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Forex Technical analysis and forecasts

02.05.2012 / 17:45

Forex Technical Analysis 2012/03/05 (EUR/USD, GBP/USD, USD/CHF, AUD/USD) Forecast FX

At the daily chart the EUR/USD currency pair continues moving inside “triangle” pattern. The price rebounded from the pattern’s upper border, and at the moment is falling down quite fast. The market will tend to be unstable until the price is inside the pattern. We should wait a bit until the price leaves the pattern, and then it will become clear which direction it is going to move.

Forex Wave analysis and forecast

02.05.2012 / 12:04

Wave Analysis 02.05.2012 (NZD/USD, EUR/USD)

After finishing quite a long wave [2], the market is trying to start moving inside the descending trend again. On the minor wave level the price has completed wave (2). There is a possibility that the pair may make a significant descending movement while forming the third wave in the nearest future.

Forex Murray math lines and forecasts

02.05.2012 / 14:52

Murray Math Lines 02.05.2012 (USD/CAD, AUD/USD, EUR/GBP)

The correction, which started at the 1/8 level, faced the resistance at the 4/8 one and rebounded from it. Nevertheless, the correction may continue and the price may test the daily Super Trend’s line. However, the main target for the bears is still at the 0/8 level.

Forex Ichimoku cloud analysis and forecast

02.05.2012 / 13:51

Ichimoku Cloud Analysis 02.05.2012 (GBP/USD, GOLD)

GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen are under pressure of “Golden Cross”, both lines are horizontal. Ichimoku Cloud is going up (2), Senkou Span A is horizontal, and Senkou Span B is moving upwards. Chinkou Lagging Span is above the chart, the price is above the indicator’s lines. In the near term, we can expect support of Tenkan Sen and the attempts of the price to fall down towards the cloud.
02.05.2012 / 12:49

Japanese Candlesticks Analysis 02.05.2012 (EUR/USD, USD/JPY)

The H4 chart of the EUR/USD currency pair shows a bearish correction on the ascending trend, which is indicated by Engulfing Bearish pattern. Window 2011.11.25 is a resistance level. Three Line Break chart confirms an ascending trend, Heiken Ashi candlesticks indicate a correction.