Forex Technical Analysis 05.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

March 5, 2014

EUR USD, “Euro vs US Dollar”

Euro is moving downwards to test level of 1.3710. We think, today price may leave this descending channel and start new ascending movement to form consolidation channel in the form of triangle pattern near level 1.3780. Later, in our opinion, instrument may break it upwards and then continue moving upwards to reach level of 1.3850.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is moving inside consolidation channel; market may either continue falling down towards level of 1.6550 or move upwards to reach level of 1.6800. However, main scenario still implies that price may continue growing up towards target at level of 1.7000.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still forming ascending impulse. We think, today price may reach level of 0.8890, consolidate for a while, form reversal structure, and then continue falling down. Next target is at 0.8730.

USD JPY, “US Dollar vs Japanese Yen”

Yen continues moving inside wide consolidation channel; which may be considered as continuation pattern towards level of 100.00. Only after reaching this level, price may reverse and move upwards to reach level of 104.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still being corrected. We think, today price may continue falling down towards level of 0.8800, test level of 0.8940 from below, and then move downwards again to reach level of 0.8830.

XAU USD, “Gold vs US Dollar”

Gold broke ascending channel at level of 1335 and right now is forming consolidation channel near it. We think, today price may stop consolidating and continue falling down to reach level of 1319.50. Later, in our opinion, instrument may start return to level of 1335 and then continue falling down towards level of 1285.

RoboForex Analytical Department

Publication source
RoboForex information  RoboForex reviews

October 27, 2016
Daily Technical Outlook for October 27, 2016
The Euro bounced during yesterday after reaching a major support located at 1.0850 in the weekly chart. However, the current recovery can be short-lived as long as prices continue to trade below 1.1040peak, which represents the post-ECB high...
October 27, 2016
Brexit Barometer
The Brexit vote back in June taught markets never to take anything for granted and the same holds true for the upcoming US Presidential election. A poll lead for Trump in Florida yesterday, combined with some further revelations in the daily mud-slinging...
October 26, 2016
Sterling reversal
What we saw in sterling yesterday was instructive of the dilemma that may face other central bankers before long. Carney played down expectations of a further easing in policy before the end of the year, as was strongly suggested in August when they eased policy in the wake of the Brexit referendum...

FIBO Group Rating
FxPro Rating
FXCM Rating
FBS Rating
HYCM Rating
Orbex Rating

EZTrader Rating
OptionsXO Rating
Empire Option Rating
Binary Brokerz Rating
Beeoptions Rating
365BinaryOption Rating