Forex Technical Analysis 23.05.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

May 23, 2014

EUR USD, “Euro vs US Dollar”

Euro continues falling down. We think, today price may reach level of 1.3625, return to level of 1.3680, and then complete this descending wave by falling down and reaching level of 1.3580. Later, in our opinion, instrument may consolidate for a while, for reversal pattern, and then start new ascending movement.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is forming another descending structure with target at level of 1.6800. We think, today price may return to level of 1.6860 to test it from below and then form another descending structure with target at level of 1.6655. Alternative scenario implies that pair may rebound from level of 1.6825 upwards.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still moving upwards. We think, today price may reach level of 0.8970, fall down towards 0.8920, and then form another ascending structure to reach new maximum. Later, in our opinion, instrument may continue falling down.

USD JPY, “US Dollar vs Japanese Yen”

Yen reached its target and right now is moving upwards. We think, today price may test level of 102.00 from below, and then continue falling down to reach level of 99.20. Later, in our opinion, instrument may return to level of 102.00 to test is from below again and then start new descending movement towards level of 97.90.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still consolidating and forming continuation pattern to continue moving downwards. We think, today price may break level of 0.9200 downwards and expand this consolidation channel up to level of 0.9140. Later, in our opinion, instrument may return to level of 0.9200 to test it from below, and then continue falling sown. Next target will be at level of 0.9000.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is forming reversal structure to eliminate the gap, at least. We think, today price may form consolidation channel near levels of 34.80 – 33.80. Later, in our opinion, instrument may  continue falling down towards level of 33.

XAU USD, “Gold vs US Dollar”

Gold completed another ascending impulse and corrected it. We think, today price may form new ascending impulse to reach level of 1321. Later, in our opinion, instrument may consolidate for a while continue growing up towards level of 1435.

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