Forex Technical Analysis 09.09.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for September 9^th, 2013

EUR/USD

Euro is forming an ascending structure with the target at 1.3250 or maybe even higher, at 1.3320. After reaching this target, the price may form another descending structure to reach a new minimum of this descending wave at the level of 1.3080. This descending movement may be considered as a correction. Later, in our opinion, the pair may start moving upwards again.

GBP/USD

Pound is still forming an ascending structure towards the target at 1.5690. By reaching this target, the market will complete the first wave inside the fifth one. Later, in our opinion, the price may form a correction to return to the level of 1.5560 and then start another ascending structure towards the target at 1.5800.

USD/CHF

Franc is forming a descending correction towards the level of 0.9300. After reaching this target, the market may move upwards to reach a new maximum at 0.9470 and then start forming a reversal pattern to continue the descending trend.

USD/JPY

The USD/JPY currency pair is forming a descending correction towards the level of 97.80. We think, today the price may continue falling down to reach the target at 98.00. Later, in our opinion, the pair may form another ascending structure towards the level of 99.60 and then continue moving downwards.

AUD/USD

Australian Dollar is consolidating near its maximums. We think, today the price may start forming another descending wave with the main target at 0.8800. The first target is at 0.9000. After reaching this target, the pair may return to the level of 0.9100 and then continue falling down towards the main target.

GOLD

Gold is forming the fifth descending structure with the target at 1345, which may be the last part of this correction. Later, in our opinion, the instrument may form another ascending structure to reach the level of 1455.



 
RoboForex Analytical Department