Ichimoku Cloud Analysis 08.02.2024 (GBPUSD, XAGUSD, USDCHF)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.2565 is expected, followed by a decline to 1.2485. 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 1.2730, which will mean further growth to 1.2820. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price finding a foothold under the 1.2605 level.

Read more - Ichimoku Cloud Analysis GBPUSD, XAGUSD, USDCHF

Ichimoku Cloud Analysis 12.02.2024 (GBPUSD, USDCAD, USDJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is rebounding from the lower boundary of the Cloud. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 1.2640 is expected, followed by a decline to 1.2475. 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. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price finding a foothold under 1.2575.

Read more - Ichimoku Cloud Analysis GBPUSD, USDCAD, USDJPY

Technical Analysis & Forecast 14.02.2024

EURUSD, “Euro vs US Dollar”

The EURUSD pair has reached the estimated target of a decline wave at 1.0700. The structure of the last decline target implies a correction link to 1.0734 that might form today. Practically, a consolidation range might form between these two levels. With an escape from the range downwards, a decline link to 1.0680 is not excluded. With an escape upwards, the correction might extend to 1.0777.

Read more - Technical Analysis & Forecast 14.02.2024

Japanese Candlesticks Analysis 16.02.2024 (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 might be the support at 1.0710. However, the price could correct to 1.0800 and extend the downtrend after the test of the resistance.

Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP

Murrey Math Lines 20.02.2024 (AUDUSD, NZDUSD)

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 rebounded from the resistance line. In this situation, the pair is expected to drop to the nearest support at 2/8 (0.6469). The scenario could be cancelled by rising above the resistance at 4/8 (0.6591), which could lead to a trend reversal and provoke growth to the 5/8 (0.6652) level.

Read more - Murrey Math Lines AUDUSD, NZDUSD

Japanese Candlesticks Analysis 22.02.2024 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be the 2040.00 level. Upon testing the resistance, the price could rebound from this level and continue developing the downtrend. However, the quotes might drop to the 2020.00 mark without testing the resistance.

Read more - Japanese Candlesticks Analysis XAUUSD, NZDUSD, GBPUSD

Murrey Math Lines 22.03.2024 (Brent, S&P 500)

Brent
Brent quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI is approaching the support line. In this situation, the price is expected to test the 6/8 (84.71) level and rebound from it, rising to the resistance at 8/8 (87.50). The scenario could be cancelled by breaking below the 6/8 (84.71) level. In this case, Brent quotes could drop to the support at 5/8 (82.81).

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

S&P 500
S&P 500 quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI is testing the support level. In this situation, the price is expected to rise further to the nearest resistance at 8/8 (5312.5). The scenario could be cancelled by a breakout of the 7/8 (5234.4) level. In this case, the S&P 500 index could decline to the support at 6/8 (5156.2).

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

Japanese Candlesticks Analysis 26.03.2024 (XAUUSD, NZDUSD, GBPUSD

XAUUSD, “Gold vs US Dollar”
Gold has formed a Harami reversal pattern. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 2230.00. Upon testing the resistance, the price might break it and continue developing the uptrend. However, the quotes could correct to 2150.50 before rising.

NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes have formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the 0.6060 level. After a rebound from the resistance, the quotes might continue developing the downtrend. However, the price could drop to 0.5985 without any correction.

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes have formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.2700. However, the price might pull back to 1.2610 and extend the uptrend after testing the support.

Read more - Japanese Candlesticks Analysis (XAUUSD, NZDUSD, 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 28.03.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”
USDCHF 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 break below the 6/8 (0.9033) level, falling to the support at 5/8 (0.8911). The scenario could be cancelled by rising above the resistance at 7/8 (0.9155). In this case, the pair might climb to the 8/8 (0.9277) level.

On M15, a breakout of the lower line of the VoltyChannel will increase the probability of a further price decline.

XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on D1, which indicates a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to rise to the nearest resistance at 8/8 (2250.00). The scenario could be cancelled by a breakout of the 7/8 (2187.50) level. In this case, Gold quotes might decline to the support at 6/8 (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 02.04.2024 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are below the 200-day Moving Average on D1, revealing the prevalence of a downtrend. The RSI has broken the support line. In this situation, a breakout of 2/8 (0.6469) is expected, followed by a price decline to the support at 1/8 (0.6408). The scenario might be cancelled by rising above 3/8 (0.6530), in which case the quotes could increase to the resistance at 4/8 (0.6591).

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

NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes are below the 200-day Moving Average on D1, revealing the prevalence of a downtrend. However, the RSI has reached the oversold area. As a result, in this situation, a test of 1/8 (0.5920) is expected, followed by a rebound from this level and a price rise to the resistance at 2/8 (0.5981). This growth is interpreted as a correction of a downtrend. The scenario might be cancelled by a breakout of 1/8 (0.5920), in which case, the quotes could drop to the support at 0/8 (0.5859).

Read more - Murrey Math Lines (AUDUSD, NZDUSD)

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 04.04.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are above the 200-day Moving Average on D1, revealing the prevalence of an uptrend. The RSI has broken the support line, escaping the overbought area. As a result, in this situation, a rebound from 6/8 (0.9033) is expected, followed by a price decline to the support at 5/8 (0.8911). The scenario could be cancelled by rising above the resistance at 6/8 (0.9033), in which case the pair might increase to the 7/8 (0.9155) level.

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

XAUUSD, “Gold vs US Dollar”
Gold quotes and the RSI are in their respective overbought areas in D1. In this situation, a rebound from the +1/8 (2312.50) level is expected, followed by a price decline to the support at 8/8 (2250.00). The scenario could be cancelled by a rise above +1/8 (2312.50), in which case gold quotes could reach the resistance at +2/8 (2390.80).

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