Forex Technical Analysis 2011/03/04. EUR/USD, USD/CHF, USD/CAD, AUD/USD Forecast FX.

03.03.2011

EUR USD Forecast March 04 2011

In case of EUR/USD currency pair we have “flag” pattern forming, the target of the growth is the area of 1.3980. According to the eurusd analysis you can try to buy the pair with the tight stop below 1.3830. One should increase the amount of long positions only after the price breaks the local maximum at the level of 1.3890.

EUR USD Forecast March 04 2011

USD CHF Forecast March 04 2011

In case of USD/CHF currency we may have an excellent opportunity to sell. As it is seen from the technical analysis usd chf at the H4 chart the RSI indicator faced the resistance from the trend’s descending line, and we should expect the price to move downwards and reach a new local minimum. At shorter periods of time we also have signals to sell the pair. It’s time to try to enter the market with a minimum risk.

USD CHF Forecast March 04 2011

At the M15 forex online chart the price has reached all the targets of the rising pattern, and we have “head & shoulders” reversal pattern forming with the target in the area of 0.9211.One can try to sell the pair with the stop above 0.9270, and increase the amount of short positions only after the price breaks the neckline.

USD CHF Forecast March 04 2011

USD CAD Forecast March 04 2011

Canadian Dollar is about to continue moving downwards to the area of 0.9550 where the 4th point of reference is formed. Judging by the usd cad analysis you can try the tight stop sales. The level of 0.9550 is expected to be a starting point of the correction to the channel’s upper border where we can consider opening short positions. But if the price leaves the descending channel, this case scenario will be cancelled.

USD CAD Forecast March 04 2011

AUD USD Forecast March 04 2011

In case of Australian Dollar we have the rising pattern forming with the target in the area of 1.0380. According to the aud usd analysis we should expect the price to grow to the level of 1.0345. Then the pair may be corrected to the channel’s lower border in the area of 1.0182, where we should expect the final wave of growth.

AUD USD Forecast March 04 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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