Month: May 2021

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the instrument continues growing. After forming several reversal patterns, such as Harami, close to the support level during the pullback, XAUUSD is reversing and may later continue trading upwards to reach the resistance area at 1895.00. At the same time, an opposite scenario implies that the price may continue the pullback to reach 1855.00 before resuming its growth.

NZDUSD, “New Zealand vs US Dollar”

As we can see in the H4 chart, the ascending impulse continues. By now, NZDUSD has formed several reversal patterns, such as Inverted Hammer, close to the support level. The pattern materialization target may be the resistance area at 0.7270. Later, the price may test the area, break it, and continue moving upwards. However, an alternative scenario implies that the price may return to 0.7170 before resuming its ascending tendency.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, the uptrend continues. By now, GBPUSD has formed several reversal patterns, such as Harami, not far from the support area. At the moment, the pair may reverse in favor of further growth. In this case, the next upside target after the pullback may be at 1.4250. Later, the instrument may break the resistance level and boost its ascending tendency. Still, there might be an alternative scenario, according to which the asset may correct towards 1.4100 before resuming the ascending tendency.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.8959; 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 0.9005 and then resume moving downwards to reach 0.8875. Another signal in favor of a 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 0.9045. In this case, the pair may continue growing towards 0.9135.

EURJPY, “Euro vs Japanese Yen”

EURJPY is trading at 132.97; 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 132.95 and then resume moving upwards to reach 134.35. Another signal in favor of a 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 132.15. In this case, the pair may continue falling towards 131.05.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2039; 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 1.2075 and then resume moving downwards to reach 1.1915. Another signal in favor of a 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 1.2145. In this case, the pair may continue growing towards 1.2235. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 1.2005.

EURUSD, “Euro vs US Dollar”

The H4 chart shows a sideways movement after a divergence on MACD; by now, the pair has reached 76.0% fibo. If the price breaks this level and fixes above it, the instrument may continue growing towards the long-term high at 1.2350. At the same time, one shouldn’t forget about the divergence – the asset may expand the correctional channel to reach the local support at 61.8% fibo (1.2103).

In the H1 chart, the price is moving within the sideways channel towards the local high at 1.2245. The chart also shows the correctional targets after a divergence on MACD – 23.6%, 38.2%, and 50.0% fibo at 1.2117, 1.2038, and 1.1974 respectively.

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, the situation hasn’t changed much. The pair tried to fall after a local divergence on MACD and decide on where to move in the future; right now, it is consolidating around 23.6% fibo still without any particular direction. However, the most probable scenario after the divergence implies a further decline towards 50.0% and 61.8% fibo at 106.78 and 105.80 respectively. At the same time, one shouldn’t exclude an alternative scenario that suggests a further uptrend to break high at 110.97 and even reach 111.70.

As we can see in the H1 chart, the asset is moving downwards after the divergence on MACD; right now, it is testing 50.0% fibo and may later continue falling to reach 61.8% and 76.0% fibo at 108.36 and 108.04 respectively. The resistance is the local high at 109.79.

EURUSD, “Euro vs US Dollar”

In the H4 chart, EURUSD is trading outside the “overbought area”. In this case, the price is expected to correct downwards and reach the support at 6/8. Still, this scenario may no longer be valid if the price breaks 8/8 to the downside. After that, the instrument may continue growing towards the resistance at +2/8.

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 its decline.

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart of GBPUSD, the situation is quite alike. After breaking 8/8, the pair is trading below it. In this case, the asset is expected to test 7/8, break it, and then continue falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at +2/8.

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 the descending tendency towards 6/8 from the H4 chart.

EURUSD, “Euro vs US Dollar”

After rebounding from 1.2238, EURUSD is falling towards 1.2152 and may later grow to reach 1.2200, thus forming a new consolidation range between the two latter levels. If the price breaks this range to the downside, the market may continue the correction towards 1.2055; if to the upside – start another growth with the target at 1.2322.

GBPUSD, “Great Britain Pound vs US Dollar”

After rebounding from 1.4218 and then reaching 1.4155, GBPUSD has formed a new consolidation range below the latter level. Possibly, the pair may break the range to the downside and start a new decline with the target at 1.4097.

USDRUB, “US Dollar vs Russian Ruble”

After rebounding from 74.65, USDRUB is falling towards 73.22. Later, the market may correct to reach 73.65 and then resume trading within the downtrend with the target at 73.20.

USDJPY, “US Dollar vs Japanese Yen”

After rebounding from 108.62, USDJPY is growing towards 109.29 and may later correct to reach 108.98, thus forming a new consolidation range between the two latter levels. If the price breaks this range to the upside, the market may form one more ascending structure towards 110.10; if to the downside – start another decline with the target at 108.50.

USDCHF, “US Dollar vs Swiss Franc”

After rebounding from 0.8953, USDCHF has completed the ascending impulse towards 0.9001; right now., it is correcting to reach 0.8964. After that, the instrument may continue trading upwards with the target at 0.9055.

AUDUSD, “Australian Dollar vs US Dollar”

After rebounding from 0.7780, AUDUSD is falling to break 0.7702. Later, the market may continue falling with the short-term target at 0.7626.

BRENT

After rebounding from 64.50, Brent has returned to 67.00. Possibly, today the asset may form a new descending structure to reach 64.10 and then grow to return to 67.00. After that, the instrument may break the latter level and continue trading upwards with the target at 70.00.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1873.00 without particular direction. Possibly, the metal may expand the range down to 1854.55 and then form one more ascending structure with the key target at 1900.50. Later, the market may start a new correction towards 1710.00.

S&P 500

The S&P index is still consolidating around 4141.0. Today, the asset may expand the range up to 4198.5 and then resume trading downwards with the short-term target at 3980.4.

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the uptrend continues. After testing the support area, the pair has formed several reversal patterns, including Harami. At the moment, EURUSD may reverse and start a new growth towards the resistance level. In this case, the upside target may be at 1.2295. However, an alternative scenario implies that the price may correct to reach 1.2140 first and then resume growing.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Inverted Hammer, not far from the support area. At the moment, the asset is reversing and correcting. In this case, the upside target is the resistance level at 109.60. At the same time, an opposite scenario implies that the price may start a new pullback towards 108.50 before resuming its ascending tendency.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming several reversal patterns, such as Hammer, while trading close to the channel’s downside border, EURGBP may reverse and grow to reach the resistance area. In this case, the upside target may be at 0.8645. Later, the market may rebound from the level and resume falling. Still, there might be an alternative scenario, according to which the asset may fall to reach 0.8565 without testing the resistance area.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.4152; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.4180 and then resume moving downwards to reach 1.3905. Another signal in favor of a 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 1.4205. In this case, the pair may continue growing towards 1.4300. To confirm further decline, the asset must break the support level and fix below 1.4105m thus breaking the downside border of the Wedge reversal pattern.

BRENT

Brent is trading at 66.75; 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 66.95 and then resume moving downwards to reach 60.95. Another signal in favor of a 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 68.05. In this case, the pair may continue growing towards 69.25.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7169; 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 0.7205 and then resume moving downwards to reach 0.6975. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7250. In this case, the pair may continue growing towards 0.7345. To confirm further decline, the asset must break the support level and fix below 0.7115 to complete a Head & Shoulders reversal pattern.

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the uptrend has reached 50.0% fibo; right now, the pair is consolidating before starting another growth towards 61.8% fibo at 1922.50. However, despite the fact that the current uptrend is quite stable, there is a divergence on MACD, which may hint at a possible pullback. The key support remains the low at 1676.78 but it may soon relocate to 38.2% (1824.45).

The H1 chart shows a more detailed structure of the consolidation range after a quick rise. Under the current circumstances, the asset may break the range both to the upside and downside at 1890.04 and 1852.14 respectively. However, the first scenario is more likely. After breaking 1890.04, XAUUSD may resume growing towards the post-correctional extension area between 138.2% and 161.8% fibo at 1904.35 and 1913.10 respectively. On the other hand, a breakout of the support at 1852.14 will lead to a deeper correction.

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, after breaking 61.8% fibo, USDCHF has slowed down its decline a bit. At the moment, the pair is approaching 76.0% fibo at 0.8930, a rebound from which may lead to a reversal and a new growth but only after a breakout of the local support at 0.8954. The possible upside targets are 23.6%, 38.2%, 50.0%, and 61.8% fibo at 0.9076, 0.9152, 0.9214, and 0.9275 respectively.

The H1 chart shows that the current decline is slowing down and updating the local lows. However, the fact that the highs are relocating to the downside doesn’t imply a possible reversal. In the short term, the asset may test the low at 0.8954.

EURUSD, “Euro vs US Dollar”

After completing the ascending wave at 1.2200 and forming a new consolidation range around this level, EURUSD has broken it to the upside. Possibly, the pair may start another growth with the target at 1.2239 and then resume falling to reach 1.2152.

GBPUSD, “Great Britain Pound vs US Dollar”

After reaching the upside target at 1.4192, GBPUSD is forming a new consolidation range below this level. Possibly, the pair may break the range to the downside and start a new decline towards 1.4100. After that, the instrument may return to test 1.4155 from below and then resume trading downwards with the target at 1.4020.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB has finished the descending wave at 73.46. Today, the pair may correct towards 74.00 and then resume trading within the downtrend with the target at 73.25.

USDJPY, “US Dollar vs Japanese Yen”

After completing the descending wave at 108.73, USDJPY is consolidating above this level. Possibly, the pair may break the range to the upside and form one more ascending structure to break 109.30. Later, the market may continue growing with the target at 109.90.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is falling towards the downside border of the range at 0.8960 and may later grow to break 0.9037. After that, the instrument may continue trading upwards with the target at 0.9100.

AUDUSD, “Australian Dollar vs US Dollar”

After completing the correctional wave at 0.7766 and forming a new consolidation range there, AUDUSD has broken it to the downside and may later continue falling to break 0.7690. Later, the market may continue falling with the target at 0.7581.

BRENT

After finishing the descending wave at 64.80, Brent is consolidating above this level. Possibly, today the asset may expand the range down to 64.10. After that, the instrument may resume trading upwards with the first target at 67.00.

XAUUSD, “Gold vs US Dollar”

Gold is still consolidating around 1873.00. Possibly, the metal may expand the range down to 1854.55 and then form one more ascending structure with the key target at 1900.50.

S&P 500

The S&P index is still consolidating around 4136.0. Today, the asset may expand the range up to 4198.5 and then resume trading downwards with the short-term target at 3980.4.