Category Archives: Market Anakysis

Forex market analyized

Short-term Elliott wave analysis on EURUSD

EURUSD is in a corrective phase. Price was expected to move higher as wave B and turn lower towards the 61.8% Fibonacci retracement and wave C. Price did exactly that and now it is important for the bullish scenario to see price reverse to the upside.EURUSD has made a three wave correction this far towards the 61.8% Fibonacci retracement as expected. Now for this bullish wave scenario to be valid, we need to see price reverse to the upside. Another 5 wave upward move is expected to unfold from current levels. Support is at 1.1030 and this scenario will lose its strength if this level is broken downwards. On the contrary, this bullish scenario will increase its chances of success if price breaks above the B wave high. The price action of this week will tell us more of what to expect for EURUSD….1.13 or 1.09?The material has been provided by InstaForex Company – www.instaforex.com…

BTC 12.06.2019 – Contraction period, watch for the breakout of the trading range to confirm further direciton

Bitcoin is trading sideways at the price of $7.390. Price action on the hourly time-frame looks very flat and we got Bollinger bands contraction. Watch for potential breakout of the contraction. The resistance is set at $7.478 and the support at $7.253.To open long position:Watch for breakout of $7.478 and target at $7.722To open short position:Watch for breakout of the support $7.253 and target at $7.087 MACD oscillator is showing very low momentum , which confirms the sideways regime.The material has been provided by InstaForex Company – www.instaforex.com…

Gold 12.06.2019 – Gold is near multi-pivot supporrt at $1.57, more downside yet to come

Gold has been trading downside after the NFP news today. In my opinion, it confirmed another down cycle and eventual test of $1.452 and $1.446. My advice is to watch for selling opportunities on the rallies on lower frames (5-15 time-frames). MACD oscillator is showing increase on the downside momentum, which is good sign that sellers are in control and that selling on the rallies is preferable strategy for today.Resistance levels are seen at $1.471 and $1.480. Support levels are set at $1.452 and $1.446The material has been provided by InstaForex Company – www.instaforex.com…

EUR/USD for December 02,2019 – Rejection of the main resistance at 1.1109, potential for downside and test of 1.1029

EUR rejected of our main multi pivot resistance at 1.1109. As I mentioned, after the price reached Pitchfork median line, we would form several smaller swings before new direction. Full focus is now on the support at 1.1066. The potential downside breakout of support may lead for test of 1.1029. MACD oscillator is showing increase on the downside momentum, which is good sign that sellers are in control and that selling on the rallies is preferable strategy for today.The material has been provided by InstaForex Company – www.instaforex.com…

December 6, 2019 : GBP/USD Intraday technical analysis and trade recommendations.

On October 21, the GBP/USD pair was demonstrating an ascending wedge reversal pattern while approaching the depicted SUPPLY-zone (1.2980-1.3000). This pattern was confirmed on October 22. Since Then, the GBP/USD pair has failed to achieve a persistent bullish breakout above the depicted SUPPLY-zone (1.2980-1.3000) which corresponds to a previous Prominent-TOP that goes back to May 2019.This indicated a high probability of bearish reversal around the mentioned price zone. Hence, a quick bearish movement was initiated towards 1.2780 (Key-Level) where bullish recovery was demonstrated on two consecutive visits.That’s why, the GBP/USD pair has been trapped between the mentioned price levels (1.2780-1.3000) until Wednesday when bullish breakout above 1.3000 was achieved.Short-term technical outlook remains bullish as long as consolidations are maintained above 1.3000 on the H4 chart.On the other hand, the pair is currently testing the upper limit of the newly-established depicted short-term bullish channel. That’s why, high probability of bearish rejection exists around the current price levels.Conservative traders may have to wait for a bearish pullback towards 1.2980-1.3000 for a valid BUY signal. Estimated bullish target would be located around 1.3120 and 1.3150.On the other hand, please note that any bearish closure below 1.2980 invalidates the bullish scenario for the short-term allowing…

Evening review for EURUSD on 12/06/2019

Nonfarm +266 K.In the private sector +254 K.The unemployment rate fell to 3.5% from 3.6%.Very strong data and completely uncorrelated with the report from ADP two days earlier (a total of +67k).The euro made a noticeable decline.We keep purchases from 1.1035. You can put a stop at breakeven.Entry down from 1.0980.The material has been provided by InstaForex Company – www.instaforex.com…

December 6, 2019 : EUR/USD Intraday technical analysis and trade recommendations.

Since October 2, the EURUSD pair has been trending-up until October 21 when the pair hit the price level of 1.1175.The price zone of (1.1175 – 1.1190) stood as a significant SUPPLY-Zone that demonstrated bearish rejection for two consecutive times in a short-period.Hence, a long-term Double-Top pattern was demonstrated with neckline located around 1.1075-1.1090 offering valid bearish positions few weeks ago.Shortly After, two consecutive bearish movements were executed towards 1.1000-1.0995 where another two episodes of bullish rejection were demonstrated.That’s why, the price zone of 1.1065-1.1085 where a cluster of supply levels were located (61.8% Fibo – 50% Fibo levels) prevented further bullish advancement.Thus, the EUR/USD Pair has been trapped between the price levels of 1.1000 and 1.1085 (where a cluster of supply levels is located) until Wednesday when a bullish spike was demonstrated above 1.1085 (towards 1.1110).Initial bearish rejection was anticipated around 1.1110 to bring bearish decline towards 1.1065.Moreover, a Head & Shoulders reversal pattern is being demonstrated with neckline located around 1.1065.Hence, a valid SELL entry can be offered upon bearish breakout below 1.1065. Initial bearish target would be located around 1.1010.Please also note that any bullish breakout above 1.1100 will probably bring further bullish advancement towards 1.1140 and 1.1175.The…

The euro felt the freedom

The parliamentary elections in Britain, the meetings of the Fed and the European Central Bank, as well as the answer to the question of whether the US will impose new duties against China from December 15 – are the factors that drove the euro and the dollar throughout 2019. The main currency pair will have a very stormy week, after which emotions are likely to calm down and investors will begin to balance their positions, preparing for the Christmas holidays and the New Year. From December 9 to 15, their focus will be on monetary policy, trade wars, and Brexit.
The futures market gives almost 100% probability of maintaining the federal funds rate in December and expects monetary expansion only in September 2020. Bloomberg experts do believe that until 2021, the Fed will not make adjustments to monetary policy, no matter how much Donald Trump calls for a rate cut and QE resuscitation. At the same time, the story of how at the end of 2018 Jerome Powell woke the S&P 500 bears with his careless phrases about the remoteness of the federal funds rate from the neutral level is still fresh in the memory of investors. The probability that the Fed…

Technical analysis of USD/CAD for Decembre 06, 2019

Overview: The USD/CAD pair is trading at the spot of 1.3196 and 1.3252. Right now, the pair has already been corrected by 50.0% and may yet continue trading towards 61.8% or 38.2% Fibonacci retracement levels at 1.3252 or 1.3196. The USD/CAD pair was argumentative as it was trading in a narrow sideways channel, the market showed signs of instability. Resistance and support are seen at the levels of 1.3252 and 1.3196 respectively. The support is the low at 1.3196. Equally important, the USDCAD pair is still moving around the key level at 1.3225, which represents a daily pivot in the H1 time frame at the moment. All these signals taken together indicate further sideways trend movement. Immediate resistance is seen around 1.3252 levels, which coincides with the first resistance. In case of a successful breakout at 1.3252 , the next target will be at the level of 1.3291. This would suggest a bulish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to rise higher towards at least 1.3344 so as to test the daily support 3. On the other hand, if a breakout happens at the…

Is the dollar the engine of EUR/USD pair while euro is the trailer car?

The end of the current week did not bring the EUR/USD pair any particular disappointments or victories. As expected, the dollar has strengthened its position, and the euro is striving for the same leadership, but with varying success. Thus, analysts predict a moderate rise for the pair in the near future.
According to experts, sharp movements of the EUR / USD pair are not expected before the release of the report on the American labor market (NFP). It can be recalled that this report shows the real number of jobs created. According to preliminary estimates, 186 thousand jobs appeared last month in the US economy.
In this situation, the American currency feels at its best. Even possible negative NFPs will not be able to shake its confidence. The European currency is also positive, despite the instability of its position. On Thursday, December 5, the EUR / USD pair was in an upward trend, and today, there will be attempts to resume it. Also yesterday, the pair managed to step over the bar 1.1100 and move up quickly.
Subsequently, the EUR / USD pair reached the correctional level of 1.1104, which became a significant obstacle for traders. Yesterday, the…