Forex Technical Analysis 12.06.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

June 12, 2014

EUR USD, “Euro vs US Dollar”

Euro is about to leave its descending channel, which may be considered as correction. We think, today price may start new ascending movement to break level of 1.3676 and form the first wave inside the fifth one. Target of this first wave is at level of 1.3845.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is forming another ascending structure towards level of 1.6850 at least, or even 1.6880. Later, in our opinion, instrument may form another descending structure towards level of 1.6655 and then start moving inside ascending trend.

USD CHF, “US Dollar vs Swiss Franc”

Franc left its ascending channel and completed correction. We think, today price may continue falling down and form the third wave with target at level of 0.8800. Later, in our opinion, instrument may move upwards and return to level of 0.8900.

USD JPY, “US Dollar vs Japanese Yen”

Yen completed its descending impulse. We think, today price may correct this impulse and return to level of 102.40. Later, in our opinion, instrument may falling down towards next target at level of 100.50.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar broke triangle pattern upwards and right now is testing it from above. We think, today price may fall down to reach level of 0.9337, or even 0.9270. Later, in our opinion, instrument may start new ascending movement to reach level of 0.9465.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is consolidating. We think, today price may leave this channel downwards and continue falling down reach level of 33.94. After reaching it, price may start new ascending structure to return to level of 35.00.

XAU USD, “Gold vs US Dollar”

Gold is breaking its ascending channel. We think, today price may continue forming descending wave with local target at level of 1213. Later, in our opinion, instrument may return to level of 1260 and then start another descending movement towards level of 1208.

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