Forex Technical Analysis 20.05.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

May 20, 2014

EUR USD, “Euro vs US Dollar”

Euro is still consolidating; market expanded this consolidation channel upwards and downwards to levels of 1.3740 and 1.3680. We think, today price may leave this channel and continue growing up towards level of 1.3820.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still consolidating at the top of the fourth structure of its descending wave. We think, today price may complete this wave by forming the fifth structure towards 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 still forming ascending correction towards previous descending impulse. We think, today price may reach level of 0.8935, 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 growing up towards level on 102.00. After reaching it, price may fall down towards level of 101.00 and then return to level of 101.70. Thus, market is forming consolidation channel as a continuation pattern to continue falling down. Target is at level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar reached target of its descending structure. We think, today price may start forming another ascending structure with target at level of 0.9415. If price rebounds from level of 0.9360 and reaches new minimum again, this descending movement may continue up to level of 0.9200. Later, in our opinion, instrument may start forming the third wave inside current descending trend.

USD RUB, “US Dollar vs Russian Ruble”

Ruble continues falling down; market completed the fifth wave. We think, today price may consolidate at current minimums and then form reversal structure to start new ascending wave. Next target is at level of 35.80.

XAU USD, “Gold vs US Dollar”

Gold is still consolidating inside the fifth wave. We think, today price may continue growing up towards level of 1321. After reaching it, price may continue consolidating channel and form continuation pattern. Main target of this ascending movement is at level of 1435.

RoboForex Analytical Department

Publication source
RoboForex information  RoboForex reviews

February 17, 2017
Golds rally may falter
The gold price has racked up its 2nd straight day of gains today on the back of US dollar weakness and doubts over an interest rate hike next month from the US Federal Reserve...
February 16, 2017
Where is black gold heading?
The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech in the Senate Banking Committee emphasising the fact that it Is not quite right to use the wait-and-see stance regarding the interest rate hike...
February 14, 2017
Will France exit the euro?
The Euro has come under pressure late in the European session today, after analysts warned of the huge costs that France would face should they decide to ditch the European currency...

FXCM Rating
Fort Financial Services Rating
 FXTM Rating
Exness Rating
FxPro Rating
Orbex Rating

Binary.com Rating
EZTrader Rating
365BinaryOption Rating
UKoptions Rating
TopOption Rating
Porter Finance Rating