Weekly Technical Analysis 23.09.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

23.09.2013

Weekly Analysis, September 23rd – 27th, 2013

EUR/USD

At the daily chart, Euro is forming the third ascending wave with the target at 1.3700. By now, the market has already broken the level of 1.3400. We think, during this week, the price may return to the above-mentioned level to test it from above and then continue growing up. Later, in our opinion, the pair may start a new correction towards the level of 1.3400. The form and the structure of this correction will help us to define the exact target of the descending movement.



GBP/USD

At the daily chart, Pound completed the third ascending wave. We think, during this week, the price may form the first part, a descending one, of the continuation pattern. The predicated target is at 1.5800. Later, in our opinion, the pair may start a new ascending movement to break the top.



USD/CHF

At the daily chart, Franc finished a descending wave, which may be considered as the third one. We think, during this week, the price may reach a new minimum and start moving back to return to the level of 0.9260 (at least). Later, in our opinion, the pair may start forming another descending structure to break the minimum.



USD/JPY

At the daily chart, the USD/JPY currency pair is moving towards the target at 101.20. We think, during this week, the price may fall down towards the level of 98.60 and then start another ascending structure towards the above-mentioned target at 101.20.



AUD/USD

At the daily chart, Australian Dollar broke the level of 0.9300 and continues moving upwards to reach the target at 0.9660. We think, during this week, the price may return to the level of 0.9300 and then continue moving upwards.



GOLD

At the daily chart, Gold is forming an ascending correction towards the level of 1390. Right now, the market is falling down towards the target at 1304. Later, in our opinion, the instrument may form an ascending structure to reach the above-mentioned level.  



 
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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