Forex Technical Analysis 22.01.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

January 22, 2014

EUR/USD

Euro continues growing up. We think, today price may return to level of 1.3600 and then fall down towards 1.3550. Later, in our opinion, pair may start forming another ascending structure to reach target at 1.3700.

GBP/USD

Pound is still moving inside the fourth wave of bullish wedge pattern. We think, today price may reach level of 1.6500 and then start new descending movement towards level of 1.6255. Later, in our opinion, pair may form reversal structure to continue ascending trend.

USD/CHF

Franc is still forming head & shoulders reversal pattern. We think, today pair may break ascending channel, fall down to reach level of 0.9000, and then return to 0.9080.  Later, in our opinion, pair may continue moving inside descending trend to break minimums and reach level of 0.8300.

USD/JPY

Yen is still falling down. We think, today price may continue moving downwards to reach level of 103.80. Later, in our opinion, pair may form consolidation channel, break it downwards, and continue falling down towards target at 102.75.

AUD/USD

Australian Dollar is moving towards level of 0.8900; this movement may be considered as correction. After reaching it, pair start forming another descending structure to reach main target at level of 0.8400.

GOLD

Gold is still consolidating inside the fifth ascending wave. We think, today price may break this consolidation channel upwards and continue growing up towards level of 1277. Later, after reaching this level, instrument may start new descending movement towards target at 1230.

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