Japanese Candlesticks Analysis 12.02.2021 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the metal is about to finish the correctional impulse. Right now, after forming several reversal patterns, such as Harami and Doji, close to the support level, XAUUSD is reversing and may resume growing towards the resistance area. In this case, the upside target will be at 1874.50. At the same time, an opposite scenario implies that the price may continue its decline towards 1800.00 before further growth.

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Murrey Math Lines 16.02.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is approaching the “overbought area”. In this case, the price is expected to test 8/8, rebound from it, and then correct downwards to reach the support at 5/8. However, this scenario may be canceled if the price breaks 8/8 to the upside. After that, the instrument may grow towards the resistance at +1/8.

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Fibonacci Retracements Analysis 18.02.2021 (AUDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after falling and reaching 23.6% fibo, AUDUSD has formed a new rising impulse towards the high at 0.7820. If the pair breaks the high, it may continue growing to reach the post-correctional extension area between 138.2% and 161.8% fibo at 0.7918 and 0.7978 respectively. However, if the asset rebounds from the high, it may resume falling and expand the correctional range. The correctional targets may be at 38.2% and 50.0% fibo at 0.7503 and 0.7406 respectively.

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Ichimoku Cloud Analysis 22.02.2021 (EURUSD, BTCUSD, USDCNH)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2119 above the Ichimoku Cloud, suggesting an uptrend. A test of the lower border of the Cloud at 1.2070 is expected, followed by growth to 1.2230. An additional signal confirming the growth will be a bounce off the lower border of the ascending channel. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 1.2030, which will mean further decline to 1.1955. The growth will be confirmed by a breakaway of the resistance area and securing above 1.2150, which will mean an inverted Head and Shoulders pattern is complete.

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Forex Technical Analysis & Forecast 24.02.2021

EURUSD, “Euro vs US Dollar”

After finishing another ascending wave at 1.2177, EURUSD had returned to 1.2144; right now, it is consolidating above the latter level. Possibly, today the pair may expand the range down to 1.2135 and then resume growing to break 1.2190. After that, the instrument may continue trading upwards with the target at 1.2350.

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Japanese Candlesticks Analysis 26.02.2021 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming a Hammer reversal pattern not far from the support level and reversing, USDCAD has reached the channel’s upside border. In this case, the next downside target is at 1.2440. After that, the asset may continue forming the descending impulse. However, an alternative scenario implies a further uptrend towards 1.2680 before the asset resumes the descending tendency.

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Murrey Math Lines 02.03.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after breaking 3/8 to the upside, AUDUSD is consolidating. In this case, the price is expected to continue moving upwards to reach the upside border at 5/8. However, this scenario may be canceled if the price breaks 3/8 to the downside. After that, the instrument may fall towards the support at 1/8.

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Fibonacci Retracements Analysis 04.03.2021 (AUDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the daily chart, after breaking 38.2% fibo, the asset has failed to reach 50.0% fibo at 0.8292. Right now, there is a divergence on MACD, which indicates that the pair is about to start a new pullback towards the support at 23.6% fibo (0.6820). After the pullback is over, the instrument may form a new rising impulse to reach 50.0% and 61.8% fibo at 0.8292 and 0.8946 respectively.

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Ichimoku Cloud Analysis 08.03.2021 (USDCAD, XAUUSD, NZDUSD)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2662; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2615 and then resume moving upwards to reach 1.2845. Another signal in favor of a further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2555. In this case, the pair may continue falling towards 1.2465. To confirm further growth, the asset must break the pattern’s upside border and fix above 1.2715.

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Forex Technical Analysis & Forecast 10.03.2021

EURUSD, “Euro vs US Dollar”

After finishing the ascending impulse at 1.1915, EURUSD is expected to correct towards 1.1872. After that, the instrument may start a new ascending wave and reach 1.1928.

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Japanese Candlesticks Analysis 12.03.2021 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the asset is about to finish the correction. While testing the resistance area, the pair has formed several reversal patterns, including Harami. At the moment, EURUSD is reversing and may later resume falling towards the support area. In this case, the downside target may be at 1.1850. However, an alternative scenario implies that the price may correct to reach 1.2040 before resuming its decline.

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Murrey Math Lines 16.03.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is trading below 3/8. In this case, the price is expected to break this level and then continue moving upwards to reach the resistance at 5/8. However, this scenario may be canceled if the price breaks 2/8 to the downside. After that, the instrument may fall towards the support at 1/8.

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