Forex Technical Analysis 13.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

March 13, 2014

EUR USD, “Euro vs US Dollar”

Euro is moving upwards; market has broken another consolidation channel upwards and continues growing up. We think, today price may reach level of 1.3990, stat new correction, and then continue its ascending movement towards level of 1.4100.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is moving inside consolidation channel; market has reached minimum of this correction. We think, today price may continue moving upwards. However, we should note, that according to main scenario, pair is expected to fall down to reach level of 1.6480 and only after that continue growing up to reach level of 1.7000.

USD CHF, “US Dollar vs Swiss Franc”

Franc reached level of 0.8730 and right now is moving downwards. We think, today price may form another consolidation channel near level of 0.8730 and then to continue forming descending structure to reach level of 0.8300.

USD JPY, “US Dollar vs Japanese Yen”

Yen is forming reversal pattern for new ascending movement. We think, today price may leave its descending channel; next target is at 104.40. Later, in our opinion, instrument may form another descending structure towards level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar completed correctional structure and returned to the level where the channel was broken; this movement may be considered as the right shoulder of head & shoulders reversal pattern. We think, today price may form reversal structure, leave this correctional channel, and then continue falling down. Next target is at level of 0.8990.

USD RUB, “US Dollar vs Russian Ruble”

Ruble completed another ascending structure. We think, today price may fall down towards level of 35.60, form reversal structure, and continue growing up to reach level of 37.60.

XAU USD, “Gold vs US Dollar”

Gold is still forming ascending structure towards level of 1377 or even 1380. Later, in our opinion, instrument may fall down towards level of 1352 to test it from above and then continue growing up to reach level of 1490.

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