Forex Technical Analysis 2012/24/04 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD) Forecast FX

23.04.2012

Forecast for April 24th, 2012

EUR/USD

The correction continues. At the moment the price is forming the ascending pattern with the target in the area of 1.3290. One can consider buying the pair near the ascending channel’s lower border in the area of 1.3110. The test of the trend’s ascending line at the RSI will be an additional signal to buy the pair. If Euro falls down lower than 1.3100, this scenario will be cancelled. We recommend to increase the amount of long positions only after the price breaks the level of 1.3195.


GBP/USD

Pound continues moving according to our forecast, at the moment the price is testing the ascending channel’s lower border. The target of the growth is the area of 1.6220, one can consider buying the pair from the current levels. If the price falls down lower than 1.6045, this scenario will be cancelled. We recommend to increase the amount of purchases only after the price breaks the level of 1.6125.


USD/CHF

Franc is also being corrected. The price is forming the descending symmetrical pattern, the target of the fall is the area of 0.9045. One can consider selling the pair near the level of 0.9150. If the price grows higher than 0.9170, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the level of 0.9105.


USD/CAD

Canadian Dollar has also grown up a bit, the price continues forming the descending pattern. The target of the fall is the area of 0.9840, one can consider selling the pair from the current levels. If the price grows up higher than 0.9990, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the level of 0.9925.


AUD/USD

Australian Dollar continues falling down. At the moment we should expect the price to test the trend’s ascending line at the RSI, and then try to buy the pair near the level of 1.0260. If the price reaches a new local minimum in the area of 1.0220, this scenario will be cancelled. The target of the growth is the resistance level of 1.0410.


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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