Forex Technical Analysis

Technical analysis maintains that all information is already reflected in the price and that price movements lead to recognizable price chart patterns. It therefore tries to determine a trend on the grounds that sentiment changes may, at least in part, forecast trend changes.

tradertip

Our preferred outlook is for a drift down to 1.1340 or below 1.1318. Resistances are at 1.1362 and 1.1375. A rise above 1.1397 would delay but not abort this expected fall.

  • Key Point1.1355
  • Entry Point1.1368
  • Elliott1.157
  • Closing1.1362
  • Projection1.1302
  • Trendline 11.1385
  • Trendline 21.1385
Elliott Wave

flat correction down

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