Forex Technical Analysis 2011/30/12 (EUR/USD, USD/CHF, EUR/JPY) Forecast FX

29.12.2011

Forecast for December 30th, 2011

EUR/USD

The EUR/USD currency pair is moving according to the forecast. At the moment the RSI is testing the trend’s broken line, we should expect it to rebound and start moving upwards with the target in the area of 1.3215. One can consider buying the pair with the tight stop.



At the M30 chart of the pair we have “head & shoulders” reversal pattern forming with the target in the area of 1.3012. One can consider buying Euro aggressively with the stop below 1.2905 and increase the amount of long positions only after the price breaks the neckline. If the price breaks the level of 1.2885, this case scenario will be cancelled.


USD/CHF

At the daily chart of the USD/CHF currency pair we have “head & shoulders” reversal pattern forming at the RSI, we should expect the price to fall down with the closest target in the area of 0.9276. The next target is the rising channel’s lower border in the area of 0.8850. One can consider aggressive sales of the pair with the tight stop and increase the amount of sales only after the price breaks the neckline at the RSI.


EUR/JPY

The RSI indicator was supported by the trend’s rising line, we should expect the start of the rising movement with the target in the area of 102.55. One can consider buying the pair with the tight stop. If the price reaches new local minimums, 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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