Forex Technical Analysis 2012/28/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

27.08.2012

Forecast for August 28th, 2012

EUR/USD

The EUR/USD currency pair continues moving inside the ascending channel, the target of the growth is the area of 1.2650. Conservative traders can try to buy Euro from the level of 1.2445. The test of the ascending trendline at the RSI is an additional signal to buy the pair. If the price falls down lower than 1.2420, this scenario will be cancelled.



GBP/USD

The GBP/USD currency pair is also moving inside the ascending channel, currently the price is being corrected. One can consider buying Pound near the level of 1.5790. The target of the growth is the area of 1.5955. We recommend to increase the amount of long positions only after the price breaks the level of 1.5875. 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, the price has reached the area for sales. One can consider opening short positions from the current levels with the stop above 0.9645. The target of the fall is the area of 0.9495. We recommend to increase the amount of short positions only after the price breaks the level of 0.9540.



AUD/USD

Australian Dollar is testing the support level. At the moment the price is forming the ascending pattern, the target of the growth is the area of 1.0610. One can consider buying the pair near the level of 1.0370. If the price falls down lower than 1.0230, this scenario will be cancelled. We recommend to increase the amount of long positions only after the price breaks the level of 1.0450.



NZD/USD

New Zealand Dollar is moving according to the forecast, at the H1 chart the price is forming “failure swing” reversal pattern. The closest target of the growth is the area of 0.8125. One can consider buying the pair from the current levels. The final target of the growth is the area of 0.8210. If the price falls down lower 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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