Analysis for September 26th, 2014
EUR USD, “Euro vs US Dollar”
Euro has extended another descending structure; yesterday the pair started forming an ascending impulse. We think, today the price may reach level of 1.2780 and then fall towards level of 1.2736. After such pattern, we’ll estimate whether the pair may form a reversal pattern and start a new ascending wave. The first target is at level of 1.3388.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still consolidating above level of 1.6300; this consolidation may be considered as an ascending continuation pattern. The first target is at level of 1.6550. Later, in our opinion, the market may fall towards level of 1.6300 and then continue growing.
USD CHF, “US Dollar vs Swiss Franc”
Franc started forming a descending impulse. We think, today the price may reach level of 0.9440 and then return to level of 0.9480. After such pattern, we’ll estimate whether the pair may form a reversal pattern and continue forming a descending wave. The first target is at level of 0.9100.
USD JPY, “US Dollar vs Japanese Yen”
Yen continues forming an ascending structure for reaching a new high. The price is expected to form double top pattern; this pattern is a reversal one. Later, in our opinion, the market may fall to break the minimum of this pattern. The first target is at level of 107.00. If the price chooses this scenario, it means that the uptrend is over and a new descending trend starts.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still under pressure and continues moving downwards. We think, today the price may reach level of 0.8760. Later, in our opinion, the market may form a consolidation range with a reversal pattern for a new correction towards level of 0.9100.
USD RUB, “US Dollar vs Russian Ruble”
Ruble completed its correction. We think, today the price may form another descending structure to break the minimum of the first wave, consolidate near level of 37.95, and form a descending continuation pattern. The target of the second wave is at level of 37.50. Later, in our opinion, the market may return to level of 37.95 to test it from below.
XAU USD, “Gold vs US Dollar”
Gold formed another ascending impulse. We think, today the price may form a correction towards level of 1214 and then form the second ascending impulse. The target is at 1240. Later, in our opinion, the market may return towards level of 1220 to test it from above.
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