Murrey Math Lines 06.07.2023 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF are under the 200-day Moving Average on H4, revealing a prevailing downtrend. The RSI is testing the resistance line. In this situation, a downward breakout of 2/8 (0.8972) is expected, followed by a decline to the support at 0/8 (0.8911). The scenario can be cancelled by rising above the resistance at 3/8 (0.9002), which might lead to a trend reversal and a rise of the pair to 4/8 (0.9033).

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Ichimoku Cloud Analysis 10.07.2023 (EURUSD, AUDUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

EURUSD has secured above the upper border of the Wedge reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0905 is expected, followed by a rise to 1.1090. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a break of the lower border of the Cloud with the price securing under 1.0855, which will mean a further decline to 1.0765.

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Japanese Candlesticks Analysis 12.07.2023 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 1.3260. Next, the price could rebound from it and continue the downtrend. However, the quotes might drop to 1.3170 without any correction to the support.

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Japanese Candlesticks Analysis 14.07.2023 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

Gold has formed a Hanging Man reversal pattern near the resistance level. Currently, the instrument is going by the reversal signal in a corrective wave. The pullback target could be 1950.00. After a test of the support level, the price might rebound from it and continue the uptrend. However, the quotes could rise to 1972.00 without correcting.

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Murrey Math Lines 18.07.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is testing the support line. In these circumstances, the price is expected to break the 8/8 (0.6835) level and continue growing to the resistance level of +2/8 (0.6658). The scenario can be cancelled by a downward breakout of 7/8 (0.6774). In this case, the pair might fall to the support at 6/8 (0.6713).

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Ichimoku Cloud Analysis 20.07.2023 (EURUSD, USDCAD, AUDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.1165 is expected, followed by a rise to 1.1375. An additional signal confirming the rise will be a rebound from the lower boundary of the ascending channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.1055, which will mean a further decline to 1.0965. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price securing above 1.1235.

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Ichimoku Cloud Analysis 24.07.2023 (EURUSD, AUDUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

EURUSD is rebounding from the Tenkan-Sen line. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower boundary of the Cloud at 1.1085 is expected, followed by a rise to 1.1335. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.1015, which will mean a further decline to 1.0925. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price securing above 1.1195.

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Technical Analysis & Forecast 26.07.2023

EURUSD, “Euro vs US Dollar”

EURUSD has reached the local target of a declining wave at 1.1020. The market is consolidating above this level today. A link of growth to 1.1070 is expected to develop, followed by a drop to 1.1046. Next, the pair could rise to 1.1100, from where the correction might expand to 1.1125 (with a test from below). When it is over, a new wave of decline to 1.0977 could start. This is the first target.

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Japanese Candlesticks Analysis 28.07.2023 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD quotes have formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 1.3130. Next, the price could break the support level and continue the downtrend. However, the quotes might correct to 1.3275 before the decline.

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Murrey Math Lines 01.08.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes are below the 200-day Moving Average on H4, indicating a prevailing downtrend. The RSI is testing the support line. In these circumstances, a downward breakout of the 5/8 (0.6652) level is expected, followed by a decline to the support level at 4/8 (0.6591). The scenario can be cancelled by a breakout of the resistance at 6/8 (0.6713). In this case, the quotes could rise to 7/8 (0.6774).

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Murrey Math Lines 03.08.2023 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF quotes are in the oversold area on H4. The RSI has rebounded from the support line. In this situation, the price is expected to break the 0/8 (0.8789) level and rise to the resistance at 1/8 (0.8911). The scenario can be cancelled by a downward breakout of the support at -1/8 (0.8667). In this case, the pair could return to -2/8 (0.8544).

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Technical Analysis & Forecast 07.08.2023

EURUSD, “Euro vs US Dollar”

EURUSD has completed a correction at the 1.1040 level and started to develop another wave of decline. Today an impulse of decline to 1.1007 has been completed. A consolidation range has formed around this level. Breaking it down, the price continues to decline to the 1.0970 level. This is the first target. Once the price hits this level, a link of growth to 1.1000 (a test from below) is expected to form, followed by a decline to 1.0940 with the prospect of trend continuation to 1.0880.

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