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.
The EUR/USD pair has completed the first descending impulse and the correction.
The EUR/USD pair is still being corrected.
The EUR/USD pair has completed the structure of the ascending wave.
The EUR/USD pair is still consolidating.
The EUR/USD pair hasn’t been able to form the fifth correctional structure and returned to falling after three structures.
The EUR/USD pair rebounded from the group of fibo-levels and right now is still being corrected.
The EUR/USD pair has completed two ascending impulses and the correctional structure.
Just we expected, the EUR/USD pair rebounded from the group of fibo-levels and started a new correction.
Being under pressure, the EUR/USD pair is growing and may break its consolidation range to the upside.
The EUR/USD pair is moving near its local lows.
The EUR/USD pair is moving inside a narrow consolidation range without any particular direction.
The EUR/USD pair reached the group of downside retracements, rebounded from them, and may start a new local correction.
After reaching 1.0860, the EUR/USD pair has started forming another consolidation range.
The EUR/GBP pair is attempting to rebound from the correctional retracement of 38.2%.
The EUR/USD pair is still forming the third descending wave.