Forex Technical Analysis 31.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

March 31, 2014

EUR USD, “Euro vs US Dollar”

Euro is forming consolidation channel with ascending impulse. We think, today price may leave this channel upwards and continue growing up towards level of 1.3990. The first target is at level of 1.3820; it may be reached today.

GBP USD, “Great Britain Pound vs US Dollar”

Pound rebounded from level of 1.6600. We think, today price may form consolidation channel with descending impulse to stat the fifth wave of flag pattern towards level of 1.6430. The first target is at level of 1.6550, it may be reached today.

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving downwards to reach new minimums. We think, today price may form consolidation channel with descending impulse to reach level of 0.8630. The first target is at level of 0.8770, which may be reached today.

USD JPY, “US Dollar vs Japanese Yen”

Yen is forming consolidation channel. We think, today price may form descending impulse continue falling down towards level of 100.00. The first target, which may be reached today, is at level of 101.84.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still forming descending structure; market is forming the second descending impulse. We think, today price may form the first wave with target at 0.9160 and then return to level of 0.9225. Later, in our opinion, instrument may continue its descending movement.

USD RUB, “US Dollar vs Russian Ruble”

At daily chart, Ruble completed its correction. We think, during this week price may form consolidation channel to form reversal pattern. Later, in our opinion, instrument may start new ascending structure to reach target at level of 37.50.

XAU USD, “Gold vs US Dollar”

Gold is still consolidating. We think, today price may leave it downwards to reach level of 1272 and then start another ascending impulse towards level of 1335. Later, in our opinion, instrument may consolidate for a while and then continue growing up wave towards level of 1435.

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