Forex Technical Analysis 2012/19/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

18.07.2012

Forecast for July 19th, 2012

EUR/USD

The EUR/USD currency pair is moving according to the forecast, we should expect it to continue falling down. At the H1 chart of the pair the price is forming the descending pattern, one can consider selling Euro aggressively from the current levels with the stop above 1.2310. The closest target of the fall is the area of 1.2060. We recommend to increase the amount of short positions only after the price breaks the level of 1.2180. If the price grows up higher than 1.2320, this scenario will be cancelled.



GBP/USD

The GBP/USD currency pair is also moving according to the forecast. At the H4 chart the price is forming the descending pattern with the target in the area of 1.5335. One can consider selling Pound aggressively from the current levels with the stop above 1.5690 and increase the amount of sales only after the price breaks the level of 1.5565.



USD/CHF

The USD/CHF currency pair continues moving inside the ascending channel, we should expect it to continue moving upwards. One can consider buying Franc aggressively from the current levels. The final target of the growth is the area of 0.9910.  If the price falls down lower than 0.9755, this scenario will be cancelled. We recommend to increase the amount of sales only after the price breaks the level of 0.9850.



AUD/USD

Australian Dollar continues moving sideways. The RSI indicator is testing the resistance line, we should expect the pair to rebound from the current levels and start moving downwards. One can consider selling the pair aggressively with the stop above 1.0335 and increase the amount of short positions only after the price breaks the level of 1.0250.



NZD/USD

New Zealand Dollar continues moving according to the forecast, the price is falling down slowly. The most possible scenario still implies that the price may form the reversal pattern at the daily chat of the pair. One can either hold short positions, or open new sell orders from the current levels with the stop above 0.8020. We recommend to increase the amount of sales only after the price breaks the level of 0.7860. The final target of the pattern is the area of 0.7615. If the price grows up higher than 0.8080, 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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