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.

16.05.2011

Forex Technical Analysis 2011/17/05 (EUR/USD, USD/CHF, NZD/USD, USD/CAD) Forecast FX

The EUR/USD currency pair is moving according to the forecast. At the moment we should expect the price to fall even deeper, into the area of 1.3635. One can consider selling the pair near the channel’s upper border. If the price leaves the channel, this case scenario will be cancelled, we will recommend you to close short positions and consider the possibility of the rising trend in the nearest future.
13.05.2011

Forex Technical Analysis 2011/16/05 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, CAD/JPY) Forecast FX

In case of the EUR/USD currency pair we can see that the descending symmetrical pattern with the target in the area of 1.3990 has been formed. At the moment the price is testing the channel’s upper border, one can try the tight stop sales. If the price breaks and leaves the channel, this case scenario will be cancelled.
12.05.2011

Forex Technical Analysis 2011/13/05 (EUR/USD, USD/CHF, NZD/USD, AUD/USD) Forecast FX

All currency pairs are moving according to the forecast. At the moment one can consider selling the EUR/USD currency pair with the target in the area of 1.3750. The stop must be above 1.4240. If the price breaks the channel’s upper border, this case scenario will be cancelled.
11.05.2011

Forex Technical Analysis 2011/12/05 (EUR/USD, USD/CHF, NZD/USD, USD/CAD, AUD/USD) Forecast FX

The EUR/USD currency pair keeps moving inside the narrow range. At the moment we should expect the price to break the rising channel and start falling with the target in the area of 1.4165. The price breaking the trend’s rising line at the RSI is an additional signal to sell Euro. One can try to sell it with the tight stop above 1.4400.
10.05.2011

Forex Technical Analysis 2011/11/05 (EUR/USD, DOLLAR INDEX, NZD/USD, SILVER) Forecast FX

At the moment the EUR/USD currency pair is testing the rising channel’s lower border. The main scenario is Euro growing to the level of 1.4530, and then falling from the “shoulder” of “head & shoulders” reversal pattern with the target in the area of 1.35. But if the price breaks the channel’s lower border, one should consider selling Euro with the tight stop.
09.05.2011

Forex Technical Analysis 2011/10/05 (EUR/USD, GBP/USD, USD/CHF, EUR/GBP) Forecast FX

The EUR/USD currency pair keeps falling down. Judging by the current price structure, we should expect the price to continue downward movement to the level of 1.4050. If the price leaves the descending channel, this case scenario will be cancelled. One can try the tight stop sales. Don’t forget to move stop into the black as soon as possible.
08.05.2011

Forex Technical Analysis 2011/09/05 (EUR/USD, Euro Index, GBP/USD, USD/CHF, NZD/USD, AUD/USD) Forecast FX

Dollar has fallen more than 500 points over the last two days. The weekly chart of the pair indicates that Euro may fall to the level of 1.10. The RSI indicator hit the descending trend’s line and started moving in opposite direction. We should also expect the indicator to fall to the channel’s lower border.
05.05.2011

Forex Technical Analysis 2011/06/05 (EUR/USD, GBP/USD, NZD/USD, GOLD) Forecast FX

At the moment the EUR/USD currency pair is moving inside the rising symmetrical pattern. The center of the pattern is at the level of 1.4545. The price is testing the channel’s lower border, one can try to buy the pair with the tight stop. If the price breaks the channel’s lower border, we will recommend you to close long positions. The general target of the growth is the level of 1.50.