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Forex Analysis & Reviews: Cryptocurrency for everyone: the oldest bank of US BNY Mellon will conduct operations with digital assets

The cryptocurrency market, after a slight decline, began to strengthen its position again and grow in price. The euphoria after the news from Elon Musk has already faded, but bitcoin continues to grow and on February 11 sets a new historical high, rising by 4% over the past day. The cost of the main cryptocurrency reached the mark of $48.4 thousand. The reason for this growth was the news about the launch of operations with the Bank of New York Mellon and Mastercard cryptocurrencies.

Even though large investment companies in America have already shown interest in cryptocurrency, the US Securities Commission quite categorically considers applications for the ability to conduct operations with digital money. Everyone thought that Visa and Tesla would launch the necessary wave of interest, but few could have predicted that the largest and oldest US bank would start working with cryptocurrency. The financial giant is already developing the necessary software for working with cryptocurrencies, which will be available this year.

https://forex-images.ifxdb.com/userfiles/20210211/analytics60254ebf0239a_source!.jpg

Against the background of this news, the value of bitcoin soared by 4%, which indirectly affected other coins. The cryptocurrency market is steadily growing in price, with small drawdowns, for the second week in a row. Large investors are showing increasing interest in bitcoin, which will become a flagship in the assimilation of the crypto market and global financial institutions. Given that these announcements are of a long-term nature, in the near future we should expect new historical highs in prices for other cryptocurrencies.

The interest of retail and large investors, as well as the development of software for the introduction of crypto coins in global financial institutions, makes the interest in the crypto market more conscious and not spontaneous. In turn, this affects the dynamics of rising and falling prices, price correction and the flow of investment. Together, all these factors can affect the high volatility of the cryptocurrency, which will be the main step in the introduction of these assets in financial transactions at the household level.

Analysis are provided byInstaForex.

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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.

https://forex-images.ifxdb.com/userfiles/20210215/analytics602a0a03e3f03_source!.jpg

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):

https://forex-images.ifxdb.com/userfiles/20210215/analytics602a0a0aa3d58_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210215/analytics602a0a11750ad_source!.jpg

Analysis are provided byInstaForex.

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Forex Analysis & Reviews: Elon Musk continues to manipulate the currency market

https://forex-images.ifxdb.com/userfiles/20210216/analytics602b5302c695e_source!.jpg

Once again, news from Elon Musk, who has recently become extremely interested in the cryptocurrency market, comes out. Recall that at first, his comment on the social network led to an increase in bitcoin by $5 thousand, and then his company Tesla announced the purchase of bitcoin in the amount of $1.5 billion, which provoked an increase of another $5,000. Thus, in principle, only Elon Musk is responsible for a fifth of the cost of the "cue ball" at this time. It's scary to imagine what will happen if Musk or other similar businessmen comment on cryptocurrencies every couple of days. However, Musk decided to give bitcoin a break and switched to the Dogecoin cryptocurrency. In the social network Twitter, Musk made a post in which he supports the potential solution of large holders of the Dogecoin. According to Musk, the problem with the token is that it is concentrated in too narrow a circle of owners. After this statement, Dogecoin fell by 19%. Earlier, the same Elon Musk commented on the same cryptocurrency Dogecoin (wrote that it is undervalued) and then followed a powerful growth. Thus, only one owner of Tesla is responsible for four powerful jumps in the cryptocurrency market and this is only in the last 7-10 days. Well, traders can once again personally observe what is happening in the cryptocurrency market and what are the reasons for this. Bitcoin, by the way, this night again rose in price and is already worth almost $50,000 per coin. At the same time, it is still extremely difficult to name at least one fundamental reason why the cryptocurrency has grown 5 times in a few months. And it's not just Bitcoin that's growing! Other cryptocurrencies are also being pulled up, ergo, the entire cryptocurrency market is growing. The more news of this nature from Elon Musk or other major investors and companies we will receive, the more likely it is that cryptocurrencies will continue to grow in price. We continue to insist that sooner or later there will be a collapse. There will not be a scenario in which bitcoin will grow to $100,000 per coin, and then adjust to $80,000 and remain at this level in the medium term. No, when large investors start taking profits on long positions, then the "domino effect" will begin, everyone will immediately rush to sell bitcoin and other major cryptocurrencies at the maximum value, which will lead to the collapse of the entire cryptocurrency market, as it was already in 2017. Therefore, we still believe that bitcoin is a great tool to make money, but we need to be prepared for its collapse.


Analysis are provided byInstaForex.

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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%.

https://forex-images.ifxdb.com/userfiles/20210217/analytics602c829fe7f02_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210217/analytics602c82b0c8903_source!.jpg

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.

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Forex Analysis & Reviews: Trading plan for EUR/USD on February 18

https://forex-images.ifxdb.com/userfiles/20210218/analytics602deb0c1c6dd_source!.jpg

The situation with COVID-19 is stabilizing. There is a strong decline in incidence in both United States and Europe. In fact, the US steadily recorded new cases below 100,000.

Vaccinations are also starting to progress rapidly, but only in the US and Britain.

https://forex-images.ifxdb.com/userfiles/20210218/analytics602deb8f0bcea_source!.jpg

EUR/USD is trading downwards. Primarily, this is because of strong economic data from the US.

Open short positions from 1.2080 to 1.2125.

Price will continue to decline if employment data (in the US) also comes out better than expected.

Analysis are provided byInstaForex.

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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.

https://forex-images.ifxdb.com/userfiles/20210219/analytics602f270728f9e_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210219/analytics602f27145c0f5_source!.jpg

Analysis are provided byInstaForex.

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Forex Analysis & Reviews: Forecast for GBP/USD on February 22, 2021

GBP/USD

The pound was trying to reach the target level of 1.4070 on the reversing Marlin oscillator last Friday and also this morning. The price, especially with the support from the growth of other world currencies, still has the opportunity not only to reach this level, but also to rise above it. But if there is no such support, the price will return to the 1.3950/65 range and, after settling below it, will go further down to the target level of 1.3835.

https://forex-images.ifxdb.com/userfiles/20210222/analytics60331b6abc851_source!.jpg

The four-hour chart shows that the probability of forming a divergence with the Marlin oscillator still remains, only it will be weaker. The divergence will not be broken if the price rises to the 1.4070 level. To open short positions, you are advised to wait for the price to settle under the range of 1.3950/65.

https://forex-images.ifxdb.com/userfiles/20210222/analytics60331b79478f6_source!.jpg

Analysis are provided byInstaForex.

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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

https://forex-images.ifxdb.com/userfiles/20210223/analytics60346d6de21e8_source!.jpg

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%.

https://forex-images.ifxdb.com/userfiles/20210223/analytics60346d7b9ca13_source!.jpg

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.

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Forex Analysis & Reviews: Forecast for EUR/USD on February 24, 2021


EUR/USD
Yesterday, the euro stopped rising on its way to the nearest target of 1.2190, but it is still determined to reach not only this target, but also 1.2272. Drifting under the MACD line, below 1.2105, will return the euro to a downward trend.

https://forex-images.ifxdb.com/userfiles/20210224/analytics6035bee46e102_source!.jpg

The price rises on the four-hour timescale, while the Marlin oscillator turns up. We are waiting for the price to overcome the first target at 1.2190.

https://forex-images.ifxdb.com/userfiles/20210224/analytics6035bef2228ca_source!.jpg

Analysis are provided byInstaForex.

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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.

https://forex-images.ifxdb.com/userfiles/20210225/analytics6037108d50744_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210225/analytics6037109c07ac1_source!.jpg

Analysis are provided byInstaForex.

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Forex Analysis & Reviews: Forecast for GBP/USD on February 26, 2021

GBP/USD
The technical spike, that the British pound formed on Thursday, completely worked out yesterday - the pair dropped 128 points. The price reached the target range of 1.3950/65 this morning. Falling below the lower border of this range opens the next target at 1.3830 - the low on February 17. A correction is likely from this level, since by this time the signal line of the Marlin oscillator will reach the border with the territory of the downtrend and, most likely, will not overcome it on the first attempt.

https://forex-images.ifxdb.com/userfiles/20210226/analytics60385f9eababc_source!.jpg

The price settled below both indicator lines on the four-hour chart - balance and MACD, while Marlin is deeply in the negative zone. The trend is completely downward.

https://forex-images.ifxdb.com/userfiles/20210226/analytics60385fac50e27_source!.jpg

Analysis are provided byInstaForex.

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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.

https://forex-images.ifxdb.com/userfiles/20210301/analytics603c546178039_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210301/analytics603c546fdaa4c_source!.jpg

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.

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Forex Analysis & Reviews: Forecast for EUR/USD on March 2, 2021

EUR/USD
Yesterday, the euro traded in a range of 74 points, closing the day with a decline and consolidation below the balance (red) and MACD (blue) indicator lines. The balance line shows the market mood within the trend, the MACD line determines the trend itself. Now the price is approaching the target level of 1.2023, identified at the February 17 low. Getting the price to settle below it opens targets like 1.1915, then 1.1870. The Marlin oscillator is in a downward trend zone.

https://forex-images.ifxdb.com/userfiles/20210302/analytics603da7d5783a4_source!.jpg

The price continues to fall without signs of a reversal on the four-hour chart:

https://forex-images.ifxdb.com/userfiles/20210302/analytics603da7e3a97f2_source!.jpg

Analysis are provided byInstaForex.

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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.

https://forex-images.ifxdb.com/userfiles/20210303/analytics603ef96fbf867_source!.jpg

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).

https://forex-images.ifxdb.com/userfiles/20210303/analytics603ef97ba9d1a_source!.jpg

Analysis are provided byInstaForex.

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Forecast for GBP/USD on March 4, 2021

Yesterday, the British pound briefly jumped above the target range of 1.3950/65 and returned below its lower bound. The price continues to moderately decline at the moment. The Marlin oscillator is preparing to move into the negative zone, which will strengthen the decline to the first target level 1.3822. Then we wait for the quote at the MACD line in the 1.3727 area - in the accumulation range of the last decade of January.

https://forex-images.ifxdb.com/userfiles/20210304/analytics604048252279f_source!.jpg

The Marlin oscillator is already in the downward trend zone on the four-hour chart, we are waiting for a succeeding decline from the pair.

https://forex-images.ifxdb.com/userfiles/20210304/analytics60404832b1533_source!.jpg

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

Best Regards,PR Manager
InstaForex Companies Group

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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.

https://forex-images.ifxdb.com/userfiles/20210305/analytics60419a502512d_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210305/analytics60419a5c06e84_source!.jpg

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.

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Forex Analysis & Reviews: Forecast for USD/JPY on March 8, 2021

USD/JPY
Last Friday, the USD/JPY pair continued its intensive growth, reaching above the target level of 108.16. Visually, the price will close today with a white candle, but the Marlin oscillator has already reached the overbought zone and is planning a reversal from the upper limit of its own growing channel. This morning came the data on Japan's balance of payments for January, which showed a deterioration in the indicator: 0.647 trillion yen versus December 1.166 trillion and forecasted 1.23 trillion yen. The data, of course, does not contribute to risk appetite (Nikkei 225 adds 0.2% against the background of the Australian S&P/ASX 200 1.20%). But nevertheless, stock indexes are growing and keeping the dollar from a deep correction. It is possible that the correction will not go even under the overcome level of 108.16 (the top of July 1, 2020), so today can be closed with a small black candle. And tomorrow, the growth will continue to the previously defined target of 109.10. From this level, a deeper correction is already likely and the exit of the signal line of the Marlin oscillator from the growing channel will become false, it will return to it later.

https://forex-images.ifxdb.com/userfiles/20210308/analytics604592ff58104_source!.jpg

There are no reversal signs on the four-hour chart, only the Marlin slightly decreases with the last three candles growing, but this is still not a trend and not a signal for a reversal. We are waiting for developments. Today, the main factor is time.

https://forex-images.ifxdb.com/userfiles/20210308/analytics60459311577b0_source!.jpg

Analysis are provided byInstaForex.

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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.

https://forex-images.ifxdb.com/userfiles/20210309/analytics6046e17a20c97_source!.jpg

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).

https://forex-images.ifxdb.com/userfiles/20210309/analytics6046e18839f39_source!.jpg

Analysis are provided byInstaForex.

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Forex Analysis & Reviews: Forecast for AUD/USD on March 10, 2021

AUD/USD
Yesterday, the Australian dollar gained 68 points. And although it did not try to break through the support level of 0.7615, it managed to work out the resistance of the MACD line on the daily time frame. This morning, the price is declining again, so we should still expect it to fall further towards the 0.7615 mark. Meanwhile, commodity markets have outlined a decline, which supports the currency pair. In this case, a prolonged decline can be expected tomorrow, when the ECB announces its monetary policy guidelines. The targets remains at 0.7565 and 0.7500.

https://forex-images.ifxdb.com/userfiles/20210310/analytics604836cece5bc_source!.jpg

The Marlin Oscillator slightly went above the neutral line in the four-hour chart, but it is going to return along it. Otherwise, the situation will remain unchanged, that is, moving downwards.

https://forex-images.ifxdb.com/userfiles/20210310/analytics604836ddcd915_source!.jpg

Analysis are provided byInstaForex.

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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.

https://forex-images.ifxdb.com/userfiles/20210311/analytics604984263c1c0_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210311/analytics60498431c48d6_source!.jpg

Analysis are provided byInstaForex.

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Forex Analysis & Reviews: Forecast for USD/JPY on March 12, 2021

USD/JPY
The Japanese yen continued to adhere to its target yesterday to exit the declining price channel, that is, above the 109.17 mark, move towards the target level of 110.34, and possibly further rise. If we analyze the pair's growth amid the confusing ECB meeting on Thursday, there is a high probability that the price will reach the specified target level. The Marlin Oscillator signal line is also directed upwards.

The price in the H4 chart is supported by the balance indicator line. On the other hand, the Marlin is approaching the border within the growth area. Thus, the price is expected at the nested line of the upward price channel in the area of 110.34.

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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.

https://forex-images.ifxdb.com/userfiles/20210315/analytics604ec89d5f89f_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210315/analytics604ec8add745a_source!.jpg

Analysis are provided byInstaForex.

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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.

https://forex-images.ifxdb.com/userfiles/20210316/analytics60501e7a1be66_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210316/analytics60501e847fa63_source!.jpg

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.

Analysis are provided byInstaForex.

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Re: InstaForex Analysis

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.

https://forex-images.ifxdb.com/userfiles/20210317/analytics605172a729b01_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210317/analytics6051732416ac5_source!.jpg

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

Re: InstaForex Analysis

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.

https://forex-images.ifxdb.com/userfiles/20210318/analytics6052c3f630904_source!.jpg

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.

https://forex-images.ifxdb.com/userfiles/20210318/analytics6052c4033aba7_source!.jpg

Analysis are provided byInstaForex.

Best regards, PR Manager / Learn more about InstaForex Company at http://instaforex.com

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