Forex Technical Analysis 19.05.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

May 19, 2014

EUR USD, “Euro vs US Dollar”

Euro is still forming correctional flag pattern towards previous ascending impulse. We think, today price may continue falling down to reach target of this pattern at level of 1.3680 and then start another ascending structure towards level of 1.3800.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still moving below level of 1.6825; this movement may be considered as the fifth descending structure to complete current correction with target at level of 1.6655. Later, in our opinion, instrument may form reversal structure to continue moving upwards.

USD CHF, “US Dollar vs Swiss Franc”

Franc is growing up; this movement may be considered as ascending correction towards previous descending impulse. We think, today price may reach level of 0.8935 and then continue falling down to break level of 0.8880 and reach target at level of 0.8820.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating near level on 101.50. We think, today price may fall down to reach level of 101.00 and then grow up towards level of 102.00. Later, in our opinion, instrument may complete this descending wave by forming another descending structure towards level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is moving inside wide consolidation channel. We think, today price may continue forming this descending structure with target at level of 0.9305. Later, in our opinion, instrument may start another ascending movement to reach level of 0.9415 and then continue falling down.

USD RUB, “US Dollar vs Russian Ruble”

Ruble continues falling down towards level of 34.54. After reaching it, instrument may start growing up to reach level of 35.15 (at least) and then complete this descending wave by forming another descending structure with target at level of 34.50.

XAU USD, “Gold vs US Dollar”

Gold completed correction and right now is moving inside ascending structure with target at level of 1321. After reaching it, price may form consolidation channel and form continuation pattern to continue growing up.

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