Forex Technical Analysis & Forecast 13.04.2022

EURUSD, “Euro vs US Dollar”

Having broken 1.0838 to the downside and tested this level from below, EURUSD is falling towards 1.0787 and may later grow to re-test 1.0838. After that, the instrument may start a new decline with the target at 1.0750.

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Japanese Candlesticks Analysis 15.04.2022 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming a Harami reversal pattern close to the resistance level, USDCAD is reversing in the form a new descending impulse. In this case, the downside target may be at 1.2510. However, an alternative scenario implies that the asset may correct to rebound from the resistance level at 1.2660 and then resume the downtrend.

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Murrey Math Lines 19.04.2022 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to test 4/8, break it, and then continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 5/8 to the upside. After that, the instrument may reverse and grow towards 6/8.

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Ichimoku Cloud Analysis 21.04.2022 (EURUSD, BRENT, GBPUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is rebounding from the cloud’s upside border at 1.0897; bears have failed to fix the price below the support area at 1.0805. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0855 and then resume moving upwards to reach 1.1095. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.0780. In this case, the pair may continue falling towards 1.0690. Also, there is a potential for the formation of an upside-down Head & Shoulders reversal pattern with the target at 1.1065. While forming the pattern, the asset may fall to test 1.0820 and complete the pattern’s right “shoulder” there.

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Ichimoku Cloud Analysis 25.04.2022 (EURUSD, AUDUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

In the monthly chart, EURUSD is breaking the support area; it is fixing below the downside borer of a Triangle pattern and may force a pattern materialisation with the target at 0.8800. However, bears still have two important support levels, at 1.0635 and 1.0300 respectively. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0750 and then resume moving downwards to reach 1.0545. Another signal in favour of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.0880. In this case, the pair may continue growing towards 1.0970.

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Murrey Math Lines 28.04.2022 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is approaching the “overbought area”. In this case, the price is expected to test 8/8, rebound from it, and then resume falling to reach the support at 6/8. However, this scenario may be cancelled if the price breaks the resistance at 8/8 to the upside. After that, the instrument may reverse and grow towards +1/8.

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Forex Technical Analysis & Forecast 04.05.2022

EURUSD, “Euro vs US Dollar”

After finishing the correctional wave at 1.0655, EURUSD is forming a new descending structure to break 1.0407 and may later continue trading downwards with the target at 1.0373.

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Japanese Candlesticks Analysis 06.05.2022 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed a Harami reversal pattern close to the resistance area during the pullback. At the moment, EURUSD is reversing in the form of a new descending impulse. In this case, the downside target may be at 1.0440. However, an alternative scenario implies that the price may correct to rebound from the resistance area at 1.0600 and then resume the descending tendency.

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Ichimoku Cloud Analysis 12.05.2022 (EURUSD, USDCAD, USDJPY)

EURUSD, “Euro vs US Dollar”

EURUSD has fixed below the bullish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0520 and then resume moving downwards to reach 1.0285. Another signal in favour 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 1.0635. In this case, the pair may continue growing towards 1.0725.

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Ichimoku Cloud Analysis 16.05.2022 (EURUSD, AUDUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

EURUSD is testing Tenkan-Sen and Kijun-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0445 and then resume moving downwards to reach 1.0115. Another signal in favour 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 1.0615. In this case, the pair may continue growing towards 1.0705.

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Forex Technical Analysis & Forecast 18.05.2022

EURUSD, “Euro vs US Dollar”

After finishing the ascending wave at 1.0412 and then forming a new consolidation range around this level, EURUSD has broken it to the upside to extend the correction up to 1.0562; right now, it is forming the first descending impulse towards 1.0495. Later, the market may break this level and continue trading downwards with the target at 1.0430.

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Japanese Candlesticks Analysis 20.05.2022 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support level, USDCAD is reversing in the form of another ascending impulse. In this case, the upside target may be at 1.2900. However, an alternative scenario implies that the asset may fall to rebound from the support level at 1.2750 first and then resume the ascending tendency.

Read more - Japanese Candlesticks Analysis USDCAD, AUDUSD, USDCHF