Forecast for April 4th, 2012
The EUR/USD currency pair continues moving according to our forecast. The price is forming “triangle” pattern and currently testing the pattern’s lower border. One can consider buying Euro with the tight stop and increase the amount of purchases only after the price breaks the level of 1.3385. The target of “triangle” pattern is the area of 1.3515. If the pair falls down lower than 1.3265, this case scenario will be cancelled.
Pound is also moving according to the forecast, the price rebounded from the ascending channel’s upper border. At the moment we should expect the pair to fall down to the level of 1.5940, where one can consider buying Pound with the tight stop. The target of the growth is the area of 1.62. One can also consider buying the pair after the price breaks the level of 1.6070.
Franc was corrected a bit, however, the pair is still moving inside the descending channel. One can consider selling the pair with the tight stop near the channel’s upper border. The target of the fall is the area of 0.8860. We recommend you to increase the amount of short positions only after the price breaks the level of 0.90. If the pair grows higher than 0.9070, this case scenario will be cancelled.
New Zealand Dollar continues moving inside the sideways trend. The pair tested the upper border of this range; however, it didn’t break the border upwards. At the moment the price is forming an ascending pattern at the H1 chart and testing the ascending channel’s lower border. One can consider buying the pair with the tight stop. The target of the growth is the area of 0.8330. If the price falls down lower than 0.8190, this case scenario will be cancelled.
At the M30 chart of the USD/CAD currency pair the price is forming a descending pattern. One can consider opening short positions near the level of 0.9925. The target of the fall is the area of 0.9860. If the price grows higher than 0.9955, this case scenario will be cancelled.