Forex Technical Analysis & Forecast 21.04.2020
EURUSD, “Euro vs US Dollar”

After breaking 1.0844 to the downside, EURUSD is still forming the fifth descending wave with the short term target at 1.0810. After that, the instrument may start another correction to return to 1.0844 and then resume falling inside the downtrend to reach 1.0792.

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Japanese Candlesticks Analysis 23.04.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the pair is forming an ascending tendency. At the moment, after completing an Engulfing pattern and then attempting to reverse, AUDUSD is correcting. The upside target may be at 1.4320. At the same time, there might be another scenario, which implies that the instrument may fall towards the support level at 1.4000.

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Fibonacci Retracements Analysis 27.04.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after falling and reaching 23.6% fibo, XAUUSD is moving towards the high at 1747.77. If the price breaks it, the pair may continue its growth to reach the post-correctional extension area between 138.2% and 161.8% fibo at 1798.90 and 1858.60 respectively. At the same time, one should note that the rising impulse was slowed down as it was approaching the high. In this case, there is a high probability of a new descending wave with the targets at 38.2% and 50.0% fibo at 1634.40 and 1599.50 respectively.

Read more - Fibonacci Retracements Analysis GOLD, USDCHF

Ichimoku Cloud Analysis 29.04.2020 (NZDUSD, XAUUSD, USDCAD)

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6101; the instrument is moving above Ichimoku Cloud, thus indicating a bullish tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6075 and then resume moving upwards to reach 0.6305. Another signal to confirm further ascending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.5965. In this case, the pair may continue falling towards 0.5885.

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Forex Technical Analysis & Forecast 06.05.2020

EURUSD, “Euro vs US Dollar”

After rebounding from 1.0900, EURUSD continues falling with the target at 1.0820. According to the main scenario, the price is expected to reach this level and then consolidate near these lows. After that, the instrument may break the range to the upside and start a new correction to return to 1.0900 and test it from below.

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Ichimoku Cloud Analysis 08.05.2020 (XAUUSD, EURUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1716.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1700.00 and then resume moving upwards to reach 1765.00. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1685.00. In this case, the pair may continue falling towards 1665.00. To confirm further growth, the asset must break the resistance level and fix above 1725.00, thus completing the Triangle pattern.

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Murrey Math Lines 13.05.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after leaving the “oversold area”, USDJPY is trading between 1/8 and 2/8. In this case, the price is expected to rebound from 1/8 and then resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 0/8.

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Ichimoku Cloud Analysis 15.05.2020 (EURUSD, GBPUSD, NZDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.0802; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0815 and then resume moving downwards to reach 1.0735. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.0860. In this case, the pair may continue growing towards 1.0955.

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Forex Technical Analysis & Forecast 19.05.2020

EURUSD, “Euro vs US Dollar”

After expanding the consolidation range up to 1.0850 and forming an upside continuation pattern, EURUSD has reached 1.0924. Possibly, today the pair may form another consolidation range at the current highs. If later the price breaks 1.0898, the market may continue falling with the target at 1.0852.

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Japanese Candlesticks Analysis 21.05.2020 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after forming a Hanging Man pattern, XAUUSD has reversed; right now, it is correcting downwards to reach 1730.00. If later the price rebounds from this level, the uptrend may resume. In this case, the upside target may be at 1777.00

Read more - Japanese Candlesticks Analysis GOLD, NZDUSD, GBPUSD

Fibonacci Retracements Analysis 25.05.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after breaking the consolidation range and updating the high, XAUUSD is falling. The next upside targets were inside the post-correctional extension area between 138.2% and 161.8% fibo at 1798.90 and 1858.60 respectively, but the pair decided to test the previously-broken area. At the same time, there is a divergence on MACD, which indicates a possible correction towards 23.6%, 38.2%, and 50.0% fibo at 1690.70, 1645.40, and 1607.83 respectively.

Read more - Fibonacci Retracements Analysis GOLD, USDCHF

Murrey Math Lines 27.05.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has rebounded from 3/8. In this case, the price is expected to continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 2/8.

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