Forex Technical Analysis 14.05.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

14.05.2014

Analysis for May 14th, 2014

EUR USD, “Euro vs US Dollar”

Euro expanded its consolidation channel downwards. We think, today price may expand its upwards as well and reach next target at level of 1.3846. Later, in our opinion, instrument may form continue falling down to reach target at level of 1.3700. Pair may form consolidation channel in the form of triangle pattern.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is forming the third descending wave; market completed its first part and right now is correcting it towards level of 1.6858. After reaching it, pair may start another descending structure to break level of 1.6825 and then expand this trading range towards level of 1.6790. Later, in our opinion, instrument may return to level of 1.6825 to test it from below and then continue moving downwards to reach local target level of 1.6750.




USD CHF, “US Dollar vs Swiss Franc”

Franc expanded its consolidation channel upwards. We think, today price may expand this consolidation channel downwards as well and reach level of 0.8806. Later, in our opinion, instrument may form another consolidation channel in the form of triangle pattern and continue moving upwards to reach level of 0.8955.




USD JPY, “US Dollar vs Japanese Yen”

Yen is still moving downwards; market is forming another structure with target at level of 101.37. Later, in our opinion, instrument may return to level of 101.80 and then continue falling down towards level of 100.00.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is trying to stay at current maximums. We think, today price may reach level of 0.9415 and then continue moving inside descending trend towards target at level of 0.9200.




USD RUB, “US Dollar vs Russian Ruble”

Ruble is still forming the fifth descending wave, which may be extended up to level of 34.46. We think, today price may reach level of 34.70 and then continue growing up towards level of 35.40.




XAU USD, “Gold vs US Dollar”

Gold is forming the fifth ascending structure. We think, today price may continue growing up to reach target at level of 1321. Later, in our opinion, price may form new correction to return to level of 1295.



 
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.

Ask a question

Need any help? Click on the icon in the lower right corner of the page and get an answer to any your questions

Or enter your phone number in the form below and we will call you right away.

Call back
Ask a question