Technical Analysis of BTC/USD for 25/03/2020:

Crypto Industry News:

The world's largest producer of ASIC Bitcoin excavators, Bitmain, sold out the first round of domestic sales of Antminer S19 within 24 hours of receiving orders.

On March 23, Bitmain wrote on Twitter that it had opened its first domestic sales stage to the long-awaited Antminer S19s - before it was sold out the same day.

The first version of Antminer S19 will have a hashrate of 95 terahash per second (TH / s) and energy efficiency of 4.5 ± 5% joules per terahash (J / TH), while the Antminer S19 Pro has a hashrate of 110 TH / s and an energy efficiency of 29.5 ±% 5 J / TH. The second version of both S19 will have a reduced hashrate by 5 TH / s.

Plain S19 costs around $ 2,180, while the pro version costs $ 2,920. Bitmain says international sales will follow soon.

Customers who managed to enter the first round can expect units to arrive between 11 and 20 May. Given that Bitcoin's halving is currently scheduled for May 12, the estimated S19 shipment dates have provoked the wrath of the mining community.

Many comments in response to the Bitmain announcement suggest that the company chose this date so that it could extract Bitcoins using next-generation ASICs without competition even before the awaited halving.

Technical Market Outlook:

The BTC/USD pair has bounced from the level of $5,827 which is just above the lower Triangle pattern line located at $5,620. Then bulls has pushed the price out of the Triangle formation and almost make the test of the technical resistance located at the level of $6,863. They still make pressure on the market, but in the meantime they must be careful not the fall under the level of $5,500. Any violation of this level will likely lead to another wave down towards the nearest technical support seen at the level of $4,972. The key short-term technical support is seen at the level of $3,946 (13th March sell-off low). Please notice, that any breakout through the black trend line support will accelerate the wave down.

Weekly Pivot Points:

WR3 - $9,603

WR2 - $8,246

WR1 - $7,228

Weekly Pivot - $5,818

WS1 - $4,764

WS2 - $3,330

WS3 - $2,301

Trading Recommendations:

All the Elliott Wave based impulsive wave scenarios have been invalidated due to the important levels violation. The fear of the coronavirus consequences is too strong to traders and it rules on the financial markets, so it is better to stay away from the trading platform until the dust settles. Trade safe.

analytics5e7b09a9b65b7.jpg

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

Elliott wave analysis of EUR/GBP for March 25 - 2020

analytics5e7b0804d343d.jpg

Once the ongoing correction in wave iv is completed, a final rally to 0.9742 is expected to complete the long-term rally from 0.6909. Later, a new large decline will be expected. The first major target is seen at 0.8295.

R3: 0.9390

R2: 0.9276

R1: 0.9217

Pivot: 0.9174

S1: 0.9089

S2: 0.9042

S3: 0.8995

Trading recommendation:

We will be looking for a possible EUR buying opportunity near 0.9010

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

Technical Analysis of ETH/USD for 25/03/2020:

Crypto Industry News:

The Twitter cryptographic community reacted with horror at the news that the US Federal Reserve had received a mandate to print as much new money as needed to avoid a deeper financial crisis due to the coronavirus pandemic.

Charles Hoskinson, CEO of Cardano developer IOHK, tweeted that he "senses the true climate of OneCoin" from the US dollar.

The chairman of the Federal Reserve Bank in Minneapolis, Neel Kashkari, mentioned in a television interview that there is an infinite amount of cash in the Federal Reserve:

"Congress literally told us. Here is the authority they have entrusted to us: print money and ensure liquidity in the financial system."

The idea that the Federal Reserve would be allowed to print an infinite amount of new money sparked a comparison with OneCoin, which was a scam that earned at least $ 4 billion on unsuspecting investors, unaware that the token they were buying had no base value.

Technical Market Outlook:

The ETH/USD pair has bounced from the trend line support around the level of $119.00 and is currently testing the local technical resistance located at the level of $136.62. If bulls will not break through this level, then the price will likely drop towards the trend line support again. Any violation of this level will likely lead to another wave down towards the nearest technical support seen at the level of $110.33. The key short-term technical support is seen at the level of $89.35 (13th March sell-off low). Please notice, that any breakout through the black trend line support will accelerate the wave down.

Weekly Pivot Points:

WR3 - $202.93

WR2 - $178.10

WR1 - $150.26

Weekly Pivot - $126.31

WS1 - $100.57

WS2 - $71.34

WS3 - $47.20

Trading Recommendations:

All the Elliott Wave based impulsive wave scenarios have been invalidated due to the important levels violation. The fear of the coronavirus consequences is too strong to traders and it rules on the financial markets, so it is better to stay away from the trading platform until the dust settles. Trade safe.

analytics5e7b0902e028e.jpg

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

Indicator analysis. Daily review of GBP/USD on March 25, 2020

Trend analysis (Fig. 1).

Today, from the level of 1.1756 (closing of yesterday's candle), an upward pullback is possible after testing the retracement level of 38.2% - 1.2096 (red dashed line). Upon reaching this line, the continuation of the upward movement is possible with the target of 1.2307, a pullback level of 50.0% (red dashed line).

analytics5e7b074fccc6f.jpg

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - up;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today an upward rollback is possible.

An unlikely scenario: from a pullback level of 23.6% - 1.1834 (red dashed line), work down with the target at the support line 1.1438 (black bold line).

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

Elliott wave analysis of GBP/JPY for March 25 - 2020

analytics5e7b061fd964b.jpg

GBP/JPY did not dip to 126.48 before starting to move higher towards the corrective target at 134.52. It seems that a complex b-wave is unfolding and in that case, we should expect a rise around 132.05 and then a second dip to 127.30 and maybe just below before the spike to 134.52.

Once this correction near 134.52 is completed, we should look for a final drop to 123.04.

R3: 134.52

R2: 133.97

R1: 132.92

Pivot: 132.05

S1: 131.20

S2: 130.47

S3: 129.55

Trading recommendation:

We are looking for a GBP selling opportunity near 134.45

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

Fractal analysis of the main currency pairs for March 25

Forecast for March 25:

Analytical review of currency pairs on the scale of H1:

analytics5e7b057a43436.jpg

For the euro / dollar pair, the key levels on the H1 scale are: 1.1047, 1.0988, 1.0942, 1.0881, 1.0833, 1.0718 and 1.0648. Here, we are following the formation of the upward potential of March 20. Short-term upward movement is expected in the range of 1.0833 - 1.0881. The breakdown of the latter value will allow us to expect movement to the level of 1.0942. Price consolidation is in the range of 1.0942 - 1.0988. For the potential value for the top, we consider the level of 1.1047. Upon reaching which, we expect a pullback to the bottom.

Short-term downward movement is expected in the range of 1.0718 - 1.0648.

The main trend is a descending cycle of March 9, we expect a correction

Trading recommendations:

Buy: 1.0833 Take profit: 1.0880

Buy: 1.0882 Take profit: 1.0942

Sell: 1.0718 Take profit: 1.0650

Sell: Take profit:

analytics5e7b05968f514.jpg

For the pound / dollar pair, the key levels on the H1 scale are: 1.2378, 1.2261, 1.2078, 1.1920, 1.1521 and 1.1399. Here, we are following the formation of the initial conditions for the upward cycle of March 19. The continuation of the movement to the top is expected after the breakdown of the level of 1.1920. In this case, the target is 1.2078. price consolidation near this level. Price consolidation is near this level. The breakdown of the level of 1.2080 will lead to a pronounced movement. In this case, the target is 1.2261. For the potential value for the top, we consider the level of 1.2378, upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is expected in the range of 1.1521 - 1.1399.

The main trend is the formation of initial conditions for the top of March 19

Trading recommendations:

Buy: 1.1920 Take profit: 1.2076

Buy: 1.2080 Take profit: 1.2260

Sell: 1.1520 Take profit: 1.1400

Sell: Take profit:

analytics5e7b05bc1b729.jpg

For the dollar / franc pair, the key levels on the H1 scale are: 1.00 23, 0.9914, 0.9843, 0.9739, 0.9682 and 0.9579. Here, we are following the development of the upward cycle of March 9. At the moment, we are expecting movement in correction. The continuation of the movement to the top is expected after the breakdown of the level of 0.9843. In this case, the target is 0.9914. Price consolidation is near this level. For the potential value for the top, we consider the level of 1.0023. Upon reaching which, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 0.9739 - 0.9682. The breakdown of the latter value will lead to an in-depth correction. Here, the goal is 0.9579. We expect the expressed initial conditions to formulate for the downward cycle to this level.

The main trend is the upward cycle of March 9, we expect the development of correction

Trading recommendations:

Buy : 0.9845 Take profit: 0.9914

Buy : 0.9916 Take profit: 1.0020

Sell: 0.9739 Take profit: 0.9682

Sell: 0.9680 Take profit: 0.9580

analytics5e7b05d2b9686.jpg

For the dollar / yen pair, the key levels on the scale are : 112.85, 111.11, 110.31, 108.80. 108.00 and 106.60. Here, we are following the development of the upward cycle of March 9. Short-term upward movement is expected in the range of 110.31 - 111.11. The breakdown of the last value should be accompanied by a pronounced upward movement. Here, the potential target is 112.85. When this level is reached, we expect a pullback to the bottom.

Short-term downward movement is possibly in the range of 108.80 - 108.00. The breakdown of the last value will lead to an in-depth correction. Here, the goal is 106.60. This level is a key support for the top.

Main trend: upward cycle of March 9

Trading recommendations:

Buy: 110.31 Take profit: 111.10

Buy : 111.20 Take profit: 112.85

Sell: 108.80 Take profit: 108.00

Sell: 107.98 Take profit: 106.60

analytics5e7b05ed490e3.jpg

For the Canadian dollar / US dollar pair, the key levels on the H1 scale are: 1.4672, 1.4552, 1.4478, 1.4269, 1.4119, 1.3956, 1.3747 and 1.3615. Here, we are following the formation of the descending structure of March 19. The continuation of movement to the bottom is expected after the breakdown of the level of 1.4269. In this case, the target is 1.4119. Price consolidation is near this level. The breakdown of the level of 1.4119 will begin the development of the downward cycle of March 19. Here, the first goal is 1.3956. The breakdown of the level of 1.3956 will lead to a pronounced movement. Here, the target is 1.3747. For the potential value for the bottom, we consider the level of 1.3615. Upon reaching which, we expect consolidation, as well as a rollback to the top.

Short-term upward movement is possibly in the range of 1.4478 - 1.4552. The breakdown of the latter value will lead to the formation of an upward structure. Here, the potential target is 1.4672.

The main trend is the formation of the descending structure of March 19.

Trading recommendations:

Buy: 1.4478 Take profit: 1.4550

Buy : 1.4554 Take profit: 1.4672

Sell: 1.4267 Take profit: 1.4120

Sell: 1.4116 Take profit: 1.3956

analytics5e7b060f71553.jpg

For the Australian dollar / US dollar pair, the key levels on the H1 scale are : 0.6352, 0.6241, 0.6031, 0.5831, 0.5735, 0.5620 and 0.5517. Here, we are following the formation of potential for the top of March 19. The continuation of the movement to the top is expected after the breakdown of the level of 0.6031. In this case, the target is 0.6241. We expect the formation of large initial conditions ro the level of 0.6352. Short-term upward movement, as well as consolidation is in the range of 0.6241 - 0.6352.

Consolidated movement is possibly in the range of 0.5831 - 0.5735. The breakdown of the last value will lead to an in-depth correction. Here, the target is 0.5620. This level is a key support for the top. Its passage at the price will lead to the development of a downward movement. In this case, the first target is 0.5517.

The main trend is the formation of potential for the top of March 19

Trading recommendations:

Buy: 0.6031 Take profit: 0.6240

Buy: 0.6243 Take profit: 0.6350

Sell : 0.5733 Take profit : 0.5620

Sell: 0.5618 Take profit: 0.5517

analytics5e7b06287fb01.jpg

For the euro / yen pair, the key levels on the H1 scale are: 124.47, 123.42, 121.83, 120.62, 119.35, 118.66, 117.73 and 116.27. Here, we are following the development of the ascending structure of March 12. Short-term upward movement is expected in the range of 120.62 - 121.83. The breakdown of the latter value will lead to a pronounced movement. Here, the target is 123.42. For the potential value for the top, we consider the level of 124.47. Upon reaching which, we expect consolidation, as well as a pullback to the bottom.

Short-term downward movement is possibly in the range of 119.35 - 118.66. The breakdown of the latter value will lead to an in-depth correction. Here, the goal is 117.73. This level is a key support for the top.

The main trend is the upward structure of March 12

Trading recommendations:

Buy: 120.62 Take profit: 121.80

Buy: 121.85 Take profit: 123.40

Sell: 119.35 Take profit: 118.70

Sell: 118.62 Take profit: 117.75

analytics5e7b06407fcf3.jpg

For the pound / yen pair, the key levels on the H1 scale are : 138.12, 134.93, 133.59, 131.58, 128.96, 127.47, 125.56 and 124.22. Here, we are following the formation of the initial conditions for the top of March 18. The continuation of the development of the upward trend is expected after the breakdown of the level of 131.58. In this case, the target is 133.59. Price consolidation is in the range of 133.59 - 134.93. For the potential value for the top, we consider the level 138.12. Upon reaching which, we expect a rollback to the correction.

Consolidated movement is possibly in the range of 128.96 - 127.47. The breakdown of the last value will lead to in-depth movement. Here, the target is 125.56. This level is a key support for the upward structure. Its passage at the price will lead to the development of a downward movement. In this case, the first goal is 124.22.

The main trend is the formation of initial conditions for the top of March 18

Trading recommendations:

Buy: 131.60 Take profit: 133.55

Buy: 133.60 Take profit: 134.90

Sell: 128.94 Take profit: 127.50

Sell: 127.44 Take profit: 125.60

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

Trading plan for EUR/USD on March 25, 2020.

analytics5e7afb97b7fe4.jpg

According to unofficial information, the US Congress will pass today a package of assistance to the economy worth almost $ 2 trillion. The package contains direct payments of up to $ 3 thousand dollars per family, assistance to businesses affected by the coronavirus, and assistance to the affected states and cities.

Update on the coronavirus pandemic: there is a decrease in the number of deaths per day in Italy, and decrease in the rate of the spread of the virus. Before, the increase in the number of new patients was +10% per day, but now, it is only +8%. We may be close to the peak of the pandemic.

The second country with the largest number of cases (excluding China, where the epidemic has almost been overcome) is the United States. It now has 54,000 patients, which increases in about +10% per day. Spain is in third place with 42,000 cases.

Half of the cases in the US are from New York. As a result, everyone leaving the city must go to self-isolation for 14 days.

At the moment, Italy's and Spain's situation were the most difficult. It's worse than China's, as the number of deaths in the country is only 3,300. In Italy, 6,800 people have died, and in Spain, 3,000. This suggests that, most likely, Italy and Spain have a massive undertesting, and there are much more patients than the official data.

Meanwhile, there are far fewer deaths in the US so far - 64.

Other foci: 24,800 - not enough information.

Germany - 33,400 cases

France - 22,300 cases

Switzerland - 9,900 cases and 110 deaths

Britain - 8,100 cases.

Anyhow, the US market rose sharply yesterday, approximately +10% on indices, on the expectation of a package of assistance and a positive response to the weakening of the pandemic.

EUR/USD: the growth of the dollar has stopped.

Be ready to sell at a break down of 1.0635.

You can sell from 1.0940 or higher.

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

There is a change in the markets for the better (USD/CAD pair is expected to decline)

The investors turned their attention again for the second time from the coronavirus pandemic to unprecedented incentive measures from the world Central Banks, but primarily from the Fed. On Tuesday, demand for risky assets sharply increased on all world trading platforms, and the US dollar began to gradually retreat in the currency markets.

In our opinion, such a change of mood in the markets is explained not only by the huge incentive measures presented, but also by the understanding by market participants that troubles come and go, but unique investment opportunities in much depreciated assets, and even against the backdrop of large-scale QEs, are not so common, you can even say that this unique opportunity can only be once in a lifetime.

The US dollar remains under pressure, as not only the wave of demand for risky assets pushes its rate down, but also a noticeable weakening of interest in it as a safe haven in catastrophic crisis situations. The normalization of the situation with coronavirus in China and generally in Asia, as well as the latest news that the number of deaths in Italy began to decline, make the markets look to the future when the influence of this infection will decline and the economies of affected countries will begin to recover.

We expect that the weakening of the US dollar will continue, but only in the case that tension around the coronavirus situation gradually subsides. Most likely, we will not see any bursts of panic since everyone had enough of them. Moreover, severe measures to counter the spread of COVID-19 have been introduced in Europe and the United States, and the first results of these measures are already evident - news of a decrease in the death toll in Italy.

Observing the development of the situation, we believe that at the moment it may be interesting to sell the dollar against major currencies, with the exception of the yen and the franc.

In general, we believe that the present moment is a turning point and extremely interesting for active actions in the financial markets.

Forecast of the day:

The USD/CAD pair is trading above the level of 1.4325 amid renewed oil price growth and general positive on global markets. Thus, we believe that our earlier forecast remains valid. Also, we believe that the pair still has prospects for declining to the level of 1.4200, and then to 1.4030.

analytics5e7afeac36296.jpg

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

Indicator analysis. Daily review of EUR/USD on March 25, 2020

Trend analysis (Fig. 1).

Today, from the level of 1.0786 (closing of yesterday's candle) the price will try to continue to move up with the target of 1.0965, a retracement level of 38.2% (red dashed line). If this level is reached, further work down with the target of 1.0889, a retracement level of 23.6.% (Blue dashed line).

analytics5e7afdde9576d.jpg

Fig. 1 (daily chart).

Comprehensive analysis:

- Indicator analysis - up;

- Fibonacci levels - up;

- Volumes - up;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger Lines - up;

- Weekly schedule - up.

General conclusion:

Today, from the level of 1.0786 (closing of yesterday's candle) the price will try to continue to move up with the target of 1.0965, a retracement level of 38.2% (red dashed line). If this level is reached, further work down with the target of 1.0889, a retracement level of 23.6.% (Blue dashed line).

An unlikely scenario: from a pullback level of 23.6% - 1.0840 (red dashed line), work down, with the target at the lower fractal 1.0637 (red dashed line).

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

The Fed is buying everything!

analytics5e7af665ed62b.jpg

Due to the coronavirus crisis, the Federal Reserve launched a number of programs aimed at helping the economy and the markets. These programs were completed faster than during the financial crisis of 2008-2009, thus, analysts forecasted that by the time the crisis ends, the Fed can withdraw a balance of $10 trillion, which are bonds in quite a large percentage.

Last December 2008, the Fed increased its bonds by $ 3.7 trillion, which led to an increase of $ 4.5 trillion in the total balance of operations for over six years. There were attempts to get rid of some of these assets so the total amount fell below $ 3.8 trillion at one point. However, since the Federal Reserve started buying assets again, its total amount has now exceeded $ 4.7 trillion, which is the largest figure recorded in the history of the Central Bank.

Anyhow, the Fed's current efforts will only increase because last Monday, it announced that it will buy treasuries and mortgage-backed securities "in the necessary quantity" to support its goals of stabilizing markets. As for how fast the Fed is moving, it is set to acquire $ 625 billion this week, which is more than what it acquired during the recession last November 2010 to June 2011. Moreover, if we combine all the Fed's programs aimed at freeing frozen credit markets, it is more ambitious than anything it undertook during the great recession.

In any case, the Fed has once again expanded its programs, and is now buying corporate debt for the first time. It also added commercial mortgage-backed securities to its target purchases to help the credit markets, and expanded the types of securities it accepts as collateral for its liquidity offerings.

Nevertheless, the markets remain concerned about the lack of appropriate fiscal stimulus from the Congress, so stocks sold off aggressively on Monday. That doesn't mean though that the Fed hasn't done its part.

The Congress still needs to help. According to Krishna Guha, Vice Chairman of Evercore ISI and head of the Global Policy and Central Bank Washington, "if the Congress is held positively, which is still our baseline, joint political action should significantly reduce the risk of the viral shock being amplified by the credit shock across the economy."

To emphasize the importance of fiscal and monetary forces working together, the Fed announced a vague proposal aimed at lending to small businesses on the main street, which needs help from the Congress.

The ultimate horizon will be buying stocks and even high-yield corporate bonds through the exchange-traded funds that support major indexes such as the S&P 500 and Dow Jones Industrial Average. Although there are no signs that the Fed is moving in this direction, this could be the latest measure that could happen, if the markets still have too many problems. However, the Fed must first get permission from the Congress.

"There's a reason why the government didn't want this perception of a Central Bank owning risky assets in the past," economist Lauren Goodwin said. "But if the liquidity crisis is starting to turn into a solvency crisis, and we still don't have that fiscal activity to support the economy, then yes, I think you could continue to see the Fed as creative."

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

Hot forecast for GBP/USD on 03/25/2020 and trading recommendation

It seems that the market continues to behave inappropriately, ignoring any macroeconomic data and reacting only to the news background regarding the coronavirus. However, if you look more closely,it becomes clear that the result is exactly what it should be if market participants relied on macroeconomic statistics. It may be a little strange to react to each specific indicator, but in general, the result completely fits into the macroeconomic logic. And yes, of course, the market is so overheated that the pound simply has nowhere to go, and it has nothing else to do but grow. The rate of spread of coronavirus in the United States is really impressive and clearly makes investors think. In any case, the growth of the pound was not groundless.

analytics5e7b044847fc1.jpg

The fact that the market, to put it mildly, reacts strangely to individual macroeconomic data, is perfectly demonstrated by the reaction to the preliminary data on business activity indices in the UK. The record drop in the index of business activity in the service sector from 53.2 to 35.7, to put it mildly, did not greatly impress market participants and did not affect the growth of the pound. At the same time, another record low was set by the composite index of business activity, which collapsed from 53.0 to 37.1. The only thing that could be clung to in any way was the index of business activity in the manufacturing sector, which fell from 51.7, only to 48.0. They predicted a decrease to 45.0. But let's admit that this is clearly not enough. So the pound was largely growing due to elementary oversold prices.

Index of business activity in the service sector (great Britain):

analytics5e7b045ba8ffb.jpg

At the same time, there was nothing for the pound to go down, since in the United States, similar preliminary data on business activity indices also turned out to be incredibly weak. The same index of business activity in the manufacturing sector performed best, falling from 50.7 to 49.2, while they expected a decline as much as 42.0. The index of business activity in the service sector decreased from 49.4 to 39, setting a new anti-record. The composite index of business activity in the end, decreased from 49.6 to 40.5. So on both sides of the Atlantic, the index of business activity overlapped each other. But sales of new homes in the United States had nothing to brighten up, and their decline of 4.4%, which was more than the forecasts of 3.7%, really justifies the growth of the pound. Just like the incredibly rapid rate of spread of the coronavirus across the United States.

The index of business activity in the services sector (United States):

analytics5e7b0492c5a0e.jpg

However, today the pound may suffer due to its own macroeconomic statistics , as inflation in the UK should fall from 1.8% to 1.5%. Further decline in inflation against the background of the coronavirus epidemic may force the Bank of England to take more drastic measures. The pound itself has been growing for several days, often completely unfounded. So a rebound in the opposite direction will not be something strange.

Inflation (UK):

analytics5e7b04a3c7f7f.jpg

Moreover, US data will not be able to offset the negative data for the United Kingdom. With all due respect to orders for durable goods, they are not as significant as inflation. However, these same orders could fall by 0.7%. However, this will mean that the reduction in orders lasts for the second consecutive month.

Durable goods orders (United States):

analytics5e7b04d101161.jpg

In terms of technical analysis, we see a local upward movement relative to the low of 1.1446 towards the 1.1850 level, thus repeating the amplitude built at the end of the past week. In fact, we see a kind of slowdown in the relatively rapid downward movement, during which the levels of thirty years ago were touched. The key coordinates in this case are the levels 1,1450//1,1660//1,1850.

Looking at the trading chart in general terms, we see an inertial downward move with a scale of more than 1,600 points, in the structure of which there were no corrections and pullbacks. In fact, this is the first significant slowdown since the moment of inertia.

It can be assumed that the pattern of March 20 with a conditional development of the 1.1850 level could be repeated, where it is worth considering the initial slowdown with a subsequent downward move.

It is worth considering that the amplitude of the fluctuation within the level of 1.1180 can reach 100 points.

From the point of view of a comprehensive indicator analysis, we see that technical instruments, against the background of the price returning to the 1.1850 level, have turned upward in relation to short-term and intraday periods. At the same time, daily periods invariably keep a sell signal.

analytics5e7b04e23e993.jpg

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

AUD/USD. China comes alive after the epidemic. The Australian dollar increases in value

Currency pairs of the "major group" are gradually recovering, trying to return to the positions where they were before the strongest rally of the dollar. "Aussie" is no exception – the AUS/USD pair is heading back to the usual price area of the 60s. Dollar fever allowed bears to lower the price to 0.5510. The Australian allowed such weakness in relation to the American namesake only 18 years ago, back in 2002. Strong oversold conditions and an improvement in the fundamental background allowed the pair's buyers to move away from multi-year lows – the pair has remained in positive territory for the past three trading days, although it demonstrates fairly high intraday volatility.

analytics5e7af7a42252a.jpg

However, yesterday's round clearly remained for the Australian dollar: on Tuesday, AUD/USD rose by more than 150 points, and without the usual price pullback at the end of the trading day. During the Asian session on Wednesday, "Aussie" showed a similar dynamics, having already tested the 60th figure. And apparently, this week, the pair will still gain a foothold in this price area, unless new force majeure circumstances prevent it.

As you know, China is the main trading partner of Australia, so the dynamics of the AUD/USD exchange rate largely depends on events in the Middle Kingdom. On the one hand, the coronavirus inflicted the first and (so far) most severe blow on China – the Chinese were on the front line of the fight against a new scourge. But on the other hand, Chinese stock and credit markets did not suffer as much in March as others this month – partly due to the fact that the country's peak coronavirus incidence rate has already been reached.

At the moment, Italy remains the leader in the number of fatal cases caused by coronavirus infection. In this country, the total number of deaths exceeded 6,000 people. However, the World Health Organization announced yesterday an acceleration in the spread of COVID-19 in the United States. According to their organization data, 85% of infections that occurred over the past day are in the European Union and the United States, and 40% of them occurred in the United States. This suggests that the epicenter of the virus in the world after Italy may become America.

But the news from China is mostly positive – and this factor provides background support for the Australian dollar. It turned out that in China, in total, about 90% of patients with coronavirus recovered. In addition, in the province of Hubei, where, in fact, the pandemic began to spread, one person was identified in the last day, before that, no new cases of infection were recorded for five days. In total, 78 cases were registered in China over the past 24 hours, and 74 of them are those who came to the country from abroad. Responding to the situation, Beijing has already tightened anti-epidemic measures – now all passengers who will arrive in major cities of China will be quarantined and tested for COVID-19.

But in general, China is gradually and cautiously returning to normal life. In particular, the Chinese authorities have significantly eased the quarantine in six regions of the country – primarily in order to launch the operation of factories closed due to the epidemic. Some experts warn that such steps may lead to a new outbreak of coronavirus, but the authorities assure that businesses will work in appropriate conditions – workers will be regularly checked for temperature, they will be required to stay at a distance from each other and wear protective medical equipment (masks, gowns, gloves). Despite fears, tens of millions of workers have already returned to work, and more than 90% of enterprises in most regions of China have resumed production. Operations in non-ferrous metals production have been fully restored, 90% in the pharmaceutical sector and 80% in the steel industry.

analytics5e7af79254ab1.jpg

The Australian dollar is responding with optimism to all these trends, despite the increase in the incidence of COVID-19 and the tightening of quarantine measures on the green continent. Almost two thousand cases of infection have been detected in Australia, and eight people have died. In the last 24 hours alone, more than 300 new patients with the disease were registered.

However, judging by the dynamics of AUD/USD, "Aussie" is primarily focused on Chinese events and the weakness of the US currency. The US dollar index continues to decline, despite the fact that the US Senate today must pass a large-scale program to help the economy – according to Senator Mitch McConnell, the Congress is "already close to concluding a deal." But this fact is already largely taken into account in current prices, and the fact of a positive vote will only have a short-term impact on the dollar.

Based on the results of the first trading days of this week, we can conclude that the excitement around the US currency has significantly decreased, especially after the Fed provided (as far as it can) much-needed dollar liquidity. This circumstance allows the AUD/USD bulls not only to settle in the 60th figure but also to count on a more serious corrective growth – to the strongest resistance level of 0.6250, which corresponds to the average line of the Bollinger Bands indicator on the daily chart.

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

Overview of the GBP/USD pair. March 25. Too lenient quarantine measures in the UK can lead to an outbreak of the epidemic

4-hour timeframe

analytics5e7aaa12dcbaf.jpg

Technical details:

Higher linear regression channel: direction - downward.

Lower linear regression channel: direction - downward.

Moving average (20; smoothed) - downward.

CCI: 28.5403

The GBP/USD currency pair also continues a weak correction movement after it failed to overcome the Murray level of "-1/8"-1.1475. Thus, in the near future, a moving average line may be worked out, near which the future fate of the pound will be decided. Demand for the US currency has declined in recent days, but this does not mean that the march to the south is over. At any moment, market participants may start to panic again, which will lead to new completely crazy movements in the currency market. Thus, we recommend that traders remain calm and be prepared for any developments. The latest actions of the Federal Reserve and the US Treasury Department have led to a slight drop in demand for the dollar, but this reduction is clearly not enough to activate the full force of the bulls. Volatility remains extremely high, with the pound/dollar pair passing around 300 points daily.

analytics5e7aaa3781a2f.jpg

Business activity in the manufacturing and services sectors of the UK that was published the day before both pleased and upset at the same time. On the one hand, the industrial sector has not collapsed so much, on the other - the service sector has declined significantly. Today, Britain will publish no less significant data on inflation for February. According to experts' forecasts, the main indicator of inflation will slow down to 1.5%-1.7% in annual terms. On a monthly basis, an acceleration of 0.2%-0.3% may follow after the negative value of the previous month.

analytics5e7aaa4a9de56.jpg

We will also publish the basic consumer price index (excluding changes in prices for consumer goods and energy), which is projected to slow down to 1.3%-1.5% y/y. We believe that these data, which are extremely important in normal times, will not cause any reaction from traders today. They refer to the month of February, this time. Secondly, traders who daily trade a pair of 300 points, clearly do not pay attention to these types of reports, which in normal times cause a movement of 70-80 points. Panic continues to reign in the currency market, and the British currency remains to rely on the saturation of bears, and not on macroeconomic statistics.

analytics5e7aaa5fe1c3b.jpg

Unfortunately, the topic of "coronavirus" remains the number one topic in the world. In the UK, by the way, things are not as bad as they could be. At the moment, the number of people infected with the COVID-2019 virus is just over 8,000 people. However, the trend is still extremely negative. It doesn't matter what the total number of infected people is. It is important to know how fast the infection is spreading. Italy, for example, is already catching up with China in terms of the number of cases of the pandemic, which started everything. How many people live in China and how many in Italy? But still. Thus, it will not be surprising if we soon see five-digit numbers of cases in Britain.

In light of the spreading pandemic, scientists are warning Prime Minister Boris Johnson that too lenient quarantine measures could result in hundreds of thousands of cases and tens of thousands of deaths. Scientists from University College London, Cambridge University and the British Center for Health Research concluded that the quarantine measures are not strict enough in the country. Scientists propose to introduce forced isolation of the population, as well as to test for "coronavirus" all residents of the country, and not only people who are in the "risk zone". As previously reported, some British citizens did not take the pandemic seriously and did not self-isolate themselves at home. Therefore, this forces Boris Johnson to address the residents of the UK on a daily basis and ask them to comply with quarantine measures. However, experts believe that a strict quarantine will still be introduced, since the daily increase in the number of cases is 10%. According to other analysts, the rate of increase in the spread of the disease in Britain is already fully in line with the rate in Italy. That is, in two weeks, Britain may well catch up with Italy, the most affected by the "coronavirus".

Even more negative information was waiting for the pound from economists. According to many experts, if the epidemic can be stopped in the near future, the country will lose just over 2% of GDP, if the UK follows the "Italian path", the economy will lose at least 5% of GDP. It is also noted that the "coronavirus" pandemic in its consequences for the Foggy Albion is worse than Brexit. There is a strong drop in industrial production and demand for goods and services within the Kingdom. The UK government has already promised to pay 80% of wages in case of job loss, however, we believe that the situation will still get worse. In times of crisis, the population tends to accumulate, rather than spend and invest. Thus, the British will spend less than usual, which will lead to lower profits in many areas and, as a result, affect the country's GDP. The UK economy is also under pressure from low oil prices. Although the country is not a major oil exporter, it produces a certain amount of "black gold" in the North Sea. Thus, the fall in the price of the world's number one energy carrier will negatively affect the UK oil and gas industry. And of course, the British stock market and its main index FTSE 100, which over the past month declined from 7,457 to 4,993 and only today began to show signs of recovery.

From a technical point of view, the pound is being adjusted now as well as the main FTSE 100 stock index. That is, very weak. As long as the price is located below the moving average line, there are high chances of resuming the downward trend. It is also possible to move in the side channel if the bears do not find new reasons for selling the pair. We continue to draw the attention of traders to the panic state of the market and high volatility. These factors should be taken into account when trading the GBP/USD pair.

analytics5e7aaa71264c2.jpg

The average volatility of the pound/dollar pair over the past 5 days is already 420 points and continues to grow. On Wednesday, March 25, we expect the pair to move within the volatility channel of 1.1316-1.2156. This pair is likely to return to the lower border, but the level of 1.1475 still keeps the pound from falling again. The reversal of the Heiken Ashi indicator down may signal a new approach of the pair to move down.

Nearest support levels:

S1 - 1.1475

S2 - 1.1230

Nearest resistance levels:

R1 - 1.1719

R2 - 1.1963

R3 - 1.2207

Trading recommendations:

The GBP/USD pair continues to adjust at the moment. Thus, sales of the pound remain relevant with the targets of 1.1475 and 1.1316, but it is recommended to open new sell positions not earlier than the downward reversal of the Heiken Ashi. It is recommended to buy the British currency with the target of 1.2156, but not before fixing the price above the moving average. We remind you that in the current conditions, opening any positions is associated with increased risks.

Explanation of the illustrations:

The highest linear regression channel is the blue unidirectional lines.

The lowest linear regression channel is the purple unidirectional lines.

CCI - blue line in the indicator window.

Moving average (20; smoothed) - blue line on the price chart.

Murray levels - multi-colored horizontal stripes.

Heiken Ashi is an indicator that colors bars in blue or purple.

Possible variants of the price movement:

Red and green arrows.

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

GBP/USD: plan for the European session on March 25. Pound volatility is declining, but demand remains. Bulls aim for resistance

To open long positions on GBP/USD you need:

The bears were unable to offer anything serious yesterday from the resistance of 1.1798, which I drew attention to in my forecast, and after several unsuccessful attempts to reduce, the pair returned today to this range, which buyers will now concentrate on. A breakthrough of resistance 1.1798 may lead to the resumption of growth of GBP/USD in the highs 1.1926 and 1.2023, where I recommend taking profits. However, it is not worth counting on a protracted upward scenario. UK inflation data may be worse than economists forecast. Therefore, it is best to open long positions in the scenario of the pound returning to the middle of the side channel of 1.1635, with a false breakout forming there, or buying immediately for a rebound from the year's low at 1.1470.

analytics5e7aefa9725b2.jpg

To open short positions on GBP/USD you need:

Bears need to concentrate on defending the resistance 1.1798, and the next formation of a false breakout from this range, by analogy with March 20, will raise the pressure on the pair and lead to a decrease in the support area of 1.1635. However, it will be more bold to talk about the resumption of the bearish trend only after breaking this range, which will lead to the demolition of a number of stop orders of buyers and a more rapid decrease in GBP/USD to the low of 1.1470, where I recommend taking profits. In case the pair grows above resistance 1.1798, which will coincide with a breakout of the upper boundary of the current downward channel, it is best to return to short positions on the test of a high of 1.1926, or sell immediately for a rebound from a larger resistance of 1.2023, counting on a correction of 60-70 points inside of the day.

analytics5e7aefbdb7fce.jpg

Signals of indicators:

Moving averages

Trade is conducted above 30 and 50 moving averages, which keeps the chance to continue the pound's recovery in the short term.

Bollinger bands

Volatility is gradually decreasing, returning the market to its previous course. A break in either direction of the indicator boundaries can set the direction of the pound in the first half of the day.

Description of indicators

  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
  • MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
  • Bollinger Bands (Bollinger Bands). Period 20
The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD: plan for the European session on March 25. Bears are ready to act at every convenient growth of the euro to major

To open long positions on EURUSD, you need:

Despite the active measures taken by the Federal Reserve for an unlimited volume of bond purchases and the White House's actions, counting on approval of a $2 trillion aid package, a strong pressure did not form on the US dollar yesterday. After rising to the major resistance of 1.0884, which I have repeatedly paid attention to, the bears returned to the market, which is clearly visible on the 5-minute chart. This led to increased pressure on the euro and a decline under the resistance level of 1.0817, which is now the main headache for buyers. Only its breakout will lead to the repeated growth of EUR/USD to the highs of 1.0884 and 1.0930, where I recommend taking profits. The longer-term goal of the bulls will be the 1.0975 area. In case the euro declines further in the first half of the day, it is best to return to long positions on a false breakout from the support of 1.0727, or buy immediately on the rebound from the year's low in 1.0636, based on a rebound of 60-70 points within the day.

analytics5e7aed23eb696.jpg

To open short positions on EURUSD you need:

Nothing has changed much for the sellers. They need to protect the resistance of 1.0817, where the formation of a false breakout will be an additional signal to open short positions. However, much will depend on what kind of reports on the index of business activity in Germany from the IFO Institute come out. If the data turn out to be far worse than economists' forecasts, the bears will quickly return EUR/USD to support 1.0727, consolidating below which will pull down the pair to the lows of the year 1.0636, where I recommend taking profits. More persistent sellers will wait for 1.0572 and 1.0549 to be updated. If the demand for the euro continues after the breakout of the resistance level of 1.0826, then, as yesterday, it is best to postpone sales to the test highs of 1.0884 and 1.0930, from where you can count on a rebound of 60-70 points within the day.

analytics5e7aed3839ef1.jpg

Signals of indicators:

Moving averages

Trading is carried out in the region of 30 and 50 moving average, which indicates the attenuation of the upward correction.

Bollinger bands

Growth will be limited by the upper level of the indicator at 1.0880. In case the euro declines further, the lower boundary of the indicator in the 1.0735 area will provide support.

Description of indicators

  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
  • MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
  • Bollinger Bands (Bollinger Bands). Period 20
The material has been provided by InstaForex Company - www.instaforex.com

Overview of the EUR/USD pair. March 25. Donald Trump praises the Fed and Powell and is going to open up the country in economic

4-hour timeframe

analytics5e7aa8f020079.jpg

Technical details:

Higher linear regression channel: direction - downward.

Lower linear regression channel: direction - downward.

Moving average (20; smoothed) - downward.

CCI: -33.4152

The second trading day of the week ended with the development of the moving average line and an unsuccessful attempt to overcome it. Thus, two trading strategies signal the development of "correction" lines at once - Ichimoku and "linear regression channels". In the first case, it is the Kijun-sen line, and in the second - the moving line. From both lines, the price can be said to have rebounded, so we will not be surprised if the downward movement is resumed today or tomorrow. Moreover, macroeconomic statistics continue to have a very weak impact on the currency market and on traders. Yesterday, we can say that the euro currency received some support due to more or less remaining afloat indicators of business activity in the manufacturing sectors of Europe and the European Union as a whole. But in general, macroeconomic statistics in the EU failed. It also failed over the ocean. And along with it, the attempts of Donald Trump and Steven Mnuchin to push through Congress a 1.6 trillion package of aid to the US economy. Thus, we continue to believe that increased attention should be paid to technical factors, high-profile events, and news related to the global epidemic and its control. The most important thing that we would like to note now is a slight recovery in the US stock indices against the backdrop of all the measures taken by the US government and the Fed, as well as stopping the fall in oil prices. There were hopes at least that in the near future there will be no new collapses in the US stock markets and the commodity market. Asian stock indices began to recover on the back of positive results in the fight against the "coronavirus". If the United States and the European Union also manage to contain the spread of infection, then in a month or two, we will be able to declare the recovery of economies in these regions as well.

analytics5e7aa9091b4f9.jpg

The situation with macroeconomic statistics is generally difficult. We are well aware that there is no reaction from traders to it. At the same time, we cannot ignore important reports. For example, orders for durable goods for the month of February will be published in the United States today. Forecasts for all four variations of the indicator predict a serious reduction compared to January. Again, the question is: will there be a reaction to these reports? After all, orders for expensive goods for February have a certain relation to March, when the epidemic gained momentum. Thus, the decline in indicators may be related to the "coronavirus" epidemic. Accordingly, this important report may still be a little to reassure market participants that the US dollar is invincible, and the economy of the United States - steadfast. As the latest actions and statements of the government, the Fed, Donald Trump personally, as well as representatives of the health sector, show what is happening now across the ocean - just flowers. All the worst is ahead. Thus, investors have already stopped completely mindless purchases of the US currency in recent days, and with each successive failed report from overseas, their desire to buy the dollar may become even less. And the euro currency in this situation, in fact, has nothing to lose. Given how much the euro has fallen in price, any macroeconomic statistics from the eurozone can not create additional pressure on this currency. But let's go back to the data on orders for durable goods in the United States. It is expected that the main indicator will lose 0.7-0.8% m/m by the end of February, which is not so much.

analytics5e7aa91981349.jpg

The indicator excluding defense orders is forecast to decline by 0.9-2.7% m/m, which, in principle, is not even surprising, after an overly successful January, in which an increase of 3.6% was recorded.

analytics5e7aa92a075ff.jpg

And excluding transport orders - with a decrease of 0.3-0.4% m/m, which is also normal after a 0.9% increase in January.

analytics5e7aa9890b968.jpg

As for the "coronavirus" pandemic, the number of people infected in the United States has already grown to 47,000. Almost 600 deaths were recorded. US President Donald Trump expressed hope that the Democrats and Republicans will be able to agree on the adoption of a package of aid measures for almost $2 trillion. "The virus has a negative impact on our country. We are going to take a number of incentives to ensure that workers live their lives. It's not their fault. We want to take care of small businesses. I hope the Republicans and Democrats will come to an agreement," Trump said, ignoring the question of why this package of measures is needed at all if the US plans to end the quarantine and reopen the borders within a few weeks? Also, the US President for the first time in the years of his presidency praised the head of the Federal Reserve, Jerome Powell. "I am happy with the Fed, it's doing the right thing. I told him - Jerome, great job. I'm proud of him," Trump said.

From a technical point of view, everything will depend on how the price and traders behave around the moving average line. If this line is successfully crossed, the euro currency may receive additional support and continue to recover. And there, in the near future, perhaps, the markets will return to normal, volatility will decrease and the macroeconomic background will again matter. However, it is too early to draw such conclusions. The Heiken Ashi indicator is already showing signs of a downward turn, and the development of the moving was not just working out, it ended with a rebound. Thus, we would say that if the downward trend does not resume at this time, the beginning of the upward trend is definitely postponed.

analytics5e7aa99d7688a.jpg

The average volatility of the euro/dollar currency pair remains at record high values but still began to lose growth rates. At the moment, the average value for the last 5 days is 223 points and is decreasing. The last three days have not been as volatile as the previous ones. On Wednesday, March 25, we expect a further decrease in volatility and movement within the channel, limited to the levels of 1.0531 and 1.0977.

Nearest support levels:

S1 - 1.0742

S2 - 1.0620

S3 - 1.0498

Nearest resistance levels:

R1 - 1.0864

R2 - 1.0986

R3 - 1.1108

Trading recommendations:

The euro/dollar pair has completed an upward correction and is ready to resume its downward movement. Thus, traders are still recommended to sell the euro currency with the targets of 1.0620 and 1.0531 after the reversal of the Heiken Ashi indicator down (2 bars of blue color). It is recommended to buy the EUR/USD pair not before fixing the price above the moving average line with the first target of the Murray level of "2/8"-1.0986. When opening any positions, we recommend increased caution, since the market is still in a state of panic.

Explanation of the illustrations:

The highest linear regression channel is the blue unidirectional lines.

The lowest linear regression channel is the purple unidirectional lines.

CCI - blue line in the indicator window.

Moving average (20; smoothed) - blue line on the price chart.

Murray levels - multi-colored horizontal stripes.

Heiken Ashi is an indicator that colors bars in blue or purple.

Possible variants of the price movement:

Red and green arrows.

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

NZD/USD now testing long term descending trendline resistance

analytics5e7ad9f9dcd46.jpg

Trading Recommendation

Entry: 0.58483

Reason for Entry: 61.8% Fibonacci extension, long term descending trendline resistance, long term moving average resistance

Take Profit : 0.55750

Reason for Take Profit: 78.6% Fibonacci retracement, 100% Fibonacci extension

Stop Loss: 0.61187

Reason for Stop loss: Graphical swing high

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

GBP/USD approaching resistance, potential drop!

analytics5e7ad9681fb50.jpg

Trading Recommendation

Entry: 1.18908

Reason for Entry: Horizontal swing high resistance, 23.6% Fibonacci retracement, 100% Fibonacci extension

Take Profit : 1.14128

Reason for Take Profit: Horizontal swing low support

Stop Loss: 1.21258

Reason for Stop loss: Horizontal swing high resistance, 38.2% Fibonacci retracement, 10% fibonacci extension

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

Forecast for EUR/USD on March 25, 2020

EUR/USD

The euro worked out the first target correction level of 1.0879 on Tuesday, determined by the low of October 2019. Overcoming the level did not happen, today it is possible to repeat such an attempt, or to continue pulling down the price to support the embedded line of the price channel in the region of 1.0636. The success of the euro in overcoming resistance will allow it to continue to grow to the second correction target 1.0967 - to the point of coincidence of three lines: the Fibonacci level of 38.2%, the embedded line of the price channel, the MACD line, which aims at this point.

analytics5e7ad5b019f42.jpg

On a four-hour chart, the price at 1.0879 was also met by the resistance of the balance line indicator. The Marlin oscillator began to decline, the probability of the price moving to the lower target of 1.0636 is 60%.

analytics5e7ad5c30a27e.jpg

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

Forecast for AUD/USD on March 25, 2020

AUD/USD

The Australian dollar grew by 145 points on Tuesday, since it worked the correction level of 38.2% of the movement on March 9-19. There are no strong reversal signs, growth to the second correction target by Fibonacci level of 50.0% at the price of 0.6095 is possible.

analytics5e7ad37fb4d0d.jpg

On the four-hour chart, the price has consolidated above the MACD line (blue indicator), which shows the price's intention to continue rising to the next Fibonacci level of 50.0% at the price of 0.6095. The signal line of the Marlin oscillator lies in the lateral direction, which indicates the imminent completion of growth, that is, above 50%, the correction will no longer work.

analytics5e7ad393caed6.jpg

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

Forecast for USD/JPY on March 25, 2020

USD/JPY

Yesterday, the USD/JPY pair once again tried to work out the resistance of the embedded line of the price channel at 111.98. The attempt failed, and today the technical pressure on the pair has become even greater, so the reversal may take place today. The signal line of the Marlin Oscillator is moving down on the daily chart, which shows the technical pressure. The first goal of the decline is the MACD line at the price of 109.25, overcoming the support opens the target range of 107.02/85 - the range of two embedded lines of the downward price channel.

analytics5e7ad28fe4838.jpg

After a double complex divergence forms on the Marlin oscillator on the four-hour chart, its signal line has penetrated into the negative trend zone. We are waiting for the development of a new downward movement.

analytics5e7ad2a36046f.jpg

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

Comprehensive analysis of movement options for #USDX vs Gold & Silver (DAILY) on March 25, 2020

Continuing the battle for metal with US dollars - here's a comprehensive analysis of movement options for #USDX vs Gold & Silver (DAILY) on March 25, 2020

Minor operational scale (daily time frame)

____________________

US dollar index

The movement of the USDX index from March 25, 2020 will continue depending on the direction of the breakdown of the range:

  • resistance level of 101.65 - ultimate Shiff Line of the Minor operational scale forks;
  • support level of 100.95 - the upper boundary of the ISL61.8 equilibrium zone of the Minor operational scale forks.

In case of breakdown at the upper boundary ISL61.8 (support level of 100.95) of the equilibrium zone of the Minor operational scale forks, the development of the movement of the dollar index will continue within the boundaries of the equilibrium zones of the Minor operational scale forks (100.95 - 99.85 - 98.75) and Minuette (99.20 - 98.00 - 96.75).

On the contrary, in the event of a breakdown of the final Schiff Line (resistance level of 101.65) of the Minor operational scale forks, it will lead to the option to resume the development of the upward movement #USDX to the goals:

- initial SSL line (102.65) of the Minuette operational scale forks;

- maximum 102.99;

- control line UTL Minuette (104.10);

- Starting line SSL Minor (104.85).

The markup of the #USDX movement options on March 25, 2020 is shown on the animated chart.

analytics5e7a37df0534a.jpg

____________________

Spot silver

The development of Spot Silver movement options from March 25, 2020 will be determined by developing the boundaries of the 1/2 Median Line channel (13.550 - 14.110 - 14.710) of the Minuette operational scale forks. The marking out the processing of these levels is presented on the animated chart.

In case of breakdown of the upper boundary (resistance level of 14.710) of the 1/2 Median Line Minuette channel, the further development of Spot Silver movement within the boundaries of the equilibrium zones of pitchforks of operational scales Minuette (14.110 - 14.950 - 15.650 ) and Minor (14.400 - 15.210 - 16.050) will be confirmed.

Alternatively, in case of breakdown of the lower boundary (support level of 13.550) of the 1/2 Median line Minuette channel, it will lead to the option to resume the downward movement of Spot Silver to the targets:

- final line FSL (11.700) of the Minor operational scale forks;

- SSL start line (11.350) of the Minuette operational scale forks;

- control line LTL Minuette (10.750).

The details of the Spot Silver movement options from March 25, 2020 are shown on the animated chart.

analytics5e7a37feb79dd.jpg

____________________

Spot gold

The development of the Spot Gold movement from March 25, 2020 will be determined by the development and direction of the breakdown of the boundaries of the equilibrium zone (1565.00 - 1595.00 - 1630.00) of the Minuette operational scale forks. The details of the development of the indicated levels are presented on the animated chart.

In case of breakdown of the resistance level 1630.00 at the upper boundary ISL61.8 of the equilibrium zone of the Minuette operational scale forks, Spot Gold will continue its upward movement to the initial SSL line (1702.80) of the Minor operational scale forks.

Meanwhile, the breakdown of the support level of 15280 on the lower boundary of the a Median Line channel of the Minor operational scale forks will determine the further development of the Spot Gold movement in the equilibrium zone (1528.00 - 1475.00 - 1419.00) of the Minor operational scale forks.

The details of the Spot Gold movement from March 25, 2020 can be seen on the animated chart.

analytics5e7a3817c93e7.jpg

____________________

The review is made without taking into account the news background. Thus, the opening of trading sessions of major financial centers does not serve as a guide to action (placing orders "sell" or "buy").

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