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.
14.03.2012
Forex Technical Analysis 2012/15/03 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, EUR/JPY) Forecast FX
The EUR/USD currency pair reached a new minimum. Currently the price is forming a descending pattern at shorter time frames, the target of the fall is the area of 1.2955. One can consider selling the pair near the descending channel’s upper border in the area of 1.3080. The stop in this case must be placed above 1.3110.
13.03.2012
Forex Technical Analysis 2012/14/03 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, EUR/JPY) Forecast FX
After a slight correction, the EUR/USD currency pair is testing local minimums again. The RSI indicator is still inside a support area, we shouldn’t expect the price to make a significant descending movement from the current levels. If the pair is going to start moving downwards, the correction must be much deeper. Aggressive traders are recommended to try to buy the pair with the tight stop. If the price breaks the level of 1.3065, the target of the fall will be the area of 1.2880.
12.03.2012
Forex Technical Analysis 2012/13/03 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, SILVER) Forecast FX
The EUR/USD currency pair continues testing the critical level of 1.31. Right now we can’t say for sure that the price is moving inside the descending trend. The RSI indicator was supported by the trend’s ascending line, we should expect a rebound from the current levels. One can consider buying Euro after the price breaks the level of 1.3150. The closest target is the test of the level of 1.3280.
09.03.2012
Forex Technical Analysis 2012/12/03 (EUR/USD, GBP/USD, USD/CHF, NZD/USD) Forecast FX
The EUR/USD currency pair rebounded from the ascending channel’s lower border, we should expect Euro to continue growing up. At the moment the price is testing the area for purchases, one can consider opening long positions with the tight stop. The closest target of the growth is the area of 1.3400, the next one - 1.3625. If the price reaches a new local minimum at the level of 1.3090, this case scenario will be cancelled.
07.03.2012
Forex Technical Analysis 2012/08/03 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, EUR/GBP) Forecast FX
The EUR/USD currency pair reached a new local minimum. The price broke the ascending channel’s lower border, but this movement didn’t seem to be strong. Our expectations remain the same, we should expect the pair to grow up. In order to consider buying the pair, one is recommended to wait until the price breaks the level of 1.32. The closest target of the growth is the level of 1.3640. If the pair falls down into the area of 1.3040, the current trend will change and the formation of the ascending pattern will be cancelled.
06.03.2012
Forex Technical Analysis 2012/07/03 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, NZD/USD) Forecast FX
The EUR/USD currency pair moved upwards a little bit and reached new local maximum. Currently the price is testing the area for purchases, which is close to the ascending channel’s lower border. One can try to buy Euro with the tight stop. Also, there is a possibility that the pair may grow into the area of 1.38. However, if the price leaves the channel, we will change our forecast in favor of the fall. Conservative traders are advised to wait for the price to break the level of 1.3205, and only then try to buy the pair.
05.03.2012
Forex Technical Analysis 2012/06/03 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX
The EUR/USD currency pair continues moving inside the ascending channel. By now the price has got very close to the channel’s lower border, we should expect Euro to start growing up from the current levels. In the worst case scenario the pair may test the level of 1.3140, where one can consider buying the pair with the tight stop. The closest target of the growth is the area of 1.3450. After that, we can expect Euro to be corrected to the level of 1.3280 and then to grow up into the area of 1.3830. The test of the trend’s ascending line at the RSI is an additional signal to buy the pair. If the pair breaks the channel’s lower border and falls down lower than 1.3120, this case scenario will be cancelled.
02.03.2012
Forex Technical Analysis 2012/05/03 (EUR/USD, USD/CHF, NZD/USD, AUD/USD) Forecast FX
The EUR/USD currency pair continues moving downwards as the price has fallen down for about 95 points today. Currently Euro is at the level of 1.3250, and in general, it is moving inside the rising channel. The RSI indicator is testing the trend’s rising line (which is a support line here), we should expect a rebound and the start of the rising movement. If the pair continues falling down, we should expect the price to test the channel’s lower border at the level of 1.3140, where one can consider buying Euro with the tight stop. If the price breaks the lower border and leaves the channel, this case scenario will be cancelled, and the pair will continue moving downwards.