Analysis for April 18th, 2013
The EUR/USD currency pair started falling down very fast; the market is forming the first correctional structure. We think, today the price may return to the level of 1.3100 and then start another descending wave towards the target at 1.2970.
The GBP/USD currency pair is still being corrected. We think, today the price may form three waves inside this correction. Later, in our opinion, the pair may return to the level of 1.5290 (at least) and then start the fifth wave of this correction with the target at 1.5185.
The USD/CHF currency pair started forming an ascending structure, a strong ascending impulse. We think, today the price may fall down towards the level of 0.9180 and then form another ascending wave to reach the target at 0.9370.
The USD/JPY currency pair continues forming an ascending structure; it may be completed at the level of 98.90. We think, today the price may start falling down towards an ascending channel. Later, in our opinion, the pair may consolidate for a while, break the channel, and continue moving downwards to reach a predicted target at 93.70.
Australian Dollar is still forming a descending structure with the target at 1.0258. We think, today the price may complete the last structure of this descending movement, the fifth one, and then start a correction towards the target at 1.0420. Later, in our opinion, the pair may start forming a new descending wave to reach the level of 1.0200.
Gold completed its correction at the level of 1350. We think, today the price may start a new ascending structure with the target at 1450, which may be considered as the first wave. Later, in our opinion, the instrument may start a new correction to return to the level of 1400 and then form another ascending wave with the target at 1590.
RoboForex Analytical Department