Analysis for July 12th, 2013
Euro hasn’t completed its descending correction. We think, today the price may continue moving downwards with the target at 1.2980 and then start another ascending structure to reach the current maximum of this wave.
Pound hasn’t reached the target of this correction yet. We think, today the price may form another descending structure towards the level of 1.5040 and then start a new ascending movement to reach the target at 1.5260.
Franc hasn’t completed its correction towards the level of 0.9540. We think, today the price may reach this level and then start forming another descending structure to reach the target at the level of 0.9340.
The USD/JPY currency pair is moving near its correctional level of 99.35. We think, today the price may form a new descending wave towards the level of 97.15.
Australian Dollar completed the correction inside this ascending wave. We think, today the price may form an ascending structure to reach the level of 0.9350 and then continue falling down towards the target at 0.8900.
Gold reached its local target. We think, today the price may start a correction. In our opinion, the instrument may fall down to reach the level of 1250, form another ascending structure towards the level of 1320, and then continue moving downwards to reach the target at 1150.
RoboForex Analytical Department