Forex Technical Analysis 22.08.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

22.08.2014

Analysis for August 22nd, 2014

EUR USD, “Euro vs US Dollar”

Euro started forming a new structure to return to level of 1.3315. After reaching it, the market may form another descending movement to reach new lows. Later, in our opinion, the pair may consolidate for a while, form a reversal pattern, and then continue moving inside the uptrend.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is still consolidating near its lows. We think, today the price may expands this consolidation channel towards level of 1.6650. Later, in our opinion, the pair may form another descending structure towards level of 1.6460 and then start another ascending wave.




USD CHF, “US Dollar vs Swiss Franc”

Franc is forming a descending structure with the target at 0.9087. After reaching it, the price may complete this ascending wave by growing towards level of 0.9150. Later, in our opinion, the pair may consolidate for a while, form a reversal pattern, and then continue moving inside the downtrend.




USD JPY, “US Dollar vs Japanese Yen”

Yen formed double top on the fifth ascending wave. We think, today the price may fall to break this trading range downwards. The market is expected to form another descending wave with the target at 101.70.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still being corrected towards the previous descending wave. We think, today the price may form another descending wave to break minimums and reach the target at level of 0.9150.




USD RUB, “US Dollar vs Russian Ruble”

Ruble is forming a descending structure. We think, today the price may fall towards level of 35.77, form a consolidation channel, and then break it downwards. The target is at 35.20. Later, in our opinion, the pair may return to level of 35.75 and then continue falling.




XAU USD, “Gold vs US Dollar”

Gold completed another descending structure. We think, today the price may return to level of 1290. Later, in our opinion, the instrument may start forming another descending structure towards level of 1260.



 
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.

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