VNChanger Forex News

Forecast for May 18^th, 2012

EUR/USD

The EUR/USD currency pair continues falling down, the current descending trend remains very strong. The price hasn’t formed any reversal patterns at shorter time frames and hasn’t started any serious correction, which can be used in order to sell the pair. If we take a closer look at the H4 chart, we can see that the area of 1.2640 is expected to be a starting point of the correction. The target level of the correction is the area of 1.29, where one can consider selling the pair. The target of the pattern is the area of 1.2540. Right now we recommend to stay out of the market.

GBP/USD

The GBP/USD currency pair is starting falling down faster. Right now the closest target of the fall is the area of 1.5815, which is expected to be a starting point of the correction. One can consider selling Pound with the stop above 1.5950 while the price is testing the area of 1.5920. Right now we recommend to stay out of the market.

USD/CHF

The USD/CHF continues moving upwards. By now the price has already reached the area for sales and started the descending correction towards the level of 0.9335, where one can consider buying Franc with the tight stop. Right now we recommend to avoid aggressive sales of the pair. It’s better to wait until the price forms reversal patterns at shorter time frames.

USD/CAD

Canadian Dollar is moving according to the forecast. The price has rebounded from the area for purchases and reached the closest targets of the growth at the level of 1.0150. We can expect the pair to start falling down from the level of 1.0190 into the area of 1.0130. The target of the ascending pattern is the area of 1.0225. If the pair falls down lower than 1.0090, this scenario will be cancelled. Right now we’re expecting the price to test the level of 1.0190, where one can consider selling the pair aggressively with the tight stop.

NZD/USD

The NZD/USD currency pair continues moving downwards, and right now there are no signs of the trend reverse. The price is testing the closest support level of 0.7625. If the price breaks it, the pair will continue falling down. The target of the fall is the area of 0.7540. One can consider selling New Zealand Dollar with the tight stop. If the pair grows up higher than 0.77, this scenario will be cancelled.

Forecast for May 17^th, 2012

EUR/USD

Although we expected the EUR/USD currency pair to start growing up, it continued moving downwards. We still don’t recommend selling the pair. By the moment the price has reached the first target of “triangle” pattern at the daily chart, it’s the descending channel’s lower border. We should expect the pair to rebound from the current levels in an upward direction. However, if the pair breaks the lower border, the descending trend will become stronger. Generally, the structure of the price movement implies that the price may fall down into the area of 1.25, but only after the correction from the current levels to the level of 1.30. It’s better to wait until the price forms reversal patterns at shorter time frames and then try to buy Euro with the tight stop.

GBP/USD

The GBP/USD currency pair has also fallen down a lot. However, here we also have a very strong support level. The test of the ascending channel’s lower border also implies that the pair may rebound from the current levels in an upward direction. Generally, the ascending structure at the daily chart has changed a bit, but there is still a possibility that Pound may start moving upwards. Here it’s also better to wait until the price forms reversal patterns and then try to buy the pair with the tight stop. The closest target of the growth is the area of 1.6255.

USD CHF

The USD/CHF currency pair is testing the ascending channel’s upper border, we should expect it to rebound from the current levels in a downward direction. One can consider selling the pair only after the price forms reversal patterns at shorter time frames. The target of the fall is the area of 0.9140, which is expected to be a starting point of a new ascending movement. One can either consider selling the pair aggressively with the tight stop or stay out of the market for a while.

USD/RUR

The USD/RUR currency pair is moving according to the forecast, the price has got very close to the descending channel’s upper border. One can consider selling the pair from the current levels with the tight stop above 31.90. The target of the fall is the area of 28.20. If the price breaks the upper border and leaves the descending channel, this scenario will be cancelled.

USD/CAD

Canadian Dollar also continues growing up. At the moment the price is forming the ascending pattern at the M30 chart, the target of the growth is the area 1.0150. One can consider buying the pair after the price falls down and reaches the area of 1.0060. If the pair breaks the ascending channel’s lower border and falls down lower than 1.0020, this scenario will be cancelled.

Morning Free Gold Signals 15/05/2012  08:00 AM GMT

Forex brokers review

Gold Trading

Gold Trading Forex Brokers List

Gold Signal Plus Service

Gold Rebates

Follow My Signals

Forex Tools