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

02.03.2011

EUR USD Forecast March 03 2011

Yesterday the EUR/USD currency pair was corrected, but it is still inside the rising channel. According to the eurusd analysis the target of the growth remains in the same area, 1.40. One can consider buying the pair with the tight stop near the channel’s lower border. But if the price breaks the channel’s lower border, this case scenario will be cancelled, and we should expect the pair to move downwards to the level of 1.3615.

EUR USD Forecast March 03 2011

GBP USD Forecast March 03 2011

As it is seen from the gbpusd analysis Pound also keeps moving upwards. At the moment we have the rising pattern forming, the closest target of the growth is the area of 1.6470, which may be a starting point of the correction to the channel’s lower border. The daily target of the growth is still the area of 1.67.

GBP USD Forecast March 03 2011

NZD USD Forecast March 03 2011

Yesterday New Zealand Dollar has reached a new local minimum. By the moment the RSI has been supported by the trend’s rising line at the weekly chart. According to the nzdusd forecast we should expect the price to move upwards. However, one shouldn’t consider buying the pair before the reversal signals appear at shorter periods of time.

NZD USD Forecast March 03 2011

At the daily online forex trading chart the NZD/USD currency has been supported in the area of 0.7400. We should expect the price to start moving up towards the resistance level of 0.7875. One can also try to buy the pair with the tight stop. But if the price breaks the level of 0.7390, this case scenario will be cancelled.

NZD USD Forecast March 03 2011

AUD USD Forecast March 03 2011

In case of Australian Dollar we have the descending pattern forming with the target in the area of 1.0078. Judging by the aud usd analysis you can try to sell the pair with the tight stop above 1.0145. If the price leaves the channel, we should consider buying the pair instead of selling it.

AUD USD Forecast March 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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