Analysis for May 30th, 2013
After testing triangle
’s lower border, Euro is forming an ascending structure to test the upper one. We think, today the price may form a new descending structure to break the pattern’s lower border and then continue falling down towards the level of 1.2800.
Pound is trying to form another ascending structure with the target at 1.5185. Later, in our opinion, the pair may start moving downwards to reach the level of 1.4990.
Franc is forming a correction; the target is at the level of 0.9550. We think, today the price may form an ascending structure towards the level of 0.9740 and then start falling down again to reach the target at 0.9500.
The USD/JPY currency pair is consolidating. We think, today the price may continue falling down towards the target at 99.40 and then start a new ascending structure to reach the level of 101.30.
Australian Dollar is forming the right part of the continuation pattern. We think, today the price may continue moving upwards to reach the level of 0.9710, at least. Later, in our opinion, the pair may start falling down again to break the minimums and then continue moving towards the target at 0.8800.
Gold continues moving inside the third ascending wave; it has already broken the level of 1400. We think, today the price may reach a local target at 1440 and then start a descending correction to test the level of 1400 from above. Later, in our opinion, the instrument may form the fifth ascending wave with the target at 1455.
RoboForex Analytical Department