Forecast for April 15th, 2011EUR/USD
The EUR/USD currency pair has reached all the targets of the correction in the area of 1.4400. Currently we should expect the price to reach a new local maximum at the level of 1.4570. The price testing the trend’s rising line at the RSI is an additional signal to buy the pair. If the price reaches a new local minimum in the area of 1.4350, this case scenario will be cancelled.
Pound keeps moving inside the rising channel, the target of the growth is the area of 1.6463. At the moment the price is back to the level where the descending channel has been broken and one can try to buy the GBP/USD currency pair with the tight stop. If the price breaks and leaves the rising channel, this case scenario will be cancelled.
In case of the EUR/JPY currency pair we can see the formation of the rising “Wolfe Wave”. The target of the growth is the area of 123.15. At the moment the price is testing the area where we can buy the pair, but one is recommended to open long positions only if the price grows higher than the support level, 119.55. The stop must be below 119.25.
New Zealand Dollar is moving inside the rising pattern with the target in the area of 0.8010. One can try to buy the pair with the tight stop near the channel’s lower border. If the price breaks and leaves the channel, this case scenario will be cancelled.