Forex Technical Analysis 06.09.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

06.09.2013

Analysis for September 6th, 2013

EUR/USD

Euro completed a descending structure as the third wave. We think, today the price may form the fourth wave with the main target at 1.3320. The first target is at 1.3220. After reaching this target, the pair may start a correction towards the level of 1.3160 and then continue growing up to reach the main target.



GBP/USD

Pound reached its local target. We think, today the price may start a descending correction towards the level of 1.5560 and then complete this structure by forming the fifth ascending wave at the level of 1.5690. Later, in our opinion, the pair may start a deeper correction towards the level of 1.5500.



USD/CHF

Franc completed the third ascending wave. We think, today the price may start a descending structure to return to the level of 0.9300 and then form the fifth wave to reach the target at 0.9470. Later, in our opinion, the pair may start a new descending movement towards the target at 0.9110.



USD/JPY

The USD/JPY currency pair completed an extension of the third ascending wave. We think, today the price may fall down towards the level of 99.00 and then form a correction to reach the level of 99.50. Later, in our opinion, the pair may continue moving downwards to reach the level of 98.00 and then form the fifth ascending structure towards the target at 101.00.



AUD/USD

Australian Dollar finished the first descending impulse and right now is forming a continuation pattern close to the broken ascending channel. We think, today the price may reach the target at 0.9077, return to the broken ascending channel, and then continue falling down towards the main target at 0.9820.



GOLD

Gold completed the third wave. We think, today the price may start a correction to return to the level of 1390 and then finish this correction by forming the fifth wave, a descending one, at the level of 1347. Later, in our opinion, the instrument may form a new ascending wave 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.

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