Forex Technical Analysis 01.09.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
01.09.2014
Analysis for September 1st, 2014
EUR USD, “Euro vs US Dollar”
Euro continues falling. We think, today the price may reach level of 1.3150 and then expand its consolidation channel towards level of 1.3080. Later, in our opinion, the market may continue forming this consolidation channel between the above-mentioned levels and then form a reversal pattern.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still forming an ascending structure towards level of 1.6660. After reaching it, the pair may fall towards level of 1.6460. Later, in our opinion, the market may continue consolidating between the above-mentioned levels and then form a reversal pattern.
USD CHF, “US Dollar vs Swiss Franc”
Franc is under pressure and continues moving upwards. We think, today the price may rebound from level of 0.9194 and fall towards level of 0.9120. Later, in our opinion, the market may continue consolidating between the above-mentioned levels and then form a reversal pattern.
USD JPY, “US Dollar vs Japanese Yen”
Yen is also under pressure and continues moving upwards. We think, today the price may form another descending structure to reach level of 103.45. Later, in our opinion, the market may start a new correction towards level of 103.90 and then form another descending structure inside the downtrend.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is under pressure and continues moving upwards. If the price breaks level of 0.9370 and forms a continuation pattern, the market may continue growing towards level of 0.9510. Alternative scenario implies that the pair may fall towards level of 0.9240.
USD RUB, “US Dollar vs Russian Ruble”
Ruble completed another ascending structure. We think, today the price may start a correction towards level of 36.21 and then return to level of 36.70. The market is expected to consolidate and then form a reversal structure for a deeper correction.
XAU USD, “Gold vs US Dollar”
Gold broke its ascending channel. We think, today the price may form another descending wave with the target at level of 1260. Later, in our opinion, the market may form a correction towards level of 1300.
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.