Forex Technical Analysis & Forecast 17.03.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

EURUSD, “Euro vs US Dollar”

After forming the ascending structure towards the upside border of the consolidation range at 1.1230, EURUSD has finished another descending impulse along with the correction. Today, the pair may fall towards 1.1050 and then start a new correction with the target at 1.1140.

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Japanese Candlesticks Analysis 19.03.2020 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, Gold is testing the support level. By now, it has formed several reversal patterns, such as Hammer. Possibly, the pair may reverse and start a new correction to reach 1535.00. However, one shouldn’t ignore another scenario, according to which the instrument may continue falling without any significant pullbacks. In this case, the downside target may be at 1450.00.

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Fibonacci Retracements Analysis 23.03.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the daily chart, the divergence made the pair form a new wave to the downside; the wave broke 38.2% fibo but later stopped not fare from 50.0% fibo at 1431.95. After finishing the correction, XAUUSD may resume trading downwards to reach 50.0% and 61.8% fibo at 1431.95 and 1367.80 respectively. The resistance is the high at 1703.17.

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Murrey Math Lines 25.03.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading above 5/8. In this case, the price is expected to continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 5/8.

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Ichimoku Cloud Analysis 27.03.2020 (USDJPY, GBPUSD, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 108.40; the instrument is moving below Ichimoku Cloud, thus indicating a bearish tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 109.05 and then resume moving downwards to reach 106.75. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 110.85. In this case, the pair may continue growing towards 111.75.

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Forex Technical Analysis & Forecast 31.03.2020

EURUSD, “Euro vs US Dollar”

After forming a correctional continuation pattern at 1.1053 and breaking it downwards, EURUSD is trading to reach the short-term target at 1.0980. Later, the market may form one more ascending structure to return to 1.1053 and then resume falling towards 1.0970.

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Japanese Candlesticks Analysis 02.04.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming a Hammer pattern and reversing, USDCAD has tested the channel’s upside border. At the moment, the pair is still rebounding from the resistance level to the descending tendency. In this case, the downside target may be at 1.3920. at the same time, there might be another scenario, which implies that the instrument may re-test the channel’s upside border and grow towards 1.4327.

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Fibonacci Retracements Analysis 06.04.2020 (GOLD, USDCHF)
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after completing a slight correction, XAUUSD is trying to start a new rising impulse towards 76.0% fibo, which was tested earlier. If the pair fixes above this level, the price may reach the high at 1703.17 and break it. In this case, the instrument may trade to attack the long-term 76.0% fibo at 1708.85. The support remains at 1451.18.

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Murrey Math Lines 08.04.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading above 5/8. In this case, the price is expected to break 6/8 and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue trading upwards to reach the support at 3/8.

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Ichimoku Cloud Analysis 10.04.2020 (EURUSD, GBPUSD, AUDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.0940; the instrument is moving above Ichimoku Cloud, thus indicating a bullish tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0905 and then resume moving upwards to reach 1.1025. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.0835. In this case, the pair may continue falling towards 1.0745.

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Forex Technical Analysis & Forecast 14.04.2020

EURUSD, “Euro vs US Dollar”

After finishing the first descending structure with the short-term target at 1.0892, EURUSD has completed the correction towards 1.0945. Possibly, the pair may break the correctional channel to the downside and then form a new descending structure with the first target at 1.0884. Later, the market may start another growth to reach 1.0925.

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Japanese Candlesticks Analysis 16.04.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is no longer moving inside the rising channel. By now, after forming a Hammer pattern not far from the support level, EURUSD has completed another correction We may assume that later the price may rebound from the support level and then resume the ascending tendency. In this case, the upside target may be at 1.1030. At the same time, there is another scenario, which implies that the price may continue falling to reach 1.0830.

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