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Forex Technical analysis and forecasts

01.03.2012 / 19:08

Forex Technical Analysis 2012/02/03 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, EUR/JPY) Forecast FX

The EUR/USD currency pair continues falling down according to our forecast, it made a significant descending movement from the level of 1.3470 into the area 1.3290. Currently the price is moving at the level of 1.3330. The RSI indicator was supported, we should expect a rebound from the current levels and the start of the rising movement. One can consider buying the pair with the tight stop. The closest target of the growth is the level of 1.3565, the area for purchases is the level of 1.3215. If the price breaks the rising channel’s lower border, this case scenario will be cancelled and we should expect the pair to continue moving downwards.

Forex Murray math lines and forecasts

01.03.2012 / 09:06

Murray Math Lines 01.03.2012 (USD/CAD, СAD/JPY, NZD/JPY)

Canadian Dollar broke local maximum, but the correction started at the 6/8 level. The correction won’t probably be very long, most likely it will be more of a consolidation. After that we can expect the price to start falling down towards the 8/8 level.

Forex Ichimoku cloud analysis and forecast

01.03.2012 / 15:49

Ichimoku Cloud Analysis 01.03.2012 (GBP/USD, GOLD)

GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen intersected inside Kumo Cloud forming “Golden Cross” (1), both lines are directed upwards. Ichimoku Cloud is going up (2), Senkou Span A is moving upwards, and Senkou Span B is horizontal. Chinkou Lagging Span is above the chart and away from it, the price is inside the channel between Tenkan-Sen and Kijun Sen. In the near term, we can expect resistance of Tenkan-Sen and the price to move downwards inside the channel.