Technical Analysis 22.09 (EUR/USD, GBP/USD, NZD/USD, AUD/USD)

22.09.2010

Forecast EUR/USD

After the “triangle” had been broken upwards, we saw Euro to grow for almost 200 points. And it seems like the “triangle” is the middle point of the rising symmetrical pattern with the general target in the area of 1.3440. There are no signals to buy the pair  eur/usd right now. We should wait until the price is corrected into the area where the 5th point of reference is formed, 1.3155. After that we can try to buy the pair.

 

GBP/USD

Forex GBP USD was also moving according to forex trading forecast. The rising pattern with the target of 1.5773 still remains in effect. To be absolutely sure we should wait until the price is corrected into the area where the descending channel will be broken, 1.5590. However, the trend is very strong, so there is a possibility that we will not see the descending movement, that’s why one can try to buy the pair with the tight stop. Don’t forget to move stop into the black as soon as possible.

 

NZD USD Chart

New Zealand Dollar is still testing maximums, but it has not reached the target of the rising pattern. One can try to buy the pair with the tight stop starting from the channel’s lower border.

 

AUD USD Chart

Australian Dollar has reached all the targets specified both at the daily and the H4 charts. However, there are no signs of trend reverse yet, that’s why it’s quite early to sell the pair. We should wait for the first signs of the reverse. After that we can try to sell the pair.

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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