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 is moving in the center of the descending structure.
The EUR/USD pair is forming another consolidation range below 1.1155.
Europound has resumed its growth and right now is again moving near the correctional retracement of 61.8%.
The EUR/USD pair has broken both the border of the channel and the low of the consolidation range, and formed a downside continuation pattern.
Eurodollar has rebounded from the correctional retracement of 61.8% and started falling.
Eurodollar has rebounded from the correctional retracement of 61.8%, which means that it may resume falling.
The EUR/USD pair has reached the target of its ascending structure.
The EUR/USD pair is still moving inside a narrow consolidation range at the top of its ascending structure.
The local correction continues.
The GBP/USD pair has completed the correction.
The ascending correction continues.
Eurodollar has rebounded from the correctional retracement of 78.6%, which means that it may resume falling.
The EUR/USD pair is falling towards 1.1027.
Eurodollar started a fast correction, but then rebounded from the retracement of 78.6%.
Being influenced by the FOMC’s comments, the EUR/USD pair has broken 1.1000 upwards and right now is growing towards 1.1111.