Forex Technical Analysis 21.02.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)
21.02.2013
Analysis for February 21st, 2013
EUR/USD
The EUR/USD currency pair reached a local minimum target of this correctional wave and may start forming a reversal pattern. The first target is to test the level of 1.3400 from below. If the market is able to form a pivot point, we can expect a new ascending trend to start.
GBP/USD
The GBP/USD currency pair completed a descending wave; now the market may start forming a reversal pattern. The first target is at 1.5755, the next one may be at the level of 1.6000.
USD/CHF
The USD/CHF currency pair reached a local target of this correction. I think today the price may start a new descending movement to test the level of 0.9180. The structure of this descending movement will help us to define, whether it’s a new trend or just a correction.
USD/JPY
The USD/JPY currency pair continues moving inside a consolidation channel near its maximums. I think today the price may leave this channel upwards, reach the target at 95, and then start forming a new correction towards the level of 91.
AUD/USD
Australian Dollar continues moving downwards. I think today the price may reach the target at 1.0216, return to the level of 1.0290, and then start a new descending movement to reach a new minimum and the target at 1.0210.
GOLD
Gold continued moving downwards and reached its local target. I think today the instrument may form an ascending structure to return to the level of 1660 and then start a new descending movement towards the level of 1525.
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.