Instaforex Analysis

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  1. #441
    Senior Member IFX Gertrude's Avatar
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    Instaforex Analysis
    Forecast for AUD/USD on February 18, 2020

    AUD/USD
    A minutes was issued from the last RBA meeting on monetary policy this morning. Committee members agreed that the economy will slightly decline in the medium term due to drought and the outbreak of SARS in China. By the end of the year, financial politicians are waiting for the economy to grow, pending the growth of investment in fixed assets. This made market participants doubt such optimism, since the IMF expects the global economy to weaken by the end of the year. It was also mentioned that the committee was considering options for lowering the rate, but decided to postpone and leave room for maneuver in the event of a worsening economic situation. In general, the rates are supposed to be kept at a low level for quite a long time.

    This release, of course, did not contribute in any way to purchases of the Australian dollar and the aussie lost more than 20 points in the Asian session. The Australian dollar's technical reversal occurred from the Fibonacci level of 161.8% yesterday. The target is 0.6624 in terms of the Fibonacci level of 223.6% and the support of the price channel line is open. Perhaps there will be a breakout of the level, and the price will reach 0.6595 at the Fibonacci level of 238.2%. After this movement, a correction is likely.



    On the H4 chart, the price crossed both indicator support lines - the balance line (red) and the MACD line (blue). Marlin is declining in the negative trend zone. The Australian dollar will continue to decline.



    *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

    Analysis are provided byInstaForex.

  2. #442
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    What are the major institutions trading? | Weekly Commitment of Traders (COT) report (17/2 to 21/2)



    On the H4 chart, the price crossed both indicator support lines - the balance line (red) and the MACD line (blue). Marlin is declining in the negative trend zone. The Australian dollar will continue to decline.

    Our strongest currency is the US Dollar with a bullish strength factor of 1.73 and with institutions adding more long contracts.

    Our weakest currency is the New Zealand Dollar with a bearish strength factor 1.43 and with a net bearish positions of 2,287 meaning that there are a lot of institutions adding on to their short positions (2,983) while at the same time, reducing their long positions (-696).

    With a weak NZD and a strong USD, it would be good to look for short NZD/USD positions for this week.

    Also worth noting are the weak Japanese Yen, Australian Dollar and the strong Euro, Pound and Canadian dollar.

    Analysis are provided byInstaForex.

  3. #443
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    Forecast for EUR/USD on February 20, 2020

    EUR/USD
    The euro gained 13 points on Wednesday as part of a moderate expected correction after the previous three-figure fall. The growth could have been greater, but this was hindered by the fall of the British pound and the Japanese yen and the report on the eurozone balance of payments for December, which showed a balance of 32.6 billion euros against expectations of 34.5 billion. Data on the laying of new homes in the US for January showed a small decrease: 1.57 million against 1.63 million a month earlier, but the issued building permits increased from 1.42 million to 1.56 million, showing the highest figure since January 2007. Published minutes from the last FOMC Fed meeting showed nothing interesting.



    On the daily chart, the signal line of the Marlin Oscillator is pointing upward, it is possible to continue the correction to the Fibonacci level of 161.8% at the price of 1.0840. The main objectives of declining 1.0745 and 1.0650/80 are maintained.



    On the four-hour chart, the double convergence according to Marlin retains its potential effect, which may result in continued price growth, but the signal line of the oscillator stopped at the boundary with the territory of growth. Its withdrawal under its own support (the turquoise line) neutralizes the influence of convergence. This will happen if the price goes below yesterday's low.

    Analysis are provided byInstaForex.

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