Forex Technical Analysis 28.05.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

28.05.2013

Analysis for May 28th, 2013

EUR/USD

Euro defined the borders of its consolidation channel. We think, today the price may reach the upper border and then continue falling down towards the lower one to break it. The channel is expected to increase twofold. Later, in our opinion, the pair may continue falling down to break triangle’s lower border to reach the level of 1.2830, form a slight correction to return to the level of 1.2890, and then start a new descending movement towards the target at 1.2780.



GBP/USD

Pound is still forming a descending structure. We think, today the price may move upwards a little bit and then continue falling down. The main target is at the level of 1.4990.



USD/CHF

Franc continues forming an ascending structure. We think, today the price may reach the target at 0.9730, form a descending correction towards the level of 0.9660, and then start the third ascending structure with the target at 0.9800. Later, in our opinion, the market may form another correction towards the target at 0.9730 and then start the fifth ascending wave to reach the level of 0.9880.



USD/JPY

The USD/JPY currency pair started forming an ascending wave, which may be considered as a correction towards the previous descending movement. A predicted target is at the level of 103.15. Later, in our opinion, the price may form another descending wave to reach the level of 99.40.



AUD/USD

Australian Dollar is completing the central part of continuation pattern with the target at 0.9580. We think, today the price may form a correction to return to the level of 0.9710. Later, in our opinion, the pair may start a new descending wave to continue moving downwards.



GOLD

Gold continues moving inside a narrow consolidation channel. We think, today the price may fall down towards the channel’s lower border and then expand the channel by moving upwards to reach the level of 1440. Later, in our opinion, the instrument may form a correction towards the level of 1400 and then continue growing up to reach the target at 1455.



 
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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