Forex Technical Analysis 21.05.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
21.05.2014
Analysis for May 21st, 2014
EUR USD, “Euro vs US Dollar”
Euro is still consolidating. We think, today price may move upwards to reach level of 1.3820. Alternative scenario implies that pair may continue falling down to reach level of 1.3580 and complete this descending wave. Later, in our opinion, instrument may start new ascending movement.
GBP USD, “Great Britain Pound vs US Dollar”
Pound tried to leave its consolidation channel upwards but then returned to current levels. We think, today price may continue forming the fifth descending structure towards level of 1.6655. Later, in our opinion, instrument may continue forming ascending wave with target at level of 1.7730.
USD CHF, “US Dollar vs Swiss Franc”
Franc broke its correctional channel downwards. We think, today price may continue falling down towards level of 0.8820. Later, in our opinion, instrument may consolidate for a while and then continue falling down to reach target at level of 0.8700.
USD JPY, “US Dollar vs Japanese Yen”
Yen is moving downwards. We think, today price may reach level of 101.00 and then return to level of 101.70. Later, in our opinion, instrument may continue falling down towards level of 100.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still forming descending wave. We think, today price may reach level of 0.9200. Later, in our opinion, instrument may consolidate for a while and then continue falling down inside this descending wave.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is consolidating near its minimums. We think, today price may continue consolidating and then form reversal structure to start new ascending wave. Main target is at level of 37.50.
XAU USD, “Gold vs US Dollar”
Gold is still forming ascending wave. We think, today price may continue growing up towards level of 1321. After reaching it, price may continue consolidating channel and form continuation pattern. Main target of this ascending movement is at level of 1435.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.