Analysis for March 26th, 2013
The EUR/US currency pair renewed its minimums and may continue falling down towards the level of 1.2700. We think today the price may consolidate inside a narrow range near the level of 1.2860. Later, in our opinion, the pair may form a continuation pattern and continue moving downwards.
The GBP/USD currency pair completed a correction towards the level of 1.5160. We think today the price may start a new ascending structure to each a local target at 1.5350. Later, in our opinion, the pair may form another correction towards the level of 1.5190 and then start growing up to reach the target at 1.5540.
The USD/CHF currency pair continues forming an ascending structure. We think today the price may fall down a little bit and then move towards the main target of this wave at the level of 0.95420. Later, in our opinion, the pair may form some kind of reversal pattern to continue falling down.
The USD/JPY currency pair couldn’t start forming another ascending structure; the price consolidated near its minimums inside triangle
pattern, and then broke it downwards. We think today the pair may continue falling down and reach the level of 93.20. Later in our opinion, the pair may form a correction towards the level of 95 and then start a new descending structure to reach the target at 92.65.
Australian Dollar is still moving near its maximums. We think today the pair may move downwards to reach the level of 1.0430 and then grow up towards the target at 1.0484. Later, in our opinion, the price may form a reversal pattern for a new descending movement to reach new minimums.
Gold couldn’t stay inside its consolidation channel and broke it downwards. We think today the instrument may move downwards to reach the level of 1586 and then start a new ascending movement towards the target at 1646. After reaching this level the price may start a new descending wave with the target at 1525.
RoboForex Analytical Department