Forex Analysis & Reviews: US shares higher at close of trade; Dow Jones up 0.55%

At the close in New York, the Dow Jones gained 0.55%, the S&P 500 rose 0.62% and the NASDAQ Composite rose 0.85%.

In the leaders of growth among the components of the Dow Jones at the end of today's trading were shares of Caterpillar Inc, which increased in price by 4.05 points (2.00%), to close at around 206.20. Dow Inc added 1.68% or 0.91 points to end trade at 55.14. Honeywell International Inc rose 1.67% or 3.38 points to close at 205.22.

The biggest losers were Visa Inc Class A, which fell 0.61% or 1.34 points to end the session at 216.62. Merck & Company Inc is up 0.56% or 0.43 points to end at 75.73 and Walmart Inc is 0.22% or 0.31 points down to 139. , 49.

The leaders of growth among the components of the S&P 500 at the end of today's trading were Tesla Inc, which rose 5.76% to 1.067.00, ViacomCBS Inc, which gained 4.80% to close at 30.58, and shares Micron Technology Inc rose 4.52% to end the session at 94.42.

The biggest losers were Coterra Energy Inc, which fell 1.82% to close at 19.39. Hologic Inc shed 1.42% to end the session at 76.12. Pfizer Inc was down 1.41% to 58.71.

The growth leaders among the components of the NASDAQ Composite index at the end of today's trading were shares of 22nd Century Group Inc, which rose 38.64% to the level of 3.050, Oncology Institute Inc, which gained 38.46%, to close at 10.44, and Pasithea Therapeutics Corp rose 36.73% to trade at 2.01 at the close.

The biggest losers were InnovAge Holding Corp, which fell 35.64% to close at 5.31. Jupiter Wellness Inc shed 24.89% to trade at 0.954. American Virtual Cloud Technologies Inc was down 24.00% to 1,900.

On the New York Stock Exchange, the number of securities that went up (2,289) exceeded the number of securities that closed in the red (971), while the quotations of 126 shares remained virtually unchanged. On the NASDAQ stock exchange 2679 companies rose in price, 1163 declined, and 181 remained at the level of the previous close.

The CBOE Volatility Index, which is based on S&P 500 options trading, fell 3.60% to 17.96, hitting a fresh monthly low.

Gold Futures for February delivery was up 0.42% or 7.65 to $ 1.809.85 a troy ounce. Elsewhere, WTI crude for February delivery rose 1.32%, or 0.96, to $ 73.72 a barrel. Futures contracts for Brent oil for March delivery rose 0.01%, or 0.01, to trade at $ 76.61 a barrel.

Meanwhile, on the Forex market, EUR / USD was up 0.03% to hit 1.1331, while USD / JPY was up 0.04% to hit 114.41.

The US Dollar Index Futures was down 0.02% at 96.035.

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Forex Analysis & Reviews: Forecast for EUR/USD on December 28, 2021

For the fourth day, the euro is moving in a narrow sideways direction under the MACD indicator line on the daily scale chart. And the longer this sideways trend lasts, the more likely the price will break above this indicator line (1.1350). The signal line of the Marlin Oscillator moves strictly horizontally above the consolidation range marked with a gray rectangle, which ultimately creates a forecast for the following technical picture: the price will break above the MACD line (1.1350), but for a very short time, return below it, the Marlin Oscillator will return to its own consolidation and the price will continue to decline towards the target of 1.1170. In this case, the target level 1.1415 may not be reached. But if the euro is able to overcome the situation, breaks above 1.1415, then further growth will continue to the target level of 1.1572.

On the four-hour scale chart, the price settled above the MACD line, the Marlin Oscillator, after a false move into the negative zone, returned to the positive area. These are signs that the price is preparing to jump up to the 1.1350 resistance with the intention of breaking it.

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

Analysis are provided byInstaForex.

Forecast for EUR/USD on December 30, 2021

Yesterday the euro traded in a range of more than 90 points, overcoming the resistance of the balance and MACD indicator lines at the end of the day. An unpleasant surprise did take place.

But we are in no hurry to announce that the price will mark near any bullish target level, and here the nearest target is 1.1415. The signal line of the Marlin Oscillator can turn down, and the price can just as easily return to yesterday's low. The reason for this will be the fact that the euro grew without a pronounced risk appetite in adjacent markets. US stocks showed mixed closings. US government bonds have undergone sales, but this trend has been going on for ten days and raises new questions - where does the money go from the US market? There is no answer to this question yet. The Treasury is rapidly increasing its debt and formally this should keep the demand for the dollar. The current debt is 29.443 trillion dollars. In the end, the euro has been moving sideways for a month, and until the price breaks out of this sideways side (1.1222-1.1383), it is too early to link the euro's movements with external events.

On the four-hour chart, the indicator of the Marlin Oscillator moves horizontally, the price periodically goes above and below the line. The Marlin Oscillator is also in a wide-range sideways trend, at the moment it shows an intention to turn down from the positive area.

So, yesterday's rise in prices showed the uncertainty of the euro. And no one knows when it will end. January and February can be challenging geopolitically.

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

Forex Analysis & Reviews: Forecast for EUR/USD on January 3, 2022

The euro rose by 64 points on Friday, the last day of 2021. It tested the signal level of 1.1383, and this morning it is moving down from it. A reversal under the MACD line, below 1.1333, will set the downward momentum to the lower border of the free roaming range (1.1222).

On the four-hour chart, the price is developing in a growing position, since the price is above the balance (red) and MACD (blue) indicator lines. The MACD line is an indicator of the local trend, and it generally moves horizontally.

In this case, the main indicator of market sentiment will be price taking above or below this line with a confirmation signal from the Marlin Oscillator. At the moment, we see a signal for growth, but Marlin began to show a downward reversal almost vertically, this is a sign of price attack on support (1.1333). And since the MACD line (1.1316) is located below the level of 1.1333, then for the complete formation of conditions for a decline, it is necessary to consolidate below this indicator line.

An exit above 1.1383 could create a reactionary rally towards the 1.1415 target level. Consolidating above it will become a condition for further growth to the level of 1.1570 (January 2019 high).

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

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for EUR/USD on January 5, 2022

Yesterday's trading range for the euro was 51 points. With its upper shadow, the price tried to reach the resistance of the MACD line, while it ended the day under the balance indicator line with a black candle. Now the price has actually settled below both indicator lines. The Marlin Oscillator approached the zero line and is preparing to move into the negative zone. When it does this, the price will be completely in a downward position. The target of the movement is 1.1170. Overcoming the level opens the second target at 1.1050.

The price also tried to rise above the MACD line on the four-hour chart; it succeeded, but for a very short time. At the same time, another signal has appeared for the bears - a price reversal to the downside after an unsuccessful attack on resistance. The Marlin Oscillator is in negative territory, the general trend is downward.

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

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for EUR/USD on January 7, 2022

The euro slightly fell last Thursday, consolidating ahead of today's US employment data. The forecast is very optimistic: 400,000 new jobs are expected in the non-agricultural sector in December, the unemployment rate may decrease from 4.2% to 4.1%.

The price settled below the MACD indicator line on the daily chart, the Marlin Oscillator is still hesitating to cross the border with the bears' territory. This will probably happen if the data is not very different from the forecast for the worse - weekly applications for unemployment benefits in the last month came out flat and, we believe, non-farms will also be in the forecast area. As a result, we expect the euro to decline in the next few days to the target level of 1.1170 - to the support area of June 2020.

The price also settled below the MACD line on the four-hour scale, the Marlin Oscillator is already in the negative area. There is pressure on the price, we are waiting for the resolution of the situation with the release of news.

The alternative scenario assumes the price settling above the level of 1.1310 and further growth to the upper border of the 1.5-month range at 1.1222-1.1383.

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

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for EUR/USD on January 11, 2022

Data on unemployment in the euro area for November was published on Monday, they were in line with the forecast - 7.2% against 7.3% in October. But during the day, stock indices fell across the eurozone and the US, and only recovered slightly closer to the close. The euro followed these trends and eventually closed the day with a black candle, but above the MACD indicator line on the daily chart, which it had already overcome.

In general, the technical situation does not change; the price is between the support at 1.1310 (MACD line) and the resistances at 1.1383 and slightly above 1.1415. The 1.1383 level is the upper border of the one and a half month sideways trend, the 1.1415 level is a signal for further price growth to 1.1570. Consolidating below 1.1310 will give it the opportunity to first work out the lower border of the range (1.1222), and then attack the support at 1.1170.

On the four-hour scale, at first glance, the situation seems to be ascending - the price is above both indicator lines and the Marlin Oscillator is in the growing trend zone, but this situation has been changing regularly for a month and a half. We are waiting for the price to settle above 1.1383, or below 1.1310 on a daily scale.

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Forex Analysis & Reviews: Forecast for EUR/USD on January 13, 2022

Yesterday the euro crossed the area above the nearest bullish target level of 1.1415, showing a total rise of 75 points. The growth, however, did not occur at very high volumes, although at above average. This suggests that the withdrawal of bears' stops - short positions, gained during the period of consolidation since December last year, has not yet happened, these stops are located higher. And if there was an attack on the nearest orders, it will most likely continue. In this case, the euro's target is 1.1570 - the peak of January 2019.

On the four-hour chart, the price has consolidated above the target level of 1.1415. The Marlin Oscillator is in the overbought zone, showing an intention to exit it. The price is likely to sag a little before further growth, it will be supported by the level 1.1415, while Marlin will get a release and later continue to move upward.

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

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for January 17, 2022

The corrective consolidation is now complete and the underlying impulsive rally higher to our first target level of 160.54 is taking place. If bulls assert strength, GBP/JPY may go higher to our second target level of 163.39.

Keep the focus on the upside and a break above minor resistance at 157.69 for a continuation towards 160.54 and maybe even higher.

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

Analysis are provided byInstaForex.

Forex Analysis & Reviews: Forecast for EUR/USD on January 19, 2022

The euro fell by 85 points on Tuesday and came close to the support of the MACD indicator line on the daily chart (1.1305). Crossing this support will mean opening the way to the target of 1.1170 and below (1.1050). The Marlin Oscillator has reached the zero line - the border with the territory of the downward trend, which, along with the proximity of the price to the MACD line, indicates a high probability of an upward reversal - to overcome the target level of 1.1415 and further advance to 1.1570. Moreover, today the price may not choose a further direction, since after yesterday's strong fall, there is a high probability of consolidation. The 1.1305 level is near the August 2018 low, that is, it is quite strong.

On the four-hour chart, the price is below both indicator lines, the Marlin Oscillator shows a weak desire to reverse. We are waiting for the formation of consolidation before the support of 1.1305 and the subsequent choice by the European currency of the further medium-term direction.

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Forex Analysis & Reviews: Forecast for EUR/USD on January 21, 2022

Yesterday, the euro was hit by a sell-off as investors withdrew from risky assets. The US stock index S&P 500 fell by 1.10%. The price has reached the support of the MACD indicator line on the daily scale chart. The oscillator is in the downward trend zone. But, despite the increased pressure on the quotes of the single currency, the question of an upward reversal looks sharper than yesterday, since touching the MACD line from above looks like testing it before medium-term growth. The first growth target is 1.1415, then 1.1570. Consolidating below the MACD line will open a bearish target of 1.1170.

The price converges with the Marlin Oscillator on the four-hour chart. Actually, this circumstance is the main sign of a price reversal to the upside. But the euro remains under pressure, you need to wait at least two more white candles for the divergence to take place, so that there is a visual price reversal. In the meantime, we are waiting for the development of the situation.

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Forex Analysis & Reviews: Indicator analysis. EUR/USD daily review on January 25, 2022

Trend analysis (Fig. 1) EUR/USD is likely to decline on Tuesday, from 1.1326 (closing of yesterday's daily candle) to 1.1299, which is the 61.8% retracement level (red dotted line). After that it will return to the 14.6% retracement level at 1.1327 (yellow dotted line), then go further upwards.

Fig. 1 (daily chart)
Comprehensive analysis:
Indicator analysis - downtrend
Fibonacci levels - downtrend
Volumes - downtrend
Candlestick analysis - downtrend
Trend analysis - uptrend
Bollinger bands - downtrend
Weekly chart - uptrend

Conclusion: EUR/USD will dip from 1.1326 (closing of yesterday's daily candle) to the 61.8% retracement level at 1.1299 (red dotted line), then go to 1.1327, which is the 14.6% retracement level (yellow dotted line). It may go further up after reaching that level.

Alternatively, the pair could move from 1.1326 (closing of yesterday's daily candle) to the lower fractal at 1.1290 (daily candle from 01/24/2022), then climb further to 1.1327, which is the 14.6% retracement level (yellow dotted line).

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