Forecast for June 25th, 2012
The EUR/USD currency pair has been corrected for some time. At the moment the RSI indicator is testing the descending trend’s broken line, we should expect it to rebound and start moving upwards. The target of the growth is the area of 1.2980, the test of the similar trend’s line at the price chart.
At the H4 chart the price continues forming the ascending pattern with the target in the area of 1.2880. The pair is testing the ascending channel’s lower border. The test of the trend’s ascending line at the RSI is a signal to buy the pair. If Euro falls down lower than 1.2480, this scenario will be cancelled.
The GBP/USD currency pair continues moving inside the ascending channel. The price is testing the channels’ lower border, we should expect it to rebound and start moving upwards. The target а the growth is the area of 1.5950. If Pound falls down lower than 1.5560, this scenario will be cancelled.
The USD/CHF currency pair continues moving inside the descending pattern, the target of the fall is the area of 0.93. One can consider aggressive sales with the tight stop above 0.9620 from the current levels and increase the amount of short positions only after the price breaks the level of 0.9530.
The AUD/USD currency pair continues moving inside the ascending pattern, the price has reached the target area. One can consider buying Australian Dollar with the tight stop below 1.0010 from the current levels. The target of the growth is the area of 1.0420. We recommend to increase the amount of long positions only after the price breaks the level of 1.1080.