Forecast for June 4th, 2012
The EUR/USD currency pair continues moving according to the forecast. By now it has reached all yesterday’s target of the fall. The price may be corrected to the channel’s upper border in the area of 1.2455, which is expected to be a starting point of the descending movement. It Euro grows up higher than 1.2540, this scenario will be cancelled. One can consider buying the pair aggressively with the tight stop.
The GBP/USD currency pair continues falling down. The closest level of the correction is the area of 1.5350, where one can consider opening short positions. If the price breaks the descending channel’s upper border, we should expect a deep correction.
The USD/CHF currency pair has reached all the targets of the growth. Currently the price is testing the channel’s upper border. We should expect the price to rebound from the current levels downwards into the area of 0.9665, where one can consider buying Franc with the tight stop. If the pair breaks the channel’s lower border, one is recommended to close long positions.
Australian Dollar has reached all the targets of the fall. Right now we should expect the correction. The test of the trend’s ascending line at the RSI is a signal to buy the pair. If the price breaks the channel’s lower border, this scenario will be cancelled.