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.
20.01.2014
Euro is still moving downwards; target levels are very close. During correction, I opened another sell order; stop on both trades is placed at local maximum. If later price rebounds from lower levels, pair may start new and deeper correction.
20.01.2014
Euro continues moving downwards and expanding its consolidation channel; market is forming divergent triangle pattern. We think, today price may form reversal structure to continue growing up. The first target is at level of 1.3700. Later, in our opinion, pair may consolidate and then move upwards again to reach target at 1.3800.
20.01.2014
At H4 chart of USD/CAD, Alligator is sleeping. Indicators are in red zone; we can see divergence with AO; there might be Squat bar on the MFI. Bearish fractal may reach Alligator’s jaw (blue line).
17.01.2014
Euro is still forming consolidation channel. We think, today price may continue growing up to break level of 1.3700, consolidate for a while, and then move upwards to reach target at 1.3800.
17.01.2014
At H4 chart of USD/CAD, Alligator is going to sleep. Price is forming bearish fractal; indicators are in green zone; we can see divergence with AO; there might be Squat bar on the MFI. Bearish fractal may reach Alligator’s jaw (blue line).
17.01.2014
Euro is still being corrected; earlier price rebounded from correctional level of 38.2%, which means that pair may start moving downwards again. I’ve got only one sell order so far; target is several fibo-levels near 1.3490.
16.01.2014
After rebounding from level of 38.2% several times, Eurodollar started moving downwards. Right now, price is being corrected, but may start new descending movement in the nearest future. Main target for bears is several fibo-levels near 1.3490.
16.01.2014
Euro continues moving downwards; this movement may be considered as correction. We think, today price may grow up to break level of 1.3686, consolidate for a while, and then continue moving upwards to reach target at 1.3800.
