Forex Technical Analysis: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold

Analysis for September 30th, 2014

EUR USD, “Euro vs US Dollar”

Euro is forming an ascending wave. We think, today the price may form the third impulse and extend it towards level of 1.2740. Later, in our opinion, the market may start a correction with the target at level of 1.2690. In this case, this first pattern will have a potential to form another ascending wave as a correction towards level of 1.3388, at least.

GBP USD, “Great Britain Pound vs US Dollar”

Pound continues moving downwards inside a consolidation channel. We think, today the price may break it upwards and return to level of 1.6340. The main scenario implies that the market may continue growing to reach level of 1.6550. An alternative one suggests that the pair may form the fifth descending structure towards level of 1.6180. After that, the price may continue growing towards the target.

USD CHF, “US Dollar vs Swiss Franc”

Franc is forming the first descending wave. We think, today the price may fall to reach level of 0.9480 and extend this third impulse. Later, in our opinion, the market may return to level of 0.9520. Such pattern is strong enough to continue falling as a correction towards level of 0.9050, at least. The market is expected to form head & shoulders reversal pattern on the H4 chart.

USD JPY, “US Dollar vs Japanese Yen”

Yen is moving inside the first descending wave. We think, today the price may form the third descending impulse with the target at level of 109.00. Later, in our opinion, the market may return to level of 109.50. This pattern is strong enough to continue falling inside the downtrend. The first target is at level of 105.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is forming another ascending impulse. We think, today the price may reach level of 0.8810 and then start falling towards level of 0.8750. This pattern is strong enough to continue growing and return to level of 0.9100, at least.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is forming a structure with the target at level of 39.88. We think, today the price may reach fall to level of 38.96 and then grow towards the above-mentioned target. Later, in our opinion, the market may consolidate and form a reversal pattern. The market is expected to start a correction towards level of 34.00.

XAU USD, “Gold vs US Dollar”

Gold is still consolidating near its lows. We think, today the price may return to level of 1232. Later, in our opinion, the market may form another consolidation channel as an ascending continuation pattern towards level of 1240.