Technical Analysis by RoboForex

[RoboForex]

Fibonacci Retracements Analysis 07.01.2019 (GOLD, USDCHF)
07.01.2019
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, the long-term correctional uptrend continues; it has already reached the retracement of 61.8%. The next upside target may be the retracement of 76.0% at 1316.02. At the same time, there is divergence at MACD, which may indicate a reverse after the price reaches the target. The local support level is at 1238.65.

In the H1 chart, after being corrected to the downside by 23.6%, the pair is trying to start a new impulse to the upside. If the price breaks the high at 1298.47, the instrument may trade towards its mid-term targets. However, if the instrument starts a new descending wave, its targets will be the retracements of 38.2% and 50.0% at 1273.50 and 1265.72 respectively.

 

[RoboForex]

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has broken another resistance level, formed Shooting Star and Harami reversal patterns, and then completed one more correction. Judging by the previous movements, it may be assumed that after finishing another pullback the instrument may start a new ascending movement.

 

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EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is trading above the 5/8 level and may continue growing towards the resistance at the 8/8 one.

 

[RoboForex]

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7124; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the upside border of the cloud at 0.7095 and then resume moving upwards to reach 0.7355. 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 cancelled if the price breaks the downside border of the cloud and fixes below 0.6865. In this case, the pair may continue falling towards 0.6725.

 

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USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is trading above the 5/8 level and may continue growing towards the 7/8 one.

 

[RoboForex]

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is trading above the 5/8 level and may continue growing towards the 7/8 one.

 

[RoboForex]

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after AUDUSD plummeted, there was a convergence on MACD, which made the pair start a new correctional uptrend. By now, the price has already reached the retracement of 38.2%. The next possible targets may be the retracements of 50.0% and 61.8% at 0.7340 and 0.7525 respectively. The support level is at 0.6921.

 

[RoboForex]

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7186; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the downside border of the cloud at 0.7180 and then resume moving upwards to reach 0.7235. Another signal to confirm further ascending movement is the price’s rebounding from the channel’s downside border. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7165. In this case, the pair may continue falling towards 0.7075.

 

[RoboForex]

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7159; 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 0.7180 and then resume moving downwards to reach 0.7115. Another signal to confirm further descending movement is the price’s rebounding from the channel’s downside border. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7195. In this case, the pair may continue growing towards 0.7275.

 

[RoboForex]

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the pair is forming a new ascending correction, which has already reached the retracement of 23.6%. The next targets may be the retracements of 38.2% and 50.0% at 1.3366 and 1.3424 respectively. If the price breaks the low at 1.3180, the instrument may fall towards the mid-term retracement of 61.8% at 1.3122.

 

[RoboForex]

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD 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 downside border of the cloud at 0.7175 and then resume moving downwards to reach 0.7110. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that Implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.7195. In this case, the pair may continue growing towards 0.7295.

 

[RoboForex]

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the descending correction is getting closer to the retracement of 61.8% at 1.1350. The next downside target may be the retracement of 76.0 at 1.1300. At the same time, the key downside target is the low at 1.1215. The local resistance level is at 1.1435, the key one – 1.1570.

 

[RoboForex]

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, XAUUSD has completed its sideways correction without reaching the retracement of 23.6%. After breaking the high, the price is trading upwards to reach the mid-term retracement of 76.0% at 1316.02. At the same time, there might be a divergence on MACD to indicate that the current uptrend may be over soon.

 

[RoboForex]

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7171; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the upside border of the cloud at 0.7165 and then resume moving upwards to reach 0.7260. 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 cancelled if the price breaks the downside border of the cloud and fixes above 0.7130. In this case, the pair may continue falling towards 0.7055.

 

[RoboForex]

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD has reached the resistance level and formed Harami, Engulfing, and Shooting Star reversal patterns. Judging by the previous movements, at the moment it may be assumed that after finishing another pullback the instrument may continue moving to the upside.

 

[RoboForex]

EUR USD, “Euro vs US Dollar”

The EUR/USD pair reached the upside border of the ascending channel. It’s highly likely that the price finished the bullish impulse in the wave [5] of c. As a result, in the nearest future the market may start a new decline.

 

[RoboForex]

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, after USDCAD had failed to reach the retracement of 38.2% at 1.3053, there was a convergence on MACD, which made the price reverse and start a new ascending correction. After breaking the retracement of 23.6%, the correction may continue towards the retracements of 38.2% and 50.0% at 1.3296 and 1.3367 respectively.

 

[RoboForex]

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after reaching the retracement of 38.2%, GBPUSD slowed down a bit. In case the downtrend continues, the targets will be the retracements of 50.0% and 61.8% at 1.2807 and 1.2710 respectively. However, if the price continues growing, the targets may be the high at 1.3216 and the long-term retracements of 50.0% at 1.3386.

 

[RoboForex]

Forex Technical Analysis & Forecast 30.01.2020 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, USDCAD, GOLD, BRENT, BTCUSD)

30.01.2020

EURUSD, “Euro vs US Dollar”
EURUSD is forming a wide consolidation range around 1.1010; by now, it has completed two ascending impulses from the low at 1.0990. Possibly, today the pair may form the third impulse to reach Triangle’s upside border at 1.1028. Later, the market may start a new correction with the target at 1.1005.

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is consolidating around 1.3016. Possibly, the pair may expand the range up to 1.3080 and then form a new descending structure to break 1.2971. After that, the instrument may continue falling with the target at 1.2905.

USDCHF, “US Dollar vs Swiss Franc”
USDCHF continues falling towards 0.9710. Later, the market may form one more ascending structure to reach 0.9740.

USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still consolidating around 109.98. Possibly, today the pair may expand the range down to 108.72. If later the price breaks this range to the upside, the market may start another correction to reach 109.57; if to the downside – continue falling inside the downtrend with the target at 108.27.

AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is consolidating around 0.6755. Today, the pair may expand the range down to 0.6727 and then start another growth towards 0.6800. After that, the instrument may resume trading downwards with the target at 0.6660.

USDRUB, “US Dollar vs Russian Ruble”
USDRUB has corrected the second descending impulse. According to the main scenario, the price is expected to form the third impulse to reach 62.00 and then resume trading upwards with the target at 62.60.

USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is consolidating around 1.3197. Today, the pair may expand the range up to 1.3211 and then form a new descending structure to break 1.3182. Later, the market may continue trading downwards with the first target at 1.3140.

XAUUSD, “Gold vs US Dollar”
After finishing the ascending wave at 1577.23, Gold is forming another consolidation range around this level. If later the price breaks this range to the upside, the market may form one more ascending structure to reach 1585.90; if to the downside – resume falling to break 1568.57 and then continue trading inside the downtrend with the target at 1551.50.

BRENT
After finishing the correction towards 58.65, Brent is forming a new consolidation range near the lows. If later the price breaks this range to the upside, the market may form one more ascending structure to break 59.95 and then continue trading upwards with the short-term target at 61.20.

BTCUSD, “Bitcoin vs US Dollar”
BTCUSD has reached 9150.00. The main scenario implies that the pair may form one more ascending structure towards 9500.00 and then start a new correction to break 8500.00. After that, the instrument may continue falling with the target at 7700.00.

 

[Vlad RF]

Murrey Math Lines 21.03.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to rebound from the 5/8 (0.8850) level and rise to the resistance at 6/8 (0.8911). The scenario could be cancelled by breaking below the support at 4/8 (0.8789), which could lead to a trend reversal, pushing the pair down to 3/8 (0.8728).

On M15, the upper line of the VoltyChannel is too far away from the current price, so a rebound from the 5/8 (0.8850) level on H4 will signal a price rise.

XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on H4, which indicates a prevailing uptrend. The RSI has reached the overbought area. In this situation, the price is expected to test the 6/8 (2187.50) level and rebound from it, rising to the resistance at 8/8 (2250.00). The scenario could be cancelled by a breakout of the 6/8 (2187.50) level. In this case, Gold quotes might decline to the support at 4/8 (2125.00).

Read more - Murrey Math Lines (USDCHF, XAUUSD)

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team