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.

01.08.2012

Forex Technical Analysis 2012/02/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving inside the descending channel, the price is still testing the area of 1.23. One can consider selling Euro from the current levels, the closest target of the fall is the area of 1.2220. The final target of the descending pattern is the area of 1.1980. If the price grows up higher than 1.24, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the level of 1.2220.
31.07.2012

Forex Technical Analysis 2012/01/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair is moving according to our expectations, it has tested the area of 1.23. At the moment the price is expected to continue falling down. One can consider selling Euro with the tight stop above 1.2340 and increase the amount of sales after the price breaks the level of 1.2215. The closest target of the fall is the area of 1.2080. The target of the descending pattern is the area of 1.1980. If the price grows up higher than 1.2410, this scenario will be cancelled.
30.07.2012

Forex Technical Analysis 2012/31/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving inside the descending channel, it has tested a very strong resistance level in the area of 1.24. At the moment we should expect the price to continue moving downwards, the target of the fall is the area of 1.1980. One can consider selling Euro aggressively from the current levels with the stop above 1.2340 and increase the amount of sales only after the price breaks the level of 1.2230. If the price grows up higher than 1.2410, this scenario will be cancelled.
27.07.2012

Forex Technical Analysis 2012/30/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, USD/CAD) Forecast FX

The EUR/USD currency pair is still being corrected. The price is forming the ascending symmetrical pattern with the target at the level of 1.2405, one can consider buying the pair from the current levels with the tight stop. If the price falls down lower than 1.2225, this scenario will be cancelled. The test of the trend’s ascending line at the RSI is an additional signal to buy Euro.
26.07.2012

Forex Technical Analysis 2012/27/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair is being corrected. The price has tested the area of 1.2285 and continues moving inside the descending channel. One can consider selling Euro aggressively from the current levels. The target of the fall is still the area of 1.2020. If the price grows up higher than 1.2330, this scenario will be cancelled. We recommend to increase the amount of sales only after the price breaks the level of 1.2105.
23.07.2012

Forex Technical Analysis 2012/24/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair is moving according to the forecast, it has reached the target area of 1.2080. At the moment we should expect the price to be corrected to the level of 1.2150, where one can consider Euro with the tight stop. The target of the fall is the area of 1.2030. If the price grows up higher than 1.2175, this scenario will be cancelled. The test of the trend’s descending line at the RSI is an additional signal to sell the pair.
19.07.2012

Forex Technical Analysis 2012/20/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair is moving inside the descending channel, but at the moment the price is growing up. A very strong resistance level is the area of 1.2350, where one can consider selling the pair with the stop above 1.2385. The target of the pattern is the area of 1.2080. Right now one is advised either to stay out of the market or try to buy the pair aggressively up to the level of 1.2350.
18.07.2012

Forex Technical Analysis 2012/19/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair is moving according to the forecast, we should expect it to continue falling down. At the H1 chart of the pair the price is forming the descending pattern, one can consider selling Euro aggressively from the current levels with the stop above 1.2310. The closest target of the fall is the area of 1.2060. We recommend to increase the amount of short positions only after the price breaks the level of 1.2180. If the price grows up higher than 1.2320, this scenario will be cancelled.