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.
30.01.2014
With Euro I’m in drawdown. Despite current correction, there is strong possibility that pair may start growing up towards several upper fibo-levels at 1.3960. Possibly, this ascending movement may start during the day.
30.01.2014
Euro is still moving inside descending correction. We think, today price may form ascending structure to reach level of 1.3800. Alternative scenario implies that pair may continue moving downwards to reach level of 1.3600 and then start new ascending movement towards main target at level of 1.4100.
30.01.2014
At H4 chart of USD/CAD, Alligator is still moving upwards. Indicators are in green zone again, AC is close to balance line; we can see divergence with AO; there might be Squat bar on the MFI. I expect breakout of fractals to the upside.
29.01.2014
Euro is still being corrected. I’m keeping my buy order with target close to several upper fibo-levels. I’ll move stop into the black as soon as price breaks latest maximum.
29.01.2014
Euro is still falling down; this movement may be considered as correction towards previous ascending wave. We think, today price may complete this correction and start moving upwards. Main target is at level of 1.4100.
29.01.2014
At H4 chart of USD/CAD, Alligator is still moving upwards. Indicators are in red zone, AC is close to balance line; we can see divergence with AO; there might be Squat bar on the MFI. After bullish fractal, I expect breakout of fractals to the downside.
28.01.2014
Euro is still moving inside flat pattern; earlier price rebounded from level of 61.8% and I decided to open buy order during the following correction. Main target for bulls is close to several upper fibo-levels, near 1.3960.
28.01.2014
Euro is still consolidating near level of 1.3700. We think, today price may leave this consolidation channel upwards to reach level of 1.3800 and then form new consolidation channel close to this level. Later, in our opinion, pair may continue growing upwards to reach main target at 1.4100.
