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Forex Technical Analysis 13.05.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Analysis for May 13th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected towards its descending impulse. We think, today the price may reach level of 1.1282 and then start forming another descending structure. If the price breaks its consolidation channel downwards, it may reach level of 1.0850 (at least); if upwards (an alternative scenario) – grow and continue forming the third wave.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still moving upwards; the target is at level of 1.5800. Possibly, on its way to the above-mentioned target the pair may form a correction towards level of 1.5500 and then continue growing to reach 1.5800. Later, in our opinion, the market may consolidate and form a reversal pattern.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still consolidating inside its descending channel. The target is at level of 0.9010. After reaching it, the market may return to level of 0.9360 and then continue falling to reach level of 0.8870.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating; the market is forming a descending structure towards level of 119.63. After that, the pair grow to break this consolidation channel upwards to reach level of 121.00. Later, in our opinion, the price may start forming a descending structure towards level of 117.40.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still consolidating. If the price breaks this consolidation channel downwards, the current correction may continue towards level of 0.7700; if upwards – reach level of 0.8098. This may be the completion of the first ascending wave. Later, in our opinion, the market may start a new correction to return to level of 0.7800.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still under pressure and continues falling. We think, today, the price may break level of 48.50, reach level of 46.00, and then test 48.90 from below. After that, the market may continue moving downwards with the target at level of 44.00.

XAU USD, “Gold vs US Dollar”

Gold is still consolidating; the market is forming a structure towards level of 1198.88. Later, in our opinion, the price may fall towards the lower border of this consolidation channel, break it downwards, and reach level of 1140.00. After that, the market may test level of 1175.00 from below and then start a new descending movement towards level of 1113.00.

RoboForex Analytical Department

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