Analysis for February 15th, 2013
The EUR/USD currency pair is moving downwards inside the fifth structure with the target at 1.3240. The market reached the level of 1.3330 and is trying to start a correction, which is expected to be not very high. I think today the price may continue falling down towards the main target and then start forming a pivot point for a reverse.
The GBP/USD currency pair continues reaching new minimums. I think today the price may start a correction towards the level of 1.57 and start a new descending movement to reach another minimum. Only after that, in my opinion, the pair may complete this five-wave structure and form a reversal pattern for a new ascending trend.
The USD/CHF currency pair is still consolidating near its maximums; the price formed divergent triangle
pattern. I think today the pair may fall down to reach the level of 0.9180 (at least) and then continue moving upwards towards the target at 0.9280.
The USD/JPY currency pair continues moving downwards inside the third wave; the target of this structure is at the level of 91.93. Later, in my opinion, the price may return to the level of 92.85 and then start a new descending structure to break the level of 91.22. This may be the end of this correction; after the price is expected to grow up towards the target at 94.90.
Australian Dollar broke the latest descending channel and formed a consolidation channel for the future ascending movement. I think today the price may leave this channel upwards and reach the target at 1.0460.
Gold continues moving downwards. The market broke the level of 1650 downwards and may continue falling down. I think today the instrument may form a correction to return to the level of 1660 and then start a new descending structure to reach the target at 1600.
RoboForex Analytical Department