Forex Technical Analysis 24.06.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

June 24, 2014

EUR USD, “Euro vs US Dollar”

EURUSD remains to stay possibly in ascending trend phase. For today target of 1.3660 is still relevant. Later it is possible to see consolidation bullish structure. After that I will expect growth with possible target of 1.3800. Thus, it may be 5th wave with further target of 1.4100.

GBP USD, "British pound vs US Dollar"

GBPUSD has probably emerged from correctional channel and it is possible to see today ascending impulse with target of 1.7115 or higher. After that I will expect correction of higher structure. For such correction market will probably need to build wider consolidation phase.

USD CHF, "US Dollar vs Swiss Franc"

USDCHF is continuing to move inside descending impulse. For today basic scenario is breakout of 0.8900 and further consolidation with possible bearish structure. Target for descending move is considered to be at 0.8780. It will be part of the whole descending impulse with target of 0.8300.

USD JPY, "US Dollar vs Japanese Yen"

USDJPY is continuing to consolidate after descending impulse. For today, I expect continuation of descending impulse with hitting 101.70. This movement can also hit 100.50. In case it happens, I will expect that price will pull back with testing 101.70 from below.

AUD USD, "Australian dollar vs US dollar"

AUDUSD continues to move within bullish structure with 0.9465 as a local target. After that I will expect development of 4th correctional structure with 0.9270 as a target. After that ascending impulse with target of 0.9485 can occur. In case it happens, bullish structure will be completed. Finally, downtrend can be resumed with 0.8400 as a target.

USD RUB, "US Dollar vs Russian Rouble"

Russian rouble is trading inside 3rd descending wave with 33.94 as a target. For today I will expect that target will be achieved with further development of 4th correctional structure and hitting 35.00. After that 5thdescending wave can be developed with 33.20 as a target.

 XAU USD, "Gold vs US Dollar"

XAUUSD (Gold) is consolidating on the top. I expect that it is going to be the part of reversal structure. For today another descending wave is possible.

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