Forex Technical Analysis 2011/14/12 (EUR/USD, GBP/USD, USD/RUR, EUR/JPY, AUD/USD, GOLD, SILVER) Forecast FX

13.12.2011

Forecast for December 14th, 2011

EUR/USD

The EUR/USD currency pair continues moving downwards according to the forecast. Currently we should expect the price to continue falling down to the level of 1.3020. One can consider selling the pair near the level of 1.3270. If the price breaks the upper border and leaves the descending channel, this case scenario will be cancelled.


GBP/USD

Pound continues moving inside the channel. Here, one can also consider selling the pair with the tight stop. The test of the trend’s descending line at the RSI is an additional signal to sell the pair. The target of the fall is the area of 1.5500.


USD/RUR

At the H4 chart of the USD/RUR currency pair the price is completing the rising pattern with the target of 32.015. After that, we should expect the pair to fall down. One can consider selling the instrument with the stop above 32.35 only after the price breaks the rising channel’s lower border. The closest target of the fall is the area of 28.85.


EUR/JPY

The EUR/JPY currency pair keeps falling down. Currently we can see the formation of the descending symmetrical pattern with the target in the area of 102.16. If the price grows higher than 103.10, this case scenario will be cancelled. One can consider selling the pair with the tight stop.


AUD/USD

Australian Dollar is moving sideways. We should expect the price to test the level of 1.0170, where one can try to sell the pair with the tight stop. The target of the fall is the area of 0.9885. We recommend to increase the amount of sales only after the price breaks the channel’s lower border. If the pair grows higher than 1.0235, this case scenario will be cancelled.


GOLD

Gold continues falling down. Currently we can see the formation of the descending pattern and should expect the price to continue falling down into the area of 1622. One can consider selling the instrument at current prices. If the price leaves the channel, one is recommended to close short positions.


SILVER

Silver is also moving downwards, one can consider selling the instrument with the tight stop above 31.85. The target of the fall is the area of 29.97. The test of the trend’s descending line (which is a resistance line here) at the RSI is a signal to sell the instrument.


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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