Forex Technical Analysis 2012/25/05 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD, NZD/USD) Forecast FX

24.05.2012

Forecast for May 25th, 2012

EUR/USD

The EUR/USD currency pair continues falling down. Currently the price is forming the descending pattern at the H1 chart. We should expect the pair to test the area of 1.2680, where one can consider conservative sales. Aggressive traders can try to buy the pair with the tight stop. Conservative traders are advised to wait until the price starts the correction and then consider opening short positions.



GBP/USD

The GBP/USD currency pair has reached all the targets of the descending pattern and right now continues moving inside the descending channel. The price is testing the channel’s upper border, we should expect the pair to continue falling down. One can consider selling the pair from the current levels with the stop above 1.5725, the target of the fall is the area of 1.5610. If the price breaks the channel’s upper border, we can expect Pound to be corrected.



USD/CHF

The USD/CHF currency pair continues moving upwards. The current structure of the price movement implies that Franc may start falling down towards the area of 0.9455. Aggressive traders can try to sell the pair with the tight stop. Conservative traders are advised to wait until the price starts moving downwards and then try to buy Pound. If the price breaks the channel’s lower border, this scenario will be cancelled.



USD/CAD

Canadian Dollar started growing up, thus cancelling the formation of the reversal pattern. Currently the price is moving inside the ascending channel. One can consider buying the pair near the level of 1.0215, the target of the ascending pattern is the area of 1.0305. If the price falls down lower than 1.0185, this scenario will be cancelled.



AUD/USD

Australian Dollar also continues falling down, right now the pair is moving inside the descending pattern. The closest area for sales is the level of 0.9825. Conservative traders are advised to wait until the price tests the channel’s upper border and then consider selling the pair. The closest target of the fall is the area of 0.9655. If the price grows up higher than 0.9825, this scenario will be cancelled.



NZD/USD

New Zealand Dollar continues moving inside the descending pattern, the closest target of the fall is the level of 0.7445. Currently we should expect the price to start growing up towards the area of 0.76, where one can consider selling the pair with the tight stop. If the price grows up higher than 0.7640, this 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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