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.

15.09.2011

Forex Technical Analysis 2011/16/09 (EUR/USD, DOLLAR INDEX, GBP/USD, AUD/USD) Forecast FX

The EUR/USD currency pair is moving inside the rising channel, and at the moment we can see the formation of the rising symmetrical pattern. The closest target of the growth is the area of 1.3905. One can consider buying the pair near the channel’s lower border in the area of 1.3740. But if the price breaks the channel’s lower border, this case scenario will be cancelled.
14.09.2011

Forex Technical Analysis 2011/15/09 (EUR/USD, GBP/USD, NZD/USD, AUD/USD) Forecast FX

The EUR/USD currency pair keeps moving inside the descending channel. As we discussed earlier, the pair has reached all targets of the descending pattern. The RSI indicator was supported by the trend’s rising line, we should expect the indicator to rebound and start moving upwards. The closest target of the growth is the area of 1.40. The price breaking the descending channel downwards will cancel this scenario and will be a very strong signal to sell Euro.
13.09.2011

Forex Technical Analysis 2011/14/09 (EUR/USD, USD/CAD, NZD/USD, SILVER) Forecast FX

The EUR/USD currency pair keeps moving according to the forecast. The price rebounded from the level of 1.3695, the target of the fall is the area of 1.3380. One can try to sell Euro with the tight stop. Those traders, who have already started selling the pair, are recommended to hold open positions. The price testing the trend’s descending line at the RSI is an additional signal to sell the pair. But if the price leaves the channel, this case scenario will be cancelled.
12.09.2011

Forex Technical Analysis 2011/13/09 (EUR/USD, GBP/USD, AUD/USD, EUR/GBP) Forecast FX

The EUR/USD currency pair has reached the final target of the descending pattern at the daily chart. At the H4 chart of the pair we can see the formation of the descending pattern with the target in the area of 1.3380. One should wait for the test either of the level of 1.3695, or of the descending channel’s upper border, and then try to sell the pair with the tight stop. The price testing the trend’s descending line at the RSI is an additional signal to sell Euro. But if the price leaves the channel, this case scenario will be cancelled.
10.09.2011

Forex Technical Analysis 2011/12/09 (EUR/USD, EUR/GBP, USD/CAD, AUD/USD, GOLD) Forecast FX

The EUR/USD currency pair keeps falling steadily. Currently there is some potential for a descending pattern with the target in the area of 1.3550 to be formed. We should expect the price to test the descending channel’s upper border in the area of 1.3810, where one can try to sell the pair with the tight stop.
08.09.2011

Forex Technical Analysis 2011/09/09 (EUR/USD, GBP/USD, NZD/USD, CAD/JPY) Forecast FX

At the H4 chart of the EUR/USD currency pair we have “failure swing” reversal pattern forming at the RSI. The target of the growth is the area of 1.4186. However, one should consider buying the pair only after the price breaks the resistance level at the RSI. But if the RSI indicator falls lower than 30, this case scenario will be cancelled.
07.09.2011

Forex Technical Analysis 2011/08/09 (EUR/USD, GBP/USD, USD/CHF, GOLD, FTSE 100) Forecast FX

We may assume that the EUR/USD currency pair is about to be corrected to the area of 1.4265, where the “triangle” pattern has been broken. The RSI indicator faced the resistance from the trend’s rising line, we should expect the indicator to rebound from it to the descending line, which may be a starting point of the descending movement. One can consider selling Euro while the price is inside the descending channel.
06.09.2011

Forex Technical Analysis 2011/07/09 (EUR/USD, GBP/USD, GBP/JPY, SILVER) Forecast FX

The EUR/USD currency pair has shown a significant growth today, however, this growth should be mostly considered as a test of “triangle’s” lower border. At the moment, the descending pattern with the target in the area of 1.3590 is in effect. If the price leaves the channel, this case scenario will be cancelled. I wouldn’t recommend you to sell the pair at current prices, we should wait until the market becomes more stable.