Forex Technical Analysis 10.04.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

April 10, 2014

EUR USD, “Euro vs US Dollar”

Euro started forming descending impulse. We think, today price may fall down to reach level of 1.3754. The structure of this descending movement will help to define future scenario. If market forms flag pattern, instrument may continue growing up towards level of 1.4000.

GBP USD, “Great Britain Pound vs US Dollar”

Pound also started forming descending impulse. We think, today price may fall down towards level of 1.6640. The structure of this descending movement will help to define future scenario. If market starts forming flagpattern, pair may continue growing up towards level of 1.7000.

USD CHF, “US Dollar vs Swiss Franc”

Franc started forming ascending impulse. We think, today price may return to level of 0.8876. Market is expected to form flag pattern; the structure of this pattern will help to define future scenario. According to main scenario, market may continue falling down inside descending trend. However, alternative scenario implies that pair may yet try to reach new maximum.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating. We think, today price may return to level of 103.18 and then continue falling down towards level of 100.00. Alternative scenario implies that pair may reach new top at level of 104.20 and only after that start moving downwards to reach level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian is starting new descending impulse. We think, today price may form the first descending wave with target at 0.9230, return to level of 0.9370, and then continue moving downwards inside descending trend.

USD RUB, “US Dollar vs Russian Ruble”

Ruble tried to break level of 35.80. We think, today price may consolidate for a while and form continuation pattern to continue growing up. Local target of the third wave is at level of 36.20. Later, in our opinion, instrument may move downwards to reach level of 35.80 and test it from above.

XAU USD, “Gold vs US Dollar”

Gold finished another ascending structure and completed the first ascending wave; this ascending movement may be considered as the beginning of the fifth wave with target at 1435. We think, today price may form descending structure to reach level of 1295 (at least). This structure may be considered as correction towards the first ascending impulse. Later, in our opinion, instrument may grow up to reach target at 1357.

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