Forex Technical Analysis 14.08.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

August 14, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has formed two descending impulses and the correction, and right now is forming a consolidation channel on the top of this correction. We think, today, the price may continue falling towards 1.0922. An alternative scenario implies that the market may reach a new top at 1.1240 and then continue falling inside the downtrend.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has formed only two descending impulses. We think, today, the price may form the third one to reach 1.5532, thus forming a new consolidation channel. If the market breaks this channel downwards, it may continue falling inside the downtrend towards 1.5240; if upwards (an alternative scenario) – grow to reach 1.5688.

USD CHF, “US Dollar vs Swiss Franc”

Franc has been able to form only two ascending impulses and right now is consolidating. If the market breaks this channel upwards, it may continue growing inside the uptrend towards 1.0000; if downwards – the correction may continue to reach 0.9620.

USD JPY, “US Dollar vs Japanese Yen”

Yen has formed two ascending impulses and right now is also consolidating. If the market breaks this consolidation channel downwards (an alternative scenario), it may continue the current correction towards 123.00; if upwards (the main scenario) – grow to reach the target at 125.45.

AUD USD, “Australian Dollar vs US Dollar”

After forming an ascending impulse, Australian Dollar is consolidating. If the market breaks this channel upwards, it may reach 0.7450; if downwards – fall towards 0.7200.

XAU USD, “Gold vs US Dollar”

Gold has left its ascending channel. The main scenario implies that the correction may continue towards 1106. After reaching it, the price may grow towards 1131 and then fall again to reach 1105. This trading range may be considered as a consolidation channel. If the market breaks this channel downwards, it may continue falling inside the downtrend towards 830 if upwards – the correction may continue up to 1161 and then towards 1250.

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