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  • Technical analysis is a method for projecting the future direction of the price of financial market assets. Furthermore, it can also be used in the setting of potential price targets. Also read our Expert forex market forecasts
  • The direction of future prices are determined by analysing previous market data; primarily price, time and volume.
  • Technical analysis predictions are rejected by proponents of Efficient Market Hypothesis and Random Walk Theory, which predicts that future prices are effectively unpredictable.
  • Technical analysis uses many different tools, methods and techniques, but primarily it employs price charts plotted over time to identify price patterns and trends.
  • For this reason, Technical Analysts are also referred to as Chartists.

In this section we will provide articles to help develop the reader’s technical analysis knowledge base and to highlight ways in which technical analysis tools can be used for successful trading decisions.

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Intermediate

Elliott wave Analysis: S&P500 and EURJPY Update

Posted on by Gregor Horvat

Stocks rallied yesterday, which has been technically expected as we see E-mini SP500 futures moving down into fifth wave of decline with a wedge shape. This pattern was broken to the upside, so market is now in a three wave corrective bounce. It’s a temporary recovery that can be slowed down at 2755-2770 area, but … Continued

Expert

Shaun Downey’s Weekly Round up

Posted on by Shaun Downey

Dollar Index tries to reassert uptrend Negative signals appear on the Euro The Pound breaks back down EURGBP finds support at the bottom of the sideways trend Crude Oil holds key to Loonie’s path

Intermediate

UK Pound set for a more positive statement

Posted on by Steve Miley

The GB Pound FX rate has seen a strong rebound against major currencies from late October, after positive soundings from the top of the UK Government regarding a Brexit deal, of particular note has been the GBPUSD rally. The GBPUSD advance has been reinforced by a weakened US Dollar (after recent October strength), driven by … Continued

Intermediate

Elliott wave Analysis: AUDUSD In A Bearish Trend

Posted on by Gregor Horvat

AUDUSD is reversing higher for the last two weeks, moving into a new corrective recovery which can be wave four of a higher degree. Fourth waves can retrace back to the area of a former wave four which in our case is at 0.7451, so there is room for more upside this month. AUDUSD, Daily … Continued

Expert

BitCoin Breaks Down

Posted on by Shaun Downey

After a long period of sideways activity, Bitcoin price breaks lower and shifts the dynamic. Nearby supports are close by and represent the final “line in the sand” for bulls.

Expert

Dollar Index breaks up and targets major monthly level

Posted on by Shaun Downey

Dollar Index attempts to break and target major monthly level. The Pound fails to reach breakdown point and extends lower. The Euro has one more major support basis Spot and one on the Futures, that will come close to matching the Dollar Index point.

Intermediate

EURUSD Recovering for A Pullback, while DAX Looks Towards New Lows

Posted on by Gregor Horvat

EURUSD made a five-wave decline from the 1.163 highs which we labelled as end of a bigger correction of wave B/2. Current five-wave drop can now be part of an ucpoming bearish continuation within wave C/3, with current rally being recognized as a possible three-wave correction. This correction can be a simple a-b-c one, with … Continued

Expert

Pound Update

Posted on by Shaun Downey

Early rally in the week fails at key resistance. Price then breaks down Thursday, leaving no immediate support

Intermediate

EURUSD and GBPUSD In A Temporary Consolidation

Posted on by Gregor Horvat

EURUSD can be counted in five waves from 1.1430 low so more upside can be coming after a three wave set-back which is still underway. Ideally there will be an a-b-c set-back into 1.1500 area where bounce may show up this week. EURUSD, 1h GBPUSD saw a sell-off recently, so a new corrective set-back is … Continued

Intermediate

GBPUSD: Two Curious Currencies

Posted on by Stephen Pope

U.S. equity declines have tripped the Dollar Last time the market had such loses was when the UK voted to leave the EU Who has the control over the economy, Chairman Powell or President Trump? There is a small matter of Brexit negotiations, they should put Sterling on the backfoot In the past week, over … Continued

Expert

Introduction to 4th Dimension by Trading Time on GBPUSD (Cable)

Posted on by Shaun Downey

The first of a new series of video analysis by Shaun Downey using his unique methods that concentrate on Support and Resistance and the patterns associated with them, from his book New Methods in Technical Analysis. This first video gives a brief insight into his methods and uses the current set up in the British Pound … Continued

Intermediate

German DAX, USDJPY and 10 Year US Notes

Posted on by Gregor Horvat

We have seen a real crash yesterday during the US session, which caused a drop of global indices across the globe. We see some fear spreading, which may cause even more selling in upcoming sessions. German DAX is making a bearish impulse, now slowing down around 11500 which can be a temporary low of wave … Continued

Intermediate

USDCAD Eyeing More Upside – Elliott Wave Analysis

Posted on by Gregor Horvat

On USDCAD we identified a completed Elliott wave leading diagonal within higher degree wave 1 that sent price down into a wave 2 correction. This correction can be ending near the 1.28 area, where the lower channel lines sits and Fibonacci ratio of 50.0 is. All being said, a rally in impulsive fashion towards the … Continued

Intermediate

USDJPY Trading in A Bigger Correction – Elliott Wave Analysis

Posted on by Gregor Horvat

On the daily chart of USDJPY we see price unraveling a part of a bigger, complex correction, known as an Elliott wave triangle pattern. A EW triangle is a five-legged pattern, which moves sideways and can be contracting or expanding. In our case we see it contracting, and currently unfolding leg D with its three-wave … Continued