Forex Technical Analysis 25.09.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

25.09.2013

Analysis for September 25th, 2013

EUR/USD

Euro continues moving downwards; right now, the market is forming the third wave with the target at 1.3445. We think, today the price may reach this target and then return to the level of 1.3492 to test it from below. Later, in our opinion, the pair may start forming the fifth structure, a descending one, with the target at 1.3420.



GBP/USD

Pound is still forming its third descending wave. We think, today the price may reach the target at 1.5945 and then return to the level of 1.6015. Later, in our opinion, the pair may start forming the fifth wave, a descending one, with the target at 1.5870 and eliminate the gap.



USD/CHF

Franc broke its consolidation channel upwards. We think, today the price may reach the level of 0.9176 and then start a new descending movement. Later, in our opinion, the pair may start forming the fifth wave, an ascending one, towards the target at 0.9200.



USD/JPY

The USD/JPY currency pair broke the minimum of its descending impulse. We think, today the price may continue moving downwards with the target at 98.00.



AUD/USD

Australian Dollar is forming the third descending structure. We think, today the price may reach the target at 0.9324 and then return to the level of 0.9390 to test it from below. Later, in our opinion, the pair may complete this correction by forming the fifth descending structure with the target at 0.9255.



GOLD

Gold reached a new minimum and continues moving inside its consolidation channel. The main scenario is still the same: the price may form another ascending impulse towards the level of 1390. One of the alternative scenarios implies that the instrument may continue moving inside this consolidation channel and then fall down to reach the level of 1264.



 
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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