Forex Technical Analysis 2011/02/16. EUR/USD,GBP/USD, NZD/USD, USD/CAD Forecast FX.

15.02.2011

EUR USD Forecast Feb 16 2011

The EUR/USD currency pair keeps moving inside the rising Wolfe Wave. The price has left the area where we could buy the pair. At the moment we should expect it to be corrected to the area of 1.3500, where we can try to buy. According to the eurusd analysis the stop must be below 1.3450. But if the price breaks the local minimum in the area of 1.3400, this case scenario will be cancelled.

EUR USD Forecast Feb 16 2011

GBP USD Forecast Feb 16 2011

Pound is also moving according to the gbpusd forecast. The pair has broken the descending channel’s upper border. One can consider opening long positions with the stop below 1.6040. The target of the growth is still 1.6325. Don’t forget to move stop into the black as soon as possible.

GBP USD Forecast Feb 16 2011

NZD USD Forecast Feb 16 2011

New Zealand is ready to move upwards. At the moment the price is testing the trend’s rising line, the daily support level is in the area of 0.7530. According to the nzdusd forecast the target of the growth is the upper level in the area of 0.7820. The test of the trend line at the RSI will be an additional strong signal to buy the pair.

NZD USD Forecast Feb 16 2011

USD CAD Forecast Feb 16 2011

Canadian Dollar is moving inside the descending symmetrical pattern with the target in the area of 0.9769. Judging by the usd cad analysis you can consider selling the pair with the stop above 0.9900. If the price reaches a new minimum at the level of 0.9830, we can try to increase the amount of short positions.

USD CAD Forecast Feb 16 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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question