Forex Technical Analysis 2012/02/04 (EUR/USD, GBP/USD, USD/CHF, NZD/USD, AUD/USD) Forecast FX

Forecast for April 2^nd, 2012

EUR/USD

The EUR/USD currency pair is moving according to our forecast. The price rebounded from the defined levels and currently we should expect Euro to continue growing up. The target of the ascending pattern is the area of 1.35. If the correction starts, one can consider buying the pair near the level of 1.3310, and increase the amount of long positions only after the price breaks the level of 1.3375. The price may reach the level of 1.35 approximately on Tuesday next week. If Euro falls down much lower than 1.3230, this case scenario will be cancelled.

GBP/USD

Pound is also moving according to the forecast. By the moment the price has almost reached the target levels, and the next target of the growth is the area of 1.6170. If the price breaks the level of 1.6080, we should expect the pair to move fast towards the next target. If Pound falls down lower than 1.5830, this case scenario will be cancelled.

USD/CHF

Franc broke the ascending channel’s lower border, we should expect it to continue moving downwards. The target of the fall is the area of 0.8860, one can consider selling the pair with the tight stop from the current levels. If the price grows higher than 0.9095, this case scenario will be cancelled.

NZD/USD

New Zealand Dollar continues moving inside the sideways trend, and at the moment we should expect it to test the upper border of this range. One can consider buying the pair with the tight stop. If the price grows higher than 0.8280, the next target will be the area of 0.8460. If the pair breaks the lower border of this range in the area of 0.8060, this case scenario will be cancelled.

AUD/USD

Australian Dollar is being corrected. At the daily chart the RSI continues testing the trend’s ascending line, we should expect the pair to continue growing up. The closest target of the ascending movement is the level of 1.0465, one can consider buying the pair with the tight stop. If the price falls down lower than 1.0360, this case scenario will be cancelled.