Fibonacci Retracements Analysis 06.07.2020 (GOLD, USDCHF)

GOLD

From the technical point of view, the H4 chart shows that XAUUSD is moving above the broken high at 1764.86. This situation means that the pair has fixed above the high at 1789.05 in order to continue the ascending tendency towards the post-correctional extension area between 138.2% and 161.8% fibo at 1800.60 and 1822.70 respectively. However, a divergence on MACD and low market volatility indicate a possible reversal or pullback. The key support is at 1670.60. The first correctional target may be 23.6% fibo at 1709.30, while the next ones are 38.2%, 50.0%, and 61.8% fibo at 1660.00, 1620.30, and 1580.30 respectively.

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Murrey Math Lines 08.07.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is consolidating between 3/8 and 5/8. In this case, the price is expected to break 3/8 and continue falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may continue trading upwards to reach the closest resistance at 5/8.

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Ichimoku Cloud Analysis 10.07.2020 (USDCAD, EURGBP, GBPNZD)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3623; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3585 and then resume moving upwards to reach 1.3685. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3505. In this case, the pair may continue falling towards 1.3415.

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Forex Technical Analysis & Forecast 14.07.2020

EURUSD, “Euro vs US Dollar”

EURUSD is still moving upwards to reach 1.1380. Possibly, the pair may reach it and then form a new descending structure towards 1.1314 and then start another growth to reach 1.1350, thus forming a new consolidating range. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.1225; if to the upside – form one more ascending structure towards 1.1400.

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Japanese Candlesticks Analysis 16.07.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is testing the support level once again. By now, the price has formed several reversal patterns, such as Doji. Considering the current downtrend, one may assume that the asset may finish the correction and then continue falling. In this case, the downside target is at 1.3434. Still, an opposite scenario suggests that the instrument may continue growing to return to the resistance area at 1.3685.

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Fibonacci Retracements Analysis 20.07.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD is forming a slight local correction inside the post-correctional extension area between 138.2% and 161.8% fibo at 1800.60 and 1823.00 respectively. After breaking this area to the upside, the instrument may try to attack its all-time high at 1920.66. The key support is at 1670.60.

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Murrey Math Lines 22.07.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is moving below the consolidation range not far from 1/8. In this case, the price is expected to break this level and then continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may continue trading upwards to reach the closest resistance at 3/8.

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Forex Technical Analysis & Forecast 24.07.2020

EURUSD, “Euro vs US Dollar”

EURUSD is consolidating around 1.1580; it has already expanded the range up to 1.1625. Possibly, today the pair may fall to test 1.1580 from above and then form one more ascending structure to complete this wave at 1.1654. Later, the market may correct with the target at 1.1400.

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Forex Technical Analysis & Forecast 28.07.2020

EURUSD, “Euro vs US Dollar”

After forming the ascending wave at 1.1780, EURUSD is correcting. Possibly, the pair may fall to reach 1.1678 and then form one more ascending structure with the target at 1.1816. Later, the market may resume trading downwards as a correction towards 1.1580.

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Japanese Candlesticks Analysis 30.07.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the asset is correcting within the ascending tendency. After forming a Harami pattern not far from the resistance level, EURUSD has started reversing. Considering the current bullish dynamics, the price may form a slight pullback towards the rising channel’s upside border and then resume trading upwards to reach the next resistance level at 1.1845. At the same time, an alternative scenario implies that the instrument may continue falling to return to 1.1645.

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Fibonacci Retracements Analysis 03.08.2020 (GOLD, USDCHF)
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, MACD is forming a divergence, which may indicate a possible correction to the downside with the targets at 23.6%, 38.2%, and 50.0% fibo at 1915.25, 1868.20, and 1830.20 respectively. The resistance is the high at 1990.68. The next upside targets are inside the post-correctional extension area between 138.2% and 161.8% fibo at 2254.60 and 2460.00 respectively.

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Murrey Math Lines 05.08.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is consolidating nor far from 3/8. In this case, the price is expected to rebound from this level and then resume growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling to reach the closest support at 2/8.

Read more - Murrey Math Lines USDJPY, USDCAD