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Forex Analysis & Reviews: Forecast for GBP/USD on February 26, 2021

GBP/USD
The technical spike, that the British pound formed on Thursday, completely worked out yesterday - the pair dropped 128 points. The price reached the target range of 1.3950/65 this morning. Falling below the lower border of this range opens the next target at 1.3830 - the low on February 17. A correction is likely from this level, since by this time the signal line of the Marlin oscillator will reach the border with the territory of the downtrend and, most likely, will not overcome it on the first attempt.

The price settled below both indicator lines on the four-hour chart - balance and MACD, while Marlin is deeply in the negative zone. The trend is completely downward.

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

EUR/USD
The euro fell by 99 points last Friday, broke through the support of the MACD line, but the Marlin oscillator only touched the border of the downward trend area and now a correction is taking place.

The downward momentum is set strong, we are waiting for the price to move to the 1.1870-1.1915 target range. From the specified range, we expect a correction of the order of one figure, afterwards it could fall again (1.1760). The nearest target, however, is 1.2023, but in order to reach it, it is necessary to overcome Friday's low, as shown on the four-hour chart.

The trend is completely downward on the four-hour chart, while the Marlin signal line is slightly to the upside, showing the current correction.

So, we are waiting for the price to surpass the signal level of 1.2062.

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

EUR/USD
Yesterday, the euro traded in a range of 74 points, closing the day with a decline and consolidation below the balance (red) and MACD (blue) indicator lines. The balance line shows the market mood within the trend, the MACD line determines the trend itself. Now the price is approaching the target level of 1.2023, identified at the February 17 low. Getting the price to settle below it opens targets like 1.1915, then 1.1870. The Marlin oscillator is in a downward trend zone.

The price continues to fall without signs of a reversal on the four-hour chart:

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Forex Analysis & Reviews: Forecast for AUD/USD on March 3, 2021

AUD/USD
The Australian dollar moved higher yesterday with the support of the Marlin oscillator, which has penetrated the area of the rising trend on the daily chart. But since this is a correctional growth, we do not expect a succeeding significant growth in price. There is an increase in prices on the commodity market and AUD/USD will feel a little better than European currencies, albeit without a pronounced growth.

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The correction continues on the four-hour chart, the growth limit is seen in the area of the MACD line, near the level of 0.7875. After getting the price to settle below the target range of 0.7765/83, we expect it to fall to the range of 0.7625/41 (peak on December 17, 2020).

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Forecast for GBP/USD on March 4, 2021

Yesterday, the British pound briefly jumped above the target range of 1.3950/65 and returned below its lower bound. The price continues to moderately decline at the moment. The Marlin oscillator is preparing to move into the negative zone, which will strengthen the decline to the first target level 1.3822. Then we wait for the quote at the MACD line in the 1.3727 area - in the accumulation range of the last decade of January.

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The Marlin oscillator is already in the downward trend zone on the four-hour chart, we are waiting for a succeeding decline from the pair.

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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
 
Forex Analysis & Reviews: Forecast for AUD/USD on March 5, 2021

AUD/USD
Yesterday, the Australian dollar was expectedly supported by the leading currencies. The US dollar index strengthened by 0.69%. At the same time, the Australian dollar hardly lost much (46 points), pausing at the support of the MACD line. And then, it did the main thing – During the Asian trading session, it broke through the support and quickly declined. The Marlin oscillator has forcefully entered the downward trend zone. Thus, the situation has become completely declining.

On the daily chart, the targets are set at 0.7615, 0.7565, 0.7500, 0.7375. The medium-term target of the AUD/USD pair is located at 0.7170 level, from which there was a formation of complex consolidations last summer and autumn 2020.

The MACD signal line in the H4 chart has left the consolidation at the zero level below (gray area on the chart), and is going deeper into this negative zone. The situation is fully downward.

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Forex Analysis & Reviews: Forecast for USD/JPY on March 8, 2021

USD/JPY
Last Friday, the USD/JPY pair continued its intensive growth, reaching above the target level of 108.16. Visually, the price will close today with a white candle, but the Marlin oscillator has already reached the overbought zone and is planning a reversal from the upper limit of its own growing channel. This morning came the data on Japan's balance of payments for January, which showed a deterioration in the indicator: 0.647 trillion yen versus December 1.166 trillion and forecasted 1.23 trillion yen. The data, of course, does not contribute to risk appetite (Nikkei 225 adds 0.2% against the background of the Australian S&P/ASX 200 1.20%). But nevertheless, stock indexes are growing and keeping the dollar from a deep correction. It is possible that the correction will not go even under the overcome level of 108.16 (the top of July 1, 2020), so today can be closed with a small black candle. And tomorrow, the growth will continue to the previously defined target of 109.10. From this level, a deeper correction is already likely and the exit of the signal line of the Marlin oscillator from the growing channel will become false, it will return to it later.

There are no reversal signs on the four-hour chart, only the Marlin slightly decreases with the last three candles growing, but this is still not a trend and not a signal for a reversal. We are waiting for developments. Today, the main factor is time.

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Forex Analysis & Reviews: Forecast for EUR/USD on March 9, 2021

EUR/USD Yesterday, the euro decided to go down from its local price channel. Now the following target levels are ahead: 1.1800 (low of November 23, 2020), 1.1745 (low of November 11), 1.1688-1.1700. The main target is the last one- the 1.1688-1.1700 range, which is referenced by the low on October 15, 2020.

The price divergence with the oscillator develops on the four-hour scale, but if it is not broken today, then only a nominal correction is expected, to the lower border of the price channel, from which the price left yesterday (1.1880).

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

AUD/USD
Yesterday, the Australian dollar gained 68 points. And although it did not try to break through the support level of 0.7615, it managed to work out the resistance of the MACD line on the daily time frame. This morning, the price is declining again, so we should still expect it to fall further towards the 0.7615 mark. Meanwhile, commodity markets have outlined a decline, which supports the currency pair. In this case, a prolonged decline can be expected tomorrow, when the ECB announces its monetary policy guidelines. The targets remains at 0.7565 and 0.7500.

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The Marlin Oscillator slightly went above the neutral line in the four-hour chart, but it is going to return along it. Otherwise, the situation will remain unchanged, that is, moving downwards.

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Forex Analysis & Reviews: Forecast for EUR/USD on March 11, 2021

EUR/USD
Another day passed in anticipation of the European Central Bank meeting. Yesterday, the trading range for the euro was 60 points without any attempts at serious action. According to the general median opinion prevailing in the market, the ECB in the face of the European recession should show at least verbal softness, declaring its readiness to use any means of accommodation policy at any time, up to a rate cut. And since investors are already tuned in to such rhetoric, it is already easier to find it even in an essentially neutral speech. Our main scenario assumes that the price would move from the descending price channel of the daily timeframe (1.1874) and advance towards targets like 1.1800, 1.1745.

On the four-hour chart, the increased exit of the Marlin oscillator into the growth zone is suspicious, but the current significance of the ECB meeting is so great that it can easily change any technical picture. In case the euro sharply falls, Marlin will have a longer downward movement. This is how this indicator will be read, but not now, but it is a fact.

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Forex Analysis & Reviews: Forecast for USD/JPY on March 12, 2021

USD/JPY
The Japanese yen continued to adhere to its target yesterday to exit the declining price channel, that is, above the 109.17 mark, move towards the target level of 110.34, and possibly further rise. If we analyze the pair's growth amid the confusing ECB meeting on Thursday, there is a high probability that the price will reach the specified target level. The Marlin Oscillator signal line is also directed upwards.

The price in the H4 chart is supported by the balance indicator line. On the other hand, the Marlin is approaching the border within the growth area. Thus, the price is expected at the nested line of the upward price channel in the area of 110.34.

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Forex Analysis & Reviews: Forecast for GBP/USD on March 15, 2021

GBP/USD Last Thursday and Friday, the pound went above the target level of 1.3950 for a short time and is now preparing to attack the support of the MACD line (1.3800). Success will lead the pound to advance to deeper targets: 1.3630 and 1.3460. The same maneuver with a short-term exit above the neutral level was made by the Marlin oscillator and now it is in the downward trend zone.

The price is between the MACD line and the 1.3950 target level on the four-hour chart. The Marlin oscillator is formally in the growth zone, but it still moves horizontally along the border. A more probable development of the situation will be the price drift under the opening of the week (and under the MACD line on H4) and advance to the first target of 1.3800.

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Forex Analysis & Reviews: Forecast for AUD/USD on March 16, 2021

AUD/USD
On the daily chart, the Australian dollar is trying to gain a foothold under the MACD indicator line. But for a complete consolidation, it is necessary for today to close with a black candle. The Marlin Oscillator has entered negative territory.

It looks like the Australian dollar, along with the European currencies, is waiting for tomorrow's Fed meeting. But it may still slowly decline because oil, gold, metals, and a number of agricultural commodities are getting cheaper yesterday and this morning.

On the four-hour chart, the price is still above the MACD line. A decline in the price below 0.7724 will be a signal to open short positions. Marlin is already in the negative zone.

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Forex Analysis & Reviews: Forecast for AUD/USD on March 17, 2021

AUD/USD
Yesterday, the Australian dollar consolidated under the blue MACD indicator trend line on the daily chart. This signals a change in the trend that reversed from the 0.8010 mark on February 25. At the same time, the Marlin Oscillator has entered the downward zone, thereby putting relevance to the target levels set at 0.7615, 0.7565 and 0.7500 on the specified chart.

The price in the H4 chart is still above the MACD line, but the Marlin oscillator shows that it is determined to break through this support immediately. During the past day, an attempt was made to break through the MACD line, but ended unsuccessfully. Today, there will be a stronger pressure from the outcome of the FOMC meeting. If the price moves below the MACD line (0.7717), the path will be opened towards the first target level of 0.7615.

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Forex Analysis & Reviews: Forecast for USD/JPY on March 18, 2021

USD/JPY
The Japanese yen did not react strongly to the sharp weakening of the dollar yesterday after the announcement of the Fed's optimistic economic forecasts. The yen preferred to extend the consolidation and look around. This morning, the dollar stopped falling, and stock indexes continued to rise. This situation once again favors the USD/JPY pair in continuing to grow towards the target of 110.35. A weak divergence with the Marlin oscillator, as we noted yesterday, takes on the character of a discharge of the indicator before further growth.

On the four-hour chart, the price is still below the MACD indicator line, the Marlin is formally in the growth zone, but continues to move sideways in its own range. The signal to buy will be the exit price above yesterday's top, 109.34.

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Forex Analysis & Reviews: Forecast for USD/JPY on March 22, 2021

USD/JPY
The USD/JPY pair was in a neutral state last Friday, closing the day almost at the opening level, this morning the market opened with a falling gap of 22 points, closed in the next half hour of trading. Conditions have been created in order for the price to move up to the embedded line of the rising price channel of the higher timeframe (110.37), but the Marlin oscillator is descending along a steep trajectory, which is more likely to prolong the price consolidation of the last five sessions. A reversal of the indicator and a breakout of the price to the upside is likely tomorrow on Tuesday.

The price, with the gap closing, returned to last week's consolidation range highlighted by the gray rectangle on the four-hour chart. The Marlin oscillator did not leave its own range. With the dollar's strength, and the price going over the MACD line in the area of 109.35, it is likely that the price will move to the upside.

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

EUR/USD
In yesterday's correction by closing the gap from the opening of trades, the euro overdid it a little, forming a white candlestick of 50 points, while other currencies were limited only to closing the gap. The price decided to work out the resistance set by the February 5 low and the correction was 62% from the March 18 high. The Marlin oscillator is developing in the negative area on the daily chart. Now we are waiting for the euro to fall to the first target level of 1.1800 - to the low on November 23, 2020.

The balance indicator line kept the price growing on the four-hour chart. Marlin slightly went into the growth zone, but with general reversal moods, it can quickly return back to the negative half. The MACD indicator line looks loose, playing the role of a technical shaft, on which the price is wound. Nevertheless, being able to settle below it, under 1.1880, may become a working signal of the consolidated downward trend in the short term.

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Forex Analysis & Reviews: Forecast for AUD/USD on March 24, 2021

AUD/USD
This morning, the Australian dollar reached its first target set at 0.7615, after losing 114 points yesterday. The main impulse was the New Zealand dollar, which declined by 150 points due to the introduction of budgetary measures to curb the growth of real estate prices.

On the daily chart, Marlin Oscillator's signal line began to slightly turn. This suggests that the correction can be either from the reached level of 0.7615 or from the lower target level of 0.7565 (low of February 2). Regardless, the downward trend has already started, so we will wait for the price at the levels of 0.7500 and 0.7375.

The price in the H4 chart is making an attempt to break through the support level of 0.7615, with the Marlin oscillator moving down. A consolidation below which will lead the quote to the 0.7565 mark. After that, we can expect a fair correction to eliminate the oscillator from the oversold zone.

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

USD/JPY
The USD/JPY currency pair managed once again to overcome the circumstances and refrained from a deeper correction, the goals of which were 108.16 and 107.35/50. The price turned around from the upper limit of support on March 10 to 11 and it resumed growth towards the target of 110.37 in the Asian session today, with the Marlin oscillator turned up. The target is determined by the nested line of the growing price channel of the monthly time frame.

Based on the four-hour scale chart, the signal line of the Marlin oscillator now seeks to exit its own consolidation going up. The price overcame the resistance level of the balance indicator line, which shifted the priority to the pair's purchases. The nearest growth target, intermediate before 110.37 will be at 109.34 – the Kruzenshtern line unfolding upwards.

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

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

EUR/USD
Yesterday, the price of the lower shadow of the daily candle almost reached the upper border of the target range of 1.1688-1.1700. The upper limit can still be taken, the October 19, 2021 low at 1.1703, then the range will correspond to the extremes of October 15-19, and in this case it will be reached with an accuracy of point (1.1704).

Today's US report on the ISM manufacturing PMI for March is expected to grow from 60.8 to 61.3, weekly applications for unemployment benefits are expected to decline from 684,000 to 680,000, and tomorrow the unemployment data will be released, in which new jobs in the non-agricultural sector are expected to reach 647,000(!) against 379,000 in April, while the unemployment rate is predicted to decrease from 6.2% to 6.0%.

All these circumstances make us think that the development of the Marlin oscillator in its own triangle will follow the option with the lower output (dashed line on the chart), and the current double convergence will be abolished. The euro will aim for 1.1560, the area of the January 2019 high and the November 2017 low.

The convergence flared up and went out on the four-hour chart. The signal line of the Marlin oscillator, after entering the growth area, found itself in negative territory again. The price may stay in the range of 1.1700/4-1.1745 for some time, but tonight or tomorrow it will go down, especially since the market will be thin due to the Catholic Easter holidays.

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