01.08.2012 / 18:01
The EUR/USD currency pair continues moving inside the descending channel, the price is still testing the area of 1.23. One can consider selling Euro from the current levels, the closest target of the fall is the area of 1.2220. The final target of the descending pattern is the area of 1.1980. If the price grows up higher than 1.24, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the level of 1.2220.
01.08.2012 / 11:24
We may assume that the price is finishing wave 2 in the form of zigzag pattern. On the minor wave level the pair is forming an impulse inside wave [C]. Earlier the price completed wave [B] in the form of flat pattern. In the future we can expect the pair to make a reverse and start forming an initial descending impulse.
01.08.2012 / 11:54
The price is moving in the middle of the H1 chart. The Super Trends’ lines have formed “bullish cross”, the price may continue falling down. If the bulls are able to keep the price above the 5/8 level, the pair will continue growing up towards the 8/8 one.
01.08.2012 / 14:16
The H4 chart of the EUR/USD currency pair shows a bullish tendency on the descending trend. The ascending movement of the price was stopped by Dark Cloud pattern. The closest Window may become a resistance level. Three Line Break and Heiken Ashi candlesticks charts indicate a bullish pullback.
01.08.2012 / 13:41
GBPUSD, Time Frame H4 – Tenkan-Sen and Kijun-Sen are under pressure of “Golden Cross” (1), Tenkan Sen is directed downwards, and Kijun-Sen is horizontal. Ichimoku Cloud is going up (2), Senkou Spans A and B are horizontal. Chinkou Lagging Span is above the chart, the price is in the channel between Tenkan-Sen and Kijun-Sen. Short term forecast: in case the price breaks Kijun-Sen, the pair may continue falling down.