Technical analysis

15 November 2018
  • 18:42

    BTCUSD: Bitcoin Drops Ten Percent to 13-Month Lows

    BTCUSD: Bitcoin Drops Ten Percent to 13-Month Lows 15.11.2018

    The largest Cryptocurrency dropped 10 percent on Wednesday in a vicious move and hit all the stop losses below the 6,000 USD level, which helped to push the price down and it has settled at around 5,550 USD for now. These levels were last seen in October 2017, but more importantly, the decline below the key support of 6,000 USD has confirmed the longer-term bearish view.

    The next support might be at 5,200 USD, but bears may want to bring the price down to the psychological level of 5,000 USD. From the long-term view, the target for bears could be at the 200-week moving average, which is currently at 3,060 USD.

    On the upside, the main resistance is now at the mentioned level of 6,000 USD and while the Bitcoin trades below, the outlook seems bearish.

    The Bitcoin seems to be very oversold on the daily chart, which could lead to a possible relief rally, but before that, we might see another leg down first to the mentioned support of 5,200 USD.


    Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.


  • 18:12

    AUDUSD: Aussie Surges Above Second Bearish Trend Line

    AUDUSD: Aussie Surges Above Second Bearish Trend Line 15.11.2018

    It has been a positive day for the Australian Dollar so far and the AUDUSD pair was trading 0.75 percent stronger during the London session, hovering near 0.7285.

    Solid labour market data sent the Australian Dollar sharply higher today and the Aussie managed to jump above the second bearish trend line, and above the 100-day moving average, which switched the short- and medium-term trend to bullish.

    The next immediate resistance could now be at the previous swing top at 0.73 and then perhaps at previous highs and lows near 0.7320. If these two are taken out, further rise toward another strong selling level of 0.7450 could occur, where the 200-day moving average is located.

    On the downside, the support is now at the 100-day moving average near 0.7255 and if not held, the pair could decline back to the broken bearish trend line at 0.7200. While the pair trades above 0.72, the immediate trend seems bullish.

    The RSI indicator also confirms the current upward movement, as it is slowly climbing to new highs.


    Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.

November 2018
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002

All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.

게시된 모든 자료는 정보의 목적만을 위한 마케팅 커뮤니케이션이며, 이것에 의존하는 것은 손실로 이어질 수도 있습니다. 과거의 실적은 미래의 결과에 대해 신뢰할 수 있는 지표가 아닙니다.당사의 면책고지 전문을 읽어 주십시오.

Forex Technical Analysis

The basics of fundamental and technical analysis of the Forex market

The dynamics of the currency rates in currency markets depends on many reasons. That is why, in order to competently analyze Forex, we need to evaluate all economic performance indicators. This primarily relates to the macroeconomic factors such as GDP, the dynamics of inflation, interest rates set by central banks and other fundamental reasons of the formation and dynamics of market trends.

In order to take a decision quickly, it is necessary to be aware of any changes of the macroeconomic conditions which the investment climate directly depends on. This information is usually provided in special reports, releases of which can dramatically change currency quotations on the stock exchange. Such an extremely useful tool as a trader’s economic calendar is helpful in following macroeconomic reports.

Forex EUR USD technical analysis is based on the comparison of the current currency rates with the data for the previous periods as well as on the evaluation of the rate dynamics for particular periods of time by using different mathematical forecast methods. The received information is provided only in the form of statistical calculations among which various graphical tools come in handy. By considering charts and geometric models, an experienced trader quickly draws corresponding conclusions and takes a decision about operations with the currency pair.

The analysis of Forex market trends is a difficult task for a novice

The start of trading in the currency market is complicated by a large amount of information which varies in its diversity and gets constantly updated. No beginner can choose a trading signal and evaluate its significance in this flow of information.

Forex expert EUR USD technical analysis from the largest broker’s offices is a real help for a beginner. On the TeleTrade website, you will not only find all current information but also learn about the detailed analysis of equity, Forex and currency markets together with fundamental research on the macroeconomic factors and recommendations by the leading experts. The professional approach to market research is a guarantee of the quality of Forex analytics and the most lucrative investments and minimum risk.

Being guided by the results of expert multifactor analysis, it is practically impossible to miss a new Forex trend. This means that you will be able to build new trading strategies for the long term and move on to a fundamentally new profit level.

In order to provide an exhaustive picture of the Forex market, we constantly update the information, including current and significant events that are analyzed by our experts.

The basic postulates of Forex market technical analysis

Forex technical analysis is based on three main postulates:

  • The price is always governed by a trend

According to this axiom, the movement of prices always conforms to a specific Forex trend. In this regard, there is a possibility to single out the intervals of currency rate movements that go in the same direction within certain time frames. The direction can be upward (i.e. bullish trend, the rate continuously goes up), downward (i.e. bearish trend, the rate continuously goes down) and sideways (i.e. flat trend, gradual fluctuations of the currency rate within the same price range).

  • Everything is factored in to the price (the main postulate of the Dow theory – the base of technical analysis)

In accordance with this axiom, all the factors which may influence the currency are already factored in. Irrespective of the reasons and nature of events which affect the demand and supply, they are instantly factored in by the market. Thanks to this, while carrying out Forex technical analysis, there is no need to study macroeconomic factors.

  • History always repeats itself

According to this axiom, the dynamics of currency rates is always cyclic: currency prices go up and down, and sideways, etc. As a result, the methods of technical analysis successfully working in the past will also successfully work in the present and in the future. Such a cyclical nature is determined by certain aspects of the human psychology: consistent reactions to particular events lead to the fact that trends tend to reoccur.

The process of technical analysis is based on identifying typical patterns and distinct trends. A chart pattern is a distinct formation appearing on price charts. The most significant and well-known patterns are:

  • ‘Flag’ is a characteristic type of the graphical curve when there is an intermittent change in the currency rate amid a continuous uptrend or downtrend;
  • ‘Double top’ (two peaks on the top of an uptrend) is a so-called reversal pattern, a characteristic type of the graphical curve which signals about a possible trend reversal;
  • ‘Triple top’ (three peaks of the same range) and its variety called ‘head and shoulders’ (the first and third peak are lower than the middle one) – this is a reversal pattern, with a typical line break below the support level;
  • There is another pattern called triangle which is regularly encountered on charts in the currency market.

Forex trends identified in the process of technical analysis are the basis for making conclusions and taking decisions about closing and opening transactions.

Considering the availability of the programs allowing to quickly find the patterns and analyze the trends, many traders use only technical tools to assess the market situation.

However, we recommend you not to restrict yourself to using exclusively mathematical models when conducting the Forex analysis. An ideal variant is the complex account of the fundamental factors and results of technical analysis. Such an approach secures the most accurate forecast and, consequently, the most profitable Forex trading.