Forex Technical Analysis 2012/13/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

12.07.2012

Forecast for July 13th, 2012

EUR/USD

The EUR/USD currency pair continues moving downwards according to the forecast. The target of the descending pattern at the daily chart is the area of 1.2080. Judging by the analysis of the H4 chart, we should expect the pair to be corrected to the level of 1.2350, where one can consider selling Euro. That’s why one can either try to buy the pair aggressively from the current levels with the tight stop or stay out of the market. If Euro grows up higher than 1.2420, this scenario will be cancelled.



GBP/USD

The GBP/USD currency pair is moving according to the forecast, it is falling down from the area for sales. At the moment the price is forming the descending pattern at the H4 chart, the target of the fall is the area of 1.5245. The price is expected to test the level of 1.53 and the start the correction towards the descending channel’s upper border in the area of 1.5530, where one can try to buy Pound. If the pair grows up higher than 1.5570, this scenario will be cancelled.



USD/CHF

The USD/CHF currency pair continues moving according to the forecast, it has reached the targets at the level of 0.9680. Right now we can expect the price to be corrected towards the channel’s lower border in the area of 0.9740, where one can consider selling the pair with the tight stop. The target of the ascending pattern at the H4 chart is the area of 0.9960. If the price falls down lower than 0.9720, this scenario will be cancelled.



AUD/USD

Australian Dollar has fallen down and reached the target of the fall in the area of 1.0145. Currently we should expect the price to start growing up towards the area of 1.0150. One can consider selling Australian Dollar near the descending channel’s upper border. If the pair grows up higher than 1.0280, this scenario will be cancelled.



NZD/USD

New Zealand Dollar continues falling down. There is a possibility that the price may form “head & shoulders” reversal pattern at the daily chart. We should expect the pair to return from the current levels into the area of 0.8015, where one can consider selling it aggressively with the stop above 0.8080. The closest target of the fall is the area 0.7615. However, if we take a look at the entire descending pattern at the daily chart, we can see that the long-term target of the fall is the area of 0.73. Currently one can consider opening short-term buy orders with the tight stop.

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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