Forex Technical Analysis 2011/29/06 (EUR/USD, NZD/USD, AUD/USD, S&P500) Forecast FX
28.06.2011
Forecast for June 29th, 2011
EUR/USD
The EUR/USD currency pair keeps moving upwards. One can consider selling the pair when the RSI indicator tests the trend’s descending line. The target of the fall is a support line in the area of 1.4100. The stop must be above 1.4335.
NZD/USD
New Zealand Dollar is moving sidewards. Currently we can see the formation of “flag” pattern with the target in the area of 0.7909, a pattern of continued trend. One can consider selling the pair only after the pair leaves the rising channel. Thestopmustbeabove0.8080.
AUD/USD
Australian Dollar is moving inside the descending pattern with the target in the area of 1.0339. One can either try to sell the pair near the descending channel’s upper border, or wait for the price to break the rising channel with the stop above 1.0510. But if the price breaks the level of 1.0535, this case scenario will be cancelled.
S&P
S&P 500 Index is moving according to the forecast, currently we can see the formation of the descending pattern with the target in the area of 1226. One can consider selling the instrument near the level of 1286. But if the price breaks the descending channel’s upper border and leaves it, 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.