Forex Technical Analysis 2012/20/06 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

Forecast for June 20^th, 2012

EUR/USD

The EUR/USD currency pair continues moving inside the ascending channel, the closest target of the growth is the area of 1.2745. One can consider buying Euro with the tight stop. The target of the ascending pattern is the area of 1.29. At the daily chart the RSI indicator has tested the trend’s broken line, which also indicates that Euro may continue growing up. If the price falls down lower than 1.25, this scenario will be cancelled.

GBP/USD

The GBP/USD currency pair is also moving according to our forecast, right now we should expect the price to continue growing up towards the area of 1.5745. One can consider buying Pound with the tight stop from the current levels. If the pair falls down lower than 1.5605, this scenario will be cancelled.

USD/CHF

The USD/CHF currency pair continues moving inside the descending pattern with the target in the area of 0.9280. The closest target of the fall is the area of 0.9280. One can consider selling Franc aggressively from the current levels with the tight stop above 0.9605 and increase the amount of sales only after the price breaks the level of 0.9490.

AUD/USD

Australian Dollar is moving according to our forecast, the price has almost reached the target at the level of 1.0185. One is advised to hold long positions. If the price falls down lower than 1.0145, one should stop buying the pair and close positions.

NZD/USD

New Zealand Dollar has almost reached the targets of the ascending pattern. One is advised to hold buy orders up to the level of 0.7990. If the price falls down lower than 0.7905, this scenario will be cancelled. Overall, the price is forming a new ascending pattern. After the pair reaches the target level, we should expect the price to be corrected and then start moving upwards again.