Instaforex Analysis

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  1. #811
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    Instaforex Analysis
    Forex Analysis & Reviews: Forecast for AUD/USD on July 21, 2021

    AUD/USD
    The Australian dollar is slowly declining amid technical constraints - the price fluctuates between the adjacent price channel lines and below the target level of 0.7344, which is also located between these lines.



    Overcoming yesterday's low at 0.7301 opens the nearest target at 0.7244. A price reversal from this level to the upside is possible under the influence of the emerging convergence with the Marlin oscillator. Potential correction may continue up to the MACD line. At 0.7500, it intersects with the embedded price channel line.



    The price shows an intention to break through support at 0.7301 on the four-hour chart. The impetus for this was set by weak retail sales in Australia in May, which showed a decrease of -1.8%. The Marlin oscillator is turning down in the downward trend area. We are waiting for the aussie to move towards the specified goal.

    Analysis are provided byInstaForex.

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    Forex Analysis & Reviews: Forecast for EUR/USD on July 22, 2021

    EUR/USD
    Yesterday, the euro grew slightly not so much because of profit-taking (some players left the markets before today's European Central Bank meeting), but because of the emergence of risk appetite: S&P 500 0.82%, Euro Stoxx 50 1.78%, 5-year yield US government bonds increased from 0.685% to 0.738%. And if even on Monday-Tuesday the market was dominated by the opinion about introducing specifics into the monetary policy of the ECB, then yesterday the major market participants were no longer so specific in such forecasts and expectations.



    On the daily chart, the Marlin Oscillator continues to rise slowly in a narrow upward channel. The signal line has come very close to the zero line and, under favorable circumstances, is ready to turn down from it. In this case, the target is the level 1.1705 (March 31st low).

    In order for the growth to develop, the price needs to overcome the first resistance at 1.1850. The path to this level is not very close, so the likelihood of wide range trading today and tomorrow is very likely. If the resistance holds, the price will go to the support at 1.1705. If the resistance does not resist, then the growth will continue to the second target at 1.1925.



    Marlin entered positive territory on the four-hour chart. This is a sign of a probable price surge to the MACD line 1.1815 before the price falls in the main scenario.

    Analysis are provided byInstaForex.

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    Forex Analysis & Reviews: Forecast for EUR/USD on July 23, 2021

    EUR/USD
    The European Central Bank's meeting from yesterday partially justified the expectations of investors - it was announced that the super-soft policy could last a little longer than planned due to the weak recovery and the new threat of the coronavirus. Our forecast came true in that on Thursday we expected increased volatility of the single currency - the trading range was 74 points.



    We expect increased volatility today as well, as the signal line of the Marlin oscillator on the daily chart has almost come close to the zero line and the market itself is tempted to go up from the technical framework. But the statistical likelihood of decisive growth is less, the main technical indicators are still bearish-dominant. The first target for the main scenario is 1.1705, the second target is 1.1640. If the price still manages to overcome the target level 1.1850 (Marlin will already be in the growth zone), then the growth may continue to the MACD line in the area of the target level 1.1925.



    The price made a false exit above the MACD line on the four-hour chart, this is a sign of a subsequent downward movement. The Marlin Oscillator is on the edge of growth territory. We are waiting for the price to drop to the first target at 1.1705.

    Analysis are provided byInstaForex.

  4. #814
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    Forex Analysis & Reviews: Technical Analysis of EUR/USD for July 26, 2021

    Technical Market Outlook:
    The EUR/USD pair volatility is subdued, which is typical for a Falling Wedge pattern in progress. The strong technical support had been established at the level of 1.1761 and the bears had failed to break through it many times. In a case of a breakout ot the upside, the next target is seen at the level of 1.1820 (the key short-term resistance) and 1.1850. The corrective cycle can be terminated if the level of 1.1883 is clearly broken. The rising momentum supports the short-term bullish outlook.

    Weekly Pivot Points:
    WR3 - 1.1888
    WR2 - 1.1859
    WR1 - 1.1808
    Weekly Pivot - 1.1781
    WS1 - 1.1732
    WS2 - 1.1699
    WS3 - 1.1653

    Trading Recommendations:
    The down trend continues with a new swing low being made around the level of 1.1761. The key long term technical support is seen at 1.1704 and the Falling Wedge pattern is being made around this level. When this cycle is terminated, the up trend can be continued towards the next long-term target located at the level of 1.2350 (high from 06.01.2021).



    Analysis are provided byInstaForex.

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    Forex Analysis & Reviews: Forecast for EUR/USD on July 27, 2021

    EUR/USD
    Yesterday, the euro rose by 33 points, while the Marlin oscillator entered the growth zone on the daily chart. Now the price can boldly attack the nearest target level of 1.1850. Consolidating above it will mean that the price is ready to attack the MACD line, moreover, at the point of its intersection with the target level of 1.1925. Consolidating above the level opens the prospect of growth at 1.2050 - to the low on May 13. It could possibly decline after the price breaks through the July 21 low at1.1752. In this case, the Marlin Oscillator will be able to exit the rising channel and move down.



    The price has settled above the MACD line on the four-hour chart. Consolidating below it, below the level of 1.1800, introduces the price into the uncertainty zone up to the level of 1.1752. This uncertainty can be set by the expectations of market participants regarding the results of tomorrow's Federal Reserve meeting. With the price breaking through yesterday's peak at 1.1817, it could continue to rise to 1.1850.



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    Forex Analysis & Reviews: Forecast for EUR/USD on July 28, 2021

    EUR/USD Before today's Federal Reserve meeting, the euro strengthened the reversal trend. Yesterday, another such sign of a reversal was a wide-range day of 71 points with a final rising close. The Marlin oscillator continues to grow in positive territory within its own channel. The price's exit above the target level of 1.1850 will confirm the reversal and send the price to the target level of 1.1925, which is approaching the MACD indicator line.



    It is very likely that investors strongly doubt the tightening of the Fed's rhetoric even after good economic data. The main reason for such doubts is the deterioration of the epidemiological situation in the United States. Also on the agenda is a new problem for the United States the completion of the legally approved deadline for increasing the national debt. Last week, the Minister of Finance, Janet Yellen, has already submitted a letter to Congress asking for an early resolution of this issue due to increased economic uncertainty (due to the pandemic) and a high proportion of retiring public sector workers. As usual, raising the national debt limit is a favorite object for trading between the chambers of Congress and this is not good for the dollar.



    On the four-hour scale chart, the price settled above the balance and MACD lines after a false short-term departure under them. The signal line of the Marlin oscillator in this struggle turned exactly from the zero line up. We are waiting for the development of the upward movement.

    [I]Analysis are provided byInstaForex.

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    Forex Analysis & Reviews: Forecast for EUR/USD on July 29, 2021

    EUR/USD
    As a result of yesterday's Federal Reserve meeting, the euro grew by 26 points, having reached the target level of 1.1850 as the upper shadow. Consolidating above it will lead the signal line of the Marlin oscillator to exit the rising channel also upwards. The 1.1925 target will open - historically the level is not very strong, but the MACD indicator line is approaching it, which will strengthen it.



    The euro's growth, however, occurred on the FOMC signal of an impending tightening of monetary policy, of course, provided that economic indicators continue to show growth. The Fed even allowed inflation to rise above its predicted values. Trading volumes were about the same as on Thursday last week, when the European Central Bank met, and less than on the 8th, when ECB President Christine Lagarde made a statement about the increase in inflation target. One gets the impression that the big players are playing with the euro as a giveaway, probably, the US does not need a strong dollar for the period of uncertainty with the issue of raising the government debt threshold. Today there will be data on US GDP for the second quarter - a forecast of 8.5% against 6.4% in the first quarter and applications for unemployment benefits will come out - a forecast of 380,000 against 419,000 a week earlier. If the euro continues to rise against such data, then this growth, whatever its dynamics, will not be long in time - 4-6 weeks.



    The euro has settled above the indicator lines on the H4 chart, the Marlin oscillator is growing in the zone of positive values, there are no reversal signs.

    Analysis are provided byInstaForex.

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    in ro ham eslah kon:
    Forex Analysis & Reviews: Forecast for EUR/USD on July 30, 2021

    EUR/USD
    Yesterday's economic data played into the hands of strategic buyers of the euro - even on average volumes, the single currency gained 43 points - this is the largest daily growth of the week. Unemployment in Germany in July decreased from 5.9% to 5.7%, the index of manufacturing sentiment in the euro area for the current month increased from 12.8 to 14.6, the harmonized consumer price index in Germany increased from 2.1% y/y up to 3.1% y/y. And in the US, GDP for the second quarter showed an increase of 6.5% against the forecast of 8.5% and the previous figure was revised down from 6.4% to 6.3%. US reports were even summed up by applications for unemployment benefits - the weekly figure was 400,000 against the forecast of 380,000. Today there are data on expenses and income of individuals for June. Revenues are forecast to decline 0.3% after the previous -2.0%, expenses may increase 0.7% versus the previous 0.9%. Such data is able to push for the euro's growth.



    The price stopped at the balance indicator line on the daily chart. The signal line of the Marlin oscillator has left its own channel upwards, now, after a short break, the price will attack the important resistance at 1.1925, consolidating above which opens the target at 1.2050.



    The situation is completely upward on the four-hour chart. The Marlin Oscillator has turned down, but this appears as a discharge of the indicator before further growth. The correction limit is seen at the level 1.1850.

    Analysis are provided byInstaForex.

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