Analysis for September 27th, 2013
Euro is forming a descending correction with the target at 1.3420; the market formed triangle
pattern near the level of 1.3500. We think, today the price may grow up towards the pattern’s upper border and the move downwards to break the pattern downwards. The first local target is at 1.3445.
Pound completed its five-wave ascending structure. We think, today the price may break the structure downwards and continue falling down to break its minimum, thus forming the third correctional structure. The predicted target is at 1.5830.
Franc continues moving inside its narrow consolidation channel; the market has already formed diamond
pattern. We think, today the price may leave the pattern upwards to reach the target at 0.9196.
The USD/JPY currency pair is moving right in the middle of its another structure. We think, today the price may break it downwards and reach the level of 98.00. Later, in our opinion, the pair may grow up to break the level of 99.40 and then continue moving upwards to reach the target at 100.80.
Australian Dollar continues moving near the minimum of its descending structure; the market is forming another structure to continue its descending movement. We think, today the price may reach the level of 0.9323 and then grow up towards the level of 0.9390. Later, in our opinion, the pair may start a new descending movement towards the target at 0.9250.
Gold is forming an ascending structure with the target at 1350. We think, today the price may reach the target and then start falling down. The instrument may test the minimum, form a consolidation channel near the level of 1290, and then continue moving downwards.
RoboForex Analytical Department