Forex Technical Analysis 30.05.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

May 30, 2014

Euro continues falling down. We think, today price may reach level of 1.358 grow up towards level of 1.3650 to test it from below, and then move downwards again to reach level of 1.3575. Later, in our opinion, instrument may start consolidating and form reversal pattern to continue growing up towards target at level of 1.4100.

GBP USD, “Great Britain Pound vs US Dollar”

Pound started forming consolidation channel. We think, today price may continue falling down to reach target at level of 1.6655.  Possibly, pair may expand this channel upwards towards level of 1.6780. Later, in our opinion, instrument may continue falling down towards its main target.

USD CHF, “US Dollar vs Swiss Franc”

Franc is still forming ascending structure towards level of 0.8995. After reaching it, price may test level of 0.8946 from above and then form another ascending structure with target at 0.9010. Later, in our opinion, instrument may consolidate for a while and form reversal pattern to continue falling down.

USD JPY, “US Dollar vs Japanese Yen”

Yen is falling down. We think, today price may continue falling down to reach level of 101.30. Later, in our opinion, instrument may return to level of 101.70 and then start forming the third wave with local target at level of 99.30.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar completed correctional flag pattern. We think, today price may break the pattern upwards and extend it up to level of 0.9326. Later, in our opinion, instrument may move towards level of 0.9200 to break it and then continue falling down towards local target at 0.9000.

USD RUB, “US Dollar vs Russian Ruble”

Ruble continues tested its broken channel from below. We think, today price may continue falling down towards level of 33.16.

XAU USD, “Gold vs US Dollar”

Gold reached target of central part of continuation pattern. We think, today price may form another ascending structure to test level of 1299 and then start falling down towards level of 1208. Later, in our opinion, instrument may start new ascending wave to break level of 1300 upwards.

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