Market Technical Analysis by RoboForex

[Vlad RF]

Murrey Math Lines 22.04.2024 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”
EURUSD quotes are below the 200-day Moving Average on D1, indicating a prevailing downtrend. The RSI is approaching the resistance line. In this situation, the price is expected to test the 4/8 (1.0772) level, rebound from it, and decline to the support at 2/8 (1.0498). The scenario might be cancelled by a breakout of the 3/8 (1.0620) level. In this case, the pair could maintain its downward trajectory without corrective growth, falling to the support at 2/8 (1.0498).



On M15, following a rebound from the 4/8 (1.0772) level, the price decline could be additionally supported by a breakout of the lower line of the VoltyChannel.



GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are below the 200-day Moving Average on D1, which indicates a prevailing downtrend. However, the RSI has reached the oversold area. In this situation, the price is expected to surpass the 2/8 (1.2451) level and rise to the resistance at 3/8 (1.2573). The scenario could be cancelled by a breakout of the 1/8 (1.2329) level. In this case, the pair might decline to the support at 0/8 (1.2207).



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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

 

[Vlad RF]

Murrey Math Lines 23.04.2024 (AUDUSD, NZDUSD)

AUDUSD, "Australian Dollar vs US Dollar"
AUDUSD quotes are below the 200-day Moving Average on D1, indicating the prevalence of a downtrend. However, a convergence has formed on the RSI. As a result, in this situation, the quotes are expected to rise above 2/8 (0.6469), later reaching the resistance at 4/8 (0.6591). The scenario could be cancelled by a breakout of the 1/8 (0.6408) level. In this case, the price might return to the support at 0/8 (0.6347).



On M15, the upper boundary of the VoltyChannel is breached, which increases the probability of a further price rise.



NZDUSD, "New Zealand Dollar vs US Dollar"
NZDUSD quotes are below the 200-day Moving Average on D1, revealing the prevalence of a downtrend, while a convergence has formed on the RSI. In this situation, the quotes are expected to breach 1/8 (0.5920), subsequently rising towards the resistance at 4/8 (0.6103). The scenario could be cancelled by a breakout of the 0/8 (0.5859) level, in which case the quotes could drop to the support at -1/8 (0.5798).



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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

 

[Vlad RF]

Murrey Math Lines 24.04.2024 (USDJPY, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes and the RSI remain in the overbought areas on D1. In this situation, the price is expected to test the +2/8 (156.25) level, rebound from it, and decline to the support at 0/8 (150.00). The scenario could be cancelled by surpassing the +2/8 (156.25) level, which might reshuffle the Murrey indication, setting new price movement targets.



On M15, following a rebound from the +2/8 (156.25) level on D1, the price decline could be additionally confirmed by a breakout of the lower line of the VoltyChannel.

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USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes have breached the 8/8 (1.3671) level and exited the overbought area on D1. The RSI has broken below the support line. In this situation, the price is expected to maintain its downward trajectory towards 6/8 (1.3427). The scenario could be cancelled by rising above the 8/8 (1.3671) level. In this case, the pair might resume growth, with the quotes returning to the +1/8 (1.3793) resistance level.



Read more at RoboForex Website

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

 

[Vlad RF]

Japanese Candlesticks Analysis 25.04.2024 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 1.3770. Next, the price could break the level and continue developing the uptrend. However, the quotes might correct towards 1.3660 before rising.



AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed a Harami reversal pattern on H4. Currently, the instrument is going by the reversal signal in a descending wave. The decline target might be 0.6475. Upon testing the support, the quotes could break the level and continue developing the downtrend. However, the quotes might rise to the 0.6560 level before the decline.



USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Harami reversal pattern on H4. Currently, the instrument might go by the reversal signal in a descending wave. The correction target might be 0.9100. After testing the support, the price could rebound from this level and continue developing the uptrend. However, the quotes might rise towards 0.9190 without correcting to the support.



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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