Forex Technical Analysis 21.02.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

February 21, 2014

EUR USD, “Euro vs US Dollar”

Euro is still being corrected. We think, today price may form another ascending structure and then fall down towards level of 1.3676. 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 under pressure and still moving downwards to reach level of 1.6580. Later, in our opinion, instrument may form reversal structure and continue growing up towards level of 1.7000.

USD CHF, “US Dollar vs Swiss Franc”

Franc is returning towards level of 0.8920. Later, in our opinion, instrument may form descending structure towards target at level of 0.8730.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still moving according to main scenario and forming ascending structure of current correction with target at level of 104.00. Target of the third wave is at 103.40. Later, in our opinion, instrument may form the fourth wave at level of 102.40 and then complete this correction by forming the fifth wave at level of 104.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar returned to level of 0.9015. We think, today price may form another ascending structure towards level of 0.9025 and then continue moving inside descending trend to reach level of 0.8700.

XAU USD, “Gold vs US Dollar”

Gold is still 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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