Forex Technical Analysis 08.02.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for February 8^th, 2013

EUR/USD

The EUR/USD currency pair finished the third descending wave inside the current correction. I think today the price may return to the level of 1.3490, at least, and then form another descending structure to reach the target at 1.3330. Later, in my opinion, the pair may form a pivot point for a new ascending movement towards the 1.3980.

GBP/USD

The GBP/USD currency pair completed the first ascending wave. I think today the price may start a correction towards the level of 1.5680 and then form a new ascending wave to break the latest descending channel. A predicted target is at 1.5900.

USD/CHF

The USD/CHF currency pair finished an ascending wave. I think today the price may start a correction of this wave towards the level of 0.9100 and then form a new ascending structure to reach the target at 0.9265.

USD/JPY

The USD/JPY currency pair finished a descending impulse. I think today the price may return to the level of 93.50. If later the market renews the minimum of this impulse, the price may start another descending structure. But if the market renews the maximum, the pair may continue growing up towards the level of 95.15.

AUD/USD

Australian Dollar reached another target of the fall. I think today the pair may start a correction towards the level of 1.0415 and then form a new descending structure to reach the target at 1.0235.

GOLD

Gold continues moving inside triangle pattern. I think today the instrument may continue falling down to reach the level of 1650 and then start forming any type of reversal pattern for a new ascending movement. The target is at 1707. Only after that the price may start a new descending wave towards the level of 1620, at least.



 
RoboForex Analytical Department