Analysis for September 12th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still consolidating; the market is forming the third structure of an ascending impulse. We think, today the price may reach level of 1.2990 and then form a correction towards level of 1.2920. Thus, the market stays inside this consolidation channel. After such structure is complete, we’ll estimate the potential of this consolidation. The pair may form an ascending correction with the target at level of 1.3388 (at least).
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues forming an ascending structure. We think, today the price may reach level of 1.6300 and then fall to return to level of 1.6100. After such pattern is finished, we’ll estimate the potential for a higher correction with the target at level of 1.6630.
USD CHF, “US Dollar vs Swiss Franc”
Franc is forming the first descending impulse with the target at level of 0.9300. After reaching it, the price may grow towards level of 0.9350 and then continue falling and forming a descending correction to reach level of 0.9077.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still moving inside an ascending channel; by now, the market has expanded a consolidation channel upwards. We think, today the price may fall towards level of 106.90 and then move upwards to reach level of 107.77. We should note, that the pair has reached its local target and may start a new correction towards level of 104.40 at any time.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar reached the target of its descending wave. We think, today the price may form another structure to return to level of 0.9300. Possibly, the market may extend this descending wave towards level of 0.9018. Later, in our opinion, the market may start a new correction, at least.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still growing, being influenced by the fundamental background, and consolidating at the top of the wave. We think, today the price may reach level of 37.77 and then move downwards to reach level of 37.20. Later, in our opinion, the market may consolidate and then form a descending correction towards level of 35.05.
XAU USD, “Gold vs US Dollar”
Gold is still under pressure and continues falling. The market hasn’t been able to create anything for a correction towards level of 1300. We think, today the price may continue moving inside the downtrend towards level of 1208.
RoboForex Analytical Department