Forex Technical Analysis 18.02.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)
18.02.2013
Analysis for February 18th, 2013
EUR/USD
The EUR/USD currency pair is consolidating near its minimums; the price is in the middle of the fifth descending wave with the target at 1.3240. I think today the pair may leave this consolidation channel downwards, reach the level of 1.3240, and then form a reversal pattern to start a new ascending movement.
GBP/USD
The GBP/USD currency pair is still consolidating near the level of 1.5500. I think today the price may continue falling down towards the target at 1.5330, move upwards a little bit to reach the level of 1.5590, and then fall down again.
USD/CHF
The USD/CHF currency pair continues forming an ascending wave. I think today the price move downwards a little bit to test the level of 0.9200 from above and then continue growing up towards the target at 0.93330
USD/JPY
The USD/JPY currency pair is still moving upwards. I think today the price may continue growing up towards the level of 94.90.
AUD/USD
Australian Dollar broke its consolidation and returned into the descending channel. I think today the price may return to the level of 1.0325 to test it from below and move downwards to reach the target at 1.0250. Later, in my opinion, the pair may start a consolidation near the above-mentioned target and then continue falling down towards the level of 1.0210.
GOLD
Gold is returning to the level of 1630 to test it from below. Later, in my opinion, the instrument may continue falling down to reach the target at 1570.
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.