The EUR/USD currency pair is moving according to the forecast, it has already reached the first target at the level of 1.2540. At the moment we should expect the price to continue moving downwards into the area of 1.24. Judging by the structure of the daily chart we may assume that in the nearest future the pair may fall down towards the level of 1.21. Currently we can recommend to sell Euro from the level of 1.25 with the stop above 1.2545 and increase the amount of long-term sales after the price breaks the level of 1.24. If the price grows up higher than 1.27, the scenario, which implies that the price may fall down into the area of 1.21, will be cancelled.
The GBP/USD currency pair has reached the target in the area of 1.5575. Currently we should expect the price to be corrected into the area of 1.5645, where one can consider selling Pound. Thus, we can recommend to buy the pair aggressively with the tight stop below 1.5550. The test of the trend’s ascending line at the RSI at the H4 chart is an additional signal of a possible correction.
The USD/CHF currency pair has almost reached the target in the area of 0.9680. After the price breaks this level, the pair is expected to continue growing up towards the area of 0.9890. At shorter time frame the price may be corrected to the level of 0.9630, where one can consider buying Franc. The closest target of the growth is the area of 0.9730. If the price falls down lower than 0.9580, this scenario will be cancelled.
Despite our expectations Australian Dollar is moving upwards. At the H4 chart the price is forming “failure swing” reversal pattern with the closest target in the area of 1.0220. One can consider aggressive sales form the current levels. If the price grows up higher than 1.0370, this scenario will be cancelled.
New Zealand Dollar has also grown up a bit, however, there is still a possibility that it may fall down. One can consider selling the pair from the current levels with the tight stop. The test of the trend’s descending line at the RSI at the daily chart is an additional signal to sell the pair. If the price grows up higher than 0.81 by the end of the day, this scenario will be cancelled.