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.
EURUSD decline is slowing down and price may be corrected soon.
Today the euro dollar currency pair attempts to roll back to the breakdown of the growth channel.
On the 4-hour euro dollar chart there is a bearish indication, the middle Window showed resistance.
The cluster of Fibo levels around 1.0925 gave only local support to the price.
A retreat from the congestion of the upper fibo-levels has served as the beginning of a decline.
On the 4-hour euro dollar chart the correction continues, the middle Window resists.
The euro dollar currency pair could continue to develop the structure of the figure of continuation on the breakdown of the level of 1.1030.
The main current trend remains bearish, the beginning of which became a retreat from the congestion of the upper fibo-levels.
The euro dollar currency pair extended the consolidation down and returned back into the consolidation range.
On the 4-hour euro dollar chart there is a lateral correction, the bearish continuation pattern Three methods indicates the direction down.
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.