Forex Technical Analysis 2012/09/07 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX

Forecast for July 9^th, 2012

EUR/USD

The EUR/USD currency pair is moving according to the forecast, at the moment we should expect the price to continue falling down. The closest target of the fall is the area of 1.22. One can consider selling Euro from the current levels with the tight stop. If the price grows up higher than 1.2445, this scenario will be cancelled. We recommend to increase the amount of short positions only after the price breaks the level of 1.2340.

GBP/USD

The GBP/USD currency pair has fallen down lower than we expected. The price was supported by the trend’s ascending line at the RSI, we should expect it to rebound from the current levels and start moving upwards. One can consider buying the pair with the tight stop. The target of the growth is the area of 1.5630.

USD/CHF

The USD/CHF currency pair has reached the target in the area of 0.9680 and right now continues moving inside the ascending channel. One can consider buying the pair from the current levels with the tight stop. The target of the growth is the area of 0.9765. If the price falls down lower than 0.9670, this scenario will be cancelled.

AUD/USD

Australian Dollar continues moving downwards according to the forecast. Currently one can consider selling the pair from the level of 1.03 and increase the amount of sales after the price breaks the level of 1.0240. The target of the pattern is the area of 1.01. If the price grows up higher than 1.0340, this scenario will be cancelled.

NZD/USD

New Zealand Dollar is also moving according to the forecast. The pair hasn’t been able to break the level of 0.81. One can consider selling the pair from the current levels with the tight stop and increase the amount of sales only after the price breaks the level of 0.80. The target of the fall is the area of 0.7845.