04.04.2012 / 17:58
The EUR/USD currency pair broke “triangle” pattern downwards. Currently the price is completing the pattern, the target of which is in the area of 1.3120. At the H1 chart of the pair we can see the formation of a descending pattern with the target at the level of 1.31. We should expect the pair to be corrected to the level of 1.32, where one can consider selling it. The test of the trend’s ascending line at the RSI is an additional signal for the correction. Judging by the price structure of Euro, we can’t exclude a possibility that it may start growing up from the current levels into the area of 1.33, and then continue falling down.
04.04.2012 / 08:54
Yesterday’s fall of the price makes us return to the previous chart structure. Wave 2 has totally corrected the first one. Most likely, the price will start forming wedge pattern in wave (3). In the near term, we can expect the pair to reach a new local minimum.
04.04.2012 / 09:25
The correction started from the 4/8 level, and it is supported by the H4 Super Trend’s line. Most likely, the price will continue moving downwards. The target for the bears is the 6/8 level.
04.04.2012 / 13:43
GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud forming “Dead Cross” (1), Tenkan-Sen is directed downwards, and Kijun-Sen is horizontal. Ichimoku Cloud is going up (2), Senkou Span A is moving downwards, and Senkou Span B is horizontal. Chinkou Lagging Span is below the chart and rebounding from it downwards, the price is inside Kumo Cloud. In the near term, we can expect the price to fall down to Senkou Span B.
04.04.2012 / 13:19
The H4 chart of the EUR/USD currency pair indicates a bearish tendency on the descending trend. Window 2011.10.03 is a resistance level, the price made a reverse after Doji and Tweezers patterns. Three Line Break and Heiken Ashi candlestick charts confirm a descending trend.