Analysis for September 3rd, 2013
Euro continues moving near its minimums; the market is forming a consolidation channel. According to the main scenario, the price may continue growing towards the target at 1.3600. An alternative scenario implies that the pair may fall down to reach the level of 1.3000.
Pound is still forming an ascending structure. We think, today the price may continue moving upwards towards the target at 1.5678. Later, in our opinion, the pair may form a slight correction and then start moving to reach the level of 1.5890.
Franc is moving towards the level of 0.9400 to test it from below one more time. The market hasn’t formed any proper continuation pattern. We think, today the price may continue falling down towards the target at 0.9110.
The USD/JPY currency pair is extending an ascending structure. We think, today the price may reach the level of 100.00 and then continue falling down.
Australian Dollar is widening its consolidation channel. We think, today the price may reach the level of 0.9066 and then fall down towards the channel’s lower border. According to the main scenario, the pair is expected to continue moving downwards to reach the main target at 0.8800.
Gold is not traded because of holidays until September 4th
. However, the main scenario implies that the instrument may continue moving downwards.
RoboForex Analytical Department