Forex Technical Analysis & Forecast by RoboForex

[Vlad RF]

Murrey Math Lines 15.05.2024 (USDJPY, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has surpassed the resistance line. In this situation, the pair is expected to rise further to 7/8 (159.37). The scenario could be cancelled by a breakout of the 5/8 (153.12) support level. In this case, the quotes could drop to 4/8 (150.00).

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

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 the support line. In this situation, the price is expected to decline further to the 6/8 (1.3427) support level. The scenario could be cancelled by rising above 8/8 (1.3671). In this case, the quotes might return to the +1/8 (1.3793) resistance level.

Read more - Murrey Math Lines (USDJPY, USDCAD)

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 16.05.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is testing the support line. In this situation, the price is expected to surpass the 6/8 (0.9033) level and rise to the resistance at 8/8 (0.9277). The scenario could be cancelled by a breakout of the 5/8 (0.8911) level. In this case, the pair might decline to the 4/8 (0.8789) level.

On M15, the price rise could be additionally supported by a breakout of the upper boundary of the VoltyChannel.

XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to rise further to 4/8 (2500.00). The scenario could be cancelled by a breakout of the 3/8 (2375.00) level. In this case, Gold prices might fall to the support at 2/8 (2250.00).

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

 

[Vlad RF]

Murrey Math Lines 17.05.2024 (Brent, S&P 500)

Brent
Brent quotes have broken below the 200-day Moving Average on D1, indicating the potential development of a downtrend. However, convergence has formed on the RSI. As a result, in this situation, the price is expected to surpass the 3/8 (84.38) level and rise to the resistance at 4/8 (87.50). The scenario could be cancelled by breaking below the 2/8 (81.25) level. In this case, Brent quotes might decline to the support at 1/8 (78.12).

On M15, the upper line of the VoltyChannel is broken, which increases the probability of a price rise.

S&P 500
S&P 500 quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. However, the RSI has reached the overbought area. As a result, in this situation, the price is expected to rebound from the 6/8 (5312.5) level and fall to the support at 5/8 (5156.2). The scenario could be cancelled by rising above 6/8 (5312.5). In this case, the S&P 500 quotes might reach the 7/8 (5468.8) resistance level.

Read more - Murrey Math Lines (Brent, S&P 500)

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 20.05.2024 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 2485.00. After testing the resistance level, the price could break above it and continue its upward momentum. However, the quotes could correct to 2420.00 before rising.

NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Harami reversal pattern on H4. Currently, the instrument might continue to go by the reversal signal in a corrective wave. The pullback target might be 0.6100. After rebounding from the support level, the quotes might continue their upward trajectory. However, the price could rise to 0.6175 without testing the support.

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Shooting Star reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 1.2665. However, the price could rise to 1.2765 and continue the uptrend without testing the support level.

Read more - Japanese Candlesticks Analysis (XAUUSD, NZDUSD, GBPUSD)

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 21.05.2024 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is testing the support line. In this situation, the price is expected to rebound from the 5/8 (0.6652) level and rise to the resistance at 7/8 (0.6774). The scenario could be cancelled by a breakout of the 4/8 (0.6591) level. In this case, the quotes might decline to the support at 2/8 (0.6469).

On M15, the price rise might be additionally supported by a breakout of the upper line of the VoltyChannel.

NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes have broken above the 200-day Moving Average on D1, indicating the potential development of an uptrend. The RSI has breached the resistance line. In this situation, the price is expected to surpass the 4/8 (0.6103) level and rise to the resistance at 6/8 (0.6225). The scenario could be cancelled by a breakout of the 3/8 (0.6042) level. In this case, the quotes might drop to the support at 1/8 (0.5920).

Read more - Murrey Math Lines (AUDUSD, NZDUSD)

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 22.05.2024 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the 1.0910 resistance level. However, the price could pull back to 1.0835 and continue its upward momentum after testing the support.

USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the 157.50 mark. However, the price could correct to 155.65 and maintain its upward trajectory after pulling back to the support level.

EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the 0.8665 mark. After testing this level and breaking above it, the price might continue the uptrend. However, the quotes could pull back to 0.8525 before rising.

Read more - Japanese Candlesticks Analysis (EURUSD, USDJPY, EURGBP)

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 23.05.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes on the D1 period are above the 200-day Moving Average, indicating the prevailing upward trend. The Relative Strength Index has overcome the resistance line. In this situation, we expect the 7/8 (0.9155) level to be surpassed, followed by a price increase to the resistance at 8/8 (0.9277). The scenario could be invalidated by a breakout of the 6/8 (0.9033) support level. In this case, the price may decline to 5/8 (0.8911).

In the M15 period, the upper line of the VoltyChannel indicator was breached, confirming the upward trend, and increasing the likelihood of further price growth.

XAUUSD, “Gold vs US Dollar”
XAUUSD quotes on the D1 are above the 200-day Moving Average, indicating the prevailing upward trend. However, there is a divergence in the Relative Strength Index indicator. Consequently, a 3/8 (2375.00) breakout is anticipated in this situation, leading to a subsequent price decline to the support at 2/8 (2250.00). A breakout above the 3/8 (2375.00) could nullify the scenario, with the quotes potentially reaching the 4/8 (2500.00) resistance level.

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

 

[Vlad RF]

Ichimoku Cloud Analysis 24.05.2024 (GBPUSD, AUDUSD, XAUUSD)

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has consolidated under the indicator’s signal lines. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the upper boundary of the Cloud at 1.2685 is expected, followed by a rise to 1.2865. A rebound from the lower boundary of the bullish channel would be an additional signal confirming the increase. This scenario could be invalidated by a breakout below the lower boundary of the Cloud, with the price securing below 1.2545, indicating a potential decline to 1.2455.

AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is testing the lower boundary of the descending channel. The pair is moving below the Ichimoku Cloud, suggesting a downtrend. A test of the lower boundary of the Cloud at 0.6645 is expected, followed by a fall to 0.6475. A rebound from the upper boundary of the bearish channel would be an additional signal confirming the fall. This scenario could be invalidated by a breakout above the upper boundary of the Cloud, with the price securing above 0.6705, indicating a potential rise to 0.6805.

XAUUSD, “Gold vs US Dollar”
Gold is undergoing a correction after an aggressive fall. The instrument is moving below the Ichimoku Cloud, suggesting a downtrend. A test of the Kijun-Sen line at 2355 is expected, followed by a fall to 2255. An additional signal confirming the decline would be a rebound from the upper boundary of the bearish channel. The scenario could be invalidated by a breakout above the upper boundary of the Cloud, with the price securing above 2420, indicating a further rise to 2475. Conversely, a decline could be confirmed by a breakout below the lower boundary of the bullish channel, with the price establishing itself below 2295.

Read more - Ichimoku Cloud Analysis (GBPUSD, AUDUSD, 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

 

[Vlad RF]

Murrey Math Lines 27.05.2024 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”
EURUSD quotes have broken above the 200-day Moving Average on D1, indicating the potential development of an uptrend. The RSI has breached the resistance line. In this situation, the price is expected to surpass the 5/8 (1.0864) level and rise to the resistance at 6/8 (1.0986). The scenario might be cancelled by a breakout of the 4/8 (1.0772) level, which might lead to a trend reversal, pushing the pair to the 3/8 (1.0620) support level.

On M15, the upper line of the VoltyChannel is broken, which increases the probability of a price rise.

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is approaching the overbought area. In this situation, the price is expected to test the 5/8 (1.2817) level, rebound and drop to the support at 4/8 (1.2695). The scenario could be cancelled by a breakout of the 4/8 (1.2695) level. In this case, the pair might decline to the support at 3/8 (1.2573).

Read more - Murrey Math Lines (EURUSD, GBPUSD)

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]

Ichimoku Cloud Analysis 28.05.2024 (GBPUSD, XAUUSD, USDCHF)

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has established itself above the resistance level. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the Kijun-Sen line at 1.2745 is expected, followed by a rise to 1.2935. A rebound from the lower boundary of the bullish channel would be an additional signal confirming the increase. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.2565, indicating a further decline to 1.2475.

XAUUSD, “Gold vs US Dollar”
Gold is correcting while forming a bearish Flag pattern. The instrument is moving below the Ichimoku Cloud, suggesting a downtrend. A test of the Kijun-Sen line at 2360 is expected, followed by a fall to 2275. A rebound from the upper boundary of the Flag pattern would be an additional signal confirming the fall. This scenario could be cancelled by a breakout above the upper boundary of the Cloud, with the price securing above 2405, indicating a further rise to 2455. Conversely, a decline could be confirmed by a breakout below the lower boundary of the Flag pattern, with the price gaining a foothold below 2335.

USDCHF, “US Dollar vs Swiss Franc”
USDCHF is declining following a rebound from the resistance level. The pair is moving above the Ichimoku Cloud, suggesting an uptrend. A test of the upper boundary of the Cloud at 0.9095 is expected, followed by a rise to 0.9225. A rebound from the upper boundary of the bearish channel would be an additional signal confirming the increase. This scenario could be cancelled by a breakout below the lower boundary of the Cloud, with the price securing below 0.9035, indicating a further decline to 0.8945.

Read more - Ichimoku Cloud Analysis (GBPUSD, XAUUSD, USDCHF)

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 29.05.2024 (USDJPY, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has surpassed the resistance line. In this situation, the price is expected to rise further to the nearest resistance at 7/8 (159.37). A breakout below the 6/8 (156.25) support level could cancel this scenario, leading to a potential decline to 5/8 (153.12).

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

USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to surpass the 8/8 (1.3671) level and rise further to the +1/8 (1.3793) resistance level. A breakout below the 7/8 (1.3549) level could cancel this scenario, leading to a potential decline to the 6/8 (1.3427) support level.

Read more - Murrey Math Lines (USDJPY, USDCAD)

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 30.05.2024 (USDCHF, XAUUSD)

USDCHF, "US Dollar vs Swiss Franc"
On the M15 timeframe, USDCHF quotes are currently above the 200-day Moving Average, indicating a prevailing uptrend. The Relative Strength Index (RSI) has breached the resistance line. In this scenario, further upward movement is anticipated towards the nearest resistance at 7/8 (0.9155), followed by a price increase to resistance at 8/8 (0.9277). However, a breakout below the 6/8 (0.9033) support level could invalidate this scenario, potentially leading to a decline towards 5/8 (0.8911).

On the M15 timeframe, the upper line of the VoltyChannel indicator was breached, increasing the likelihood of further price appreciation.

XAUUSD, “Gold vs US Dollar”
On the D1 timeframe, gold prices are currently above the 200-day Moving Average, indicating a prevailing uptrend. The RSI is testing the support line. In this scenario, we anticipate a breakthrough above the 3/8 level (2375.00), followed by a further price increase towards the resistance at 4/8 (2500.00). However, a breakout below the 2/8 level (2250.00) could invalidate this scenario, potentially leading to a decline towards the 1/8 support level (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

 

[Vlad RF]

Murrey Math Lines 31.05.2024 (Brent, S&P 500)

Brent
Brent crude oil quotes are below the 200-day Moving Average on D1, indicating a prevailing downtrend. The RSI has crossed the support line. In this situation, the price is expected to break through the 2/8 (81.25) level and subsequently fall to the 1/8 (78.12) support level. A breakout above the 3/8 (84.38) level could invalidate this scenario, leading to a trend reversal and a rise in quotes to the 4/8 (87.50) resistance level.

On M15, the lower line of the VoltyChannel indicator is breached, increasing the probability of a price decline.

S&P 500
S&P 500 index quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is testing the support line. In this situation, the price is expected to surpass the 6/8 (5312.5) level and rise further to the 7/8 (5468.8) resistance level. A breakout below the 5/8 (5156.2) level could invalidate this scenario, potentially causing the quotes to drop to the 4/8 (5000.0) support level.

Read more - Murrey Math Lines (Brent, S&P 500)

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 03.06.2024 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”
EURUSD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to surpass the 5/8 (1.0864) level and rise to the resistance at 6/8 (1.0986). The scenario could be cancelled by a breakout of the 4/8 (1.0772) level, which might lead to a trend reversal, pushing the pair to the 3/8 (1.0620) support level.

On M15, the upper line of the VoltyChannel is broken, which increases the probability of a price rise.

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are in the overbought area on D1. The RSI has breached the support line. In this situation, the price is expected to break below the 8/8 (1.2695) level and decline to the support at 7/8 (1.2573) support. The scenario could be cancelled by surpassing the +1/8 (1.2817) level. In this case, the pair might rise to the resistance at +2/8 (1.2939).

Read more - Murrey Math Lines (EURUSD, GBPUSD)

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 04.06.2024 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to surpass the 6/8 (0.6713) level and rise to the resistance at 7/8 (0.6774). A breakout below the 5/8 (0.6652) level could cancel this scenario, potentially causing the quotes to drop to the 4/8 (0.6591) support level.

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

NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. However, the RSI has reached the overbought area. As a result, in this situation, the price is expected to test the 6/8 (0.6225) level, rebound, and decline to the support at 4/8 (0.6103). The scenario could be cancelled by surpassing the 6/8 (0.6225) level. In this case, the quotes might rise to the resistance at 7/8 (0.6286).

Read more - Murrey Math Lines (AUDUSD, NZDUSD)

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 05.06.2024 (XAUUSD, NZDUSD, GBPUSD)

XAUUSD, “Gold vs US Dollar”
Gold has formed a Hammer pattern. The instrument is currently following the reversal signal in an ascending wave. The growth target could remain at 2400.00. After testing the resistance level, the price could break above it and continue its upward momentum. However, the quotes could correct to 2305.00 before rising.

NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has formed a Shooting Star reversal pattern on H4. The instrument is currently following the reversal signal in a descending wave. The target for correction could be 0.6165. After testing the support level, the quotes might continue the uptrend. However, the price could rise to 0.6225 without a pullback.

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has formed a Hanging Man reversal pattern on H4. The instrument is currently following the reversal signal in a descending wave. The target for correction could be 1.2725. However, the price might rise to 1.2860 and maintain its upward trajectory without testing the support level.

Read more - Japanese Candlesticks Analysis (XAUUSD, NZDUSD, GBPUSD)

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 06.06.2024 (USDCHF, XAUUSD)

USDCHF, “US Dollar vs Swiss Franc”
USDCHF quotes have broken below the 200-day Moving Average on D1, indicating a potential downtrend. However, the RSI has reached the overbought area. As a result, in this situation, the price is expected to rebound from the 5/8 (0.8911) level and rise to the resistance at 6/8 (0.9033). A breakout below the 5/8 (0.8911) level could cancel this scenario, pushing the pair further down to the support at 4/8 (0.8789).

On M15, the price rise might be additionally supported by a breakout of the VoltyChannel upper line.

XAUUSD, “Gold vs US Dollar”
Gold quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to surpass the 3/8 (2375.00) level and rise further to the 4/8 (2500.00) resistance level. A rebound from the 3/8 (2375.00) level could cancel this scenario, leading to a potential decline to the 2/8 (2250.00) support level.

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

 

[Vlad RF]

Murrey Math Lines 07.06.2024 (Brent, S&P 500)

Brent
Brent crude oil 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 2/8 (81.25) level, rebound, and fall to the support at 0/8 (75.00). Surpassing the 2/8 (81.25) level could invalidate this scenario, propelling the quotes to the resistance at 3/8 (84.38).

On M15, a breakout of the VoltyChannel lower line will provide an additional signal for a price decline.

S&P 500
S&P 500 quotes are in the overbought area on D1, with divergence on the RSI. In this situation, the price is expected to breach the +1/8 (5312.5) level and decline to the 8/8 (5000.0) support level. The scenario could be cancelled by a breakout of the +2/8 (5625.0) level, which might reshuffle the Murrey indication, setting new price movement targets.

Read more - Murrey Math Lines (Brent, S&P 500)

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 10.06.2024 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”
EURUSD quotes have broken below the 200-day Moving Average on D1, indicating a potential downtrend. The RSI has breached the support line. In this situation, the price is expected to break below the 4/8 (1.0772) level and decline to the support at 3/8 (1.0620). The scenario could be cancelled by a rebound from the 4/8 (1.0772) level, which might lead to a rise to the resistance at 5/8 (1.0864).

On M15, the lower line of the VoltyChannel is broken, which increases the probability of a price decline.

GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes remain in the overbought area on D1. The RSI has breached the support line. In this situation, the price is expected to break below the 8/8 (1.2695) level and decline to the support at 7/8 (1.2573) support. The scenario could be cancelled by surpassing the +1/8 (1.2817) level. In this case, the pair might rise to the resistance at +2/8 (1.2939).

Read more - Murrey Math Lines (EURUSD, GBPUSD)

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 11.06.2024 (USDCAD, AUDUSD, USDCHF)

USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has formed a Hanging Man reversal pattern on H4. The instrument is currently following the reversal signal in a descending wave. The decline target could be 1.3730. Next, the price might rebound from the support level and continue its upward momentum. However, the quotes could rise to 1.3800 without a correction.

AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has formed an Inverted Hammer reversal pattern on H4. The instrument is currently following the reversal signal in an ascending wave. The growth target could be 0.6645. After testing the resistance level, the quotes could break above it and maintain their upward trajectory. However, the price might pull back to 0.6580 before rising.

USDCHF, “US Dollar vs Swiss Franc”
USDCHF has formed a Shooting Star reversal pattern on H4. The instrument is currently following the reversal signal in a descending wave. The decline target could be 0.8900. After testing the support level, the price might breach it and continue to develop a downtrend. However, the price could correct to 0.9000 before declining.

Read more - Japanese Candlesticks Analysis (USDCAD, AUDUSD, USDCHF)

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