Forex Technical Analysis 25.02.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)
25.02.2013
Analysis for February 25th, 2013
EUR/USD
The EUR/USD currency pair is still consolidating near its minimum. The structure of this consolidation is reversal, but not a very strong one. I think during a correction the price may reach the pair may reach the level of 1.3400 and then move towards a new minimum. The target is at 1.3120.
GBP/USD
The GBP/USD currency pair renewed its minimums and then started forming new ascending impulses. I think today the price may continue growing up and break the previous descending channel, thus forming head and shoulders reversal pattern. The next target level is at 1.5755.
USD/CHF
The USD/CHF currency pair continues consolidating near its maximums. I think today the price may start a slight correction and then move upwards again to reach the level of 0.9340. After reaching this target, the pair may form a reversal pattern and start moving downwards.
USD/JPY
The USD/JPY currency pair is moving upwards near its maximums. Today the market was opened with a gap up, which helped the price to reach the level of 94 quite fast. I think the price may continue growing up towards the target at 95. Later, in my opinion, the pair may start a slight correction and then move upwards to reach the level of 96.
AUD/USD
Australian Dollar continues forming the fifth descending structure. I think today the pair may reach the level of 1.0210 and then start forming a correction. Later, in my opinion, the price may reach the level of 1.0300 (at least) and then continue falling down.
GOLD
Gold reached its local target of the fall. The instrument formed the first ascending impulse and I think today the price may correct it. In general, the market is forming a correction with the target at 1660. By now the instrument has already broken the previous descending channel. The first target is at 1610. Later, in my opinion, the price may start a slight correction and then continue moving upwards.
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.