Forex Technical Analysis 2011/02/05 (EUR/USD, USD/CHF, AUD/USD) Forecast FX
30.04.2011
Forecast for May 2nd, 2011
EUR/USD
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.
USD/CHF
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.
AUD/USD
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.
Attention!
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.