Japanese Candlesticks Analysis 01.12.2023 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be 1.3575. Next, the price might have a chance for a rebound from the resistance level and further development of the downtrend. However, the quotes could drop to 1.3500 without any pullback.

Read more - Japanese Candlesticks Analysis USDCAD, AUDUSD, USDCHF

Murrey Math Lines 05.12.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes are above the 200-day Moving Average on H4, which reveals the prevalence of an uptrend. The RSI is approaching the oversold area. In this situation, a test of 3/8 (0.6530) is expected, followed by a rebound from this level and a rise to the resistance at 5/8 (0.6652). The scenario could be cancelled by a downward breakout of 3/8 (0.6530). In this case, the pair might drop to the support level of 2/8 (0.6469).

Read more - Murrey Math Lines AUDUSD, NZDUSD

Ichimoku Cloud Analysis 07.12.2023 (EURUSD, USDJPY, XAGUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is declining by a bearish impulse. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.0785 is expected, followed by a decline to 1.0585. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.0965, which will mean a further growth to 1.1055.

Read more - Ichimoku Cloud Analysis EURUSD, USDJPY, XAGUSD

Murrey Math Lines 09.01.2024 (EURUSD, GBPUSD)

EURUSD, "Euro vs US Dollar"

EURUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is testing the resistance line. In this situation, the quotes are expected to rise above the 4/8 (1.0986) level and reach the resistance at 5/8 (1.1047). The scenario could be cancelled by a downward breakout of the support at 3/8 (1.0925), which could lead to a trend reversal and a decline to the 2/8 (1.0864) level.

Read more - Murrey Math Lines EURUSD, GBPUSD

Ichimoku Cloud Analysis 11.01.2024 (GBPUSD, USDJPY, USDCAD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is testing the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2735 is expected, followed by a rise to 1.2885. The rise could be additionally confirmed by a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.2645, which will mean a further decline to 1.2555.

Read more - Ichimoku Cloud Analysis GBPUSD, USDJPY, USDCAD

Ichimoku Cloud Analysis 15.01.2024 (USDJPY, XAUUSD, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is testing 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 144.65 is expected, followed by a rise to 147.85. The growth could be additionally supported by a rebound from the lower boundary of the bullish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 142.60, which will mean a further decline to 141.70.

Read more - Ichimoku Cloud Analysis USDJPY, XAUUSD, USDCAD

Technical Analysis & Forecast 18.01.2024

EURUSD, “Euro vs US Dollar”

EURUSD has completed a decline wave to 1.0845. Today the market is forming a correction to the 1.0910 level (a test from below). Once the correction is over, a new decline wave to the 1.0838 level might begin. Next, a consolidation range might form; with a downward escape from the range, the potential for a decline wave to 1.0733 could open.

Read more - Forex Technical Analysis & Forecast 18.01.2024

Ichimoku Cloud Analysis 22.01.2024 (EURUSD, USDJPY, NZDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD has found a foothold above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0905 is expected, followed by a decline to 1.0775. The decline could be additionally supported by a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.0965, which will mean further growth to 1.1055.

Read more - Ichimoku Cloud Analysis EURUSD, USDJPY, NZDUSD

Technical Analysis & Forecast 24.01.2024

EURUSD, “Euro vs US Dollar”

EURUSD has completed a decline wave, reaching 1.0821. Today it experienced growth momentum towards 1.0845. A narrow consolidation range has formed, and by breaking it upwards, the market continues a corrective wave to 1.0866. After the price reaches this level, a decline to 1.0845 could follow (a test from above). Subsequently, the price could rise to 1.0870 and drop to 1.0810.

Read more - Technical Analysis & Forecast 24.01.2024

Japanese Candlesticks Analysis 26.01.2024 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The correction target could be the resistance level of 1.0880. However, the price might drop to 1.0790 and extend the downtrend without any pullback.

Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP

Murrey Math Lines 30.01.2024 (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 testing the resistance line. In this situation, a downward breakout of the 4/8 (0.6591) level is expected, followed by a decline to the support at 3/8 (0.6530). The scenario could be cancelled by rising above the resistance level of 5/8 (0.6652), which could lead to a trend reversal and a rise to 6/8 (0.6713).

Read more - Murrey Math Lines AUDUSD, NZDUSD

Ichimoku Cloud Analysis 05.02.2024 (EURUSD, USDJPY, XAUUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is rebounding from the lower boundary of the descending channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0825 is expected, followed by a decline to 1.0625. An additional signal confirming the decline might be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.0920, which will mean further growth to 1.1015.

Read more - Ichimoku Cloud Analysis EURUSD, USDJPY, XAUUSD