Forex Technical Analysis 2012/06/06 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

05.06.2012

Forecast for June 6th, 2012

EUR/USD

The EUR/USD currency pair has grown up a bit, but hasn’t reached the target in the area of 1.2615. At the moment we should expect the price to fall down towards the level of 1.2360, where one can consider buying Euro with the tight stop. The test of the trend’s ascending line at the RSI at the daily chart is an additional signal to buy the pair. If the price falls down lower than 1.2340, the descending trend may continue.



GBP/USD

The GBP/USD currency pair is still under pressure, it hasn’t grown up much. If the price falls down lower than 1.5270, we should expect it to continue moving downwards. The target of the fall is the area of 1.5165. One can consider aggressive sales from the current levels with the stop above 1.54.



USD/CHF

The USD/CHF currency pair is moving downwards according to the forecast. If the price grows up higher than 0.97, one can consider selling it with the tight stop. The closest target of the fall is the area of 0.95. We recommend to increase the amount of short positions only after the price breaks the level of 0.9560. If the pair grows up higher than 0.9750, this scenario will be cancelled.



AUD/USD

Australian Dollar is moving according to the forecast. At the moment we have the ascending pattern forming with the target in the area of 0.9850. One can consider selling the pair from the current levels with the stop below 0.9670. The test of the trend’s ascending line at the RSI is an additional signal to buy the pair. If the price breaks the channel’s lower border, this scenario will be cancelled.



NZD/USD

New Zealand Dollar is moving inside “triangle”, at the moment the price is in the middle of the pattern. One can consider selling the pair only after the price breaks the level of 0.7455. The target of the fall in this case will be the area of 0.7240. However, the most possible scenario implies that the price may break the pattern upwards and start a deep correction. We recommend to buy the pair only after the price breaks the level of 0.76. The target of the growth is the area of 0.7840. Right now one is advised to stay out of the market.

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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