Forex Technical Anlaysis 30 July 210 ( EUR/USD, GBP/US)

Forex Technical Analysis Outlook 30 July 2012 (EUR/USD, GBP/USD) Forecast

Forecast for July 30 2012

By- Roboforex

EUR/USD

The EUR/USD currency pair is still being corrected. The price is forming the ascending symmetrical pattern with the target at the level of 1.2405, one can consider buying the pair from the current levels with the tight stop. If the price falls down lower than 1.2225, this scenario will be cancelled. The test of the trend’s ascending line at the RSI is an additional signal to buy Euro.

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GBP/USD

The GBP/USD currency pair is also being corrected. At the daily chart we have “upside down head & shoulders” reversal pattern forming, the pair is expected to continue growing up. The target of the growth is the area of 1.6065. One can consider buying the pair after the price breaks the level of 1.5810. If the price falls down lower than 1.5470, this scenario will be cancelled.

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