Forex Technical Analysis 01.05.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for May 1^st, 2013

EUR/USD

The EUR/USD currency pair continues forming an ascending wave; the price formed a consolidation channel and broke it upwards. We think, today the price may return to the level of 1.3120 and then start another ascending structure towards the target at 1.3195.

GBP/USD

The GBP/USD currency pair is still forming the third ascending wave with the target at 1.5615. We think, today the price may grow up to reach the level of 1.5565 and then start a descending correction to return to the level of 1.5525. Later, in our opinion, the pair may form a new ascending structure towards the main target and then start another correction towards the level of 1.5325.

USD/CHF

The USD/CHF currency pair continues forming a descending wave. We think, today the price may form the fifth wave with the target at 0.9195, return to the level of 0.9345, and then continue falling down.

USD/JPY

The USD/JPY currency pair is forming the third descending wave. We think, today the price may reach the level of 96.70. Later, in our opinion, the pair may return to the level of 97.55 to test it from below and then start a new descending movement to reach the target at 96.

AUD/USD

Australian Dollar completed its correction. We think, today the price may start a new descending structure with the target at 1.0085; the first part may reach the level of 1.0295. Later, in our opinion, the pair may grow up a little bit towards the level of 1.0350 and then form another descending structure to break the target at 1.0200.

GOLD

Gold continues moving inside the third ascending wave; the market broke the upper border of the consolidation channel. We think, today the price may continue growing up to reach the level of 1490 and then start a correction to return to the level of 1415. Later, in our opinion, the instrument may start growing up again to reach the level of 1505.



 
RoboForex Analytical Department