Forex Technical Analysis 2011/10/11 (EUR/USD, USD/CHF, AUD/USD, SILVER) Forecast FX
09.11.2011
Forecast for November 10th, 2011
EUR/USD
The EUR/USD currency pair is moving according to the forecast. Currently the closest target of the fall is the area of 1.3285. The price has left the rising channel, one can consider selling the pair with the tight stop. If the price grows higher than 1.3880, this case scenario will be cancelled.
USD/CHF
The USD/CHF currency pair is moving inside the rising channel. At the moment the price is testing the area of the 5th pivot point. One can consider buying the pair near the level of 0.8913, the target of the growth is the area of 0.9260. If the price breaks the channel’s lower border and leaves it, this case scenario will be cancelled.
AUD/USD
At the H4 chart of the AUD/USD currency pair we have “head & shoulders” reversal pattern forming, the target of the fall is the area of 0.9580. At the moment the price is breaking the neckline, one can consider selling the pair with the stop above 1.0395.
SILVER
Silver is moving inside the descending channel, the price is testing the area for sales. One can consider selling the instrument after the price breaks the rising channel’s lower border and leaves it. The price testing the trend’s descending line at the RSI is an additional signal to sell Silver. If the instrument grows higher than 39.50, 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.