Analysis for November 26th, 2012
The EUR/USD currency pair couldn’t form a descending impulse, and as a result we can see a consolidation channel to continue moving upwards. Today the pair may reach a new top a bit above the previous one, fall down a little, and then move upwards again. It’s very essential that the price should form a pivot point above the level of 1.2995.
The GBP/USD currency pair couldn’t form reversal impulses and continued moving upwards. Unlike the other currency pairs, Pound wasn’t able to form a continuation pattern. That’s why any reversal impulse in the future may be considered as a pivot point. Later the pair is expected to another descending wave.
The USD/CHF currency pair formed a consolidation channel near the level of 0.9360, but couldn’t start growing up. As a result, the price broke this channel downwards with the target at 0.9263. Later the pair is expected to return to the level of 0.9360 and form one more descending structure.
The USD/JPY currency pair is forming the first impulse, the fifth structure inside this impulse if to be more specific. Today the price is expected to reach the target at 81.90, return to the level of 82.35, and then start falling down again.
Australian Dollar broke the level of 1.0420 upwards. In this case we can expect the price to reach the target at 1.0500, return and test the level of 1.0420 from above, and then grow up to reach the target at the level of 1.0560.
Gold broke the level of 1736 upwards and reached a local target. After reaching new tops a little bit above the current ones, the instrument is expected to return to the level of 1736 and then start forming one more ascending structure towards the target at 1768.
RoboForex Analytical Department