Forex Technical Analysis 2012/27/06 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, EUR/JPY) Forecast FX

26.06.2012

Forecast for June 27th, 2012

EUR/USD

The EUR/USD currency pair is moving according to our forecast and still forming “double top” reversal pattern. Euro has left the resistance area and currently is moving downwards. At the H1 chart the price is forming the descending pattern, the target of the fall is the area of 1.2340. One can consider selling the pair from the current levels. If the price grows up higher than 1.2550, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the level of 1.2450.



GBP/USD

The GBP/USD currency par has grown up higher than we expected. At the H1 chart the price continues forming the descending pattern. At the moment one can consider selling Pound near the level of 1.5685. We can expect the price to grow up towards the resistance area. Currently the pair is moving inside the descending channel, the target of the fall is the area of 1.55. If Pound grows up higher than 1.5720, this scenario will be cancelled.



USD/CHF

The USD/CHF currency pair also continues moving according to the forecast. The price has tested the support area and right now the target of the growth is the area of 0.9695. One can consider buying Franc from the current levels with the stop below 0.9570. If the price breaks the ascending channel’s lower border, this scenario will be cancelled. We recommend to increase the amount of long positions only after the price breaks the level of 0.9640.



NZD/USD

New Zealand Dollar has left the ascending channel, we should expect the pair to start moving downwards. The test of the trend’s broken line at the RSI is an additional signal to sell the pair. The price is expected to fall down from the current levels. If the pair grows up higher than 0.7970, this scenario will be cancelled.



EUR/JPY

The EUR/JPY currency pair has left the ascending channel, we should expect it to start moving downwards. The target of the fall is the area of 97.45. One can consider selling the pair with the tight stop above 99.80. Conservative traders are advised to wait until the price test the level of 99.50 and then try to sell the pair.

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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