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Forex Technical analysis and forecasts

27.02.2012 / 19:03

Forex Technical Analysis 2012/28/02 (EUR/USD, GBP/USD, NZD/USD, USD/CAD) Forecast FX

In case of the EUR/USD currency pair an upward correction continues. Judging by the daily chart, the pair is moving inside the descending channel. By the moment the price has got very close to the channel’s upper border. The test of the trend’s descending line at the RSI is an additional signal to sell the pair, we should expect a rebound and the start of the descending movement. The target of the fall is the area of 1.2284. The next target will be the area of 1.1890.

Forex Wave analysis and forecast

27.02.2012 / 17:49

Wave Analysis 27.02.2012 (NZD/USD, EUR/USD)

The price continues forming diagonal triangle pattern in wave [5] of C, and may reach a new local maximum during the day. After that, the mid-term trend is likely to make a reverse, and we may expect the start of the correction, at least.

Forex Murray math lines and forecasts

27.02.2012 / 09:39

Murray Math Lines 27.02.2012 (SILVER, NZD/USD, EUR/JPY)

Silver is moving inside an “overbought zone” above the +1/8 level. Most likely, the price will start moving upwards again on Monday or Tuesday. After the market breaks the +2/8, the lines at the chart will be redrawn.

Forex Ichimoku cloud analysis and forecast

27.02.2012 / 17:51

Ichimoku Cloud Analysis 27.02.2012 (GBP/USD, GOLD)

GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud forming “Golden Cross” (1), Tenkan-Sen is directed upwards, and Kijun-Sen is horizontal. Ichimoku Cloud is going up (2), Senkou Span A turned upwards, and Senkou Span B is horizontal. Chinkou Lagging Span is on the chart, the price is above the indicator’s lines. In the near term, we can expect the price to fall down towards support of Tenkan-Sen.