Analysis for September 2nd, 2014
EUR USD, “Euro vs US Dollar”
Euro is under pressure and continues moving downwards. We think, today the price may reach level of 1.3090 and then return to level of 1.3150. Later, in our opinion, the market may continue falling with the target at level of 1.3080.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is also under pressure and continues moving downwards. We think, today the price may break its minimums and continue falling towards level of 1.6460. Later, in our opinion, the market may form consolidation channel and a reversal pattern.
USD CHF, “US Dollar vs Swiss Franc”
Franc is under pressure and continues moving upwards. We think, today the price may reach level of 0.9222. Later, in our opinion, the market may form a wide consolidation channel and a reversal pattern.
USD JPY, “US Dollar vs Japanese Yen”
Yen is also under pressure and continues moving upwards. The market broke its consolidation channel upward and may form an extension towards level of 104.88; the structure looks too extended. Later, in our opinion, the market may return quite fast towards level, where triangle pattern from the daily chart was broken.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar returned to the center of its consolidation channel. If the price continues growing, it may break the channel’s upper border and move upwards to reach level of 0.9510. If the price continues falling, it may test the channel’s lower border and then return to the center.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still consolidating at the top of its ascending wave. We think, today the price may form a reversal pattern to start a new correction towards level of 36.45.
XAU USD, “Gold vs US Dollar”
Gold didn’t trade yesterday due to the holiday in the USA. After the market opening, the price may continue forming another descending wave with the target at level of 1260. Later, in our opinion, the market may form a correction towards level of 1300.
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