Instaforex Analysis

**IFX Gertrude** · 03-27-2023, 07:51 AM

BTC UPDATE FOR MARCH 27,.2023 - TIGHT RANGE AND POTENTIAL FOR THE BREAKOUT

BTC/USD has been trading sideways at the price of $27.800 and I see potetnial for the breakout mode.
Due to the strong upside cycle in the background and higher lows on H4, I see potential for the upside continuation.
In case of the breakout of resistance at $28.500, I see potential rally towards $32.000 and $35.000
Additionally, I found contraction of Bolinger Bands, which is another confirmation of the potential breakout regime.

Analysis are provided by InstaForex.

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**IFX Gertrude** · 03-28-2023, 01:19 AM

TECHNICAL ANALYSIS OF GBP/USD FOR MARCH 28, 2023

Overview :

The GBP/USD pair traded higher and closed the day in the positive territory near the price of 1.2208. Right now, it was trading in a narrow range of 1.2150 staying close to a 2-days high. On the hourly chart, the GBP/USD pair is still trading above the MA (100) H1 moving average line (1.2068 - weekly pivot point). The situation is similar on the 4-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the GBP/USD pair remains above MA 100 H1, it may be necessary to look for entry points to buy for the formation of a correction.

All elements being clearly bullish, it would be possible for traders to trade only long positions on the GBP/USD pair as long as the price remains well above the golden ratio of 1.2068. The buyers' bullish objective is set at 1.2209.

The price is likely to form a double top in the same time frame. Accordingly, the GBP/USD pair is showing signs of strength following a breakout of the highest level of 1.2209. So, buy above the level of 1.2068 with the first target at 1.2209 in order to test the daily resistance 1.

The level of 1.2209 is a good place to take profits. Moreover, the RSI is still signaling that the trend is upward as it remains strong above the moving average (100). This suggests that the pair will probably go up in coming hours.

A bullish break in this resistance would boost the bullish momentum. Other outlook for the GBP/USD pair : Pound Sterling is currently trading at 1.2150. If the trend reverses from this point, then a possible future share price target could be 1.2209.

If the price of Pound Sterling is trading above 1.2150 then possibility of upside targets getting achieved is higher around the level of 1.2150.

The basic bullish trend is very strong on the GBP/USD pair, but the short term shows some signs of running out of steam. Nevertheless, a purchase could be considered as long as the price remains above 1.2150. Crossing the first resistance at 1.2209 would be a sign of a potential new surge in the price.

Buyers would then use the next resistance located at 1.2270 as an objective. Crossing it would then enable buyers to target 1.2270. Caution, a return to below 1.2270 would be a sign of a consolidation phase in the short-term basic trend.

If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.

All elements being clearly bullish market, it would be possible for traders to trade only long positions on the GBP/USD pair as long as the price remains well above the price of 1.2068.

The GBP/USD pair will continue rising from the level of 1.2068 in the long term. It should be noted that the support is established at the level of 1.2068 which represents the last bearish wave. The price is likely to form a double bottom in the same time frame.

Accordingly, the GBP/USD pair is showing signs of strength following a breakout of the highest level of 1.2068. So, buy above the level of 1.2068 with the first target at 1.2209 in order to test the daily resistance 1.

The buyers' bullish objective is set at the level of 1.2270 (last bullish wave). A bullish break in this resistance would boost the bullish momentum.

The buyers could then target the resistance located at 1.2270 . This suggests that the pair will probably go up in coming hours.

If the trend is able to break the level of 1.2209 (double top), then the market will call for a strong bullish market towards the objective of 1.2270 this week. If there is any crossing, the next objective would be the resistance located at 1.2270.

The level of 1.2270 is a good place to take profits. Moreover, the RSI is still signaling that the trend is upward as it remains strong above the moving average (100).

Since the trend is above the 61.8% Fibonacci level (1.2068), it means the market is still in a uptrend. From this point, the GBP/USD pair is continuing in a bullish trend from the new support of 1.2068. This is shown to us as the current price is in a bullish channel.

According to the previous events, we expect that the GBP/USD pair will move between 1.2068 and 1.2270 in coming hours. It is also should be noted, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

On the other hand, in case a reversal takes place and the GBP/USD pair breaks through the support level of 1.2068, a further decline to 1.1981 can occur. It would indicate a bearish market.

Analysis are provided by InstaForex.

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**IFX Gertrude** · 03-29-2023, 05:38 AM

TECHNICAL ANALYSIS OF DAILY PRICE MOVEMENT OF NATURAL GAS COMMODITY ASSET, WEDNESDAY MARCH 29 2023.

If we look on the daily chart of Natural Gas commodity asset then it will seen that both of Moving Average is on Death Cross condition as well as supported by the appearance of Bearish 123 pattern follow by Ross Hook (RH) also Awesome Oscillator indicator was on negative area so in a few days ahead, Natural Gas has the potential to depreciated down below where the level of 1,967 will try to tested to break below, as long as there is no upward correction movement which is quite significant until it breaks above the level of 2,427, Natural Gas has the potential to continue its decline to the level of 1,785.

Analysis are provided by InstaForex.

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**IFX Gertrude** · 03-30-2023, 06:00 AM

FORECAST FOR GBP/USD ON MARCH 30, 2023

Yesterday, the pound, as well as other world currencies (especially the yen), refused to reach technical levels and turned down instead. The pound lost 27 pips, giving up the 1.2420 target. However, this level is very strong, and testing it while the market is neutral is unlikely to provide the pound with more prospects.

Now, the price can overcome the support level at 1.2278 and go down to 1.2155 to assess the new balance of power, as it is the middle of the range since mid-December 2022.

On the four-hour chart, the Marlin oscillator signal line is entering the downtrend area. The price is approaching the support level at 1.2278. The MACD line reached this support level, i.e. these lines coincide on different scales. And if so, a breakthrough of the support will have a strong subsequent impact on the price.

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**IFX Gertrude** · 03-31-2023, 05:40 AM

FORECAST FOR AUD/USD ON MARCH 31, 2023

The Australian dollar broke through the upper limit of the neutral range that started back on March 17. AUD climbed out of this range this morning.

It could fall to the lower limit of the range, like it did on the 23rd, but the ascending Marlin oscillator creates an advantage for the growth option, at first to 0.6790 and then, under the favorable circumstances, to 0.6873.

On the four-hour chart, the price is in an active position to rise above the indicator lines, the Marlin is growing at an even angle, with an optimal speed to enter the overbought zone. After consolidating above 0.6730, we can expect the price to rise further. However, this plan can potentially be hindered by the price breaking through the MACD line, below the 0.6693 mark.

Analysis are provided by InstaForex.

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**IFX Gertrude** · 04-03-2023, 05:52 AM

XAUUSD, DAY | POTENTIAL BREAKOUT 1ST SUPPORTL?

Gold (XAU/USD) has been exhibiting a bullish trend, with an overall momentum that is also bullish. Based on the chart, the price has the potential to make a bullish rebound off the first support level and then move towards the first resistance.

The first support level, which is at 1948.51, is a strong overlap support level that has been tested multiple times and has acted as a support level in the past. Therefore, it is a good level for a potential bounce.

Another support level is located at 1881.07, which is also an overlap support level. It has been tested several times and has held as a support level, making it another level for a potential bounce.

Meanwhile, the first resistance level at 2000.00 is a multi-swing high resistance level that has been significant in the past. Additionally, it is located at the 127.20% Fibonacci Extension level, which provides additional confluence to the level.

Another resistance level is at 2070.00, which is a swing high resistance level. This level has also been important in the past, making it another level for traders to observe.

Analysis are provided by InstaForex.

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**IFX Gertrude** · 04-04-2023, 04:37 AM

FORECAST FOR EUR/USD ON APRIL 4, 2023

The euro changed its bearish mood on Friday, and jumped by 120 pips on Monday from the low of the day, from the support of the target level, or more precisely, the upper limit of the target range of 1.0758/87. The price is consolidating above the MACD indicator line below the upper limit of the green price channel. Climbing above the 1.0930 reference level will make 1.0990 the next target.

Bears, if they don't want to give up easily and have control of the situation, must consolidate under the MACD line on the daily chart, below 1.0867. In this case, a divergence with the Marlin oscillator will unfold, and simultaneously, the signal line of the oscillator will leave the wedge and move down. The price will move towards the range of 1.0758/87.

On the four-hour chart, a double divergence of the price with the oscillator has already been formed. This is an effective sign of a reversal, but it's not enough. In the current conditions, the price needs to cross the support of the MACD line, around 1.0857, which is 10 pips below the MACD line on the daily chart. We have to wait what scenario the market will choose in the near future.

Analysis are provided by InstaForex.

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**IFX Gertrude** · 04-05-2023, 08:31 AM

FORECAST FOR EUR/USD ON APRIL 5, 2023

The euro has chosen growth, at least soon. The EUR/USD exchange rate increased by 56 points yesterday. The price maintains its pursuit of the target level of 1.1033 – reaching its peak on February 2. Consolidation above the level will enable the target of 1.1185 — the maximum for March 2022 and the same minimum for November 2021 — to be reached.

Today, the United States will release March data on private, non-agricultural employment and the ISM Services PMI. ADP Non-Farm and ISM Services PMI are anticipated to decrease: ADP Non-Farm from 242 thousand to 200/208 thousand and ISM Services PMI from 55.1 to 54.5/3.

On the four-hour chart, the price is rising above the indicator lines, the Marlin oscillator is in the rising trend zone, and there are no indications of a price reversal.

Analysis are provided by InstaForex.

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**IFX Gertrude** · 04-06-2023, 04:56 AM

FORECAST FOR EUR/USD ON APRIL 6, 2023

On Wednesday, the euro fell by 49 points, showing an intention to turn down in the short or medium term. However, this behavior has signs of a false movement.

There is no price divergence with the Marlin oscillator on the daily chart, which is rare for the saw-toothed movement of the oscillator signal line. There may be another final surge of the oscillator and the price, even if it doesn't reach the target level of 1.1033. At least (while there is no divergence), the price should settle below the MACD indicator line to create a sign of reversal, and that will take at least a day. If the bears succeed, the price will move to the target range of 1.0758/87. Meanwhile, the price can still try to overcome the April 4 high.

On the four-hour chart, the price falls below the MACD line, but the main support is the line of the higher chart (1.0872). The Marlin oscillator is already in the area of the downtrend, but there can also be a breakthrough.

Analysis are provided by InstaForex.

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**IFX Gertrude** · 04-07-2023, 06:04 AM

FORECAST FOR GBP/USD ON APRIL 7, 2023

Yesterday, the pound reached a strong support level at 1.2422, which turned out to be an insurmountable resistance for the price in the second half of January. Now, if the pair crosses this level, the first target will be the MACD line at 1.2298, and after correcting the price may fall to 1.2155.

If the 1.2422 level is so strong that even good U.S. jobs data, if it is available today, will not be able to help the price to overcome it, the pair is likely to reverse to the target level of 1.2598. In this case, the signal line of the Marlin oscillator will climb from its own consolidation.

On the four-hour chart, the 1.2422 level is reinforced by the MACD indicator line. And even though the Marlin oscillator is already in negative territory, it can reluctantly follow the price in case it rises. It is a holiday in Europe, and the only driver may be the U.S. employment data. Let's wait for the report and see how things unfold.

Analysis are provided by InstaForex.

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