Forex Technical Analysis 10.04.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

10.04.2013

Analysis for April 10th, 2013

EUR/USD

The EUR/USD currency pair is still forming an ascending wave. We think today the price may complete another structure and start a correction to return to the level of 1.2880. Later, in our opinion, the pair may form a new ascending structure to reach the target at 1.3130. However, an alternative scenario implies that the pair may expand this wave up to the level of 1.3130 and then start a more serious correction towards the target at 1.2830. Later, in our opinion, the price may form another ascending structure to reach the maximum of this wave.



GBP/USD

The GBP/USD currency pair continues forming the third ascending wave with the target at 1.550. While forming this wave, the marker was able to form a correction towards the level of 1.5240. We think the price may form one more descending structure to reach the level of 1.5230. If the pair continues falling down, even lower than 1.5160, this movement should be considered as a correction. Later, in our opinion, the price may start a new ascending movement.



USD/CHF

The USD/CHF currency pair is still consolidating near its minimums; the market is forming the third descending wave with the target at 0.9200. If the pair returns to the levels of 0.9370 and 0.9400, this movement should be considered as a correction. Later, in our opinion, the price may continue falling down.



USD/JPY

The USD/JPY currency pair completed the first impulse and corrected it. We think today the price may continue falling down towards the next target, which is at the level of 97.60. After a correction towards the level of 98.50, the pair may form another descending structure to reach the target at 97.30. Later, in our opinion, the market may start forming a final ascending wave towards the target at 99.90.



AUD/USD

Australian Dollar is still forming an ascending wave and may complete it quite soon. We think today the price may form some kind of a reversal pattern and start forming a new descending wave. The nest target is at the level of 1.0120.



GOLD

Gold continues forming an ascending structure. We think today the price may reach the level of 1590 and then start a correction to return to the level of 1570. Later, in our opinion, the instrument may form another ascending structure to reach the target at 1600 and then start a new descending correction towards the level of 1560.



 
RoboForex Analytical Department

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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