Forex Technical Analysis 04.11.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

04.11.2014

Analysis for November 4th, 2014

EUR USD, “Euro vs US Dollar”

Euro is forming a structure to return to level of 1.2540. We think, today the price may reach it and then fall towards the lower border of this consolidation channel, which may be considered as either a downside continuation pattern or a reversal one. In case the pair breaks it upwards, the market will return to level of 1.2725. If downwards – the price may fall to reach level of 1.2311.




GBP USD, “Great Britain Pound vs US Dollar”

Pound is forming an ascending structure towards the upper border of its consolidation channel. If the price breaks it upwards, it may return to level of 1.6115. However, if the pair breaks it downwards, the market may fall and reach level of 1.5770.




USD CHF, “US Dollar vs Swiss Franc”

Franc is still forming a descending structure towards level of 0.9600. We think, today the price may reach it and then expand this trading range towards level of 0.9700.  Later, in our opinion, the market resume falling towards the center of the range. If the pair continues growing and breaks this consolidation channel upwards, the market may reach level of 0.9800. However, if the pair falls and breaks it downwards, the price may reach level of 0.9385.




USD JPY, “US Dollar vs Japanese Yen”

Yen is moving downwards. We think, today the price may reach level of 112.95 and then form a consolidation channel and a reversal pattern. Later, in our opinion, the market may break this channel downwards and continue falling towards level of 111.70.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still forming a structure to return to level of 0.8750. We think, today the price may reach it and then form another descending structure with the target at level of 0.8590. Later, in our opinion, the market may return to level of 0.8750.




USD RUB, “US Dollar vs Russian Ruble”

Ruble is still moving near the top of its ascending wave. We think, today the price may form a consolidation range. If the pair breaks it upwards, it may continue growing to reach level of 44.73; if downwards – fall towards level of 42.06.




XAU USD, “Gold vs US Dollar”

Gold is “stuck” inside a narrow consolidation triangle pattern. If the price breaks the pattern upwards, it may return to level of 1183; if downwards – reach level of 1149. Later, in our opinion, the market may start a higher correction.



 
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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