Ichimoku Cloud Analysis 07.02.2020 (AUDUSD, NZDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6716; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6730 and then resume moving downwards to reach 0.6595. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6795. In this case, the pair may continue growing towards 0.6865.

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Forex Technical Analysis & Forecast 11.02.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.0909, EURUSD is forming a narrow consolidation range around it. Possibly, the pair may update 1.0905 and then start one more ascending structure towards 1.0922, thus forming a triangle pattern. After that, the instrument may break 1.0925 to the upside and start another correction with the target at 1.0960.

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Japanese Candlesticks Analysis 13.02.2020 (EURUSD, USDJPY)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the descending tendency continues. After breaking the channel’s downside border, EURUSD has completed several reversal candlestick patterns, such as Hammer. Right now, the pair may start reversing. We may assume that later the price may test the channel’s downside border and then resume its decline to reach the support level at 1.0849. However, one shouldn’t exclude a possibility that the price may return inside the channel and grow towards 1.0991.

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Fibonacci Retracements Analysis 17.02.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, correctional waves that follow each other are forming a Triangle pattern. After re-testing 38.2% fibo, XAUUSD is forming another rising wave. The major scenario implies that the pair may break the current high at 1611.29 and reach the post-correctional extension area between 138.2 and 161.8% fibo at 1599.45 and 1625.70 respectively. However, another scenario suggests that the instrument may continue its decline towards 50.0% and 61.8% fibo at 1530.60 and 1511.50 respectively.

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Murrey Math Lines 19.02.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

On H4, USDJPY is traded above the consolidation area. We are expecting a breakout of 6/8 and further growth to the resistance at 7/8. The scenario may be canceled by a breakout of 5/8, which may let the quotations decline to the support at 3/8.

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Ichimoku Cloud Analysis 21.02.2020 (AUDUSD, NZDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6602; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6625 and then resume moving downwards to reach 0.6520. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6675. In this case, the pair may continue growing towards 0.6745.

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Murrey Math Lines 26.02.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is expected to test 6/8, rebound from it, and then resume falling towards the support at 4/8. However, USDJPY may avoid testing 6/8 because of a very serious “bearish” pressure. In this case, the price may break 5/8 and then continue trading downwards.

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Ichimoku Cloud Analysis 28.02.2020 (AUDUSD, NZDUSD, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6518; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6545 and then resume moving downwards to reach 0.6455. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6595. In this case, the pair may continue growing towards 0.6675.

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Forex Technical Analysis & Forecast 03.03.2020

EURUSD, “Euro vs US Dollar”

After finishing the ascending wave at 1.1181, EURUSD has formed the descending impulse towards 1.1119; right now, it is correcting to reach 1.1155. Today, the pair may form a new consolidation range between the above-mentioned levels. If later the price breaks this range to the downside, the market may resume trading downwards with the short-term target at 1.1069.

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Japanese Candlesticks Analysis 05.03.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the pair continues growing. By now, EURUSD has completed several reversal candlestick patterns, such as Shooting Star, close to the resistance level. Right now, the pair is reversing. We may assume that later the price may complete the correction and move to reach 1.1125. However, one shouldn’t exclude a possibility that the price may form a more significant pullback towards 1.1045.

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Forex Technical Analysis & Forecast 10.03.2020

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending structure at 1.1494; right now, it is falling. Possibly, the pair may break 1.1353 and then continue trading downwards with the short-term target at 1.1230. After that, the instrument may form one more ascending structure to reach 1.11366 and then start a new decline towards 1.1215.

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Japanese Candlesticks Analysis 12.03.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after finishing a Hanging Man pattern near the resistance level, USDCAD continues growing and updating its highs. Right now, the pair may start reversing; the downside target is at 1.3590. The current situation implies that after completing a pullback the price may resume growing towards 1.3830. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may continue growing without forming a correction towards 1.3590.

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