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.
08.07.2013
At the H4 chart of the USD/CAD currency pair, the Alligator is opening its mouth upwards. The price is forming a bearish fractal; AO and AC indicators are in the grey zone; there is a Squat bar on the MFI. I opened a buy order; a protective stop is below the Alligator’s teeth (red line).
08.07.2013
Euro is still moving inside a descending channel; the market wasn’t able to from reversal structures. We think, today the price may continue falling down towards the level of 1.2700 and then form reversal impulses. If the market fails to form a reversal pattern, the pair will continue moving downwards.
05.07.2013
Euro continues falling down and isn’t likely to make a reverse in the nearest future. It means that the bears should find themselves new targets. We can’t exclude a possibility that the price may reach the level of 78.6% from the descending movement that took place in February and March. The confirming level is the one of 100% (extension) from the latest descending movement.
05.07.2013
At the H4 chart of the USD/CAD currency pair, the Alligator is closing its mouth. Two-sided fractal reached the Alligator’s jaw; AO and AC indicators are near the balance line; there is a Squat bar on the MFI. I expect the pair to start moving upwards.
05.07.2013
Euro reached the targets of its descending structure. We think, today the price may form a reversal pattern to continue the correction with the target at 1.3155. However, an alternative scenario implies that the pair may continue falling down and then form a pivot point.
04.07.2013
Currently a local correction is taking place and may continue for a little longer. The main target is still the level of 78.6%. In addition to that, there are two more levels near it: 138.2% and 300%.
04.07.2013
Euro continues forming the fifth descending wave; the market has already reach its local target. We think, today the price may complete the fifth and final descending structure inside this wave at the level of 1.2900. Later, in our opinion, the pair may form a reversal structure for a new correction with the target at 1.3150.
04.07.2013
At the H4 chart of the USD/CAD currency pair, the Alligator is moving upwards, but staring to close its mouth. The price is forming a bullish fractal; AO and AC are in the red zone; there is a Green bar on the MFI and might be a Squat one too. I’m keeping my buy order; a protective stop is below the Alligator’s teeth.
