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Forex Analysis & Reviews: Forecast for EUR/USD on January 7, 2022

The euro slightly fell last Thursday, consolidating ahead of today's US employment data. The forecast is very optimistic: 400,000 new jobs are expected in the non-agricultural sector in December, the unemployment rate may decrease from 4.2% to 4.1%.



The price settled below the MACD indicator line on the daily chart, the Marlin Oscillator is still hesitating to cross the border with the bears' territory. This will probably happen if the data is not very different from the forecast for the worse - weekly applications for unemployment benefits in the last month came out flat and, we believe, non-farms will also be in the forecast area. As a result, we expect the euro to decline in the next few days to the target level of 1.1170 - to the support area of June 2020.



The price also settled below the MACD line on the four-hour scale, the Marlin Oscillator is already in the negative area. There is pressure on the price, we are waiting for the resolution of the situation with the release of news.

The alternative scenario assumes the price settling above the level of 1.1310 and further growth to the upper border of the 1.5-month range at 1.1222-1.1383.

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

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Forex Analysis & Reviews: Forecast for EUR/USD on January 10, 2022

Last Friday, after optimistic data on employment in the US, the euro grew by 64 points by the end of the day, on volumes smaller than on Tuesday-Thursday. The euro's growth occurred against the backdrop of rising yields on government bonds and a fall in the stock market. In general, a picture is being created of the withdrawal of capital from US assets, it is likely that there is a reduction in carry-trade operations, and if this is the case, then the euro's growth will be short-term.



Today's opening of the market with a falling gap shows investors' uncertainty about further purchases of the European currency. The euro bulls have two technical levels: 1.1383 - the upper limit of the free-roaming range, 1.1415 - the high of June 2019 and June 2020. We can only consider a medium-term growth of the EUR/USD pair to the target level of 1.1570 after the price breaks above 1.1415. But now we can speak of a decline only after the price returns under the MACD indicator line on the daily scale, below 1.1312.



On the H4 chart, the price is in a growing position - it is above both indicator lines. Growth is supported by the Marlin Oscillator, which is in the positive area. There are no noticeable barriers to the price on the way to 1.1383 (1.1415), especially if today's data on employment in the euro area meet expectations (the forecast for unemployment for November 7.2% versus 7.3% in October), but the price may also return to its original positions Friday on new data on the epidemic, if they show deterioration. We are waiting for the development of events.

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Forex Analysis & Reviews: Forecast for EUR/USD on January 11, 2022

Data on unemployment in the euro area for November was published on Monday, they were in line with the forecast - 7.2% against 7.3% in October. But during the day, stock indices fell across the eurozone and the US, and only recovered slightly closer to the close. The euro followed these trends and eventually closed the day with a black candle, but above the MACD indicator line on the daily chart, which it had already overcome.



In general, the technical situation does not change; the price is between the support at 1.1310 (MACD line) and the resistances at 1.1383 and slightly above 1.1415. The 1.1383 level is the upper border of the one and a half month sideways trend, the 1.1415 level is a signal for further price growth to 1.1570. Consolidating below 1.1310 will give it the opportunity to first work out the lower border of the range (1.1222), and then attack the support at 1.1170.



On the four-hour scale, at first glance, the situation seems to be ascending - the price is above both indicator lines and the Marlin Oscillator is in the growing trend zone, but this situation has been changing regularly for a month and a half. We are waiting for the price to settle above 1.1383, or below 1.1310 on a daily scale.

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Forex Analysis & Reviews: Forecast for EUR/USD on January 12, 2022

On Tuesday, the following happened: from the opening of the day, the euro's price increased by 30 points, then it fell to the MACD line of the daily scale (-40 p) and, rebounding from it, closed the day with an increase of 43 points. The rebound from the MACD line indicates the desire to reach a target level, it can be either the nearest 1.1383 or just above 1.1415. The Marlin Oscillator is close to divergence with the price, and this moment indicates a probable overcoming of the signal level of 1.1383, and also a price reversal without reaching the target 1.1415.



But if the price can settle above 1.1415, then the divergence with the oscillator will not take place and the euro will continue to strengthen in the medium term (target 1.1570).



The price is rising across all indicators on the four-hour chart, but Marlin is growing at a slower pace. Probably, a technical basis is being prepared for a downward price reversal. This is the main scenario.

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

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for January 17, 2022



The corrective consolidation is now complete and the underlying impulsive rally higher to our first target level of 160.54 is taking place. If bulls assert strength, GBP/JPY may go higher to our second target level of 163.39.

Keep the focus on the upside and a break above minor resistance at 157.69 for a continuation towards 160.54 and maybe even higher.

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

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for EUR/USD on January 18, 2022

Yesterday, the quote of the European currency did not break down from the target level of 1.1415 (the June 2019 high), lingered on it, and this morning it shows the intention to rise with the Marlin Oscillator turning up on the daily scale chart. The main scenario - growth to the target level of 1.1570 (the January 2019 high) has been preserved.



The price was supported by the balance indicator line (red) on the four-hour chart. The Marlin Oscillator is moving sideways. It can enter the positive area with the price crossing yesterday's high (1.1434). Thus, the level of 1.1434 becomes a confirming level of further growth. Consolidating below the MACD line, below 1.1386, may push the price to the daily MACD line to the area of 1.1310.



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Forex Analysis & Reviews: Forecast for EUR/USD on January 19, 2022

The euro fell by 85 points on Tuesday and came close to the support of the MACD indicator line on the daily chart (1.1305). Crossing this support will mean opening the way to the target of 1.1170 and below (1.1050). The Marlin Oscillator has reached the zero line - the border with the territory of the downward trend, which, along with the proximity of the price to the MACD line, indicates a high probability of an upward reversal - to overcome the target level of 1.1415 and further advance to 1.1570. Moreover, today the price may not choose a further direction, since after yesterday's strong fall, there is a high probability of consolidation. The 1.1305 level is near the August 2018 low, that is, it is quite strong.



On the four-hour chart, the price is below both indicator lines, the Marlin Oscillator shows a weak desire to reverse. We are waiting for the formation of consolidation before the support of 1.1305 and the subsequent choice by the European currency of the further medium-term direction.



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Forex Analysis & Reviews: Forecast for EUR/USD on January 20, 2022

Yesterday, the euro did not reach the support of the MACD daily indicator line (1.1300). The upward movement from yesterday and this morning looks more like a reversal to the upside than a consolidation before support. The signal line of the Marlin Oscillator turned up from its own zero line, from the border with the downward trend. All these signs suggest that the euro intends to overcome the target level of 1.1415 and continue to grow towards 1.1570.



The departure of the price under the MACD line, under the mark of 1.1300 will naturally open the door to a further decrease to the level of 1.1170.



On the four-hour chart, the Marlin Oscillator is in a hurry to leave the negative territory, the price is approaching the MACD indicator line at 1.1387, the transition above which visually coincides with Marlin's transition to the positive area. Such a synchronous signal will increase the growth potential.

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Forex Analysis & Reviews: Forecast for EUR/USD on January 21, 2022

Yesterday, the euro was hit by a sell-off as investors withdrew from risky assets. The US stock index S&P 500 fell by 1.10%. The price has reached the support of the MACD indicator line on the daily scale chart. The oscillator is in the downward trend zone. But, despite the increased pressure on the quotes of the single currency, the question of an upward reversal looks sharper than yesterday, since touching the MACD line from above looks like testing it before medium-term growth. The first growth target is 1.1415, then 1.1570. Consolidating below the MACD line will open a bearish target of 1.1170.



The price converges with the Marlin Oscillator on the four-hour chart. Actually, this circumstance is the main sign of a price reversal to the upside. But the euro remains under pressure, you need to wait at least two more white candles for the divergence to take place, so that there is a visual price reversal. In the meantime, we are waiting for the development of the situation.



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Forex Analysis & Reviews: Forecast for EUR/USD on January 24, 2022

Last Friday, the euro bounced up from MACD's indicator line, blocking Thursday's decline. The probability of the price rising to the nearest target level 1.1415 (June 2019 high) has slightly increased.



The signal line of the Marlin Oscillator went sideways along the neutral zero line. Consolidation is not long, so there may well be a reversal to the upside. Long-term horizontal movements of the oscillator after the signal line exits the overbought zone mainly precede the subsequent decline.

Consolidating below 1.1300 opens the way for the price to 1.1170 (June 2020 support).



The price converged with the Marlin Oscillator on the four-hour chart. The exit above Friday's high (1.1360) will be a signal to attack the price of the MACD line (1.1385). After the price crosses the indicated level, it is likely that the price will consolidate to break through 1.1415. By this time, the Federal Reserve will have announced its decision on monetary policy.

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