Analysis for August 25th, 2014
EUR USD, “Euro vs US Dollar”
The market was opened with a gap down and Euro expanded its trading range downwards. The rebound has no potential for growth again. We think, today the price may continue falling to reach new lows. Later, in our opinion, the pair may consolidate for a while and then form another ascending impulse to return to level of 1.3300.
GBP USD, “Great Britain Pound vs US Dollar”
The market was opened with a gap down and Pound expanded its consolidation channel downwards. We think, today the price may return to level of 1.6600. Later, in our opinion, the pair may form another descending structure towards level of 1.6460, then start consolidating and form a new reversal pattern.
USD CHF, “US Dollar vs Swiss Franc”
The market was opened with a gap up. The current descending impulse has no potential to continue. We think, today the price may reach a new high, then form a consolidation channel, and a reversal pattern. Later, in our opinion, the pair may continue moving inside the downtrend.
USD JPY, “US Dollar vs Japanese Yen”
Yen expanded its consolidation channel upwards. We think, today the price may reach level of 104.36 and then form another descending structure with the target at 102.60.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving inside its consolidation channel. If the price breaks it upwards, the market will continue forming an ascending wave with the target at 0.9510. If the price breaks it downwards (an alternative scenario), the current correction will continue towards level of 0.9150.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still consolidating near the top of the wave. We think, today the price may fall to break the minimum and expand this consolidation channel downwards. The target is at level of 34.70.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating. We think, today the price may break this consolidation channel and expand it downwards to reach level of 1260. Later, in our opinion, the instrument may return to level of 1300 and then start falling again towards level of 1208.
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