Forex Technical Analysis 11.12.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY,

EUR/USDEuro continues forming consolidation channel near its top. We think, today price may form another ascending impulse to renew current top and reach level of 1.3800. Later, in our opinion, pair may form new descending impulse and form reversal pattern to start new correction towards 1.3555 (at least).



GBP/USDPound continues forming consolidation channel near its maximums; this ascending structure may yet continue. Descending impulse isn’t strong enough to continue this correction. We think, today price may reach new maximum at 1.6470 and then start new descending impulses to form reversal pattern for new correction. Target is at 1.6160.



USD/CHFFranc continues consolidating near its minimums. We think, today price may reach new minimum at 0.8820 and then start new ascending impulses to form reversal pattern for new correction towards 0.9070. Later, in our opinion, pair ay continue moving inside descending trend.



USD/JPYYen broke its consolidation channel downwards and may start forming new descending wave; however, first descending impulses aren’t strong enough to continue down trend. We think, today price may form another ascending impulse to reach 103.47 and then start new descending impulses and reversal pattern. Pair is going to form five-wave structure with target at 93.50.



AUD/USDAustralian Dollar completed its ascending movement. We think, today price may form five-wave correctional structure towards 0.9060, which may be considered as head & shoulders pattern. Later, in our opinion, pair may continue moving upwards to break level of 0.9168. Target is at 0.9344.



GOLDGold is forming ascending correction towards target at 1273. We think, today price may fall down to 1242 and then complete this correction by moving upwards to reach above-mentioned target. Later, in our opinion, instrument may start falling down towards 1195.




RoboForex Analytical Department