Forex Technical Analysis 26.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

26 March, 2014

EUR USD, “Euro vs US Dollar”

Euro reached new minimum. We think, today price may grow up and reach level of 1.3885. Later, in our opinion, instrument may fall down to reach new minimum again to expand its consolidation channel and then continue growing up towards target at level of 1.3990.

GBP USD, “Great Britain Pound vs US Dollar”

Pound broke maximum of its first ascending impulse. We think, today price may form consolidation channel to break descending channel and continue growing up towards level of 1.6600. Later, in our opinion, instrument may form another descending structure to reach level of 1.6430.

USD CHF, “US Dollar vs Swiss Franc”

Franc completed its ascending structure. We think, today price may start new descending movement towards level of 0.8780. Later, in our opinion, instrument may form another ascending structure to reach new maximum and then continue falling down.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating; it looks like pair is forming triangle pattern. We think, today price may leave the pattern upwards to reach level of 102.70 and then fall down towards level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still forming ascending structure with local target at 0.9210. We think, today price may stat new descending correction to reach level of 0.9066 and then form another ascending structure to reach 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”

After making another descending movement, Gold is consolidating. This consolidation may be considered as continuation pattern towards level of 1279. Later, in our opinion, instrument may continue growing up to reach level of 1435.

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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