Forex Analysis & Reviews: ETHUSD, Potential For Bearish drop | 21st June 2022

Description On the H4, with price moving below our ichimoku cloud, we have a bearish bias that price will drop to our 1st support at 702 in line with the 78.6% Fibonacci projection level from our 1st resistance at 1282 in line with the horizontal pullback resistance is. Alternatively, price may not break structure and head for our 2nd resistance at 1739 where the pullback resistance and 23.6% Fibonacci retracement.

Trading Recommendation
Entry: 1282 Reason for Entry: Horizontal pullback resistance
Take Profit: 702Reason for Take Profit:78.6% Fibonacci projection
Stop Loss: 1739 Reason for Stop Loss:Horizontal pullback resistance and 23.6% Fibonacci retracement

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Forex Analysis & Reviews: USDCHF, Potential For Bullish rise | 23rd June 2022

Description : On the H4, with the price expected to bounce off the RSI indicator, we have a bearish bias that price will rise from our 1st support at 0.95475 where the horizontal swing low support and 100% Fibonacci projection is to our 1st resistance at 0.97148 in line with the horizontal swing high resistance. Alternatively, price may break structure and head for 2nd support at 0.94114 where the 127.2% Fibonacci extension is.

Trading Recommendation
Entry: 0.95475 Reason for Entry: Horizontal swing low support and 100% Fibonacci projection
Take Profit: 0.97148Reason for Take Profit:Horizontal swing high resistance
Stop Loss: 0.94114Reason for Stop Loss:127.2% Fibonacci extension

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Forex Analysis & Reviews: USDCAD, Potential For Bullish Bounce | 27th June 2022

On the H4, with price expected to bounce off the stochastics indicator, we have a bullish bias that price will rise from our 1st support at 1.28647 where the horizontal swing low support and 38.2% Fibonacci retracement is to our 1st resistance at 1.30128 in line with the horizontal swing high resistance. Alternatively, price may break structure and head for 2nd support where the horizontal pullback support and 61.8% Fibonacci retracement.

Trading Recommendation
Entry: 1.28647 Reason for Entry: Horizontal swing low support and 38.2% Fibonacci retracement
Take Profit: 1.30128
Reason for Take Profit: Horizontal swing high resistanceStop Loss: 1.27189 Reason for Stop Loss:
Horizontal pullback support and 61.8% Fibonacci retracement

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Forex Analysis & Reviews: EURUSD Potential For Bearish Continuation | 29th June 2022

On H4, with price recently breaking the ascending trendline, we have a bearish bias that price will continue to drop from the 1st resistance at 1.06047 at the pullback resistance in line with the 61.8% fibonacci projection and 61.8% fibonacci retracement to the 1st support at 1.03541 in line with the multiple horizontal swing lows. Alternatively, price may reverse off the 1st resistance and rise to the 2nd resistance at 1.07814 at the horizontal swing high in line with the 50% fibonacci retracement and 100% Fibonacci projection.

Trading Recommendation
Entry: 1.06047
Reason for Entry:
Pullback resistance in line with the 61.8% fibonacci projection and 61.8% fibonacci retracementTake Profit: 1.03541
Reason for Take Profit:Multiple horizontal swing lowsStop Loss: 1.07814 Reason for Stop Loss:
Horizontal swing high in line with the 50% fibonacci retracement and 100% Fibonacci projection.

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Forex Analysis & Reviews: Forecast for EUR/USD on July 1, 2022

Mixed data on Europe and the US came out on Thursday, which led to a breakthrough of counter-dollar currencies into correction, the dollar index lost 0.39% on the day. If you look closely at adjacent markets, and there the yield on 5-year US government bonds decreased from 3.13% to 3.04% and the S&P 500 fell by 0.88% while gold fell by 0.55%, then the idea arises that the growth of the euro and other currencies occurred primarily due to the short-term weakness of the dollar itself. This weakness may extend the corrective growth of the euro to the MACD line on the daily chart (1.0515), but then we are waiting for a new round of weakening of the single currency.

The eurozone CPI for June will be released today, the forecast for it is 8.4% Y/Y against 8.1% Y/Y in May. The US ISM index of business activity in the manufacturing sector for June will also be published, the forecast for which is 54.9 against 56.1 earlier. The discrepancy in the data may help the euro to technically finalize the correction.

On the EUR/USD daily chart, the price is near the target level of 1.0493, which was not worked out yesterday, this is a technical factor of the price's desire to go above this resistance to the MACD line (1.0515). The price could also fall from current levels if the dollar's weakness was due to speculative reasons, then large players will open long positions on the dollar due to the positions of euro optimists. Ultimately, we are still waiting for the euro at the target level of 1.0340 - at the low of January 2017.

The price has settled above the MACD indicator line on the four-hour chart, but the Marlin Oscillator is still in the negative zone. As in the daily chart, the current situation is not defined. Consolidating below the MACD line will increase the chances of moving downward, settling above the level of 1.0493 will slightly delay the euro with a reversal into a new wave of weakening.

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

In the absence of American players on the market yesterday, the euro did not fall, and growth is planned this morning. The correction will probably continue to the target level of 1.0493 with a slight overlap, until the MACD indicator line of the daily scale (1.0515) is worked out.

The daily Marlin Oscillator is turning up, helping the correction. From the indicated resistances, a price reversal to the target level of 1.0340 is likely. If the price settles above 1.0493 (this is an alternative), the price will continue to rise to the target level of 1.0600. Yesterday's small attempt to increase the price was stopped by the MACD indicator line of the four-hour scale. The Marlin Oscillator is currently crossing the border with the territory of the growing trend, which helps the price to re-attack the MACD line (1.0454). Breaking this line will open the 1.0493 target.

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

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GBPUSD Potential For Bearish Continuation | 7th July 2022

On the H4, with prices moving below the ichimoku indicator and within the descending channel, we have a bearish bias that price will drop from our 1st resistance at 1.19313 where the horizontal pullback resistance and 61.8% fibonacci projection are to our 1st support at 1.18235 where the 161.8% fibonacci extension, -61.8% fibonacci expansion and 61.8% fibonacci projection are. Alternatively, price could rise to 2nd resistance at 1.19762 in line with the pullback resistance, 100% fibonacci projection and 38.2% fibonacci retracement.

Trading Recommendation

Entry: 1.19313

Reason for Entry:

Horizontal pullback resistance

Take Profit: 1.18235

Reason for Take Profit:161.8% fibonacci extension, -61.8% fibonacci expansion and 61.8% fibonacci projection

Stop Loss: 1.19762

Reason for Stop Loss:

Pullback resistance, 100% fibonacci projection and 38.2% fibonacci retracement

Forex Analysis & Reviews: Technical Analysis of GBP/USD for July 11, 2022

Technical Market Outlook: The GBP/USD pair has retraced 61% of the last wave down and hit the level of 1.2054, however after the pull-back the bulls are still trying to resume the bounce. Despite this bounce, the weak and negative momentum on the H4 time frame chart supports the bearish outlook. The supply zone located between the levels of 1.2160 - 1.2187 is still the main short-term obstacle for bulls that needs to be broken if the rally is expected to be continued.

Weekly Pivot Points:
WR3 - 1.2601
WR2 - 1.2311
WR1 - 1.2169
Weekly Pivot - 1.2022
WS1 - 1.1879
WS2 - 1.1732
WS3 - 1.14433

Trading Outlook: The price broke below the level of 1.3000 quite long time ago, so the bears enforced and confirmed their control over the market in the long term. The Cable is way below 100 and 200 WMA , so the bearish domination is clear and there is no indication of trend termination or reversal. The bulls are now trying to start the corrective cycle after a big Pin Bar candlestick pattern was made on the weekly time frame chart. The next long term target for bears is seen at the level of 1.1989. Please remember: trend is your friend.

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

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Forex Analysis & Reviews: USDCHF, Potential For Bullish Bounce | 13th July 2022

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 0.97233 where the horizontal pullback support is to our 1st resistance at 1.00485 in line with the 100% Fibonacci projection is. Alternatively, price may not break 1st support and head for 2nd support at 0.95268 where the horizontal pullback support.

Trading Recommendation
Entry: 0.97233 Reason for Entry: Horizontal pullback support Take Profit: 1.00485
Reason for Take Profit: 100% Fibonacci projection
Stop Loss: 0.95268
Reason for Stop Loss:Horizontal pullback support

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

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Forex Analysis & Reviews: Forecast for EUR/USD on July 15, 2022

Yesterday, the euro fulfilled its task - it reached the target support of 0.9950. But the price did not settle under 1.0020 on a daily scale. The signal line of the Marlin Oscillator, having turned up from the lower border of its own descending channel, continues to grow.

Tension is being created on the market, which may turn into a corrective growth up to 1.0170. Visually, at this moment, the oscillator line will touch the upper border of the channel. If the movement of the price and the oscillator are synchronized by that moment, we expect a reversal into a new downward wave from 1.0170. If the price can overcome the support at 0.9950 immediately, then the next target will be the level of 0.9850.

The H4 chart also shows the tension and ambiguity of the situation. The Marlin Oscillator took a neutral state near the zero line, the price returned to the consolidation range on the 12th-14th. It is possible that a full-fledged correction will not take place, the growth can be stopped by the MACD indicator line (1.0105), then the price stop at 1.0020 will continue in the form of a normal consolidation. In this situation, it is advisable to wait a bit, perhaps wait out the correction in order to resume short positions with less risk.

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

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Forex Analysis & Reviews: Forecast for EUR/USD on July 20, 2022

Yesterday's rumor in the media about the likely increase in the European Central Bank rate on Thursday by 0.50% against the expected 0.25% strengthened the corrective growth of the euro, and with growth in other markets. This news was superimposed and another - the central bank of Switzerland may raise the rate by 0.50-0.75% in September. The US stock index S&P 500 jumped 2.76%.

Since we consider the euro's growth to be corrective, and the correction from the movement from May 30-31, the target levels are the following: 1.0360 - a low of June 15, 1.0470 - a low of April 28 (or June 22), 1.0600 - resistance June 16-28.

The Marlin Oscillator has left its downward channel to the upside, its potential for further growth does not look very large, since the growth is steep and it will quickly reach the overbought zone.

The price is growing above the balance and MACD indicator lines on the four-hour chart, the MACD line itself (blue) is turning into growth. The Marlin Oscillator fell a bit on the approach to the overbought zone and is ready to continue moving up. We are waiting for the development of growth to the first target at 1.0360. The daily scale MACD line approaches it. It is possible that all this investor optimism will end even at 1.0360.

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

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Forex Analysis & Reviews: Forecast for EUR/USD on July 22, 2022

Yesterday, the European Central Bank raised the main rate from 0.00% to 0.50%. Preliminary preparation of the market through the media was successful - by now the euro is at the level of the ECB release - market participants were not inspired by this decision. As a result, we observe the traditional market rule - if the asset does not grow, then it will fall.

For a medium-term fall of the euro, you need to go under the support level of 1.0150. Targets will open: 1.0020, 0.9950, 0.9850. The Marlin Oscillator is turning down on its approach to the neutral zero level. The signal line of the oscillator fits into the framework of the descending channel.

The price is still above the balance and MACD indicator lines on the H4 chart. The MACD line already cancels the intention to turn up, now it is moving horizontally. The Marlin Oscillator, after sharp fluctuations above the zero line, breaks it down. We are waiting for further development of the euro's downward movement. Supports: 1.0150, 1.0092, 1.0020, 0.9950

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

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