Category Archives: Market Anakysis

Forex market analyized

USDCAD bulls could reach 1.3180 if they recapture 1.31.

USDCAD has mostly moved sideways over the last few trading sessions between 1.3080 and 1.3030. Price has formed a bullish flag pattern and a break above 1.3090-1.31 could open the way for a move towards 1.3180.Green lines – bullish flag patternUSDCAD has stopped the advance at the 38% Fibonacci retracement of the decline. However now I believe it is gathering power for another leg higher towards the 61.8% Fibonacci level. The bullish flag pattern target also is the same Fibonacci level and with a break above 1.3090-1.31 I believe we will see 1.3180-1.32. Support is at 1.3030 and breaking below it will cancel my short-term bullish view. The RSI is not in overbought levels and turning upwards. This is going to be a very interesting week in USDCAD.The material has been provided by InstaForex Company – www.instaforex.com…

Weekly BTCUSD analysis

Bitcoin had a second strong weekly performance while price broke above the resistance area of $8,000. Price has exited the downward sloping wedge pattern and bulls now feel more in control. However there are still many obstacles ahead in order to reach 2019 highs.Red lines -wedge patternBitcoin has so far two strong weeks and the most important part is that price is reversing its trend and exiting the wedge pattern from the 61.8% Fibonacci retracement level. This increases the chances of a longer-term turn around. The $7,000 price level could very well be a long-term bottom. Bulls need to continue to see prices make higher highs and higher lows. At this point it would be important for bulls to respect $6,850 and not see a price below that level. Daily trend is bullish. Next target is $9,200 and next at $11,000. Only a break above the second target will increase the chances of breaking above 2019 highs.The material has been provided by InstaForex Company – www.instaforex.com…

Ichimoku cloud indicator Daily analysis of EURUSD

EURUSD is still in bullish daily trend according to the Ichimoku cloud indicator as price remains above the Daily Kumo (cloud). However on Thursday we had a weak sell signal as the tenkan-sen crossed the kijun-sen.Green lines- bullish channelEURUSD remains inside the bullish channel and above cloud support. However the week ended badly for EURUSD as price broke below 1.11 and we have a clear cross of the tenkan- and kijun-sen. Last hope for bulls is for the cloud and channel support at 1.1060 area to hold. Breaking below this area would be a bigger and more important sell signal. Price is approaching an area of great importance and an area with high probabilities for a trend reversal to the upside. Next week will be crucial for the first quarter performance of EURUSD.The material has been provided by InstaForex Company – www.instaforex.com…

January 17, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

On December 13, the GBPUSD pair looked overpriced around the price levels of 1.3500 while exceeding the upper limit of the newly-established bullish channel.On the period between December 18 – 23, bearish breakout below the depicted channel followed by initial bearish closure below 1.3000 were demonstrated on the H4 chart.However, earlier signs of bullish recovery were manifested around 1.2900 denoting high probability of bullish pullback to be expected.Thus, Intraday technical outlook turned into bullish after the GBP/USD has failed to maintain bearish persistence below the newly-established downtrend line.That’s why, bullish breakout above 1.3000 was anticipated. Thus, allowing the recent Intraday bullish pullback to pursue towards 1.3250 (the backside of the broken channel) where bearish rejection and another bearish swing were suggested for conservative traders in previous articles.Intraday bearish target are projected towards 1.3000 and 1.2980 provided that the current bearish breakout below 1.3170 is maintained on the H4 chart.Please also note that two descending highs were recently demonstrated around 1.3120 and 1.3090 which enhances the bearish side of the market.Conservative traders should wait for bearish breakdown below 1.2980, This is needed first to enhance further bearish decline towards 1.2900, 1.2800 and 1.2780 where the backside of the previously-broken downtrend is located.In…

January 17, 2020 : EUR/USD Intraday technical analysis and trade recommendations.

Since November 14, the price levels around 1.1000 has stood as a significant DEMAND-Level offering adequate bullish SUPPORT for the pair on two successive occasions.During this Period, the EUR/USD pair has been trapped within a narrow consolidation range between the price levels of 1.1000 and 1.1085-1.1100 (where a cluster of supply levels and a Triple-Top pattern were located) until December 11.On December 11, another bullish swing was initiated around 1.1040 allowing recent bullish breakout above 1.1110 to pursue towards 1.1175 within the depicted short-term bullish channel.Initial Intraday bearish rejection was expected around the price levels of (1.1175).Moreover, On December 20, bearish breakout of the depicted short-term channel was executed. Thus, further bearish decline was demonstrated towards 1.1065 where significant bullish recovery has originated.The recent bullish pullback towards 1.1235 (Previous Key-zone) was suggested to be watched for bearish rejection and another valid SELL entry.Suggested bearish position has achieved its targets while approaching the price levels around 1.1110.As expected, the Key-Level around 1.1110 has provided some bullish rejection. That’s why, the previous bullish pullback was expected to pursue towards 1.1140 and 1.1175 where the depicted key-zone as well as the recently-broken uptrend are located.Recent signs of bearish rejection were demonstrated around 1.1175. That’s…

BTC analysis for 01.17.2020 – Bearish divergence on the 4H time-frarrme, selling opporutnities are preferable

Industry news:It seems that crypto-custody has been kept a secret from institutional investors.Few things have improved in 2019 as much as the custody of cryptocurrency, and the regulators’ attitude towards it. While a Bitcoin Exchange Traded Fund still waits on the doorsteps of the SEC, institutional companies entering the cryptocurrency custody market has grown.Coinbase snapped up custody provider Xapo, Fidelity entered the crypto-storage space, and the Intercontinental Exchange’s digital assets platform Bakkt launched offering both trading and custody. Yet, investors have been kept in the dark.According to a survey by Bitcoin ETF hopeful Bitwise Asset Management, institutional investors have a crypto-custody problem. The problem, however, is a lack of information, not a lack of solutions.Technical analysis:BTC has been trading upside but it found solid supply near the $9.000 level. I found the bearish divergence on the MACD oscillator, which is sign that buyers got exhausted.Watch for selling opportunities on the rallies with the downward targets at the price of $8.590 and $8.445.Major resistance is set at the price of $9.000.Support levels and downward target are set at the price of $8.592 and $8.445.The material has been provided by InstaForex Company – www.instaforex.com…

Gold 01.17.2020 – Decision pivot level on the Gold at the price of $1.562

Gold has been trading sideways at the price of $1.557. The price is near the critical decision level at $1.562 and you should watch carefully the price action around it.The breakout of the $1.562 to the upside will confirm test of $1.557 and in that case you should watch on buying opportunities on the dips.The rejection of the resistance at $1.562 would confirm rotation back towards the level of $1.535.MACD oscillator is showing positive reading but the slow line is tuned to the downside.Major resistance is set at the price of $1.562.Support levels and downward target is set at the price of $1.535.The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD 01.17.2020 – Broken bearish flag on the daily time-frrame, watch for selling on rallies with main target at 1.2960

GBP has been trading downwards. The price tested and rejected of the level of 1.3120. I see further downside on the GBP and potential re-test of 1.2960 and 1.2910. The rejection of the Bollinger middle line is the early trigger for the downside. I also found potential for bearish outside candle. My advice is to watch for selling opportunities on the rallies using the hourly/4H time-frame.MACD oscillator is showing bearish stance and reading below the zeroMajor resistance is set at the price of 1.3120.Support levels and downward targets are set at the price of 1.2960 and 1.2910.The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD. January 17. Overbought euro still caused a fall

EUR/USD – 4H.

As seen on the 4-hour chart, the EUR/USD pair performed a reversal in favor of the US currency and resumed the process of falling in the direction of the low level of 1.1086. A new downward trend corridor has been formed, which now points to the “bearish” mood of most traders. The reversal of quotes in favor of the US dollar occurred with some delay, I was waiting for it 1-2 days earlier. However, in this case, it turned out not so bad, and now I expect a fall to the lower line of the corridor – 1.1040 (approximate goal). A bearish divergence was also formed for the MACD indicator, which also worked in favor of the US currency. The report on inflation in the European Union was not weaker than forecasts, but not stronger than them. Inflation was 1.3% y/y in December, which remains far from the ECB’s target level, which is now 2.0% but can be lowered in the future. Now the main thing is that the information background from America does not scare off bear traders from the plan. In the US, the consumer confidence index and the level of industrial production will be released today.
Forecast…

GBP/USD. January 17. We are waiting for a new sales signal. The Briton embarrassed in front of another weak statistics from

GBP/USD – 4H.

As seen on the 4-hour chart, the GBP/USD pair performed a consolidation above the corrective level of 23.6% (1.3048). Along with this consolidation, quotes of the pair closed above two trends and corridors. I have built a small correction line based on the movement of the last days, and if the pair closes below it, then traders will again be able to count on a reversal in favor of the US currency and a resumption of the fall in the direction of the corrective level of 0.0% (1.2904). As we can see, the goal remains the same, however, too long growth of the pound before the expected fall suggests a possible different scenario. In any case, I recommend trying to sell the pair when it is fixed below the Fibo level of 23.6% and the correction line. The “foundation”, in the case of the pound-dollar pair, remains in favor of the dollar. Retail sales in the UK declined by 0.6% m/m in December, with forecasts of +0.7%. These numbers were supposed to cause the British dollar to fall, however, the pair continues to trade with a small amplitude, showing no particular desire to move at the end of the…