Forex Technical Analysis 15.08.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for August 15^th, 2013

EUR/USD

Euro is forming an ascending structure. The main scenario implies that the price may grow up and reach the level of 1.3600. An alternative scenario suggests that the pair may continue this correction towards the level of 1.3120. If the price continues falling down, it may reach the level of 1.3330 and rebound from it downwards.

GBP/USD

Pound is still forming an ascending structure. We think, today the price may reach the target at 1.5600 and then start a more serious descending correction towards the level of 1.5300. Later, in our opinion, the pair may form the fifth ascending structure to reach the level of 1.5890.

USD/CHF

Franc completed a correctional structure. The main scenario implies that the price may continue falling down towards the level of 0.9000. An alternative scenario suggests that the pair may continue an ascending correction to reach the level of 0.9550.

USD/JPY

The USD/JPY currency pair reached its local target. We think, today the price may fall down towards the level of 97.30 and then complete this ascending wave by moving upwards and reaching the target at 98.70. Later, in our opinion, the pair may start a new descending movement towards the target at 95 and then expand this wave to beak the level of 93.

AUD/USD

Australian Dollar is forming an ascending structure towards the level of 0.9150. Later, in our opinion, the price may continue falling down to reach the target at 0.8800.

GOLD

Gold is still forming the fifth ascending structure; right now, the market is forming a consolidation channel in the middle of this ascending wave. We think, today the price may continue growing up to reach the target at 1360. Later, in our opinion, the instrument may start forming a new descending wave towards the level of 1000.



 
RoboForex Analytical Department