Forex Technical Analysis 2012/29/06 (EUR/USD, GBP/USD, USD/CHF, USD/CAD, AUD/USD) Forecast FX

28.06.2012

Forecast for June 29th, 2012

EUR/USD

The EUR/USD currency pair has almost reached the target defined earlier, the price continues moving downwards. Currently the closest target of the fall is the area of 1.2325. One can consider selling Euro from the current levels with the stop above 1.2520. Judging by the structure of the H1 chart, we can say that there is a possibility that Euro may fall down into the area of 1.21. If the price breaks the level of 1.23, Euro will continue moving downwards.



GBP/USD

The GBP/USD currency pair continues moving according to the forecast, the closest target of the fall is the area of 1.5380. One can consider selling the pair from the current levels with the stop above 1.5650. The next target of the fall will be the area of 1.5270. If Pound grows up higher than 1.5720, this scenario will be cancelled.



USD/CHF

The USD/CHF currency pair continues moving inside the ascending pattern with the target in the area of 0.9720. One can consider buying Franc from the current levels with the stop below 0.9580 and increase the amount of purchases only after the price breaks the level of 0.9680. The ascending pattern at the daily chart of the pair indicates that the price may continue growing up towards the area of 0.9890. If Franc falls down lower than 0.9410, this scenario will be cancelled.



USD/CAD

At the H4 chart of the USD/CAD currency pair we have “head & shoulders” reversal pattern forming with the target in the area of 1.0155. One can consider selling the pair aggressively from the current levels with the stop above 1.0285. We recommend to increase the amount of sales only after the price breaks the level of 1.0220. If Canadian Dollar grows up higher than 1.0310, this scenario will be cancelled.



AUD/USD

Australian Dollar is moving inside “flag” pattern, the closest target of the fall is the area of 0.99. One can consider selling the pair from the current levels with the stop above 1.0120. The final target of the fall is the area of 0.9810. We recommend to increase the amount of sales only after the price breaks the level of 1.0040. If the pair breaks the level of 1.0130, 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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