Forex Technical Analysis 2012/04/04 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, USD/CAD) Forecast FX

03.04.2012

Forecast for April 4th, 2012

EUR/USD

The EUR/USD currency pair continues moving according to our forecast. The price is forming “triangle” pattern and currently testing the pattern’s lower border. One can consider buying Euro with the tight stop and increase the amount of purchases only after the price breaks the level of 1.3385. The target of “triangle” pattern is the area of 1.3515. If the pair falls down lower than 1.3265, this case scenario will be cancelled.


GBP/USD

Pound is also moving according to the forecast, the price rebounded from the ascending channel’s upper border. At the moment we should expect the pair to fall down to the level of 1.5940, where one can consider buying Pound with the tight stop. The target of the growth is the area of 1.62. One can also consider buying the pair after the price breaks the level of 1.6070.


USD/CHF

Franc was corrected a bit, however, the pair is still moving inside the descending channel. One can consider selling the pair with the tight stop near the channel’s upper border. The target of the fall is the area of 0.8860. We recommend you to increase the amount of short positions only after the price breaks the level of 0.90. If the pair grows higher than 0.9070, this case scenario will be cancelled.


NZD/USD

New Zealand Dollar continues moving inside the sideways trend. The pair tested the upper border of this range; however, it didn’t break the border upwards. At the moment the price is forming an ascending pattern at the H1 chart and testing the ascending channel’s lower border. One can consider buying the pair with the tight stop. The target of the growth is the area of 0.8330. If the price falls down lower than 0.8190, this case scenario will be cancelled.


USD/CAD

At the M30 chart of the USD/CAD currency pair the price is forming a descending pattern. One can consider opening short positions near the level of 0.9925. The target of the fall is the area of 0.9860. If the price grows higher than 0.9955, 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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question