Forex Technical Analysis 12.02.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

February 12, 2014

EUR USD, “Euro vs US Dollar”

Euro is still forming ascending structure. We think, today price may reach level of 1.3700 and then start falling down towards level of 1.3640. Later, in our opinion, instrument may continue moving upwards to reach level of 1.3900.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is also still moving inside ascending structure with target at 1.6530. After reaching it, price may fall down to return to 1.6440, and then and then form another ascending structure to reach level of 1.6555.

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving downwards; market is forming continuation structure. We think, today pair fall down to reach level of 0.8888. Later, in our opinion, instrument may return to level of 0.8940 and then form another descending structure to reach level of 0.8870.

USD JPY, “US Dollar vs Japanese Yen”

Yen broke descending channel and right now is forming continuation pattern for another ascending movement. We think, today price may move upwards to reach level of 104.00 and then start falling down again.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is forming ascending structure towards level of 0.9077. Later, in our opinion, instrument may form new correction towards level of 0.8885 and then start another ascending structure to reach level of 0.9105.

XAU USD, “Gold vs US Dollar”

Gold continues moving upwards. We think, today price may extend the fifth ascending wave by forming continuation pattern with target at level of 1300. We should note, that instrument may stop this ascending movement at any moment and start new descending correction towards level of 1230.

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