Technical analysis and forecasts

Currencies are believed to move in cycles, which means that one may try to estimate and predict their future fluctuations. Technical analysis helps to look into behavior of currency pairs on the basis of traded value, movement direction, investors’ common interests, and fluctuations history.

Technical analysis offers a trader a range of patterns that can predict price movement. Some of them predict a price reversal in one direction or another, others - a repetition of changes. To make it easier to use technical analysis, there is a number of indicators that include several parameters from the price chart. So, both experienced and novice traders can resort to technical analysis - it is believed that both of them should be familiar with the basics of technical analysis. It should be noted that forecasts made based on technical analysis cannot be considered 100% accurate, but they can still make trading more efficient. This page presents conclusions and forecasts made by RoboForex experts based on tech analysis.

17.03.2014

Weekly Technical Analysis 17.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

At daily chart, Euro is still moving upwards with target at 1.4100; right now market is forming third ascending wave. We think, during this week, price may reach level of 1.3990 and then start consolidating. Alternative scenario implies that pair may form correction towards level of 1.3800. Later, in our opinion, instrument may continue growing up towards above-mentioned target.
17.03.2014

Fibonacci Retracements Analysis 17.03.2014 (EUR/USD, USD/CHF)

After rebounding from upper target levels, Eurodollar started falling down. First target for bears is at level of 50%: if they break it, market will continue falling down towards level of 61.8%. I’m selling, but very carefully, because this descending movement may turn out to be just another correction.
17.03.2014

Bill Williams’ Indicators Analysis 17.03.2014 (USD/CAD, NZD/USD)

At H4 chart of USD CAD, Alligator is sleeping. Indicators are very close to balance line; price is forming bullish fractal; there is Squat bar on the MFI. After two fractals, equidistant from Alligator’s mouth, I expect breakout of fractals to the upside.
17.03.2014

Forex Technical Analysis 17.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Euro is still moving inside ascending channel with target at level of 1.4100. We think, today price may reach local target at 1.3990 and then form descending correction towards level of 1.3800. Later, in our opinion, instrument may continue its ascending movement towards main target at level of 1.4100.
14.03.2014

Fibonacci Retracements Analysis 14.03.2014 (EUR/USD, USD/CHF)

Eurodollar rebounded from several upper fibo-levels and started new correction. First target for bears is at level of 50%: if they break it, market will continue falling down. During correction, I opened sell order.
14.03.2014

Bill Williams’ Indicators Analysis 14.03.2014 (USD/CAD, NZD/USD)

At H4 chart of USD CAD, Alligator is sleeping. Indicators are very close to balance line; there is Fade bar on the MFI and might be Squat one too. I expect two fractals, equidistant from Alligator’s mouth.
14.03.2014

Forex Technical Analysis 14.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Euro is consolidating again. We think, today price may reach level of 1.3815, reverse upwards, and then continue its ascending movement towards level of 1.3990.
13.03.2014

Fibonacci Retracements Analysis 13.03.2014 (EUR/USD, USD/CHF)

Eurodollar has almost reached its main target, which is near several fibo-levels at 1.3970. Possibly, price may start new correction from current levels. I closed my buy order with profit and right now I’m out of the market.