Forex Technical Analysis 29.04.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)
29.04.2013
Analysis for April 29th, 2013
EUR/USD
The EUR/USD currency pair is still moving near the level of 1.3030. Although the market is trying to move upwards, the main scenario still implies that the price may continue falling down to reach the target at 1.2940, or even lower, at 1.2880. Later, in our opinion, the pair may start forming a new ascending structure towards the level of 1.3200.
GBP/USD
The GBP/USD currency pair continues forming an ascending wave to reach the target at 1.5530. We think, today the price may reach it and then start a rapid descending movement towards the level of 1.5300. Later, in our opinion, the pair may start forming another ascending structure to reach the main target of the third wave at the level of 1.5615.
USD/CHF
The USD/CHF currency pair continues moving near the level of 0.9400. We think, today the price may form another ascending structure to reach the target at 0.9530 and then start a correction to return to the level of 0.9400. Later, in our opinion, the pair may form a new ascending wave towards the level of 0.9600.
USD/JPY
The USD/JPY currency pair is still forming a descending wave; the price renewed the last week’s minimum. We think, today the pair may move downwards with the first target at 96. Later, in our opinion, the price may form a consolidation channel to break an ascending channel and then continue falling down to reach the level of 93.70.
AUD/USD
Australian Dollar continues moving inside the fifth descending wave with the target at 1.0085. We think, today the price may continue falling down. However, an alternative scenario implies that the market may form a correction towards the level of 1.0400. Later, in our opinion, the pair may start another descending structure.
GOLD
Gold continues forming an ascending wave. We think, today the price may reach the target at 1490 and then start a descending correction to return to the level of 1415. Later, in our opinion, the instrument may form the fifth ascending wave with the target at 1500.
RoboForex Analytical Department
Attention!
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.