Forex Technical Analysis 2011/01/09 (EUR/USD, GBP/USD, USD/CHF, OIL) Forecast FX
31.08.2011
Forecast for September 1st, 2011
EUR/USD
The EUR/USD currency pair keeps moving inside the descending channel, the target of the fall is the area of 1.4367. One can consider selling the pair with the tight stop above 1.4465. But if the price breaks the level of 1.4485, this case scenario will be cancelled.
GBP/USD
The GBP/USD currency pair also keeps moving downwards according to the forecast. The price testing the trend’s descending line at the RSI is a signal to sell the pair, we should expect the price to rebound from t and start moving downwards. The target of the fall is the area of 1.6120. But if the price breaks the descending channel’s upper border, this case scenario will be cancelled.
USD/CHF
Franc is moving inside the rising pattern with the final target in the area of 0.8277. At the moment the price is testing the channel’s lower border, one can try to buy the pair with the tight stop. But if the price breaks the level of 0.7945, this case scenario will be cancelled.
OIL
Oil keeps moving inside the descending pattern. At the moment we should expect the price to fall down into the area of 73.23. The price testing the trend’s descending line at the RSI is an additional signal to sell the instrument. But if Oil grows higher than 90, this case 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.