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.

18.04.2012

Forex Technical Analysis 2012/19/04 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD) Forecast FX

The EUR/USD currency pair didn’t start moving in an upward direction, currently the price is falling down, however, there is still a possibility that Euro may grow up. We should expect the price to test the area of 1.3045, where one can consider buying Euro with the tight stop. The closest target of the growth is the area of 1.3175, and after the pair breaks it, the pair may continue growing up towards the level of 1.3355. If the price falls down lower than 1.2990, this case scenario will be cancelled.
17.04.2012

Forex Technical Analysis 2012/18/04 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD) Forecast FX

The EUR/USD currency pair broke the level of 1.3050, and then tested the area of 1.3170. At the moment the price is testing the descending channel’s broken border, one can consider buying Euro from the current levels. The stop must be placed below 1.3080, the target of the growth is the area of 1.3285. We recommend to increase the amount of long positions only after the price breaks the level of 1.3175. If the pair falls down lower than 1.3050, this case scenario will be cancelled.
16.04.2012

Forex Technical Analysis 2012/17/04 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD) Forecast FX

The EUR/USD currency pair made a strong descending movement and broke the level of 1.3030. At shorter time frames the price is forming a descending pattern with the target in the area of 1.2945, one can consider selling the pair aggressively with the tight stop. If the price grows up higher than 1.3050, this case scenario will be cancelled. We shouldn’t expect the pair to fall down much from the current levels. At the H4 chart the RSI indicator got very close to the support level, that’s why one can consider buying Euro right after the price breaks the level of 1.3050.
13.04.2012

Forex Technical Analysis 2012/16/04 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, USD/RUR) Forecast FX

The EUR/USD currency pair continues moving inside the ascending channel, the closest target of the growth is the area of 1.3275. The RSI indicator was supported by the trend’s ascending line, we should expect a rebound and the start of the ascending movement. One can consider buying the pair from the current levels. If the price falls down lower than 1.3120, this case scenario will be cancelled.
12.04.2012

Forex Technical Analysis 2012/13/04 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD, USD/CAD) Forecast FX

The EUR/USD currency pair is moving according to the forecast. Judging by the price structure we should expect the pair to grow up into the area of 1.3275. One can consider buying Euro near the level of 1.3120. The test of the trend’s ascending line at the RSI is an additional signal to buy the pair. If the price falls down lower than 1.3075, this case scenario will be cancelled.
11.04.2012

Forex Technical Analysis 2012/12/04 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD, GBP/JPY) Forecast FX

The EUR/USD currency pair continues moving according to our forecast, and by now it has left the descending channel. One can consider buying Euro with the tight stop, the target of the growth is the area of 1.3205. If the price breaks this level, the pair will continue growing up into the area of 1.3315. But is the price falls down lower than 1.3030, this case scenario will be cancelled.
10.04.2012

Forex Technical Analysis 2012/11/04 (EUR/USD, DOLLAR INDEX, GBP/USD, USD/CHF, NZD/USD, AUD/USD) Forecast FX

The EUR/USD currency pair is moving according to the forecast. The price has reached the area of 1.3150 and right now it is moving downwards. We should expect the price to test the level of 1.3030, where one can consider buying Euro aggressively. The closest target of the growth in this case is the area of 1.32. Conservative traders are advised to start buying the pair after the price breaks the channel’s upper border. If Euro falls down lower than 1.30, this case scenario will be cancelled.
09.04.2012

Forex Technical Analysis 2012/10/04 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, GOLD) Forecast FX

The EUR/USD continues moving inside the descending channel. The price was supported by a very strong support level, we should expect it to rebound from the current levels and start moving upwards. The closest target of the growth is the area of 1.3150. If the price breaks the channel’s lower border, we should expect the pair to continue growing up into the area of 1.3270. Also, we can’t exclude a possibility that the price may test the level of 1.3030, where one can consider buying Euro aggressively. If the pair falls down lower than 1.30, this case scenario will be cancelled.