Forex Technical Analysis 26.05.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

May 26, 2014

EUR USD, “Euro vs US Dollar”

Euro continues falling down. We think, today price may return to level of 1.3700 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. We think, today price may reach level of 1.6865, form another descending structure with target at level of 1.6808, and then grow up to return to level of 1.6865 again. Thus, instrument is forming consolidation channel to continue falling down towards level of 1.6655.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still moving upwards with target at level of 0.8979. After reaching it, price may fall down towards 0.8900 and then form another ascending structure to reach level of 0.9000. Later, in our opinion, instrument may continue falling down towards level of 0.8300.

USD JPY, “US Dollar vs Japanese Yen”

Yen reached level of 102.00. We think, today price may continue falling down to reach level of 100.50. Later, in our opinion, instrument may return to level of 101.70 and then start new descending movement towards level of 99.30.

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 reach level of 0.9135. Later, in our opinion, instrument may test level of 0.9200 from below and then continue falling down towards level of 0.9000.
USD RUB, “US Dollar vs Russian Ruble”

Ruble is still moving below daily ascending channel. We think, today price may continue falling down to reach level of 33.16 and then return to level of 34.65 to test it from below. Later, in our opinion, instrument may start forming another descending structure.

XAU USD, “Gold vs US Dollar”

Gold isn’t traded today. Tomorrow, after the market opening, price may continue growing up towards level of 1435.

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