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.
Euro to US Dollar tests correction mark 50%, from which earlier pullback was formed.
On 4 hour chart of Euro-US Dollar, side correction is within black candlestick, middle and lower Window support/resist, bullish Hammer points on upward correction.
Currency pair Euro - US Dollar tries to form growth matrix as a correction. We do not exclude test of level 1.1140.
Consolidation on Euro-US Dollar is continued. Earlier pullback from fibo-level 50% was formed that pointed on possibility of resuming of declining.
On 4 hour chart of Euro US Dollar, side correction is developed within long black candlestick, middle and lower Window support/resist, bearish Harami points on downward direction.
Currency pair Euro-Dollar came back to level 1.1060 and keeps to be traded stably without any notable trend.
Currency pair Euro-US Dollar is traded in consolidated diapason.
On 4 hour chart of Euro-Dollar, side correction within long black candlestick is continuing, lower Window supported, bullish Harami and Engulfing pointed out upward direction.
Over the last 24 hours, Eurodollar hasn’t gone anywhere.
The EUR/USD pair is moving above 1.1000 without any particular direction.
Europound is still consolidating near the group of retracements reached earlier.
The EUR/USD pair is moving above 1.1000.
Europound has reached its predicted targets and the Take Profit closed my buy order opened earlier.
The EUR/USD pair has broken the ascending channel and right now is forming a downside continuation pattern.