Forex Technical Analysis 25.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

March 25, 2014

EUR USD, “Euro vs US Dollar”

Euro reached its closest target; market formed three-wave structure so far. We think, today price may reach new maximum and level of 1.3885. Later, in our opinion, instrument may form the fifth wave of this correction towards level of 1.3735 and then continue growing up towards target at level of 1.3990.

GBP USD, “Great Britain Pound vs US Dollar”

Pound finished its first ascending impulse. We think, today price may reach level of 1.6600, form another descending structure towards level of 1.6430, and then start growing up to return to level of 1.6600 again.

USD CHF, “US Dollar vs Swiss Franc”

Franc reached its closest target. We think, today price may consolidate near level of 0.8825, reach new minimum at level of 0.8780. Later, in our opinion, instrument may complete this correction by forming the fifth ascending wave with target at 0.8875 and then continue falling down.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating. We think, today price may grow up towards level of 102.70 and then fall down to reach level of 101.90. Later, in our opinion, instrument may start new ascending movement to reach level of 102.75 and then continue moving downwards to reach 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is forming ascending structure with target at 0.9210. We think, today price may fall down to reach level of 0.9100 (at least) and then start moving upwards to reach above-mentioned target. Later, in our opinion, instrument may return to level of 0.9100 and then complete this ascending structure by reaching level of 0.9240. After that, pair may start new descending movement towards level of 0.8400.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still forming the third wave of descending correction. We think, today price may reach level of 35.70, return to level of 36.20, and then move downwards again to form the fifth wave of this correction and reach level of 35.55.

XAU USD, “Gold vs US Dollar”

Gold broke minimum of its descending impulse. We think, today price may form consolidation channel to continue falling down, which may be considered as the fourth wave. Target is at level of 1279 (at least). Later, in our opinion, instrument may form the fifth ascending wave with target at level of 1435.

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