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.
Being under pressure, the EUR/USD pair is still falling and forming the third descending wave.
The EUR/USD pair is again testing the group of fibo-levels near the correctional retracement of 61.8%.
Being under pressure, the EUR/USD pair is falling towards its target.
The EUR/USD pair is still consolidating.
Last week, the EUR/GBP pair reached its upside targets, which means that it may start a new descending correction.
After several rebounds from the retracement of 61.8%, the EUR/USD pair finally started falling.
Being under pressure, the EUR/USD pair is moving downwards.
In case of the EUR/GBP pair, the uptrend continues.
The EUR/USD pair is forming a new consolidation right in the center of the triangle pattern.
Yesterday, the EUR/USD pair rebounded from the retracement of 78.6% for the second time and, as a result, started moving upwards.
Being influenced by the news related to the closing of QE programs, the EUR/USD pair has formed a strong ascending impulse from 1.1140.
The EUR/USD pair rebounded from the group of local fibo-levels close to the retracement of 78.6% for the second time.
The EUR/USD pair has broken the consolidation range downwards and right now is forming another descending structure with the target at 1.1186.
The EUR/USD pair rebounded from the group of downside fibo-levels and started growing fast.
The EUR/USD pair has finished the ascending impulse and right now is moving in the consolidation range.