Forex Technical Analysis 07.02.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)
07.02.2013
Analysis for February 7th, 2013
EUR/USD
The EU/USD currency pair continues consolidating near the level of 1.3520. I think today the price may leave this trading range upwards and start a correction towards the level of 1.3330. However, the structure of the first descending impulse implies that the price may move upwards a little bit to reach the level of 1.3660 and only after that start a new descending movement.
GBP/USD
The GBP/USD currency pair continues consolidating near its minimums. I think today the pair may form any type of reversal pattern to start growing up and break the latest descending channel.
USD/CHF
The USD/CHF currency pair formed the second ascending impulse. I think today the price may start a consolidation to break the level of 0.9100 and then continue growing up towards the target at 0.9175.
USD/JPY
The USD/JPY currency pair continues moving upwards. I think today the price may consolidate for a while at the current levels and then continue growing up towards the target at 94.65.
AUD/USD
Australian Dollar is still consolidating near its minimums. I think today the pair may grow up towards the target at 1.0400.
GOLD
Gold continues moving near triangle’s upper border. I think today the instrument may fall down towards the lower border and even reach the level of 1650. Later, in my opinion, the price may start forming a new ascending wave towards the target at 1707.
RoboForex Analytical Department
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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.