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Forex Technical analysis and forecasts

31.05.2012 / 19:03

Forex Technical Analysis 2012/01/06 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, USD/CAD, USD/RUR) Forecast FX

The EUR/USD currency pair has reached all yesterday’s targets. The price continues moving inside the descending channel and right now is forming a symmetrical pattern. The target of the fall is the area of 1.2310. The pair is testing the channel’s upper border, which in this case is a resistance level. One can consider selling Euro with the tight stop above 1.2445 and increase the amounts of short positions only after the price breaks the level of 1.2385. If the price grows up higher than 1.2470, this scenario will be cancelled.

Forex Wave analysis and forecast

31.05.2012 / 12:03

Wave Analysis 31.05.2012 (NZD/USD, EUR/USD)

It looks like the price has finally completed wave (4). Earlier the price formed quite a long extension inside wave (3). In the nearest future we can expect the pair to continue falling down in wave (5) of [3] and reach a new local minimum.

Forex Murray math lines and forecasts

31.05.2012 / 17:34

Murray Math Lines 31.05.2012 (GBP/JPY, AUD/USD, USD/CHF)

The lines at the H4 chart have been redrawn. The bears are supported by the Super Trend’s line. At the moment the local correction is taking place, however, in the nearest future the price may continue falling down towards the 0/8 level.

Forex Ichimoku cloud analysis and forecast

31.05.2012 / 16:45

Ichimoku Cloud Analysis 31.05.2012 (GBP/USD, GOLD)

GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen intersected below Kumo Cloud forming “Dead Cross”, right now both lines are horizontal. Ichimoku Cloud is going down, Senkou Span A is horizontal, and Senkou Span B turned downwards. Chinkou Lagging Span is below the chart, the price is below the indicators line. In the near term, we can expect attempts of the price to stay inside the channel between Tenkan Sen and Kijun-Sen.
31.05.2012 / 11:35

Japanese Candlesticks Analysis 31.05.2012 (EUR/USD, USD/JPY)

The H4 chart of the EUR/USD currency pair shows the start of the correction on the descending trend, which is indicated by Harami pattern. A closed ascending Window is a resistance level. Three Line Break chart confirms the descending trend, Heiken Ashi candlesticks indicate the correction.