Forex Technical Analysis 20.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

20 March, 2014

EUR USD, “Euro vs US Dollar”

Euro is being corrected; market completed the third descending wave. We think, today price may return to level of 1.3900 and then form another descending structure towards level of 1.3800. Later, in our opinion, instrument may continue growing up towards level of 1.3990.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still being corrected; right now market is falling down and forming the third wave with target at level of 1.6423. We think, today price may return to level of 1.6605 and then continue moving downwards to reach its target.

USD CHF, “US Dollar vs Swiss Franc”

Franc is also being corrected. We think, today price may fall down to reach level of 0.8768 and then form another ascending structure to break current maximum. Later, in our opinion, instrument may continue falling down.

USD JPY, “US Dollar vs Japanese Yen”

Yen is also still being corrected. We think, today price may fall down to reach level of 101.90 and then form another ascending structure towards level of 102.70. Later, in our opinion, instrument may start new descending movement to reach level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar started forming new descending structure. We think, today price may return to level of 0.9400 and then continue falling down to reach level of 0.8940.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is also being corrected. We think, today price may reach level of 36.20, fall down towards level of 3580, and then return to level of 36.50. Later, in our opinion, instrument may form another descending structure to reach level of 35.68.

XAU USD, “Gold vs US Dollar”

Gold reached local target of this descending correction. We think, today price may return to level of 1356 and then form another descending structure to reach level of 1320. Later, in our opinion, instrument may continue growing up towards level of 1400.

RoboForex Analytical Department


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The pound is strengthening for the second day

The British Pound continues to grow on Wednesday. The currency is rather actively moving away from the previous local minimum. The current quotation of the GBP/USD pair is 1.5310. No one is talking about the pound moving above 1.55 yet there are too many external risks to which investors are not paying attention...

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Euro has returned to test triangle pattern from below. We think, today the price may fall towards level of 1.2400 and then form a consolidation channel. If later the channel is broken downwards, the pair may move downwards to reach level of 1.2200...

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