Forex Technical Analysis 08.09.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
08.09.2014
Analysis for September 8th, 2014
EUR USD, “Euro vs US Dollar”
Euro is consolidating. We should note that the market needs to form a reversal structure for a new correction. While the price is moving inside a descending channel, it may try to reach a new low and expanding this consolidation downwards. Later, in our opinion, the market may grow to return to level of 1.3130.
GBP USD, “Great Britain Pound vs US Dollar”
The market was opened with a gap down. We think, today the price may form a consolidation channel and reach a new minimum. Later, in our opinion, the market may continue growing to return to level of 1.6660.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still moving upwards. We think, today the price may reach level of 0.9328 and then fall to break the minimum of the first descending structure. The first target is at level of 0.9200.
USD JPY, “US Dollar vs Japanese Yen”
Yen is forming a correction towards its first descending impulse; the target is at level of 103.70, at least. We think, today the price may grow towards level of 105.26. Later, in our opinion, the market may fall to reach to level of 104.15.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating and forming an ascending continuation pattern. We think, today the price may grow towards level of 0.9400. Later, in our opinion, the market may fall towards level of 0.9365 and then continue growing to reach level of 0.9475.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still consolidating. We think, today the price may fall towards level of 36.61. Later, in our opinion, the market may move upwards to reach level of 37.12 and then form a descending correction towards level of 35.05.
XAU USD, “Gold vs US Dollar”
Gold continues moving forming an ascending correction. We think, today the price may reach level of 1275 and then consolidate to break a descending channel. Later, in our opinion, the market may start a new ascending movement towards level of 1283. An alternative scenario implies that the price may rebound from the descending channel’s border and continue moving inside the downtrend.
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.