Technical Analysis 10.08 (EUR/USD, USD/CAD, GBP/USD, Cisco Systems)

10.08.2010

EUR/USD

Euro has been corrected. There is a descending pattern with the target of 1.3104. When the price is outside the channel, one should try to buy; the stop is behind the closest minimum. The targets above the mentioned will remain the same.

USD/CAD

Canadian Dollar has also been corrected, but we expected it yesterday, for active sales. Currently, there is a descending pattern with the target of 1.0345. When the price is outside the channel, one should try to sell with the stop behind the maximum.

GBP/USD

Pound has almost reached the buy zone. At this point one can look up for signs of reverse during short-term periods of time and try to buy the pair with the target of 1.6139.

CiscoSystems

Cisco Systems shares opened with forex online gap yesterday and showed bullish growth. Those, who bought, can move stops into the black and wait for the first target to be in 25.81 area, where we will probably stop buying and try again only after a correction into 24.30 area.

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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