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.

10.07.2012

Forex Technical Analysis 2012/11/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, USD/CAD) Forecast FX

The EUR/USD is moving inside the descending channel and there is still a possibility that it may continue falling down. The final target of the pattern is the area of 1.20. One can consider selling the pair from the current levels with the tight stop above 1.2365 and increase the amount of short positions only after the price breaks the level of 1.2250. If Euro grows up higher than 1.2370, we should expect it to continue moving upwards.
09.07.2012

Forex Technical Analysis 2012/10/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, USD/CAD) Forecast FX

The EUR/USD currency pair continues moving downwards according to the forecast. The price has tested the area of 1.2255 and right now is forming the descending pattern with the target in the area of 1.21. One can consider selling Euro near the level of 1.2330 and increase the amount of sales only after the price breaks the level of 1.2255. If the price grows up higher than 1.2380, this scenario will be cancelled.
06.07.2012

Forex Technical Analysis 2012/09/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair is moving according to the forecast, at the moment we should expect the price to continue falling down. The closest target of the fall is the area of 1.22. One can consider selling Euro from the current levels with the tight stop. If the price grows up higher than 1.2445, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the level of 1.2340.
05.07.2012

Forex Technical Analysis 2012/06/07 (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 already reached the first target at the level of 1.2540. At the moment we should expect the price to continue moving downwards into the area of 1.24. Judging by the structure of the daily chart we may assume that in the nearest future the pair may fall down towards the level of 1.21. Currently we can recommend to sell Euro from the level of 1.25 with the stop above 1.2545 and increase the amount of long-term sales after the price breaks the level of 1.24. If the price grows up higher than 1.27, the scenario, which implies that the price may fall down into the area of 1.21, will be cancelled.
04.07.2012

Forex Technical Analysis 2012/05/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD, USD/CAD) Forecast FX

The EUR/USD currency pair continues moving inside a narrow trading range, the price hasn’t been able to grow up higher than 1.2635. Currently the pair is still expected to move downwards into the area of 1.2540. The target of the descending pattern at the H4 chart is the area of 1.24. If Euro grows up higher than 1.2715, this scenario will be cancelled. One can consider selling the pair from the current levels.
03.07.2012

Forex Technical Analysis 2012/04/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving according to our forecast, the market situation hasn’t changed much over the last 24 hours. There is still a possibility that Euro may continue falling down. However, if the price grows up higher than 1.2755, this scenario will be cancelled. At the daily chart the price is forming the descending pattern, the closest target of the fall is the area of 1.2540. One can consider selling Euro from the current levels with the stop above 1.2635.
02.07.2012

Forex Technical Analysis 2012/03/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, USD/JPY) Forecast FX

The EUR/USD currency pair continues moving inside the descending channel, the target of the fall is the area of 1.2090. At the moment at the daily chart the price is forming “head & shoulders” pattern, which, in this case, is a continuation pattern. One can consider selling the pair after the price breaks the level of 1.24, however, aggressive traders can try to sell Euro from the current levels. If the price grows up higher than 1.2750, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the level of 1.25. The test of the resistance level at the RSI is an additional signal to sell Euro.
28.06.2012

Forex Technical Analysis 2012/29/06 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD) Forecast FX

The EUR/USD currency pair has almost reached the target defined earlier, the price continues moving downwards. Currently the closest target of the fall is the area of 1.2325. One can consider selling Euro from the current levels with the stop above 1.2520. Judging by the structure of the H1 chart, we can say that there is a possibility that Euro may fall down into the area of 1.21. If the price breaks the level of 1.23, Euro will continue moving downwards.