Forex Technical Analysis 02.09.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for September 2^nd, 2013

EUR/USD

Euro completed a descending structure. We think, today the price may start a new ascending wave with the first target at 1.3360. Later, in our opinion, the pair may form a correction towards the level of 1.3270 and then start another ascending wave to break the level of 1.3500.

GBP/USD

Pound started forming a new ascending structure. We think, today the price may reach the level of 1.5678 and then fall down towards the level of 1.5550. Later, in our opinion, the pair may start forming another ascending structure to reach the target at 1.5800.

USD/CHF

Franc completed its ascending movement. We think, today the price may start falling down towards the level of 0.9220 and then form a correction to reach the level of 0.9280. Later, in our opinion, the may start a new descending structure towards the target at 0.9110.

USD/JPY

The USD/JPY currency pair completed its correction and returned to the level of 98.60. We think, today the price may form another descending wave towards the target at 96.70, consolidate there for a while, and then continue falling down. Later, in our opinion, the pair may break the minimum of this structure and then continue moving downwards to reach the level of 95.00.

AUD/USD

Australian Dollar is still consolidating near its minimums. We think, today the price may continue falling down towards the level of 0.8800.

GOLD

Gold continues moving downwards with the target at 1384. After reaching this target, the instrument may start a correction towards the level of 1409. Later, in our opinion, the price may continue moving downwards to reach the target at 1280. An alternative scenario implies that the instrument may grow up to reach the level of 1450 and only after that start a fast descending movement.



 
RoboForex Analytical Department