Forex Technical Analysis 2012/20/04 (EUR/USD, GBP/USD, USD/CHF, USD/CAD) Forecast FX
19.04.2012
Forecast for April 20th, 2012
EUR/USD
The EUR/USD currency pair continues moving according to our forecast. We should expect the price to test the area of 1.3035, where one can consider buying the pair with the tight stop. The closest target of the growth is the area of 1.3175. If the price breaks this level, it will continue moving upwards into the area of 1.3350. If the pair falls down lower than 1.2985, this scenario will be cancelled.
GBP/USD
The GBP/USD currency pair continues moving upwards, at the moment the price is testing the support area. One can consider buying the pair with the tight stop. The target of the growth is the area 1.6125. The test of the trend’s ascending line at the RSI is an additional signal to buy Pound. If the price falls down lower than 1.5960, this scenario will be cancelled.
USD/CHF
The USD/CHF currency pair is also moving according to our forecast. At the moment the price is testing the descending channel’s upper border, we should expect a rebound from the current levels and the start of the descending movement with the target in the area of 0.9085. One can consider selling the pair with the tight stop. The test of the trend’s descending line at the RSI will be an additional signal to sell the pair.
USD/CAD
Canadian Dollar continues moving inside the descending pattern. We should expect the price to test the area of 0.9950, where one can consider selling the pair with the tight stop. The target of the fall is the area of 0.9825. The test of the trend’s descending line at the RSI is an additional signal to sell the pair. If the price grows up higher than 0.9980, this scenario will be cancelled.
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.