Forex Technical Analysis 13.12.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

December 13, 2013

EUR/USD

Euro is moving downwards; marker formed continuation pattern. Target is at 1.3707 (at least). Later, in our opinion, pair may form another ascending structure towards 1.3815 and then start new, deeper and more serious correction.

GBP/USD

Pound continues falling down. We think, today price may reach 1.6280 and then return to 1.6400. Later, in our opinion, pair may continue moving downwards. Alternative scenario implies that after reaching 1.6400, price may continue moving inside up trend.

USD/CHF

Franc broke its consolidation channel upwards and continues forming ascending structure, which may be considered as correctional one. We think, today price may reach 0.8920 and then fall down towards 0.8880. Later, in our opinion, pair may move upwards to reach 0.8927 and then continue falling down towards 0.8820.

USD/JPY

Yen reached new maximum. We think, today price may return to 102.86 and then form another ascending structure to reach 104.10. If pair forms pivot point, market may reverse and start moving inside down trend.

AUD/USD

Australian Dollar reached another target of decline and right now is forming continuation pattern to continue falling down. We think, today price may completed this descending structure by reaching 0.8713 and then start new correction towards 0.9077.

GOLD

Gold broke level of 1238 and continues forming descending wave; right now, market is moving inside consolidation channel. Target of this decline is at 1195. After reaching it, instrument may start forming new ascending wave towards 1360.

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