Forex Technical Analysis 2011/15/11 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

14.11.2011

Forecast for November 15th, 2011

EUR/USD

At the moment the EUR/USD currency pair is testing the descending channel’s upper border, we should expect the price to rebound from it and start moving downwards. The target of the fall is the area of 1.3180, one can consider selling the pair with the tight stop. If the price breaks the channel’s upper border and leaves it, this case scenario will be cancelled.


GBP/USD

Pound continues moving inside the descending channel, the target of the fall is the area of 1.5130. One can consider selling the pair with the tight stop and increase the amount of sales only after the price breaks the support level in the area of 1.5870. If the price leaves the channel, this case scenario will be cancelled.


USD/CHF

Franc is testing the rising channel’s lower border, we should expect the rising movement with the target in the area of 0.9343. One can consider buying the USD/CHF currency pair with the tight stop below 0.8955 and increase the amount of long positions only after the price breaks the level of 0.9105. If the price leaves the channel, this case scenario will be cancelled.


AUD/USD

In case of AUD/USD currency pair we can see the formation of the descending symmetrical pattern. One can consider selling the pair with the tight stop above 1.0310. The target of the fall is the area of 0.9725. If the pair leaves the channel, one can try to buy it.


NZD/USD

New Zealand Dollar is also moving inside the descending pattern, the target of the fall is the area of 0.7495. One can try to sell the pair with the tight stop above the channel’s upper border. The closest target of the fall is the channel’s lower border in the area of 0.7600. One is recommended to increase the amount of short positions only after the price breaks the support level in the area of 0.7755. If the pair leaves the channel in an upward direction, this case 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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