Forex Technical Analysis 2012/18/01 (EUR/USD, GBP/USD, USD/CHF, AUD/USD) Forecast FX

17.01.2012

Forecast for January 18th, 2012

EUR/USD

The EUR/USD currency pair is moving according to the forecast, by the moment the price has reached the area for sales, 1.2755. One can consider opening short positions with the tight stop. The final target of the pattern is the area of 1.2543. If the price breaks the upper border and leaves the rising channel, this case scenario will be cancelled.


GBP/USD

Pound continues moving inside the descending channel, one can consider selling the pair after the price completes the symmetrical pattern with the target in the area 1.5060. If the price breaks the upper border and leaves the channel, this case scenario will be cancelled. We recommend you to increase the amount of sales only after the price breaks the level of 1.5295.


USD/CHF

Franc is also moving according to the forecast, and by now it has reached the area for purchases. One can consider opening long positions with the tight stop, the closest target of the growth is the area of 0.9648. The next target is the level of 0.9743. If the price breaks the lower border and leaves the rising channel, this case scenario will be cancelled.


AUD/USD

At the daily chart of the AUD/USD currency pair the price continues forming “triangle” pattern. At the moment the price is testing the pattern’s upper border, we should expect it to rebound from the border and start moving downwards. The test of the trend’s descending line at the RSI is an additional signal to sell the pair. If the price breaks the upper border and leaves the pattern, this case scenario will be cancelled.



At the H4 chart the price continues forming the rising pattern. The pair has almost reached the targets and we should expect it to be corrected to the level of 1.0090. One can consider selling the pair with the tight stop.


Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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