Forex Technical Analysis 23.10.2012 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)
23.10.2012
Analysis for October 23rd, 2012
EUR/USD
The EUR/USD currency pair is moving inside a narrow 40 pips trading range. Today the price is expected to continue falling down, break the level of 1.3040 from above, and reach the first target at 1.2995. Later the pair may return to test the level of 1.3040 from below and then continue moving downwards to reach the target at 1.2980.
GBP/USD
The GBP/USD currency pair continues consolidating, the price is forming “triangle” pattern. Today the pair is expected to leave the pattern downwards and continue falling down towards the target at 1.5930. After that we can expect the pair to break the level of 1.5990 from below and continue moving downwards to reach the target at 1.5920.
USD/CHF
The USD/CHF currency pair continues consolidating inside a narrow 30 pips trading range. Today the price is expected to break this range upwards and reach the level of 0.9315. Later the pair may return to test this level from above and then continue moving upwards to reach the target at 0.9325.
USD/JPY
The USD/JPY currency pair broke a triangle consolidation upwards and almost reached the first target at 80. Today the price is expected to continue growing up towards the level of 80.15 and start a new consolidation between 80.15 - 79.90. Later the pair may continue growing up towards the next target at 80.50.
AUD/USD
Australian Dollar continues consolidating inside a narrow trading range. The pattern, which is being formed, looks much alike a continuation one. The target is at 1.0225. Later the price is expected to return to test the level of 1.0315 from below and continue falling down towards the target at 0.9920.
GOLD
Gold continues moving inside a narrow consolidation channel. Today the price may reach the lower border of the channel in the area of 1712 and then return to the level of 1732. We can expect the instrument to leave the channel downwards and reach the level of 1670.
RoboForex Analytical Department
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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.