Forex Analysis & Reviews: Elliott wave analysis of Litecoin for November 9, 2022

We have seen a deeper-than-expected correction here, as we have seen a correction to the 78.6% corrective target near 53.72, but then it's just in the middle of the fourth wave of one lesser degree, which is normally what we would expect to see. Therefore, we expect Litecoin to start the next journey higher towards the S/H/S bottom target at 97.38.

Only an unexpected break below the key support at 48.41 will invalidate our bullish scenario for the expected rally higher to 97.38 and above.

*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: Indicator analysis: Daily review of EUR/USD on November 11, 2022

Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 1.0208 (close of yesterday's daily candle) to 1.0246, the 85.4% retracement level (yellow dotted line). When testing this level, a downward pullback is possible.

Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis - up;
Fibonacci levels - up;
volumes - up;
candlestick analysis - up;
trend analysis - up;
Bollinger bands - up;
weekly chart - up.

General conclusion: Today, the price may move upward from the level of 1.0208 (close of yesterday's daily candle) to 1.0246, the 85.4% retracement level (yellow dotted line). When testing this level, a downward pullback is possible.

Alternatively, the price may move upward from the level of 1.0208 (close of yesterday's daily candle) to the upper limit of the Bollinger band indicator at 1.0308 (black dotted line). Upon reaching this level, a downward movement is possible with the target of 1.0162, the 14.6% retracement level (blue dotted line).

*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: AUDUSD Potential for Bearish Drop | 15th November 2022

With the price moving above the ichimoku cloud on the H4, we have a bullish bias that the price will rise to the first resistance at 0.67711, which is in line with the 161.8% fibonacci line. If the first resistance is broken, the second should be at 0.69161, the previous swing high. Alternatively, the price could fall to the first support level at 0.65398, which is marked by the 38.2% Fibonacci line.

Trading Recommendation
Entry: 0.67711
Reason for Entry: 1st resistance line
Take Profit: 0.65398
Reason for Take Profit:
1st support line
Stop Loss: 0.69161
Reason for Stop Loss:
Previous swing high and 1st resistance line

*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: Technical Analysis of Nasdaq 100 Index Intraday Price Movement, Thursday November 17, 2022

On 4 hour chart Nasdaq 100 Index seems visible if #NDX still moving within its Bullish Pitchfork channel even so because of its failure to touch the top line of the Bullish Pitchfork channel it can be considered as Hagopian Rules which confirms that in the near future #NDX will depreciated in the near future where it is also confirmed by the emergence of the Ascending Broadening Wedge pattern so that in the near future #NDX will try to test and broke below the level 11670,5 if this level is successfully broken then #NDX has the potential to fall to 11121.8 as the main target and 10789.1 as the next target to be tested with a note that on its way to the target level it does not return to its initial bias (Bull) until it exceeds above 12082. because if this level is successfully broken, it is very likely that the downside scenario described above will become invalid.

*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: Technical Analysis of Intraday Price Movements of the EUR/GBP Cross Currency Pair November 21, 2022

On the 4 hour chart EUR/GBP cross Currency pair seems to appear.

1. Deviations between price movements with the CCI indicator.
2. Ascending Broadening Wedge.
3. Bearish Wolve Waves

Based on the three information above it can be confirmed that in the near future EUR/GBP will try to get down below the level 0,8689 where if this level successfully penetrated will potentially bring EUR/GBP down to ETA Line from Wolve Waves and/or to the level 0,8589 as a target that will aim for with a note that if on his way to these levels there is no upward correction movement that penetrates above the 0.8775 level because if this level is successfully broken above, it is very likely that the scenario described previously will potentially become invalid.

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

Analysis are provided by InstaForex.

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Forex Analysis & Reviews: Technical Analysis of Intraday Price Movements of Commodity Currency Pairs, NZD/USD Wednesday, November 23, 2022

On the 4 hour chart kiwi shows that hidden deviations appear between price movements and the CCI indicator which confirms if in the near future NZD/USD will have the potential to rally upwards to the nearest liquidity gathering place, namely in the Equal High area, namely at the level of 0.6201 but if the CCI level drops below the level 0 and/or level 0.6962 is exceeded, it is very likely for the scenario described earlier cancel by itself.

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

Analysis are provided by InstaForex.

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Forex Analysis & Reviews: Future interest rate reductions by the Bank of England are also possible.

Currently, the Bank of England is a "dark horse." It is difficult to predict how much longer the British regulator will raise its rate, even though it is doing so slower than the Fed and the ECB. It decided to increase the rate by 75 basis points at the most recent meeting, a record increase over the previous 12 to 13 years and the first increase during the current tightening monetary policy cycle. Although the Bank of England rate has already increased to 3%, inflation in the UK is still rising, and there are currently no signs that it will slow down. One could anticipate at least a slight slowdown in the consumer price index with such a rate value, but keep in mind that there is a "time lag" that could take up to 3–4 months for the economy to fully adjust to the most recent (and subsequent) PEPP tightenings.

Inflation in the UK may therefore start to slow down soon, but I believe it will only be able to disappear at a 3% rate, even below the 10% threshold. It increased to 11.1% in October, and Andrew Bailey recently predicted that the peak value might reach 13% or 15%. The fact that British inflation has yet to display any discernible slowdown that would be considered the start of a fall is a major disadvantage. Based on this, it can be assumed that the Bank of England's relatively high rate is already impacting the economy and inflation. However, no one can say with certainty how significant this impact is. There may be an impact, but it is probably insignificant in light of the factors that drive monthly price increases. A 3% rate may only stop prices from increasing even more quickly. Since I cannot respond, it is too early to discuss the Bank of England's final interest rate.

In light of the current situation, the regulator should increase the rate by 75 basis points at least twice more, bringing it to 4.5%. After that, he can follow the Fed's lead and raise the rate gradually while he waits for inflation to respond to three or four rounds of extremely strict PEPP tightening. However, given the current state of the British economy, analysts now have serious doubts about the Bank of England's ability to take such actions. According to Andrew Bailey, the recession "has already begun" and at the same time "has just begun" due to the most recent GDP report for the third quarter showing a contraction. It can last for up to two years (assuming no further economic shocks), and it is difficult to predict how much the British GDP will decline due to high rates.

According to Dave Ramsden, the deputy governor of the Bank of England, it is imperative to respond to the state of the British economy. If things continue to go poorly, it will be prudent to lower the rate to prevent making the already challenging financial situation for households even worse. The objective of bringing inflation back to 2% remains the same, but the Bank of England will need to monitor economic expansion.

The construction of a new downward trend segment is predicated on the wave pattern of the pound/dollar instrument. I cannot suggest purchasing the instrument immediately because the wave marking already permits the development of a downward trend section. Sales are more accurate now that the targets are close to the 200.0% Fibonacci level.

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Forex Analysis & Reviews: ETHUSD Potential For Bearish Continuation | 29th November 2022

Looking at the H4 chart, my overall bias for ETHUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market .If this bearish momentum continues, expect price to possibly head towards the 1st support at 1071.11, where the -previous swing low is located. In an alternate scenario, price could possibly head back up towards the 1st resistance level at 1291.84, where the 38.2% Fibonacci line is located. Trading Recommendation Entry: 1302.56 Reason for Entry: 1st resistance line Take Profit:1071.11 Reason for Take Profit: 1st support line Stop Loss: 1677.00 Reason for Stop Loss: Slightly above where the 2nd resistance line is located.

*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: EUR/USD. Overview for December 1, 2022

On Wednesday, there was no movement in the EUR/USD currency pair. We wouldn't have been shocked if this situation had occurred on Monday or Tuesday because there hasn't been a single significant event or report published lately. On Wednesday, there were a ton of macroeconomic statistics. Still, traders paid no attention to the report on European inflation, although it was just as alarming as the last one on American inflation, which sparked this rally. Yet again, we are convinced that the impact of European statistical data on trader sentiment is minimal. But the main point is that quite significant reports from abroad were disregarded yesterday. The ADP report could cause a market reaction if everything in the GDP report is clearer because such reports always come out with three estimates. After the first estimate, it is clear what to expect from the value for a particular quarter.

And it's puzzling why the market didn't find anything interesting in them when we consider all the information and data received. As a result, the pair is still relatively close to the moving average line, and it is still determining the direction of its future movement. For the past week and a half, we have been anticipating a significant downward correction, but this calls for a fix that is at least below the moving average. Formally, the consolidation was visible on Tuesday, but 20 points hardly qualify as a confident result. We focus on the second rebound from Murray level "6/8"-1.0498. Two rebounds from this level could signal the start of a corrective movement. As you can see, traders were unmoved by yesterday's data, so we now have to wait for Friday's nonfarm payrolls and unemployment figures.

In the third quarter, US GDP increased.

Since the GDP report typically includes three estimates, as we mentioned above, traders know what to expect before the second or third estimate is released. However, yesterday's report caught some people off guard because, contrary to expectations of +2.6–2.7% q/q, the actual value was 2.9%. This strong deviation should have benefited the value of the US dollar. Not only was the EU inflation report disregarded, but so was a rather significant GDP with an unexpected value. Even the ADP report received no response. Therefore, even though we think traders still have access to the factors supporting the US currency, they are not yet eager to repurchase the dollar.

As a result, the third quarter of the American economy displays very positive dynamics and can easily compensate for the "disadvantages" of the first two quarters. If this occurs, the Fed will have many more opportunities to raise interest rates as much as it wants. It is again good for the dollar because if inflation stops falling, the Fed will still have opportunities to tighten monetary policy more than expected. It will then become very difficult to talk about a recession in the US economy. Additionally, the fact that there isn't a recession is excellent news for the American economy. Similar to how it is for every other economy in the world. For instance, it is unlikely that the European economy will be spared from such "happiness." Additionally, a slower inflation rate in the Eurozone might encourage the ECB to raise the key rate gradually over the next few months. The euro currency may experience the same fate as the dollar, which has been declining for several months due to the Fed's potential decision to raise interest rates more gradually than previously. Although there are more and more signs pointing to a new rise in the dollar's value, more precise technical signals are still needed to test this theory. We will only analyze Jerome Powell's speech today because it is crucial to know how the market will respond.

As of December 1, the euro/dollar currency pair's average volatility over the previous five trading days was 103 points, considered "high." So, on Thursday, we anticipate the pair to fluctuate between 1.0331 and 1.0538 levels. The Heiken Ashi indicator's turning downward indicates a new phase of the corrective movement.

Nearest levels of support
S1 – 1.0376
S2 – 1.0254
S3 – 1.0132

Nearest levels of resistance
R1 – 1.0498
R2 – 1.0620
R3 – 1.0742

Trading Suggestions:

The EUR/USD pair is still positioned close to the moving average. To avoid the Heiken Ashi indicator turning down, new long positions with targets of 1.0498 and 1.0538 should now be considered. Only after fixing the price below the moving average line with targets of 1.0254 and 1.0132 will sales become significant.

Explanations of the illustrations:

Linear regression channels help determine the current trend. The trend is strong if both are directed in the same direction.

The moving average line (settings 20.0, smoothed) determines the short-term trend and the direction to trade now.

Murray levels are target levels for movements and corrections.

Volatility levels (red lines) are the likely price channel in which the pair will spend the next day, based on current volatility indicators.

The CCI indicator – its entry into the oversold area (below -250) or into the overbought area (above +250) means that a trend reversal in the opposite direction is approaching.

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Forex Analysis & Reviews: Technical Analysis of Daily Price Movements of Crude Oil Commodity Assets, Monday, December 05 2022.

On the daily chart, the Crude Oil commodity asset can be seen that Friday's bar has a Close that overlaps with the PL Dots so that it forms a Support/Block area at Friday's low to push up Crude Oil's movement on Monday Dec 05, 2022 as for Crude Oil on Monday is predicted to be pushed by market players to the Projection High area at the 81.57 level. If this level is successfully broke, then the 82.20 level which is the Sacrosanct Level / Halo will be the main target to be broke upwards as long as the 79.66 block area is not penetrated below.

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

Analysis are provided by InstaForex.

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Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of the GBP/AUD Cross Currency Pair Wednesday, December 07, 2022.

With the GBP/AUD price movement on the daily chart still moving above its 50 MA and the formation of the Bullish 123 pattern followed by Ross Hook (RH) it can be seen that buyers are still dominating this cross currency pair but it seems that in the near future it will be corrected slightly to the level 1.7916 but please pay attention as long as the downward correction does not exceed the 1.7700 level, then you can be sure that GBP/AUD is still in a bullish condition and will try to test the 1.8256 level. (Disclaimer)

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

Analysis are provided by InstaForex.

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