Forex Technical Analysis & Forecasts


Fibonacci Retracements Analysis 11.06.2021 (AUDUSD, USDCAD)
Fibonacci Retracements Analysis 11.06.2021 (AUDUSD, USDCAD)
AUDUSD, “Australian Dollar vs US Dollar”As we can see in the H4 chart, a convergence on MACD made the pair the correctional downtrend at 61.8% fibo and start a quick rising impulse. ...
Forex Technical Analysis & Forecast 11.06.2021
Forex Technical Analysis & Forecast 11.06.2021
EURUSD, “Euro vs US Dollar”After completing the descending structure at 1.2146 along with the ascending impulse towards 1.2195, EURUSD is consolidating below the latter level. If the...
Forex Technical Analysis & Forecast 10.06.2021
Forex Technical Analysis & Forecast 10.06.2021
EURUSD, “Euro vs US Dollar”EURUSD is still consolidating around 1.2178; after expanding the range up to 1.2214 and rebounding from this level, it is falling towards 1.214...
NZDCHF Wave Analysis – 9 June, 2021
NZDCHF Wave Analysis – 9 June, 2021
NZDCHF currency pair is currently trading near the support zone lying between the key support level 0.6420 and the lower daily Bollinger Band.
EURJPY Wave Analysis – 9 June, 2021
EURJPY Wave Analysis – 9 June, 2021
EURJPY currency pair recently reversed up from the support zone lying between the key support level 132.80 and the 38.2% Fibonacci correction of the upward from the start of May.
Fibonacci Retracements Analysis 09.06.2021 (GBPUSD, EURJPY)
Fibonacci Retracements Analysis 09.06.2021 (GBPUSD, EURJPY)
GBPUSD, “Great Britain Pound vs US Dollar”As we can see in the H4 chart, after a breakout of the high at 1.4241 and a divergence on MACD, the pair has started a new corre...
Forex Technical Analysis & Forecast 09.06.2021
Forex Technical Analysis & Forecast 09.06.2021
EURUSD, “Euro vs US Dollar”EURUSD is still consolidating around 1.2178. Today, the pair may fall to break 1.2144 and then continue trading downwards with the target at 1....
EURGBP Wave Analysis – 8 June, 2021
EURGBP Wave Analysis – 8 June, 2021
EURGBP currency pair recently reversed up from the support area lying between the major support level 0.8585 (which has been reversing the price from the middle of April), lower dail...
CHFJPY Wave Analysis – 8 June, 2021
CHFJPY Wave Analysis – 8 June, 2021
CHFJPY currency pair recently reversed up from the support zone lying between the key support level 121.50 (former resistance from May) and the 38.2% Fibonacci correction of the upwa...
Fibonacci Retracements Analysis 08.06.2021 (EURUSD, USDJPY)
Fibonacci Retracements Analysis 08.06.2021 (EURUSD, USDJPY)
EURUSD, “Euro vs US Dollar”The H4 chart shows another rising impulse within the descending correction that earlier tested the local support at 61.8% fibo (1.2103). The cu...

Technical analysis is an effective tool of trading

Even inexperienced traders know that serious analytical research is a guarantee for successful trading on the foreign exchange market. The Forex technical analysis assumes the market’s behavior investigation in the past, for the purpose of determination the trader’s optimal behavioral model and trading strategy. The Daily Forex technical analysis rely on assumption that the market possesses its own memory, hence, the future price move can be determined, grounding on the objective laws of the price behavior in the past.

Technical Analysis - its Essence and Mission

Practically any trader knows that the Forex technical analysis is a wide-spread method in order to forecast the price change. The Daily Forex technical analysis is built by the trader on the charts of quotations change for certain periods of time. In other words, the Forex technical analysis means the quotation’s history research, by the instrumentality of which the users might determine the possible trend’s direction in the future.

The Most Important Types and Elements of Technical Analysis

The present free Forex technical analysis is divided into several types. One of the most popular is the candlestick analysis. Its essence is to find in the quotation’s history the standard reversal patterns or trend continuation (“Head and Shoulders”, “Wedge”, “Double Top”, “Triangle”, etc.).  Appearance of any of the above mentioned figures on the chart means that the trader might forecast the future price move, as well as its possible breakout. Regarding the auxiliary elements of the present type of analysis, the Forex technical analysis indicators are the most significant ones, which can be found on any platform. There are various types of indicators therefore any trader may work out its own trading strategy for any instrument, grounding on the data of one or another indicator.  Exactly the Forex technical analysis & forecasts worth recommending for the novice traders, as its various automatic programs, indicators and expert advisors might be helpful and useful.   

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