Forex Technical Analysis 20.06.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

June 20, 2014

EUR USD, “Euro vs US Dollar”

EURUSD is continuing to move in ascending impulse with 1.3660 as a target. Breakout of 1.3680 is not excluded. After that possible scenario is correction to 1.3580.  In case it happens, we may see further growth and breakout of 1.3680 with further bullish structure having projected target of 1.3850

GBP USD, "British pound vs US Dollar"

GBPUSD is moving within ascending impulse. For today I expect that price will achieve 1.7070 or higher. Then correction to 1.7000 will be possible. In case it happens, growth will be possible with 1.7115 as a target. In case everything of described above happens, I expect bullish structure to be completed and bearish correction to be initiated.

USD CHF, "US Dollar vs Swiss Franc"

USDCHF is probably developing inside bearish structure. For today I expect achieving target of 0.8890 or lower. After that consolidation with further bearish structure is expected. Target of his wave is considered to be at 0.8780.

USD JPY, "US Dollar vs Japanese Yen"

USDJPY had broken out correctional channel and probably continues to move inside bearish structure. For today, I assume that 101.00 level can be achieved. After that 101.70 can be tested from below. In case everything of described above happens, I will expect bearish structure development with 100.50 as a target.

AUD USD, "Australian dollar vs US dollar"

AUDUSD continues to move within bullish structure with 0.9460 as a target. If this target will be achieved, I will expect correctional move to 0.9270 level. In case it happens, new bullish wave will be possible with 0.9480 as a target. Downtrend can be resumed after that.

USD RUB, "US Dollar vs Russian Rouble"

Russian rouble has broken out triangle to the downside and tested breakout line from below. For today I expect that downtrend is to be continued with possible target of 33.94. In case it happens, I will expect development of 4th correctional wave with target of 35.00. Later I will expect declining wave with 33.20 as a target.

XAU USD, "Gold vs US Dollar"

XAUUSD (Gold) is continuing to develop within ascending impulse with elongation of 4th wave. For today I assume that ascending channel can be broken out with further development of declining wave with possible target of 1208. The whole structure looks like bullish pennant formation. Potential of this structure can be realized only after another declining wave.

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