Forex Technical Analysis 2010/11/26. EUR/USD, GBP/USD, USD/CAD, NZD/USD Forecast FX.

26.11.2010

EUR USD Forecast Nov 29 2010

As we can see by eurusd forecast the EUR/USD is still being corrected and at the moment is testing the rising trend’s line. At the H4 chart RSI indicator was supported, we can expect the pair to hit these levels and start going upwards. However, one should consider buying the pair only after the price leaves the descending channel.

GBP USD Forecast Nov 29 2010

According to technical analysis gbp usd pound is testing the rising channel’s lower border. The rising pattern at the daily chart still remains in effect. The closet target of the growth will be the channel’s upper border. To find the point of entry we should turn to shorter periods of time.

At the H4 online forex trading chart we can see the completed descending pattern, but there are no signs of a reverse yet. One can try to buy the pair only after the price leaves the descending channel.

USD CAD Forecast Nov 29 2010

As we can see by usd cad analysis the USD/CAD currency pair has grown significantly, which resulted in the formation of the reversal signal to sell the pair. At the RSI indicator we can see the “failure swing” pattern forming. After the support level at the RSI is broken one can consider sellingthe pair. The stop in this case must be behind maximum.

NZD USD Forecast Nov 29 2010

The price has reached the rising channel’s lower border, which is an area where the 5th point of reference is formed. Judging by nzdusd forecast we should expect the price to go up from this area to the level of 0.8375.

At the H4 chart there is a rising patterns with the target that have been reached. We must wait for either reversal signals, or breaking of the descending channel, and only after that one can try to buy New Zealand Dollar. The stop must be behind the closest minimum.

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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