Forex Technical Analysis 08.08.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for August 8^th, 2013

EUR/USD

Euro broke the level of 1.3285. We think, today the price may reach the target at 1.3380, form a correction to return to the level of 1,3285, and then continue growing up towards the level of 1.3420.

GBP/USD

Pound is still forming an ascending structure. We think, today the price may reach the target at 1.5330 and then start a correction towards the level of 1.5400 to test it from above. Later, in our opinion, the pair may start a new ascending movement to reach a local target at 1.5600.

USD/CHF

Franc continues moving downwards. We think, today the price may reach the target at 0.9150, return to the level of 0.9250, and then continue falling down towards the target at 0.9050.

USD/JPY

The USD/JPY currency pair is still forming a descending wave. We think, today the price may fall down to reach the target at 95.00 and then start a correction to return to the level of 97.00. Later, in our opinion, the pair may continue moving downwards to break the level of 95.00 and reach the target at 93.00.

AUD/USD

Australian Dollar is being corrected. We think, today the price may reach the target at 0.9086 and then fall down to return to the level of 0.9000. Later, in our opinion, the pair may form another ascending structure to reach the target at 0.9155 and then continue falling down towards the level of 0.8820.

GOLD

Gold started forming a new ascending structure with the target at the level of 1300. After reaching this level, the price may fall down to the level of 1285 and then continue moving upwards. If the instrument breaks the top of the first wave, the price will continue growing up to break the upper border of the descending channel, start forming the fifth ascending wave towards the target at 1360, and thus, complete this ascending correction.



 
RoboForex Analytical Department