Forex Technical Analysis 2010/11/04. EUR/USD, GBP/USD, USD/CHF, AUD/USD Forecast FX.

04.11.2010

EUR USD Forecast Nov 05 2010

As it seen from eurusd forecast the EUR/USD currency pair has reached the closest target. At the moment we have one more rising pattern forming with the target in the area of 1.4314 at the H1 chart. One should wait until the price goes back to the area of 1.4130 where we can try to buy the pair with the tight stop.

Judging by the daily online forex trading chart, we can suggest one of the possible scenarios: the price will grow to the level of 1.5870. The fact that the “triangle” was broken upwards resulted in a possible rising movement of the price with the target in the area of 1.5147. After that we should expect the price to go back to the rising channel’s lower border, the formation of the 5th point of reference and, at the end, a final rising wave.

GBP USD Forecast Nov 05 2010

Pound has also completed the symmetrical pattern with the target in the area of 1.6170. Judging by gbpusd forecast we should expect the price to move to the 4th point of reference in the area of 1.6766. One should close long positions in this area and we recommend you to resume buying Pound in the area of 1.6237. The target of the rising pattern will be the level of 1.8147.

USD CHF Forecast Nov 05 2010

In case of Franc the descending structure indicates that the existing trend continues. The target of the fall is the area of 0.8645. In our previous reviews we defined the levels to sell Franc and by now they haven’t changed. According to  technical analysis usd chf we should wait until the price goes back to level of the broken channel at the H4 chart where we can start selling the pair during a long-term period.

AUD USD Forecast Nov 05 2010

Australian Dollar has also perfectly completed the hourly rising pattern. Judging by aud usd analysis, we should expect the American currency to fall. The target of the pair’s growth is the area of 1.0527. Here there is a possibility of a correction and a further rising movement.

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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