Japanese Candlesticks Analysis 01.04.2020 (GOLD, NZDUSD, GBPUSD)

Japanese Candlesticks Analysis 01.04.2020 (GOLD, NZDUSD, GBPUSD)

01.04.2020

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after forming several reversal patterns, such as Hanging Man, not far from the resistance level, Gold has reversed; right now, it is testing the support level. The current situation implies that the pair may rebound from this level and then resume the rising tendency. in this case, the upside target may be at 1700.00. At the same time, there is another scenario, according to which the instrument may fall to test 1550.00.

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

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, the asset continues growing. After finishing the correction from the resistance level and forming an Engulfing reversal pattern, NZDUSD is reversing. The upside target may be at 0.6255. Still, one shouldn’t exclude another scenario, which says that the instrument may continue the correction towards 0.5858.

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

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the rising tendency continues. By now, GBPUSD has formed several reversal patterns, such as Shooting Star, close to the resistance level. At the moment, the pair is reversing and may later form a slight correction, which may be followed by further growth towards 1.2550. However, there is another scenario, which implies that the instrument may rebound from the resistance level and fall towards 1.2140.

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

Fibonacci Retracements Analysis 01.04.2020 (GBPUSD, EURJPY)

Fibonacci Retracements Analysis 01.04.2020 (GBPUSD, EURJPY)

01.04.2020

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the daily chart, GBPUSD is correcting the previous descending wave and trying to fix above the low at 1.1958; by now, the pair has stopped its growth not far from the resistance at 61.8% fibo (1.2550). If the price rebounds from this level, the instrument may resume falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.1365 and 1.0996 respectively. However, if the price breaks 61.8% fibo at 1.2550, it may grow to attach the high at 1.3510.

GBPUSD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the local convergence made the pair start a new correction. The support is at 38.2% fibo (12092). After completing the pullback, the pair may resume growing to reach 61.8% and 76.0% fibo at 1.2510 and 1.2764 respectively.

GBPUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, EURJPY has failed to break the highs despite an attempt to fix above the resistance at 38.2% fibo (120.19). Right now, the price is returning to towards 76.0% fibo at 117.55. If later the pair breaks this level, the instrument may continue falling to reach the low at 115.86.

EURJPY_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 trading downwards to reach 61.8% and 76.0% fibo at 118.03 and 117.32 respectively. At the same time, there is a convergence on MACD, which may indicate a possible pullback or reversal. The resistance is the local high at 121.14.

EURJPY_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Ichimoku Cloud Analysis 01.04.2020 (BTCUSD, XAUUSD, USDJPY)

Ichimoku Cloud Analysis 01.04.2020 (BTCUSD, XAUUSD, USDJPY)

01.04.2020

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 6372.00; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency that has almost left the cloud. The markets could indicate that the price may test the cloud’s upside border at 6445.00 and then resume moving downwards to reach 4765.00. Another signal to confirm further descending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 6955.00. In this case, the pair may continue growing towards 7805.00. After breaking the support area and fixing below 5605.00, the price may resume moving downwards and finish a Head & Shoulders pattern.

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

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1588.00; 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 1585.00 and then resume moving upwards to reach 1710.00. 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 1525.00. In this case, the pair may continue falling towards 1495.00. After breaking the descending channel’s upside border and fixing above 1620.00, the price may resume moving upwards.

GOLD
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 107.32; 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 107.65 and then resume moving downwards to reach 106.65. 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 108.55. In this case, the pair may continue growing towards 109.75.

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

The Aussie is falling again. Overview for 01.04.2020

The Aussie is falling again. Overview for 01.04.2020

01.04.2020

AUDUSD is down again amid investors’ poor attitude to risks.

On Wednesday afternoon, the Australian Dollar is falling against the USD. The current quote for the instrument is 0.6075.

On one hand, it’s obvious that market players’ interest in global risks is decreasing again, thus putting pressure on traded currencies. On the other hand, The RBA’s expectations relating to the economic outlook are very gloomy and that’s also not too good for the Aussie.

The statistics published in the morning showed that the AIG Manufacturing Index in Australia went from 44.3 points in February to 53.7 points in March. It’s pretty good and may be connected to the fact that the Chinese manufacturing sector is back to almost its full capacity.

The Building Approvals added 19.9% m/m in February after losing 15.3% m/m the month before and against the expected reading of +3.1% m/m. The number is quite surprising because the economic activity in the country is rather low and the future outlook is also not too optimistic. However, the growth may have been caused by low interest rates – this may really straighten things out.

Apart from this, the Reserve Bank of Australia released its previous Monetary Policy Meeting Minutes, which said that the country’s economy might significantly shrink not only in the first six months of 2020 but in the third or even fourth quarters as well. They believe that after the coronavirus pandemic starts dying down, the Australian economy will recover. However, timescales are quite vague

Forex Technical Analysis & Forecast 01.04.2020

Forex Technical Analysis & Forecast 01.04.2020

01.04.2020

EURUSD, “Euro vs US Dollar”

EURUSD has almost completed the correction by finishing the descending wave towards 1.0926; right now, it is forming the second ascending impulse. After breaking 1.1060, the instrument may grow to reach 1.1100. Later, the market may break this level as well and then continue trading upwards with the short-term target at 1.1140.

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 consolidating around 1.2343. Possibly, today the pair may fall towards 1.2200 and then grow to return to 1.2343. If later the price breaks this range to the downside, the market may form a new descending structure towards 1.2055; if to the upside – resume trading upwards with the target at 1.2555.

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

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the correction by finishing the ascending structure at 0.9684; right now, it is forming another descending structure to break 0.9580. After that, the instrument may continue trading downwards with the target at 0.9467.

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

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has rebounded from 108.78 to the downside. Today, the pair may fall to reach 106.94 and then resume trading upwards with the target at 109.45.

USDJPY
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 forming a wide consolidation range around 0.6140. Possibly, today the pair may trade downwards to break 0.6066 and then continue falling with the target at 0.5919.

AUDUSD
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 falling; it is still consolidating around 78.45. Possibly, the pair may form one more ascending structure towards 79.75. However, the main scenario implies that the price is expected to fall to break 76.90 and then continue trading downwards with the target at 74.33.

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

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD has completed the correction at 1.4333; right now, it is trading downwards to reach 1.3822. Later, the market may start another correction with the target at 1.4233.

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

XAUUSD, “Gold vs US Dollar”

Gold has finished the descending wave at 1560.50. Today, the pair may correct to reach 1597.50. After that, the instrument may continue trading downwards with the short-term target at 1557.50.

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

BRENT

After forming another consolidation range around 23.60, Brent has broken it to the downside. Possibly, today the pair may fall towards 22.00 and then form one more ascending structure to return to 23.60. After that, the instrument may break the latter level and continue trading upwards with the target at 25.40.

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

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 6100.00. Possibly, the pair may form one more ascending structure towards 6900.00. If later the price breaks this range to the downside, the market may resume trading downwards to reach 5600.00 or even 5300.00; if to the upside – start a new growth with the target at 7600.00.

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

The Euro is still on sale. Overview for 01.04.2020

The Euro is still on sale. Overview for 01.04.2020

01.04.2020

On Wednesday afternoon, bears are still in charge of the major currency pair.

EURUSD is falling on Wednesday. The current quote for the instrument is 1.0940.

Market players are waiting for the statistics, both from the USA and the Euro Area and not expecting to see anything positive in numbers. This is probably the reason why they switch to relatively safe assets, such as the USD/

The statistics published in the morning showed that the Retail Sales in Germany added 1.2% m/m, which is much better than expected, +0.2% m/m. One may assume that it happened due to increased consumption before quarantine restrictions.

The final report on the Manufacturing PMI in the Euro Area in March didn’t show anything special as it went from 44.8 points to 44.5 points. The same indicator for Germany showed 45.4 points after being 45.7 points the month before. There is a slight decline but it’s not critical.

It’s funny that the Unemployment Rate in the Euro Area dropped to 7.3% after being 7.4% in January. Most likely, in the future, the indicator will grow due to the falling economy in the region.

Later in the evening, the USA is scheduled to publish several interesting reports. First of all, it’s the ADP Non-Farm Employment Change in March, which is expected to show 125K after being 183K in February. It will be also interesting to check the ISM Manufacturing PMI, which may decrease down to 46.0 points in March after being 50.1 points in the previous month. However, it wouldn’t be surprising given the circumstances.

Murrey Math Lines 01.04.2020 (USDJPY, USDCAD)

Murrey Math Lines 01.04.2020 (USDJPY, USDCAD)

01.04.2020

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading at 5/8. In this case, the price 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 at 6/8.

USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 3/8 from the H4 chart.

USDJPY_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, the pair is moving not far from 3/8. In this case, USDCAD may continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may trade upwards to reach the resistance at 3/8.

USDCAD_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.

USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Japanese Candlesticks Analysis 31.03.2020 (EURUSD, USDJPY, EURGBP)

Japanese Candlesticks Analysis 31.03.2020 (EURUSD, USDJPY, EURGBP)

31.03.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after returning to the rising channel’s downside border, EURUSD has formed a Harami reversal pattern there. At the moment, the pair is reversing. We may assume that later the price may correct to reach 1.0930 and then resume the ascending tendency. In this case, the upside target may be at 1.1320.

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, USDJPY is still recovering after the fall. Right now, the pair is testing the support level, where it has formed several reversal patterns, such as Harami and Hammer. Possibly, the price may reverse and reach 110.80. The current situation implies that the instrument may yet resume falling towards 105.72 but this scenario is rather unlikely.

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 reaching the support level, EURGBP has formed a Hammer reversal pattern there. At the moment, the pair started reversing. We may assume that later the market may rebound towards 0.9300 and continue the descending tendency. However, one shouldn’t exclude an opposite scenario, which implies that the instrument may continue falling towards 0.9030 without any pullbacks. In this case, the target may be at 0.8745.

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

Forex Technical Analysis & Forecast 31.03.2020

Forex Technical Analysis & Forecast 31.03.2020

31.03.2020

EURUSD, “Euro vs US Dollar”

After forming a correctional continuation pattern at 1.1053 and breaking it downwards, EURUSD is trading to reach the short-term target at 1.0980. Later, the market may form one more ascending structure to return to 1.1053 and then resume falling towards 1.0970.

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 completing two descending impulses along with the correction at 1.2343, GBPUSD is expected to start the third impulse to reach 1.2185. After that, the instrument may form one more ascending structure with the target at 1.2345.

GBPUSD
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 the descending channel, USDCHF is still trading upwards. Possibly, the pair may reach 0.9685 and then resume trading downwards with the target at 0.9595.

USDCHF
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 upwards. Possibly, today the pair may correct to reach 109.45 and then resume trading inside the downtrend with the target at 108.35.

USDJPY
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 forming a wide consolidation range above 0.6070. After breaking this level to the downside, the instrument may continue trading downwards to reach 0.5920 and then start another growth to return to 0.6070.

AUDUSD
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 consolidating around 79.75. If later the price breaks this range to the upside, the market may form one more ascending structure towards 82.25; if to the downside – resume trading downwards with the target at 75.95.

USDRUB
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 upwards. Today, the pair may reach 1.4300 and then form a new descending structure towards 1.4160. Later, the market may start another growth with the target at 1.4404.

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

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1617.67. Possibly, today the pair may fall to break 1609.00. After that, the instrument may continue trading downwards with the target at 1597.66.

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

BRENT

Brent has updated 22.33. Possibly, today the pair may grow towards 24.62 and then form a new descending structure to reach 23.50, thus forming a new consolidation range between these two levels. If later the price breaks this range to the upside, the market may form one more ascending structure towards 28.50; if to the downside – resume trading downwards with the target at 22.00.

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

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still trading around 6150.00. The main scenario implies that the instrument may fall towards the downside border of this range at 5700.00 and then start a new growth to break 6600.00. Later, the market may continue trading upwards with the target at 7600.00.

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

Ichimoku Cloud Analysis 31.03.2020 (BTCUSD, XAUUSD, AUDUSD)

Ichimoku Cloud Analysis 31.03.2020 (BTCUSD, XAUUSD, AUDUSD)

31.03.2020

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 6372.00; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 6555.00 and then resume moving downwards to reach 4365.00. Another signal to confirm further descending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 6955.00. In this case, the pair may continue growing towards 7805.00. After breaking the support area and fixing below 5665.00, the price may resume moving downwards and finish a Head & Shoulders pattern.

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

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1615.00; 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 1605.00 and then resume moving upwards to reach 1715.00. Another signal to confirm further ascending movement is the price’s rebounding from the downside border of a Triangle pattern. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1525.00. In this case, the pair may continue falling towards 1495.00.

GOLD
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 0.6206; the instrument is moving above Ichimoku Cloud, thus indicating a bullish tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6135 and then resume moving upwards to reach 0.6545. 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 0.5805. In this case, the pair may continue falling towards 0.5720.

AUDUSD