Forex Technical Analysis 04.09.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)
04.09.2013
Analysis for September 4th, 2013
EUR/USD
Euro is still moving downwards. If the price breaks the level of 1.3200 and stays below it, the pair may continue falling down to reach the target at 1.3000. However, right now the market is inside an ascending channel. We think, today the price may form a trading range between the levels of 1.3215 and 1.3140. The main scenario is still the same – the pair is expected to form an ascending structure towards the target at 1.3600.
GBP/USD
Pound continues moving upwards. We think, today the price may form a continuation pattern to reach the level of 1.5678. Later, in our opinion, the pair may complete the third ascending wave by reaching the level of 1.5700 and then start forming a descending correction.
USD/CHF
Franc is extending its ascending structure. We think, today the price may reach the level of 0.9400 and then move downwards towards the level of 0.9250. Later, in our opinion, the pair may continue falling down to reach the target at 0.9110.
USD/JPY
The USD/JPY currency pair is moving near its maximum and forming a consolidation channel. We think, today the price may move downwards to reach the level of 98.50 and then upwards to reach the level of 100.00. Later, in our opinion, the pair may start a new descending movement towards the level of 97.50.
AUD/USD
Australian Dollar continues growing up towards the level of 0.9110. We think, today the price may reach the above-mentioned level and then start falling down towards the target at 0.9040. Later, in our opinion, the pair may start a new ascending movement to reach the level of 0.9150 and then form another descending structure towards the level of 0.8900.
GOLD
Gold reached its targets and formed a correction. We think, today the price may fall down towards the level of 1400 and then continue moving downwards to reach the target at 1440. An alternative scenario implies that the instrument may move downwards to reach the level of 1366 and only after that start a new ascending movement towards the target at 1455.
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.