Forex Technical Analysis 2010/11/08. EUR/USD, GBP/USD, USD/CAD, AUD/USD Forecast FX.

08.11.2010

EUR USD Forecast Nov 09 2010

According to eurusd forecast the price is testing the lower border of the rising channel, the target of the growth of the symmetrical pattern is the area of 1.4318. One can try to buy the pair with the tight stop outside the channel’s borders. If the price leaves the descending channel, it will be even a stronger signal to buy the pair. The stop in this case must be hidden behind local minimum.

USD CHF Forecast Nov 09 2010

Currently the USD/CHF currency pair is forming the descending pattern with the target in the area of 0.9430. Judging by  technical analysis usd chf  you can try to sell the pair at current prices with the stop above 0.9675. In case the channel’s upper border is broken, one should close short positions.

USD CAD Forecast Nov 09 2010

Canadian Dollar is still being corrected and is moving towards the level where the 5th point of reference will be formed. There is a possibility that the price will go down from this level into the area of 0.9930. According to  forex analysis usd cad  you can try to sell the pair starting from the level of 1.0120. The stop must be above 1.0155.

AUD USD Forecast Nov 09 2010

As we can see by aud usd analysis, in case of the AUD/USD currency pair we have the “triangle” pattern forming. If the price breaks the pattern upwards, we should expect the pair to grow into the area of 1.0263. The target of the growth of the rising pattern is the level of 1.0200. We recommend you to buy the pair only after the price leaves the “triangle”. The stop must be below local minimum.

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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