Forecast for June 8th, 2012
The EUR/USD currency pair continues moving according to the forecast. At the moment the price may grow up into the area of 1.2690, which is expected to be a starting point of the correction. One can consider buying the pair near the level of 1.2585, the target of the ascending pattern is the area of 1.2840. If Euro falls down lower than 1.2510, this scenario will be cancelled. Right now one can try to buy the pair from the current levels with the tight stop.
The GBP/USD currency pair has also started moving upwards. We should expect Pound to continue growing up into the area of 1.5640, where one can consider selling it. The target of the ascending pattern is the area of 1.5685. One can try to buy the pair near the level of 1.5515. If the price falls down lower than 1.5410, this scenario will be cancelled.
The USD/CHF currency pair continues moving according to the forecast. Right now the closest target of the fall is the area of 0.9440. One can consider selling the pair with the tight stop above 0.9585 and increase the amount of sales only after the price breaks the level of 0.9520. If Franc grows up higher than 0.9610, this scenario will be cancelled.
Australian Dollar continues moving upwards, the pair has reached all the targets of the reversal pattern. By now the price has got very close to the descending channels’ upper border. We should expect the pair to rebound from the border to the level of 0.9850, where one can consider buying it. If the price breaks the area of 1.0060, the pair may start growing up.
New Zealand Dollar also continues moving upwards. The closest target of “triangle” pattern is the area of 0.7820. One is advised to hold long positions and open new buy orders near the level of 0.7705. In the price falls down lower than 0.7660, this scenario will be cancelled.