Forex Technical Analysis 11.11.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

November 11, 2013

EUR/USD

Euro continues falling down; pair is expected to extend and reach 1.3265. Previous descending movement from 1.3544 may be considered as five-wave structure. We think, today the price may consolidate inside this triangle and then continue moving downwards to reach main target of this wave.

GBP/USD

Pound is moving inside descending wave with target at 1.5900. We think, today the price may form consolidation channel near current levels and then continue falling down towards main target of the fifth wave.

USD/CHF

Franc is still moving upwards; however, this is wave is becoming weaker. The pair formed impulse to leavetriangle pattern, and structure of impulse implies that it may continue growing up to reach 0.9256. We think, today the price may consolidate near 0.9200 and then make another ascending movement towards 0.9256. Later, in our opinion, the pair may form reversal structure to continue down-trend.

USD/JPY

Yen is still consolidating near 99.00. We think, today the price may continue falling down to reach 96.00 Alternative scenario implies that the market may grow up towards 99.80 and reach upper border of triangle from daily chart. Later, in our opinion, the pair may rebound from this border, start falling down fast to break lower border, and continue down-trend.

AUD/USD

Australian Dollar is trading inside descending structure with target at 0.9210. We think, today the price may reach local target of this descending movement at 0.9295 and then return to 0.9480 to test it from below. Later, in our opinion, the pair may continue falling down towards main target at 0.9210.

GOLD

Gold is moving downwards towards 1271. We think, today the price may reach local target at 1274, return to 1316 to test it from below, and then continue falling down towards main target at 1271. This whole movement is considered to be the first wave inside the fifth one.

RoboForex Analytical Department

Publication source
RoboForex information  RoboForex reviews

January 20, 2017
The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...
January 20, 2017
A huge disappointment in the UK data
UK retail sales fell most since 2012. We see he fastest pace of decline in almost five years in December. It is due to sales of... pretty much everything from household goods to clothing and food...
January 20, 2017
Trump takes office today. Markets await inauguration speech
Investors await Trump's inauguration and speech due later today as he takes office as the 45th President of the United States. The U.S. dollar was seen giving up some of the gains yesterday with some volatility coming off the EURUSD on the back of the ECB meeting...

Tickmill Rating
OctaFX Rating
Orbex Rating
FOREX.com Rating
 FXTM Rating
XM Rating

Empire Option Rating
Binary.com Rating
OptionTrade Rating
TopOption Rating
Porter Finance Rating
24option Rating