Forex Technical Analysis 2012/16/04 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, USD/RUR) Forecast FX

13.04.2012

Forecast for April 16th, 2012

EUR/USD

The EUR/USD currency pair continues moving inside the ascending channel, the closest target of the growth is the area of 1.3275. The RSI indicator was supported by the trend’s ascending line, we should expect a rebound and the start of the ascending movement. One can consider buying the pair from the current levels. If the price falls down lower than 1.3120, this case scenario will be cancelled.


GBP/USD

The GBP/USD currency pair is being corrected, at the moment there is a possibility that the price may grow up into the area of 1.6020. One can consider buying Pound with the tight stop near the level of 1.5905. The test of the trend’s ascending line at the RSI is an additional signal of the growth. If the price falls down lower 1.5870, this case scenario will be cancelled.


USD/CHF

Franc continues moving according to the forecast. The RSI indicator broke the trend’s ascending line and then returned to the broken line. We should expect a rebound and the start of the descending movement, the target of the fall is the area 0.9050. If the pair grows higher than 0.9185, this case scenario will be cancelled.


NZD/USD

As we predicted earlier, New Zealand Dollar broke “triangle’s” upper border, we should expect the pair to continue moving upwards. At the M30 chart of the pair the price is forming the ascending pattern, one can consider buying the pair from the current levels. If the price falls down lower than 0.8255, this case scenario will be cancelled.


USD/RUR

At the daily chart of the USD/RUR currency pair the price is forming the descending symmetrical pattern, the target of the fall is the area of 27.80. However, at the moment we should expect the pair to grow up towards the channel’s lower border in the area of 31.20, where one can consider selling it with the tight stop. The trend’s broken line at the RSI is an additional signal of the growth. If the price breaks the upper border and leaves the descending channel, 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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