Murrey Math Lines 25.05.2022 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, after breaking the 200-day Moving Average, USDJPY is trading below it to indicate a possible descending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may reverse and move towards 4/8.

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Japanese Candlesticks Analysis 27.05.2022 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has formed a Hammer reversal pattern not far from the support area. At the moment, the asset is reversing in the form of a new rising impulse. In this case, the upside target may be the resistance level at 1885.50. At the same time, an opposite scenario implies that the price may correct to reach 1840.50 before resuming the ascending tendency.

Read more - Japanese Candlesticks Analysis XAUUSD, NZDUSD, GBPUSD

Murrey Math Lines 31.05.2022 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it to indicate an ascending tendency. In this case, the price is expected to break 3/8 and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks the support at 2/8 to the downside. After that, the instrument may reverse and resume falling towards 1/8.

Read more - Murrey Math Lines AUDUSD, NZDUSD

The Aussie is retreating. Overview for 01.06.2022

After growing earlier, AUDUSD is now correcting.

The Australian Dollar is falling a bit against the USD on Wednesday. The current quote for the instrument is 0.7180.

The Aussie had a great run and now requires a correction. On the other hand, the “greenback” is increasing the pressure – investors need “safe haven” assets as the external background is getting worse.

Today’s statistics showed that the Australian GDP added 0.8% q/q in the first quarter of 2022 after gaining 3.6% q/q the quarter before and against the expected reading of 0.6% q/q. On YoY, the indicator showed +3.3% against market expectations of +3.0%

The labour market in Australia is stable, which means that consumer incomes are stable as well. The question is about spending: how strong should inflation be to make people revise their spending and even cut it? One more negative factor is Chinese lockdowns – China remains Australia’s key trade and economic partner.

High oil and energy prices affect inflation and, hence, the GDP dynamics as well. Nevertheless, one should admit that Australia is doing a good job in handling the CPI so far.

Forecasts for other instruments can be found in the section "Forex Forecasts and Analysis" on our website.

Japanese Candlesticks Analysis 03.06.2022 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed a Hanging Man reversal pattern close to the resistance area. At the moment, EURUSD may reverse in the form of a new descending impulse. In this case, the downside correctional target may be at 1.0700. However, an alternative scenario implies that the price may grow to reach 1.0840 without correcting towards the support level.

Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP

Murrey Math Lines 07.06.2022 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is trading above the 200-day Moving Average to indicate an ascending tendency. In this case, the price is expected to break 3/8 and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks the support at 2/8 to the downside. After that, the instrument may reverse and resume falling towards 1/8.

Read more - Murrey Math Lines AUDUSD, NZDUSD

Murrey Math Lines 09.06.2022 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, after breaking the 200-day Moving Average, USDCHF is trading above to indicate a possible ascending tendency. In this case, the pair is expected to continue growing to reach the resistance at 5/8. However, this scenario may be cancelled if the price breaks the support at 4/8 to the downside. After that, the instrument may reverse and fall towards 3/8.

Read more - Murrey Math Lines USDCHF, GOLD

Murrey Math Lines 14.06.2022 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes are under the 200-days Moving Average, which indicates a downtrend. A test of 1/8 is expected, followed by a breakaway and a decline to the support level of 0/8. The scenario can be cancelled by a breakaway of the support level of 3/8 upwards. In this case, the pair can grow to 5/8.

Read more - Murrey Math Lines AUDUSD, NZDUSD

Ichimoku Cloud Analysis 16.06.2022 (GBPUSD, BRENT, USDCAD)

GBPUSD, "Great Britain Pound vs US Dollar"

The pair is correcting upon bouncing off the support area. The pair is moving under the Ichimoku Cloud suggesting a downtrend. A test of the Kijun-Sen line is expected at 1.2205, followed by falling to 1.1845. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.2365, which will indicate further growth to 1.2455.

Read more - Ichimoku Cloud Analysis GBPUSD, BRENT, USDCAD

Forex Technical Analysis & Forecast 20.06.2022

EURUSD, “Euro vs US Dollar”

The pair is forming a consolidation range around 1.0500. With an escape upwards, the correction might continue to 1.0620, followed by a decline to 1.0220. With an escape downwards, a pathway directly to 1.0220 will open.

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Forex Technical Analysis & Forecast 22.06.2022

EURUSD, “Euro vs US Dollar”

After completing the correction at 1.0577, EURUSD is forming a new descending structure to break 1.0395 and may later continue falling with the target at 1.0210.

Read more - Forex Technical Analysis & Forecast 22.06.2022

Japanese Candlesticks Analysis 24.06.2022 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after forming a Harami reversal pattern close to the support level, USDCAD may reverse in the form of another ascending impulse. In this case, the upside target may be the resistance area at 1.3095. Later, the market may break this level and continue growing. However, an alternative scenario implies that the asset may correct to reach 1.2920 first and then resume trading upwards.

Read more - Japanese Candlesticks Analysis USDCAD, AUDUSD, USDCHF