its status as the priority. So, one must get ready for another bearish momentum. The first downward target is to update the monthly low. The main target is the Weekly Control Zone of 1.1540-1.1523.



    This pattern will be the main one if the activity during the European session allows the price to stay below the level of 1.1596. The task is to join stronger players who will buy the euro at more favorable prices at a monthly low and below.

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  5. #1025
    Senior Member InstaForex Gertrude's Avatar
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    Forex Analysis & Reviews: Elliott wave analysis for Natural Gas for October 7, 2021



    Natural gas article from September 15

    Yesterday, natural gas peaked at 6.46. It is time for a correction towards 5.26 and maybe even closer to 4.75 before the natural gas can take off again to way above the peak at 6.46.

    Inflation may weigh on the economic recovery. Once the correction in crude oil and natural gas is completed and prices rise to new highs, it will become much more painful to the global economies.

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  6. #1026
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    Forex Analysis & Reviews: AUDUSD bearish continuation | 8th Oct 2021



    Price is holding below the descending trendline resistance, signifying a bearish momentum. We can expect the price to continue to push down towards the 1st Support in line with 61.8% Fibonacci projection and 61.8% Fibonacci Retracement. Our bearish support is further supported by the stochastic indicator where the %K line drops from the resistance level.

    Trading Recommendation
    Entry: 0.73249
    Reason for Entry:
    50% Fibonacci retracement and Graphical overlap resistance
    Take Profit: 0.72225
    Reason for Take Profit:
    61.8% Fibonacci Retracement and 61.8% Fibonacci projection
    Stop Loss: 0.74078
    Reason for Stop Loss:
    61.8% Fibonacci projection and 78.6% Fibonacci retracement

    Analysis are provided byInstaForex.
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  7. #1027
    Senior Member InstaForex Gertrude's Avatar
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    Forex Analysis & Reviews: AUDUSD bearish continuation | 11th Oct 2021



    Price is holding below the descending trendline resistance, signifying a bearish momentum. We can expect the price to continue to push down towards the 1st Support in line with 78.6% Fibonacci projection and 61.8% Fibonacci Retracement. Our bearish support is further supported by the stochastic indicator where the %K line drops from the resistance level.

    Trading Recommendation
    Entry: 0.73454
    Reason for Entry:
    61.8% Fibonacci retracement and 100% Fibonacci Projection
    Take Profit: 0.72230
    Reason for Take Profit:
    78.6% Fibonacci projection and 61.8% Fibonacci Retracement
    Stop Loss: 0.74127
    Reason for Stop Loss:
    61.8% Fibonacci projection and 78.6% Fibonacci retracement

    Analysis are provided byInstaForex.
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  8. #1028
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    Forex Analysis & Reviews: Trading plan for EUR/USD on October 12, 2021



    TECHNICAL OUTLOOK:
    EUR/USD remained subdued in the past two trading sessions, but managed to hold above the 1.1530 intermediate support. The currency pair could be preparing to produce a counter trend rally, extending towards the 1.1900-1.2000 zone in the near term. Even if another low is print below the 1.1530 mark, downside risk remains limited for now.

    EUR/USD earlier dropped from the 1.2266 highs through the 1.1530 levels, carving a meaningful bearish boundary. Bulls might be poised to retrace the above mentioned drop and push the price towards the 1.1900-1.2000 zone, before it reverses again. Only a consistent break below 1.1530 would drag the price further towards the 1.1300 mark; probability remains grim though.

    EUR/USD is seen to be trading around the 1.1562 levels at this point of writing and is preparing to produce a meaningful corrective rally in the near term. The immediate price resistance is seen at 1.1640, while the interim support is around the 1.1500 levels. A break above 1.1640 will confirm that bulls are back in control.

    TRADING PLAN:
    Potential rally towards 1.1900-1.2000 against 1.1450 Good luck!

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  9. #1029
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    Forex Analysis & Reviews: USDJPY short-term bearish pressure | 13th Oct 2021



    We can see that price is abiding by the ascending trendline and we can see price has reached the 1st resistance hence, we can expect the price to reverse back down to the 1st Support in line with the 50% Fibonacci retracement , 100% Fibonacci projection and ascending trendline support. Our short-term bearish bias is further supported by the RSI indicator where it touched the resistance level and dropped.

    Trading Recommendation
    Entry: 113.827 Reason for Entry:
    100% Fibonacci Projection
    Take Profit: 112.146
    Reason for Take Profit:
    100% Fibonacci projection and 50% Fibonacci Retracement
    Stop Loss: 114.581
    Reason for Stop Loss:
    Horizontal swing high, 127.2% Fibonacci projection

    Analysis are provided byInstaForex.
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    Learn more about InstaForex Company at http://instaforex.com

  10. #1030
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    Forex Analysis & Reviews: Elliott wave analysis of gold for October 14, 2021



    Gold is ready to challenge minor resistance at 1,834 again. It is likely to break higher towards key resistance at 1,917. A break above here will finally confirm that the triangle consolidation we have witnessed in the last 13 months has been completed and the next impulsive rally towards 2,344 is in motion.

    In the short term, we see support at 1,750 that ideally will be able to act as a floor for the rally to and above minor resistance at 1,834.

    Analysis are provided byInstaForex.
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