Murrey Math Lines 24.10.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a test of 5/8 (0.6378) is expected, followed by a rebound from this level and a decline to the support at 2/8 (0.6286). The scenario can be cancelled by rising above the 5/8 (0.6378) level. In this case, the pair could reach the resistance at 6/8 (0.6408).

Read more - Murrey Math Lines AUDUSD, NZDUSD

Murrey Math Lines 26.10.2023 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is approaching the resistance line. In this case, a downward breakout of the 3/8 (0.8977) level is expected, followed by a decline to the support at 1/8 (0.8850). The scenario can be cancelled by rising above 4/8 (0.9033), which could lead to a trend reversal and growth to the resistance at 5/8 (0.9094).

Read more - Murrey Math Lines USDCHF, XAUUSD

Ichimoku Cloud Analysis 30.10.2023 (EURUSD, XAUUSD, USDCHF)

EURUSD, "Euro vs US Dollar"

EURUSD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud is expected at 1.0580, followed by a decline to 1.0440. An additional signal confirming the price drop could be a rebound from the lower boundary of the ascending channel. The scenario might be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0645, followed by a rise to 1.0740. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the quotes securing under 1.0505.

Read more - Ichimoku Cloud Analysis EURUSD, XAUUSD, USDCHF

Technical Analysis & Forecast 01.11.2023

EURUSD, "Euro vs US Dollar"

EURUSD has completed a correction to 1.0673 and started to decline rapidly. The price has achieved the first target of 1.0557. Today a consolidation range is forming above this level. With an upward breakout, the price might rise to 1.0600 (a test from below). A downward breakout will open the potential for a decline to 1.0515, from where the trend could continue to 1.0477. This is a local target.

Read more - Technical Analysis & Forecast 01.11.2023

Japanese Candlesticks Analysis 03.11.2023 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, "Gold vs US Dollar"

Gold has formed a Hammer reversal pattern. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 2025.00. Upon testing the resistance, the price might break it and continue developing the ascending wave. However, the quotes could pull back to 1965.50 before rising.

Read more - Japanese Candlesticks Analysis XAUUSD, NZDUSD, GBPUSD

Technical Analysis & Forecast 08.11.2023

EURUSD, "Euro vs US Dollar"

EURUSD has completed an impulse of decline to 1.0664, correcting to 1.0704 today. Extension of the correction to 1.0711 is not excluded. Next, the wave of decline might continue to 1.0640. And if this level also breaks downwards, the potential for a wave to 1.0566 might open. This is a local target.

Read more - Technical Analysis & Forecast 08.11.2023

Japanese Candlesticks Analysis 10.11.2023 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3880. Next, the price might break the resistance and extend the uptrend. However, the quotes could pull back to 1.3770 before continuing the uptrend.

Read more - Japanese Candlesticks Analysis USDCAD, AUDUSD, USDCHF

Technical Analysis & Forecast 15.11.2023

EURUSD, “Euro vs US Dollar”

EURUSD has formed a wide consolidation range around 1.0680. Amid the news, the market broke the range upwards and hit a local correction target of 1.0886. Today a consolidation range is expected to form below this level. Breaking it downwards, the price could start a downward movement to 1.0755 minimum. At maximum, it could fall to 1.0680 (a test from above). Next, another structure of growth targeting 1.0915 could develop.

Read more - Technical Analysis & Forecast 15.11.2023

Japanese Candlesticks Analysis 17.11.2023 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

Gold has formed a Shooting Star reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 1970.00. Upon testing the support, the quotes might rebound from this level and continue developing the ascending wave. However, the quotes could rise to 2010.00 without any correction.

Read more - Japanese Candlesticks Analysis XAUUSD, NZDUSD, GBPUSD

Technical Analysis & Forecast 22.11.2023

EURUSD, “Euro vs US Dollar”

EURUSD is forming a movement to 1.0894 inside a decline wave today. Upon reaching this level, the pair could form a growth link to 1.0929. Practically, a wide consolidation range is emerging around this level. The market could try to extend the range to 1.0990. Next, the quotes might drop to its lower boundary at 1.0824. This is the first target.

Read more - Technical Analysis & Forecast 22.11.2023

Japanese Candlesticks Analysis 24.11.2023 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

EURUSD has formed a Harami reversal pattern near the support level on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the resistance level at 1.1000. However, the price might pull back to 1.0850 and continue the uptrend upon testing the support.

Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP

Murrey Math Lines 28.11.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. However, the RSI has reached the overbought area. As a result, a test of 5/8 (0.6652) is expected, followed by a rebound from this level and a decline to the support at 3/8 (0.6530). The scenario could be cancelled by rising above 5/8 (0.6652), in which case the pair might continue rising and reach the resistance level of 6/8 (0.6713).

Read more - Murrey Math Lines AUDUSD, NZDUSD