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Forex Technical analysis and forecasts

14.05.2012 / 19:02

Forex Technical Analysis 2012/15/05 (EUR/USD, GBP/USD, USD/CHF, USD/RUR, USD/CAD) Forecast FX

The EUR/USD currency pair continues moving downwards, however, I still don’t recommend to sell it from the current levels. At the daily chart the RSI indicator is testing the support line, we should expect it to rebound upwards. Also we can see that the price has reached all the targets of the descending mirror pattern. The best scenario is to wait until the price forms reversal patterns at shorter time frames and then try to buy the pair.

Forex Wave analysis and forecast

14.05.2012 / 15:16

Wave Analysis 14.05.2012 (NZD/USD, EUR/USD)

The price continues forming a descending impulse inside the third wave. On the minor wave level the pair is finishing wave (3). In the near term, we can expect the local correction, but after it is completed the price may start falling down again while forming wave (5) of [3].

Forex Murray math lines and forecasts

14.05.2012 / 16:07

Murray Math Lines 14.05.2012 (AUD/USD, EUR/JPY, GBP/CHF)

Australian Dollar continues falling down towards the 0/8 level steadily, the bears are supported by the H4 Super Trend’s line. The pair broke the 2/8 level after the market opening on Monday morning. The price may reach the target level within the next several days.

Forex Ichimoku cloud analysis and forecast

14.05.2012 / 14:32

Ichimoku Cloud Analysis 14.05.2012 (GBP/USD, GOLD)

GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen intersected again below Kumo Cloud forming “Dead Cross” (1), Tenkan-Sen is directed downwards, and Kijun-Sen is horizontal. Ichimoku Cloud is going down (2), Senkou Spans A and B are moving downwards. Chinkou Lagging Span is below the chart, the price is below the indicator’s lines. In the near term, we can expect resistance of Tenkan Sen and the price to move downwards.
14.05.2012 / 12:28

Japanese Candlesticks Analysis 14.05.2012 (EUR/USD, USD/JPY)

The H4 chart of the EUR/USD currency pair shows a bearish tendency on the descending trend. The previous sideways correction has been finished after Tweezers pattern. A new Window has been opened. Three Line Break and Heiken Ashi candlestick charts confirm a descending movement.