Forex Technical Analysis 2011/02/23. EUR/USD,GBP/USD, USD/CHF, AUD/USD, GBP/JPY

22.02.2011

EUR USD Forecast Feb 23 2011

The EUR/USD currency pair keeps moving according to the eurusd forecast. By the moment the price has reached the descending target of the correction. At the H4 forex online chart we have “upside down head & shoulder” reversal pattern forming, and one can try to buy the pair with the tight stop. The closest target of the growth is the area of 1.3885. If the price leaves the rising channel, one is recommended to close long positions and increase the amount of purchases only after the neckline is broken.

EUR USD Forecast Feb 23 2011

GBP USD Forecast Feb 23 2011

As it is seen from the gbpusd analysis Pound has also reached the area defined earlier. We can try to buy thepair with the target in the area of 1.6310. The stop must be below 1.6135.The breaking of the descending channel will be one more signal to buy the pair.

GBP USD Forecast Feb 23 2011

USD CHF Forecast Feb 23 2011

Franc has almost reached the area of the 5th point of reference, however, there is still some potential for the price to move downwards. The closest target of the fall is the area of 0.9400. According to the technical analysis usd chf you can try to sell the pair with the tight stop above 0.9495.

USD CHF Forecast Feb 23 2011

AUD USD Forecast Feb 23 2011

Australian Dollar, like the other currency pairs, is being corrected. At the moment one can consider buying the pair with the stop below 0.9975. According to the aud usd analysis the target of the growth is the area of 1.0260.

AUD USD Forecast Feb 23 2011

GBP JPY Forecast Feb 23 2011

The GBP/JPY keeps moving in order to complete the formation of “head & shoulders” reversal pattern. Judging by the  gbp jpy analysis one can consider buying the pair with the stop below 133.45. The closest target of the growth is the area of 136.10.I f the price breaks the rising channel’s lower border, this case scenario will be cancelled and we will recommend you to close long positions.

GBP JPY Forecast Feb 23 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.

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