Forex Technical Analysis & Forecasts


Currency technical analysis and forecast for July 2024
Currency technical analysis and forecast for July 2024
We are discussing the July 2024 prospects for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCHF, NZDUSD, and USDCAD. EURUSD The EURUSD pair has completed a decline wave towards 1.0666...
Technical Analysis & Forecast 14.06.2024
Technical Analysis & Forecast 14.06.2024
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a corrective wave, reaching 1.0814, and continued a decline wave. Today, the market is forming a narrow consolid...
Technical Analysis & Forecast 13.06.2024.
Technical Analysis & Forecast 13.06.2024.
EURUSD, “Euro vs US Dollar” The EURUSD pair has exited the consolidation range upwards amid the news, practically forming a correction of the last decline wave, with a ta...
Technical Analysis & Forecast 12.06.2024
Technical Analysis & Forecast 12.06.2024
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a wave, reaching 1.0717. Practically, the market continues to develop a consolidation range around 1.0750. Today...
Technical Analysis & Forecast 11.06.2024
Technical Analysis & Forecast 11.06.2024
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a wave, reaching 1.0732, and started to form a consolidation range above this level. Today, the market has breac...
Technical Analysis & Forecast 10.06.2024
Technical Analysis & Forecast 10.06.2024
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a correction, reaching 1.0901, and initiated a new decline wave. A consolidation range formed around 1.0826 and,...
Technical Analysis & Forecast 07.06.2024
Technical Analysis & Forecast 07.06.2024
EURUSD, “Euro vs US Dollar” The EURUSD pair is currently in a consolidation phase around 1.0881, with the range potentially expanding towards 1.0909 today. After reaching...
Technical Analysis & Forecast 06.06.2024.
Technical Analysis & Forecast 06.06.2024.
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a downward impulse towards 1.0854 and corrected towards 1.0893, with a consolidation range forming below this le...
Technical Analysis & Forecast 05.06.2024
Technical Analysis & Forecast 05.06.2024
EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a downward impulse to 1.0858 and corrected towards 1.0886, with a consolidation range forming below this level t...
Technical Analysis & Forecast for June 2024
Technical Analysis & Forecast for June 2024
EURUSD, “Euro vs US Dollar” The EURUSD pair continues to develop a decline wave towards 1.0444, representing the estimated target. Another wave structure targeting 1.0607...

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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