Forex Technical Analysis 2012/14/06 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, NZD/USD) Forecast FX

13.06.2012

Forecast for June 14th, 2012

EUR/USD

The EUR/USD currency pair continues moving inside the ascending channel, the closest target of the growth is the area of 1.2650. One can consider buying Euro with the tight stop from the current levels. At shorter time frames we can see that the price has formed “upside down head & shoulders” reversal pattern. The final target of the growth is the area of 1.2810. If Euro falls down lower than 1.2450, this scenario will be cancelled. We recommend to increase the amount of long positions only after the price breaks the level of 1.2565.



GBP/USD

The GBP/USD currency pair is also moving inside the ascending channel, the closest target of the growth is the area of 1.5655. One can consider buying Pound aggressively from the current levels with the stop below 1.5525 and increase the amount of long positions only after the price breaks the level of 1.5615.



USD/CHF

The USD/CHF currency pair continues moving inside the descending channel, one can consider selling it from the current levels. The target of the fall is the area of 0.9365. If the price grows up higher than 0.9665, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the level of 0.9530.



USD/CAD

The price is falling down at the weekly chart of Canadian Dollar. The RSI indicator faced the resistance form the trend’s descending line, we should expect the pair to start falling down from the current levels. If the indicator grows up higher than 70, this scenario will be canceled. At the H4 chart the price continues moving inside the descending channel. One can consider selling the pair from the current levels and increase the amount of short positions only after the price breaks the level of 1.0205. If Canadian Dollar grows up higher than 1.0325, this scenario will be cancelled. The closest target of the fall is the support area of 1.01, the next one will be level of 0.9970.



NZD/USD

New Zealand Dollar is still being corrected upwards, right now the price is near the ascending channel’s lower border. One can consider buying the pair with the tight stop below 0.7710, the target of the growth is the area of 0.7885. If the price breaks the channel’s border and falls down lower than 0.7660, еры 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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