Forex Technical Analysis 11.02.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

February 11, 2014

EUR USD, “Euro vs US Dollar”

Euro is still forming ascending structure with target at level of 1.3700. We think, today price may reach this target and then start falling down towards level of 1.3640, at least. Later, in our opinion, instrument may continue moving upwards to break level of 1.3700. Next target of the growth is at 1.3900.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is also still moving inside ascending structure. We think, today price may reach level of 1.6500, fall down towards 1.6420, and then and then form another ascending structure to reach level of 1.6530.

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving downwards; market is forming continuation structure near level of 0.8975. We think, today pair fall down to reach level of 0.8880. Later, in our opinion, instrument may return to level of 0.8940 and then move downwards to reach level of 0.8878.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still growing up and forming continuation pattern. We think, today price may form ascending structure to break descending channel and start reach level of 102.90. Later, in our opinion, instrument may fall down to break level of 102.40 and start new ascending movement towards level of 104.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is forming divergent triangle pattern at the top of another ascending wave. We think, today price may fall down towards lower border of this trading range. This pattern may be considered as reversal pattern. Later, in our opinion, instrument may continue moving inside descending trend to reach level of 0.8800.

XAU USD, “Gold vs US Dollar”

Gold reached another target of its ascending movement. We think, today price may start correction towards level of 1230. This correction is expected to be five-wave structure in the form of bullish flag pattern. First target is at level of 1265.

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