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.

20.06.2012

Forex Technical Analysis 2012/21/06 (EUR/USD, GBP/USD, USD/CHF, NZD/USD) Forecast FX

The EUR/USD currency pair is still moving inside the ascending channel, we should expect Euro to continue growing up. The target of the pattern is the area of 1.29. One can consider selling the pair from the current levels. If the price breaks the channel’s lower border, this scenario will be cancelled.
19.06.2012

Forex Technical Analysis 2012/20/06 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving inside the ascending channel, the closest target of the growth is the area of 1.2745. One can consider buying Euro with the tight stop. The target of the ascending pattern is the area of 1.29. At the daily chart the RSI indicator has tested the trend’s broken line, which also indicates that Euro may continue growing up. If the price falls down lower than 1.25, this scenario will be cancelled.
18.06.2012

Forex Technical Analysis 2012/19/06 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

The EUR/USD currency pair continues growing up. The RSI indicator has already broken the trend’s descending line, we should expect the price to test the broken line and move upwards into the area of 1.3050. Overall, the pair is forming the ascending pattern with the target in the area of 1.29. At the H4 chart the RSI indicator is testing the trend’s ascending line. We should expect Euro to start growing up from the current levels into the area of 1.2780. From here the price may start the correction towards the ascending channel’s lower border in the area of 1.26 and then continue moving upwards. If the price falls down lower than 1.26 and breaks the channel’s lower border, this scenario will be cancelled.
15.06.2012

Forex Technical Analysis 2012/18/06 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, GBP/JPY) Forecast FX

The EUR/USD currency pair continues forming the reversal pattern; the price has tested the critical level, but hasn’t been able to break the maximum in the area of 1.2680. At the moment one can consider selling Euro with the tight stop, the pair is still moving downwards. We recommend to increase the amount of short positions only after the price breaks the level of 1.2440. If Euro grows up higher than 1.2670, this scenario will be cancelled.
14.06.2012

Forex Technical Analysis 2012/15/06 (EUR/USD, GBP/USD, USD/CHF, AUD/USD) Forecast FX

The EUR/USD currency pair is moving according to the forecast, currently there is a possibility that the price may start falling down. At the daily chart the RSI indicator faced the resistance from the trend’s descending line, we should expect a rebound from the current levels. At the H4 chart we have “head & shoulders” reversal pattern forming with the target in the area of 1.22. One can consider selling Euro aggressively from the current levels with the stop above 1.2640 and increase the amount of short positions only after the price breaks the level of 1.2430. If Euro grows up higher than 1.2670, this scenario will be cancelled.
13.06.2012

Forex Technical Analysis 2012/14/06 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, NZD/USD) Forecast FX

The EUR/USD currency pair continues moving inside the ascending channel, the closest target of the growth is the area of 1.2650. One can consider buying Euro with the tight stop from the current levels. At shorter time frames we can see that the price has formed “upside down head & shoulders” reversal pattern. The final target of the growth is the area of 1.2810. If Euro falls down lower than 1.2450, this scenario will be cancelled. We recommend to increase the amount of long positions only after the price breaks the level of 1.2565.
12.06.2012

Forex Technical Analysis 2012/13/06 (EUR/USD, GBP/USD, USD/CHF, USD/CAD) Forecast FX

The EUR/USD currency pair continues moving inside the ascending channel. The RSI indicator was supported by the channel’s lower border, we should expect it start moving upwards. One can consider buying the pair with the tight stop. If the price falls down lower than 1.2470, this scenario will be cancelled.
11.06.2012

Forex Technical Analysis 2012/12/06 (EUR/USD, GBP/USD, USD/CHF, USD/CAD) Forecast FX

We may assume that the price is forming the first signs of a trend reverse. At the daily chart at the RSI the trend’s descending line has been broken, we should expect the test of the similar trend line at the price chart. One can consider buying Euro at shorter time frames.