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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: Forecast for AUD/USD on March 16, 2021 AUD/USD On the daily chart, the Australian dollar is ...

      
   
  1. #881
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    Forex Analysis & Reviews: Forecast for AUD/USD on March 16, 2021

    AUD/USD
    On the daily chart, the Australian dollar is trying to gain a foothold under the MACD indicator line. But for a complete consolidation, it is necessary for today to close with a black candle. The Marlin Oscillator has entered negative territory.



    It looks like the Australian dollar, along with the European currencies, is waiting for tomorrow's Fed meeting. But it may still slowly decline because oil, gold, metals, and a number of agricultural commodities are getting cheaper yesterday and this morning.



    On the four-hour chart, the price is still above the MACD line. A decline in the price below 0.7724 will be a signal to open short positions. Marlin is already in the negative zone.

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  2. #882
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    Forex Analysis & Reviews: Forecast for AUD/USD on March 17, 2021

    AUD/USD
    Yesterday, the Australian dollar consolidated under the blue MACD indicator trend line on the daily chart. This signals a change in the trend that reversed from the 0.8010 mark on February 25. At the same time, the Marlin Oscillator has entered the downward zone, thereby putting relevance to the target levels set at 0.7615, 0.7565 and 0.7500 on the specified chart.



    The price in the H4 chart is still above the MACD line, but the Marlin oscillator shows that it is determined to break through this support immediately. During the past day, an attempt was made to break through the MACD line, but ended unsuccessfully. Today, there will be a stronger pressure from the outcome of the FOMC meeting. If the price moves below the MACD line (0.7717), the path will be opened towards the first target level of 0.7615.



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  3. #883
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    Forex Analysis & Reviews: Forecast for USD/JPY on March 18, 2021

    USD/JPY
    The Japanese yen did not react strongly to the sharp weakening of the dollar yesterday after the announcement of the Fed's optimistic economic forecasts. The yen preferred to extend the consolidation and look around. This morning, the dollar stopped falling, and stock indexes continued to rise. This situation once again favors the USD/JPY pair in continuing to grow towards the target of 110.35. A weak divergence with the Marlin oscillator, as we noted yesterday, takes on the character of a discharge of the indicator before further growth.



    On the four-hour chart, the price is still below the MACD indicator line, the Marlin is formally in the growth zone, but continues to move sideways in its own range. The signal to buy will be the exit price above yesterday's top, 109.34.



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  4. #884
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    Forex Analysis & Reviews: Forecast for USD/JPY on March 19, 2021

    USD/JPY
    The Japanese yen continues to consolidate while the US dollar deals with its European competitors. After the Fed and Bank of England meetings, this period has ended, and the yen meets the latest and more important release directly from the Bank of Japan this morning. It came out neutral without any changes.



    Based on the daily chart, the Marlin oscillator has slowed down the decline and shows the intention to move up. The target of the pair's growth is the nested line of the growing price channel at 110.37.



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  5. #885
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    Forex Analysis & Reviews: Forecast for USD/JPY on March 22, 2021

    USD/JPY
    The USD/JPY pair was in a neutral state last Friday, closing the day almost at the opening level, this morning the market opened with a falling gap of 22 points, closed in the next half hour of trading. Conditions have been created in order for the price to move up to the embedded line of the rising price channel of the higher timeframe (110.37), but the Marlin oscillator is descending along a steep trajectory, which is more likely to prolong the price consolidation of the last five sessions. A reversal of the indicator and a breakout of the price to the upside is likely tomorrow on Tuesday.



    The price, with the gap closing, returned to last week's consolidation range highlighted by the gray rectangle on the four-hour chart. The Marlin oscillator did not leave its own range. With the dollar's strength, and the price going over the MACD line in the area of 109.35, it is likely that the price will move to the upside.



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  6. #886
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    Forex Analysis & Reviews: Forecast for EUR/USD on March 23, 2021

    EUR/USD
    In yesterday's correction by closing the gap from the opening of trades, the euro overdid it a little, forming a white candlestick of 50 points, while other currencies were limited only to closing the gap. The price decided to work out the resistance set by the February 5 low and the correction was 62% from the March 18 high. The Marlin oscillator is developing in the negative area on the daily chart. Now we are waiting for the euro to fall to the first target level of 1.1800 - to the low on November 23, 2020.



    The balance indicator line kept the price growing on the four-hour chart. Marlin slightly went into the growth zone, but with general reversal moods, it can quickly return back to the negative half. The MACD indicator line looks loose, playing the role of a technical shaft, on which the price is wound. Nevertheless, being able to settle below it, under 1.1880, may become a working signal of the consolidated downward trend in the short term.



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  7. #887
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    Forex Analysis & Reviews: Forecast for AUD/USD on March 24, 2021

    AUD/USD
    This morning, the Australian dollar reached its first target set at 0.7615, after losing 114 points yesterday. The main impulse was the New Zealand dollar, which declined by 150 points due to the introduction of budgetary measures to curb the growth of real estate prices.



    On the daily chart, Marlin Oscillator's signal line began to slightly turn. This suggests that the correction can be either from the reached level of 0.7615 or from the lower target level of 0.7565 (low of February 2). Regardless, the downward trend has already started, so we will wait for the price at the levels of 0.7500 and 0.7375.



    The price in the H4 chart is making an attempt to break through the support level of 0.7615, with the Marlin oscillator moving down. A consolidation below which will lead the quote to the 0.7565 mark. After that, we can expect a fair correction to eliminate the oscillator from the oversold zone.

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  8. #888
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    Forex Analysis & Reviews: Forecast for USD/JPY on March 25, 2021

    USD/JPY
    The USD/JPY currency pair managed once again to overcome the circumstances and refrained from a deeper correction, the goals of which were 108.16 and 107.35/50. The price turned around from the upper limit of support on March 10 to 11 and it resumed growth towards the target of 110.37 in the Asian session today, with the Marlin oscillator turned up. The target is determined by the nested line of the growing price channel of the monthly time frame.



    Based on the four-hour scale chart, the signal line of the Marlin oscillator now seeks to exit its own consolidation going up. The price overcame the resistance level of the balance indicator line, which shifted the priority to the pair's purchases. The nearest growth target, intermediate before 110.37 will be at 109.34 the Kruzenshtern line unfolding upwards.



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

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  9. #889
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    Forex Analysis & Reviews: Forecast for EUR/USD on March 26, 2021

    EUR/USD
    In previous reviews, we counted on a correction based on erroneous information about Catholic Easter. The holiday was designated on March 26-29 in a number of economic calendars, while in reality it falls on April 2-5. The error in the calendars was corrected, and our inaccurate forecast, unfortunately, remained, for which we apologize.

    Meanwhile, the euro successfully passed the 1.1800 target level (now this level has been updated to 1.1810) and has moved to the 1.1745 target level.



    Now, either from the 1.1745 level, or from the current one, we expect a correction based on a more pronounced double convergence of price with the Marlin oscillator. The correction may still not be deep, limited from the top by the 1.1810 level, but it can continue in this range on Monday due to the lack of planned news.



    A reversal of the Marlin oscillator indicates a reversal from the current levels on the H4 chart. The 1.1810 level, as you can see, corresponds to a slight consolidation on March 24th.

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  10. #890
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    Forex Analysis & Reviews: Indicator Analysis. Daily review for the EUR/ USD currency pair 03/26/21

    Trend Analysis (Fig. 1). Today, the market is moving up from the level of 1.1768 (the closing of yesterday's daily candle), and will try to reach the pullback level of 38.2% at 1.1849 (blue dotted line). In the case of testing this level, it is possible to work up with the target of 1.1890-at the resistance line (the red bold line).



    Figure 1 (daily chart).
    Comprehensive Analysis:
    - Indicator Analysis up
    - Fibonacci Levels up
    - Volumes up
    - Candle Analysis up
    - Trend Analysis up
    - Bollinger Bands up
    - Weekly Chart up

    General Conclusion:
    Today, the price is moving up from the level of 1.1768 (closing yesterday's daily candle) and will try to reach the pullback level of 38.2% at 1.1849 (blue dotted line). In the case of testing this level, it is possible to work up with the target of 1.1890 at the resistance line (the red bold line).

    Alternative scenario: the price will move down from the level of 1.1768 (the closing of yesterday's daily candle) and will try to reach the pullback level of 85.4% at 1.1711 (the red dotted line). In the case of testing this level, it is possible to continue working downwards with the target of 1.1691 at the lower border of the Bollinger line indicator (the black dotted line).

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