Forecast for May 28th, 2012
The EUR/USD currency pair continues moving inside the descending trend. At the moment we should expect the price to test the channel’s upper border. One can consider selling the pair with the tight stop 1.2705 near the area of 1.2670. The closest target of the fall is the area of 1.2475. If the price breaks the channel’s upper border, this scenario will be cancelled.
The GBP/USD currency pair is also moving inside the descending pattern with the target in the area of 1.5540. One can try to sell the pair with the tight stop. If Pound grows up higher than 1.5745, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the support level.
The USD/CHF currency pair is also testing the channel’s upper border. We should expect the price to rebound from the current levels into the area of 0.9480, where one can consider buying the pair with the tight stop. The target of the growth is the level of 0.9655. The test of the trend’s descending line at the RSI is a signal to sell the pair.
Australian Dollar is moving according to the forecast, the price has tested the area for sales. One can consider selling the pair near the level of 0.9815, the target of the fall is the area of 0.9610. If the pair grows up higher than 9865, this scenario will be cancelled.