Forex Technical Analysis 2011/04/08 (EUR/USD, GBP/USD, USD/CHF, AUD/USD, GBP/CHF) Forecast FX

Forecast for April 8th, 2011

EUR/USD

The EUR/USD currency pair is moving inside the rising channel. One can try to buy the pair with the target of 1.4445 starting from the level of 1.4265. If the price breaks the channel’s lower border, this case scenario will be cancelled.

 

GBP/USD

The target of the growth is the area of 1.6400. One can either consider buying the pair near the level of 1.6245, or wait for the test of the trend’s rising line at the RSI. If the price leaves the rising channel, this case scenario will be cancelled.

 

USD/CHF

In case of Franc we can see that the descending pattern with the target in the area of 0.9035 is still being formed. At the moment we should expect the price to fall into the area of 0.9070, then to be corrected to the channel’s upper border in the area of 0.9165 where we can consider selling the pair and wait for final falling wave.

 

AUD/USD

Australian Dollar keeps moving inside the rising channel, the target of the growth is the area of 1.0565. One can consider buying the AUD/USD currency pair near the channel’s lower border. If the price breaks and leaves the channel’s border, this case scenario will be cancelled.

 

GBP/CHF

In case of the GBP/CHF currency pair we can see the formation of the rising pattern with the target in the area of 1.5460. One should consider buying the pair with the tight stop starting from the level of 1.5025. If the price breaks the channel’s lower border, this case scenario will be cancelled.