Murrey Math Lines 25.05.2020 (EURUSD, GBPUSD)

Murrey Math Lines 25.05.2020 (EURUSD, GBPUSD)

25.05.2020

EURUSD, “Euro vs. US Dollar”

In the H4 chart, after breaking 5/8, EURUSD is expected to continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 6/8 to the upside. After that, the instrument may continue growing to reach 8/8.

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 3/8 from the H4 chart.

EURUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD is consolidating below 4/8. The main scenario implies that the pair may break this level to the downside and then continue falling towards the closest support at 3/8. However, this scenario may no longer be valid if the price breaks at 4/8 to the upside. After that, the instrument may continue growing to reach the resistance at 5/8.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.

GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Forex Technical Analysis & Forecast 25.05.2020

Forex Technical Analysis & Forecast 25.05.2020

25.05.2020

EURUSD, “Euro vs US Dollar”

EURUSD is still trading downwards to reach 1.0880. After reaching it, the pair may start consolidating. If later the price breaks this range to the upside, the market may correct towards 1.0915; if to the downside – resume trading inside the downtrend with the target at 1.0825.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After reaching the predicted downside target at 1.2170, GBPUSD is consolidating around this level. Possibly, the pair may fall towards 1.2155. However, if the price breaks 1.2190 to the upside, the market may form one more ascending structure to reach 1.2222 and then resume trading downwards with the target at 1.2070.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is correcting to the upside towards 72.15. Later, the market may resume trading inside the downtrend with the short-term target at 69.50.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending structure at 107.70, USDJPY is expected to start another decline to break 107.25. After that, the instrument may continue falling with the short-term target at 106.66.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is consolidating around 0.9717. According to the main scenario, the price is expected to continue growing towards 0.9737. Later, the market may start a new correction to reach 0.9669 and then form one more ascending structure with the target at 0.9750.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After reaching the correctional target at 0.6545, AUDUSD is expected to form a new descending structure towards 0.6478. Later, the market may start another correction to reach 0.6500 and then resume trading downwards with the target at 0.6444.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is still consolidating around 35.15. Possibly, today the pair may expand the range down to 33.33 and then resume trading upwards with the short-term target at 39.00.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After finishing the correctional wave at 1737.20, Gold is expected to form a new descending structure to break 1724.95. After that, the instrument may continue falling towards 1710.10 and then start another growth with the target at 1750.00.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

After rebounding from 9290.00 downwards and finishing another correctional structure at 8700.00, BTCUSD is expected to start a new growth to break 9300.00. Later, the market may continue trading upwards with the target at 9800.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

After failing to break 2900.0 downwards, the Index has rebounded to the upside; right now, it is growing to reach 2980.0. Possibly, today the pair may break this level and then continue trading upwards with the target at 3012.3.

S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Japanese Candlesticks Analysis 25.05.2020 (EURUSD, USDJPY, EURGBP)

Japanese Candlesticks Analysis 25.05.2020 (EURUSD, USDJPY, EURGBP)

25.05.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after growing towards the resistance level and forming a Shooting Star pattern, EURUSD has reversed. We may assume that after a slight correction the price may continue falling towards the channel’s downside border at 1.0850. At the same time, there is another scenario, which implies that the price may grow to reach 1.0995 without testing 1.0850.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after testing the rising channel’s downside border and forming a Hammer pattern, USDJPY has started to reverse. The current situation implies that after breaking the resistance level the asset may continue moving upwards. In this case, the upside target may be 108.40. However, there might be another scenario according to which the instrument may fall and return to 107.20.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, after testing the resistance level and forming a Shooting Star pattern, EURGBP is reversing and may later correct towards 0.8900. After that, the instrument may continue the ascending tendency. In this case, the upside target may be at 0.8990. Still, one shouldn’t exclude an opposite scenario, which implies that the instrument may break 0.8900 and continue falling towards 0.8825.

EURGBP
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Ichimoku Cloud Analysis 25.05.2020 (GBPUSD, USDCAD, USDJPY)

Ichimoku Cloud Analysis 25.05.2020 (GBPUSD, USDCAD, USDJPY)

25.05.2020

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.2174; 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 1.2185 and then resume moving downwards to reach 1.2085. 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 1.2255. In this case, the pair may continue growing towards 1.2345.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3990; 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 1.3975 and then resume moving upwards to reach 1.4125. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3930. In this case, the pair may continue falling towards 1.3845.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at 107.70; 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 107.45 and then resume moving upwards to reach 108.65. Another signal is favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 106.55. In this case, the pair may continue falling towards 105.65.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Fibonacci Retracements Analysis 25.05.2020 (GOLD, USDCHF)

Fibonacci Retracements Analysis 25.05.2020 (GOLD, USDCHF)

25.05.2020

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after breaking the consolidation range and updating the high, XAUUSD is falling. The next upside targets were inside the post-correctional extension area between 138.2% and 161.8% fibo at 1798.90 and 1858.60 respectively, but the pair decided to test the previously-broken area. At the same time, there is a divergence on MACD, which indicates a possible correction towards 23.6%, 38.2%, and 50.0% fibo at 1690.70, 1645.40, and 1607.83 respectively.

GOLD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair is falling towards 23.6% fibo at 1690.70. The resistance is the high 1764.86.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF continues the long-running correction between 38.2% and 61.8% fibo in the form of a Triangle inside a Flat. If the price breaks the resistance at 0.9743, the pair may continue growing to reach the high at 0.9901. Otherwise, the instrument may break the support at 0.9648 and then continue falling to reach 61.8% fibo at 0.9453.

USDCHF_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the asset is correcting to the upside. After reaching 61.8% fibo, the correction has stopped. However, after a short-term pullback the instrument may rise to reach 76.0% fibo at 0.9749 and the high at 0.9784. The support is the low at 0.9638.

USDCHF_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Murrey Math Lines 22.05.2020 (EURUSD, GBPUSD)

Murrey Math Lines 22.05.2020 (EURUSD, GBPUSD)

22.05.2020

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is no longer moving inside the “overbought area”. In this case, the pair is expected to fall to break 5/8 and then continue trading downwards to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may continue growing to reach +1/8.

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

EURUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD is consolidating. The main scenario implies that the pair may break 4/8 to the downside and then continue falling towards the closest support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 5/8. After that, the instrument may continue growing to reach 6/8.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards to reach 3/8 from the H4 chart.

GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Forex Technical Analysis & Forecast 22.05.2020

Forex Technical Analysis & Forecast 22.05.2020

22.05.2020

EURUSD, “Euro vs US Dollar”

EURUSD is trading downwards to reach 1.0922. Later, the market may correct towards 1.0969 and then resume trading inside the downtrend with the target at 1.0840.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD continues falling towards 1.2170. After that, the instrument may correct to reach 1.2222 and then continue trading downwards with the first target at 1.2100.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has extended the descending wave down to 70.70; right now, it is consolidating below this level. Today, the pair may correct towards 72.60 to test it from below and then resume trading inside the downtrend with the target at 69.44.

USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is moving downwards to break 107.30. After that, the instrument may continue falling with the short-term target at 106.66.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After breaking 0.9700 to the upside, USDCHF is expected to continue growing towards 0.9737. Later, the market may start a new correction to reach 0.9696 and then form one more ascending structure with the first target at 0.9750.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After reaching the downside target at 0.6533, AUDUSD is expected to consolidate above this level. If later the price breaks this range to the upside, the market may start a new correction to reach 0.6575; if to the downside – form a new descending structure with the target at 0.6478.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is correcting towards 33.33. After that, the instrument may resume trading upwards with the short-term target at 39.00 and then start another correction towards 32.50.

BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

After finishing the descending wave at 1721.80, Gold is expected to form one more ascending wave to reach 1737.20 (at least). After that, the instrument may start a new decline towards 1710.10 and complete a Flag correctional pattern.

GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BTCUSD, “Bitcoin vs US Dollar”

After completing the correction at 8888.80, BTCUSD is expected to consolidate near the lows. If later the price breaks this range to the upside, the market may start a new growth to break 9500.00 and then continue trading upwards with the target at 10150.00; if to the downside – form a new descending structure to reach 8300.00.

BITCOIN
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The Index is consolidating not far from the downside border. Possibly, the pair may break 2920.0 downwards and start a new correction to reach 2888.5. Later, the market may form one more ascending structure with the target at 3012.5.

S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Japanese Candlesticks Analysis 22.05.2020 (USDCAD, AUDUSD, USDCHF)

Japanese Candlesticks Analysis 22.05.2020 (USDCAD, AUDUSD, USDCHF)

22.05.2020

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the ascending tendency continues. By now, USDCAD has formed a Hammer pattern not far from the support level. At the moment, the price is reversing. Most likely, the pair may correct for a while and then resume growing towards 1.4090. Later, after breaking this level, the market may continue the ascending impulse.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after testing the resistance level and forming a Shooting Star pattern, AUDUSD is reversing. The downside target may be the support level at 0.6425. In case of further growth, the upside target may be at 0.6614.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF has formed several reversal patterns, such as Hammer, close to the support level. At the moment, the pair is reversing. Later, the market may correct for a while and then resume growing with the target at 0.9770. The downside may be the support level at 0.9637.

USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Ichimoku Cloud Analysis 22.05.2020 (BTCUSD, AUDUSD, USDCAD)

Ichimoku Cloud Analysis 22.05.2020 (BTCUSD, AUDUSD, USDCAD)

22.05.2020

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 9040.00; 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 9185.00 and then resume moving downwards to reach 8505.00. 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 9405.00. In this case, the pair may continue growing towards 9805.00.

BTCUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6583; 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 0.6555 and then resume moving downwards to reach 0.6425. Another signal in favor of further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6605. In this case, the pair may continue growing towards 0.6695.

AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.4003; 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 1.3965 and then resume moving upwards to reach 1.4115. 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 1.3885. In this case, the pair may continue falling towards 1.3795.

USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The Yen recovered. Overview for 22.05.2020

The Yen recovered. Overview for 22.05.2020

22.05.2020

On Friday morning, USDJPY recovered; it is back to moving sideways.

The Japanese Yen is rising against the USD on Friday morning. The current quote for the instrument is 107,42.

The statistics published in the morning showed that the Japanese CPI was only 0.1% y/y in April after being 0.4% y/y in the previous month. On MoM, the indicator was -0.2%.

At the same time, the Core CPI showed -0.2% y/y against the expected reading of -0.1% y/y. On MoM, the indicator was -0.5%.

Deflation is a nightmare for Japan. The Japanese Central Bank undertook atomical efforts to solve the issue of low inflation, which may hurt the country’s economy as much as explosive price surge. And now, under the influence of the Covid-19 pandemic, all these efforts were destroyed.

The BoJ’s emergency meeting that took place earlier this morning kept all parameters of the regulator’s monetary policy intact. Policymakers also launched a new lending program to support small businesses struggling with the coronavirus outbreak.

The Bank of Japan hardly ever has emergency meetings – today’s one was the first over the last 8 years.