Forecast for April 19th, 2012
The EUR/USD currency pair didn’t start moving in an upward direction, currently the price is falling down, however, there is still a possibility that Euro may grow up. We should expect the price to test the area of 1.3045, where one can consider buying Euro with the tight stop. The closest target of the growth is the area of 1.3175, and after the pair breaks it, the pair may continue growing up towards the level of 1.3355. If the price falls down lower than 1.2990, this case scenario will be cancelled.
The GBP/USD currency pair is moving according to our forecast, currently the price is trying to break the resistance level of 1.5965. If the pair stays above this level, the price may continue growing up towards the area of 1.6050. One can consider buying Pound near the level of 1.5970. If the price falls down lower than 1.5935, this case scenario will be cancelled.
The USD/CHF currency pair is also being corrected. The structure of the price movement looks more alike a reversal pattern, which implies that the pair may start falling down. One can consider selling the pair near the level of 0.9215, and increase the amount of sales after the price breaks the level of 0.9125. The target of the fall is the area of 0.9010. If Franc grows up much higher than 0.9260, this case scenario will be cancelled.
Canadian Dollar is moving according to the forecast, currently the pair is being corrected. The closest target of the growth is the area of 0.9945, where one can consider selling the pair with the tight stop. The target of the fall is the area of 0.9840. If the pair grows up much higher than 0.9985, this case scenario will be cancelled.
Australian Dollar is also being corrected, at the moment the pair continues moving downwards. The price is forming “upside down head & shoulders” reversal pattern, that’s why right now one can consider buying the pair. The test of the trend’s ascending line at the RSI at the H4 chart is an additional signal to buy the pair. If the price falls down lower than 1.0305, this case scenario will be cancelled.