Forex Technical Analysis & Forecast by RoboForex

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Ichimoku Cloud Analysis 10.07.2020 (USDCAD, EURGBP, GBPNZD)

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3623; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3585 and then resume moving upwards to reach 1.3685. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3505. In this case, the pair may continue falling towards 1.3415.



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Japanese Candlesticks Analysis 09.07.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the pair has started forming a new ascending channel. Right now, EURUSD is reversing after forming a Hammer pattern. Considering the current bullish dynamics, the price may finish the correction and then resume trading upwards to reach the resistance level at 1.1420. At the same time, an alternative scenario implies that the instrument may continue falling to return to 1.1330.



Read more - Japanese Candlesticks Analysis GOLD, NZDUSD

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Murrey Math Lines 08.07.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is consolidating between 3/8 and 5/8. In this case, the price is expected to break 3/8 and continue falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may continue trading upwards to reach the closest resistance at 5/8.



Read more - Murrey Math Lines USDJPY, USDCAD

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Forex Technical Analysis & Forecast 07.07.2020

EURUSD, “Euro vs US Dollar”

After breaking 1.1300, EURUSD is consolidating above it. If later the price breaks this range to the downside, the market may start a new correction towards 1.1250; if to the upside – resume trading inside the uptrend with the short-term target at 1.1380.



Read more - Forex Technical Analysis & Forecast 07.07.2020

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Fibonacci Retracements Analysis 06.07.2020 (GOLD, USDCHF)

GOLD

From the technical point of view, the H4 chart shows that XAUUSD is moving above the broken high at 1764.86. This situation means that the pair has fixed above the high at 1789.05 in order to continue the ascending tendency towards the post-correctional extension area between 138.2% and 161.8% fibo at 1800.60 and 1822.70 respectively. However, a divergence on MACD and low market volatility indicate a possible reversal or pullback. The key support is at 1670.60. The first correctional target may be 23.6% fibo at 1709.30, while the next ones are 38.2%, 50.0%, and 61.8% fibo at 1660.00, 1620.30, and 1580.30 respectively.



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Ichimoku Cloud Analysis 03.07.2020 (BTCUSD, BRENT, AUDUSD)

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 9089.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 9125.00 and then resume moving downwards to reach 8805.00. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 9295.00. In this case, the pair may continue growing towards 9575.00.



Read more - Ichimoku Cloud Analysis BTCUSD, BRENT, AUDUSD

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Forex Technical Analysis & Forecast 30.06.2020

EURUSD, “Euro vs US Dollar”

After completing the descending structure at 1.1218 along with the correction towards 1.1251, EURUSD is expected to fall and break 1.1210 and then continue trading downwards to reach 1.1180. Later, the market may return to 1.1218 to test it from below and then form a new descending structure with the target at 1.1150.



Read more - Forex Technical Analysis & Forecast EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD

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Fibonacci Retracements Analysis 29.06.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after breaking the high at 1764.86, XAUUSD is trying to fix above it. In the future, the price is expected to continue growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 1800.60 and 1822.70 respectively. The support is at 1670.60.



Read more - Fibonacci Retracements Analysis GOLD, USDCHF

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Ichimoku Cloud Analysis 19.06.2020 (GBPUSD, EURUSD, USDRUB)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.2446; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2470 and then resume moving downwards to reach 1.2295. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2615. In this case, the pair may continue growing towards 1.2705. To confirm further decline, the asset must break the descending channel’s downside border and fix below 1.2370.



Read more - Ichimoku Cloud Analysis GBPUSD, EURUSD, USDRUB

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Japanese Candlesticks Analysis 18.06.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after completing the pullback close to the support level, EURUSD has formed a Doji pattern. Right now, the pair may start reversing. The downside target remains at 1.1155. At the same time, there is another scenario, which implies that the price may continue trading upwards without testing the support level at 1.1155.



Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP

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Murrey Math Lines 17.06.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has rebounded from the resistance at 3/8. In this case, the price is expected to continue falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at 5/8.



Read more - Murrey Math Lines USDJPY, USDCAD

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Forex Technical Analysis & Forecast 16.06.2020

EURUSD, “Euro vs US Dollar”

After finishing the correctional wave at 1.1340, EURUSD is expected to fall towards 1.1307, thus forming a new consolidation range between these two levels. If later the price breaks the range to the downside, the market may form a new descending structure to break 1.1226 and then continue trading downwards with the target at 1.1103.



Read more - Forex Technical Analysis & Forecast EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD

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Fibonacci Retracements Analysis 15.06.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the divergence made XAUUSD fall and reach 23.6% fibo. The previous rising impulse intended to reach the high at 1764.86 but judging by the structure of an expanding triangle channel, the asset no longer has strengths for further growth. Hence, one can expect a new decline towards 38.2%, 50.0%, and 61.8% fibo at 1645.06, 1607.83, and 1570.90 respectively.



Read more - Fibonacci Retracements Analysis GOLD, USDCHF

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Murrey Math Lines 10.06.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is consolidating between 3/8 and 5/8. In this case, the price is expected to test 3/8, rebound from it, and then resume growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue trading downwards to reach 1/8.



Read more - Murrey Math Lines USDJPY, USDCAD

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Fibonacci Retracements Analysis 01.06.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the divergence made XAUUSD start a new decline to reach 23.6% fibo at 1690.70, which was later followed by another ascending impulse towards the high at 1764.86. If the pair breaks the high, it may continue growing to reach the post-correctional extension area between 138.2% and 161.8% fibo at 1798.90 and 1858.60 respectively. However, there is another scenario, according to which the instrument may rebound from the high start a new descending wave towards 38.2% and 50.0% fibo at 1645.40 and 1607.83 respectively.



Read more - Fibonacci Retracements Analysis GOLD, USDCHF