Forex Technical Analysis 02.04.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

April 2, 2014

EUR USD, “Euro vs US Dollar”

Euro is still forming ascending wave with target at level of 1.3820. Later, in our opinion, instrument may fall down to return to level of 1.3765 and then start new ascending wave towards level of 1.3990.

GBP USD, “Great Britain Pound vs US Dollar”

Pound continues forming descending structure, which may be considered as the fifth wave wit target at level of 1.6430. We think, today price may form the first descending structure of this wave with local target at level of 1.6560.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still forming descending structure. We think, today price may continue moving towards level of 0.8760 and then return to level of 0.8830.

USD JPY, “US Dollar vs Japanese Yen”

Yen continues forming ascending structure; which may be considered as the fifth wave of current correction with target at 103.90 or even 104.20. Later, in our opinion, instrument may consolidate for a while, form reversal pattern, and continue falling down to reach level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still forming descending impulse. We think, today price may complete this descending structure at level of 0.9200 and then return to level of 0.9250. Later, in our opinion, instrument may continue forming the first descending wave with main at level of 0.8400.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is consolidating near level of 35.34. We think, today price may return to level of 35.34 to test it from below and then continue falling down towards level of 33.81.

XAU USD, “Gold vs US Dollar”

Gold continues forming consolidation channel near its minimums; market formed upside down double toppattern. We think, today price may leave this consolidation channel upwards and start forming the fifth ascending wave with target at level of 1435.

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