Forex Technical Analysis 2012/26/01 (EUR/USD, GBP/USD, USD/CHF, NZD/USD) Forecast FX

25.01.2012

Forecast for January 26th, 2012

EUR/USD

The EUR/USD currency pair is moving according to the forecast. Right now the closest target of the fall is the area of 1.2817. One should hold positions opened, and consider opening additional short positions with the tight stop. If the price reaches a new local maximum, this case scenario will be cancelled.



As an alternative scenario we should consider the formation of “head & shoulders” reversal pattern. In this case we should expect the price to test the area of 1.2858, where one can consider buying the pair aggressively with the tight stop. The final target of the reversal pattern is the area of 1.3508.


GBP/USD

Pound is also moving according to the forecast, we should expect the price to fall down to the level of 1.5436. One can consider selling the pair with the tight stop above 1.5590 and increase the amount of short positions only after the price breaks the level of 1.5525. If the price grows higher than 1.5625, this case scenario will be cancelled.


USD/CHF

Franc continues moving inside the descending symmetrical pattern, the target of the fall is the area of 0.9211. At the moment we should expect the price to test the level of 0.9402, where one can consider selling the pair with the tight stop. If the price breaks the channel’s upper border, this case scenario will be cancelled.


NZD/USD

New Zealand Dollar broke the trend’s rising line at the RSI, we should expect the start of the descending movement with the target in the area of 0.7780. One can consider selling the NZD/USD currency pair with the tight stop. If the price reaches new local maximums, this case scenario will be cancelled.


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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