Forecast for September 28th, 2011
The EUR/USD currency pair is moving according to the forecast. We can see that “double bottom” reversal pattern has been completely formed with the target of the growth in the area of 1.3770. The price has broken the resistance level, one can try to buy the pair with the tight stop. But if the price breaks the level of 1.3530, this case scenario will be cancelled.
Franc is also moving according to the forecast. At the moment the price is testing the rising channel’s lower border, we should expect it to rebound from the border. Also, there is a risk that the pair may grow into the area of 0.9294. One can try to buy the pair with the tight stop. But if the price breaks the channel’s border and leaves it, this case scenario will be cancelled.
The EUR/JPY currency pair is moving inside the rising channel, and we can see the formation of the rising pattern with the target in the area of 105.55. One can consider buying the pair near the channel’s lower border in the area of 104.45. But if the price breaks the channel’s border and leaves it, this case scenario will be cancelled.
In case of New Zealand Dollar the closest target of the growth is the area of 0.8140. The RSI indicator has broken the descending trend’s line. We should expect the price to test the line and then consider buying the pair. The stop must be placed below 0.7820.