Analysis for March 14th, 2013
The EUR/USD currency pair continues moving downwards. I think today the price may reach a new minimum at the level of 1.2920 and then start growing up towards the level of 1.3030. Later, in my opinion, the price may start a new descending movement towards the target at 1.2880 and then start moving upwards again to reach the level of 1.3195.
The GBP/USD currency pair finished the first ascending wave. I think today the price may complete the correction towards the level of 1.4900. Later, in my opinion, the pair may start a new ascending structure to reach the level of 1.5040, consolidate for a little bit, and the move towards the target at 1.5100.
The USD/CHF currency pair continues forming an ascending structure. I think today the price may reach a new maximum at the level of 0.9555 and then start falling down towards the target at 0.9430. After completing this five-wave structure, the pair may continue moving downwards to reach the level of 0.9300.
The USD/JPY currency pair finished the first descending structure. I think today the price may form an ascending correction towards the level of 96.45. Later, in my opinion, the pair may continue falling down towards the level of 95 and then start a new ascending movement to reach the targets at 97 and 98.
Australian Dollar continues forming the second ascending impulse; the rice is expected to reach the level of 1.0390. Later, in my opinion, the pair may form a correction to return to the level of 1.0300 and then start another ascending structure with the target at 1.0420.
Gold broke its consolidation channel upwards. I think today the instrument may test the broken channel from above, continue moving towards the target at 1608, and near this level form a new consolidation channel with a continuation pattern. A local target is at 1645.
RoboForex Analytical Department