Forex Technical Analysis 07.06.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for June 7^th, 2013

EUR/USD

Euro continues forming an ascending wave. We think, today the price may form a descending correction towards the level of 1.3150. Later, in our opinion, the pair may start a new ascending structure to reach the level of 1.3400.

GBP/USD

Pound is still forming an ascending wave, the fifth one, with the target at 1.5790. We think, today the price may form a descending correction towards the level of 1.5420 and then start a new ascending structure to reach the main target.

USD/CHF

Franc continues forming a descending wave; the market completed its third structure with an extension. We think, today the price may return to the level of 0.9515 and then start forming another descending wave, the fifth one, towards the main target at 0.9190.

USD/JPY

The USD/JPY currency pair is still forming a descending wave; the market reached the target at 95.98. We think, today the price may start a correction (as the fourth wave) with the target at 99.50. Later, in our opinion, the pair may start forming the fifth descending wave. The main target is still at the level of 94.90.

AUD/USD

Australian Dollar completed its correction and continues forming a descending wave. We think, today the price may reach the level of 0.9390, fall down a little bit lower, and then start forming a pivot point for a new ascending correction.

GOLD

Gold broke triangle pattern upwards. We think, today the price may consolidate for a while and then continue growing up towards the target at 1440. Later, in our opinion, the instrument may form a descending correction to return to the level of 1400 and then start a new ascending movement towards the target at 1455.



 
RoboForex Analytical Department