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.
21.06.2013
Euro is being corrected. Yesterday my limit sell order worked and now I’m in the market. Most likely, in the nearest future the pair will continue falling down towards the target area, which is between the levels of 61.8% and 50%.
21.06.2013
Euro reached only a local target of this descending wave. We think, today the price may return to the level of 1.3275 and then complete the first ascending wave by falling down and reaching the level of 1.3150. Later, in our opinion, the pair may start a more serious correction towards the level of 1.3280 and then continue moving downwards.
21.06.2013
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 indicators are in the red zone; there are Squat bars on the MFI. I’m keeping a buy order, a protective stop is in the black below the Alligator’s lips (green line).
20.06.2013
Yesterday Euro started moving downwards very fast. The bears are very strong and may continue pushing the price downwards. The target is the area between the levels of 50% and 61.7%. I’m planning to open a limit sell order.
20.06.2013
Euro started a fast descending movement. We think, today the price may continue falling down to reach the level of 1.3150 and then start a correction towards the level of 1.3280. Later, in our opinion, the pair may form another descending structure to reach the target at 1.3000.
20.06.2013
At the H4 chart of the USD/CAD currency pair, the Alligator is making a reverse upwards. The price is finishing a bullish fractal; the indicators are in the green zone; there is a Squat on the MFI. I’m keeping a buy order, a protective stop is below the Alligator’s lips (green line).
19.06.2013
At the H4 chart of the USD/CAD currency pair, the Alligator is sleeping. The divergence made the price to move upwards; the price is forming a bearish fractal; the indicators are in the grey zone; there is a Fade on the MFI. I’m keeping a buy order, a protective stop is below the Alligator’s mouth.
19.06.2013
Euro reached the level of 1.3400 and right now is moving close to its maximums. This is the only currency pair, which continues its tendency. We should note that the current wave has been completed and the price is not expected to continue moving upwards. Considering the fact that the market is not ready to make a reverse, we think the pair may start falling down towards the target at 1.3000.
