Instaforex Analysis

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  1. #871
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    Instaforex Analysis
    Forex Analysis & Reviews: USDJPY short-term bearish pressure | 13th Oct 2021



    We can see that price is abiding by the ascending trendline and we can see price has reached the 1st resistance hence, we can expect the price to reverse back down to the 1st Support in line with the 50% Fibonacci retracement , 100% Fibonacci projection and ascending trendline support. Our short-term bearish bias is further supported by the RSI indicator where it touched the resistance level and dropped.

    Trading Recommendation
    Entry: 113.827 Reason for Entry:
    100% Fibonacci Projection
    Take Profit: 112.146
    Reason for Take Profit:
    100% Fibonacci projection and 50% Fibonacci Retracement
    Stop Loss: 114.581
    Reason for Stop Loss:
    Horizontal swing high, 127.2% Fibonacci projection

    Analysis are provided byInstaForex.

  2. #872
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    Forex Analysis & Reviews: Elliott wave analysis of gold for October 14, 2021



    Gold is ready to challenge minor resistance at 1,834 again. It is likely to break higher towards key resistance at 1,917. A break above here will finally confirm that the triangle consolidation we have witnessed in the last 13 months has been completed and the next impulsive rally towards 2,344 is in motion.

    In the short term, we see support at 1,750 that ideally will be able to act as a floor for the rally to and above minor resistance at 1,834.

    Analysis are provided byInstaForex.

  3. #873
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    Forex Analysis & Reviews: Forecast for EUR/USD on October 15, 2021

    EUR/USD
    Yesterday, the euro closed the day with a symbolic growth of 1 point, the peak growth was 30 points, so yesterday can be considered corrective. US retail sales data for September are due tonight, forecast at -0.3%. In the euro area, an increase in the trade balance for August is expected from 13.4 billion euros to 15.3 billion. The euro will likely rise. The growth target is the MACD line in the 1.1668 area.



    On the four-hour scale, the Marlin Oscillator was discharged from the overbought zone yesterday, now it is ready to continue rising. The correction developed above the balance indicator line, which means that investors are still interested in buying.



    Analysis are provided byInstaForex.

  4. #874
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    Forex Analysis & Reviews: Technical Analysis of EUR/USD for October

    Technical Market Outlook:
    The EUR/USD pair had been rejected from the technical resistance seen at level of 1.1613, which is very close to the upper channel line. The series of some Pin Bars around this level is indicating as possible down move continuation towards the level of 1.1562 (intraday technical support), 1.1539 (technical support) or 1.1514 (the key short-term technical support).

    On the other hand, the level of 1.1497 remains the key long-term technical support for bulls and any violation of this level will be seen as very negative for bulls. Please notice the market keeps trading inside of the descending channel, so the bears are still in control of the market.

    Weekly Pivot Points:
    WR3 - 1.1742
    WR2 - 1.1684
    WR1 - 1.1640
    Weekly Pivot - 1.1582
    WS1 - 1.1545
    WS2 - 1.1479
    WS3 - 1.1445

    Trading Outlook:
    The market is in control by bears that pushed the prices towards the level of 1.1562, which is the lowest level since November 2020. The next target for bears is seen at the level of 1.1497. The up trend can be continued towards the next long-term target located at the level of 1.2350 (high from 06.01.2021) only if bullish cycle scenario is confirmed by breakout above the level of 1.1909 and 1.2000.



    Analysis are provided byInstaForex.

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    Forex Analysis & Reviews: Elliott wave analysis of Copper for October 19, 2021



    After a temporary correction in wave 4/ copper is on its way towards a new all-time high and a move closer to the next target at 5.07 and 5.76. If Copper takes a moon-shot, we could see Copper aim for 6.88 where wave 5/ will be equal in length to the distance traveled from the start of wave 1/ through to the peak of wave 3/ added to the low of wave 4.

    Support is now seen at 4.44 with key support seen at 4.01.


    Analysis are provided byInstaForex.

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    Forex Analysis & Reviews: Elliott wave analysis of EUR/JPY for October 20, 2021



    EUR/JPY has extended its sub-wave iii/ closer to the wave iii peak at 134.12. However, a correction in sub-wave iv/ should be expected soon towards support near 132.12 before the final impulsive rally towards the long-term target for wave 5/ and 3.

    As JPY-crosses often form triangle consolidation in their fourth waves, we will be looking for a triangle consolidation in sub-wave iv/ .

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    Forex Analysis & Reviews: Elliott wave analysis of AUD/USD for October



    AUD/USD has broken above resistance at 0.7478 indicating that wave A completed with the test of 0.7106 in late August and wave B is now in motion. B-waves are the most difficult waves to predict as all kinds of combinations may occur. Wave A was in three waves and that calls for only two possibilities for wave B. It can be a flat correction, which calls for a rally back to at least 0.7890 and possibly closer to the start of wave A at 0.8007. Wave B can be a triangle in which case we could see a rally to between 0.7614 to 0.7814 before topping and then move lower near 0.7765.

    Only time will show how wave B develops. Once wave B is completed, C will be a five-wave decline to complete wave 2 and set the stage for a new impulsive rally in wave 3.

    Analysis are provided byInstaForex.

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    Forex Analysis & Reviews: Gold respects cloud support.

    Gold price continues to respect the cloud support in the 4 hour chart and once again bounces off the cloud. Gold price is at $1,788 having made a higher low at the cloud support at $1,777. Gold price faces a major resistance trend line now and breaking above it will be an important bullish sign.



    Black line - major resistance trend line

    Gold price is trading above the Kumo and above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). Support is at $1,782, $1,778 and $1,772. Holding above the cloud is crucial for the short-term trend. Bulls need to show more signs of strength in order for more upside to be expected. So far short-term trend is in bull's control. Breaking above $1,790-$1,800 is important not only because of the major trend line, but because there we also find the upper cloud resistance in the Daily chart. A break out in a Daily time frame provides added support to the bullish scenario for a move towards $1,860 and higher.

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    Forex Analysis & Reviews: USDCHF bullish momentum | 25nd Oct 2021



    Price is seen to be reacting in a potential triangle. We can expect price to make a short-term bullish bounce from the 1st support in line with 61.8% Fibonacci retracement, towards the 1st Resistance in line with 127.2% Fibonacci projection and 38.2% Fibonacci retracement. Our short-term bullish bounce is further supported by the stochastic indicator where the %K line bounces off the support level.

    Trading Recommendation
    Entry: 0.91510
    Reason for Entry:
    61.8% Fibonacci retracement
    Take Profit: 0.92278
    Reason for Take Profit:
    127.2% Fibonacci projection and 38.2% Fibonacci retracement
    Stop Loss: 0.91336
    Reason for Stop Loss:
    127.2& Fibonacci projection

    Analysis are provided byInstaForex.

  10. #880
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    in ro ham eslah kon:
    Forex Analysis & Reviews: Technical Analysis of GBP/USD for October 26, 2021



    Technical Market Outlook
    The GBP/USD pair has failed to break through the technical resistance located at 1.3790. The momentum remains positive, but is not that strong yet as the market conditions are coming off the overbought levels and the bearish pressure intensify. The immediate technical support is seen at the level of 1.3726. The larger time frame trend remains up and the bulls have a chance to make a Bullish Engulfing candlestick pattern at the daily time frame chart.

    Weekly Pivot Points:
    WR3 - 1.3933
    WR2 - 1.3884
    WR1 - 1.3802
    Weekly Pivot - 1.3757
    WS1 - 1.3683
    WS2 - 1.3629
    WS3 - 1.3554

    Trading Outlook:
    The up trend on a larger time frame charts is being continued, but only a sustained breakout above the level of 1.4000 would improve the outlook to more bullish with a target at 1.4200. 100 DMA is located at the level of 1.3792 and 200 DMA is seen at 1.3846.

    Analysis are provided byInstaForex.

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