Forex Technical Analysis 14.10.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

14.10.2013

Analysis for October 14th, 2013

EUR/USD

The market was opened with a gap today; Euro continues forming an ascending structure with the target at 1.3607.  We think, today the price may reach this target and then start falling down towards the level of 1.3545. Later, in our opinion, the pair may start forming a new ascending wave with the target at 1.3670.



GBP/USD

The market was opened with a gap this morning; Pound started forming another ascending structure. We think, today the price may continue growing up to break the level of 1.6000 and then to reach the target at 1.6085. Later, in our opinion, the pair may fall down towards the level of 1.6000 again.



USD/CHF

The market was opened with a gap today; Franc is forming a descending wave with the target at 0.9009. Later, in our opinion, the price may grow up to test the level of 0.9067 from below and then continue falling down towards the target at 0.8935.



USD/JPY

The market was opened with a gap this morning; the USD/JPY currency pair is moving downwards. We think, today the price may continue forming this descending wave with the target at 97.42 and then grow up to test the level of 98.00 from below. Later, in our opinion, the pair may continue falling down to reach the target at 96.00.



AUD/USD

The market was opened with a gap today; We think, today Australian Dollar may test the lower border of its consolidation channel and then start moving upwards to reach the upper one. If the pair breaks the channel upwards, it may reach the target at 0.9565; if downwards – the level of 0.9230.



GOLD

The market was opened with a gap this morning; the price is forming a correction inside the fifth wave and moving towards the level of 1287. Later, in our opinion, the instrument may fall down towards the local target at 1252.



 
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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