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Daily forex technical analysis & forecasts

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Forex Technical analysis and forecasts

21.05.2013

Fibonacci Retracements Analysis 21.05.2013 (EUR/USD, USD/CHF)

At the H4 chart, the price started a new correction, which may continue for several days. Later Euro us expected to start a new descending movement towards the target area, which is formed by three different fibo-levels and the line of 1.618 from fibo-channel.
21.05.2013

Bill Williams’ Indicators Analysis 21.05.2013 (USD/CAD, NZD/USD)

At the H4 chart of the USD/CAD currency pair, the Alligator is moving upwards, but closing its mouth slowly. The price is forming a bearish fractal; AO and AC indicators are in the red zone; there is a Fade bar on the MFI; however, there might be a Squat one too. I’m keeping my buy order; a protective stop is below the Alligator’s teeth.
20.05.2013

Fibonacci Retracements Analysis 20.05.2013 (EUR/USD, USD/CHF)

After reaching intermediate targets, Euro started a new correction. However, the price may continue falling down quite soon. The target for the bears is the area formed by three different fibo-levels, and the line of 1.618 from fibo-channel, which was formed based on the previous ascending movement.

Forex Wave analysis and forecast

21.05.2013

Wave Analysis 21.05.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY)

We can’t exclude a possibility that Euro is completing a descending zigzag A-B-C of (2).
21.05.2013

Wave Analysis 21.05.2013 (DJIA Index, Crude Oil)

The Index continues forming a bullish impulse inside wave [5]. On the minor wave level, the price is forming the fifth wave. In order to complete the whole structure, the instrument needs several more waves. We can’t exclude a possibility that the bulls may test the maximum, but later the Index is expected to start a correction.
20.05.2013

Wave Analysis 20.05.2013 (DJIA Index, Crude Oil)

The Index continues growing up quite fast. It looks like the price is about to complete an ascending impulse inside wave [5]. Most likely, the buyers will try to reach a new maximum. After that, the instrument is expected to start a correction.

Forex Murray math lines and forecasts

21.05.2013

Murray Math Lines 21.05.2013 (NZD/USD, EUR/GBP, GBP/JPY)

The lines at the daily and the H4 charts are completely the same. The pair started a correction; the price is already moving above the Super Trend’s line. If the market rebounds from the 4/8 level, the pair will start falling down again.
20.05.2013

Murray Math Lines 20.05.2013 (NZD/USD, EUR/GBP, GBP/JPY)

New Zealand Dollar continues falling down; the bears are supported by the H4 Super Trend’s line. The pair is already below the 3/8 level, which means that it may continue falling down towards the 0/8 level.
17.05.2013

Murray Math Lines 17.05.2013 (NZD/USD, EUR/GBP, CAD/JPY)

New Zealand Dollar continues falling down quite fast. The pair is already below the 3/8 level, which means that it may continue moving downwards. The target for the next several days is the 0/8 level. If the market rebounds from it, the pair will start a new correction.

Forex Ichimoku cloud analysis and forecast

21.05.2013

Ichimoku Cloud Analysis 21.05.2013 (GBP/USD, GOLD)

GBPUSD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud and formed “Dead Cross” (1); all lines are horizontal. Ichimoku Cloud is going down (2), Chinkou Lagging Span is moving towards the chart, and the price is above Tenkan-Sen and Kijun-Sen, below Kumo Cloud. Short term forecast: we can expect support of Tenkan-Sen and the price to start a correction up to Senkou Span A.
20.05.2013

Ichimoku Cloud Analysis 20.05.2013 (GBP/USD, GOLD)

GBPUSD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud and formed “Dead Cross” (1); Tenkan-Sen and Senkou Span A are directed downwards, other lines are horizontal. Ichimoku Cloud is going down (2), Chinkou Lagging Span is below the chart, and the price is below the lines. Short term forecast: we can expect resistance of Tenkan-Sen and the price to continue falling down.
20.05.2013

Japanese Candlesticks Analysis 20,05.2013 (EUR/USD, USD/JPY)

The H4 chart of the EUR/USD currency pair shows a correction, which continues below the closest Window, which in its turn, a resistance level. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement; support level of bullish patterns indicates that a bearish tendency may continue.