Forex Technical Analysis 20.02.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

February 20, 2014

EUR USD, “Euro vs US Dollar”

Euro is still consolidating. We think, today price may grow up towards level of 1.3815 and then fall down to test level of 1.3760 from above. 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 still consolidating near broken channel. Such market behavior implies that price may form another descending structure towards level of 1.6580. However, main scenario suggests that instrument may continue growing up towards level of 1.7000.

USD CHF, “US Dollar vs Swiss Franc”

Franc continues moving downwards and right now is forming another consolidation channel. After that, price may continue falling down. Main target is at level of 0.8300; level of 0.8730 may be a strong resistance level.

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. Alternative scenario implies that pair may break level of 101.40 and then continue falling down towards level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is moving downwards; market completed descending wave with extension. We think, today price may form correction towards level of 0.9015 and then start forming another descending structure to reach level of 0.8780. Alternative scenario implies that pair may reach level of 0.9100 and then continue moving inside descending trend to reach level of 0.8400.

XAU USD, “Gold vs US Dollar”

Gold is forming consolidation channel near level of 1316. We think, today price may grow up and reach level of 1330. Later, in our opinion, instrument may form new correction towards level of 1285 and then form the fifth ascending wave to reach level of 1360.

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