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

EUR/USD
Yesterday, the euro slightly corrected after the hype of Wednesday's fall, supported by the MACD line on the daily chart. Yesterday's growth was offset by a decline in today's Asian session. It looks like the euro is going to attack the support of the MACD line at 1.2077. Getting the price to settle below this line will further strengthen the euro's decline to the target range of 1.1870-1.1915. Interim target of 1.1980.

The price is breaking the support of the MACD line on the four-hour chart. Ahead of it there is a range of support at 1.2058/77, leaving it will become a signal to reach the nearest target of 1.1980.

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Forex Analysis & Reviews: Forecast for EUR/USD on February 1, 2021

EUR/USD
The euro traded in a limited range last Friday, as it did on Thursday, staying between the MACD indicator line (1.2080) and the reference level of 1.2177 on the daily chart. Here we see that at the moment the Marlin oscillator's indicator line is slightly increasing, which will make it possible for the price to continue consolidating for at least tttday. The euro will accelerate its decline only when the price goes under the MACD line, below 1.2080. The first target is 1.1980, then the range is 1.1870-1.1915.

The price is also developing above the MACD indicator line on the four-hour chart. The 1.2080 level coincides with the lows of January 28 and 20, which makes it more significant. The Marlin oscillator is growing, reaching the border of the territory of positive values. The sideways movement of the euro is likely to continue today.

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Forex Analysis & Reviews: Forecast for EUR/USD on February 2, 2021

EUR/USD
Yesterday, the euro finally decided to overcome the support of the MACD indicator line. The euro fell by 75 points. Now the 1.1980 target is open. The 1.1870-1.1915 range, which is the second target, is just below it. A weak risk of such a decline is seen in the initial stage when forming a price convergence with the Marlin oscillator. But this is still an alternative to today's scenario.

The situation is completely decreasing on the four-hour chart; the price is below the balance and MACD indicator lines, while the Marlin oscillator is in the zone of negative values, there is no convergence according to Marlin. Since the price surpassed yesterday's low (1.2056), we are waiting for it to move to the first target of 1.1980.

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Forex Analysis & Reviews: Forecast for EUR/USD on February 3, 2021

EUR/USD
Yesterday, the euro settled below the MACD indicator line on the daily chart. This suggests that now the road to a medium-term decline with the 1.1760 target and, probably, below, in the target range of 1.1550/75 is open. The goals are still to be specified.

But at the moment there is a circumstance that can disrupt the plan to pull down the price to the nearest targets: 1.1980 and 1.1915. This is a sign of the price convergence with the Marlin oscillator. If this convergence is completed and it turns out to be strong, the price will be able to return to the area above the MACD line and then a new downward momentum will be carried over for several more days. In the meantime, the correction is limited by the resistance of the MACD line at 1.2083.

There are no clear reversal signs on the 4-hour chart. The Marlin oscillator is growing in a downward trend zone. The price and the oscillator are growing within a moderate correction. The main scenario - the imminent end of the correction and the price falling to the first target of 1.1980 and to the second target at 1.1915 has higher chances, about 70%.

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Forex Analysis & Reviews: Technical Analysis of GBP/USD for February 4, 2021

Technical Market Outlook:
The bearish pressure on GBP/USD has increased and the market has broke below the technical support located at the level of 1.3608. This level will now act as an intraday technical resistance. The local low was made at the level of 1.3586, so the next target for them is the intraday technical support located at the level of 1.3519. The market is coming off the overbought conditions and the momentum is weak and negative, pointing down. The key mid - term technical support is seen at the level of 1.3428, but please pay attention to any breakout below the trend line support around the level of 1.3500 first. This might be the first indication of a potential move lower.

Weekly Pivot Points:
WR3 - 1.4011
WR2 - 1.3877
WR1 - 1.3788
Weekly Pivot - 1.3646
WS1 - 1.3564
WS2 - 1.3416
WS3 - 1.3342

Trading Recommendations:
The GBP/USD pair keeps developing the up trend and the trigger for this trend was the breakout above the level or 1.3518 on the weekly time frame chart. The recent top was made at the level of 1.3744 and this was the higher close in over two years. All the local corrections should be used to open a buy orders as long as the level of 1.2674 is not broken. The long-term target for bulls is seen at the level of 1.4370.

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Forex Analysis & Reviews: Forecasts for GBP/USD on February 5, 2021

GBP/USD
The Bank of England kept its monetary policy at yesterday's meeting, but announced that it does not consider negative rates as a mandatory instrument and will not introduce them without warning at least six months in advance. The verbal attack was successful, the pound jumped 130 points from the day's low, closing the day by 27 points. This morning, inertial growth continues, but it is unlikely to be significant, as in the evening US employment data and forecasts for them are optimistic: the growth of jobs in the non-agricultural sector is expected to 50,000 after December - 140,000. The Marlin oscillator continues to move sideways on the daily chart. The task is the same - to gain a foothold below the 1.3648 level, in order to calmly go to 1.3550 and 1.3500.

The price went above the MACD line on the four-hour chart this morning, while Marlin is in the growth zone. The price may rise to the local high of 1.3710 before the release of US statistics.

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Forex Analysis & Reviews: Forecast for AUD/USD on February 8, 2021

AUD / USD
The Australian dollar rose by 77 points last Friday, breaking the level of 0.7641. Now, you should wait for the price to go back under this level so that you can start selling again. Today, the important macroeconomic data are not released, and the weakened indicators on the trade balance in Germany are expected tomorrow, which can move European currencies going down even more and along with them the "Australian" will weaken.

As we can see on the daily chart, the signal line of the Marlin oscillator has almost reached the upper limit of its own descending channel, and here the indicator may linger.

Based on the four-hour chart, the price is fixed above the indicator lines of the balance and the Kruzenshtern line. The Marlin is at the top but it is turning slightly. It is quite possible that the AUD/USD pair will have enough potential to stay here for a day.

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Forex Analysis & Reviews: Forecast for AUD/USD on February 9, 2021

AUD / USD
On the back of yesterday's pronounced increase in risk appetites given by the large-scale growth of cryptocurrencies - the value of this market for the day increased by 143 billion dollars, which led by bitcoin with a trading volume of 120 billion dollars, and the total capitalization of this market yesterday was 1.316 trillion dollars. Dollars, increased to 1.363 trillion, which strongly affected the market of real national currencies and stock markets: the Australian dollar rose by 26 points, the S & P500 added 0.74%.

As we can see on the daily chart, the signal line of the Marlin oscillator has left the descending channel up and is currently preparing to enter the zone of positive values. The price itself went to the target range of 0.7765 / 83 (defined by the peaks of January 21 and 13), after which it can go to storm the January high of January 6, the target of which is slightly higher - 0.7830.

Based on a four-hour scale, the situation is completely growing: the price rises above the indicator lines, the Marlin oscillator rises without signs of a reversal. So, the nearest target of the Australian dollar is 0.7765/83.

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Forex Analysis & Reviews: Forecast for AUD/USD on February 10, 2021

AUD / USD
Yesterday, the Australian dollar rose by 36 points. There is still much time left to go to work out the target range of 0.7765 / 83. Thus, it is already becoming much more difficult for the "Australian". The Marlin oscillator outlines a reversal from the border with the territory of growth. The price can work out the target range with a declining oscillator, but the growth should slow down, respectively, the goal will be reached only tomorrow.

Based on the four-hour chart, the Marlin is not pronounced but it is only discharged perhaps before the further growth. But be that as it may, the time for purchases is not suitable, it is only possible to hold previously opened positions.

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Forex Analysis & Reviews: Forecast for USD/JPY on February 11, 2021

USD/JPY
The yen has been lingering suspiciously long at 104.62, forming a new consolidation on it. Such consolidation indicates the intention of the market to continue the decline, in this case, the target is to support the embedded line of the price channel in the area of 104.02. The signal for such a breakthrough will be the transition of the price under yesterday's low of 104.42.

If the price still intends to continue to grow, then it must do it today, overcoming the top of yesterday's 104.85. The Marlin oscillator on the four-hour chat is turning up, this sign preserves the probability of price growth.

But before reaching the main target of 105.33, the price will need to overcome two previous levels: the already specified 104.85 and 105.05 along the MACD line on H4. It is the MACD line that is now of the greatest importance; if the price cannot overcome it, then a trend reversal will occur with the intention of working out 104.02.

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Forex Analysis & Reviews: Cryptocurrency for everyone: the oldest bank of US BNY Mellon will conduct operations with digital assets

The cryptocurrency market, after a slight decline, began to strengthen its position again and grow in price. The euphoria after the news from Elon Musk has already faded, but bitcoin continues to grow and on February 11 sets a new historical high, rising by 4% over the past day. The cost of the main cryptocurrency reached the mark of $48.4 thousand. The reason for this growth was the news about the launch of operations with the Bank of New York Mellon and Mastercard cryptocurrencies.

Even though large investment companies in America have already shown interest in cryptocurrency, the US Securities Commission quite categorically considers applications for the ability to conduct operations with digital money. Everyone thought that Visa and Tesla would launch the necessary wave of interest, but few could have predicted that the largest and oldest US bank would start working with cryptocurrency. The financial giant is already developing the necessary software for working with cryptocurrencies, which will be available this year.

Against the background of this news, the value of bitcoin soared by 4%, which indirectly affected other coins. The cryptocurrency market is steadily growing in price, with small drawdowns, for the second week in a row. Large investors are showing increasing interest in bitcoin, which will become a flagship in the assimilation of the crypto market and global financial institutions. Given that these announcements are of a long-term nature, in the near future we should expect new historical highs in prices for other cryptocurrencies.

The interest of retail and large investors, as well as the development of software for the introduction of crypto coins in global financial institutions, makes the interest in the crypto market more conscious and not spontaneous. In turn, this affects the dynamics of rising and falling prices, price correction and the flow of investment. Together, all these factors can affect the high volatility of the cryptocurrency, which will be the main step in the introduction of these assets in financial transactions at the household level.

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Forex Analysis & Reviews: Hot forecast for EUR/USD on 02/15/2021

We can absolutely calmly say that the single European currency has actually stood still for several days in a row. Of course it gradually decreased for nearly the entirety of Friday, and it completely won back all these losses closer to the end of the US session. But the scale of these movements, at best, can be called extremely modest. Something in the region of thirty points one way and the other. Which, in general, is not surprising, since the macroeconomic calendar was completely empty on Friday. So there was simply nothing for investors to grab onto.

Today the situation is somewhat different, as data on retail sales will be published in Europe, which should show zero growth. More precisely, they can show no change in annual terms. And oddly enough, this can be perceived as an extremely positive factor, since the European industry has been declining for twenty-five consecutive months. That is, it has been decreasing since November 2018. The data for December last year will be published today. In general, despite the depressing state of affairs in the European industry, the fact that the recession has stopped already seems like incredible growth, which will contribute to the euro's appreciation. Industrial production (Europe):

After a short pullback from the resistance point of 1.2150, the EURUSD pair returned to the area of last week's high, while showing interest in growth.

The market dynamics is below average, while local jumps are slipping in the market, which indicates that speculators are on it.

Based on the quote's current location, it is clear that market participants are already practically touching the resistance level of 1.2150, where, given the recent pullback, a regrouping of trading forces could have occurred, which will positively affect the volume of long positions.

Considering the trading chart in general terms, the daily period, you can see that the quote follows in the structure of the corrective move from the high of the medium-term trend of 1.2349, where, taking into account the recovery, we are about halfway from the high of the trend.

We can assume that the recovery process relative to the corrective move may continue to be present in the market, but in order to do so, the quote needs to stay above 1.2155, which will open the way in the direction of 1.2190, this is the first point of a possible move.

In case the price does not surpass the 1.2155 level on a four-hour period, then a fluctuation along the 1.2110/1.2160 range is not excluded.

From the point of view of a comprehensive indicator analysis, we see that the indicators of technical instruments signal a buy, since the quote can be found in the 1.2150 region.

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Forex Analysis & Reviews: Elon Musk continues to manipulate the currency market

Once again, news from Elon Musk, who has recently become extremely interested in the cryptocurrency market, comes out. Recall that at first, his comment on the social network led to an increase in bitcoin by $5 thousand, and then his company Tesla announced the purchase of bitcoin in the amount of $1.5 billion, which provoked an increase of another $5,000. Thus, in principle, only Elon Musk is responsible for a fifth of the cost of the "cue ball" at this time. It's scary to imagine what will happen if Musk or other similar businessmen comment on cryptocurrencies every couple of days. However, Musk decided to give bitcoin a break and switched to the Dogecoin cryptocurrency. In the social network Twitter, Musk made a post in which he supports the potential solution of large holders of the Dogecoin. According to Musk, the problem with the token is that it is concentrated in too narrow a circle of owners. After this statement, Dogecoin fell by 19%. Earlier, the same Elon Musk commented on the same cryptocurrency Dogecoin (wrote that it is undervalued) and then followed a powerful growth. Thus, only one owner of Tesla is responsible for four powerful jumps in the cryptocurrency market and this is only in the last 7-10 days. Well, traders can once again personally observe what is happening in the cryptocurrency market and what are the reasons for this. Bitcoin, by the way, this night again rose in price and is already worth almost $50,000 per coin. At the same time, it is still extremely difficult to name at least one fundamental reason why the cryptocurrency has grown 5 times in a few months. And it's not just Bitcoin that's growing! Other cryptocurrencies are also being pulled up, ergo, the entire cryptocurrency market is growing. The more news of this nature from Elon Musk or other major investors and companies we will receive, the more likely it is that cryptocurrencies will continue to grow in price. We continue to insist that sooner or later there will be a collapse. There will not be a scenario in which bitcoin will grow to $100,000 per coin, and then adjust to $80,000 and remain at this level in the medium term. No, when large investors start taking profits on long positions, then the "domino effect" will begin, everyone will immediately rush to sell bitcoin and other major cryptocurrencies at the maximum value, which will lead to the collapse of the entire cryptocurrency market, as it was already in 2017. Therefore, we still believe that bitcoin is a great tool to make money, but we need to be prepared for its collapse.


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Forex Analysis & Reviews: Forecast for EUR/USD on February 17, 2021

EUR/USD
Yesterday, the euro failed to take the opportunity to reach the 1.2190-1.2272 range. The excellent European ZEW Economic Sentiment did not even provide support to the euro, which grew from 58.3 to 69.6 while expectations were at 59.2, and the GDP for the fourth quarter showed a decline of -0.6% against the forecasts at -0.7%. But investors were happy with the growth of activity in the manufacturing sector in New York, which showed an increase from 3.5 to 12.1. As a result, the euro lost 23 points in a day.

Today, investors have more serious reasons for strengthening the dollar: retail sales for January are forecast to grow by 1.1%, industrial production is expected to grow by 0.5%.

The price moves back down below the MACD indicator line on the daily chart, while the Marlin indicator also returns to the downward trend zone. Now the price is facing the 1.1870-1.1915 target.

The price also goes under the MACD line on the four-hour chart, while Marlin has already consolidated in the zone of negative values. We look forward to further weakening of the euro.

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Forex Analysis & Reviews: Trading plan for EUR/USD on February 18

The situation with COVID-19 is stabilizing. There is a strong decline in incidence in both United States and Europe. In fact, the US steadily recorded new cases below 100,000.

Vaccinations are also starting to progress rapidly, but only in the US and Britain.

EUR/USD is trading downwards. Primarily, this is because of strong economic data from the US.

Open short positions from 1.2080 to 1.2125.

Price will continue to decline if employment data (in the US) also comes out better than expected.

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Forex Analysis & Reviews: Forecast for AUD/USD on February 19, 2021

AUD/USD
The support of the balance indicator line has confirmed its impact on the price. After reaching the lower shadow, the price successfully broke through the entire range of 0.7765/83 and closed the day inside it. However, it is now trying to leave it in order to decline. In this case, the price should consolidate below yesterday's low, and move below the balance indicator line. If so, we can expect the downward trend to extend to the target range of 0.7625/41. The Marlin Oscillator is in the area of positive levels, and thus, we should get ready to break through this today.

In the H4 chart, yesterday's low of 0.7732 is located below the MACD line (blue moving average). This level can be a good pivot point to determine the price's intention to continue its decline. Here, the Marlin Oscillator is in the negative trend zone. It is possible that an attack on the signal level of 0.7732 will be made today, but the development can only be expected next week.

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Forex Analysis & Reviews: Forecast for GBP/USD on February 22, 2021

GBP/USD

The pound was trying to reach the target level of 1.4070 on the reversing Marlin oscillator last Friday and also this morning. The price, especially with the support from the growth of other world currencies, still has the opportunity not only to reach this level, but also to rise above it. But if there is no such support, the price will return to the 1.3950/65 range and, after settling below it, will go further down to the target level of 1.3835.

The four-hour chart shows that the probability of forming a divergence with the Marlin oscillator still remains, only it will be weaker. The divergence will not be broken if the price rises to the 1.4070 level. To open short positions, you are advised to wait for the price to settle under the range of 1.3950/65.

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


EUR/USD
Yesterday, the euro received strong ideological support from the expected growth trends in US government bond yields. The yield on 5-year securities did not grow very high, but it overcame the psychological level of 0.60% and there were forecasts (rather expectations) of growth to 1.0%, 1.5% and even 2.0%. If this goes on, then the euro will have great prospects. The Federal Reserve should somehow intervene in the emerging situation, because with a government debt of 27.896 trillion. dollars, to which another 1.9 trillion will be added. according to the "Biden plan", its maintenance will be difficult. We believe that the US central bank will take control of the yield curve earlier than the markets expect. It is possible that the media are already fulfilling a social order, raising a fuss on this issue

Now the euro is facing the task of consolidating above the 1.2190 level. In this case, the subsequent correction from the 8th Fibonacci timeline will not be deep, approximately to the MACD indicator line (1.2100), afterwards the price may continue to rise to the upper target of 1.2272. The price is above the balance indicator line, while Marlin moves into the positive trend zone, the probability of growth is 80%.

The price reversed from the support of the MACD line on the four-hour chart, it increases without signs of a reversal.

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Forex Analysis & Reviews: Forecast for EUR/USD on February 24, 2021

EUR/USD
Yesterday, the euro stopped rising on its way to the nearest target of 1.2190, but it is still determined to reach not only this target, but also 1.2272. Drifting under the MACD line, below 1.2105, will return the euro to a downward trend.

The price rises on the four-hour timescale, while the Marlin oscillator turns up. We are waiting for the price to overcome the first target at 1.2190.

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Forex Analysis & Reviews: Forecast for USD/JPY on February 25, 2021

USD/JPY
The US dollar showed a significant increase against the Japanese yen on Wednesday. Thus, it is now possible not only to reach the target range of 106.50/65 in the near future, but also to break through it, with the aim to rise further towards the target range of 107.35/50.

The price consolidated above both the balance indicator (red) and MACD lines in the H4 chart. Meanwhile, the Marlin oscillator is in the upper zone. The upward trend is likely to strengthen after the price managed to break through the February 17 high set at 106.23.

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