Forex Forecasts by date

Although the EUR/USD currency pair has left the descending channel, it hasn’t started moving upwards. At the moment there is a possibility that the price may form a reversal pattern at the daily chart of the pair. Aggressive traders are advised to consider buying the pair from the current levels. If the price falls down lower than 1.3100, this scenario will be cancelled. Conservative traders are recommended to buy Euro with the stop below 1.3120 only after the price breaks the level of 1.3170. The closest target of the growth is the area of 1.3235. Judging by the daily chart analysis we can see that the price is still moving inside “triangle” pattern, however, there is a possibility that the pattern may be broken upwards.

New Zealand Dollar continues moving downwards. It looks like the price is forming a bearish impulse in wave (3). Earlier wave (2) was finished in the form of zigzag pattern. All these factors indicate that the pair may continue falling down.

After rebounding from the 2/8 level, the pair is trying to enter an “oversold zone” once again. Yesterday the Super Trends’ lines formed “bearish cross”. Most likely, the price will continue moving downwards, and if it breaks the -2/8 level, the lines at the chart will be redrawn.

GBPUSD, Time Frame Н4 – Tenkan-Sen and Kijun-Sen intersected above Kumo Cloud forming “Dead Cross” (1), Tenkan-Sen is directed upwards, and Kijun-Sen is horizontal. Ichimoku Cloud is very narrow and going up (2), Senkou Spans A and B are directed upwards. Chinkou Lagging Span is on the chart, the price is below Tenkan-Sen and Kijun-Sen, above Kumo Cloud. In the near term, we can expect resistance of Tenkan Sen and the attempts of the price to stay inside the cloud.

The H4 chart of the EUR/USD currency pair shows a bearish correction on the ascending trend, which is indicated by Engulfing Bearish pattern. Window 2011.11.25 is a resistance level. Three Line Break chart confirms the correction, Heiken Ashi candlesticks indicate a bullish pullback.