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Japanese Candlesticks Analysis 11.03.2020 (GOLD, NZDUSD, GBPUSD)

11.03.2020

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, Gold continues forming the ascending channel. At the moment, the pair is reversing after finishing a Hanging Man pattern and may later test 1635.00. After that, XAUUSD may continue growing with the target at 1700.00. However, one shouldn’t ignore another scenario, according to which the instrument may return towards the rising channel’s downside border.

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, after breaking the descending channel’s upside border and forming a Shooting Star reversal pattern, NZDUSD has returned to the broken border. Right now, the pair is expected to reverse. We may assume that after reversing the price may reach 0.6200 and then continue falling. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may grow to return to 0.6360.

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 pair is no longer trading inside the descending channel. After testing the resistance level and forming a Harami reversal pattern there, GBPUSD has returned to the channel’s upside border. Possibly, the pair may reverse and return to 1.3130. Later, the market may continue growing and continue the ascending tendency. However, there is another scenario, which implies that the instrument may fall towards 1.2700.

GBPUSD

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Ichimoku Cloud Analysis 12.03.2020 (AUDUSD, XAGUSD, USDCAD)

12.03.2020

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.6459; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the resistance area at 0.6490 and then resume moving downwards to reach 0.6305. 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 canceled if the price breaks the cloud’s upside border and fixes above 0.6555. In this case, the pair may continue growing towards 0.6645.

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

XAGUSD, “Silver vs US Dollar”

XAGUSD is trading at 16.61; 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 16.95 and then resume moving downwards to reach 15.75. 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 17.45. In this case, the pair may continue growing towards 18.25.

SILVER
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 1.3786; 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 1.3760 and then resume moving upwards to reach 1.3965. 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 1.3615. In this case, the pair may continue falling towards 1.3535.

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

 

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Forex Technical Analysis & Forecast 12.03.2020

12.03.2020

EURUSD, “Euro vs US Dollar”

EURUSD continues forming the second descending impulse. Possibly, today the pair may form one more ascending structure towards 1.1355 and then start a new decline with the short-term target at 1.1233. After that, the instrument may correct to reach 1.1356 and then form the third descending impulse towards 1.1220.

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 failing to form a new ascending impulse from 1.2881, GBPUSD has broken this level to the downside. Possibly, the pair may reach 1.2794 and then return to 1.2881 to test it from below. Later, the market may resume falling with the target at 1.2683.

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 is consolidating around 0.9356. The main scenario implies that the pair may fall towards 0.9301 and finish the correction. Later, the market may start a new growth with the first target at 0.9430.

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 finished the correctional wave at 103.18. Today, the pair may move upwards to break 104.47 and then continue growing with the target at 105.89.

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

AUDUSD, “Australian Dollar vs US Dollar”

After breaking 0.6484 downwards, AUDUSD is still falling. Possibly, the pair may reach 0.6429 and then return to 0.6484 to test it from below. Later, the market may resume trading downwards with the target at 0.6292.

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 still consolidating around 72.04. Possibly, today the pair may expand the range up to 73.80 and then form a new descending structure with the short-term target at 68.68.

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 expanded the consolidation range up to 1.3819; right now, it is trading at the top of the ascending wave. Today, the pair may form a new descending structure to reach 1.3690. If later the price breaks this range to the upside at 1.3855, the market may resume trading inside the uptrend to reach 1.3950; if to the downside at 1.3600 – start a new correction with the target at 1.3300.

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 reached the predicted downside target at 1639.71. Possibly, today the pair may consolidate near the lows and form a new descending structure to reach 1626.57. After that, the instrument may start another growth with the target at 1650.20.

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

BRENT

By finishing the ascending impulse towards 39.10 and completing the correction at 32.90, Brent has formed a new consolidation range near the lows. Today, the pair may form the second ascending impulse with the first target at 37.25. Later, the market may break this level and then continue growing towards 41.50. After that, the instrument may correct to return to 37.25. However, if the price falls and breaks 32.80, it may continue its decline to reach 31.00.

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 consolidating around 7785.00. The main scenario implies that the instrument may reach 7300.00 and then resume trading upwards to reach the upside border at 8300.00.

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

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Murrey Math Lines 12.03.2020 (USDCHF, GOLD)

12.03.2020

USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is trading between 0/8 and 1/8. In this case, the price is expected to break 1/8 and then continue growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may continue falling to reach the support at -2/8.

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

In the M15 chart, the VoltyChannel indicator confirms only the second scenario, which implies a further decline towards -2/8. Under these circumstances, we should follow the H4 chart and wait until the price breaks 1/8.

USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD is consolidating. In this case, the price is expected to continue falling to reach 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 growing towards the resistance at 8/8.

GOLD_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, continue the descending tendency towards 3/8 from the H4 chart.

GOLD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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Fibonacci Retracements Analysis 12.03.2020 (AUDUSD, USDCAD)

12.03.2020

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after AUDUSD had finished a quick descending impulse and reached 0.6300, there was a convergence that made the pair start a speedy correctional uptrend, which has already reached 38.2% fibo. The current decline may be considered as a pullback, which may be followed by further mid-term growth towards 50.0% and 61.8% fibo at 0.6797 and 0.6914 respectively.

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H1 chart shows that AUDUSD is falling after finishing the rising impulse; right now, it is testing 61.8% fibo and may later reach 76.0% fibo at 0.6392. After that, the instrument may start a new growth towards 0.6684.

AUDUSD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, due to a gap, a quick rising impulse has broken the long-term high but failed to eliminate the gap. At the moment, USDCAD is heading towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.3935 and 1.4100 respectively. However, the instrument may yet fall towards 1.3392 to close the gap.

USDCAD_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

НIn the H1 chart, the divergence made the pair finish the rising tendency, thus indicating a possible pullback. In this case, the price may fall towards 23.6%, 38.2%, 50.0%, and 61.8% fibo at 1.3674, 1.3584, 1.3511, and 1.3438 respectively. the resistance is the high at 1.3820.

USDCAD_H1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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EURUSD is starting to grow. Overview for 12.03.2020

12.03.2020

After falling for a couple of days, the major currency pair is back to rising.

EURUSD is “in the black” on Thursday morning. The current quote for the instrument is 1.1295.

The World Health Organization on Wednesday declared the rapidly spreading coronavirus outbreak a pandemic. This information sparked more panic, made oil prices fall again, and once again caused a mass exodus of investors from risky assets. Starting March 13th, the USA is going to close its borders for European countries in order to prevent further virus transmission. Airlines all over the world are reducing the number of flights.

Given the circumstances, it is very interesting what decisions the European Central Bank will make during its March meeting. At the moment, its benchmark rate is zero, while the deposit rate is -0.4%. The QE program is active and there are options to extend it in order to support the Euro Area’s economy. The regulator may announce some selective stimulus, for example for Italy, the future financial outlook of which seems pretty gloomy.

So far, market players aren’t very nervous and don’t’ play against the Euro, at least for now.

In the evening, the USA is scheduled to report on the PPI, which may lose 0.1% m/m in February after adding 0.5% m/m in the previous month. The Core PPI, in its turn, may add 0.1% m/m after expanding by 0.5% m/m in January.

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DAILY FREE FOREX SIGNALS – 12-03-2020 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

 

EURUSD SELL -1.12634
SL-1.13205
TP1-1.12416
TP2-1.12195

USDCHF BUY – 0.93707
SL-0.92789
TP1-0.94058
TP2-0.94465

AUDUSD SELL-0.64255
SL-0.64990
TP1-0.64063
TP2-0.63858

NZDUSD SELL -0.62481
SL-0.62919
TP1-0.62313
TP2-0.62130

GBPUSD SELL-1.27399
SL-1.28824
TP1-1.26966
TP2-1.26417

USDCAD SELL-1.37539
SL-1.38182
TP1-1.37342
TP2-1.37155

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Japanese Candlesticks Analysis 11.03.2020 (GOLD, NZDUSD, GBPUSD)

11.03.2020

XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, Gold continues forming the ascending channel. At the moment, the pair is reversing after finishing a Hanging Man pattern and may later test 1635.00. After that, XAUUSD may continue growing with the target at 1700.00. However, one shouldn’t ignore another scenario, according to which the instrument may return towards the rising channel’s downside border.

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, after breaking the descending channel’s upside border and forming a Shooting Star reversal pattern, NZDUSD has returned to the broken border. Right now, the pair is expected to reverse. We may assume that after reversing the price may reach 0.6200 and then continue falling. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may grow to return to 0.6360.

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 pair is no longer trading inside the descending channel. After testing the resistance level and forming a Harami reversal pattern there, GBPUSD has returned to the channel’s upside border. Possibly, the pair may reverse and return to 1.3130. Later, the market may continue growing and continue the ascending tendency. However, there is another scenario, which implies that the instrument may fall towards 1.2700.

GBPUSD

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Forex Technical Analysis & Forecast 11.03.2020

11.03.2020

EURUSD, “Euro vs US Dollar”

After breaking the low of the first descending impulse and reaching the target at 1.1279, EURUSD is correcting towards 1.1356. After that, the instrument may form a new descending structure with the target at 1.1231.

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 finishing the first descending wave at 1.2876, GBPUSD is moving upwards to reach 1.3040. Later, the market may resume falling with the target at 1.2787.

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 completing the ascending wave at 0.9400, USDCHF is correcting towards 0.9300. Later, the market may start a new growth with the target at 0.9425.

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 finished the ascending wave at 105.89. Possibly, today the pair may move downwards with the target at 103.18 and then form one more ascending structure towards 106.00.

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

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the descending wave at 0.6465, AUDUSD is expected to start a new growth towards 0.6577. Later, the market may break this level and then continue trading upwards with the target at 0.6686.

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 has formed a new consolidation range around 72.04. Today, the pair may fall with the first target at 68.96 and then start a new correction to return to 72.04.

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 consolidating around 1.3645; it has expanded the range up to 1.3795. Possibly, today the pair may form a new descending structure to reach 1.3583 and then resume growing with the target at 1.3690.

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 1664.64. Possibly, the pair may expand the range down to 1639.71 and then form one more ascending structure to return to 1664.64.

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

BRENT

Brent has broken the descending channel to the upside. Today, the pair may grow towards 40.76. Later, the market may start a new decline to reach 37.25 and then resume trading upwards with the first target at 43.39.

BRENT
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 ascending impulse at 8125.00, BTCUSD is correcting towards 7777.00. The main scenario implies that the instrument may grow to return to 8125.00, break this level, and then continue trading upwards with the short-term target at 8400.00.

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

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The Pound is falling after the BoE’s decision. Overview for 11.03.2020

11.03.2020

GBPUSD stopped recovering and started a new decline after the British regulator decided to cut its benchmark rate.

The British Pound is retreating against the USD on Wednesday afternoon after the Bank of England cut the key rate. The current quote for the instrument is 1.2862.

So, the BoE’s rate was cut from 0.75% to 0.25%. This decision was made urgently during the unscheduled meeting. Considering how conservative the British regulator is and knowing that in most cases it prefers to watch but not act, it may be concluded that the current economic climate in the country requires a quick response.

The QE program remained at £435B. In fact, the program exceeded a long time ago, but the regulator keeps it open in case of an emergency.

The key reason for the rate cut is the coronavirus and its possible consequences. Probably, the Bank of England will comment on this later.

Later in the afternoon, the United Kingdom is scheduled to publish several macroeconomic reports, but investors are very likely to ignore them. However, January numbers on the Industrial Production and the GDP may turn out to be very interesting, as they are expected to recover and decrease respectively.

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The Aussie reached stability. Overview for 11.03.2020

11.03.2020

After yesterday’s decline, AUDUSD found support.

Yesterday, the Australian Dollar was probably falling way too fast against the USD. Today, it is trying to recover and fix near its lows, which is already quite good. The current quote for the instrument is 0.6505.

The statistics published in the morning showed that the Westpac Consumer Sentiment in Australia dropped down to -3.8% in March after being 2.3% in the previous month. This is a leading indicator, which reflects the country’s economic activity. The report says that the activity is reducing, for obvious reasons.

Spread of the coronavirus around China and other countries in the world is influencing trade and economic relations and incomes of all participants of the global economy, including Australia.

It became known today that Australia decided to appropriate 2.4B USD for the prevention of the spread of COVID-19. According to The Guardian, the country doesn’t allow visitors or travelers from Italy, except in cases of quarantined territories.

The number of infected people in Australia is 100, but taking into account the country’s close relations with China, this number may increase quite fast.

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Fibonacci Retracements Analysis 11.03.2020 (GBPUSD, EURJPY)

11.03.2020

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD was quickly growing to correct the previous downtrend and almost reached 61.8% fibo at 1.3212 but then suddenly reversed and started a new pullback. Such market behavior doesn’t provide a clear understanding of what might happen later. One scenario implies that the pullback may transform into a descending wave and reach 1.2725 or even 61.8% fibo at 1.2700. Another scenario suggests that the instrument may stop falling and update its previous high. In this case, the next upside targets may be 61.8% and 76.0% fibo at 1.3212 and 1.3324 respectively.

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

In the H1 chart, the descending wave has already reached 61.8% fibo. The next downside target is 76.0% fibo at 1.2839. If the price fixes below this level, it may continue falling towards the low at 1.2725.

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 daily chart, the descending wave attempted to reach and test the long-term low at 115.86. If the price breaks the low and fixes below it, the pair may continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 113.18 and 111.54 respectively. However, after reaching the low, the instrument rebounded from it, which may indicate a continuous sideways channel.

EURJPY_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, EURJPY is correcting to the upside, it has already reached 61.8% fibo and may yet grow towards 76.0% fibo at 119.78. If later the price reaches 120.95, the long-term tendency may reverse. The support is at 116.12.

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

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DAILY FREE FOREX SIGNALS – 06-03-2020 | Форекс – Сообщество Трейдеров |إشارات الفوركس|외환 신호

 

 

USDJPY SELL – 104.086
SL-105.212
TP1-103.751
TP2-103.404

EURUSD BUY – 1.13551
SL-1.12828
TP1-1.13902
TP2-1.14282

CADJPY SELL-75.938
SL-76.598
TP1-75.656
TP2-75.408

EURCAD BUY – 1.55793
SL-1.54941
TP1-1.56105
TP2-1.56471

NZDUSD BUY -0.62963
SL-0.62554
TP1-0.63120
TP2-0.63292

CHFJPY SELL-111.621
SL-112.352
TP1-111.348
TP2-111.069

NZDJPY SELL-65.542
SL-66.159
TP1-65.320
TP2-65.063

GBPCAD BUY -1.77396
SL-1.76575
TP1-1.77673
TP2-1.78011

USDCHF SELL -0.93244
SL-0.93848
TP1-0.92968
TP2-0.92659

GBPCHF SELL – 1.20571
SL-1.21466
TP1-1.20264
TP2-1.19952

GBPJPY SELL -134.651
SL-136.077
TP1-134.305
TP2-133.974

GBPUSD SELL -1.28696
SL-1.29617
TP1-1.28327
TP2-1.27892

AUDCAD BUY -0.89427
SL-0.89025
TP1-0.89616
TP2-0.89805

GBPAUD SELL – 1.97703
SL-1.98647
TP1-1.97356
TP2-1.97024

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Forex Technical Analysis & Forecast 17.03.2020 FROM RFXSIGNALS 

17.03.2020

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.

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 has broken 1.2282 to the downside. Possibly, today the pair may fall towards 1.2150 and then grow to reach 1.2284, thus forming a new consolidation range. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.1950; if to the upside – start a new correction towards 1.2444.

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 is still consolidating around 0.9457. Today, the pair may form onу more ascending wave towards 0.9522. Later, the market may start a new decline to return to 0.9457 and then resume trading upwards with the target at 0.9580.

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 still consolidating around 106.42. Possibly, today the pair may grow to reach 107.94. After that, the instrument may form a new descending structure towards 106.50 and then start another growth with the target at 108.70.

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 continues falling. Today, the pair may reach 0.6056 and then resume growing with the target at 0.6170.

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 74.47. Possibly, today the pair may expand the range up to 76.00. Later, the market may resume trading downwards with the target at 72.05.

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 moving upwards. Today, the pair may reach 1.4046 and then start a new correction towards 1.3915. After that, the instrument may resume trading upwards with the target at 1.4200.

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

XAUUSD, “Gold vs US Dollar”

After reaching another short-term downside target at 1461.50, Gold has completed the ascending impulse towards 1519.00 along with the correction at 1485.70; right now, it is consolidating around 1500.50. If later the price breaks this range to the upside, the market may correct towards 1550.75; if to the downside – resume trading inside the downtrend with the target at 1400.00.

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

BRENT

Brent continues falling; it has broken 31.00. According to the main scenario, the price may reach 27.98 and then start another correction to return to 31.00. Later, the market may resume trading downwards with the first target at 25.05.

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

BTCUSD, “Bitcoin vs US Dollar”

 

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

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Ichimoku Cloud Analysis 17.03.2020 (BTCUSD, XAUUSD, NZDUSD) FROM RFXSIGNALS

17.03.2020

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is trading at 5273.00; 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 5445.00 and then resume moving downwards to reach 2655.00. 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 6825.00. In this case, the pair may continue growing towards 7605.00. After breaking the Triangle’s downside border and fixing below 3865.00, the price may resume moving downwards.

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 1487.00; 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 1505.00 and then resume moving downwards to reach 1375.00. 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 1555.00. In this case, the pair may continue growing towards 1605.00.

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

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6029; 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 0.6045 and then resume moving downwards to reach 0.5875. 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 0.6155. In this case, the pair may continue growing towards 0.6225.

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

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The Euro continues its slow recovery. Overview for 17.03.2020 FROM RFXSIGNALS

17.03.2020

The major currency pair is “gaining a bit weight” on Tuesday morning amid another financial meltdown.

On Tuesday morning, EURUSD is slowly rising. The current quote for the instrument is 1.1176.

It was very hot on stock markets yesterday. First of all, investors didn’t like the Fed’s decision to cut the benchmark rate, which was reduced down to zero. At the same time, the regulator announced another buyout of securities.

Also, on Monday, US President Donald Trump said that he didn’t exclude a possibility of the recession in the country’s economy and assumed that the coronavirus pandemic might last at least until the midsummer.

The waters were smoothed by the Trump administration. According to the Markets Insider, the heart of Trump’s plan is a suspension of payroll taxes that would last until the end of the year and cost over $800 billion, according to estimates.

The latest statistics didn’t make any good. The Empire State Manufacturing Index plummeted to -21.5 points in March after being 12.9 points in the previous month. The report is minor but it perfectly describes a possible economic situation in the nearest future.

Today, one should pay attention to the Retail Sales in the USA in February, which may add 0.2% m/m after expanding by 0.3% m/m in January.

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Japanese Candlesticks Analysis 17.03.2020 (USDCAD, AUDUSD, USDCHF) FROM RFXSIGNALS

17.03.2020

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the pair continues growing and updating its highs; it has formed an Engulfing reversal pattern close to the resistance level. Right now, USDCAD is expected to start reversing; the downside target is at 1.3850. The current situation implies that after completing a pullback the price may resume growing towards 1.4090. At the same time, one shouldn’t exclude an opposite scenario, according to which the instrument may continue growing without forming a correction towards 1.3850.

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, the pair continues the descending tendency. After completing a Hammer reversal pattern near the support level, AUDUSD is reversing. Later, the price may complete a correction at 0.6169 and then resume trading downwards. Still, the instrument may choose a different scenario and continue falling towards 0.5940 without any corrections.

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, the pair is testing the descending channel’s upside border; by now, USDCHF has formed several reversal patterns, such as Shooting Star, near the resistance level. The current situation suggests that the pair may reverse and then continue the descending tendency with the target at 0.9243. However, one shouldn’t ignore another scenario, according to which the instrument may return to 0.9530.

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

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Murrey Math Lines 17.03.2020 (AUDUSD, NZDUSD) FROM RFXSIGNALS

17.03.2020

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is moving below 3/8. In this case, the pair is expected to break 2/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.

AUDUSD_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.

AUDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand Dollar vs US Dollar”

As we can see in the H4 chart, NZDUSD is moving inside the “oversold area”. In this case, the pair is expected to break 0/8 and then continue growing to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks -2/8. After that, the lines in the chart will be redrawn, thus indicating new downside targets.

NZDUSD_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 upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.

NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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The Yen remains flexible. Overview for 17.03.2020 FROM RFXSIGNALS

17.03.2020

USDJPY is growing on Tuesday morning; however, investors’ demand in the Yen as a “safe haven” asset is still here.

On Tuesday morning, the Japanese Yen is retreating against the USD. The current quote for the instrument is 106.51.

Yesterday, the Bank of Japan decided to expand its easy monetary policy to help the country’s economy fight the consequences of the coronavirus spread and its influence on global economies all over the world. The Japanese regulator made a decision to loosen its monetary policy even more by applying different tools and mechanisms, from buying government bonds to providing liquidity in American dollars.

Moreover, policymakers also introduced a new operation to provide loans against corporate debt as collateral at the interest rate of 0% with maturity up to 1 year.

The core QE program remained unchanged at ¥2T; it will continue at least until September 2020.

The regulator believes that both external and internal financial conditions became less advantageous due to the Covid-19 outbreak. Uncertainty in the global economy remains high, thus making the economic activity weaker.

The BoJ is another large central bank that actively participates in helping global financial conditions reach stability. Meanwhile, the Yen is being used by market players as usual when it is necessary, as a “safe haven” asset.

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Fibonacci Retracements Analysis 17.03.2020 (EURUSD, USDJPY) FROM RFXSIGNALS

17.03.2020

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, after reaching 38.2% fibo, EURUSD has started a new correction to the downside. If the pair fails to break the low at 1.0777, the next rising wave may reach 50.0% and 61.8% fibo at 1.1665 and 1.1875 respectively. The key support is the low at 1.0777.

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

The H1 chart shows more detailed structure of the current correction. After reaching 61.8%, the pair is trading sideways. The next downside wave may reach 76.0% fibo at 1.0949. The resistance is the high at 1.1495.

EURUSD_H1
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 daily chart, after testing the post-correctional extension area between 138.2% and 161.8% between 101.48 and 99.66 respectively, USDJPY has quickly rebounded for a new correction or a trend reversal. To confirm the trend reversal, the price must break the key resistance at 112.23.

USDJPY_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The H4 chart shows a rising correction after a descending impulse. The price has already reached 61.8% fibo and may continue moving towards 76.0% fibo at 109.59. If the price breaks the latter level, the instrument may continue growing to reach the high at 112.23. The support is at 101.18.

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

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Murrey Math Lines 18.03.2020 (USDJPY, USDCAD) from rfxsignals

18.03.2020

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.

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 above 5/8. In this case, USDCAD may rebound from 6/8 and then resume growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct downwards to reach the support 5/8.

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 upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

USDCAD_M15

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Forex Technical Analysis & Forecast 18.03.2020 from rfxsignals

18.03.2020

EURUSD, “Euro vs US Dollar”

After forming the second descending impulse at 1.0954, EURUSD is correcting to reach 1.1044. After that, the instrument may resume falling to break 1.1005 and then continue trading downwards with the target at 1.0930.

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 1.1940. Possibly, the pair may reach this level and then start consolidating near the lows. If later the price breaks this range to the downside, the market may resume trading downwards with the target at 1.1810; if to the upside – start a new correction towards 1.2444.

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 ascending structure at 0.9650; right now, it is correcting towards 0.9555. Later, the market may start a new growth with the target at 0.9700.

USDCHF
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 to 107.77, USDJPY is correcting towards 106.44. After that, the instrument may resume trading upwards with the short-term target at 108.20.

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 has finished the descending structure at 0.5964; right now. it is correcting to reach 0.6065. After that, the instrument may start a new decline with the target at 0.5888.

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 74.47. Possibly, today the pair may expand the range up to 76.00. Later, the market may resume trading downwards to reach 73.30 and then start another growth with the target at 77.38.

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

USDCAD, “US Dollar vs Canadian Dollar”

After completing the ascending wave at 1.4275, USDCAD is consolidating above 1.4180. Today, the pair may break this level to the downside and start a new correction with the target at 1.4082.

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 completed the second ascending impulse at 1550.70. Possibly, today the pair may fall to reach 1501.55 and then resume trading upwards with the target at 1566.60. Later, the market may form a new descending structure towards 1440.00.

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

BRENT

Brent continues falling with the target at 27.90. According to the main scenario, the price may reach this level and then start another correction to test 32.00 from below. Later, the market may resume trading downwards with the target at 25.05.

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 consolidating around 5100.00. Possibly, today the pair may expand the range up to 5800.00 and then form a new descending structure to break 4800.00. After that, the instrument may continue falling with the target at 3900.00.

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

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Japanese Candlesticks Analysis 18.03.2020 (EURUSD, USDJPY, EURGBP) from rfxsignals

18.03.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the pair continues the correction within the rising tendency. By now, after forming several reversal candlestick patterns, such as Hammer, EURUSD is testing the channel’s downside border. Right now, the pair is reversing. We may assume that later the price may grow to reach 1.1240. However, one shouldn’t exclude a possibility that the price may continue the current pullback towards 1.0955.

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 recovering. fall. At the moment, the pair is testing the support level again, where it has formed an Engulfing reversal pattern. Possibly, the price may reverse and reach 105.80. The current situation implies that after finishing the correction the price may grow towards the target at 108.47. At the same time, the pair may choose another scenario, according to which the instrument is expected to break 105.80 and then continue falling.

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 updating the highs, EURGBP is testing another resistance level, where it has formed several reversal patterns, such as Hanging Man. Right now, the pair may start reversing. At the moment, we may assume that later the market may form a new pullback towards 0.8998 and then resume trading upwards. However, one shouldn’t exclude an opposite scenario, which implies that the instrument may continue the rising tendency with the target at 0.9220 without reversing and correcting.

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

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Fibonacci Retracements Analysis 18.03.2020 (GBPUSD, EURJPY)

18.03.2020

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the daily chart, a quick descending wave in GBPUSD, which started when the Bank of England decided to cut the benchmark rate, is heading to break the key low at 1.1958. If it happens, the pair may continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.1366 and 1.0996 respectively. the resistance is 61.8% fibo at 1.2552.

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

In the H1 chart, the pair is getting closer towards the low at 1.1958. At the same time, there is a convergence on MACD, which may indicate a possible pullback towards the resistance in the nearest future.

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 daily chart, the descending wave attempted to reach and test the long-term low at 115.86. However, after reaching the low, the pair rebounded from it, thus indicating a long correction. If the price breaks the low, the instrument may continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 113.20 and 111.55 respectively.

EURJPY_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, the correction is taking the form of a volatile Zigzag. At the moment, EURJPY is moving between the long-term low and 38.2% fibo at 115.86 and 120.19 respectively.

EURJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

FOREX SIGNALS forexsignals

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Fibonacci Retracements Analysis 18.03.2020 (GBPUSD, EURJPY)

18.03.2020

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the daily chart, a quick descending wave in GBPUSD, which started when the Bank of England decided to cut the benchmark rate, is heading to break the key low at 1.1958. If it happens, the pair may continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 1.1366 and 1.0996 respectively. the resistance is 61.8% fibo at 1.2552.

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

In the H1 chart, the pair is getting closer towards the low at 1.1958. At the same time, there is a convergence on MACD, which may indicate a possible pullback towards the resistance in the nearest future.

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 daily chart, the descending wave attempted to reach and test the long-term low at 115.86. However, after reaching the low, the pair rebounded from it, thus indicating a long correction. If the price breaks the low, the instrument may continue falling towards the post-correctional extension area between 138.2% and 161.8% fibo at 113.20 and 111.55 respectively.

EURJPY_D1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H4 chart, the correction is taking the form of a volatile Zigzag. At the moment, EURJPY is moving between the long-term low and 38.2% fibo at 115.86 and 120.19 respectively.

EURJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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