Forex Technical Analysis 2010/11/02. EUR/USD, GBP/USD, USD/CHF, AUD/USD Forecast FX.

02.11.2010

EUR USD Forecast Nov 03 2010

In case of the EUR/USD currency pair the situation tends to be quite unstable. As it seen from eur usd analysis the pair is stuck inside the “triangle”. The pattern is very subtle and while the price is inside it we don’t recommend you to trade. Looks like after the upper side is broken there will be a signal to buy the pair. Until then one should consider the tight stop sales. However, at the daily forex online trading chart we can see the potential for the pair to grow into the area of 1.4084. If the rising pattern is completely formed, the “triangle” will also be completed.

GBP USD Forecast Nov 03 2010

Judging by gbpusd forecast the price is likely to keep moving up. The closest target of the growth is the area of 1.6200. One should either buy the GBP/USD currency pair near the level of 1.5977, or wait for the testing of the channel’s lower border. The stop must be below 1.5950.

 

USD CHF Forecast Nov 03 2010

Franc is testing the channel’s lower side, according to technical analysis usd chf you can try to buy the pair from here with the tight stop below 0.9815. The target of the growth is the area of 1.0036. If the price leaves the channel, one can consider closing the long positions and selling Franc.

AUD USD Forecast Nov 03 2010

In case of Australian Dollar we have the rising pattern forming with the target in the area of 1.0100.  Judging by  aud usd analysis you can try to buy the pair starting from the area of 0.9950. At the moment we should expect the price to go up toward the channel’s upper border and then back to the area where we can buy the pair.

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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