Forex Technical Analysis 04.09.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

04.09.2014

Analysis for September 4th, 2014

EUR USD, “Euro vs US Dollar”

Euro is forming an ascending impulse. We think, today the price may reach level of 1.3170 and then fall towards level of 1.3135. After this pattern is complete, we’ll estimate if such structure may continue moving upwards. An alternative scenario implies that the pair may form another structure to reach a new low.




GBP USD, “Great Britain Pound vs US Dollar”

Pound reached a new low again and right now is trying to form a correctional impulse towards level of 1.6535. Later, in our opinion, the market may form another descending structure to reach a new low, and then start consolidating and form a reversal pattern.




USD CHF, “US Dollar vs Swiss Franc”

Franc is moving downwards. We think, today the price may fall towards level of 0.9167 and then return to level of 0.9190. After such structure is finished, we’ll estimate if it may continue moving downwards. An alternative scenario implies that the pair may try to reach a new high once again.




USD JPY, “US Dollar vs Japanese Yen”

Yen is forming a descending impulse. We think, today the price may reach level of 104.25 and then form an ascending correction to return to level of 104.90. Later, in our opinion, the market may continue forming this descending wave. Alternative scenario implies that the pair may form an ascending structure to reach a new high. After that, the market may form a reversal structure to continue forming a descending wave.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is forming an ascending structure. We think, today the price may test the upper border of this consolidation channel and then form an ascending continuation pattern. Later, in our opinion, the market may continue growing towards level of 0.9510. Alternative scenario implies that the pair may fall to break the minimum and then reach level of 0.9150.




USD RUB, “US Dollar vs Russian Ruble”

Ruble is still forming a descending structure; the market has broken its ascending channel and is forming a descending continuation pattern. We think, today the price may reach level of 36.12 and then form a correction towards level of 36.80. Later, in our opinion, the market may continue falling towards level of 34.70.




XAU USD, “Gold vs US Dollar”

After reaching a new low, Gold started forming an ascending wave.  We think, today the price may correct the first impulse towards level of 1266 and then grow to reach level of 1300. Later, in our opinion, the market may continue forming a descending wave.



 
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.

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