Weekly Analysis, March 17th – 21st, 2014
EUR USD, “Euro vs US Dollar”
At daily chart, Euro is still moving upwards with target at 1.4100; right now market is forming third ascending wave. We think, during this week, price may reach level of 1.3990 and then start consolidating. Alternative scenario implies that pair may form correction towards level of 1.3800. Later, in our opinion, instrument may continue growing up towards above-mentioned target.
GBP USD, “Great Britain Pound vs US Dollar”
At daily chart, Pound continues moving inside ascending structure towards level of 1.7730. We think, during this week, price may complete this correctional flag
pattern and then leave it upwards to reach target at level of 1.700. Later, in our opinion, instrument may form new correction to return to level of 1.6900 and then continue growing up towards next target at 1.7470.
USD CHF, “US Dollar vs Swiss Franc”
At daily chart, Francis still forming descending structure with target at 0.8300. Right now, market is moving below level of 0.8730 and forming continuation pattern.
USD JPY, “US Dollar vs Japanese Yen”
At daily chart, Yen couldn’t form ascending structure towards level of 104.00. Market continues falling down and may complete current correction by reaching level of 100.00. Later, in our opinion, instrument may form reversal pattern to start new ascending movement to reach level of 106.00.
AUD USD, “Australian Dollar vs US Dollar”
At daily chart, Australian Dollar completed right part of head & shoulders reversal pattern. We think, during this week, price may form another descending wave towards level of 0.8400; right now, market is forming the third structure inside this wave with target at 0.8900. After reaching it, instrument may consolidate for a while and then continue moving downwards.
USD RUB, “US Dollar vs Russian Ruble”
At daily chart, Ruble is still moving inside ascending wave. Main scenario implies that price may reach its next target at 37.50. Right now, market is forming another consolidation channel with top at level of 37.21. Later, in our opinion, instrument may fall down towards level of 36.54 and then start new ascending movement.
XAU USD, “Gold vs US Dollar”
At daily chart, Gold is still forming ascending structure towards level of 1490. By now, market has completed continuation pattern near level of 1336 and broken its consolidation channel upwards, which means that instrument may extend this wave towards above-mentioned target level.
RoboForex Analytical Department