Forex Technical Analysis 08.11.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

November 8, 2013

EUR/USD

Euro, influenced by news, reached new minimums; this decline is considered as correction. We think, today the price may form consolidation channel between 1.3457 and 1.3374. Later, in our opinion, the pair may break 1.3457 upwards and form reversal pattern.

GBP/USD

Pound continues moving inside its consolidation channel. We think, today the price may try to reach new maximums and then fall down towards 1.5900. Later, in our opinion, the pair may form new ascending structure to break maximums again.

USD/CHF

Franc, influenced by news, completed ascending structure and reached new maximum. We think, today the price may consolidate between 0.9191 and 0.9120 and then continue falling down towards 0.9065.

USD/JPY

After reaching new maximum, Yen started forming descending impulse. We think, today the price may continue falling down towards 97.35 and then form new ascending structure to return to 98.35.

AUD/USD

Australian Dollar is forming descending structure to renew minimum of its consolidation. We think, today the price may reach 0.9408 and then test 0.9475 from below. Later, in our opinion, the pair may continue falling down towards 0.9200.

GOLD

Gold renewed minimum of its consolidation. We think, today the price may test 1316 from below and then continue moving downwards to reach 1274.



 
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