Technical analysis and forecasts

Currencies are believed to move in cycles, which means that one may try to estimate and predict their future fluctuations. Technical analysis helps to look into behavior of currency pairs on the basis of traded value, movement direction, investors’ common interests, and fluctuations history.

Technical analysis offers a trader a range of patterns that can predict price movement. Some of them predict a price reversal in one direction or another, others - a repetition of changes. To make it easier to use technical analysis, there is a number of indicators that include several parameters from the price chart. So, both experienced and novice traders can resort to technical analysis - it is believed that both of them should be familiar with the basics of technical analysis. It should be noted that forecasts made based on technical analysis cannot be considered 100% accurate, but they can still make trading more efficient. This page presents conclusions and forecasts made by RoboForex experts based on tech analysis.

21.08.2012

Forex Technical Analysis 2012/22/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving according to the forecast, by now the price has breached the resistance level in the area of 1.24. We should expect the test of this area and consider opening new long positions. Aggressive traders are advised to buy Euro from the current levels. The target of the growth is the area of 1.2535. If the price falls down lower than 1.2285, this scenario will be cancelled.
20.08.2012

Forex Technical Analysis 2012/21/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving inside the ascending pattern, the price hasn’t been able to breach the resistance level in the area of 1.24. Currently the pair is testing the ascending channel’s lower border, one can consider buying Euro with the tight stop below 1.2240. The target of the growth is the area of 1.2535. The test of the trend’s ascending line at the RSI is an additional signal of the growth. We recommend to increase the amount of long positions only after the price breaks the level of 1.24.
17.08.2012

Forex Technical Analysis 2012/20/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving inside the ascending channel. The price has got very close to the resistance level in the area of 1.24, it may breach the level and start growing up. The target of the growth is the area of 1.2535. One can consider buying Euro from the current levels. If the price falls down lower than 1.2240, this scenario will be cancelled. We recommend to increase the amount of long positions only after the price breaks the level of 1.2395.
16.08.2012

Forex Technical Analysis 2012/17/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving inside the ascending channel. The RSI indicator was supported by the trend’s ascending line. At the moment the price is rebounding in an upward direction and may continue growing up and form the ascending pattern. The target of the growth is the area of 1.2535, one can consider buying Euro with the tight stop. If the price falls down lower than 1.2240, this scenario will be cancelled. We recommend to increase the amount of long positions only after the price breaks the level of 1.24.
15.08.2012

Forex Technical Analysis 2012/16/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving inside the ascending channel. Although the price is falling down at the moment, there is still a possibility that it may grow up. At the moment Euro is testing the ascending pattern’s lower border, we should expect the price to rebound from the current levels and start moving upwards. The test of the trend’s ascending line at the RSI is an additional signal to buy the pair. We recommend to increase the amount of long positions only after the price breaks the level of 1.2390. If the price falls down lower than 1.2210, this scenario will be cancelled and Euro will continue moving downwards.
14.08.2012

Forex Technical Analysis 2012/15/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving according to the forecast, the price has left the descending channel. One can consider buying Euro with the tight stop. The target of the ascending pattern is the area of 1.2535. If the price falls down lower than 1.2230, this scenario will be cancelled. A very strong resistance level is in the area of 1.2450. We recommend to increase the amount of long positions only after the price breaks the level of 1.24.
13.08.2012

Forex Technical Analysis 2012/14/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair is moving inside the ascending channel. At the H4 chart the price is forming also forming the ascending pattern, the final target of the growth is the area of 1.2530. One can consider buying Euro aggressively from the current levels and increase the amount of long positions only after the price breaks the level of 1.24. If the pair falls down lower than 1.2220, this scenario will be cancelled and the price may continue falling down towards the area of 1.20.
02.08.2012

Forex Technical Analysis 2012/03/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving inside the descending channel, at the moment the price is forming the descending pattern at the H1 chart. The closest target of the fall is the area of 1.2170. One can consider selling Euro from the current levels with the stop above 1.2360 and increase the amount of short positions only after the price breaks the level of 1.2215. The test of the trend’s descending line at the RSI is an additional signal to sell Euro. If the price grows up higher than 1.24, it will be the first sign of a possible correction.