Forex Technical Analysis 10.11.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

November 10, 2014

Analysis for November 10th, 2014

EUR USD, “Euro vs US Dollar”

Euro has returned to test triangle pattern from below. We think, today the price may fall towards level of 1.2400 and then form a consolidation channel. If later the channel is broken downwards, the pair may move downwards to reach level of 1.2200; if upwards – it may return to level of 1.2540.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is moving upwards. We think, today the price may fall towards level of 1.5850 and then consolidate there. If later this consolidation channel is broken downwards, the pair may fall to reach level of 1.5600; if upwards – it may return to level of 1.6000.

USD CHF, “US Dollar vs Swiss Franc”

Franc has fallen towards triangle’s upper border. We think, today the price may return to level of 0.9690 and then form a consolidation range. If later this range is broken upwards, the pair may grow to reach level of 0.9800; if downwards – it may continue a descending correction towards level of 0.9555.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating near the top of its ascending wave. We think, today the price may grow to break the upper border of this consolidation channel and reach level of 116.05. If later the pair rebounds from level of 115.00 and breaks level of 114.20, the market may continue falling towards level of 112.20.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has formed a consolidation channel and broken it upwards. We think, today the price may fall towards level of 0.8630 and then form another ascending structure with the target at 0.8725. Later, in our opinion, the market may fall towards level of 0.8445.

USD RUB, “US Dollar vs Russian Ruble”

Ruble has formed one descending wave and continues falling. We think, today the price may return to level of 47.21 and then move downwards again to break the minimum of the first wave. Later, in our opinion, the market may form a consolidation channel, break it downwards, and move towards the next target at 43.50.

XAU USD, “Gold vs US Dollar”

Gold has broken a descending channel, formed a continuation pattern, and reached its upside target. We think, today the price may return to level of 1152.90 and then form another consolidation channel. If later the channel is broken upwards, the price may grow to reach level of 1201.50; if downwards – it may reach the nest target at level of 1113.00.

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