Forex Technical Analysis 2012/24/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

23.08.2012

Forecast for August 24th, 2012

EUR/USD

The EUR/USD currency pair has reached the target at the level of 1.2535. At the moment the price is still growing up and forming the ascending pattern at the H1 chart. The target of the pattern is the area of 1.2665. The closest target of the growth is the area of 1.2620, which is expected to be a starting point of the correction towards the level of 1.2550. If the price falls down lower than 1.2520, this scenario will be cancelled.



GBP/USD

The GBP/USD currency pair also continues moving according to the forecast, it has reached all the target defined earlier. Right now one can consider buying Pound from the level of 1.5850. The target of the growth is the area of 1.5950. The test of the trend’s ascending line at the RSI is an additional signal to buy the pair. If the price falls down lower than 1.5820, this scenario will be cancelled.



USD/CHF

The USD/CHF currency pair is moving downwards, at the moment the price is forming the symmetrical pattern. The target of the fall is the area of 0.9475. One can consider selling Franc near the level of 0.9570. The test of the trend’s descending line at the RSI is an additional signal to sell the pair. If the price grows up higher than 0.9580, this scenario will be cancelled.



AUD/USD

It’s the third time Australian Dollar is trying to break the resistance level in the area of 1.0530. We should expect the pair to continue falling down towards the area of 1.0435, where one can consider buying it with aggressively the tight stop. The closest target of the growth is the area of 1.0545. If the price falls down lower than 1.0425, this scenario will be cancelled.



NZD/USD

New Zealand Dollar has reached all the targets defined earlier. At the moment we should expect the correction towards the support level in the area of 0.8095, where one can consider buying the pair with the tight stop below 0.8070. The target of the growth is the resistance level in the area of 0.8220. If the price falls down lower than 0.8035, 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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question