Forex Technical Analysis 05.02.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

February 5, 2014

EUR USD, “Euro vs US Dollar”

Euro is still consolidating; market has broken descending channel. We think, today price may continue moving upwards to reach level of 1.3580 and then fall down to return to level of 1.3540.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is forming ascending structure. We think, today price may break descending channel and reach level of 1.6420. Later, in our opinion, instrument may fall down to return to level of 1.6340 and then continue growing up towards target at level of 1.6680.

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving inside ascending channel so far. We think, today pair break ascending channel and continue falling down towards level of 0.8930. Later, in our opinion, instrument may return to level of 0.9000 and then continue moving inside descending trend towards level of 0.8300.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still moving inside the fifth descending wave. We think, today price may reach another minimum and then start forming new ascending structure to return to level of 104.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar completed its correctional structure. We think, today price may form descending structure to reach level of 0.8780 and then start new ascending movement towards level of 0.8840. Later, in our opinion, instrument may continue moving inside descending trend to reach level of 0.8400.

XAU USD, “Gold vs US Dollar”

Gold is still forming the fifth wave of this correction. We think, today price may fall down and reach target at level of 1230. Later, in our opinion, instrument may form reversal pattern and start forming the third ascending wave towards level of 1360.

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