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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: Forecast for EUR/USD on March 1, 2021 EUR/USD The euro fell by 99 points last Friday, ...

      
   
  1. #871
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    Forex Analysis & Reviews: Forecast for EUR/USD on March 1, 2021

    EUR/USD
    The euro fell by 99 points last Friday, broke through the support of the MACD line, but the Marlin oscillator only touched the border of the downward trend area and now a correction is taking place.



    The downward momentum is set strong, we are waiting for the price to move to the 1.1870-1.1915 target range. From the specified range, we expect a correction of the order of one figure, afterwards it could fall again (1.1760). The nearest target, however, is 1.2023, but in order to reach it, it is necessary to overcome Friday's low, as shown on the four-hour chart.



    The trend is completely downward on the four-hour chart, while the Marlin signal line is slightly to the upside, showing the current correction.

    So, we are waiting for the price to surpass the signal level of 1.2062.

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  2. #872
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    Forex Analysis & Reviews: Forecast for EUR/USD on March 2, 2021

    EUR/USD
    Yesterday, the euro traded in a range of 74 points, closing the day with a decline and consolidation below the balance (red) and MACD (blue) indicator lines. The balance line shows the market mood within the trend, the MACD line determines the trend itself. Now the price is approaching the target level of 1.2023, identified at the February 17 low. Getting the price to settle below it opens targets like 1.1915, then 1.1870. The Marlin oscillator is in a downward trend zone.



    The price continues to fall without signs of a reversal on the four-hour chart:



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  3. #873
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    Forex Analysis & Reviews: Forecast for AUD/USD on March 3, 2021

    AUD/USD
    The Australian dollar moved higher yesterday with the support of the Marlin oscillator, which has penetrated the area of the rising trend on the daily chart. But since this is a correctional growth, we do not expect a succeeding significant growth in price. There is an increase in prices on the commodity market and AUD/USD will feel a little better than European currencies, albeit without a pronounced growth.



    The correction continues on the four-hour chart, the growth limit is seen in the area of the MACD line, near the level of 0.7875. After getting the price to settle below the target range of 0.7765/83, we expect it to fall to the range of 0.7625/41 (peak on December 17, 2020).



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  4. #874
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    Forex Analysis & Reviews: Forecast for AUD/USD on March 5, 2021

    AUD/USD
    Yesterday, the Australian dollar was expectedly supported by the leading currencies. The US dollar index strengthened by 0.69%. At the same time, the Australian dollar hardly lost much (46 points), pausing at the support of the MACD line. And then, it did the main thing During the Asian trading session, it broke through the support and quickly declined. The Marlin oscillator has forcefully entered the downward trend zone. Thus, the situation has become completely declining.



    On the daily chart, the targets are set at 0.7615, 0.7565, 0.7500, 0.7375. The medium-term target of the AUD/USD pair is located at 0.7170 level, from which there was a formation of complex consolidations last summer and autumn 2020.



    The MACD signal line in the H4 chart has left the consolidation at the zero level below (gray area on the chart), and is going deeper into this negative zone. The situation is fully downward.

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  5. #875
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    Forex Analysis & Reviews: Forecast for USD/JPY on March 8, 2021

    USD/JPY
    Last Friday, the USD/JPY pair continued its intensive growth, reaching above the target level of 108.16. Visually, the price will close today with a white candle, but the Marlin oscillator has already reached the overbought zone and is planning a reversal from the upper limit of its own growing channel. This morning came the data on Japan's balance of payments for January, which showed a deterioration in the indicator: 0.647 trillion yen versus December 1.166 trillion and forecasted 1.23 trillion yen. The data, of course, does not contribute to risk appetite (Nikkei 225 adds 0.2% against the background of the Australian S&P/ASX 200 1.20%). But nevertheless, stock indexes are growing and keeping the dollar from a deep correction. It is possible that the correction will not go even under the overcome level of 108.16 (the top of July 1, 2020), so today can be closed with a small black candle. And tomorrow, the growth will continue to the previously defined target of 109.10. From this level, a deeper correction is already likely and the exit of the signal line of the Marlin oscillator from the growing channel will become false, it will return to it later.



    There are no reversal signs on the four-hour chart, only the Marlin slightly decreases with the last three candles growing, but this is still not a trend and not a signal for a reversal. We are waiting for developments. Today, the main factor is time.



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  6. #876
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    Forex Analysis & Reviews: Forecast for EUR/USD on March 9, 2021

    EUR/USD Yesterday, the euro decided to go down from its local price channel. Now the following target levels are ahead: 1.1800 (low of November 23, 2020), 1.1745 (low of November 11), 1.1688-1.1700. The main target is the last one- the 1.1688-1.1700 range, which is referenced by the low on October 15, 2020.



    The price divergence with the oscillator develops on the four-hour scale, but if it is not broken today, then only a nominal correction is expected, to the lower border of the price channel, from which the price left yesterday (1.1880).



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  7. #877
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    Forex Analysis & Reviews: Forecast for AUD/USD on March 10, 2021

    AUD/USD
    Yesterday, the Australian dollar gained 68 points. And although it did not try to break through the support level of 0.7615, it managed to work out the resistance of the MACD line on the daily time frame. This morning, the price is declining again, so we should still expect it to fall further towards the 0.7615 mark. Meanwhile, commodity markets have outlined a decline, which supports the currency pair. In this case, a prolonged decline can be expected tomorrow, when the ECB announces its monetary policy guidelines. The targets remains at 0.7565 and 0.7500.



    The Marlin Oscillator slightly went above the neutral line in the four-hour chart, but it is going to return along it. Otherwise, the situation will remain unchanged, that is, moving downwards.



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  8. #878
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    Forex Analysis & Reviews: Forecast for EUR/USD on March 11, 2021

    EUR/USD
    Another day passed in anticipation of the European Central Bank meeting. Yesterday, the trading range for the euro was 60 points without any attempts at serious action. According to the general median opinion prevailing in the market, the ECB in the face of the European recession should show at least verbal softness, declaring its readiness to use any means of accommodation policy at any time, up to a rate cut. And since investors are already tuned in to such rhetoric, it is already easier to find it even in an essentially neutral speech. Our main scenario assumes that the price would move from the descending price channel of the daily timeframe (1.1874) and advance towards targets like 1.1800, 1.1745.



    On the four-hour chart, the increased exit of the Marlin oscillator into the growth zone is suspicious, but the current significance of the ECB meeting is so great that it can easily change any technical picture. In case the euro sharply falls, Marlin will have a longer downward movement. This is how this indicator will be read, but not now, but it is a fact.



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  9. #879
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    Forex Analysis & Reviews: Forecast for USD/JPY on March 12, 2021

    USD/JPY
    The Japanese yen continued to adhere to its target yesterday to exit the declining price channel, that is, above the 109.17 mark, move towards the target level of 110.34, and possibly further rise. If we analyze the pair's growth amid the confusing ECB meeting on Thursday, there is a high probability that the price will reach the specified target level. The Marlin Oscillator signal line is also directed upwards.



    The price in the H4 chart is supported by the balance indicator line. On the other hand, the Marlin is approaching the border within the growth area. Thus, the price is expected at the nested line of the upward price channel in the area of 110.34.



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  10. #880
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    Forex Analysis & Reviews: Forecast for GBP/USD on March 15, 2021

    GBP/USD Last Thursday and Friday, the pound went above the target level of 1.3950 for a short time and is now preparing to attack the support of the MACD line (1.3800). Success will lead the pound to advance to deeper targets: 1.3630 and 1.3460. The same maneuver with a short-term exit above the neutral level was made by the Marlin oscillator and now it is in the downward trend zone.



    The price is between the MACD line and the 1.3950 target level on the four-hour chart. The Marlin oscillator is formally in the growth zone, but it still moves horizontally along the border. A more probable development of the situation will be the price drift under the opening of the week (and under the MACD line on H4) and advance to the first target of 1.3800.



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