Forex Technical Analysis 2012/27/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

24.08.2012

Forecast for August 27th, 2012

EUR/USD

The EUR/USD currency pair continues moving inside the ascending channel, at the moment the price is growing up. At the H1 chart the pair is still forming the ascending pattern. One can consider buying Euro near the level of 1.25. 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 1.2450, this scenario will be cancelled.



GBP/USD

The GBP/USD currency pair also continues moving inside the ascending channel. Right now the price is testing the channel’s lower border. One can consider buying Pound aggressively from the current levels. The target of the growth is the area of 1.5945. 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 1.5780, this scenario will be cancelled.



USD/CHF

The USD/CHF currency pair is moving according to the forecast, at the moment the price is being slightly corrected. One can consider selling Franc with the tight stop above 0.9630. The target of the fall is the area of 0.95. The RSI indicator faced the resistance form the trend’s descending line.



AUD/USD

Despite our expectations Australian Dollar has fallen lower than 1.0420, the price has reached the support level. One can consider buying the pair aggressively with the tight stop. The target of the growth is the area of 1.0460. If the price falls down lower than 1.0340, this scenario will be cancelled.



NZD/USD

New Zealand Dollar is moving according to the forecast, the price has reached the support level in the area of 0.8095. One can consider buying the pair from the current levels with the tight stop below 0.8055. The test of the trend’s ascending line at the RSI is an additional signal to buy the pair.

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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