Technical analysis 2010/10/20 (EUR/USD, GBP/USD, NZD/USD, AUD/USD)

20.10.2010

EUR USD Forecast, Oct 21 2010

The EUR/USD currency pair is moving according to forex analysis eur usd. At the moment we can see the descending pattern forming with the target in the area of 1.3541. One should expect the price to be corrected to the level of 1.3875 where we can try to sell the pair with the tight stop. It seems that we will see the similar scenario regarding other currency pairs.

GBP USD Forecast, Oct 21 2010

Pound chart indicates that the price continues to fall into the area of 1.5526. According to technical analysis gbp usd, you can try to sell the pair right now or wait for the test of the channel’s upper border, 1.5760. Don’t forget about the stop-losses if the descending channel is broken, because it will cancel the fall of Pound.

NZD USD Forecast, Oct 21 2010

As we can see by nzdusd forecast, the neckline has been broken. At the moment one should expect the price to move back to the level where the neckline was broken and after that try to sell the pair. We can also see the descending pattern forming with the target in the area of 0.7383. In case of “head & shoulders” reversal pattern the target is 0.7331.

AUD USD Forecast, Oct 21 2010

In accordance with aud usd analysis, Australian Dollar has also started the correction against the American currency. We should expect the price to fall into the area of 0.9618. However, the fall is probably a temporary one, and in the nearest future we will see the price moving upward reaching new maximums. The descending pattern will be completed after the correction is finished.

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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