Forex Technical Analysis 13.05.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for May 13^th, 2013

EUR/USD

Euro is still moving inside a descending wave. We think, today the price may return to the level of 1.3000 and then form another descending structure towards the target at 1.2840. Later, in our opinion, the pair may start one more correction to return to the level of 1.3000 once again.

GBP/USD

Pound is moving inside another descending structure with the target at 1.5310. We think, today the price may form a correction to return to the level of 1.5448 and then start a new descending movement towards the target at 1.5290. Later, in our opinion, the par may start forming the fifth ascending wave.

USD/CHF

Franc continues forming an ascending wave, the third one. The market formed a continuation pattern at the level of 0.9486. We think, today the price may test this level from above and then continue growing up to reach the target at 0.9725. Later, in our opinion, the pair may start a correction towards the level of 0.9470.

USD/JPY

The USD/JPY currency pair broke its consolidation channel upwards. We think, today the price may start moving downwards to test the level of 99.90 from above and then form another ascending structure to reach the level of 103. Later, in our opinion, the pair may form a pivot point and a reversal pattern for a new correction towards the level of 88.20.

AUD/USD

Australian Dollar reached the target at 1.0085 and may continue falling down towards the lower border of diamond pattern from the weekly chart. We think, today the price may return to the level of 1.0085 and then start another descending movement to reach the target at 0.9890.

GOLD

Gold completed a descending correction towards the lower border of divergent triangle pattern. We think, today the price may start a new ascending structure, the first one, towards the target at 1450. Later, in our opinion, the instrument may form a correction towards the level of 1435 and then start a new ascending movement to reach the target at 1490.



 
RoboForex Analytical Department