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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.

20.11.2015

Forex Technical Analysis 20.11.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar has completed its correction and right now is forming another descending structure towards 1.0692.
20.11.2015

Fibonacci Retracements Analysis 20.11.2015 (EUR/USD, EUR/GBP)

Eurodollar has rebounded from the retracement of 61.8%, which means that the pair may resume its descending movement.
19.11.2015

Fibonacci Retracements Analysis 19.11.2015 (EUR/USD, EUR/GBP)

In case of Europound, the local correction is taking place as well.
19.11.2015

Forex Technical Analysis 19.11.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar has returned to the center of the consolidation channel.
18.11.2015

Fibonacci Retracements Analysis 18.11.2015 (EUR/USD, EUR/GBP)

It looks like Europound has also resumed its decline.
18.11.2015

Forex Technical Analysis 18.11.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Franc is consolidating at the top of its ascending wave.
17.11.2015

Fibonacci Retracements Analysis 17.11.2015 (EUR/USD, EUR/GBP)

Probably, Eurodollar is moving downwards again.
16.11.2015

Fibonacci Retracements Analysis 16.10.2015 (EUR/USD, EUR/GBP)

Probably, Eurodollar has completed the local correction.
16.11.2015

Forex Technical Analysis 16.11.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar has tested the lower border of its consolidation channel; the pair has formed another descending structure.
13.11.2015

Fibonacci Retracements Analysis 13.11.2015 (EUR/USD, EUR/GBP)

As we can see at the H1 chart, the target of the current correction is the retracement of 38.2%.
13.11.2015

Forex Technical Analysis 13.11.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar is attempting to form the correction towards 1.0833 or even 1.0884.
12.11.2015

Fibonacci Retracements Analysis 12.11.2015 (EUR/USD, EUR/GBP)

As we can see at the H1 chart, the price has rebounded from the retracement of 23.6% twice.
12.11.2015

Forex Technical Analysis 12.11.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar is attempting to expand its consolidation channel upwards, to return to 1.088.
11.11.2015

Fibonacci Retracements Analysis 11.11.2015 (EUR/USD, EUR/GBP)

Probably, the local correction continues.