Analysis for February 5th, 2013
The EUR/USD currency pair continues forming a descending impulse; the market hasn’t been able to start a correction so far. The target of the fall is at 1.3330, the price may reach it without any corrections.
The GBP/USD currency pair reached the level of 1.5770. Today I think the price may reach the target at 1.5670, return to the level of 1.5770, and then start a new descending movement towards the target at 1.5660.
The USD/CHF currency pair corrected the first ascending impulse. I think today the price may form the second impulse and break the level of 0.9100. Later, in my opinion, the pair may consolidate for a while at these levels, continue growing up towards 0.9175, and even expand this impulse up to the next resistance level at 0.9226.
The USD/JPY currency pair is still moving near the level of 92.30. Today I think the price may leave this consolidation channel upwards and reach the level of 94. Later, in my opinion, the pair may start a new consolidation and continue growing up.
Australian Dollar expanded an ascending wave a little bit. The main target is at 1.0340. I think today the pair may consolidate for a while near the level of 1.0400 and then continue falling down towards the main target.
Gold continues moving inside triangle
pattern. Today I think the price may reach the pattern’s upper border and then fall down towards the lower one. Later, in my opinion, the instrument may leave the pattern downwards to reach the target at 1650, and only after that start a new ascending movement towards the target at 1707.
RoboForex Analytical Department