Forex Analysis & Reviews: Hot forecast for EUR/USD on 02/15/2021

We can absolutely calmly say that the single European currency has actually stood still for several days in a row. Of course it gradually decreased for nearly the entirety of Friday, and it completely won back all these losses closer to the end of the US session. But the scale of these movements, at best, can be called extremely modest. Something in the region of thirty points one way and the other. Which, in general, is not surprising, since the macroeconomic calendar was completely empty on Friday. So there was simply nothing for investors to grab onto.

Today the situation is somewhat different, as data on retail sales will be published in Europe, which should show zero growth. More precisely, they can show no change in annual terms. And oddly enough, this can be perceived as an extremely positive factor, since the European industry has been declining for twenty-five consecutive months. That is, it has been decreasing since November 2018. The data for December last year will be published today. In general, despite the depressing state of affairs in the European industry, the fact that the recession has stopped already seems like incredible growth, which will contribute to the euro's appreciation. Industrial production (Europe):

After a short pullback from the resistance point of 1.2150, the EURUSD pair returned to the area of last week's high, while showing interest in growth.

The market dynamics is below average, while local jumps are slipping in the market, which indicates that speculators are on it.

Based on the quote's current location, it is clear that market participants are already practically touching the resistance level of 1.2150, where, given the recent pullback, a regrouping of trading forces could have occurred, which will positively affect the volume of long positions.

Considering the trading chart in general terms, the daily period, you can see that the quote follows in the structure of the corrective move from the high of the medium-term trend of 1.2349, where, taking into account the recovery, we are about halfway from the high of the trend.

We can assume that the recovery process relative to the corrective move may continue to be present in the market, but in order to do so, the quote needs to stay above 1.2155, which will open the way in the direction of 1.2190, this is the first point of a possible move.

In case the price does not surpass the 1.2155 level on a four-hour period, then a fluctuation along the 1.2110/1.2160 range is not excluded.

From the point of view of a comprehensive indicator analysis, we see that the indicators of technical instruments signal a buy, since the quote can be found in the 1.2150 region.

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for EUR/USD on February 17, 2021

EUR/USD
Yesterday, the euro failed to take the opportunity to reach the 1.2190-1.2272 range. The excellent European ZEW Economic Sentiment did not even provide support to the euro, which grew from 58.3 to 69.6 while expectations were at 59.2, and the GDP for the fourth quarter showed a decline of -0.6% against the forecasts at -0.7%. But investors were happy with the growth of activity in the manufacturing sector in New York, which showed an increase from 3.5 to 12.1. As a result, the euro lost 23 points in a day.

Today, investors have more serious reasons for strengthening the dollar: retail sales for January are forecast to grow by 1.1%, industrial production is expected to grow by 0.5%.

The price moves back down below the MACD indicator line on the daily chart, while the Marlin indicator also returns to the downward trend zone. Now the price is facing the 1.1870-1.1915 target.

The price also goes under the MACD line on the four-hour chart, while Marlin has already consolidated in the zone of negative values. We look forward to further weakening of the euro.

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for AUD/USD on February 19, 2021

AUD/USD
The support of the balance indicator line has confirmed its impact on the price. After reaching the lower shadow, the price successfully broke through the entire range of 0.7765/83 and closed the day inside it. However, it is now trying to leave it in order to decline. In this case, the price should consolidate below yesterday's low, and move below the balance indicator line. If so, we can expect the downward trend to extend to the target range of 0.7625/41. The Marlin Oscillator is in the area of positive levels, and thus, we should get ready to break through this today.

In the H4 chart, yesterday's low of 0.7732 is located below the MACD line (blue moving average). This level can be a good pivot point to determine the price's intention to continue its decline. Here, the Marlin Oscillator is in the negative trend zone. It is possible that an attack on the signal level of 0.7732 will be made today, but the development can only be expected next week.

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for EUR/USD on February 23, 2021

EUR/USD
Yesterday, the euro received strong ideological support from the expected growth trends in US government bond yields. The yield on 5-year securities did not grow very high, but it overcame the psychological level of 0.60% and there were forecasts (rather expectations) of growth to 1.0%, 1.5% and even 2.0%. If this goes on, then the euro will have great prospects. The Federal Reserve should somehow intervene in the emerging situation, because with a government debt of 27.896 trillion. dollars, to which another 1.9 trillion will be added. according to the "Biden plan", its maintenance will be difficult. We believe that the US central bank will take control of the yield curve earlier than the markets expect. It is possible that the media are already fulfilling a social order, raising a fuss on this issue

Now the euro is facing the task of consolidating above the 1.2190 level. In this case, the subsequent correction from the 8th Fibonacci timeline will not be deep, approximately to the MACD indicator line (1.2100), afterwards the price may continue to rise to the upper target of 1.2272. The price is above the balance indicator line, while Marlin moves into the positive trend zone, the probability of growth is 80%.

The price reversed from the support of the MACD line on the four-hour chart, it increases without signs of a reversal.

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for USD/JPY on February 25, 2021

USD/JPY
The US dollar showed a significant increase against the Japanese yen on Wednesday. Thus, it is now possible not only to reach the target range of 106.50/65 in the near future, but also to break through it, with the aim to rise further towards the target range of 107.35/50.

The price consolidated above both the balance indicator (red) and MACD lines in the H4 chart. Meanwhile, the Marlin oscillator is in the upper zone. The upward trend is likely to strengthen after the price managed to break through the February 17 high set at 106.23.

Analysis are provided byInstaForex.

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.

Analysis are provided byInstaForex.

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).

Analysis are provided byInstaForex.

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.

Analysis are provided byInstaForex.

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).

Analysis are provided byInstaForex.

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.

Analysis are provided byInstaForex.

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.

Analysis are provided byInstaForex.

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.

Analysis are provided byInstaForex.