Forex Technical Analysis 15.05.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

May 15, 2014

EUR USD, “Euro vs US Dollar”

Euro is still moving close to its minimums and forming consolidation channel. We think, today price may form reversal structure for new correction towards level of 1.3840, at least. Later, in our opinion, instrument may start another descending movement to reach level of 1.3700.

GBP USD, “Great Britain Pound vs US Dollar”

Pound broke level of 1.6825 downwards. We think, today price may form consolidation channel at current minimums, expand it downwards at first, and then upwards to test level of 1.6825 from below. Later, in our opinion, instrument may complete this correction by forming the fifth wave with target at level of 1.6655 and then start new ascending wave.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still consolidating. We think, today price may form descending structure to return to level of 0.8810, at least. Later, in our opinion, instrument may form another ascending structure to reach level of 0.8950.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating and expanding this consolidation channel downwards. We think, today price may reach level of 101.30. Later, in our opinion, instrument may return to level of 101.80 and then continue falling down towards level of 101.00.
AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still consolidating and expanding this consolidation channel upwards to reach level of 0.9415, at least. Later, in our opinion, instrument may start another descending structure towards target at level of 0.9200.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still forming the fifth descending wave. We think, today price may reach new minimums and reach local target of this wave at level of 34.55. Later, in our opinion, instrument may form the fourth ascending structure towards level of 35.17 and then complete this descending wave by falling down and reaching level of 34.50. After reaching it, pair may then continue growing up.

XAU USD, “Gold vs US Dollar”

Gold is forming the fifth ascending structure. We think, today price may continue growing up to reach target at level of 1321. Later, in our opinion, price may form new correction to return to level of 1295 and then continue growing up towards main target at level of 1435.

RoboForex Analytical Department

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