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.
On the 4-hour euro dollar chart, the bearish Three methods indicate the direction down.
The Euro Dollar continues to decline, the beginning of which was the rebound from the congestion of the upper fibo-levels.
The euro dollar pair is under pressure to decline. In practice, the market once again formed around 1.1000.
The Eurodollar, after the rebound from the top of the cluster of Fibo levels began to decline.
The euro dollar currency pair is trading in the structure of a declining wave to the refinement of the level of 1.0900.
The euro dollar currency pair is now under pressure to decline.
The Eurodollar, after the rebound from the top cluster of Fibo levels began to decline.
Yesterday, Eurodollar reached its local target near the group of fibo-levels and then started a new correction.
Pound has expanded its consolidation channel upwards.
Being under pressure, Eurodollar is falling towards 1.1000.
After rebounding from the group of upper fibo-levels, Eurodollar has started a new correction.
Europound has successfully reached its upside targets and right now is being corrected.
Eurodollar is consolidating near the minimums of its descending wave.
Eurodollar has rebounded from the group of upper fibo-levels and started a new correction.
Eurodollar has reached its predicted downside target.