Forex Technical Analysis 06.06.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

June 6, 2014

EUR USD, “Euro vs US Dollar”

Influenced by the news, Euro fell down very fast, reached all possible targets of its descending structure, but then started growing up by forming ascending impulse, which is strong enough to continue moving upwards. We think, today price may correct this impulse to the middle at least, or to level of 1.3560 at maximum; this correction may be considered as flag pattern. Later, in our opinion, instrument may to continue moving upwards to reach level of 1.4100.

GBP USD, “Great Britain Pound vs US Dollar”

Pound tried to expand its consolidation channel upwards. We think, today price may continue falling down and expand this channel downwards to reach level of 1.6655. Later, in our opinion, instrument may form reversal pattern to continue growing up.

USD CHF, “US Dollar vs Swiss Franc”

Influenced by the news, Franc grew up very fast, reached all possible targets of its ascending structure, but then started falling down by forming descending impulse, which is strong enough to continue moving downwards. We think, today price start correction towards this ascending impulse and reach level of 0.8980. Later, in our opinion, instrument may continue falling down.  Main target is at level of 0.8300.

USD JPY, “US Dollar vs Japanese Yen”

Yen broke minimum of its descending impulse and right now continues falling down. We think, today price may reach target at level of 100.50.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still forming consolidation channel. We think, today price may break level of 0.9200 downwards and then continue falling down to reach target at level of 0.9000. Alternative scenario implies that pair may move upwards to test upper border of triangle pattern.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is forming descending correction towards level of 34.66. Later, in our opinion, instrument may form another ascending structure to reach level of 35.35 (at least) and then start falling down again towards level of 34.66.

XAU USD, “Gold vs US Dollar”

Gold is forming consolidation channel. We think, today price may try to test level of 1258 from below. Later, in our opinion, instrument may form another descending structure to reach to level of 1208.

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