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.
28.01.2014
At H4 chart of USD/CAD, Alligator is still moving upwards, but starting to close its mouth slowly. Angulation is closed; indicators are in green zone; there is Squat bar on the MFI. After bullish fractal, I expect breakout of fractals to the downside.
27.01.2014
Euro is still being corrected; main target is close to several upper fibo-levels, near 1.3490. Earlier price rebounded from correctional level of 61.8% and started moving upwards.
27.01.2014
Euro continues forming ascending structure inside the fifth wave with target at 1.4100. We think, today price may consolidate for a while at current levels and form continuation pattern to reach level of 1.3800. Later, in our opinion, pair may consolidate again for some time and continue growing upwards.
27.01.2014
At H4 chart of USD/CAD, Alligator closed its mouth. Angulation is closed; indicators are in grey zone; there is Squat bar on the MFI. I expect breakout of fractals to the downside.
24.01.2014
Euro rebounded from correctional level of 61.8% and started moving upwards, that’s why during the next several weeks it better to buy than to sell. Most likely, in the nearest future price will break maximum. Main target is close to several upper fibo-levels, near 1.3970.
24.01.2014
Euro reached level of 1.3600 and continues moving upwards inside ascending trend towards target at 1.4100. We should note, that this target may be reached without any serious corrections.
24.01.2014
At H4 chart of USD/CAD, Alligator is still moving upwards. Angulation is open; indicators are in red zone; there is Squat bar on the MFI. Bearish fractal may reach Alligator’s lips (green line), and then I expect breakout of fractals to the upside.
23.01.2014
Euro is still forming its first ascending impulse. We think, today price may form the fifth structure of this impulse with target at 1.3600 and then start correction towards level of 1.3560. Later, in our opinion, pair may start forming another ascending structure to reach target at 1.3700.
