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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.

01.10.2015

Fibonacci Retracements Analysis 01.10.2015 (EUR/USD, EUR/GBP)

The pair is trying to resume moving downwards.
01.10.2015

Forex Technical Analysis 01.10.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar is moving according to the main scenario to reach 1.1000.
30.09.2015

Fibonacci Retracements Analysis 30.09.2015 (EUR/USD, EUR/GBP)

As we can see at the H1 chart, the pair is trying to rebound the local retracement of 50%.
30.09.2015

Forex Technical Analysis 30.09.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar is trying to continue the correction towards 1.1308, but the main scenario remains the same – decline inside the downtrend.
29.09.2015

Fibonacci Retracements Analysis 29.09.2015 (EUR/USD, EUR/GBP)

The pair is still being corrected.
28.09.2015
259

Fibonacci Retracements Analysis 28.09.2015 (EUR/USD, EUR/GBP)

As we can see at the H1 chart, the price has rebounded from the local retracement of 50%.
25.09.2015
316

Forex Technical Analysis 25.09.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar has completed the correction and today continues falling inside the downtrend.
25.09.2015
214

Fibonacci Retracements Analysis 25.09.2015 (EUR/USD, EUR/GBP)

As we can see at the H1 chart, Eurodollar has rebounded from the correctional retracement of 50%.
24.09.2015
188

Fibonacci Retracements Analysis 24.09.2015 (EUR/USD, EUR/GBP)

After rebounding from the group of lower fibo-levels, Europound has started growing, thus eliminating the possibility of a further decline.
24.09.2015
244

Forex Technical Analysis 24.09.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Ruble is moving in the center of its consolidation channel without any particular direction.
22.09.2015
310

Forex Technical Analysis 22.09.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Eurodollar hasn’t been able to continue the correction and right now continues falling
22.09.2015
184

Fibonacci Retracements Analysis 22.09.2015 (EUR/USD, EUR/GBP)

At the end of the last week, Eurodollar rebounded from the correctional retracement of 61.8%, which means that the pair may start another descending movement.