Forex Technical Analysis 23.01.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

January 23, 2014

EUR/USD

Euro is still forming its first ascending impulse. We think, today price may form the fifth structure of this impulse with target at 1.3600 and then start correction towards level of 1.3560. Later, in our opinion, pair may start forming another ascending structure to reach target at 1.3700.

GBP/USD

Pound is still moving inside ascending wave. We think, today price may return to level of 1.6475 and then start new ascending movement towards level of 1.6680. Alternative scenario implies that pair may form another descending structure to reach level of 1.6260.

USD/CHF

Franc is still being corrected. We think, today pair may form descending structure to continue moving inside descending trend. Target is at level of 0.9000.

USD/JPY

Yen is still consolidating; market formed triangle pattern. We think, today price may move downwards to break level of 103.80 and then continue falling down to reach target at 102.75.

AUD/USD

Australian Dollar is still being corrected to towards level of 0.8910. We think, today price may form the fifth ascending structure to reach above-mentioned target. After reaching it, pair form reversal structure and continue moving downwards to reach main target at level of 0.8400.

GOLD

Gold is still consolidating; market formed descending structure towards lower border of this consolidation channel. We think, today price may grow up towards channel’s upper border, break it, and then continue growing up towards level of 1277.

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