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Forex Software → Market Analysis → Forex Technical Analysis & Forecast by RoboForex
Technical Analysis & Forecast 09.08.2023
EURUSD, “Euro vs US Dollar”
EURUSD has completed a wave of decline to the 1.0928 level. Today the market is correcting at the 1.0973 level (a test from below) with a wide consolidation range formed around the 1.0970 level. A downward breakout of the range is expected, with the third wave of decline developing further. The estimated target is 1.0815.
Read more - Technical Analysis & Forecast 09.08.2023
Murrey Math Lines 10.08.2023 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are below the 200-day Moving Average on H4, indicating a prevailing downtrend. The RSI is testing the resistance line. In this situation, a breakout of 3/8 (0.8728) is expected, followed by a price decline to the support level at 2/8 (0.8667). The scenario can be cancelled by a breakout of the resistance at 4/8 (0.8789), which could lead to a trend reversal and trigger price growth to 5/8 (0.8850).
Read more - Murrey Math Lines USDCHF, XAUUSD
Japanese Candlesticks Analysis 11.08.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the resistance at 1.1110. However, the quotes could correct to 1.0940 and continue the uptrend after the pullback.
Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP
Ichimoku Cloud Analysis 14.08.2023 (EURUSD, GBPUSD, USDCAD)
EURUSD, “Euro vs US Dollar”
EURUSD has secured under the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 1.0945 is expected, followed by a decline to 1.0805. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.1045, which will mean further growth to 1.1135.
Read more - Ichimoku Cloud Analysis EURUSD, GBPUSD, USDCAD
Murrey Math Lines 15.08.2023 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are under 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 3/8 (0.6530) is expected, followed by a rebound from it and a decrease to the support at 1/8 (0.6408). The scenario can be cancelled by rising above the level of 3/8 (0.6530). In this case, the quotes could reach the resistance at 4/8 (0.6591).
Read more - Murrey Math Lines AUDUSD, NZDUSD
Technical Analysis & Forecast 16.08.2023
EURUSD, “Euro vs US Dollar”
EURUSD finished a wave of correction at 1.0951. Today the market has performed an impulse of decline to 1.0898. At the moment, a consolidation range is forming above this level. The price is expected to exit the range downwards and extend the wave to 1.0850, from where the trend could continue to 1.0830. This is a local target.
Read more - Technical Analysis & Forecast 16.08.2023
Ichimoku Cloud Analysis 17.08.2023 (BRENT, AUDUSD, EURGBP)
BRENT
Crude oil price has left the boundaries of a bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 84.75 is expected, followed by a decline to 79.40. 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 securing above 88.05, which will mean further growth to 92.05.
Read more - Ichimoku Cloud Analysis BRENT, AUDUSD, EURGBP
Japanese Candlesticks Analysis 18.08.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1.3510. Next, the price could rebound from the support and continue the uptrend. However, the quotes might rise to 1.3610 without any pullback.
Read more - Japanese Candlesticks Analysis USDCAD, AUDUSD, USDCHF
Ichimoku Cloud Analysis 21.08.2023 (GBPUSD, BRENT, USDCAD)
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has rebounded from the resistance level. The pair is going above the Ichimoku Cloud, suggesting an uptrend. A test of the lower boundary of the Cloud is expected at 1.2690, followed by a rise to 1.2940. The growth 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 securing under 1.2665, which will indicate a further decline to 1.2575.
Read more - Ichimoku Cloud Analysis GBPUSD, BRENT, USDCAD
Japanese Candlesticks Analysis 22.08.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed an Inverted Hammer reversal pattern at the support level. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1910.00. Upon testing the resistance, the price might get the chance for a rebound from it and further development of the downtrend. However, the quotes could drop to 1885.00 without any correction.
Read more - Japanese Candlesticks Analysis XAUUSD, NZDUSD, GBPUSD
Technical Analysis & Forecast 23.08.2023
EURUSD, “Euro vs US Dollar”
EURUSD has completed a wave of decline to 1.0833. Today the market is correcting this wave of decline. The correction target might be 1.0874 (with a test from below). After the correction will be over, a new wave of decline to 1.0816 could start. Next, a link of growth to 1.0950 is expected.
Read more - Technical Analysis & Forecast 23.08.2023
Ichimoku Cloud Analysis 24.08.2023 (EURUSD, USDCAD, NZDUSD)
EURUSD, “Euro vs US Dollar”
EURUSD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0880 is expected, followed by a decline to 1.0665. 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 securing above 1.0965, which will indicate further growth to 1.1055.
Read more - Ichimoku Cloud Analysis EURUSD, USDCAD, NZDUSD
Japanese Candlesticks Analysis 25.08.2023 (XAUUSD, NZDUSD, GBPUSD)
XAUUSD, “Gold vs US Dollar”
Gold has formed a Doji reversal pattern near the resistance level. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 1900.00. Upon testing the support, the price could break it and continue the downtrend. However, the quotes might pull back to 1930.50 before falling.
Read more - Japanese Candlesticks Analysis XAUUSD, NZDUSD, GBPUSD
Technical Analysis & Forecast 28.08.2023
EURUSD, “Euro vs US Dollar”
EURUSD has performed a wave of decline to 1.0765. Today the market is forming a structure of correction to 1.0815 (with a test from below). Next, a decline to 1.0740 is expected, from where the trend might continue to 1.0711. This is a local target.
Read more - Technical Analysis & Forecast 28.08.2023
Murrey Math Lines 29.08.2023 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are under the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI is nearing the resistance line. In this situation, a test of 2/8 (0.6469) is expected, followed by a rebound from this level and a decline to the support at 0/8 (0.6347). The scenario can be cancelled by rising above the 2/8 (0.6469) mark. In this case, the quotes could reach the resistance at 3/8 (0.6530).
Read more - Murrey Math Lines AUDUSD, NZDUSD
Technical Analysis & Forecast 30.08.2023
EURUSD, “Euro vs US Dollar”
EURUSD got supported at the level of 1.0783 and performed a link of growth to 1.0836. At a certain point, the market formed a consolidation range around this level. Exiting the range upwards, the market continued the corrective wave to 1.8900. Today it is forming a link of decline to 1.0840 (with a test from above). Next, another link of correction to 1.0907 might follow. At this level, the corrective potential will be exhausted. Next, a new wave of decline to 1.0780 is expected to start, from where the trend could continue to 1.0700.
Read more - Technical Analysis & Forecast 30.08.2023
Ichimoku Cloud Analysis 31.08.2023 (GBPUSD, NZDUSD, XAUUSD)
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is pushing off the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.2655 is expected, followed by a rise to 1.2885. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.2590, which will mean a further decline to 1.2495. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the long-term bearish channel with the price securing above 1.2750.
Read more - Ichimoku Cloud Analysis GBPUSD, NZDUSD, XAUUSD
Japanese Candlesticks Analysis 01.09.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target could be the support level at 1.0780. However, the price could correct to 1.0850 and continue the downtrend after the pullback.
Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP
Ichimoku Cloud Analysis 04.09.2023 (GBPUSD, USDCHF, NZDUSD)
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is correcting after it broke a bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2615 is expected, followed by a decline to 1.2445. 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 securing above 1.2695, which will mean further growth to 1.2790.
Read more - Ichimoku Cloud Analysis GBPUSD, USDCHF, NZDUSD
Murrey Math Lines 05.09.2023 (AUDUSD, NZDUSD)[/size]
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 has broken the support line. In this situation, a downward breakout of 1/8 (0.6408) is expected, followed by a decline to the support level of 0/8 (0.6347). The scenario can be cancelled by the price rising above 2/8 (0.6469), in which case the the quotes might reach the resistance level of 3/8 (0.6530).
Read more - Murrey Math Lines AUDUSD, NZDUSD
Technical Analysis & Forecast 06.09.2023
EURUSD, “Euro vs US Dollar”
EURUSD has completed a corrective movement to 1.0707. Today the market is forming a consolidation range above this level. With an escape upwards from the range, a link of growth to 1.0756 is not excluded (with a test from below). Next, a decline to 1.0633 could follow, from where the trend might continue to 1.0566.
Read more - Technical Analysis & Forecast 06.09.2023
Murrey Math Lines 07.09.2023 (USDCHF, XAUUSD)
USDCHF, “US Dollar vs Swiss Franc”
USDCHF are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is in the overbought area, giving hints on a possible price correction. In this situation, a downward breakout of 6/8 (0.8911) is expected, after which the price might drop to the support level of 5/8 (0.8850). The scenario can be cancelled by rising above 7/8 (0.8972), in which case the quotes could reach the resistance at 8/8 (0.9033).
Read more - Murrey Math Lines USDCHF, XAUUSD
Ichimoku Cloud Analysis 11.09.2023 (EURUSD, XAUUSD, NZDUSD)
EURUSD, “Euro vs US Dollar”
EURUSD is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which reveals a downtrend. A test of the lower boundary of the Cloud at 1.0765 is expected, followed by a decline to 1.0565. An additional signal confirming the decline could 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 securing above 1.0845, which will mean a price rise to 1.0955. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price securing under 1.0705.
Read more - Ichimoku Cloud Analysis EURUSD, XAUUSD, NZDUSD
Murrey Math Lines 12.09.2023 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are below the 200-day Moving Average on H4, indicating a prevailing downtrend. The RSI has rebounded from the resistance line. In these circumstances, the price is expected to break the 1/8 (0.6408) level down and drop to the support at 0/8 (0.6347). The scenario can be cancelled by a breakout of the 2/8 (0.6469) level. In this case, the quotes could rise to the resistance at 3/8 (0.6530).
Read more - Murrey Math Lines AUDUSD, NZDUSD
Technical Analysis & Forecast 13.09.2023
EURUSD, “Euro vs US Dollar”
EURUSD has performed a declining wave to 1.0704. At a certain moment, the market formed a consolidation range under this level. Escaping the range upwards, the pair completed a link of growth to 1.0764. A consolidation range might form under this level today. Exiting this one upwards, the pair could extend the range to 1.0775. Next, a decline to 1.0680 is expected, and after that a wave of growth to 1.0900 might start.
Read more - Technical Analysis & Forecast 13.09.2023
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