Forex Technical Analysis 2011/02/03. EUR/USD,GBP/USD, USD/CAD, AUD/USD, NZD/USD Forecast FX.

02.02.2011

EUR USD Forecast Feb 03 2011

According to the eur usd analysis the EUR/USD currency pair has reached the targets of the short-term rising pattern. However, the direction of movement hasn’t changed by now, and one can try to buy the pair with the tight stop. The target of the growth is the area of 1.3954. If the price breaks the channel’s lower border, this case scenario will be cancelled.

EUR USD Forecast Feb 03 2011

GBP USD Forecast Feb 03 2011

As we can see by the gbp usd analysis pound has almost reached the targets of the 4th point of reference in the area of 1.6255. Currently we can expect the price to be corrected to the level of 1.6110, where one can consider buying the pair with the target of 1.6310. But if the price leaves the rising channel, this case scenario will be cancelled.

GBP USD Forecast Feb 03 2011

USD CAD Forecast Feb 03 2011

Canadian Dollar also keeps moving downwards. According to the usd cad analysis the closest target of the fall is the area of 0.9832. One can try to sell Canadian Dollar with the tight stop. If the price breaks the channel’s upper border, one should close short positions.

USD CAD Forecast Feb 03 2011

AUD USD Forecast Feb 03 2011

Australian Dollar seems to have reached the targets of the 4th point of reference in the area of 1.0145. At the moment we should expect the AUD/USD currency pair to move down into the area of 1.0025. Judging by the aud usd analysis you can consider buying the pair with the final target of 1.0182 starting from the channel’s lower border. One more possible scenario is if the price breaks the rising channel.

AUD USD Forecast Feb 03 2011

NZD USD Forecast Feb 03 2011

At the daily forex online chart of the NZD/USD currency pair we can see that the rising pattern with the target in the area of 0.8360 is still being formed. According to the nzdusd forecast you can try to buy the pair at shorter periods of time.

NZD USD Forecast Feb 03 2011
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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