Forex Technical Analysis 24.10.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)
24.10.2013
Analysis for October 24th, 2013
EUR/USD
Euro is still forming an ascending structure. We think, today the price may continue moving upwards to reach the level of 1.3800. Later, in our opinion, the pair may fall down a little and then start another ascending impulse to reach a new maximum.
GBP/USD
Pound is still forming a continuation pattern. We think, today the price may grow up to reach the level of 1.6300, test the pattern from above, and then move upwards again to reach a new maximum.
USD/CHF
Franc is forming a descending structure towards the level of 0.8900. We think, today the price may reach the level of 0.8880, form a correction towards the level of 0.9025, and then reach a new minimum again. Only after that, the pair may form a reversal pattern for a new and higher correction.
USD/JPY
The USD/JPY currency pair is forming a consolidation pattern. We think, today the price may break the pattern downwards to reach the level of 96.30, return to the level of 97.30 to test it from below, and the continue falling down towards the target at 96.00.
AUD/USD
Australian Dollar is still moving upwards. We think, today the price may reach a new maximum at the level of 0.9780. Later, in our opinion, the pair may form a reversal pattern for a new correction with the target at 0.9230.
GOLD
Gold formed the first descending impulse. We think, today the price may continue moving downwards to reach the target at 1308 and then form a correction with the target at the level of 1326. Later, in our opinion, the instrument may form another descending wave towards the level of 1195.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.