Forex Technical Analysis 09.10.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

09.10.2014

Analysis for October 9th, 2014

EUR USD, “Euro vs US Dollar”

Euro has reached the target of an ascending structure and right now is extending it. We think, today the price may reach level of 1.2760 and then start a correction the center of this ascending impulse. The target of this correction is at level of 1.2635. Later, in our opinion, the market may start forming another ascending wave to reach level of 1.2900.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is moving upwards and extending its stricture. We think, today the price may reach level of 1.6200 and then start a correction to return to level of 1.6070. Later, in our opinion, the market may resume moving upwards to reach level of 1.6400.




USD CHF, “US Dollar vs Swiss Franc”

Franc is falling and extending a descending wave. We think, today the price may reach level of 0.9490 and then start a correction to return to level of 0.9588 to test it from below. Later, in our opinion, the market may continue falling towards the next target at 0.9340.




USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating near the minimums of the second descending impulse; which may be considered as the third descending wave. We think, today the price may return towards level of 108.90 and then form another descending structure to break level of 108.00. The pair is expected to reach level of 107.20 and then return towards 10.800 to test it from below. Thus, the market may form a descending continuation pattern. The target of the third wave is at 106.25.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is extending its first ascending wave. We think, today the price may complete this ascending movement and start a correction to return to level of 0.8745 to test it from above. Later, in our opinion, the market may continue growing to break level of 0.8850. The next target is at level of 0.9020.




USD RUB, “US Dollar vs Russian Ruble”

Ruble is still growing. We think, today the price may reach level of 40.24. Later, in our opinion, the market may form a reversal pattern and start forming a descending wave. The target of the first descending wave is at 38.30.




XAU USD, “Gold vs US Dollar”

Gold is moving upwards. We think, today the price may start a correction to return to 1195.00. If the pair chooses to extend this wave up to 1235.00, this correction may finish at 1209.50. Later, in our opinion, the market may continue growing to reach the next target at 1260.00.



 
RoboForex Analytical Department

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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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