Forex Technical Analysis 2011/01/24. EUR/USD,GBP/USD, USD/CHF, USD/CAD Forecast FX.
EUR USD Forecast Jan 24 2011
As it is seen from the eurusd forecast the EUR/USD currency pair keeps moving upwards, and currently we have the rising pattern forming with the target in the area of 1.3880. One can try to buy the pair with the tight stop, but we recommend you to close long positions if the price breaks the rising channel’s lower border.
GBP USD Forecast Jan 24 2011
Pound has almost reached the area where the 4th point of reference is formed. According to the gbpusd forecast we should expect the price to fall into the area of 1.5800 where we can try to buy the pair and wait for the final wave of growth to the level of 1.6116. But if the price breaks the rising channel, this case scenario will be cancelled and we recommend you to stop buying the pair.
At the m30 online forex trading chart we have the descending pattern forming with the target in the area of 1.5813. After the pattern is completed and the price leaves the channel, one can try to buy the pair with the target of 1.6116. The stop must be behind local minimum.
USD CHF Forecast Jan 24 2011
The USD/CHF currency pair is moving according to the technical analysis usd chf, and at the moment we should expect it to grow into the area of 0.9695. One can try to buy the pair with the tight stop. The test of the trend’s rising line at the RSI (which is a support line in this case) will be one more signal to buy.
USD CAD Forecast Jan 24 2011
Canadian Dollar keeps moving downwards. The target of its movement is the area of 0.9701. According to the usd cad analysis the RSI indicator is moving inside the descending channel and currently testing the upper border, so we should expect it to hit it and go down.
At the hourly chart of the pair we have the rising pattern forming with the target in the area of 1.0065. One can try to buy the pair with the tight stop. However, if the price leaves the channel, we can consider selling the pair with the target of 0.9701.
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.