Forex analysis review
Forex analysis review |
- Ethereum hits new record of $ 2,150 after Visa's announcement of accepting crypto payments on its network
- BTCUSD and the inverted head and shoulders pattern
- Ichimoku cloud analysis of Gold for April 6th, 2021
- Ichimoku cloud analysis on EURUSD
- USDJPY could pull back towards 108.40
- Ripple breaks out of major resistance area.
- Technical Analysis of GBP/USD for April 06, 2021
- Dilemma of the week: buy or sell euros? Fed minutes could turn the dollar
- EUR/USD is trying to turn upwards, however bears may still return
- April 6, 2021 : EUR/USD daily technical review and trade recommendations.
- April 6, 2021 : EUR/USD Intraday technical analysis and trade recommendations.
- April 6, 2021 : GBP/USD Intraday technical analysis and trade recommendations.
- Analytics and trading signals for beginners. How to trade EUR/USD on April 7. Analysis of trade on Tuesday. Getting ready
- Trading Signal for BITCOIN, BTC/USD for April 06 - 07, 2021: Sell below 57,000
- Trading Signal for GBP/USD for April 06 - 07, 2021: Key level 1.3850
- Ethereum forecast for April 6, 2021
- Trading Signal for EUR/USD for April 06 - 07, 2021: Buy above 1.1815
- Bitcoin forecast for April 6, 2021
- Gold rises as US Treasury yields pull back off recent highs
- GBP/USD Hot Forecast for 6 April, 2021
- EUR/USD price analysis for 6 April, 2021
- Apple shares could jump $15-17 amid soaring iPhone sales and investment in electric cars
- Trading idea for the AUD/USD pair
- Robert Kiyosaki: Bitcoin will climb to $1 million in five years
- Trading idea for the CHF/JPY pair
| Posted: 06 Apr 2021 05:02 PM PDT
Visa's announcement that the company will agree to use Ethereum for transactions on its payment network is an ultimate indication that the mainstream financial industry is embracing virtual currencies. Visa's decision is the first time a major payment company has allowed such a currency to be used for payments. The growth of the specified crypto currency is also due to the fact that the total market capitalization of the cryptocurrency industry has reached $ 2 trillion for the first time and has doubled in the last two months. The use of ETH in decentralized financial practices and deposit agreements has contributed to the growth of its status. This reduces the supply in circulation, while advertising, such as the growing demand for Visa, raises prices. In this case, its value has surged over the previous year as the cryptocurrency's popularity has grown among both retail and institutional investors. All of these factors suggest that the next quarter and the rest of the year could be really very good for Ethereum. As markets became more careful, it broke its previous record in February, and then became popular again due to the painting of the artist Beeple, which sold for 50 million pounds. The material has been provided by InstaForex Company - www.instaforex.com |
| BTCUSD and the inverted head and shoulders pattern Posted: 06 Apr 2021 01:59 PM PDT BTC/USD remains below the key neckline resistance at $59,800. For the inverted head and shoulders pattern we mentioned yesterday to be valid and activated, price must break above this resistance area.
Red line -neckline resistance Pink lines - expected upward move size if neckline is broken BTC/USD has support at $55,000. Bulls do not want to see price break below this level. Such a break down will open the way for a deeper pull back most probably towards $40,000. BTC/USD is vulnerable to a deep pull back as the Daily RSI suggests with the bearish divergence. The material has been provided by InstaForex Company - www.instaforex.com |
| Ichimoku cloud analysis of Gold for April 6th, 2021 Posted: 06 Apr 2021 01:53 PM PDT Gold price is breaking above short-term resistance levels. Gold price as long as it holds above $1,710-20 support which was previously resistance, should continue higher towards $1,780 at least. Gold price is expected to move higher towards cloud resistance.
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| Ichimoku cloud analysis on EURUSD Posted: 06 Apr 2021 01:46 PM PDT EURUSD is moving past our bounce target of 1.18-1.1850. Dollar remains weak for the second consecutive session and EUR bulls take advantage of it. Price has broken above the short-term Ichimoku cloud resistance and this implies more upside at least for the short-term.
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| USDJPY could pull back towards 108.40 Posted: 06 Apr 2021 01:42 PM PDT USDJPY has broken the short-term bullish channel it was in. Price is pulling back as Dollar is weak for the second consecutive session. USDJPY is vulnerable to a pull back towards the previous consolidation zone at 108.35-109.15.
Trend remains bullish as price has not broken the sequence of higher highs and higher lows yet. Price is expected to pull back towards the yellow rectangle area which is short-term support. Resistance is at 110.55 and a break above this level could push price towards 111.60 and 112.15 which are the next major resistance levels. The 108 price level is also the 38% Fibonacci retracement level of the move from 103.35. This is key trend change level. Bulls do not want to see a pull back below this level. The material has been provided by InstaForex Company - www.instaforex.com |
| Ripple breaks out of major resistance area. Posted: 06 Apr 2021 01:36 PM PDT The last couple of days Ripple's XRP/USD has been on the spotlight as price is surging above $1, when last week it was trading below $0.60. With XRP again as the number 4 biggest market cap crypto coin, price has broken key resistance levels. Our $1.33 target does not look that far now.
Red lines - Fibonacci expansion XRP/USD is trading above $1 and is heading towards the 161.8% Fibonacci extension at $1.33. Despite still being delisted by US crypto exchanges and despite lawsuit by the SEC, XRP/USD is soaring higher breaking one resistance after the other. Last week we started with a simple triangle break out and we warned that $0.70-$0.80 had to be broken for XRP/USD to reach $1 and higher. This is big news for XRP/USD and we expect price to continue higher over the coming days. The material has been provided by InstaForex Company - www.instaforex.com |
| Technical Analysis of GBP/USD for April 06, 2021 Posted: 06 Apr 2021 01:18 PM PDT
Pivot : 1.3811. The GBP/USD pair broke resistance which turned to strong support at the level of 1.3806. The level of 1.3806 is expected to act as major support today. From this point, we expect the GBP/USD pair to continue moving in a bullish trend from the support levels of 1.3806 and 1.3907. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in the bullish trending market. Consequently, the first support is set at the level of 1.3806 (horizontal green line). So, the market is likely to show signs of a bullish trend around the spot of 1.3806/1.3787. In other words, buy orders are recommended above the spot of 1.3806 or 1.3787 with the first target at the level of 1.3907; and continue towards 1.3940 (the weekly resistance 2). This would suggest a bearish market because the moving average (100) is still in a positive area and does not show any trend-reversal signs at the moment. On the other hand, if the GBP/USD pair fails to break through the resistance level of 1.3969 this week, the market will decline further to 1.3806. The pair is expected to drop lower towards at least 1.3806 with a view to test the weekly pivot point. Also, it should be noted that the weekly pivot point will act as minor support today. At the same time, if a breakout happens at the support levels of 1.3787, then this scenario may be invalidated. But in overall, we still prefer the bullish scenario. Forecast : Buy orders are recommended above the area of 1.3811 with the first target at the level of 1.3871; and continue towards 1.3918. On the other hand, if the GBP/USD pair fails to break out through the resistance level of 1.3918; the market will decline further to the level of 1.3668. The material has been provided by InstaForex Company - www.instaforex.com |
| Dilemma of the week: buy or sell euros? Fed minutes could turn the dollar Posted: 06 Apr 2021 01:06 PM PDT
The euro rose above the 1.18 level against the dollar, as predicted, the nearest target is 1.1885. Bulls of the most popular pair of the Forex market rub their hands in anticipation of profits in long positions in the euro. The exchange rate is rising on Tuesday, despite the latest portion of unpromising data on the eurobloc. The unemployment rate in the euro zone did not fall to 8.1%, as analysts expected, but remained at the same levels. The number of unemployed increased by 48,000. The picture for the European currency is due to the current correction for the US currency. Analysts advise not to rush, but to treat the strengthening of EUR/USD skeptically and with caution. It is assumed that the euro may strengthen, even against the dollar, on the increase in the forecast of global economic growth of the International Monetary Fund. According to the new estimates of the fund, global GDP will expand by 6% this year, not by 5.5%, as previously predicted. The US and China will be the drivers of growth. At the same time, the US economy should reach pre-crisis growth indicators.
Nonetheless, the EUR/USD pair's growth will be limited. It is hardly worth ignoring the fact that vaccination in the United States is going faster, while the situation with the coronavirus in the eurozone remains tense, moreover, lockdowns persist and even increase. The American economy is stronger than the European one and will recover faster, it became obvious to everyone. The economic indicators are convincing: A strong March report on the number of jobs outside agriculture was released the day before, and the PMI in the service sector in March rose to 63.7 from 55.3 in February. Meanwhile, the improving economic outlook will not force the Federal Reserve to raise rates for the foreseeable future. Despite the fact that the economic picture for America is quite good, and it should be even better, the country is still far from the targets, said the President of the Federal Reserve Bank of Cleveland, Loretta Mester. Some market players continue to bet that the increase in inflation will force Fed officials to tighten policy ahead of time. This will finally confirm the reversal of the downtrend in the US currency. On Wednesday, the focus will be on the publication of the minutes of the Fed's March meeting. The documents are likely to reflect the expectations of most senior members of the central bank of the near-term acceleration of inflation. If market players notice even small movements towards curtailing the stimulus program, then the dollar will receive another strong support. Recall that the yield on government bonds has stabilized in the region of 1.700% amid rapid vaccination rates in the United States and due to the outpacing growth of the economy, especially in comparison with the European economy. The dollar has the potential to grow in the short term. The dollar is losing ground on Tuesday as traders take profits. The beginning of discussion of Biden's new plan to inject more than $2 trillion into the economy also contributes to the downward trend. This is despite the fact that it is expected that expenses would be paid by increasing taxes. However, everyone is well aware that the final consumer will still pay for the tax increase, which is another reason to fear inflation in the long term. If the enthusiasm of the stock markets against the background of the prospects for higher taxes looks somewhat out of place, then the reaction of the dollar is quite natural. However, there is no talk of a reversal of the trend in the dollar right now. This is a sign that the new support programs are no longer playing on the dollar's side.
The dollar index, from a technical point of view, is stuck against the background of Biden's plan at the 200-day mark. It is quite possible to form a local high right now. In this regard, the 1.17 level may receive the status of medium-term support. The material has been provided by InstaForex Company - www.instaforex.com |
| EUR/USD is trying to turn upwards, however bears may still return Posted: 06 Apr 2021 01:06 PM PDT
On the eve of the greenback's decline against its main competitors, including the euro, by almost 0.5%. In many ways, this was a continuation of Friday's trading: then the US currency showed a rather restrained reaction to the strong monthly report on US employment. The dollar sank to weekly lows on Monday, even though the March report from the ISM reflected the highest indicators of activity in the US service sector in the entire history of observations. The fact is that positive macroeconomic reports on the United States spurred risk sentiment in the markets. As a result, the protective greenback was under pressure, and key US stock indexes updated record highs. The greenback continued to weaken on Tuesday. The USD index fell to 92.50 points, dropping to its lowest level since March 25. This happened less than a week after the US currency reached a nearly five-month high of 93.45 points. According to some analysts, the greenback's decline this week may indicate that the momentum of the dollar's growth has been exhausted at the moment, since most of the optimistic forecasts for the United States have already been taken into account in the current USD quotes. "While the United States does look exceptional in terms of economic recovery right now, the normalization of the COVID-19 situation in the world will mean that over time, the growth gap between the United States and other developed countries will narrow," TD Securities experts said. "We believe that the current dollar exchange rate more than reflects the expectation of accelerated growth of the US economy. This means that there is room for a pause in the recent USD uptrend," they added. However, not everyone agrees with this point of view. Some analysts believe that the dollar's current retreat will be temporary. According to them, the US currency strongly rose in March, and profit – taking after such a powerful rally is quite common. In particular, Westpac strategists see opportunities for the dollar's succeeding growth. "The greenback has not yet benefited from the improved macroeconomic situation in the United States. Pullbacks to 92.00 points should be redeemed to rise to the highs of the third quarter of 2020 in the area of 94.50 points," they said. The only major release of this week in the US, with the exception of yesterday's report on business activity from the ISM, will be the minutes from the March FOMC meeting.
Signs of a faster recovery in the US economy, along with an acceleration in vaccination in the United States, have raised expectations of rising inflation in the country and a rise in interest rates by the Federal Reserve. The US central bank claims that it will keep rates at a near-zero level until at least 2023. However, the market believes that the Fed's policy is becoming more hawkish, and will look for confirmation of this hypothesis in the minutes from the last FOMC meeting. Another unknown in the current equation is the fate of the U.S. infrastructure plan proposed last week by President Joe Biden. Democrats expect the plan to be approved by Congress by July 4, U.S. Independence Day. Progress in advancing the bill on new financial injections may remind the markets of the potential increase in inflation, and this may support the dollar. Currently, the USD index is trading just above the 200-day moving average, which now passes around 92.40 points. Falling below this line will negate the bullish mood and open the way for the index to the area of 91.30-91.35, where the lows of March are located. Thus, the dollar has yet to confirm its decline, and traders should wait for the corresponding signal from the EUR/USD pair. In recent days, the euro has sharply strengthened against the US dollar, but this was largely due to the greenback's weakness and the euro's recovery from oversold levels. The EU's COVID-19 vaccination campaign is expected to intensify in the second quarter. This gives the EUR/USD bulls some hope. However, promises by European officials to increase the number of vaccinations have been broken in the past. Serious measures are still being taken in the largest EU countries to contain the spread of COVID-19, which puts pressure on the European economy and the single currency. The ultra-soft monetary policy of the ECB, which has increased the speed of quantitative easing, also does not favor the strengthening of the euro. The minutes from the European Central Bank's March meeting will be released on Thursday. ING expects the document to focus on how broad the initial support for the Emergency Asset Purchase Program (PEPP) was, which has since seen a weekly increase in purchases to €19-20 billion, compared with the previous €12 billion. In general, the EUR/USD pair's current recovery looks unstable, and at some point it may attract the bears' attention again. The pair has been under the 200-day moving average since the end of March, which now passes near 1.1875. A breakthrough above will confirm the trend for growth and the pair will aim for 1.1980. EUR/USD is expected to remain positive if it does not fall below 1.1740 in the next few days. The material has been provided by InstaForex Company - www.instaforex.com |
| April 6, 2021 : EUR/USD daily technical review and trade recommendations. Posted: 06 Apr 2021 11:36 AM PDT
The previous episode of upside movement was expressed above the depicted uptrend line (in blue) towards 1.2250 then 1.2350 before it was broken to the downside. By the end of February, Near the price level of 1.2250, Significant SELLING Pressure was found, leading to the current downside movement. The price zone around (1.1990) corresponds provided some temporary buying pressure. However, this recent short-term upside movement was terminated due to lack of sufficient buying momentum. Another downside movement was expressed towards 1.1840. Breakdown below it triggered another downside movement towards 1.1780-1.1750 which is failing to hold so far. Further bearish decline extended towards 1.1710 which provided BUYING Pressure while being tested. s the price zone of 1.1700-1.1720 was being challenged, an upside pullback was expected to pursue towards 1.1840 which failed to provide sufficient bearish pressure. The current Upside breakout above 1.1840 can enhance further movement towards 1.1990. The material has been provided by InstaForex Company - www.instaforex.com |
| April 6, 2021 : EUR/USD Intraday technical analysis and trade recommendations. Posted: 06 Apr 2021 11:31 AM PDT
In late February, a recent bullish spike has pursued towards 1.2150 - 1.2175 (backside of the broken channel limit) where bearish rejection was previously anticipated. Further bearish decline was expected to pursue towards 1.1960 and 1.1850. Both levels got broken to the downside, soon enough to enable further bearish decline afterwards. However, a Short-term sideway movement was initially demonstrated above 1.1850 enabling a bullish movement to take place towards 1.1970-1.2000 which constituted a prominent Supply Zone. Shortly after, the EURUSD pair has launched the current bearish decline below 1.1820. Further bearish continuation is expected to pursue at least towards 1.1690 or at least few pips above. Around 1.1690, a high probability bullish trade could be taken around it, a bullish pullback should be expected towards 1.1850. Any bullish pullback towards the price zone of 1.1850-1.1880 should also be considered for SELLING the Pair. The material has been provided by InstaForex Company - www.instaforex.com |
| April 6, 2021 : GBP/USD Intraday technical analysis and trade recommendations. Posted: 06 Apr 2021 11:28 AM PDT
In February, the GBPUSD pair looked overbought while consolidating sideways around the price-levels of 1.3700. Sideway movement with slight bullish tendency was demonstrated while approaching these price levels around 1.3700-1.3750. Thats's why, Bearish pullback was expressed. However, the GBP/USD pair has failed to maintain sufficient bearish momentum. Strong bullish movement was expressed, Hence, upside movement was expected towards the new limit of the current movement channel around 1.4100-1.4150. Obvious Bearish rejection and a SELL Entry was suggested around this price zone. Since then, the GBPUSD pair has been moving sideways with bearish tendency. Short-term outlook has turned into bearish after the GBP/USD pair could maintain movement below the price zone of 1.3820-1.3900 which corresponded to (61.8%-50%) Fibonacci zone. The current bullish trial for retesting should give a valid SELL Entry. Note that Bearish Persistence below 1.3820 will enhance bearish decline at least towards 1.3500. Otherwise, another breakout above 1.3900 will probably liberate another bullish movement towards 1.4200. The material has been provided by InstaForex Company - www.instaforex.com |
| Posted: 06 Apr 2021 09:39 AM PDT Overview of trade on Tuesday: 30-minute chart of EUR/USD
On Tuesday, EUR/USD was trading higher. Yesterday, the pair began an upward move with the price overcoming the downtrend line. Today, the climb is still going on. For the most part of the day, the pair was moving along the level of 1.1805. The price has not been able to fix below it and make a full-fledged correction. Moreover, no retracement signal was generated at about this level. If beginners look carefully at the price action at around this level, they will see that the price did not surpass this level. The bounce also did not happen as the price was treading water at this level for 10 hours. Thus, only one buy signal was formed today by MACD indicator. This signal is marked by a circle in the chart. Earlier, MACD indicator reversed upwards at the time when the pair was holding at around 1.1805. Hence, we are not going to consider this signal at all. The buy signal was obvious. After it had been formed, the price moved 35 pips upwards, thus enabling traders to earn 30 pips and more. Let me remind you that I recommend beginners placing Take Profit for EUR/USD 30-40 pips away from a market entry point. Today, the pair surpassed the level of 1.1836. So, logically it would be nice to keep long positions open over night. However, you would rather not do this as it is difficult to keep track of market moves at night. 5-minute chart of EUR/USD
Now let's look at a 5-minute chart. The pair was moving in a more complicated manner there than in a 30-minute chart. First, EUR/USD surpassed the level of 1.1805 a few times a day. This level is not so important in a 5-minute chart because a day ago the pair overcame this level easily. Second, it is obvious that EUR/USD was trading flat for the most part of the day. The pair entered the flat market on Monday. The range-bound trading continued in the Asian and European sessions. The trading range was just 25 pips. Thus, in a 5-minute chart no signal appeared today which could be used to plan trading. Only by the end of the trading day, the pair surpassed 1.1836. Exactly the same signal was generated in a 1-hour chart when long positions had been already opened. When it comes to the economic calendar, the only report was released in the EU. It was unemployment data that I didn't present in the picture. Yesterday, I warned you that the market would hardly react to this report. This is what actually happened. How to trade EUR/USD on Wednesday On Wednesday, it would be a good idea to go long EUR/USD according to a 30-minute chart because the trend reversed upwards. The chart reveals a new uptrend line which cannot be called strong but it exists. At present, MACD has climbed to an elevated level and it has to be discharged before it generates new buy signals. Therefore, we have to wait until it declines to the zero level. This can happen late at night. The price has overcome the level of 1.1836, so we have got a new buy signal. If EUR/USD failed to fix below this level at night, this will set the stage for a further growth. As usual, let's place Take Profit 30-40 pips away. Stop Loss is activated at breakeven when the price follows the right direction 15-20 pips. In a 5-minute chart, I'd like to point out the following levels: 1.1836, 1.1875, and 1.1912 from where the price might bounce off. The most important is to recognize a clear signal. If a signal is not so obvious, it would be better to stay away from the market. What's on the chart: Support and Resistance levels are the levels that are targets when opening buy or sell orders. Take Profit levels can be placed near them. Red lines are channels or trend lines that display the current trend and show which direction it is preferable to trade now. MACD indicator (14,22,3) - a histogram and a signal line. When they are crossed, this signals a market entry. It is recommended for use in combination with trend patterns (channels, trend lines). Important speeches and reports in the economic calendar can greatly influence the movement of the currency pair. Therefore, during their release, it is recommended to trade as carefully as possible or exit the market in order to avoid a sharp price reversal against the previous movement. Beginners in the forex market should remember that every trade cannot be profitable. The development of a clear strategy and money management are the key to success in trading over a long period of time. The material has been provided by InstaForex Company - www.instaforex.com |
| Trading Signal for BITCOIN, BTC/USD for April 06 - 07, 2021: Sell below 57,000 Posted: 06 Apr 2021 07:39 AM PDT
BTC / USD, in 4-hour charts, is consolidating above the SMA of 21 and below the strong resistance of 60,000, psychological level. In view of the fact that it has been trying to consolidate above 60,000 several times and has not been able to achieve it, now it has the dynamic support of 57,900 there is the SMA of 21, which could give it a strong bullish impulse and take it to the resistance zone of +2/8 of murray around 62,500. On the other hand, a consolidation below the 21 SMA and the break of the 4-hour trend channel could accelerate the BTC decline, and exert pressure up to the 200 EMA around 55,800. Also, a break in the 4-hour charts, below the 200 EMA, could change the scene and fall to the psychological level of 50,000 there is strong weekly support. Our recommendation is to sell below the SMA of 21 because the eagle indicator is showing an overbought signal and there could be a downward correction of Bitcoin in the next few hours. Support And Resistance Levels For April 06 - 07, 2021 Resistance (1) $59,687 Resistance (2) $60,460 Resistance (3) $62,083 Support (1) $57,291 Support (2) $55,844 Support (3) $54,895 The material has been provided by InstaForex Company - www.instaforex.com |
| Trading Signal for GBP/USD for April 06 - 07, 2021: Key level 1.3850 Posted: 06 Apr 2021 07:22 AM PDT
The GBP / USD pair in the morning of the American session is trading, just above the 21 SMA, and below Murray's 2/8 and below the 200 EMA, showing some consolidation between 1.3850 - 1.3916 . Prime Minister Boris Johnson has announced that the next phase of the reopening is a step, in addition to bars, gyms, hair salons and other types of businesses will also return to normality scheduled for April 12. The move has come after Britain's vaccination campaign has borne fruit, the result being that COVID-19 cases continue to fall. This could give the British pound a strong bullish move, and break the 1.40 psychological level. On a technical level, the eagle indicator is showing a sign of overbought market conditions, and pointing to the downside. So, GBP / USD is likely to experience a consolidation below 1.3916. If the GBP / USD pair trades below the SMA of 21 located at 1.3845, it will be a good opportunity to continue selling until the support of 1.3795, there is located the EMA of 200 in 1-hour charts. On the other hand, above 1.3855, it could continue its upward movement until the resistance zone of 1.3916, Murray's 2/8 zone and EMA of 200, also at 1.3850, a dynamic support is located, since on previous occasions this It has been a strong resistance, consolidating above it can give the GBP the boost it needs. Support And Resistance Levels For April 06 - 07, 2021 Resistance (1) 1.3885 Resistance (2) 1.3940 Resistance (3) 1.3972 Support (1) 1.3820 Support (2) 1.3773 Support (3) 1.3739 *********************************************************** Trading tip for GBP/USD for April 06 - 07, 2021 Buy above 1.3855 (Strong Support and SMA 21), with take profit at 1.3916, stop loss below 1.3815. Sell below 1.3835 (SMA 21), with take profit at 1.3780 (EMA 200-H1), stop loss above 1.3870. The material has been provided by InstaForex Company - www.instaforex.com |
| Ethereum forecast for April 6, 2021 Posted: 06 Apr 2021 06:59 AM PDT
1. Analysis of ETHTUSD volume on Binance exchange. 2. Long-term trend analysis. 3. Medium-term trend analysis. 4. Short-term trend analysis. 5. Japanese candlestick analysis. 6. Conclusions. 7. Statistics. 1. Analysis of ETHTUSD volume on the Binance exchange. In this analysis, we will use the data on horizontal trading volume from the Binance exchange on daily charts. The analysis is based on the footprint-profile theory. According to it, the movement of the level with the highest traded volume during the day can indicate a possible direction of the trend. The level with the highest traded volume is the level where the maximum number of transactions has been made. This is the level of a major market player. Accordingly, if the maximum volume level moves higher, this indicates an uptrend. A downward movement of this level indicates a downtrend. A chaotic movement signals that the market is trading in a sideways trend. 04.04.21 - The level of the maximum traded volume (POC - Point Of Control) - 1988.67 05.04.21 - The level of the maximum traded volume (POC - Point Of Control) - 2098.92 The POC has moved up, and the price is above the POC level. The market is trading upwards, so you can open long positions. 2. Long-term trend analysis. A trend is the trader's friend. Many market participants know this saying but do not know how to use it. The answer is simple: trade only in the direction of the trend. In this case, your trades will have more profit potential with less risk. The classic Dow Theory describes three main trends:
You need to analyze these trends before opening any trade. This is what we are going to do in the analysis below. The long-term trend in this analysis is a daily trend. Trades will be opened on the daily chart and held for several days. The analysis of the daily trend is carried out with the help of the EMA(48) - an exponential moving average with a period of 48. If the daily candlestick closes above the EMA(48), this will mean that the quotes are moving in an uptrend and we should open long positions. If the daily candlestick closes below the EMA(48), this will mean that the quotes are trading downwards and we should go short.
The price is above the EMA(48). The long-term trend is upward. In this situation, you can open long positions. 3. Medium-term trend analysis. In this analysis, the medium-term trend is a trend on the four-hour chart (H4). The EMA(48), an exponential moving average with a period of 48, will also be used in analysis. If the candlestick closes above the EMA(48) on H4, this means that the quotes are moving in an uptrend and we should buy. If the candlestick closes below the EMA(48) on H4, this means that we have a downtrend and we should sell.
The price is above the EMA(48). The medium-term trend is upward. Therefore, it is possible to open buy orders. 4. Short-term trend analysis. The short-term trend in this analysis is a trend on the H1 chart. It can show a point where we can enter the market. Here, we will again use the EMA(48) - an exponential moving average with a period of 48. If the candlestick closes above the EMA(48) on H1, this means that the quotes are trading upwards and we should buy. If the candlestick closes below the EMA(48) on H1, this indicates that the trend is downward and we should go short.
The price is above the EMA(48). The short-term trend is upward. Therefore, traders can go long. The long-term, medium-term, and short-term trends coincide. 5. Japanese candlestick analysis. The classic Japanese candlestick analysis is applied to the daily trading chart. In this analysis, we will also analyze the daily candlestick.
The daily candlestick closed upwards, the candlestick is white. The high is above the high of the previous candlestick. The candlestick pattern is a hammer directed upwards. An upward movement is highly likely. 6. Conclusions. Volume analysis - BUY. Long-term trend - BUY. Medium-term trend - BUY. Short-term trend - BUY. Japanese candlestick analysis - BUY. Conclusion: On April 6, you can open long positions. 7. Statistics. To analyze how effective this approach is, the data on completed transactions is tracked. The forecast is made for four instruments: Bitcoin, Ethereum, Litecoin, and BCHUSD. Statement:
We continue to keep the position on Ethereum open. The stop-loss order was moved to the area below the low of the previous trading day. Stop-loss orders for new trades can be placed beyond the daily extreme point. We do not set take-profit orders, as we will continue to move SL beyond the extreme points of the future sessions. Since trading is carried out on the daily charts, this recommendation remains relevant throughout the day. Trade along the trend and you will make a profit! The material has been provided by InstaForex Company - www.instaforex.com |
| Trading Signal for EUR/USD for April 06 - 07, 2021: Buy above 1.1815 Posted: 06 Apr 2021 06:52 AM PDT
The EUR / USD pair, in the American session on 4-hour charts, is trading above the SMA of 21 and below the 1/8 of Murray located at 1.1840, maintaining a slight bullish bias. Despite the rebound seen at the beginning of the week, it appears that the bearish force is still in control of the price action, leaving the pair vulnerable to another bearish move in the near term. However, a convincing breakout of 1.1840 (1/8) could see gains accelerate to 1.1934, the relevant 200 EMA zone. As long as it is below the 200 EMA (1.1934), the short-term stance for the EUR / USD is expected to remain negative, and this bullish move is seen as a correction for a new bearish wave. On the other hand, the US dollar, USDX, is falling below the important support at 92.68, which is a sign of a bearish move, which could give the EUR / USD strong bullish momentum. Therefore we recommend buying EUR / USD at current price levels with targets at 1.1840 and 1.1860, the latter being a strong resistance. On the contrary, a technical bounce at the 21 SMA may give us a good chance to buy, around 1.1780. Support And Resistance Levels For April 06 - 07, 2021 Resistance (1) 1.1841 Resistance (2) 1.1870 Resistance (3) 1.1890 Support (1) 1.1799 Support (2) 1.1788 Support (3) 1.1758 *********************************************************** Trading tip for EUR/USD for April 06 - 07, 2021 Buy above 1.1815, with take profit at 1.1840 and 1.1860, stop loss below 1.1780. Buy if rebound 1.1780 (SMA 21) with take profit at 1.1840 and 1.1860, stop loss below 1.1745. Sell if pullback 1.1860, (Strong Resistance), with take profit at 1.1840 and 1.1800, stop loss above 1.1895. The material has been provided by InstaForex Company - www.instaforex.com |
| Bitcoin forecast for April 6, 2021 Posted: 06 Apr 2021 06:38 AM PDT
1. How to make money on cryptocurrencies? 2. Volume analysis of BTC from Chicago Mercantile Exchange (CME). 3. Trend analysis 4. Japanese candlestick analysis 5. Conclusion. Statistics 1. How to make money on cryptocurrencies? In order to earn on cryptocurrencies, you should trade using a proven strategy. In previous articles, we talked about trading strategy testing. What is your next step after testing? The next step is trading in the market with the help of a demo account. Every trader has an excellent opportunity to test their skills on a demo account and they should definitely use it. A demo account has the following advantages: - Trading experience. The most favorable situation for a trader is during testing. There is no need to rush. There is time to think and make a decision. Trading on a demo account is the imitation of trading in the market. Thus, traders gain invaluable experience that will help them actually trade. - No losses incurred. When trading on a demo account, your actions have no real consequences and you do not risk losing real money. - No worries. Real money trading is associated with stress, fears, and greed. All this can prevent a trader from trading according to the rules of the trading strategy. Training on a demo account does not involve strong emotions and unnecessary worries. As you can see becoming a trader is a slow process. That is why a trader should dedicate some time to trading on a demo account after testing the trading strategy. If, trade statistics coincide with the results of testing after trading on a demo account, then everything is fine and you can proceed to trading on a live account. 2. Volume analysis of BTC from Chicago Mercantile Exchange (CME) Yesterday, bitcoin rose slightly. Today, however, it dropped during early trading. Bulls are not strong enough to significantly extend the upward trend. Other cryptocurrencies are growing in value. Perhaps it can help BTC to go up further. Let us consider the levels of the highest traded volume from the Chicago Mercantile Exchange (CME). These levels indicate the bullish market. April 2, 2021 – the level of the highest traded volume (POC – PointOfControl) – 60,555 April 5, 2021 – the level of the highest traded volume (POC – PointOfControl) – 59,700 The POC has moved down. The price is below yesterday's level of the highest traded volume. The price is correcting sideways. According to volume analysis, you can buy and sell bitcoin today. 3. Trend analysis Trade with the trend is one of the most reliable trading method that was used long before the digital era. In this forecast, the trend is analyzed with the help of an exponential moving average: Long-term trend – a blue EMA 1152 on the H1 chart, which is an alternative to EMA 48 on the D1 chart; Mid-term trend – a red EMA 288 on the H1 chart, which is an alternative to EMA 48 on the H4 chart; Short-term trend – a black EMA 48 on the H1 chart.
The market has reversed once again. All three EMAs are heading upward. The price is above these EMAs. The upward trend is likely to resume.The long-term trend, the mid-term trend, and the short-term one are in line and heading upward. Based on trend analysis, you can enter long positions today. 4. Japanese candlestick analysis Japanese candlestick analysis is the third step in this trading system. Let us analyze yesterday's daily candlestick:
Yesterday's white daily candlestick has closed upward. It is a Hammer candlestick pattern, headed upward. It has a long lower shadow. Today, you can enter long positions according to Japanese candlestick analysis. 5. Conclusion. Statistics
Conclusion: You can buy and sell bitcoin in a short term on April 6, since different types of analysis provide different forecasts and the market is flat. Only statistics can reveal how efficient a trading strategy is. In this forecast, trades are carried out in a separate account. Trades are conducted in four instruments: Bitcoin, Ethereum, Litecoin, and BCH/USD. Statement:
The market is flat. Therefore, I do not open new trades today. The risk per deal is no more than 1%. A Stop Loss is placed beyond the high/low of the day, depending on the direction of the trade. A Take Profit is not set. A Stop Loss is moved beyond the extreme points of the upcoming sessions. Since trading is carried out on daily charts, this recommendation is relevant throughout the day. Trade with the trend and you will generate profits! The material has been provided by InstaForex Company - www.instaforex.com |
| Gold rises as US Treasury yields pull back off recent highs Posted: 06 Apr 2021 06:31 AM PDT
Gold prices edged up on Tuesday amid falling US Treasury yields. The June gold futures contract rose by 0.51% to the level of $1,736.13 per troy ounce. Silver futures for May, by the way, added 1.12% to $25.058 per ounce.
Yesterday, the yield on the benchmark U.S. 10-year Treasury note was characterized by high volatility. First, the indicator reached 1.74% and then 1.70%. The yield on 30-year US bonds hit 2.39% but closed at around 2.35%. Today, the alternative safe-haven asset in the form of US Treasuries has pulled back off its recent highs, dropping from the previous closing price by 1.72% to 1.693%. This was triggered by Fed officials' recent comments. Thus, St. Louis Federal Reserve Bank President James Bullard announced an increase in inflationary pressures this year. Moreover, Bullard and his colleagues from the Federal Open Market Committee welcome a further rise in the inflation rate. As a result, experts revised their previous forecasts of interest rate hikes. According to them, the Fed is unlikely to raise interest rates in the long term. Against this backdrop, the US dollar began to lose in value, hitting an almost two-week low against a basket of six major currencies.
Prior to that, the US stimulus plan combined with a rapid vaccine rollout allowed analysts to predict a faster recovery in the US economy from the coronavirus pandemic. This raised optimism among investors and, subsequently, resulted in steady growth in the US dollar and a steep rise in US Treasury yields. However, despite strong signs of a rapid recovery, US bond yields declined, coming under pressure from the statements by Federal Reserve officials. The US dollar followed suit. The fact of its decline traditionally favors the demand for gold. The precious metal always gains ground amid the lower greenback as it makes it much more accessible to holders of other currencies. However, despite the fact that gold prices have managed to rise from their March lows today, it is too early to talk about the beginning of its uptrend. One way or another, gold needs to first break above the $1,750 mark before it can continue to confidently rise in price. The material has been provided by InstaForex Company - www.instaforex.com |
| GBP/USD Hot Forecast for 6 April, 2021 Posted: 06 Apr 2021 06:30 AM PDT
GBP/USD is trading at around 1.3850, down from the highs around 1.39, triggered after UK PM Johnson announced the next stage of the reopening is going through next week. The pound is shrugging off some demand for the dollar. The pair witnessed a dramatic intraday turnaround on Tuesday and dropped nearly 100 pips from the 1.3920 region, or over two-week tops amid the emergence of some fresh buying around the US dollar. Investors remained optimistic about the prospects for a relatively strong US economic growth amid the impressive pave of coronavirus vaccinations. Support awaits 1.3820, the daily low. It is followed by 1.3810, which was a cushion last week, followed by 1.3780 and 1.3745. Resistance is only at 1.3920, the daily high, followed by 1.3960 and finally by 1.40 – a psychologically significant barrier. The material has been provided by InstaForex Company - www.instaforex.com |
| EUR/USD price analysis for 6 April, 2021 Posted: 06 Apr 2021 05:43 AM PDT
EUR/USD is trading at around 1.18, off the highs as the safe-haven dollar benefits from concerns about a Chinese credit curb and uncertainty related to US stimulus. The eurozone Sentix Investor Confidence Index beat estimates with 13.1 points in April. EUR/US's upside momentum seems to have faltered around the 1.1820/25 band on Tuesday. In spite of the bounce seen at the beginning of the week, it seems sellers remain in control of the price action, leaving the pair vulnerable to another bearish move in the near-term. However, from a technical perspective, a convincing surpass of 1.1840 could see gains accelerate to the next hurdle of relevance in the 1.1880 area. While the short-term stance for EUR/USD is expected to remain negative. Momentum on the four-hour chart is to the upside, and euro/dollar also trades above inverted head and shoulders(reversal pattern) neckline level. All in all, the picture is mixed. Some resistance awaits at the daily high of 1.1820, followed by 1.1875, which provided support in March. It is followed by 1.1910 and 1.1950.Support is at 1.1785, a resistance line from last week, followed by 1.1760, 1.1740 and finally by the round 1.17 level. The material has been provided by InstaForex Company - www.instaforex.com |
| Apple shares could jump $15-17 amid soaring iPhone sales and investment in electric cars Posted: 06 Apr 2021 05:17 AM PDT
Shares of the US high-tech giants have received fresh impetus. Shares of Microsoft, Apple, and Tesla have risen in value over the last 5 trading days, having snapped a 1.5-month losing streak. Nevertheless, it is too early to speak about a trend reversal upwards. Today, let's discuss the ongoing dynamic of Apple stock and its prospects. In principle, the stock of the iPhone maker has been following the long-term bullish trend. For this reason, Apple stock is yielding minor gains, even below consumer inflation in the US. So, the company doesn't have to pay off fat dividends if the shares are always in demand among investors. Of course, its shares tumble from time to time. For example, in the early 2021, Apple shares slumped to $117 apiece from $144. However, we understand that such a decline is caused by a simple retracement or a downward correction. The burst of the market bubble is not the case here. In fact, any decline of Apple shares is not related to worse prospects of the company or a plunge in sales or profits. Thus, Apple shares are set to grow in the long term. Experts predict that both Apple shares and market capitalization will resume growth in 2021. iPhone sales are set to keep growing. Besides, the company is getting ready to launch a new project, production of electric cars. Apple has not made any official statements yet, but mass media is spreading rumors about it. Perhaps some information has already leaked. All in all, experts predict that Apple shares will jump by $14-27. Meanwhile, its shares are trading under minor pressure because Foxconn recently reported on possible disruptions in supplies of spare parts for iPhones. Another thing is that some analysts foresee a more serious advance in the price of Apple shares. For instance, Danny Ives, an expert at Apple business, reckons that its shares could surge as high as $175 apiece with the market capitalization swelling to $3 trillion. The analyst expects robust sales of iPhone 12 and highly successful sales of the future iPhone 13. Experts praise solid profits of its cloud business division. These bullish factors are likely to push up the company's revenue that logically will boost demand for Apple shares. Unfortunately, the whole US equity market arouses concerns due to its dazzling rally during the pandemic. This actually contradicts the state of affairs under the crisis that has been raging across the global economy over the recent year. No doubt, the bubble is doomed to burst sooner or later. The issue of market bubbles has resurfaced among economists. Bubbles happen in financial markets now and then. When is the next?
Apple shares have been trading higher in the last three days. The price rose to $126 apiece from $120. Nevertheless, it is too early to speak about a new uptrend. First, the price has not been able to surpass the previous swing high of $127.17. Second, the price is capped upwards by the lagging indicator Senkou Span B at $127.00. In other words, two serious resistance levels almost coincide. It does not mean that the price will drop down by all means. There is a likelihood that the price will break through this level. If so, the odds are that the price will develop a rapid rally afterwards. The material has been provided by InstaForex Company - www.instaforex.com |
| Trading idea for the AUD/USD pair Posted: 06 Apr 2021 05:05 AM PDT
AUD / USD traded sideways, as a result of which a horizontal channel was formed at 0.76650. Taking this into account, it would be profitable to open long positions, the strategy for which is presented below:
In the trading chart, since the quotes form an Elliot wave (ABC wave pattern) where wave A is the upward initiative last April 1-5, traders can open long positions from 0.76 in order to set off a 50% rollback towards 0.76650. Place limit at 0.75500. Of course, we need to remain cautious as this financial market is precarious, but also profitable as long as the strategy used is correct. The plan above follows the classic and trusted Price Action and Stop Hunting methods. Good luck! The material has been provided by InstaForex Company - www.instaforex.com |
| Robert Kiyosaki: Bitcoin will climb to $1 million in five years Posted: 06 Apr 2021 04:57 AM PDT
The author of the best-selling book "Rich Dad, Poor Dad" Robert Kiyosaki predicts that bitcoin will grow to $1 million within five years. Kiyosaki said that the devaluation of the US dollar makes bitcoin and gold incredibly attractive to people. "I bought Bitcoin at $9,000 and I thought I was being fleeced but the reason I bought it at $9,000 was because COVID shut down the world economy... But now I look like a genius because today it is around $55,000. I think it's going to $1.2 million in five more years." he stated in an interview. However, Kiyosaki remains an ardent fan of gold and silver. "Bitcoin is still untested. But I have the wherewithal to withstand the hit if it goes down. But, gold and silver are God's money. I know, because I've traveled the world looking for this stuff," Robert said. Bad money drives out good ones, so he still buys a lot of silver and gold, bitcoin and ethereum. According to the businessman, "The problem is too big, the pensions are going bust, baby boomers have no money, and the economy is being shut down... This fact makes us all at least become consumers of cryptocurrency, gold and silver." The material has been provided by InstaForex Company - www.instaforex.com |
| Trading idea for the CHF/JPY pair Posted: 06 Apr 2021 04:54 AM PDT
Since March 2020, CHF / JPY has moved by 8,000 pips, thereby reaching the area of technical reversals last 2017-2018. Taking this into account, it would be profitable to open short positions, the strategy for which is presented below:  So, in the trading chart, set sell limits by approximately 50-100 pips. Select the volume in such a way that you can sit out movements that are 300-500 pips. Of course, you still need to be careful to avoid losing money. Trading in this financial market is precarious, but profitable as long as the approach used is correct. That being said, always remember to monitor risks when opening a position. Good luck! The material has been provided by InstaForex Company - www.instaforex.com |
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