Forex Technical Analysis 07.02.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

February 7, 2014

EUR USD, “Euro vs US Dollar”

Euro broke its consolidation channel upwards and right now continues growing up. We think, today price may reach level of 1.3650, form new correction towards 1.3600, and then move upwards again to reach level of 1.3660.

GBP USD, “Great Britain Pound vs US Dollar”

Pound also broke its consolidation channel upwards. We think, today price may form ascending structure towards level of 1.6385, fall down to reach 1.6344, and then and then continue growing up towards target at 1.6400.

USD CHF, “US Dollar vs Swiss Franc”

Franc broke its consolidation downwards and right now is falling down with target at 0.8940. We think, today pair reach this target and then return to level of 0.9000. Later, in our opinion, instrument may continue moving downwards to reach level of 0.8300.

USD JPY, “US Dollar vs Japanese Yen”

Yen broke its consolidation channel upwards and right now is growing up. We think, today price may reach level of 103.50 and then fall down towards level of 102.00. Later, in our opinion, instrument may start forming new ascending structure to reach level of 104.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still consolidating. We think, today price may fall down to reach level of 0.8908 and then grow up towards level of 0.9000. Later, in our opinion, instrument may start moving downwards to reach target at 0.8820.

XAU USD, “Gold vs US Dollar”

Gold is also consolidating. We think, today price may continue forming descending correction and reach level of 1240. Later, in our opinion, instrument may return to level of 1250 and then move downwards again to reach level of 1230.

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