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Forex Analysis & Reviews: Forecast for GBP/USD on March 8, 2022

GBP/USD is falling very sharply. It declined by three figures over the past three days, with the price hitting 1.3115 on Monday. A further drop will bring the pair to 1.2853-1.2900, which are the November 2020 and December 2019 lows. A rebound seems impossible at the moment because yesterday's trading volumes were close to the yearly high, which is a clear signal for medium-term sell-offs.



The Marlin oscillator also formed a convergence in the four-hour chart, so it is likely that many traders will take a break today and then continue their efforts for a deeper decline.



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Forex Analysis & Reviews: Elliott wave analysis of Gold for March 9, 2022



Gold is currently testing the former all-time high at 2,074. It should just be a matter of time before this resistance is broken for a continuation higher towards 2,400 and ultimately higher towards our long-term target at 2,700.

Short-term we need to allow for some consolidation either just below the all-time high or just above the all-time high. If the consolidation takes place just below the all-time high at 2,074, we could see a correction towards 1,971 before the next rally higher towards 2,400 and 2,700.

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

EUR/USD gained 175 pips on Wednesday ahead of the meeting between Presidents Zelensky and Putin, the ensuing ceasefire and Ukraine's withdrawn bid for NATO membership. It hit 1.1060, but hesitated on it because the ECB will have a meeting on monetary policy today. Many expect the central bank to confirm its commitment to a soft policy, and if that happens, euro's downtrend will most likely recover, with the first target at 1.0825.



The pair is also bullish in the four-hour chart, signaled by the quote moving above the indicator lines. The Marlin oscillator is in the positive area, but if the pair dips under the MACD line, below 1.1000, then the quote will begin to decline again.



The breakdown of 1.1095 will trigger uncertainty because there are many weak historical levels that may cause increased volatility.

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Forex Analysis & Reviews: Forecast for GBP/USD on March 11, 2022

GBP/USD was the only currency pair that did not make false movements yesterday following the meeting of the European Central Bank. It fell by 95 points, clearly defining the targets 1.2853-1.2900.



In the four-hour chart, the pair went under 1.3115 this morning, with the Marlin oscillator going into the bearish area.



Most likely, it would continue dipping today as the data on the UK trade balance for January will be released, and many expect it to show a decrease from 12.3 billion to 12.6 billion.

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Forex Analysis & Reviews: Elliott wave analysis of Silver for March 14, 2022



Silver has activated the double bottom for a rally towards the double bottom target at 29.28 and likely even closer to the extension target at 31.70. Longer-term a break above the former top at 30 should trigger a continuation higher towards the all-time higher near 50.00.

Support remains at 25.40 but even a small break below here,

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Forex Analysis & Reviews: Forecast for AUD/USD on March 15, 2022

The Australian dollar confirmed our yesterday's thesis about the prospect of a rapid decline as a recovery of balance with other world currencies after its previous four-month growth outstripping the market. The aussie's fall from yesterday was 100 points, the MACD line of the daily scale was reached. This morning, the price continued its decline with overcoming this support line. The Marlin Oscillator is in the downward trend zone. The 0.7065 target is open.



The price is completely in a downward position on the four-hour chart - it is falling below the indicator lines, the MACD line itself has turned to decline. The Marlin Oscillator may soon enter the oversold zone, but under the pressure of fundamental factors, it may end up there for several days.



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Forex Analysis & Reviews: Trading plan for EURUSD for March 16, 2022



Technical outlook:
EURUSD continues to consolidate between 1.0900 and 1.1000 levels within a triangle, waiting for a breakout. Today's event risk might trigger the necessary technical price action, which is favored above 1.1120 mark. Bulls remain poised to keep prices above 1.0800 to keep the structure intact going forward.

.EURUSD faces immediate price resistance around 1.1500 mark as seen on the daily chart. A break above that mark will confirm potential trend reveral and that bulls rew going to remain in control. On the flip side, a break below 1.0800 interim support will open the door t test 1.0750 handle before finding support again.

EURUSD had rallied earlier between 1.0536 and 1.2350 levels carving a meaningful upswing at a larger degree. The subsequent drop since then has been corrective and has dropped through fibonacci 0.618 retracement around 1.0800 mark. If the above structure holds well, bulls will remain in control pushing through 1.1500 levels near term.

Trading plan:
Potential rally through 1.1500 against 1.0700

Good luck!

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Forex Analysis & Reviews: Trading plan for US dollar index for March 17, 2022



Technical outlook:
The US dollar index has dropped through 98.40 intraday today after carving a lower high around 99.30 levels early this week. The index has also carved another Evening Star bearish candlestick pattern on the daily chart as expected. Ideally, prices should continue to drag lower from here and a drop below 97.70 will accelerate further.

Furthermore, if the US dollar index bears are successful in holding prices below 99.45 mark, we might withess a steep fall towards 94.50 in the next few trading sessions. A break there will also confirm that bears are back in control and are here to stay for long. On the flip side, if a more complex corrective structure unfolds, prices might print above 99.30 before finding resistance.

The US dollar had earlier carved a meaningful larger degree downswing by dropping from 104.00 through 89.20 levels. The entire drop has now been retraced through its fibonacci 0.618 level seen around 99.45 mark. If the above structure holds well, bears will remain inclined to drag prices below 89.20 to complete the structure.

Trading plan:
Potential drop through 94.50 against 100.00
Good luck!

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Forex Analysis & Reviews: Forecast for GBP/USD on March 18, 2022

Yesterday, the Bank of England expectedly raised the rate by a quarter of a point from 0.50% to 0.75%. Despite the favorable circumstances for the pound's growth - the dollar index fell by 0.37% yesterday, the pound still did not grow, it traded in a wide range of 123 points. But at the same time, it can be noted that the upper shadow of the daily candle exactly fulfilled the target level of 1.3200, which can indirectly confirm the effectiveness of the levels 1.3265 and 1.3323 located above. The Marlin Oscillator is growing, but it is still in the negative area, which probably explains the not very confident price growth.



On the four-hour chart, the current price situation in the range of target levels can be depicted with a small triangle. This is a sign of further price movement in an upward direction. The Marlin Oscillator also consolidated in the form of a small triangle. We are waiting for the quote at the target level of 1.3265.



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Forex Analysis & Reviews: Forecast for GBP/USD on March 21, 2022

The British pound is consolidating in the range of target levels 1.3110-1.3210. If we assume that the pound's growth since March 15 is a correction from a strong previous fall, then its potential is far from exhausted, it can continue to the MACD line, which currently corresponds to a 50% correction level. Slow price growth will allow the MACD line to drop to the 38.2% correction level, which is close to the target level of 1.3270. Therefore, with the release of the price above the nearest resistance at 1.3210, we can expect continued steady growth to 1.3270. Price drop below 1.3110 will bring it back to the downside.



On the H4 chart, the situation is ascending: the price is developing along the balance and MACD indicator lines, the Marlin Oscillator is falling, being led in the current situation, but has not yet left the territory of the rising trend. We are waiting for the continuation of consolidation in the indicated hundred-point range and follow the choice of the price of the further direction. The probability of growth is 55%.



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