Forex Forecasts by date

The EUR/USD currency pair is moving according to the forecast, it has already reached the first target at the level of 1.2540. At the moment we should expect the price to continue moving downwards into the area of 1.24. Judging by the structure of the daily chart we may assume that in the nearest future the pair may fall down towards the level of 1.21. Currently we can recommend to sell Euro from the level of 1.25 with the stop above 1.2545 and increase the amount of long-term sales after the price breaks the level of 1.24. If the price grows up higher than 1.27, the scenario, which implies that the price may fall down into the area of 1.21, will be cancelled.

It looks like wave 2 has been finally completed in the form of zigzag pattern. There is a possibility that the price may make a reverse in the nearest future and start falling down inside the third wave. The correction was quite fast, that’s why in order to enter the market one is advised to wait until the price forms an initial descending impulse.

The market is moving near the daily Super Trend’s line again. Yesterday the Super Trends’ lines formed “bearish cross”. The price may continue moving downwards in the nearest future. The first target in this case will be the 1/8 level.

GBPUSD, Time Frame H4 – Indicator signals: Tenkan-Sen and Kijun-Sen are still under pressure of “Golden Cross” (1), but Tenkan-Sen is turning downwards, and Kijun-Sen is horizontal. Kumo Cloud is going up, but is very narrow (2), Senkou Spans A and B are also horizontal. Chinkou Lagging Span is on the chart, the price is below the indicator’s lines. Short-term forecast: we can expect resistance of Senkou Span A and the price to continue moving downwards.

The H4 chart of the EUR/USD currency pair shows a bearish tendency on the sideways trend, which is indicated by Tweezers pattern. Window 2012.01.06 is a support level. Three Line Break chart indicates an ascending movement, Heiken Ashi candlesticks confirm the bearish tendency.