Forex Technical Analysis 22.08.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)
22.08.2013
Analysis for August 22nd, 2013
EUR/USD
Euro fell down and reached its target at 1.3343. The main scenario implies that the pair may return to the level of 1.3393 and even reach a new maximum. After reaching the level of 1.3475, the price may start a deeper correction towards the target at 1.3200. An alternative scenario suggests that the market may start forming a descending correction at once.
GBP/USD
Pound competed the third wave. The market is moving downwards and this movement may result in a deeper correction. We think, today the price may return to the level of 1.5675 and then continue falling down towards the target at 1.5360.
USD/CHF
Franc returned to the level of 0.9250. We think, today the price may form another descending structure to reach the target at 0.9110 and then start a new correction towards the level of 0.9400.
USD/JPY
The USD/JPY currency pair completed its correction and reached the target at 98.00. We think, today the price may start forming a new descending structure to reach the target at 94.00.
AUD/USD
Australian Dollar is still forming a descending wave; the market formed continuation pattern and broke it downwards. We think, today the price may continue moving towards the target at 0.8800.
GOLD
Gold completed the first descending impulse and corrected it. We think, today the price may start forming a new descending structure towards the target at 1275.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.