Forex Technical Analysis 13.02.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

February 13, 2014

EUR USD, “Euro vs US Dollar”

Euro formed correction towards previous ascending wave and right now is forming ascending structure with target at level of 1.3700. Later, in our opinion, instrument may consolidate for a while and then continue moving upwards. Next target is at level of 1.3900.

GBP USD, “Great Britain Pound vs US Dollar”

Pound reached target of its ascending structure and right now is moving upwards. We think, today price may extend this structure towards level of 1.6680 and then form correctional structure to reach level of 1.6440. Later, in our opinion, instrument may form another ascending structure towards next target at level of 1.7000.

USD CHF, “US Dollar vs Swiss Franc”

Franc completed correctional ascending structure and right now is moving downwards. We think, today pair may reach level of 0.8888, return to level of 0.8950 and then form another descending structure to reach level of 0.8870.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating near broken descending channel. We think, today price may expand this consolidation downwards to reach level of 101.90 and then upwards, to 102.90. Later, in our opinion, instrument may fall down again towards level of 102.40 and then continue growing up to reach level of 104.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is forming descending structure towards level of 0.8888. Later, in our opinion, instrument may form new ascending structure towards level of 0.980 and then continue moving inside descending trend to reach level of 0.8400.

XAU USD, “Gold vs US Dollar”

Gold is still moving above level of 1283 and may continue growing up towards level of 1306. Alternative scenario implies that price may start descending correction to reach level of 1230 and only after that start new ascending movement towards level of 1360.

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