Forex Technical Analysis 2012/22/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, NZD/USD) Forecast FX
21.08.2012
Forecast for August 22nd, 2012
EUR/USD
The EUR/USD currency pair continues moving according to the forecast, by now the price has breached the resistance level in the area of 1.24. We should expect the test of this area and consider opening new long positions. Aggressive traders are advised to buy Euro from the current levels. The target of the growth is the area of 1.2535. If the price falls down lower than 1.2285, this scenario will be cancelled.
GBP/USD
The GBP/USD currency pair is also moving according to the forecast, the price is forming the ascending pattern at the H1 chart. The target of the growth is the area of 1.5825. We should expect Pound to be corrected form the current levels towards the area of 1.5730, where one can consider buying the pair. If the price falls down lower than 1.5710, this scenario will be cancelled.
USD/CHF
The USD/CHF currency pair is moving inside the descending channel. We should expect the price to be corrected towards the area of 0.9720, where one can consider selling Franc with the tight stop. The target of the fall is the area of 0.9630. If the price grows up higher than 0.9770, this scenario will be cancelled.
AUD/USD
Australian Dollar has rebounded from the ascending channel’s lower border. There is a possibility that the price may form “upside down head & shoulders” reversal pattern. The pair is expected to fall down towards the area of 1.0460, where one can consider buying it with the tight stop. We recommend to increase the amount of long positions only after the price breaks the level of 1.0530. If the price falls down lower than 1.0410, this scenario will be cancelled.
NZD/USD
New Zealand Dollar is moving according to the forecast, the price is forming the ascending pattern at the H1 chart. At the moment one can consider selling the pair with the target in the area of 0.8090, near which one can also try to buy the pair aggressively. The target of the growth is the area of 0.8170. If the price falls down lower than 0.8060, this scenario will be cancelled.
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.