Forex Technical Analysis 2012/23/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

22.08.2012

Forecast for August 23rd, 2012

EUR/USD

The EUR/USD currency pair continues moving according to the forecast. At the moment the price is forming the ascending pattern at the H1 chart. We should expect Euro to be corrected towards the area of 1.24, where one can consider buying it with the tight stop. The target of the growth is the area of 1.2535. One can try to sell the pair aggressively from the current levels with the tight stop.



GBP/USD

The GBP/USD currency pair is also moving according to the forecast, right now there is a risk that the price may start the correction. The closest support level is the area of 1.5745, where one can try to buy Pound. The target of the growth is the area of 1.5850. If the price falls down lower than 1.5710, this scenario will be cancelled. At the moment one can consider selling Pound aggressively with the tight stop.



USD/CHF

The USD/CHF currency pair is moving according to our forecast. The price is forming the descending pattern. The target of the fall is the area of 0.9585. We should expect Franc to be corrected from the current levels towards the area of 0.9695. One can consider buying Franc aggressively with the stop below 0.9610.



AUD/USD

Australian Dollar continues moving according to the forecast, the price has fallen lower than 1.0460. At the moment one can consider buying the pair with the tight stop and increase the amount of long positions only after the price breaks the level of 1.0530. The target of the growth is the area of 1.0650. The test of the trend’s broken line at the RSI is an additional signal to buy the pair. If the price falls down lower than 1.0390, this scenario will be cancelled.



NZD/USD

New Zealand Dollar continues moving inside the ascending channel, the price is testing the channel’s lower border. One can consider buying the pair with the tight stop below 0.8070, the target of the growth is the area of 0.8165.We recommend to increase the amount of long positions only after the price breaks the level of 0.8120.

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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