Forex Technical Analysis 2010/11/15. EUR/USD, GBP/USD, USD/CHF, AUD/USD, USD/CAD Forecast FX.

EUR USD Forecast Nov 16 2010

According to eurusd forecast, the EUR/USD currency pair keeps falling down into the area of 1.3440. Currently we can see the descending pattern forming with the target in the area of 1.3420-1.3425. One should consider buying the pair only if the price breaks the channel’s upper border. At the moment one can try the tight stop sales.

GBP USD Forecast Nov 16 2010

In case of Pound we can see the formation of something which looks like the “triangle”. Judging by gbpusd forecast we should expect the price to test the pattern’s lower border in the area of 1.6010 where we can try to buy the pair with the target of 1.6195. One is recommended to open long positions only if the price leaves the descending channel.

USD CHF Forecast Nov 16 2010

As it seen from technical analysis usd chf  the USD/CHF currency pair has completely formed the rising pattern with the target of 0.9840. After the price breaks the channel’s lower border, one should consider selling the pair with the target in the area of 0.9570.

AUD USD Forecast Nov 16 2010

It seems like Australian Dollar will be corrected. According to aud usd analysis the descending trend’s line has been broken at the forex online RSI indicator, and we can see the formation of “failure swing” pattern. The target of the growth is the area 0.9935. The stop must be hidden behind local minimum.

USD CAD Forecast Nov 16 2010

Canadian Dollar is very close to the descending channel’s upper border. The target of the fall is the area of 0.9955. Judging by usdcad forecast you should consider selling the pair with the stop of above 1.0145 only if the price leaves the descending channel.