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.
03.07.2013
Euro continues falling down; the bears are pushing the price towards the level of 78.6%. If later the pair rebounds from it, the market may start a correction. Nevertheless, the stops on my sell orders are already in the black.
03.07.2013
At the H4 chart of the USD/CAD currency pair, the Alligator is moving upwards. The price is forming a bearish fractal; AO and AC are in the grey zone; there is a Fade bar on the MFI. I’m keeping my buy order; a protective stop is below the Alligator’s teeth.
03.07.2013
Euro continues moving inside a descending channel; the market has left triangle pattern downwards. We think, today the price may reach the level of 1.2950. Later, in our opinion, the pair may test the pattern’s lower border from below and then continue falling down towards the level of 1.2900.
02.07.2013
Euro is moving inside a narrowing trading range; the market is forming triangle pattern near the level of 1.3030. We think, today the price may continue moving downwards inside the pattern towards the level of 1.2900. Later, in our opinion, the pair may start a new ascending structure towards the level of 1.3160.
02.07.2013
Euro is still consolidating between the level of 50% and 61.8%. However, the main trend is still bearish. If the pair breaks the level of 61.8%, the price will continue falling down towards the level of 78.6%.
02.07.2013
At the H4 chart of the USD/CAD currency pair, the Alligator is slowly moving upwards. The price is forming a bullish fractal; AO and AC are near the balance line in the grey zone; there is a Fade bar on the MFI and might be a Squat one too. I opened a buy order with a protective stop below the Alligator’s teeth.
01.07.2013
Euro is still moving downwards. The price slowed down at the level of 61.8%, but it looks like the bears are going to stop. Most likely, the pair will continue falling down towards the level of 78.6%, where there are several more fibo-levels.
01.07.2013
Euro is still moving near its minimums. We think, today the price may continue falling down inside the fifth wave with the target at 1.2900. On its way to this target the market is expected to move from 1.3030 to 1.2995 and then from 1.2995 to 1.2900. Later, in our opinion, the pair may start forming an ascending correction to return to the level of 1.3135.
