Forex Technical Analysis 05.06.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

05.06.2013

Analysis for June 5th, 2013

EUR/USD

Euro has been able to form only one ascending structure so far, and right now is being corrected towards it (this movement may be considered as a consolidation at the top). We think, today the price may leave this consolidation downwards and continue falling down towards the target at 1.2950. Later, in our opinion, the air may continue moving downwards to reach the next target at 1.2750.



GBP/USD

Pound is still moving near its maximums; this movement may be considered as a consolidation at the top. We think, today the price may start a new descending movement with the first target at 1.5170. Later, in our opinion, the pair may form a slight correction and then continue falling down.



USD/CHF

Franc has been able to form only one ascending structure and correct it so far. We think, today the price may continue moving upwards and expand the consolidation channel upwards. The first target is at 0.9610. Later, in our opinion, the pair ay move downwards to reach a new minimum. However, an alternative scenario suggests that the pair may continue forming an ascending wave to reach the target at 0.9880.



USD/JPY

The USD/JPY currency pair formed the first ascending impulse and corrected it. We think, today the price may continue forming an ascending wave with the nest target at 101.50. An alternative scenario implies that the market may first fall down towards the level of 98.60 and only after that start a new ascending wave to return to the level of 101.50



AUD/USD

Australian Dollar continues forming a descending structure; the market formed a continuation pattern for a descending movement. We think, today the price may continue falling down to reach the target at the level of 0.9500. Later, in our opinion, the pair may start a slight correction and then continue moving downwards to reach the target at 0.9390.



GOLD

Gold is still moving inside a narrow consolidation channel and is expected to make it even narrower (it will look like triangle pattern). We think, today the price may leave the pattern upwards and reach the level of 1440. Later, in our opinion, the instrument may fall down towards the level of 1400 and then continue moving upwards 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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