Analysis for February 26th, 2013
EUR/USD
The EUR/USD currency pair completed a descending correction and reached its targets; at the current levels the price may start forming a pivot point for a reverse. I think today the pair may start reversing and break the previous descending wave; the first target is at 1.3190. Later, in my opinion, the price may start a new correction. The structure of this movement may help us to define possible future scenarios: the pair either continues growing up, or starts forming a new consolidation channel to break its minimums.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/24/eur_usd_26.02.13.png)
GBP/USD
The GBP/USD currency pair is still moving near its minimums; the market has already formed the first ascending impulse and corrected it. I think today the price may form the second impulse and break the previous descending channel; the target is at 1.5270. Later, in my opinion, the pair may return to the level of 1.5170 and start forming head & shoulders reversal pattern with the target at 1.5500.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/25/gbp_usd_26.02.13.png)
USD/CHF
The USD/CHF currency pair renewed its maximums. I think today the price may reach the target at 0.9340 and then start forming a pivot point for a reverse. Later, in my opinion, the pair may break the previous ascending channel and continue falling down towards the level of 0.9180 to test it from above.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/26/usd_chf_26.02.13.png)
USD/JPY
The USD/JPY currency pair completed a descending correction towards the level of 91. I think today the price may start a new ascending wave with the target at 95. Later, in my opinion, the pair may consolidate for a while near this level and then continue moving upwards to reach the next target at the level of 97.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/42/usd_jpy_26.02.13.png)
AUD/USD
Australian Dollar is still falling down near the level of 1.0300; it’s the final part of the fifth wave. The target is at 1.0210. I think today the price may continue moving downwards inside this wave. The forecast of the price movement inside this structure is shown on the chart.
![](https://roboforex.com/uploads/roboforecast/roboforex_com/16/aud_usd_26.02.13.png)
GOLD
Gold continues forming another ascending structure. I think today the instrument may reach the target at 1600, form a correction towards the level of 1585, and then start a new ascending movement to break the target at 1610. After that, in my opinion, the price may start a correction towards the first ascending wave and then form
head & shoulders reversal pattern to continue moving upwards and reach the level of 1660.
RoboForex Analytical Department