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Forex Technical Analysis 18.01.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

18.01.2013

Analysis for January 18th, 2013

EUR/USD

The EUR/USD currency pair continues forming another ascending structure. I think today the price may form a consolidation channel to break the level of 1.3400. The target of this wave is at 1.3500. Later, in my opinion, the pair may start forming a reversal pattern for a new correction towards the level of 1.3080.



GBP/USD

The GBP/USD currency pair hasn’t been able to form a pivot point yet. Today, in my opinion, the price may fall down and reach new minimums. I should note that this descending wave became weaker. Later, I think, the pair may start making a reverse upwards to reach the target at 1.6400.



USD/CHF

The USD/CHF currency pair is still consolidating near the maximums. I think the price may grow up a little bit towards the level of 0.9280 and then move downwards to reach the target at 0.9280.



USD/JPY

The USD/JPY currency pair formed another ascending structure and reached the target at 90. Today, in my opinion, the price may consolidate for a while near the level of 90 and then start forming another continuation pattern in order to continue moving upwards. The next target is at 92.50.



AUD/USD

Australian Dollar started forming a new ascending structure. I think today the pair may complete a correction of this first impulse. Later, in my opinion, after breaking a consolidation channel, the price may form another ascending structure with the target at 1.0650.



GOLD

Gold reached a local target and today may start a correction. I think the instrument may fall down reach the level of 1670, at least. After that the price may start forming a new ascending structure towards the target at 1707.



 
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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 LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.