Forex Technical analysis and forecasts
One of the key factors, which has influence on any trader’s success is his ability to correctly predict the market movements. The two main methods are technical and fundamental analysis of Forex market.
An important feature of fundamental analysis is its global nature. Events, which are analyzed in fundamental analysis, have long-term influence on supply and demand on the currency market. This information is composed of the news about the world’s biggest political and financial events. It’s hard to overestimate the influenced the news has on financial markets: when the most important news is published, the market volatility increases.
It’s quite easy for an experienced trader to analyze and predict how a single event may influence the market. However, analysis of several events, which may influence the market in completely different ways, is a very complicated and time-consuming process. This may be the reason why only approximately 20% of traders use fundamental analysis as their main forecasting tool.
Fundamental approach to Forex market analysis, unlike technical one, covers not only the prices and their changes, but the reasons for these changes as well. Each approach has its followers, advantages and disadvantages.
Bearish trend is on 4 hour chart of Euro-US Dollar, middle Window resisted, Engulfing model pointed on downward direction.
Double pullback from correction mark 50% pointed on possibility of resuming of the pair descending.
On 4 hour chart of Euro to US Dollar, there is correction within black candlestick, middle Window resists, Harami model points on rollback to the top.
Currency pair Euro-US Dollar is traded in consolidated diapason. Market in momentum tries to grow to level 1.1100.
After repeated pullback from mark 50%, Euro-US Dollar tries to return to descending.
On 4 hour chart of Euro-US Dollar, correction is within black candlestick, the middle window resisted, Engulfing model pointed on bearish resistance.
Currency pair Euro-US Dollar is traded in structure of descending trend.
After double pullback from corrected mark 50%, Euro-US Dollar tries again to return to descending.
Currency pair Euro-US Dollar tested goal of growth matrix performing in momentum impulse for descending and its correction.
On 4 hour chart of Euro-UD Dollar, side correction is developed within black candlesticks, middle and lower Window support/resist, bullish Hammer points on upward direction.
Euro to US Dollar tests correction mark 50%, from which earlier pullback was formed.
On 4 hour chart of Euro-US Dollar, side correction is within black candlestick, middle and lower Window support/resist, bullish Hammer points on upward correction.
Currency pair Euro - US Dollar tries to form growth matrix as a correction. We do not exclude test of level 1.1140.
Consolidation on Euro-US Dollar is continued. Earlier pullback from fibo-level 50% was formed that pointed on possibility of resuming of declining.
On 4 hour chart of Euro US Dollar, side correction is developed within long black candlestick, middle and lower Window support/resist, bearish Harami points on downward direction.