Japanese Candlesticks Analysis 09.02.2024 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

Gold has formed a Hammer pattern. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target might be 2050.00. Upon testing the resistance, the price could break it and continue developing the uptrend. However, the quotes might pull back to 2025.00 before growth.

Read more - Japanese Candlesticks Analysis XAUUSD, NZDUSD, GBPUSD

Murrey Math Lines 13.02.2024 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a test of 2/8 (0.6469) is expected, followed by a breakout of this level and a subsequent decline to the support at 1/8 (0.6408). The scenario could be cancelled by rising above the resistance at 3/8 (0.6530), in which case the pair might grow to 4/8 (0.6591).

Read more - Murrey Math Lines AUDUSD, NZDUSD

Murrey Math Lines 15.02.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF quotes are in the overbought area on H4. The RSI has breached the support line. As a result, in this situation, a downward breakout of +1/8 (0.8850) is expected, followed by a decline to the support at 7/8 (0.8728). The scenario could be cancelled by a rise above the resistance at +2/8 (0.8911), which will reshuffle the Murrey indication, after which new price targets will be set.

Read more - Murrey Math Lines USDCHF, XAUUSD

Ichimoku Cloud Analysis 19.02.2024 (GBPUSD, USDCHF, USDCAD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is correcting after a rebound from the support. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2630 is expected, followed by a decline to 1.2465. 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 finding a foothold above 1.2675, which will mean further growth to 1.2765.

Read more - Ichimoku Cloud Analysis GBPUSD, USDCHF, USDCAD

Technical Analysis & Forecast 21.02.2024

EURUSD, “Euro vs US Dollar”

The EURUSD pair formed a structure of a growth wave to 1.0838 and a decline structure to 1.0803 today. Currently, a growth link to 1.0820 is forming. Practically, a new consolidation range might go by these levels. With an escape upwards, the range might expand to 1.0850. With a downward escape, the potential for a new decline wave to 1.0755 could open. This is the first target.

Read more - Technical Analysis & Forecast 21.02.2024

Murrey Math Lines 21.03.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to rebound from the 5/8 (0.8850) level and rise to the resistance at 6/8 (0.8911). The scenario could be cancelled by breaking below the support at 4/8 (0.8789), which could lead to a trend reversal, pushing the pair down to 3/8 (0.8728).

On M15, the upper line of the VoltyChannel is too far away from the current price, so a rebound from the 5/8 (0.8850) level on H4 will signal a price rise.

XAUUSD, “Gold vs US Dollar”

Gold quotes are above the 200-day Moving Average on H4, which indicates a prevailing uptrend. The RSI has reached the overbought area. In this situation, the price is expected to test the 6/8 (2187.50) level and rebound from it, rising to the resistance at 8/8 (2250.00). The scenario could be cancelled by a breakout of the 6/8 (2187.50) level. In this case, Gold quotes might decline to the support at 4/8 (2125.00).

Read more - Murrey Math Lines (USDCHF, XAUUSD)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

Murrey Math Lines 25.03.2024 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”
The EURUSD pair stands below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI is testing the support line. In this situation, a breakout of the 2/8 (1.0803) level is expected, followed by a decline to the support at 0/8 (1.0742). The scenario could be cancelled by rising above 3/8 (1.0833), in which case, the quotes might correct to the resistance at 4/8 (1.0864).

On M15, the lower boundary of the VoltyChannel is broken, which increases the probability of a further price decline.

GBPUSD, “Great Britain Pound vs US Dollar”
The GBPUSD pair stands below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. However, a convergence has formed on the RSI. As a result, in this situation, the quotes are expected to break the 3/8 (1.2634) level, rising to the resistance at 4/8 (1.2695) afterwards. The scenario might be cancelled by a breakout of 2/8 (1.2573), in which case, the pair could continue falling and drop to the support at 1/8 (1.2512).

Read more - Murrey Math Lines (EURUSD, GBPUSD)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

Murrey Math Lines 27.03.2024 (USDJPY, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes are in the overbought area on D1. The RSI is approaching the overbought area. In this situation, the price is expected to rebound from the +1/8 (151.56) level and decline to the support at 7/8 (148.43). The scenario could be cancelled by rising above the +1/8 (151.56) level. In this case, the pair might maintain its upward trajectory, reaching the resistance at +2/8 (153.12).

On M15, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.

USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes are approaching the overbought area on D1, while the RSI is approaching the resistance level. In this situation, the quotes are expected to test the 8/8 (1.3671) level, rebound from it, and drop to the support at 6/8 (1.3427). The scenario could be cancelled by surpassing the 8/8 (1.3671) level. In this case, the pair might rise to the resistance at +1/8 (1.3793).

Read more - Murrey Math Lines (USDJPY, USDCAD)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

Murrey Math Lines 29.03.2024 (Brent, S&P 500)

Brent
Brent quotes are above the 200-day Moving Average on D1, which indicates the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, a rebound from 4/8 (87.50) level is expected, followed by a rise towards the resistance at 5/8 (90.62). The scenario could be cancelled by a breakout of 3/8 (84.38), followed by a trend reversal and a decline to 2/8 (81.25).

On M15, the upper boundary of the VoltyChannel is broken, which increases the probability of a price rise.

S&P 500
The S&P 500 quotes are in the overbought area on D1. The RSI is testing the resistance line. In this situation, a test of +2/8 (5312.5) is expected, followed by a rebound from this level and a price decline to the support at 8/8 (5000.00). The scenario could be cancelled by a rebound from +2/8 (5312.5), which might lead to the reshuffling of the Murrey indication, after which new price targets will be set.

Read more - Murrey Math Lines (Brent, S&P 500)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

Ichimoku Cloud Analysis 03.04.2024 (XAUUSD, GBPUSD, USDCHF)

XAUUSD, “Gold vs US Dollar”
Gold has gained a foothold above the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 2265 is expected, followed by a rise to 2325. An additional signal confirming the rise could be 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 securing below 2215, which will signal a further decline to 2175.

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is correcting following a rebound from the lower boundary of a bearish channel. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2605 is expected, followed by a decline to 1.2455. An additional signal confirming the decline could be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the Cloud’s upper boundary, with the price securing above 1.2705, indicating further growth to 1.2805.

USDCHF, “US Dollar vs Swiss Franc”
USDCHF has established itself above the resistance level. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.9025 is expected, followed by a rise to 0.9205. An additional signal confirming the rise could be a rebound from the lower boundary of the bullish channel. The scenario could be cancelled by a breakout of the lower boundary of the Ichimoku Cloud, with the price securing below 0.8920, which will signal a further decline to 0.8825.

Read more - Ichimoku Cloud Analysis (XAUUSD, GBPUSD, USDCHF)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

Murrey Math Lines 05.04.2024 (Brent, S&P 500)

Brent
Brent quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. However, the RSI is in the overbought area. As a result, in this situation, the price is expected to rebound from the 5/8 (90.62) level and drop to the support at 4/8 (87.50). The scenario could be cancelled by breaking above the 5/8 (90.62) level. In this case, Brent quotes could maintain their upward trajectory, potentially reaching the resistance at 6/8 (93.75).

On M15, the price decline could be additionally confirmed by a breakout of the lower boundary of the VoltyChannel.

S&P 500
S&P 500 quotes remain in the overbought area on D1. The RSI has broken the support line. In this situation, the price is expected to break below the +1/8 (5156.2) level and fall to the support at 8/8 (5000.00). The scenario could be cancelled by rising above +2/8 (5312.5), which might reshuffle the Murrey indication, setting new price movement targets.

Read more - Murrey Math Lines (Brent, S&P 500)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team