Forex Technical Analysis & Forecast by RoboForex

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Ichimoku Cloud Analysis 27.03.2020 (USDJPY, GBPUSD, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 108.40; the instrument is moving below Ichimoku Cloud, thus indicating a bearish tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 109.05 and then resume moving downwards to reach 106.75. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 110.85. In this case, the pair may continue growing towards 111.75.



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Japanese Candlesticks Analysis 26.03.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the pair continues the correction within the descending tendency; by now, EURUSD has formed several reversal candlestick patterns, such as Hammer, not far from the support level. At the moment, EURUSD is reversing. We may assume that later the price may correct to reach 1.1050. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.0550 without testing 1.1050.



Read more - Japanese Candlesticks Analysis EURUSD, USDJPY, EURGBP

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Murrey Math Lines 25.03.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading above 5/8. In this case, the price is expected to continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 5/8.



Read more - Murrey Math Lines USDJPY, USDCAD

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Forex Technical Analysis & Forecast 24.03.2020

EURUSD, “Euro vs US Dollar”

After forming the first ascending impulse towards 1.0825 and completing the correction at 1.0720, EURUSD has returned to 1.0825; right now, it is forming a new consolidation range around the latter level. Possibly, the pair may start the second ascending impulse to reach 1.0935. Today, the price may break 1.0825 to the upside and expand the range up to 1.0865 and then return to 1.0825 once again to test it from above. Later, the market may resume trading upwards with the short-term target at 1.0935.



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

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Fibonacci Retracements Analysis 23.03.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the daily chart, the divergence made the pair form a new wave to the downside; the wave broke 38.2% fibo but later stopped not fare from 50.0% fibo at 1431.95. After finishing the correction, XAUUSD may resume trading downwards to reach 50.0% and 61.8% fibo at 1431.95 and 1367.80 respectively. The resistance is the high at 1703.17.



Read more - Fibonacci Retracements Analysis GOLD, USDCHF

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Ichimoku Cloud Analysis 20.03.2020 (USDCHF, USDRUB, USDJPY)

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9800; 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 0.9745 and then resume moving upwards to reach 1.0045. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.9585. In this case, the pair may continue falling towards 0.9495.



Read more - Ichimoku Cloud Analysis USDCHF, USDRUB, USDJPY

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Japanese Candlesticks Analysis 19.03.2020 (GOLD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, Gold is testing the support level. By now, it has formed several reversal patterns, such as Hammer. Possibly, the pair may reverse and start a new correction to reach 1535.00. However, one shouldn’t ignore another scenario, according to which the instrument may continue falling without any significant pullbacks. In this case, the downside target may be at 1450.00.



Read more - Japanese Candlesticks Analysis GOLD, NZDUSD, GBPUSD

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Murrey Math Lines 18.03.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is consolidating. It has already rebounded from 5/8 and right now is expected to continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance 6/8.



Read more - Murrey Math Lines USDJPY, USDCAD

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Forex Technical Analysis & Forecast 17.03.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

EURUSD, “Euro vs US Dollar”

After forming the ascending structure towards the upside border of the consolidation range at 1.1230, EURUSD has finished another descending impulse along with the correction. Today, the pair may fall towards 1.1050 and then start a new correction with the target at 1.1140.



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

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Fibonacci Retracements Analysis 16.03.2020 (GOLD, USDCHF)

XAUUSD, “Gold vs US Dollar”

As we can see in the daily chart, the divergence made the pair reverse to the downside after reaching 76.0% fibo at 1708.10. Right now, XAUUSD is getting closer to 38.2% fibo at 1496.50, which is a long-term support level not far from 50.0% fibo at 1482.50. After reaching and breaking this area, the price may continue falling towards 50.0% and 61.8% fibo at 1431.95 and 1367.80 respectively. The resistance is the high at 1703.17.



Read more - Fibonacci Retracements Analysis GOLD, USDCHF

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Ichimoku Cloud Analysis 13.03.2020 (AUDUSD, USDCHF, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6305; 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 0.6315 and then resume moving downwards to reach 0.6045. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6485. In this case, the pair may continue growing towards 0.6565.



Read more - Ichimoku Cloud Analysis AUDUSD, USDCHF, USDCAD

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Japanese Candlesticks Analysis 12.03.2020 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after finishing a Hanging Man pattern near the resistance level, USDCAD continues growing and updating its highs. Right now, the pair may start reversing; the downside target is at 1.3590. The current situation implies that after completing a pullback the price may resume growing towards 1.3830. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may continue growing without forming a correction towards 1.3590.



Read more - Japanese Candlesticks Analysis USDCAD, AUDUSD, USDCHF

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Murrey Math Lines 11.03.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is moving close to 3/8. In this case, the pair is expected to break this level and then continue falling towards the support at 2/8. 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 5/8.



Read more - Murrey Math Lines USDJPY, USDCAD

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Forex Technical Analysis & Forecast 10.03.2020

EURUSD, “Euro vs US Dollar”

EURUSD has completed the ascending structure at 1.1494; right now, it is falling. Possibly, the pair may break 1.1353 and then continue trading downwards with the short-term target at 1.1230. After that, the instrument may form one more ascending structure to reach 1.11366 and then start a new decline towards 1.1215.



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

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Ichimoku Cloud Analysis 06.03.2020 (GBPUSD, XAUUSD, USDCAD)

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.2950; 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 border at 1.2880 and then resume moving upwards to reach 1.3105. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.2765. In this case, the pair may continue falling towards 1.2685. After breaking the descending channel’s upside border and fixing above 1.3010, the price may resume moving upwards.



Read more - Ichimoku Cloud Analysis GBPUSD, XAUUSD, USDCAD