Analysis for March 15th, 2013
The EUR/USD currency pair reached its target. I think today the price may form a new descending structure and reach a new minimum at 1.2880. Later, in my opinion, the market may start another ascending structure with the target at 1.3190.
The GBP/USD currency pair is forming the second ascending wave. I think today the price may reach the level of 1.5130 and then fall down towards the target at 1.5030. Later, in my opinion, the pair may start forming the third ascending wave with the target at the level of 1.5200.
The USD/CHF currency pair started a descending wave. Right now the price is forming the first impulse and moving near the ascending channel’s lower border. I think today the market may move upwards and reach a new maximum. Later, in my opinion, the pair may start falling down to reach the level of 0.9300.
The USD/JPY currency pair is consolidating near its maximums. I think today the price may continue forming a descending structure and start a slight correction towards the level of 95.
Australian Dollar completed the second ascending wave inside the current correction. I think today the price may start a new descending movement to return to the level of 1.0300. Later, in my opinion, the pair may form another ascending structure to reach the levels of 1.0420 and 1.0470.
Gold continues forming an ascending structure. I think today the instrument may reach the level of 1608. Later, in my opinion, the price may form a consolidation channel to continue growing up. A local target is at 1645. After that I expect the market to start a correction to return to the level of 1608.
RoboForex Analytical Department