Wave Analysis by InstaForex

**InstaForex Gertrude** · 03-10-2020, 05:36 AM

Forecast for EUR/USD on March 10, 2020

EUR/USD
In the last three weeks of growth, the euro corrected 38.2% of the fall from February 2018 to February 2020. Today, in the Asian session, the euro's fall is more than 70 points, which shows the clear intention of the price to close the gap on Monday. Next, we are waiting for the testing of the Fibonacci level at the price of 1.1200, which coincides with the top on December 13 (marked with a tick).

Fixing the price below this level will direct the price to the support of the MACD line (1.1085). Fixing the price below it will confirm the market's intention to continue selling euros.

As seen on the four-hour chart, the signal line of the Marlin oscillator went down sharply. This is a sign of the market's intention to move down. The support for the MACD line at 1.1200 coincides with the 23.6% Fibonacci level on the higher-scale chart. Accordingly, the level is strong and requires increased care. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Analysis are provided byInstaForex.

**InstaForex Gertrude** · 03-11-2020, 04:01 AM

How is coronavirus spreading around the planet? The US, Italy, Spain, China and Iran are at high risk

The Chinese pneumonia virus COVID-2019 has "captured" more than 100 countries around the world. More than 105,000 people are infected, mostly in China. The largest number of infected and deaths is in the "hotbed" of infection - China. Apart from China, Italy has been the most affected at the moment, with more than 6,000 cases of infection. More than 200 people were killed. The entire country is under quarantine. Schools and cinemas have been closed, all sporting events have been canceled, and any events where a large number of people may gather are prohibited. Some regions with the highest number of cases are quarantined. Citizens are not allowed to leave their homes without good reason. According to the current plan, such measures have been taken until April 3. No one knows what will happen after April 3. Everything will depend on whether it is possible to stop the spread of infection in the country. The Italian authorities decided to involve an additional 20,000 doctors and nurses in the fight against the virus. The main thing now is to stop the infection. It is noted that about 600 people are in intensive care, but about 600 have fully recovered. The average age of those who died from the virus is 81 years. It follows that first of all deaths are recorded in the elderly. People with weak, due to age-related reasons, immunity and health. 80% of people who died from the virus had other diseases. Thus, on the example of Italy, we can conclude that the virus is not fatal, but can lead to a fatal outcome if the patient has poor health. Thus, the elderly and people with weak immune systems are primarily at risk.

About 3000 cases of infection have been recorded in the UK, five have died. All of them were elderly people with poor health. All who contacted the dead are isolated, including medical staff. The United States also recorded several hundred cases of the disease (about 700). Most are in the New York State, where a state of emergency has already been declared. Several people died. New York Governor Andrew Cuomo believes mass quarantine is the best way to slow the spread of infection. Washington state has also been one of the most infected. The state recorded about 70 cases of the disease. As in many other countries, those who die from the virus are elderly people. In addition, a large number of patients were recorded in Iran - about 6,000. 145 people died. At the same time, firstly, representatives of the medical sphere believe that the real numbers can be much higher, and secondly, two representatives of the Parliament have already died from the coronavirus.

Meanwhile, panic is brewing in countries with the highest incidence of the disease. Thank God that so far this word only refers to the desire of people to stock up on all necessary products and not to leave the house without unnecessary need. Therefore, a shortage of certain foods may occur. For example, in the UK, Secretary of Health Matt Hancock urged people not to buy more than they needed, assuring that there was enough food for everyone. The minister also assured that he works with supermarkets in the direction of delivering food and necessary goods to the home in case people have to isolate themselves. However, representatives of UK supermarkets argue that the demand for the most necessary food products is "going wild" and cast doubt on the fact that the authorities will be able to keep the situation under control and provide all citizens with food and basic necessities. One of the directors of large supermarket chains even stated that there were no contacts with the government.

Quite unexpectedly, Spain took the lead in the number of cases, where according to the latest data, the number of infected exceeded 1200. According to the Minister of Health of Spain, Salvador Illa, the situation with coronavirus in the country has significantly worsened in recent days. Most infections have been reported in Madrid. Most of the cases are elderly people in nursing homes and employees of these homes. Two weeks quarantine has also been announced in Madrid with the closure of all schools, universities and kindergartens.

Analysis are provided byInstaForex.

**InstaForex Gertrude** · 03-12-2020, 04:57 AM

Forecast for GBP/USD on March 12, 2020

GBP/USD
The Bank of England lowered its key rate from 0.75% to 0.25% on Wednesday. The pound's initial reaction was to fall by 100 points, but then there was an increase of 150 points, and the day was closed with a loss of 65 points. Volatility in the markets has returned, but the overall trend for strengthening the dollar remains, because the situation in the British economy is significantly deteriorating; according to the latest data, GDP for January showed 0.0%, the trade balance deteriorated from -1.4 billion pounds to -3.7 billion, industrial production decreased by 0.1%, production in the construction sector showed -0.8% in January.

On the daily scale chart, the surge in growth was stopped by the balance line (red indicator line), meaning that volatility remained within the downward trend. The signal line of the Marlin oscillator is fixed in the decreasing trend zone. Now the target of the pound is the 110.0% Fibonacci level at 1.2647. Overcoming the level opens the second target for the reaction level of 123.6% at the price of 1.2538.

On the H4 chart, the price is fixed under the balance line and the MACD line, the Marlin is declining and does not show signs of a reversal. We are waiting for the British pound to fall to the designated goals.

Analysis are provided byInstaForex.

**InstaForex Gertrude** · 03-13-2020, 12:03 AM

EURUSD reaches key Fibonacci level and bounces

EURUSD was expected to pull back towards the key Fibonacci levels we have mentioned in our previous analysis. EURUSD has reached the 61.8% Fibonacci retracement level and has bounced off of it.

EURUSD has pulled back as a back test of the broken wedge pattern. Price has so far reached the 61.8% level and is bouncing. As we explained in our last Ichimoku cloud analysis, we had a weak sell signal and the first target was the cloud support at 1.1130. Price surpassed our target and reached 1.1060.

So far the back test is successful and supportive of the bullish continuation of the break out. If price pushes back inside the wedge pattern and stays below, then this would be a very bearish sign.

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

Analysis are provided byInstaForex.

**InstaForex Gertrude** · 03-18-2020, 09:57 AM

Trader's diary for March 18, 2020, Oil fell amid coronavirus outbreak

Oil, as can be seen on the chart, fell to $ 26 for two main reasons, first, OPEC Price War in Russia. Second, the global crisis due to coronavirus which leads to a drop in oil demand.

EURUSD:
The euro is trying to start a new wave of decline against the dollar.

Euro is in a fundamentally bad condition as Europe has become the center of the coronavirus pandemic, and the strongest economies namely Italy, Germany and France are at their most vulnerable state. Due to this, the economy will suffer serious losses.

From an economic point of view, the euro can fall right down to parity with the dollar.

You can keep sales from 1.1053.

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

Analysis are provided byInstaForex.

**InstaForex Gertrude** · 03-19-2020, 05:57 AM

Forecast for EUR/USD on March 19, 2020

EUR/USD
Yesterday, trading in the euro took place in a wide range of about 250 points, this morning the price tested the resistance of the embedded line of the price channel on the daily chart and returned to the red indicator line balance, and opening day occurred under this line, which speaks of the intention of the price to decline further, the market came under the control of the bears. The goal of the decline is the low line of the price channel around 1.0640.

On the four-hour chart, yesterday's convergence on the Marlin oscillator turned out to be broken, although its effect was reflected in more than 80-point growth in the euro. Currently, Marlin is developing in its own downward channel, the lower boundary of which is very, very low.