Japanese Candlesticks Analysis 03.02.2023 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

On H4, the pair has formed a Hammer reversal pattern. The pair is now going by the reversal signal in an ascending wave. The goal of the correction might be 1.3375; later the price can bounce off it and continue the decline. However, the price may fall to 1.3260 without any pullback to the resistance level.

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Murrey Math Lines 07.02.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes have broken through the 200-day Moving Average upwards, which indicates possible development of an uptrend. The RSI has broken through the resistance line. Hence, a breakaway of 1/8 (0.6958) upwards should be expected, followed by growth to the resistance level of 2/8 (0.7080). The scenario can be cancelled by a downward breakaway of the support level of 0/8 (0.6958). In this case, the pair may drop to -1/8 (0.6713).

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Ichimoku Cloud Analysis 09.02.2023 (GBPUSD, USDCAD, AUDUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is correcting in a Wedge reversal pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2120 is expected, 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 1.2250, which will mean further growth to 1.2345. The scenario can be confirmed by a breakaway of the lower border of the Wedge and securing under 1.2035.

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Ichimoku Cloud Analysis 13.02.2023 (GBPUSD, BRENT, AUDUSD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is going inside the bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.2100 is expected, followed by falling to 1.1835. 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 1.2230, which will mean further growth to 1.2225.

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Forex Technical Analysis & Forecast 15.02.2023

EURUSD, “Euro vs US Dollar”

The currency pair completed a link of growth to 1.0820. Next, the market formed an impulse of decline and its correction to 1.0770. At the moment, the market is forming a consolidation range around 1.0722. An escape downwards and extension of the wave of decline to 1.0627 are expected. After this level is reached, a link of growth to 1.0696 is expected. Then the wave should develop to 1.0595.

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Japanese Candlesticks Analysis 17.02.2023 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

On H4, at the resistance level the pair has formed a Longed Legged Doji reversal pattern. The instrument is now going by the signal in a descending wave. The goal of the pullback might be 1.0600. However, the price may grow to 1.0720 and continue the uptrend without testing the support level.

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Murrey Math Lines 21.02.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes are under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI has bounced off the resistance line. Now, a downward breakaway of 5/8 (0.6897) is to be expected, followed by falling to the support level of 4/8 (0.6835). The scenario can be cancelled by rising over the resistance level of 6/8 (0.6958), which may lead to a trend reversal and growth to the pair to 7/8 (0.7019).

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Ichimoku Cloud Analysis 27.02.2023 (USDCAD, XAUUSD, USDJPY)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is pushing off the Tenkan-Sen line of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3565 is expected, followed by growth to 1.3825. An additional signal confirming the decline will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.3355, which will mean further falling to 1.3265.

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Technical Analysis & Forecast 01.03.2023

EURUSD, “Euro vs US Dollar”

The currency pair has completed a wave of correction to 1.0644. Today a structure of decline is forming to 1.0475. The goal is local. After this level is reached, a new correction to 1.0705 might develop, followed by a decline to 1.0380.

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Japanese Candlesticks Analysis 03.03.2023 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

On H4, the pair has formed a Shooting Star reversal pattern. The instrument is now going by the signal in a descending wave. The target of the correction might be 1.3535; later the price might push off it and continue growing. However, the price may rise to 1.3655 without pulling back to the support level.

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Murrey Math Lines 07.03.2023 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes are under the 200-day Moving Average, which reveals prevalence of a downtrend. The RSI has broken through the support line. Further falling to the nearest support level at 1/8 (0.6652) is expected. The scenario can be cancelled by rising above the resistance level of 3/8 (0.6774). In this case, the pair might rise to 4/8 (0.6835).

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Japanese Candlesticks Analysis 10.03.2023 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

On H4, near the support level, the EURUSD has formed an Inverted Hammer reversal pattern. The pair may now go by the reversal pattern in an ascending wave. The target of the growth might be 1.0615. However, the price might drop to 1.0535 and continue the downtrend without testing the resistance level.

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