Looks like the market is going to follow the formed “divergence” shown by the RSI indicator, so the rising pattern still remains in effect. We can try to buy the pair with the stop below the local minimum. In case the price reaches new minimum, one is advised to close out the deal and wait until the next week when we will try to sell the pair.
The reversal pattern has not been completely formed yet; stops on low purchases should be moved into the black. In case the price reaches new minimum, we have the same situation as in case of Euro, and one should probably consider selling the pair.
Both the price and the RSI indicator show us that Franc is testing the line of the descending trend. We should expect the price to hit this level and go back. One can try the tight stop sales.
At shorter periods of time, the RSI indicator shows us the formation of “failure swing” pattern. The online forex trading pattern indicates the breaking of the 1.0150 level.
Australian Dollar continues to grow. At the moment we can see the formation the rising pattern’s 5th point of reference with the target in the area of 0.9284. We can try to buy the pair with the stop below 0.9205.
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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