Forex Technical Analysis & Forecast by RoboForex

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Ichimoku Cloud Analysis 16.11.2020 (EURJPY, NZDUSD, BTCUSD)

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 123.85; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 123.45 and then resume moving upwards to reach 125.65. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 122.95. In this case, the pair may continue falling towards 121.95. To confirm further growth, the asset must break the upside border of a Flag pattern and fix above 124.55.



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Japanese Candlesticks Analysis 17.11.2020 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after plunging within the ascending tendency, the asset is trying to regain its positions. After forming several reversal patterns, such as Harami, close to the support area, XAUUSD is expected to reverse and start another rising impulse. In this case, the upside target will be the resistance area at 1930.00. At the same time, an opposite scenario implies that the price may start another decline to reach the support area at 1840.00 before resuming its ascending tendency.



Read more - Japanese Candlesticks Analysis GOLD, NZDUSD, GBPUSD

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Forex Technical Analysis & Forecast 18.11.2020

EURUSD, “Euro vs US Dollar”

After completing the ascending wave at 1.1890, EURUSD is expected to correct towards 1.1815. Later, the market may grow to break 1.1890 and then continue moving within the uptrend with the target at 1.1970.



Read more - Forex Technical Analysis & Forecast 18.11.2020

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Murrey Math Lines 19.11.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to continue falling to reach 1/8. Another signal in favor of further decline is a rebound from 3/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 4/8.



Read more - Murrey Math Lines USDCHF, GOLD

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Fibonacci Retracements Analysis 20.11.2020 (BITCOIN, ETHEREUM)

BTCUSD, “Bitcoin vs US Dollar”

The daily chart shows a quick and steady growth towards the al-time high. After breaking the fractal at 13857.20, BTCUSD is heading towards the post-correctional extension area between 138.2% and 161.8% fibo at 17660.00 and 20000.00 respectively. If the asset decides to start a new pullback, its target will be at 13857.20, which now acts as the support.



Read more - Fibonacci Retracements Analysis BITCOIN, ETHEREUM

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Ichimoku Cloud Analysis 23.11.2020 (AUDUSD, EURJPY, XRPUSD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7314; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside at 0.7300 and then resume moving upwards to reach 0.7460. Another signal in favor of further uptrend will be a rebound from the downside border of an Ascending Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7155. In this case, the pair may continue falling towards 0.7065. To confirm further growth, the asset must break the pattern’s upside border and fix above 0.7375.



Read more - Ichimoku Cloud Analysis AUDUSD, EURJPY, XRPUSD

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Japanese Candlesticks Analysis 24.11.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the ascending tendency continues. Right now, after finishing the correction and forming several reversal patterns, such as Doji, close to the support area, EURUSD is reversing. The upside target remains at 1.1970. After that, the instrument may continue moving upwards. However, an alternative scenario implies that the price may start a new pullback to return to 1.1810 before resuming the uptrend.



Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP

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Forex Technical Analysis & Forecast 25.11.2020

EURUSD, “Euro vs US Dollar”

After completing the ascending wave at 1.1880 along with the correction towards 1.1850, EURUSD is growing to reach 1.1900. Possibly, the pair may break this level and then continue trading upwards with the target at 1.1964. After that, the instrument may start a new correction to test 1.1900 from above and then form one more ascending structure to reach 1.2000.



Read more - Forex Technical Analysis & Forecast 25.11.2020

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Murrey Math Lines 26.11.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

In the H4 chart, USDCHF is moving below the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may reverse and correct towards the resistance at 3/8.



Read more - Murrey Math Lines USDCHF, GOLD

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Fibonacci Retracements Analysis 27.11.2020 (BITCOIN, ETHEREUM)

BTCUSD, “Bitcoin vs US Dollar”

In the H4 chart, there was a divergence on MACD, which made BTCUSD plummet after entering the post-correctional extension area between 138.2% and 161.8% fibo at 17660.00 and 20000.00 respectively. such a movement may be considered as a new correction, which may be followed by further growth to update the high. By now, the correctional downtrend has reached 23.6% fibo and may yet continue towards 38.2% and 50.0% fibo at 15923.00 and 14820.00 respectively. The resistance is the high at 19509.10.



Read more - Fibonacci Retracements Analysis BITCOIN, ETHEREUM

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Ichimoku Cloud Analysis 30.11.2020 (GBPUSD, BTCUSD, GBPJPY)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3342 above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud near 1.3295 is expected, followed by growth to 1.3625. An additional signal confirming the growth will be a bounce off the lower border of the Triangle pattern. The growth will be canceled in the case of a breakaway of the lower border of the Cloud and securing under 1.3195, which will mean further decline to 1.3105. The growth will be confirmed by a breakaway of the resistance area and securing above 1.3415, which will mean a breakaway of the upper border of the Triangle.



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Fibonacci Retracements Analysis 01.12.2020 (EURUSD, USDJPY)

EURUSD, “Euro vs US Dollar”

On H4, the quotations have corrected in the form of a Triangle and are approaching a long-term high of 1.2011. Upon reaching this one, the quotations might reach the long-term level of 76.0% (1.2094) and even rise to the post-correctional extension range of 138.2-161.8% (1.2167-1.2262) Fibo. While the wave of growth is developing, there is a divergence forming on the MACD, which might precede a bounce off the high. In such a case, we might expect either a short-term correction or a full-scale wave of decline to the fractal support level of 1.1603.



Read more - Fibonacci Retracements Analysis EURUSD, USDJPY

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Forex Technical Analysis & Forecast 02.12.2020

EURUSD, “Euro vs US Dollar”

The pair has reached the estimated goal of the wave of growth to 1.2030. For now, the market is pushed upwards. Today, the level of 1.2085 might be reached, followed by a decline to 1.2030. If this level is broken through downwards, the price might go deeper to 1.1980. The goal is first.



Read more - Forex Technical Analysis & Forecast 02.12.2020

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Murrey Math Lines 03.12.2020 (USDCHF, GOLD)

USDCHF, “US Dollar vs Swiss Franc”

On H4, USDCHF quotations are trading under the 200-days Moving Average, which means a downtrend is prevailing. Nonetheless, the price is already approaching the oversold area. Hence, we expect a test of 0/8, a bounce off it, and growth to the resistance level at 2/8. This growth should be interpreted as a correction. The scenario will no longer be valid if the price breaks through 0/8 top-down, which miht lead the quotations to the support level of -2/8.



Read more - Murrey Math Lines USDCHF, GOLD

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Japanese Candlesticks Analysis 04.12.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

On H4, USDCAD keeps forming a downtrend. The pair has formed several reversal patterns near the support level, including a Harami. The signals from the patterns might drive the price into a correction to 1.2920. However, the downtrend still might continue neglecting the signals, aiming at 1.2790.



Read more - Japanese Candlesticks Analysis USDCAD, AUDUSD, USDCHF