Forex Technical Analysis 03.03.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

March 3, 2014

EUR USD, “Euro vs US Dollar”

Euro is moving downwards. We think, today price may form consolidation channel near level 1.3788, break it upwards, and then continue moving upwards to reach target at level of 1.3900.

GBP USD, “Great Britain Pound vs US Dollar”

After making ascending movement last Friday, Pound started forming consolidation channel. We think, today price may leave this channel upwards to reach level of 1.7000. Later, in our opinion, instrument may form another consolidation channel, break it upwards again, and then continue growing up.

USD CHF, “US Dollar vs Swiss Franc”

Franc is forming descending structure; market is moving below diamond pattern. We think, today price may move downwards to reach level of 0.8730, form consolidation channel, break it downwards, and then continue falling down towards level of 0.8300.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still forming descending structure; today market was opened with gap down. We think, today price may return towards level of 101.70 to eliminate the gaps and then continue falling down to reach level of 100.00.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is forming consolidation channel and about to start new descending structure to break level of 0.8900. Later, in our opinion, instrument may move downwards to reach level of 0.8780.

XAU USD, “Gold vs US Dollar”

Market was opened with gap; Gold is trying to continue its ascending movement. We think, today price may form double top pattern and then start new correctional structure towards level of 1285. Later, in our opinion, instrument may start new ascending movement to reach level of 1360 (at least).

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