Forex Technical Analysis 06.02.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

February 6, 2014

EUR USD, “Euro vs US Dollar”

Euro is still consolidating; market has broken descending channel. We think, today price may form another ascending structure to break this consolidation channel upwards. Target of this ascending movement is at level of 1.3700.

GBP USD, “Great Britain Pound vs US Dollar”

After reaching new minimum, Pound is consolidating. We think, today price may form ascending structure to break this consolidation channel upwards and then continue growing up towards target at level of 1.6680.

USD CHF, “US Dollar vs Swiss Franc”

Franc broke its ascending channel downwards and right now is consolidating. We think, today pair fall down to break this consolidation channel downwards and continue moving downwards to reach level of 0.8930.

USD JPY, “US Dollar vs Japanese Yen”

Yen broke its descending channel and right now is consolidating. We think, today price may reach grow up towards level of 101.90 and then fall down to reach level of 101.40. Later, in our opinion, instrument may start forming new ascending structure to return to level of 103.40.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is forming ascending structure. We think, today price may fall down to reach level of 0.8820 and then continue moving inside descending trend towards level of 0.8400.
 

XAU USD, “Gold vs US Dollar”

Gold formed another ascending structure. We think, today price may fall down to return to level of 1240 and then start moving upwards towards level of 1255. Later, in our opinion, instrument may move downwards to reach level of 1230.

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