Forex Technical Analysis 2011/03/07. EUR/USD, GBP/USD, USD/CAD, GOLD Forecast FX.
EUR USD Forecast March 07 2011
The EUR/USD currency pair is moving according to the eurusd forecast. At the moment we can see the formation of the rising pattern with the target in the area of 1.4060. One can try to buy the pair with the tight stop. But if the price breaks the rising channel’s lower border, this case scenario will be cancelled.
GBP USD Forecast March 07 2011
Unlike Euro, which is growing steadily, Pound is not moving much. At the H4 chart we can see the formation of the rising pattern, now the price is in the middle of it. According to the gbpusd analysis we should expect the price to grow to the area of 1.6490 and then to be corrected.
USD CAD Forecast March 07 2011
As it is seen from the usd cad analysis Canadian Dollar is stuck inside the “triangle”. After the price breaks the lower border, one can try to sell the pair with the stop above 0.9745. The target of the fall is the area of 0.9670. One can consider selling the pair with minimal risk near the “triangle’s” upper border. But if the price grows higher than the level of 0.9745, this case scenario will be cancelled
GOLD Forecast March 07 2011
GOLD keeps moving according to the online forex trading forecast of 26th January. At the moment the target of the growth is the area of 1455. One can try to buy GOLD with the stop below 1407. If the price breaks the channel’s lower border, this case scenario will be cancelled.
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.