Analysis for November 29th, 2012
The USD/CHF currency pair expanded its trading range downwards. We can see that the price is forming a strong ascending impulse; the pair is expected to form a narrow consolidation channel at the top of this impulse and break it upwards to reach the level of 1.3030. Only after that, the price may start forming a pivot point for a reverse. The next target of the wave is at 1.2800.
The USD/CHF currency pair expanded a descending wave a little bit and then changed the direction very quickly. Today the price is expected to form a narrow consolidation channel, break it upwards, and continue growing up towards the target at 1.6060.
The USD/CHF currency pair expanded its trading range upwards. We can see that the price is forming a descending impulse. Today we can expect a correction of this impulse inside a narrow consolidation channel. Later the pair fall down to reach the target at 0.9233 and start forming a reversal structure with the target at 0.9400.
The USD/JPY currency pair continues moving inside “divergent triangle” pattern. The target of the pattern is at 81.25. Today the price is expected to form another structure towards the level of 82.33, and the one more towards the level of 81.45.
Australian Dollar continues forming a divergent pattern, at the moment the pair is forming an ascending structure inside the pattern. The target is at 1.0510. The next descending target will be in the area of 1.0420.
Gold couldn’t stay at the level of 1736 and fell down towards the lower border of its trading range in the area of 1707. Today the instrument is expected to move upward, test the level of 1736 from below, and then start a correction towards the level of 1720. After that the price may start forming a new ascending impulse to reach and break t target at 1736.
RoboForex Analytical Department