Forex Technical Analysis 2011/01/03. EUR/USD, GBP/USD, USD/CHF Forecast FX.

03.01.2011

EUR USD Forecast Jan 04 2011

At the moment we can see the formation of the rising pattern with the target in the area of 1.3452.  According to the eurusd forecast one can consider buying the EUR/USD currency pair at current price with the stop below 1.3220. If the price breaks the channel and is fixed below its lower border, one is recommended to close long positions.

GBP USD Forecast Jan 04 2011

As it is seen from the gbpusd forecast  the price structure also indicates that it will continue moving up with the target in the area of 1.5629. One can consider buying the pair when the price tests the channel’s lower border. The stop must be below 1.5445. If the price falls below the channel’s border, this case scenario will be cancelled.

USD CHF Forecast Jan 04 2011

According to the forex forecast usd chf  franc keeps falling down. By the moment the situation hasn’t changed a bit, one should consider selling the USD/CHF currency pair with the target in the area of 0.9222. The stop must be above 0.9415. If the price breaks the descending channel, one is recommended to stop selling 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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