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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: Elliott wave analysis of GBP/JPY for September 12, 2022 GBP/JPY is getting absolutely nowhere. The most ...

      
   
  1. #1261
    Senior Member InstaForex Gertrude's Avatar
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    Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for September 12, 2022



    GBP/JPY is getting absolutely nowhere. The most likely pattern unfolding here is a descending triangle as wave B/. We have apparently seen a top at 166.31 for renewed downside pressure towards the triangle support line near 160.00. A break below here will confirm the next decline towards 154.41.

    Short-term a break below minor support at 164.19 will set the stage for a decline towards the triangle support line at 160.00. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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  2. #1262
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    Forex Analysis & Reviews: Forecast for GBP/USD on September 13, 2022

    Yesterday, the pound rose by 93 points, the resistance level of 1.1648 was overcome. Now the price can work out the resistance of the MACD indicator line (1.1755).



    At the same moment, the signal line of the Marlin Oscillator may turn down after touching the border with the growth area. In this case, we expect a decrease below 1.1525. This is the main scenario. Price exit above resistance 1.1815 opens the 1.2005 target.

    There is a mini-consolidation of the price after breaking above the level of 1.1648 on the four-hour chart. Probably, this is preparation for working out 1.1755. In any case, whether this residual growth takes place or not, after consolidating under 1.1648, the target 1.1525 will open. The MACD line is approaching this level.



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

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  3. #1263
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    Forex Analysis & Reviews: NZDUSD Potential for Bearish Drop | 14th September 2022



    On the H4, with the price moving within the descending channel and below ichimoku cloud, we have a bearish bias that the price may drop from the 1st support at 0.59960, which is in line with the swing low and 61.8% fibonacci projection to the 2nd support at 0.59062, where the 100% fibonacci projection is. Alternatively, the price may rise to the 1st resistance at 0.61564, which is in line with the overlap resistance, 61.8% fibonacci retracement and 38.2% fibonacci retracement.

    Trading Recommendation
    Entry: 0.59960
    Reason for Entry:Swing low and 61.8% fibonacci projection
    Take Profit: 0.59062
    Reason for Take Profit: 100% fibonacci projection
    Stop Loss: 0.61564
    Reason for Stop Loss:
    Overlap resistance, 61.8% fibonacci retracement and 38.2% fibonacci retracement

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

    Analysis are provided by InstaForex.

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  4. #1264
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    Forex Analysis & Reviews: Forecast for EUR/USD on September 15, 2022

    As the market cooled down after an exciting Tuesday, the euro spent Wednesday in consolidation between the target levels of 1.0032 and 0.9950. The price did not even try to fight the resistance, which was also strengthened by the MACD indicator line of the daily scale.



    The signal line of the Marlin Oscillator turned down without an attempt to work out the border with the growth territory. This is a good sign of a further decline, which will be confirmed after the price breaks below the 0.9950 support. The nearest target is 0.9850, followed by 0.9752.



    The price consolidated under the MACD indicator line and balance lines (red) on the four-hour chart. Marlin shows intention to continue the decline after yesterday's own consolidation. The situation is completely downward.

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

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  5. #1265
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    Forex Analysis & Reviews: AUDUSD Potential for Bearish Drop | 16th September 2022



    On the H4, with the price moving within the descending channel and below ichimoku cloud, we have a bearish bias that the price may drop to the 1st support at 0.67105, which is in line with the swing low. If the 1st support level is broken, the 2nd support could be at 0.66122, where the 100% fibonacci projection is. Alternatively, the price may rise to the 1st resistance at 0.67717, which is in line with the 38.2% fibonacci retracement and overlap resistance.

    Trading Recommendation
    Entry: 0.67105
    Reason for Entry: Swing low
    Take Profit: 0.66122
    Reason for Take Profit: 100% fibonacci projection
    Stop Loss: 0.67717
    Reason for Stop Loss:
    38.2% fibonacci retracement and overlap resistance

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

    Analysis are provided by InstaForex.

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  6. #1266
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    Forex Analysis & Reviews: Forecast for GBP/USD on September 19, 2022

    GBP/USD hit the the target level of 1.1385 on Friday. Today is a holiday in the UK, so there is little chance that a similar scenario will be repeated. But if it happens, the pair will reach the target level of 1.1305.



    So far, the quote is nearing the area of the Marlin oscillator, which may result in a rise to 1.1648 or a long correction. If a convergence does not happen, the pair will go under 1.1305 and head towards 1.1250, then climb to 1.083.



    In the four-hour (H4) chart, the pair is under the balance and MACD lines, which suggests that a correction to 1.1525 is still possible. And if the quote stays above the MACD line, the pair will grow further to 1.1648. But for now, the nearest target is a consolidation under 1.1385.

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

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  7. #1267
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    Forex Analysis & Reviews: Forecast for EUR/USD on September 20, 2022

    The euro rose slightly on Monday, supporting the strong resistance of the target level of 1.0032 and the MACD indicator line coinciding with it. This morning the resistance was pierced, but it is unlikely that speculators will decide to develop the movement before tomorrow's Federal Reserve meeting.



    But the Fed meeting should be "soft" so that the counter-dollar market shifts to growth, and we do not expect a soft meeting, since the rate will be raised by 0.75%, according to the FOMC members themselves, and the committee's forecasts on inflation and future rates in light of the current situation is unlikely to be weak.

    We are waiting for the price to reverse from the achieved resistance to the nearest support at 0.9950. Next, we are waiting for the price to decline to the support of 0.9850. The Marlin Oscillator has penetrated into the growth zone, but this movement seems to be false so far.



    The price is trying to consolidate above 1.0032 on the four-hour chart, the Marlin Oscillator is in the positive area. Formally, the technical situation favors the euro's further growth, but before the Fed meeting, we will refrain from both buying and premature selling. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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  8. #1268
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    Forex Analysis & Reviews: Forecast for USD/JPY on September 21, 2022

    On Tuesday, the USD/JPY pair added 54 points amid an overall strengthening of the dollar by 0.53%. The US stock market lost more than 1% of capitalization yesterday (S&P 500 -1.13%, Russell 2000 -1.36%), but investors are still guided by the situation with the dollar. We believe that after the hype subsides after the Federal Reserve's rate hike, the yen may strengthen under the pressure of stock indices.



    While we are waiting for the price to rise to the nearest target of 145.10 - to the embedded line of the global price channel, if it is overcome, the growth will continue to the next line at 147.10. A price divergence with the Marlin Oscillator is possible in the area of the second target. This will be a sign of a trend reversal. The price is consolidating under the MACD line (143.83) on the four-hour chart. Consolidating above it, as an initial success, will push the price to storm 145.10. The Marlin Oscillator is moving sideways in the positive area. We are waiting for the Fed's decision and the dollar's growth against the yen



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

    Analysis are provided by InstaForex.

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  9. #1269
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    Forex Analysis & Reviews: Forecast for EUR/USD on September 22, 2022

    After the euro's decline by 134 points yesterday, the price continues to decline under the target level of 0.9850 in today's Asian session. The inertial decline may continue to the level of 0.9752, from which we expect a reversal into a correction.



    Correction from 0.9752 on the technical side may be due to the emerging extended convergence with the Marlin Oscillator. It also appears on the weekly chart. If the price still manages to consolidate under 0.9752, then the euro is waiting for the underlying levels of 0.9692 and 0.9625.

    In the long term, we look at the euro's fall to the levels of the winter 2002 area, to the 0.8600 area, which would correspond to a Fibonacci reaction level of 200.0% on the monthly scale chart.



    The price has consolidated below 0.9850 on the 4-hour chart, Marlin is in the negative area, but is already making the first attempts to slow down this decline. We are waiting for the price at the target level of 0.9752.

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

    Analysis are provided by InstaForex.

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  10. #1270
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    Forex Analysis & Reviews: Forecast for EUR/USD on September 23, 2022

    Yesterday, the euro closed the day at the opening level. The closure occurred under the resistance of 0.9850 and formally this means consolidating under the level. But since there is practically no body of the candle, the consolidation itself is formless, weak. At the same time, convergence is also formed with the Marlin Oscillator.



    A slight increase in the price is visible this morning, with the intention to go above 0.9850. Consolidating above the level opens the way to 0.9950. It is possible to continue growth to the 1.0032 level. All this growth will occur in the general direction of the downward trend. Upon completion of the correction, a new wave of medium-term decline will begin to develop. In this case, the key level of 0.9752 that we noted will be overcome with more energy, the price will try to settle at 0.9692 and go below (0.9625).



    The strong growth of the Marlin Oscillator indicates the beginning of the correction on the four-hour chart. Consolidating above 0.9850, and with it the transition of Marlin to a positive area will create a technical basis for further growth to the target level of 0.9950. A little below the 1.0032 level is the MACD line. If the price rises, this line will turn up, press against the linear level, strengthen it and create tension by the end of the correction. It will also turn out that in the area of 1.0032, the MACD lines of both scales will coincide, which will also strengthen the resistance. A puncture of this level is possible to 1.0051, to the high of September 20, but this puncture will already be false. This is the main scenario. An alternative scenario allows the price to rise to the upper area of a prolonged and broad consolidation of August-September at 1.0150.

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

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