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March 22, 2019

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The material has been provided by InstaForex Company - www.instaforex.com

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Fractal analysis of major currency pairs on March 11

Dear colleagues. For the currency pair Euro / Dollar, the price is in the correction and we expect clearance of a pronounced structure to the level of 1.1270. For the currency pair Pound / Dollar, a pronounced downward movement is expected after the breakdown of 1.2935 and we consider the upward movement as a correction. For the currency pair Dollar / Franc, the price is in the correction and we expect further upward movement after the breakdown of 1.0106. For the currency pair Dollar / Yen, the price forms the expressed initial conditions for the downward cycle of March 5. For the currency pair Euro / Yen, we mainly expect the development of the correction movement and the main development of the trend is expected after the breakdown of 124.25. For the currency pair Pound / Yen, we expect the downward movement after the breakdown of 144.00 and the potential is at the level of 142.94. Forecast for March 11: Analytical review of H1-scale currency pairs: For the currency pair Euro /

March 15, 2019. GBP/USD: High probability of intraday bullish pattern

On January 2nd, the market initiated the depicted uptrend line around 1.2380. This uptrend line managed to push the price towards 1.3200 before the GBP/USD pair came to meet the uptrend again around 1.2775 on February 14. Another bullish wave was demonstrated towards 1.3350 before the current bearish pullback was demonstrated towards the uptrend again. A weekly gap pushed the pair slightly below the trend line (almost reaching 1.2960). However, significant bullish recovery was demonstrated on Monday rendering the mentioned bearish gap as a false bearish breakout. Moreover, a short-term bearish channel was broken to the upside following the mentioned bullish recovery on Monday rendering the current outlook for the pair as bullish. As expected, bullish persistence above 1.3060 allowed the GBPUSD pair to keep the bullish momentum towards 1.3130, then 1.3200. For the current bullish outlook to remain valid, bullish persistence above 1.3200 ( 61.8% Fibonacci expansion level ) is mand

Technical analysis for Gold for April 22, 2019

Gold price despite having broken below the major support area of $1,280, it remains resilient and has not accelerated the decline towards $1,250-60. The oversold short-term conditions justify a bounce towards $1,300 as we mentioned in a previous post and we remain bearish as long as price is below that area. Green rectangle - major support Red rectangle - target Black line - major resistance trend line Red line - expected move Blue line - RSI expected move RSI is turning upwards from oversold levels and this implies we could see price of Gold back test the $1,280-90 previous support now resistance area, before moving lower towards $1,250-60 which is our first target as long as price is below the black downward sloping trend line. Trend remains bearish. Any upside bounce with price below $1,300 is currently considered a selling opportunity. Breaking above $1,300 and holding above it would be a bullish sign. The material has been provided by InstaForex Company - www.instaforex.co

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