Forex Technical Analysis 06.08.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

06.08.2013

Analysis for August 6th, 2013

EUR/USD

Euro is still moving inside its consolidation channel. We think, today the price may continue this correction towards the level of 1.3160 and then start a new ascending movement to reach the target at 1.3420. An alternative scenario implies that the pair may try to reach the level of 1.3350 first and then start a correction to return to the level of 1.3160 again.



GBP/USD

Pound continues moving upwards. We think, today the price may form one more correctional structure towards the level of 1.5040 and then start a new ascending wave to test the level of 1.5430.



USD/CHF

Franc is still consolidating below the level of 0.9400. We think, today the price may reach this level to test it from below and then start forming a new descending structure to reach new minimums and the target at the level of 0.9050.



USD/JPY

The USD/JPY currency pair completed another descending wave. We think, today the price may return to the level of 99 and then continue moving downwards to reach the target at 95, which is located near the lower border of triangle pattern form the daily chart.



AUD/USD

Australian Dollar is moving back to the level of 0.900. We think, today the price may test this level from below and then continue falling down towards the target at 0.8700.



GOLD

Gold is still being corrected; the target of this correction is at the level of 1280. We think, today the price may form a reversal pattern for a new ascending movement with the target at 1370. After reaching this target, the instrument may start falling down again to reach the next target at 1000.



 
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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