Forecast for May 2nd, 2011
The EUR/USD currency pair keeps moving inside the rising pattern with the final target in the area of 1.5050. Currently we should expect the price to grow to the level of 1.4920, which may be a starting point of the correction to the 5th
point of reference in the area of 1.4600. One can try to buy Euro during a long term period near the channel’s lower border. But if the price breaks the channel’s lower border, this case scenario will be cancelled.
Franc is moving inside the descending channel, the target of the fall is the area of 0.8571. One can try the tight stop sales. If the price breaks the channel’s upper border, this case scenario will be cancelled.
Australian Dollar keeps moving upwards, the target of the growth is still the area of 1.1046. By the moment the AUD/USD currency pair has broken the symmetrical triangle upwards. One can try to buy the pair with the tight stop. If the price breaks the channel’s lower border, this case scenario will be cancelled.