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.
29.09.2010
The EUR/USD currency pair shows a steady growth ignoring the correction. At the moment we should expect the pair to go up into the area of 1.3780. Then, judging by the symmetrical structure of the price, the price will be corrected to the level of 1.3570, where we will try to buy large amounts of Euro with the target in the area of 1.3952.
28.09.2010
The EUR/USD currency pair is moving according to the forecast. The RSI indicator has broken the support level (level of 1.3400) which means that similar support level has been broken at the price chart. One can try to sell the pair with the stop behind the local maximum.
27.09.2010
In case of the EUR/USD currency pair we can have “failure swing” reversal pattern forming at the RSI indicator. The target of this fall is the level of 1.3311. At the indicator we also can see divergence which can lead to the pair correction. One can try to sell the pair with the tight stop and move stop into the black as soon as possible.
24.09.2010
Incaseof EUR/USD currency pair we should expect the price to move downwards into the area of 1.3170. After the channel is broken one can try to buy the pair with the stop below 1.3130 and the target of 1.3500.The breaking of the local maximum in the area of 1.3430 will lead to the situation when this case scenario will be cancelled.
23.09.2010
The rising pattern had to be corrected a little bit. However, the price is still expected to fall into the area of 1.3155; only after the fall one can try to buy the pair. When the rising channel is broken, one can open short positions, but I don’t recommend you to sell the pair until the price is in the channel.
22.09.2010
After the “triangle” had been broken upwards, we saw Euro to grow for almost 200 points. And it seems like the “triangle” is the middle point of the rising symmetrical pattern with the general target in the area of 1.3440. There are no signals to buy the pair right now. We should wait until the price is corrected into the area where the 5th point of reference is formed, 1.3155. After that we can try to buy the pair.
21.09.2010
The currency pair didn’t fall much yesterday. Currently we can see the formation of “triangle” which can be broken both upwards and downwards, that’s why one is advised to trade towards the side where it will be broken. Thebestvariantisthefollowing: the price breaks the “triangle” downwards, moves to the 5th point of reference, and only after that it starts to grow. But, as we can see, the price has reached the lower side of the “triangle”, which means that it will probably be broken upwards.
20.09.2010
In case of the EUR/USD currency pair the rising channel has been broken. We can try to sell the pair with the stop above 1.3180. The target is the area of 1.2885, which is supposed to be a spot for the 5th point of reference, and the pair will continue to grow from here.
