Japanese Candlesticks Analysis 19.03.2021 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns, including Hammer, not far from the support level, USDCAD is reversing in the form of a correction and may reach the resistance area. In this case, the upside target is at 1.2555. After testing the resistance area, the price may rebound and resume its descending tendency.

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Murrey Math Lines 23.03.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, after rebounding from 3/8, AUDUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 2/8 and then continue moving downwards to reach the support at 1/8. However, this scenario may be canceled if the price breaks 3/8 to the upside. After that, the instrument may grow towards the resistance at 4/8.

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Fibonacci Retracements Analysis 25.03.2021 (Brent, Dow Jones)

Brent

In the daily chart, the asset is forming a new descending correction after testing the long-term 76.0% fibo. Another signal in favor of a possible reversal is a divergence on MACD. Right now, the price is moving close to its first target, 23.6% fibo at 58.00, and may later continue falling to reach the next ones at 38.2%, 50.0%, and 61.8% fibo at 49.94, 43.46, and 36.93 respectively. A breakout of the high at 71.07 may complete the correction and lead to a further uptrend to reach the fractal high at 87.09.

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Ichimoku Cloud Analysis 29.03.2021 (EURJPY, BRENT, NZDCAD)

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 128.91; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 129.10 and then resume moving downwards to reach 127.55. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 129.95. In this case, the pair may continue growing towards 130.85. To confirm further decline, the asset must break the rising channel’s downside border and fix below 128.55.

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Forex Technical Analysis & Forecast 31.03.2021

EURUSD, “Euro vs US Dollar”

After reaching its short-term downside target, EURUSD is expected to consolidate near the lows. Possibly, the pair may expand the range down to 1.1700. Later, the market may break the descending channel and resume trading upwards with the target at 1.1990.

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Japanese Candlesticks Analysis 02.04.2021 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the asset is still correcting within the uptrend. While testing the support area, the pair has formed several reversal patterns, including Engulfing. At the moment, EURUSD may reverse and form a pullback towards the resistance area. In this case, the correctional target may be at 1.1825. However, an alternative scenario implies that the price may continue falling to reach 1.1665 without testing the resistance area.

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Murrey Math Lines 06.04.2021 (AUDUSD, NZDUSD)

AUDUSD, "Australian Dollar vs US Dollar"

On H4, the quotations have escaped the oversold area and are now trading above 1/8. We currently expect it to grow to 2/8. If this level is overcome, this will mean further growth to the resistance at 3/8. The scenario can be canceled by a breakaway of 1/8 downwards. In this case, the pair will return to 0/8.

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Fibonacci Retracement Analysis 08.04.2021 (BRENT, Dow Jones)

Brent

On H4, the situation has hardly changed. The quotations are forming a consolidation channel. After a test of a long-term Fibo level of 76.0% and a divergence, the wave of decline is just nearing the first target level of 23.6% (58.00). The next goals might be 38.2% (49.94) and 50.0% (43.46). A breakaway of the high of 71.07 might signal the end of the correction and further growth to the fractal high of 87.09.

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Ichimoku Cloud Analysis 12.04.2021 (EURUSD, GBPUSD, EURGBP)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1889; 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 1.1860 and then resume moving upwards to reach 1.2075. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.1775. In this case, the pair may continue falling towards 1.1665.

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Forex Technical Analysis & Forecast 14.04.2021

EURUSD, “Euro vs US Dollar”

After rebounding from 1.1877, EURUSD has broken 1.1920 to the upside. Possibly, today the pair may grow to reach 1.1967 and then start a new correction to test 1.1920 from above. Later, the market may resume trading upwards to reach 1.1980 and then form a new descending structure with the first target at 1.1860.

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Japanese Candlesticks Analysis 16.04.2021 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the ascending tendency continues. After forming several reversal patterns, such as Harami, close to the resistance level, XAUUSD may reverse and start a new pullback towards the support area. In this case, the correctional target may be at 1753.00. At the same time, an opposite scenario implies that the price may continue growing to reach 1785.00 without testing the support level.

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Murrey Math Lines 20.04.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

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 resume moving 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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