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Forex Technical analysis and forecasts

29.02.2012 / 14:52

Forex Technical Analysis 2012/01/03 (EUR/USD, EUR/GBP, USD/JPY, AUD/USD) Forecast FX

Although the EUR/USD currency pair reached the closest targets of the fall, it didn’t continue moving downwards. Currently the pair is testing local maximums. At the RSI we can see the formation of “head & shoulders” reversal pattern. We should expect Euro to fall from the current levels, the target of the fall is the area of 1.3105. One can consider selling the pair with the tight stop. If the price breaks the descending channel’s upper border, this case scenario will be cancelled.

Forex Wave analysis and forecast

29.02.2012 / 09:40

Wave Analysis 29.02.2012 (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. However, we shouldn’t expect the market to grow higher than the level of 0.8500. Besides, there is a possibility that this level may be a starting point of a reverse.

Forex Murray math lines and forecasts

29.02.2012 / 09:05

Murray Math Lines 29.02.2012 (NZD/USD, EUR/JPY, SILVER)

Despite the fact that the bulls broke the local maximum, they haven’t been able to break the 5/8 level yet. That’s why, in order to decrease the risk, I’ve moved the stop on buy order into the black. The short term target is still the 6/8 level.

Forex Ichimoku cloud analysis and forecast

29.02.2012 / 14:21

Ichimoku Cloud Analysis 29.02.2012 (GBP/USD, GOLD)

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