Technical Analysis 29.09 (EUR/USD, GBP/USD, USD/CHF, Euro Index)

29.09.2010

EUR USD Forecast

The EUR/USD currency pair shows a steady growth ignoring the correction. According  to eurusd analysis we should expect the pair to go up into the area of 1.3780. Then, judging by the symmetrical structure of the price, the price will be corrected to the level of 1.3570, where we will try to buy large amounts of Euro with the target in the area of 1.3952.

GBP USD Forecast

From the viewpoint of technical analysis gbp usd, pound is also forming the rising structure with the target in the area of 1.6085. One can try to buy the pair either starting from the channel’s lower border, or when the RSI indicator will be testing its trend line. The best level to try buying the pair is the area of 1.5710-1.5730.

USD CHF Forecast

Usd chf analysis indicates the possible formation of the descending pattern’s center with the general target in the area of 0.9349.Currently one can try to sell the pair with the target of 0.9457. Then, after a slight correction to the level of 0.9688, one can try to sell the pair once more with the target of 0.9349.

Euro Index Forecast

Analysis of Euro Index reveals the signs of a strong movement against Dollar. As expected, we can see the formation of “head & shoulders” reversal pattern at the forex online trading RSI indicator. Also we can see that the resistance level of the “double bottom” patter has been broken leading to a further growth of Index and the EUR/USD currency 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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question