Analysis for October 8th, 2013
Euro is consolidating and forming divergent triangle
pattern. We think, today the price may leave the pattern downwards and reach the level of 1.3485. Later, in our opinion, the pair may make a reverse to start a new ascending movement.
Pound is forming another descending structure to reach the level of 1.6000. After reaching it, the pair may start a new ascending wave towards the target at 1.6290.
Franc formed two ascending impulses and a correction. We think, today the price may start forming the third impulse with the target at 0.9090 and then form a correction to return to the level of 0.9030. Later, in our opinion, the pair may start an ascending correction.
The USD/JPY currency pair reached new minimums. We think, today the price may return to the level of 97.40 to test it from below. Later, in our opinion, the pair may start a new descending movement to reach the level of 96.00.
Australian Dollar is still being corrected towards the previous ascending wave. We think, today the price may fall down to reach the level of 0.9350. The main scenario implies that the pair may continue falling down to reach the level of 0.9235 and then start forming a new ascending structure towards the local target at 0.9565.
Gold continues moving near its maximums. We think, today the price may fall down towards the level of 1315 and then grow up to reach the target at 1330. Later, in our opinion, the instrument may form a descending wave towards the level of 1252.
RoboForex Analytical Department