Analysis for August 18th, 2014
EUR USD, “Euro vs US Dollar”
Euro is still moving inside a consolidation channel. We think, today the price may break level of 1.3410 upwards and then continue growing to reach level of 1.3440. Later, in our opinion, the instrument may form another consolidation channel to break this level as well and then continue moving upwards to reach level of 1.3475. The target of this whole structure is at level of 1.3500. After that, the market may fall towards 1.3440 and then start moving upwards inside the uptrend.
GBP USD, “Great Britain Pound vs US Dollar”
The market was opened with a gap up; Pound is still forming an ascending structure. We think, today the price may reach level of 1.6770 and then form a descending correction towards 1.6700. Later, in our opinion, the instrument may continue moving upwards to reach level of 1.6882.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still forming a descending structure towards level of 0.9015. After reaching it, the market may form another ascending structure to return to level of 0.9060. Later, in our opinion, the instrument may continue moving inside the downtrend towards level of 0.9000.
USD JPY, “US Dollar vs Japanese Yen”
Yen broke its correctional channel downwards. We think, today the price may continue forming a descending structure to break level of 101.70 and then break level of 100.50. After reaching it, the pair may form a correction towards level of 101.70 to test it from below and then another descending movement with the target at level of 99.30.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still forming an ascending structure to reach level of 0.9340. After reaching it, the pair may fall towards level of 0.9290 and then continue moving inside the uptrend. Alternative scenario implies that the market may break the minimum. In this case, the instrument may continue falling down to reach level of 0.9150.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still falling. We think, today the price may form a descending wave to reach level of 35.17 and then return to level of 35.85. After that, the instrument may start forming another descending wave.
XAU USD, “Gold vs US Dollar”
Gold is under pressure and continues falling. We think, today the price may move downwards to reach level of 1288 and then return to level of 1303. Later, in our opinion, the instrument may start falling towards level of 1283.
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