Technical analysis 2010/10/04 EUR/USD, GBP/USD, USD/CHF, USD/CAD

04.10.2010

EUR USD Forecast, Oct 05 2010

According to eur usd analysis, “Head & shoulders” reversal pattern with the target in the area of 1.3691 has been completely formed. At the moment there is a possibility that the descending pattern will be formed. One can try to buy the pair only after the channel is broken. We should expect the price to move to the level of 1.3711, and then – to the target of 1.3664.

GBP USD Forecast, Oct 05 2010

Pound is still in the rising channel. At the RSI forex indicator the trend’s rising line has been falsely broken. Judging by technical analysis gbp usd, you can try to buy the pair with the target in the area of 1.6100. The stop must be below 1.5725.

USD CHF Forecast, Oct 05 2010

In case of the USD/CHF currency pair we have “triangle” pattern forming for technical analysis. When the “triangle” is broken, one can try to sell the pair with the target in the area of 0.9557, according to usd chf analysis.The stop must be above 0.9780. As an alternative, one should consider the test of the channel’s upper side followed by reaching new local minimum.

USD CAD Forecast, Oct 05 2010

Usd cad analysis shows, that Canadian Dollar has finally managed to break the “triangle” downwards, but has not reached the specified targets. At the moment we can see the formation of the descending pattern and one should consider selling the pair with the target in the area of 1.0045-1.0020.

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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