Forex Technical Analysis 19.02.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

February 19, 2014

EUR USD, “Euro vs US Dollar”

Euro is still moving upwards. We think, today price may continue growing up towards level of 1.3900. Later, in our opinion, instrument may start new correction towards level of 1.3700 and then growing up to reach target at 1.4100.

GBP USD, “Great Britain Pound vs US Dollar”

Although Pound is moving downwards a bit right now, we think today it may continue moving upwards to reach target at level of 1.7000. Instrument may reach level of 1.6580 and then form another ascending structure towards above-mentioned target.

USD CHF, “US Dollar vs Swiss Franc”

Franc broke its consolidation channel downwards and right now is falling down. We think, today pair may continue moving downwards and forming descending wave towards level of 0.8300.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating. We think, today price may continue growing up to reach level of 104.00 and then start new descending structure towards level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is moving downwards. We think, today price may reach level of 0.9100 and then form reversal structure to continue moving inside descending trend to reach level of 0.8400.

XAU USD, “Gold vs US Dollar”

Gold is forming consolidation channel towards level of 1330. We think, today price may expand this channel downwards to reach level of 1298 and then upwards to reach level of 1330. Later, in our opinion, instrument may form reversal structure to start the fourth wave of this correction towards level of 1285 and then form another ascending structure to reach level of 1360.

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