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Forex Analysis & Reviews: Trading Signal for GBP/USD on November 3-4, 2022: buy above 1.1378 (200 EMA - bottom bearish channel)

In the next few hours, we could expect a technical bounce above the 200 EMA around 1.1378. So, the price could reach 3/8 Murray at 1.1474 and even 1.1550 (top bearish channel).

Conversely, in case of a sharp break below the 200 EMA and a daily close on the 4-hour chart below 1.1370, the currency pair could continue the bearish bias and the price could reach 2/8 Murray around 1.1230.

The eagle indicator is giving a negative signal and any bounce towards the psychological level of 1.15 will be considered a signal to continue selling. Our trading plan for the next few hours is to buy above the 200 EMA and above the bottom of the downtrend channel around 1.1378 with targets at 1.1474 and 1.1530.

On the other hand, the signal to sell will be activated if there is a strong break below 1.1370 (200 EMA) with targets at 1.1230.

As long as the GBP/USD pair trades within the downtrend channel formed since Oct 26, any technical bounce back towards the 21 SMA located at 1.14 98 will be seen as an opportunity to sell.

*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 GBP/USD on November 4, 2022

The Bank of England raised the rate to the expected 0.75% and warned of two points: in the future, the pace of the rate hike will slow down, from the 3rd quarter the UK economy will enter a recession and it will last until mid-2024 with an increase in unemployment until the end of the 25th year to 6.4%. The pound fell by 230 points. Data on British GDP for the 3rd quarter will be released on November 11, the forecast of economists is -0.2%, obviously, the forecast coincides with the calculations of the central bank.

The decline continued to the target level of 1.1170 on the daily chart. The signal line of the Marlin Oscillator went below the zero line into the area of the downtrend. After the price settles under 1.1170, we are waiting for the pound to fall further to 1.0785 - to the line of the price channel of the higher timeframe.

On the four-hour chart, the price, together with the Marlin Oscillator, is turning into a slight correction. Perhaps the correction will last until the first noticeable resistance at 1.1260 - the former local support for October. After the end of the correction, we are waiting for a further fall towards the specified target.

*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: USD/JPY analysis for November 07, 2022 - Triangle pattern in creation

USD/JPY has been trading sideways at the price of 147.45. I see potential for the breakout play. Trading recommendation:

Due to the range condition, watch for potential breakout of the trading range to confirm further direction. In case of the upside breakout of the resistance at 148.80, watch for buying opportunities with the upside objective at 151.85.

In case of the downside breakout of the support at 145.65, watch for selling opportunities with the downside objective at 141.85 *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 AUD/USD on November 8, 2022

The Australian dollar managed to overcome the resistance of the MACD indicator line on the daily chart. Today it opened above this line. Now the price will try to master the target range of 0.6514/32. If it is overcome, then the next target will be the level of 0.6592.

The daily Marlin Oscillator is in the neutral position, and it reached a reversal level on October 27 and August 12 (0.0185 on the indicator scale), which increases the psychological tension in connection with the upcoming US Congressional elections today.

On the four-hour chart, the price is above the indicator lines, Marlin is in the positive area and shows the intention to develop a sideways movement. In general, the expectation is positive, that is, the market is preparing to meet the victory of the Republicans. But we are not in a hurry with such expectations, so we just follow the course of events.

*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: Elliott wave analysis of Litecoin for November 9, 2022

We have seen a deeper-than-expected correction here, as we have seen a correction to the 78.6% corrective target near 53.72, but then it's just in the middle of the fourth wave of one lesser degree, which is normally what we would expect to see. Therefore, we expect Litecoin to start the next journey higher towards the S/H/S bottom target at 97.38.

Only an unexpected break below the key support at 48.41 will invalidate our bullish scenario for the expected rally higher to 97.38 and above.

*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 November 10, 2022

The elections to the American Congress turned out to be far from being as tragic for the Democrats as the US and other world media predicted. Seats in the Senate were distributed equally 48/48. There will be re-elections in several states in December to determine the winners. The seats in the lower house this morning were distributed as follows: 182 for the Democrats, 205 for the Republicans. As a result, conflicts are already brewing in the Republican camp, a number of functionaries are demanding that Trump be removed from influence on the party, and several Republican governors have already spoken out on their nominations for the presidency (DeSantis, Hogan).

Well, the markets continued their fall: S&P 500 -2.08%, euro -0.58%, oil (CL) -3.42%. A divergence has formed with the Marlin Oscillator on the daily chart. The price returned under the level of 1.0051, where it is most likely to close the day. Thus, the nearest target for the euro is the level of 0.9950. Further, we are waiting for the advance to 0.9864. The price is still in an upward position on the four-hour chart, as the development takes place above the indicator lines and Marlin is in the growth zone. A bit above the support of 0.9950 is the MACD line, which will make it difficult and slow down the price to work out this support.

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Forex Analysis & Reviews: Indicator analysis: Daily review of EUR/USD on November 11, 2022

Trend analysis (Fig. 1).
The euro-dollar pair may move upward from the level of 1.0208 (close of yesterday's daily candle) to 1.0246, the 85.4% retracement level (yellow dotted line). When testing this level, a downward pullback is possible.

Fig. 1 (daily chart).
Comprehensive analysis:
Indicator analysis - up;
Fibonacci levels - up;
volumes - up;
candlestick analysis - up;
trend analysis - up;
Bollinger bands - up;
weekly chart - up.

General conclusion: Today, the price may move upward from the level of 1.0208 (close of yesterday's daily candle) to 1.0246, the 85.4% retracement level (yellow dotted line). When testing this level, a downward pullback is possible.

Alternatively, the price may move upward from the level of 1.0208 (close of yesterday's daily candle) to the upper limit of the Bollinger band indicator at 1.0308 (black dotted line). Upon reaching this level, a downward movement is possible with the target of 1.0162, the 14.6% retracement level (blue dotted line).

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

Analysis are provided by InstaForex

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Forex Analysis & Reviews: Elliott wave analysis of Gold for November 14, 2022

Gold has finally broken nicely above resistance at 1,735 confirming that wave C of 4 has been completed and wave 5 towards at least 2,400 is in progress. We will be looking for a rally towards resistance in the 1,799 - 1,809 area from where we could see a temporary correction back to retest the former resistance which now acts as support at 1,735 before the next strong rally higher to 1,912 and 2,070 as the next major hurdles on the way higher to 2,400 and possibly 2,700.

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

Analysis are provided by InstaForex

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Forex Analysis & Reviews: AUDUSD Potential for Bearish Drop | 15th November 2022

With the price moving above the ichimoku cloud on the H4, we have a bullish bias that the price will rise to the first resistance at 0.67711, which is in line with the 161.8% fibonacci line. If the first resistance is broken, the second should be at 0.69161, the previous swing high. Alternatively, the price could fall to the first support level at 0.65398, which is marked by the 38.2% Fibonacci line.

Trading Recommendation
Entry: 0.67711
Reason for Entry: 1st resistance line
Take Profit: 0.65398
Reason for Take Profit:
1st support line
Stop Loss: 0.69161
Reason for Stop Loss:
Previous swing high and 1st resistance line

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

Analysis are provided by InstaForex

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Forex Analysis & Reviews: Technical Analysis of GBP/USD for November 16, 2022

Technical Market Outlook: The GBP/USD pair has been seen moving higher towards the next target for bulls which is located at 161% Fibonacci extension level at 1.2073. So far the local high was made at the level of 1.2026 and then a 2% pull-back followed. The intraday technical support is seen at 1.1760, 1.1734 and 1.1722. The strong and positive momentum on the H4 time frame chart supports the bullish outlook for GBP despite the extremely overbought market conditions, however please stay focused and viligant as the pull-back lower might come any time now as the market looks overstretched o n H4 time frame chart.

Weekly Pivot Points:
WR3 - 1.19243
WR2 - 1.18500
WR1 - 1.18089
Weekly Pivot - 1.17757
WS1 - 1.17346
WS2 - 1.17014
WS3 - 1.16271

Trading Outlook:
The Bearish Engulfing candlestick pattern that was made on the weekly time frame chart has been invalidated and the strong green weekly candle was made. The bulls are temporary in control of the market and the 38% Fibonacci retracement of the last wave down located at 1.1830 had been tested as well. On the other hand, the level of 1.0351 has not been tested since 1985, so the down trend is strong. In order to terminate the down trend, bulls need to break above the level of 1.2275 (swing high from August 10th). *The market analysis posted here is meant to incr

*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: Technical Analysis of Nasdaq 100 Index Intraday Price Movement, Thursday November 17, 2022

On 4 hour chart Nasdaq 100 Index seems visible if #NDX still moving within its Bullish Pitchfork channel even so because of its failure to touch the top line of the Bullish Pitchfork channel it can be considered as Hagopian Rules which confirms that in the near future #NDX will depreciated in the near future where it is also confirmed by the emergence of the Ascending Broadening Wedge pattern so that in the near future #NDX will try to test and broke below the level 11670,5 if this level is successfully broken then #NDX has the potential to fall to 11121.8 as the main target and 10789.1 as the next target to be tested with a note that on its way to the target level it does not return to its initial bias (Bull) until it exceeds above 12082. because if this level is successfully broken, it is very likely that the downside scenario described above will become invalid.

*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 November 18, 2022

Despite the euro's strong desire to go down yesterday, it was not possible to overcome the support of 1.0360, the day closed higher. This morning the price is at the level, waiting for external incentives for further action. Yesterday, such incentives were the fall of oil by 3.76% and the decline of gold by 0.79%.

The daily Marlin Oscillator is declining smoothly, while there are no signs that the price may abandon attempts to break through 1.0360. If this happens, the 1.0205 target will become available.

On the four-hour chart, the price is supported by the indicator balance line (red moving line), but, nevertheless, the Marlin Oscillator has been in the negative area for a long time, so the price is unlikely to stop trying to overcome the supports. On the way to 1.0205, there is a MACD line (1.0260). It is also an important support to overcome. If the attempt is still unsuccessful, then the price may return to 1.0470 or even overcome the high on November 15 to form a divergence.

*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: Technical Analysis of Intraday Price Movements of the EUR/GBP Cross Currency Pair November 21, 2022

On the 4 hour chart EUR/GBP cross Currency pair seems to appear.

1. Deviations between price movements with the CCI indicator.
2. Ascending Broadening Wedge.
3. Bearish Wolve Waves

Based on the three information above it can be confirmed that in the near future EUR/GBP will try to get down below the level 0,8689 where if this level successfully penetrated will potentially bring EUR/GBP down to ETA Line from Wolve Waves and/or to the level 0,8589 as a target that will aim for with a note that if on his way to these levels there is no upward correction movement that penetrates above the 0.8775 level because if this level is successfully broken above, it is very likely that the scenario described previously will potentially become invalid.

*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: Technical Analysis of Intraday Price Movements of the EUR/GBP Cross Currency Pair November 21, 2022

Yesterday, China reported a sharp rise in Covid cases in Beijing, and the return of social restrictions and isolation in several areas in the country. Oil rebounds and stock indices started to decline on risks regarding the collapse of new (after FTX) cryptocurrency platforms (Genesis). Against this backdrop, the euro fell in price by 0.80%.

This morning, the euro is approaching support at 1.0205. The price may correct just a bit, as the Marlin oscillator has a margin to the zero line on the daily chart - up to the limit of the declining territory, and may try to turn up without leaving this area. The bears' success, however, would open the 1.0100/20 target range. The price has settled under the MACD indicator line on the four-hour chart. The Marlin oscillator is in negative territory, in the area where the direction is downward.

These circumstances increase the probability of the attempt to overcome 1.0205. The immediate objective is to settle under 1.0205. Support is technically strong, preliminary price consolidation is likely.

*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: Technical Analysis of Intraday Price Movements of Commodity Currency Pairs, NZD/USD Wednesday, November 23, 2022

On the 4 hour chart kiwi shows that hidden deviations appear between price movements and the CCI indicator which confirms if in the near future NZD/USD will have the potential to rally upwards to the nearest liquidity gathering place, namely in the Equal High area, namely at the level of 0.6201 but if the CCI level drops below the level 0 and/or level 0.6962 is exceeded, it is very likely for the scenario described earlier cancel by itself.

*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: Elliott wave analysis of EUR/USD for November 24, 2022

The minor correction from 1.0482 has reached its corrective target at 1.0222 and the pair is ready to resume the underlying impulsive rally higher through resistance at 1.0482 for a rally towards 1.0784 and 1.0927 as the next upside targets.

In the longer term, we are looking for much higher levels here as we see the major corrective decline from 1.6038 as completed at 0.9536. A new major impulsive rally that ultimately will take us back above 1.6038 is unfolding. This of course will not be in a straight line, but in the next years, the trend will be up.

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

Analysis are provided by InstaForex

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Forex Analysis & Reviews: Future interest rate reductions by the Bank of England are also possible.

Currently, the Bank of England is a "dark horse." It is difficult to predict how much longer the British regulator will raise its rate, even though it is doing so slower than the Fed and the ECB. It decided to increase the rate by 75 basis points at the most recent meeting, a record increase over the previous 12 to 13 years and the first increase during the current tightening monetary policy cycle. Although the Bank of England rate has already increased to 3%, inflation in the UK is still rising, and there are currently no signs that it will slow down. One could anticipate at least a slight slowdown in the consumer price index with such a rate value, but keep in mind that there is a "time lag" that could take up to 3–4 months for the economy to fully adjust to the most recent (and subsequent) PEPP tightenings.

Inflation in the UK may therefore start to slow down soon, but I believe it will only be able to disappear at a 3% rate, even below the 10% threshold. It increased to 11.1% in October, and Andrew Bailey recently predicted that the peak value might reach 13% or 15%. The fact that British inflation has yet to display any discernible slowdown that would be considered the start of a fall is a major disadvantage. Based on this, it can be assumed that the Bank of England's relatively high rate is already impacting the economy and inflation. However, no one can say with certainty how significant this impact is. There may be an impact, but it is probably insignificant in light of the factors that drive monthly price increases. A 3% rate may only stop prices from increasing even more quickly. Since I cannot respond, it is too early to discuss the Bank of England's final interest rate.

In light of the current situation, the regulator should increase the rate by 75 basis points at least twice more, bringing it to 4.5%. After that, he can follow the Fed's lead and raise the rate gradually while he waits for inflation to respond to three or four rounds of extremely strict PEPP tightening. However, given the current state of the British economy, analysts now have serious doubts about the Bank of England's ability to take such actions. According to Andrew Bailey, the recession "has already begun" and at the same time "has just begun" due to the most recent GDP report for the third quarter showing a contraction. It can last for up to two years (assuming no further economic shocks), and it is difficult to predict how much the British GDP will decline due to high rates.

According to Dave Ramsden, the deputy governor of the Bank of England, it is imperative to respond to the state of the British economy. If things continue to go poorly, it will be prudent to lower the rate to prevent making the already challenging financial situation for households even worse. The objective of bringing inflation back to 2% remains the same, but the Bank of England will need to monitor economic expansion.

The construction of a new downward trend segment is predicated on the wave pattern of the pound/dollar instrument. I cannot suggest purchasing the instrument immediately because the wave marking already permits the development of a downward trend section. Sales are more accurate now that the targets are close to the 200.0% Fibonacci level.

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Forex Analysis & Reviews: Forecast for EUR/USD on November 28, 2022

Last Friday, the euro touched the lower shadow of the support at 1.0360, this morning it did the same thing. The price needs to settle under this level so it can reach 1.0205, and it will form a double top on the daily chart. But the price is not in a hurry to do so. Therefore, if today closes with a white candle, then there is a high probability of a breakout of 1.0470 and a divergence may form with the Marlin oscillator.

The situation on the weekly chart contributes to the divergence option - here we see that the MACD indicator line still hasn't been reached. But whether it will be reached or not, remains an intrigue.

On the four-hour chart, the price crossed the MACD line on the descending Marlin oscillator. There was a similar transition on Friday, it was not reliable. Now, when the Marlin oscillator is involved, the price has a chance of settling under 1.0360. Watch the situation, for a signal for a short-term growth or a medium-term fall.

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Forex Analysis & Reviews: ETHUSD Potential For Bearish Continuation | 29th November 2022

Looking at the H4 chart, my overall bias for ETHUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market .If this bearish momentum continues, expect price to possibly head towards the 1st support at 1071.11, where the -previous swing low is located. In an alternate scenario, price could possibly head back up towards the 1st resistance level at 1291.84, where the 38.2% Fibonacci line is located. Trading Recommendation Entry: 1302.56 Reason for Entry: 1st resistance line Take Profit:1071.11 Reason for Take Profit: 1st support line Stop Loss: 1677.00 Reason for Stop Loss: Slightly above where the 2nd resistance line is located.

*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: USD/MXN Currency Pair Intraday Price Movement Technical Analysis Wednesday November 30, 2022.

With price movements moving below the Moving Average of the 100 period and the CCI indicator still moving in the range of 0 to -100 levels on the 4-hour chart, the condition of the USD/MXN currency pair is confirmed to be still moving in a bearish bias while currently an upward correction is occurring. stuck at the Resistance level 19,268-19,240 if this level area is strong to hold the upward correction rate and does not exceed the 19,390 level then USD/MXN will have the potential to fall again down to the 19,036 level.

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