Forex Technical Analysis 2011/25/11 (EUR/USD, USD/CHF, USD/CAD, NZD/USD, SILVER) Forecast FX

24.11.2011

Forecast for November 25th, 2011

EUR/USD

The EUR/USD currency pair continues falling down, the closest target of the fall is the area of 1.3180. One can consider selling the pair near the channel’s upper border in the area of 1.3310. The main target of the descending pattern is the area of 1.3130. If the price leaves the channel, this case scenario will be cancelled.


USD/CHF

The USD/CHF currency pair is moving inside the rising channel, currently one can consider buying it with the tight stop. The target of the growth is the channel’s upper border. Later we can expect the price to be corrected to the level of 0.9205, where one can try to buy the pair with the tight stop. The final target of the growth is the area of 0.9559. If the price breaks the channel’s lower border, this case scenario will be cancelled.


USD/CAD

Canadian Dollar is also moving upwards, the closest target of the growth is the area of 4th pivot point, 1.0655. One can consider opening long positions near the level of 1.0525. The target of the growth is the area of 1.0830. If the pair falls lower than 1.0410, this case scenario will be cancelled.


NZD/USD

New Zealand Dollar continues moving inside the descending symmetrical pattern with the target of the fall in the area of 0.7190. Inside the final falling wave we can see the formation of one more descending pattern with lower targets at the level of 0.6998. We should expect the price to fall down to the level of 0.7190. One can consider starting to sell the pair from the level of 0.7400. If the price breaks the upper border and leaves the descending channel, this case scenario will be cancelled.


SILVER

SILVER is moving inside the descending pattern, the target of the fall is the area of 20.50. At the moment we have two possible scenarios, but in any case, one can consider starting sales only after the price leaves the descending channel. More conservative scenario suggests the test of the level of 37.90. If the price breaks the upper border and leaves the descending channel, the scenario with the descending pattern 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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