Forex Technical Analysis 2011/02/01. EUR/USD,GBP/USD, USD/CHF, GOLD Forecast FX.

EUR USD Forecast Feb 01 2011

According to the eurusd analysis the EUR/USD currency pair is testing the rising channel’s lower border, and we should expect the price to start moving upwards. The first target of the growth is 1.3850, then, the main target of the rising pattern - 1.4095.One can try to buy thepair with the tight stop. If the price leaves the channel, we can expect the pair to move down and a possible change of the trend as well.

GBP USD Forecast Feb 01 2011

As it is seen from the forex online gbpusd analysis pound is still inside the rising pattern. One can consider buying the GBP/USD currency pair with the stop below 1.5815. We should increase the amount of long positions only after the price breaks the neckline. But if the price breaks the trend’s rising line and moves down into the area of 1.5740, this case scenario will be cancelled.

USD CHF Forecast Feb 01 2011

In case of the USD/CHF currency pair we can see that the descending pattern with the main target in the area of 0.9120 is still being formed. Currently we should expect Franc to fall into the area of 0.9205 where the 4^th point of reference is formed.  According to the technical analysis usd chf you can try final sales of the pair in the area of 0.9350 only. But if the price breaks the descending channel, this case scenario will be cancelled.

GOLD Forecast Feb 01 2011

In case of GOLD all the targets of the descending patterns have been reached. At the moment we have “head & shoulders” reversal pattern forming with the target in the area of 1386. We should expect the price to fall to the level of 1325 where we can try to buy GOLD with the tight stop below 1316. The final target of the growth is the area of 1500, so don’t be in a hurry to capture the profit from long positions.