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Wave Analysis by InstaForex

This is a discussion on Wave Analysis by InstaForex within the Analytics and News forums, part of the Trading Forum category; Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of AUD/JPY Currency Pairs, Wednesday January 18, 2023 It can ...

      
   
  1. #1351
    Senior Member InstaForex Gertrude's Avatar
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    Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of AUD/JPY Currency Pairs, Wednesday January 18, 2023



    It can be seen clearly on the daily chart that the AUD/JPY currency pair is moving in a downward channel which means the bias is still bearish but currently it is corrected upwards especially since the emergence of the Bullish 123 pattern which was followed by the appearance of the Ross Hook where this level will be tested in the near future. tested by AUD/JPY so that if the 91.76 level is successfully penetrated above it then AUD/JPY in the next few days has the potential to appreciate up to the 93.50 level as the main target and the 95.03 level will be the next target to be tested but please pay attention to the emergence of the AUD Ascending Broadening Wedge pattern /JPY has the potential to fall back to its main bias (Bearish) where if the 86.97 level is penetrated below then all scenarios of an upward rally that have been described previously will become invalid.

    *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: Technical Analysis of Daily Price Movement of Silver Commodity Asset, Thursday January 19 2023.



    If we look at the 24,075-24,232 area level on the daily chart of commodity assets, Silver seems to function as a quite strong and significant resistance area because it is difficult for Silver to penetrate upwards where failure to penetrate above that level area creates Hagopian Rules conditions for this commodity asset that is in the channel. Bullish Pitchfork so that in the next few days Silver has the potential to fall corrected down to the level of the 22,010 - 21,400 area unless on the way down it suddenly Silver starts to rally again up significantly to break above the 24,485 level then the downside correction scenario described just now will become null and cancel by itself.

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  3. #1353
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    Forex Analysis & Reviews: Forecast for USD/JPY on January 20, 2023

    After the yen experienced increased volatility on Wednesday, the currency in question is moving sideways both yesterday and this morning as well. At the same time, traders are still bullish on the pair, the nearest target is 129.80, which is the line of the price channel on the higher chart. In case the quote continues to rise, the upper line of the descending green price channel is waiting around the 130.67 mark. Leaving the channel will open the next target at 133.60.



    The Marlin oscillator supports the price growth by rising in its own ascending channel. Crossing the signal line of the oscillator above the zero line will strengthen the price growth. On the four-hour chart, the Marlin oscillator is rising in the green zone, but growth is hampered by resistance of the balance indicator line. The MACD line is currently above the price, above the resistance of 129.80 on the daily chart.

    Also, considering the downtrend, we can assume other market obstacles to the pair's growth. With time, however, we still expect a full-fledged correction from the price decline from October 21.



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  4. #1354
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    Forex Analysis & Reviews: Forecast for EUR/USD on January 23, 2023

    The stock markets' brisk rise helped keep the euro from nearly an "imminent" breakthrough from the 9-month high. This morning, there is a gap. Even the signal line of the Marlin oscillator was above the divergence line.



    We don't know why the S&P 500 rallied by 1.89% on Friday, almost simultaneously (since Thursday) with pension funds contributions being cut to delay the "shutdown", as the US starts a hot period of disputes about the limit of the national debt.

    In the meantime, the euro is moving towards the target level of 1.0990. But the gap is open, and if it closes after crossing 1.0990 or if the price doesn't reach this mark, we don't know what will happen. I don't expect the euro to rise above 1.0990, we consider the given growth only as a temporary way out of the general strategy, which involves a decrease in risk appetite.

    On the four-hour chart, nothing interferes with growth, except for the window at the opening of the session. The price is above the indicator lines and the Marlin oscillator is in a good position for growth. The growth is expected to be short-term.



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  5. #1355
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    Forex Analysis & Reviews: Forecast for EUR/USD on January 24, 2023

    Investors are stubbornly buying stock market instruments and bringing confusion to the related currency market. Yesterday, the S&P 500 gained 1.19% and the euro gained 15 pips. There is a double divergence on the daily chart, but the market's desire to change this technical pattern is obvious. The 1.0990 target is getting closer.



    The eurozone business activity indicator for January will be released this afternoon, the forecast is 50.2 points against 49.8 in December. In the US, this indicator may also show growth (the forecast is 45.0 vs. 44.7 previously), but manufacturing PMI is expected to weaken to 46.0 from 46.2 in December, while in Germany the Manufacturing PMI is expected to rise to 47.9 from 47.1. The euro can take advantage of this divergence.

    On the four-hour chart, the upward trend is still present - the price is above the indicator lines and the Marlin is in a rising position. The closest signal to a downtrend will be when the price crosses the support of the MACD line, below 1.0824.



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  6. #1356
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    Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Wednesday January 25, 2023.



    On the 4th hour chart Crude Oil commodity asset seems that there is a discrepancy between the price movement and the Awesome Oscillator indicator which confirms that in the near future there will be a downward movement below the 79.66 level which is the Equal Low level so that if this level is successfully broken below then the 78.12 level will be the next target to be tested but if on the way down suddenly #CL turned up and penetrated the 82.62 level,it is very likely that the decline scenario that has been described will become invalid and cancel itself.

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  7. #1357
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    Forex Analysis & Reviews: Forecast for EUR/USD on January 27, 2023

    Yesterday, the euro failed to move towards the 1.0990 target and rolled back to Wednesday's initial positions. If today's U.S. consumer income/expenditure data is close to the forecast, the 1.0990 target will be much closer.



    Consumer spending for December is expected to be down 0.1%, while income is expected to be up 0.2% after a 0.4% gain in November.

    As before, the probability of forming a divergence between the price and the Marlin oscillator with the consequent reversal of the price into a medium-term decrease remains.



    On the four-hour chart, the price returned above the MACD indicator line after a brief (and false) move below it. The same false movement was made by the Marlin oscillator yesterday. Currently, there is growth. Expect the day to close above Wednesday's closing level.

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  8. #1358
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    Forex Analysis & Reviews: Technical Analysis of Daily price movement of GBP/USD Main Currency Pairs, Monday January 30, 2023



    If we look at the daily chart for the main GBP/USD currency pair, then there will be some interesting things:

    1. The appearance of the Double Top Pattern (Yellow circle).

    2. Deviations appear between price movements and the MACD indicator.

    3. The appearance of Bearish 123 pattern.

    Based on the three facts above then in a few days ahead Cable has the potential to go down trying to break below the level 1,2262 as the main target to be tested if this level managed to break then 1,2086 will be the next target to be tested while on the way to these levels is not a upward correction which exceeds the 1.2447 level because if this level is successfully penetrated upwards then it is very likely that the decline scenario described earlier will become invalid and automatically cancel itself.

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  9. #1359
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    Forex Analysis & Reviews: Forecast for AUD/USD on January 31, 2023

    The Australian dollar lost 47 points yesterday, it led losses, but technically there are no signs of a trend reversal yet. We just assume that the price broke off from the MACD indicator line, and now it is about to do that. There is a chance that the price will meet the MACD line near its intersection with the support level of 0.6873 (low of January 19, low of August 5, 2022).



    The aussie fell this morning due to weak retail sales in December, which were down 3.9% vs. the forecast of -0.3%. A little later, the Chinese manufacturing activity index for January of 50.1 points against December's 47.0 points stopped the AUD/USD decline.



    On the four-hour chart, the price settled below the MACD line. Also, the price overcame the support of the local low of January 25 (gray oval). The Marlin oscillator is in the area of the downtrend. We wait for the results of tomorrow's Federal Reserve meeting.

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    Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Gold Commodity Asset, Wednesday February 01 2023



    On the 4-hour chart, it can be seen that this commodity asset is being held back by the Resistance level at 1930.52 so that in the near future it has the potential to depreciate to the level of 1900.38 where this has also been confirmed by the MA 10 which is below the MA 20 plus price movements inside the channel which go down indicated that the sellers were dominating the previous buyers. However, please pay attention if on the way down, this commodity asset suddenly reverses up and breaks the level of 1934.50, then it is very likely that the downward scenario described earlier will cancel itself.

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

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