Forex Technical Analysis 2011/28/12 (EUR/USD, AUD/USD, CAD/JPY, OIL) Forecast FX

27.12.2011

Forecast for December 28th, 2011

EUR/USD

The EUR/USD currency pair is not very active. At the moment the price is forming “triangle” pattern at the H1 chart of the pair. One can consider selling the pair with the tight stop only after the price breaks the lower border. If the price breaks the level of 1.3130, this case scenario will be cancelled.


AUD/USD

At the H4 chart of the AUD/USD currency pair the price continues forming “failure swing” reversal pattern at the RSI, the target of the fall is the area of 1.0072. The RSI indicator hasn’t broken the support level yet, one can only consider aggressive sales of the pair. If the price grows higher than 1.0240, this case scenario will be cancelled.


CAD/JPY

At the daily chart the price continues the formation of the descending pattern with the target of the fall in the area of 67.50. Also, we have “triangle” pattern forming here, the price is testing the pattern’s upper border. One can consider selling the pair with the tight stop and increase the amount of short positions only after the price breaks the “triangle’s” lower border. If the pair grows higher than 77.00, this case scenario will be cancelled.


OIL

The price is forming the symmetrical pattern with the target in the area of 91.47, and currently is testing the area of the 5th pivot point, which is expected to be a starting point of the fall. One can consider selling Oil with the tight stop above 100.85 and increase the amount of short positions only after the price breaks the level of 99.00.


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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