Forecast for January 13th, 2012
EUR/USD
The EUR/USD currency pair continues moving inside the descending pattern, the closest target of the growth is the area of 1.2875. The main scenario is: the price moves to the channel’s upper border and breaks it. The alternative one is: the price starts falling down from the channel’s upper border to the target in the area of 1.2543.
GBP/USD
Pound was supported by the trend’s rising line at the RSI, we should expect it to rebound and start moving upwards with the target in the area of 1.5760. One can consider buying the pair with the tight stop. If the price breaks the trend’s rising line at the RSI, this case scenario will be cancelled.
USD/CHF
In case of Franc the situation is a bit similar to Euro, but vice versa. We should expect the price to fall down to the channel’s lower border in the area of 0.9420, where one can consider buying the pair with the tight stop. But if the price breaks the lower border and leaves the channel, one can consider opening short positions with the target in the area of 0.9310.
AUD/USD
The AUD/USD currency pair continues moving upwards according to the forecast. Currently we should expect the price to continue moving upwards with the target in the area of 1.0545. One can consider buying the pair with the tight stop. If the pair falls lower than 1.0280, this case scenario will be cancelled.
GBP/CHF
At the daily chart of the pair we have “head & shoulders” reversal pattern forming at the RSI. We should expect the price to fall down after the neckline is broken. If the RSI indicator grows higher than 70, this case scenario will be cancelled. One can try aggressive sales at current prices.