Forex Technical Analysis 2010/11/24. EUR/USD, GBP/USD, USD/CHF, EUR/JPY Forecast FX.

24.11.2010

EUR USD Forecast Nov 25 2010

In case of almost all currency pairs, we can see for med patterns which are in favor of Dollar growth. However, one should be very careful, because these patterns can be just a correction of American currency against the other ones. As can be  seen from  eurusd forecast the EUR/USD currency pair is near the level of the 5th point of reference, we can expect the price to move downwards with the target in the area of 1.3210. You can try the tight stop sales, but don’t forget to move stops into the black as soon as possible.

GBP USD Forecast Nov 25 2010

Pound is moving downwards into the area of 1.5720. The descending pattern at the m30 chart indicates that the pair will fall even lower with the target in the area of 1.5655. Judging by gbpusd forecast you can try to sell the GBP/USD pair currency pair with the stop above 1.5835. In case the channel’s upper border is broken, one is recommended to close short positions.

USD CHF Forecast Nov 25 2010

For several days Franc can’t decide which way to move. The pair is stuck in a narrow corridor, and when the pair leaves it, we should expect it to move very actively. According to the technical analysis usd chf, currently we have “head & shoulders” reversal pattern forming with the target in the area of 0.9705.One shouldn’t consider selling Franc until the neckline is broken. The stop must be above 0.9980.

EUR JPY Forecast Nov 25 2010

As can be seen from the forecast eurjpy, we have the descending expansion pattern forming. Taking into account the structure of the price movement, we can say that there is a strong descending trend. One should consider selling the pair with the target in the area of 109.50. The stop must be above 111.50.

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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