Forex Technical Analysis 27.11.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)
27.11.2013
Analysis for November 27th, 2013
EUR/USD
Euro reached target of its ascending wave. We think, today price may start new correction towards 1.3440. We should note, that right now market is moving inside the fifth ascending wave with target at 1.4100; possible correction may be short, with continuation patterns. Alternative scenario implies that pair may reach level of 1.3500 in order to continue its ascending movement.
GBP/USD
Pound continues consolidating. We think, today price may continue growing up to break this consolidation channel upwards. Target of this growth is at 1.6350.
USD/CHF
Franc renewed minimum of the first descending wave once again. This may result in formation of consolidation structure at current levels, which may be considered as continuation pattern to continue descending trend. Alternative scenario implies that pair may start new correction to return to level of 0.9120 and then continue falling down.
USD/JPY
Yen completed descending impulse. We think, today price may start new ascending structure to reach new maximum and then form reversal pattern. Later, in our opinion, pair may start new descending movement towards 101.00.
AUD/USD
Australian Dollar renewed minimum of its consolidation structure. We think, today price may continue falling down towards 0.9060 and then form new ascending structure to reach 0.9200.
GOLD
Gold is still consolidating near 1243. We think, today price may fall down towards 1230 and then start new ascending movement to reach 1250.
RoboForex Analytical Department
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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.