Forex Technical Analysis 21.08.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

21.08.2013

Analysis for August 21st, 2013

EUR/USD

Euro reached its target and left triangle pattern. We think, today the price may fall down towards the pattern’s center and then start forming another ascending structure to reach the target at 1.3477. Later, in our opinion, the pair may start a more serious correction to reach the level of 1.3200.



GBP/USD

Pound reached a new maximum again. We think, today the price may move downwards to reach the level of 1.5544. Later, in our opinion, the pair may test the level of 1.5606 from below and then start a deeper correction towards the level of 1.5360.



USD/CHF

Franc reached its target and left triangle pattern. We think, today the price may return to the pattern’s center and move downwards to reach a new minimum. Later, in our opinion, the pair may start a correction to return to the level of 0.9400.



USD/JPY

The USD/JPY currency pair reached the minimum of the previous descending impulse and may continue falling down. We think, today the price may start a correction to return to the level of 98.00, move downwards to reach the target at 96.40, and then start a new correction. Later, in our opinion, the pair may continue falling down towards the target at 94.00.



AUD/USD

Australian Dollar reached the target and a new minimum of its descending structure, which means that it may continue falling down. We think, today the price may form a consolidation channel and then leave it upwards to start a new correction. The price is expected to return to the level of 0.9170 and then start a new descending structure towards the target at 0.8800.



GOLD

Gold completed the first descending structure and its correction. We think, today the price may form a new descending structure towards the level of 1326. Later, in our opinion, the instrument may form a correction to reach the level of 1350 and then start moving towards the target at 1275.



 
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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