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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.


Forex Technical Analysis 18.05.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Pound has expanded its consolidation range upwards and completed the correction.

Fibonacci Retracements Analysis 17.05.2016 (EUR/USD, EUR/GBP)

Eurodollar is being corrected, although the main target for bears is still the group of lower fibo-levels at 1.1210.

Forex Technical Analysis 17.05.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Pound is being corrected; the pair has expanded its trading range upwards.

Fibonacci Retracements Analysis 16.05.2016 (EUR/USD, EUR/GBP)

After reaching its intermediate targets, Eurodollar started a local correction.

Forex Technical Analysis 16.05.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar has completed the third structure of the descending wave.

Fibonacci Retracements Analysis 13.05.2016 (EUR/USD, EUR/GBP)

Eurodollar has broken its low and continues falling.

Fibonacci Retracements Analysis 12.05.2016 (EUR/USD, EUR/GBP)

Quite soon, the market may reach the closest group of fibo-levels at 1.1310.

Forex Technical Analysis 12.05.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar is expanding the consolidation channel upwards.

Fibonacci Retracements Analysis 11.05.2016 (EUR/USD, EUR/GBP)

Europound has rebounded from the retracement of 38.2% twice, which means that it may resume moving upwards.

Forex Technical Analysis 11.05.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar is moving in the center of the consolidation channel without any particular direction.

Fibonacci Retracements Analysis 10.05.2016 (EUR/USD, EUR/GBP)

Eurodollar continues falling.

Fibonacci Retracements Analysis 09.05.2016 (EUR/USD, EUR/GBP)

Eurodollar has rebounded fast from the correctional retracement of 38.2%, which means that it may start a new decline.

Fibonacci Retracements Analysis 06.05.2016 (EUR/USD, EUR/GBP)

It looks like the correction is getting deeper than it was expected earlier.