Forex Technical Analysis 23.09.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for September 23^rd, 2013

EUR/USD

Euro continues moving inside a narrow consolidation channel near its top. We think, today the price may form a descending structure for a correction. After breaking an ascending channel, the pair may continue this correction towards the target at 1.3417 (at least).

GBP/USD

Pound completed the first descending impulse. We think, today the price may return to the level of 1.6077, then continue falling down, and form the second impulse to break an ascending channel. The target of the correction is at the level of 1.5800.

USD/CHF

Franc continues moving inside a consolidation channel near its minimums. We think, today the price may form a new ascending structure to break the level of 0.9130, reach the target at .9170, and then return to the level of 0.9130 again. Later, in our opinion, the pair may form another ascending impulse to break a descending channel and start a new correction. The target of the correction is at the level of 0.9270.

USD/JPY

The USD/JPY currency pair broke its consolidation channel downwards. We think, today the price may fall down to the level of 98.60 and then form a new ascending structure to reach the target at 100.30. Later, in our opinion, the pair may move downwards to reach the level of 99.50.

AUD/USD

Australian Dollar is forming a descending structure to test the level of 0.9300 from above. We think, today the price may form an ascending structure to reach the target at 0.9480 and then fall down towards the above-mentioned level. Later, in our opinion, the pair may continue moving upwards to reach the target at 0.9700.

GOLD

Gold is still moving downwards. We think, today the price may reach the level of 1304 and then start a new ascending structure towards the target at 1390. Later, in our opinion, the instrument may start forming another descending wave.



 
RoboForex Analytical Department