Forex Technical Analysis 28.11.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

November 28, 2013


Euro is consolidating near its maximums. We think, today price may form correction towards 1.3440. We should note, that market is moving inside the fifth ascending wave and current tendency is ascending, that’s why alternative scenario implies that pair may continue growing up to reach 1.3700 without any corrections.



Pound continues moving upwards. We think, today price may reach 1.6350, consolidate for a while, and then start new correction towards 1.6110 (at least). If pair forms pivot point at the top, possible correction may be deeper.



Franc is still forming continuation pattern to continue moving downwards; it has already completed central part near 0.9075. We think, today price may fall down towards 0.9020, return to 0.9075, and then continue moving downwards to reach 0.8900.



Yen reached new maximum and continued forming ascending structure with target at 102.90. We think, today price may grow up to reach 102.50, consolidate for a while, and then break this consolidation channel upwards to reach above-mentioned target. Later, in our opinion, pair may form pivot point for new descending trend.



Australian Dollar reached new minimum of its consolidation structure. We think, today price may continue moving downwards and reach 0.8060. Later, in our opinion, pair may form reversal structure for new ascending movement with target at 0.9250.



Gold is still consolidating near 1243. We think, today price may fall down towards 1230 and then form another ascending structure to reach 1240. Later, in our opinion, instrument may start new descending movement towards main target at 1195 and then grow up again to reach upper border of triangle pattern from daily chart.

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