Analysis for August 14th, 2014
EURUSD, “Euro vs US Dollar”
Euro is still moving inside a consolidation channel; the market is forming triangle pattern. We think, today the price may form another ascending structure to reach level of 1.3422; however, the pair may extend this wave towards 1.3450. Later, in our opinion, the instrument may form another descending structure towards level of 1.3380 and then start moving upwards inside the uptrend.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound expanded its consolidation channel upwards and then broke the minimum. We think, today the price may reach level of 1.6668. Later, in our opinion, the instrument may try to move downwards and then form a reversal pattern to continue moving inside the uptrend. The main target is at level of 1.7730.
USDCHF, “US Dollar vs Swiss Franc”
Franc is still consolidating near the top. We think, today the price may form another descending structure to reach level of 0.9030; however, the pair may extend this wave towards 0.9000. Later, in our opinion, the instrument may return to level of 0.9065 and then continue moving inside the downtrend.
USDJPY, “US Dollar vs Japanese Yen”
Yen is still being corrected. We think, today the price may move upwards to reach level of 102.65 (at most). After reaching it, the pair may start forming another descending structure within the downtrend with the target at level of 99.30.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is moving back towards level of 0.9336; the market is forming a correction towards the previous descending wave. After reaching it, the pair may start forming another descending structure towards level of 0.9222. Later, in our opinion, the instrument may start growing to reach the target at level of 0.9510.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is falling. We think, today the price may reach level of 35.67 and then move upwards to return to level of 36.10. After that, the instrument may start forming another descending wave to reach level of 35.60.
XAUUSD, “Gold vs US Dollar”
Gold is still consolidating; the market is falling to break level of 1300 downwards. We think, today the price may form a descending wave to reach level of 1275 and then return to level of 1300 again. Later, in our opinion, the instrument may start falling towards level of 1255.
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