Forex Technical analysis and forecasts

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 24.09 (EUR/USD, GBP/USD, USD/CHF, AUD/USD)

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.

Technical Analysis 23.09 (EUR/USD, NZD/USD, AUD/USD)

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.

Technical Analysis 22.09 (EUR/USD, GBP/USD, NZD/USD, AUD/USD)

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.

Technical Analysis 21.09 (EUR/USD, GBP/USD, USD/CHF)

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.

Technical Analysis 20.09 (EUR/USD, GBP/USD, USD/JPY, Euro Index)

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.

Technical Analysis 17.09 (EUR/USD, GBP/USD, USD/CHF, AUD/USD)

The EUR/USD currency pair continues to grow, however it will be slightly corrected. The price is testing the upper line of the rising channel, which is a spot where the 4th point of reference is formed. We can expect the pair to fall from this spot into the area of 1.2890. Only after that we will try to buy the pair with the target in the area of 1.3220.

Technical Analysis 16.09 (Dollar Index, EUR/USD, GBP/USD, USD/CHF)

Looks like the Dollar Index will continue to fall. Yesterday the price tested the neckline of the “head &shoulders” reversal pattern. At the moment the target of this fall is the area of 80.24, which means that, in comparison to the most currency pairs, Dollar will continue to fall.

Technical Analysis 15.09 (EUR/USD, GBP/USD, USDCAD, AUD/USD)

The rising expansion pattern has been completely formed. At the moment we can expect the correction of the pair. After the rising channel is broken, one can try to sell the pair with the stop behind the local maximum. The first target is 1.2895, the next one is 1.2835.