Forex Technical Analysis 07.05.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

May 7, 2014

EUR USD, “Euro vs US Dollar”

Euro broke its consolidation channel upwards. We think, today price may continue moving upwards towards target at level of 1.3990. Alternative scenario implies that instrument may return to the broken border of consolidation channel and then continue growing up towards above-mentioned target. Main tendency is still bullish; target is at level of 1.4100.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is extending its ascending wave; market has already reached consolidation area to continue forming ascending wave with target at level of 1.7730. We think, today price may another consolidation channel and form new continuation pattern. Closest target is at level of 1.6850.

USD CHF, “US Dollar vs Swiss Franc”

Franc broke lower border of triangle pattern and is still moving downwards to reach level of 0.8700. Later, in our opinion, instrument may grow up towards level of 0.8780 and then continue falling down to reach level of 0.8630.

USD JPY, “US Dollar vs Japanese Yen”

Yen continues falling down; market is forming another descending wave with target at level of 100.00. We think, today price may fall down to reach level of 101.00. Later, in our opinion, instrument may return to level of 102.10 and then continue moving downwards to reach main target.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar completed its correctional wave. We think, today price may move downwards to reach level of 0.9317. Later, in our opinion, instrument may test level of 0.9340 from below and then continue falling down to break level of 0.9210.

USD RUB, “US Dollar vs Russian Ruble”

Ruble continues falling down. We think, today price may consolidate for a while near level of 35.44 and then continue falling down with target at level of 34.80. Later, in our opinion, instrument may form another consolidation channel and new reversal pattern to start new ascending movement towards level of 37.50.

XAU USD, “Gold vs US Dollar”

Gold is still consolidating near level of 1309; this movement may be considered as continuation pattern. We think, today price may form ascending structure towards level of 1340. Later, in our opinion, instrument may fall down towards level of 1310 to test it from above and then start new ascending movement to reach level of 1350.

RoboForex Analytical Department

Publication source
RoboForex information  RoboForex reviews

January 20, 2017
Cautious EURUSD Ahead of ECB Press Conference
USD, and the US government bond yields, surged last night following Fed president Janet Yellen’s speech to the Commonwealth Club in San Francisco...
January 19, 2017
Is equilibrium out of reach?
Let’s check what’s going on with Oil before turning our attention to the Russian Ruble. “Black gold” is forming a reversal pattern next to the key level of 52.10. The only matter is that this pattern is above the horizontal level, but the 52.10 level can potentially become the neckline of our pattern...
January 18, 2017
Trump Inauguration Market Outlook
Friday, January 20, 2017 will mark the historic inauguration of what promises to be a highly unconventional US presidential administration...

Tickmill Rating
XTB Rating
FxPro Rating
HotForex Rating
 FXTM Rating
OctaFX Rating

OptionTrade Rating
TopOption Rating
Beeoptions Rating
Porter Finance Rating
Migesco Rating
UKoptions Rating