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.

06.04.2012

Forex Technical Analysis 2012/09/04 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, EUR/GBP, EUR/JPY) Forecast FX

The situation hasn’t changed much since yesterday, as the EUR/USD currency pair continues moving inside a very narrow trading range. Currently there is a possibility that the price may fall down into the area of 1.2980. The pair is testing the descending channel’s upper border. If the price breaks the level of 1.3030, one can consider selling Euro. However, one can try to buy the pair aggressively after the price leaves the descending channel.
05.04.2012

Forex Technical Analysis 2012/06/04 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD) Forecast FX

The EUR/USD currency pair reached all the targets of the descending pattern. At the moment we should expect the price to be corrected into the area of 1.3195, where it may start growing up again. If Euro breaks the descending channel’s upper border, we can expect the price to test the area of 1.3315. Right now one can consider buying the pair with the tight stop. The test of the trend’s ascending line at the RSI is an additional signal for the correction. If the price breaks the level of 1.2985, the pair will start a new descending trend.
04.04.2012

Forex Technical Analysis 2012/05/04 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, USD/CAD) Forecast FX

The EUR/USD currency pair broke “triangle” pattern downwards. Currently the price is completing the pattern, the target of which is in the area of 1.3120. At the H1 chart of the pair we can see the formation of a descending pattern with the target at the level of 1.31. We should expect the pair to be corrected to the level of 1.32, where one can consider selling it. The test of the trend’s ascending line at the RSI is an additional signal for the correction. Judging by the price structure of Euro, we can’t exclude a possibility that it may start growing up from the current levels into the area of 1.33, and then continue falling down.
03.04.2012

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

The EUR/USD currency pair continues moving according to our forecast. The price is forming “triangle” pattern and currently testing the pattern’s lower border. One can consider buying Euro with the tight stop and increase the amount of purchases only after the price breaks the level of 1.3385. The target of “triangle” pattern is the area of 1.3515. If the pair falls down lower than 1.3265, this case scenario will be cancelled.
02.04.2012

Forex Technical Analysis 2012/03/04 (EUR/USD, GBP/USD, USD/CHF, AUD/USD) Forecast FX

The EUR/USD currency pair continues moving inside an ascending pattern with the target in the area of 1.3515. The RSI indicator was supported by the trend’s ascending line, we should expect it to rebound from the current levels. Aggressive traders are advised to try to buy the pair with the tight stop from the current levels. Conservative traders are advised to consider buying the pair only after the price breaks the level of 1.3395. If Euro falls down lower than 1.3290, this case scenario will be cancelled.
30.03.2012

Forex Technical Analysis 2012/02/04 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, AUD/USD) Forecast FX

The EUR/USD currency pair is moving according to our forecast. The price rebounded from the defined levels and currently we should expect Euro to continue growing up. The target of the ascending pattern is the area of 1.35. If the correction starts, one can consider buying the pair near the level of 1.3310, and increase the amount of long positions only after the price breaks the level of 1.3375. The price may reach the level of 1.35 approximately on Tuesday next week. If Euro falls down much lower than 1.3230, this case scenario will be cancelled.
29.03.2012

Forex Technical Analysis 2012/30/03 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, AUD/USD) Forecast FX

The EUR/USD currency pair is being corrected, currently the price is testing a strong support level, 1.3285, which is near the ascending channel’s lower border. One can consider buying Euro with the tight stop. The target of the growth is the area of 1.3510. The test of the trend’s ascending line at the RSI is an additional signal to buy the pair. The correction may be finished by 6 a.m. March 30th, and then the price may start growing up. At shorter time frames the pair has also reached all the targets of the descending correction. We recommend you to increase the amount of purchases only after the price breaks the level of 1.3320. If the pair breaks the channel’s lower border and falls down lower than 1.3220, this case scenario will be cancelled.
28.03.2012

Forex Technical Analysis 2012/29/03 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, USD/CAD) Forecast FX

The EUR/USD continues testing local maximums, the correction that took place yesterday and today wasn’t very deep. At the moment the price is forming an ascending pattern at the H1 chart of the pair, one can consider buying Euro with the tight stop. The closest target of the growth is the area of 1.3445. If the pair falls lower than 1.3310, this case scenario will be cancelled. The area of 1.3285 is a strong support level.