Forex Technical Analysis 04.04.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

April 4, 2014

EUR USD, “Euro vs US Dollar”

Euro is moving according to alternative scenario. We think, today price may reach level of 1.3685. Later, in our opinion, instrument may return to level of 1.3815 (the first ascending structure) and then continue growing up towards main target at level of 1.3990.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still forming correction; market is forming the first correctional structure of the fifth wave. Target of this first structure is at level of 1.6560. Later, in our opinion, instrument may return to level of 1.6620 to test it from below and then continue falling down towards target at level of 1.6430.

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving according to alternative scenario. We think, today price may form another ascending structure towards target at level of 0.8955 and then continue moving downwards to return to level of 0.8820.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still moving near its maximums; market is forming consolidation channel. If price leaves it downwards< it will reach level of 103.00; if upwards – level of 104.40. Main scenario implies that pair may form reversal structure and continue falling down to reach level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar continues forming correction with target at 0.9250. Later, in our opinion, instrument may continue moving inside descending trend to reach main target at level of 0.8400. We think, today price may form reversal pattern and reach local target at 0.9170.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still consolidating. We think, today price may fall down to reach level of 35.40 and then start moving upwards to reach level of 35.85. Later, in our opinion, instrument may start new descending movement towards level of 34.84.

XAU USD, “Gold vs US Dollar”

Gold is still consolidating near its minimums. We think, today price may start growing up and form the fifth wave with target at level of 1435.

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