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.
19.08.2013
At the H4 chart of the USD/CAD currency pair, the Alligator is sleeping. The price is forming a bearish fractal; AO and AC are very close to the balance line; there is a Green bar on the MFI. I opened one more sell order; a protective stop is above bullish fractals.
19.08.2013
Euro is moving inside an ascending wave with the target at 1.3600; the market has already formed three waves and is about to start a correction inside the fourth one. The target of this correction is (at least) at 1.3200, or even at 1.2990. Later, in our opinion, the pair may make a reverse and start moving upwards inside the fifth wave.
16.08.2013
Yesterday the bulls made a fast ascending movement. During the previous a correction, I opened a short-term buy order. The target is in the area formed by three fibo-levels, 61.8%, 123.6%, and 38.2%. I’ll move the stop to the level where the order was opened, as soon as the price breaks the maximum.
16.08.2013
At the H4 chart of the USD/CAD currency pair, the Alligator is opening its mouth downwards again. The price is forming a bullish fractal; AO and AC are in the red zone, very close to the balance line; there is a Fade bar on the MFI. I opened one more sell order; a protective stop is above the Alligator’s teeth (red line).
16.08.2013
Euro continues growing up towards the target at 1.3600. We think, today the price may reach the level of 1.3400, then fall down a little bit towards the level of 1.3300, and then continue moving upwards to reach the main target.
15.08.2013
Euro is forming an ascending structure. The main scenario implies that the price may grow up and reach the level of 1.3600. An alternative scenario suggests that the pair may continue this correction towards the level of 1.3120. If the price continues falling down, it may reach the level of 1.3330 and rebound from it downwards.
15.08.2013
Euro started a local correction. However, the bulls may try to start a new ascending movement before the price continues falling down. During a pullback, I opened a short-term buy order with Take Profit at the level of 61.8%.
15.08.2013
At the H4 chart of the USD/CAD currency pair, the Alligator is sleeping. The price is finishing a bearish fractal; AO and AC are in the grey zone; there are three Squat bars in a row on the MFI. I’m keeping my sell order; a protective stop is above the Alligator’s mouth.
