Analysis for March 5th, 2013
The EUR/USD currency pair continues forming the second ascending impulse with the target at 1.3100. I think today the price may start a correction towards the level of 1.3035 and then form another ascending structure to renew the current maximum.
The GBP/USD currency pair finished the second ascending impulse. I think today the price may correct it towards the level of 1.5070 and then start a new one to reach the target at 1.5170. After completing this correction, the pair may start another ascending wave with the target at 1.5750.
The USD/CHF currency pair continues forming the descending correction. I think today the price may fall down to reach the level of 0.9370 and then start a new ascending structure to renew its maximum. Later, in my opinion, the pair may start a new descending wave.
The USD/JPY currency pair is forming a correction inside the ascending wave. I think today the price may finish its descending movement at the level of 92.85, break the descending channel, and then start forming a new ascending structure to reach the level of 92.85. Later, in my opinion, the pair may start a correction towards the level of 93, form a new ascending structure to reach the target at 95, and then consolidate for a while.
Australian Dollar returned to the level of 1.0230 and may continue moving towards the target at 1.0265. After that the price may fall down to the level of 1.0190 and then continue moving downwards to reach the main target at 1.0020.
Gold continues moving inside a consolidation channel near its minimums. I think today the instrument may break the channel’s upper border and reach the target at 1608. Later, in my opinion, the price may fall down a little bit and start a new consolidation to continue growing up. The next target is at 1645.
RoboForex Analytical Department