Forex Technical Analysis 2011/02/09. EUR/USD,GBP/USD, USD/CHF, NZD/USD Forecast FX.

08.02.2011

EUR USD Forecast Feb 09 2011

As it can be seen from the eur usd analysis the EUR/USD currency pair keeps moving inside the rising channel. Currently we have “head & shoulders” reversal pattern forming with the target in the area of 1.3759. One can try to buy the pair with the stop below 1.3580. We recommend you to increase the amount of long positions only after the price breaks the neckline.

EUR USD Forecast Feb 09 2011

GBP USD Forecast Feb 09 2011

There is a potential for Pound to grow to the level of 1.6280. According to the gbp usd analysis you can try to buy the GBP/USD currency pair at current prices with the stop below 1.6080.If the price reaches this area, we should expect it to move downwards.

GBP USD Forecast Feb 09 2011

USD CHF Forecast Feb 09 2011

As it is seen from the technical analysis usd chf Franc is moving similar to Euro. The targets of the rising pattern have been reached, and “head & shoulders” online forex trading reversal pattern with the target in the area 0.9470 has been completed. One can try to sell the pair with the stop above 0.9565.

USD CHF Forecast Feb 09 2011

NZD USD Forecast Feb 09 2011

In case of NZD/USD currency pair we have a symmetrical pattern forming with the target in the area of 0.7806. According to the nzdusd forecast you can consider buying New Zealand Dollar with the tight stop from the area of 0.7740. If the price breaks the rising channel’s lower border, this case scenario will be cancelled.

NZD USD Forecast Feb 09 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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