Forex Technical Analysis 28.08.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for August 28^th, 2013

EUR/USD

Euro is still moving above the level of 1.3344 and may continue growing up towards the target at 1.3480. We think, today the price may test the level of 1.3344 again from above and then continue moving towards the above-mentioned target. Later, in our opinion, the pair may start a descending correction to reach the level of 1.3200.

GBP/USD

Pound continue moving downwards with the target at 1.5460. After reaching it, the price may return to the level of 1.5588 to test it from below. If the market rebounds from it, the pair may start a new descending movement to reach the target at 1.5400. However, if the market stays above the level, the pair may start forming a new ascending structure towards the level of 1.5890.

USD/CHF

Franc is still moving downwards with the target at 0.9110. We think, today the price may reach it and then return to the level of 0.9250. Later, in our opinion, the pair may grow up to reach the target at 0.9400 and then continues falling down.

USD/JPY

The USD/JPY currency pair reached the target of its first descending structure. We think, today the price may reach a new minimum at the level of 96.50 and then form a correction to return to the level of 98.00. Later, in our opinion, the pair may start a new descending movement towards the next target at 95.00.

AUD/USD

Australian Dollar continues moving downwards. We think, today the price may reach the level of 0.8860, form a slight correction, and then continue falling down towards the main target of this structure at 0.8800. Later, in our opinion, the pair may start forming an ascending correction.

GOLD

Gold is extending the fifth wave; the market has already reached a local target of this extension. We think, today the price may form a descending structure towards the level of 1365 to test it from above and then complete this extension by forming one more ascending structure towards the level of 1455. Later, in our opinion, the instrument may start a fast descending movement to reach the target at 1280.



 
RoboForex Analytical Department