Japanese Candlesticks Analysis 23.04.2021 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset is trading within the uptrend. While testing the support area, the pair has formed several reversal patterns, including Hammer. At the moment, EURUSD may reverse and grow towards the resistance area. In this case, the upside target may be at 1.2110. However, an alternative scenario implies that the price may continue to fall to reach 1.1985 before resuming its ascending tendency.

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Murrey Math Lines 27.04.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD has rebounded from 8/8. In this case, the price is expected to break 7/8 and then continue moving downwards to reach the support at 6/8. However, this scenario may be canceled if the price breaks 8/8 to the upside. After that, the instrument may grow towards the resistance at +1/8.

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Fibonacci Retracements Analysis 29.04.2021 (Brent, Dow Jones)

Brent

In the H4 chart, after completing a slight pullback, Brent is forming a new rising wave, which is heading to break the high at 71.07 and then continue towards the post-correctional extension area between 138.2% and 161.8% fibo at 75.13 and 77.36 respectively. On the other hand, a rebound from the high will result in a new decline towards 23.6% and 38.2% fibo at 58.00 and 49.94 respectively.

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Ichimoku Cloud Analysis 03.05.2021 (GBPUSD, USDJPY, AUDUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3807; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3865 and then resume moving downwards to reach 1.3565. Another signal in favor of a further downtrend will be a rebound from the downside border of a Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3965. In this case, the pair may continue growing towards 1.4055. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1.3770.

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Forex Technical Analysis & Forecast 05.05.2021

EURUSD, “Euro vs US Dollar”

After reaching its predicted downside target at 1.2000, EURUSD is forming a new consolidation range above this level. Possibly, the pair may expand the range down to 1.1990 and then start one more correction with the target at 1.2080.

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Japanese Candlesticks Analysis 07.05.2021 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the instrument is forming another correction. After forming several reversal patterns, such as Doji, close to the support level, XAUUSD is reversing. In this case, the upside target of the correction may be the resistance area at 18400.00. At the same time, an opposite scenario implies that the price may continue the correction to reach 1800.00 before resuming its growth.

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Murrey Math Lines 11.05.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is trading inside the “overbought area”. In this case, the price is expected to break 8/8 and then continue moving downwards to reach the closest support at 7/8. However, this scenario may be canceled if the price breaks +1/8 to the upside. After that, the instrument may reverse and grow towards the resistance at +2/8.

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Fibonacci Retracements Analysis 13.05.2021 (Brent, Dow Jones)

Brent

In the H4 chart, after failing to reach the high at 71.07, Brent has stopped growing at 76.0% fibo; right now, it is consolidating between the high and 61.8% fibo. Possibly, the asset may break the range to the upside and break the high as well. After that, the instrument may continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 75.12 and 77.60 respectively, and then the fractal high at 87.09. At the same time, another scenario implies a rebound from the high followed by a new descending wave to break the low at 60.46 and then reach 23.6%, 38.2%, 50.0%, and 61.8% fibo at 58.00, 49.94, 43.46, and 36.93 respectively.

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Ichimoku Cloud Analysis 17.05.2021 (EURUSD, USDCAD, USDCHF)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2134; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2080 and then resume moving upwards to reach 1.2320. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.2055. In this case, the pair may continue falling towards 1.1965.

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Forex Technical Analysis & Forecast 19.05.2021

EURUSD, “Euro vs US Dollar”

After completing the ascending wave at 1.2222, EURUSD is consolidating around this level. Possibly, today the pair may form one more ascending structure to reach 1.2242 and then start a new correction with the target at 1.2150.

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Japanese Candlesticks Analysis 21.05.2021 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming several reversal patterns during the pullback, including Harami, USDCAD may reverse and start a new decline towards 1.1990. After testing this level, the price may break it and continue its descending tendency. However, an alternative scenario implies that the asset may correct to reach the resistance level at 1.2180 before further decline.

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Murrey Math Lines 25.05.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it to indicate a possible ascending tendency. In this case, the price is expected to continue moving upwards and reach the resistance at 8/8. However, this scenario may be canceled if the price breaks 7/8 to the downside. After that, the instrument may continue falling towards the support at 6/8.

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