Forex Analysis: EUR/USD May Reach 1.3700
RoboForex | Feb 10, 2014 09:38AM ET
EUR/USD
The euro is still forming ascending structure. We think, today the price may grow up to reach level of 1.3700, consolidate for a while, and then continue moving upwards to reach main target at level of 1.4100.
GBP/USD
The pound is also still moving inside ascending structure. We think, today the price may continue growing up to reach level of 1.6500, consolidate for a while, and then and then continue growing up towards target at 1.6680.
USD/CHF
The Swiss franc is still forming consolidation channel, which may be considered as continuation structure of down‑trend. We think, today the pair may fall down to reach level of 0.8900. Later, in our opinion, instrument may consolidate for a while and then continue moving downwards towards main target at level of 0.8300.
USD/JPY
The yen is growing up. We think, today the price may break descending channel and start forming consolidation channel as continuation structure of up-trend. Target of this correction is at level of 104.00.
AUD/USD
The Australian dollar is still consolidating. We think, today the price may break this consolidation channel downwards to continue falling down and reach level of 0.8840. Later, in our opinion, instrument may form another consolidation channel, break it downwards as well, and continue moving downwards to reach level of 0.8400.
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XAU/USD
Gold is still moving inside ascending structure; market is under pressure. We think, today the price may reach level of 1280. We should note, that current correction may yet continue and price may form another descending structure towards level of 1230. Later, in our opinion, instrument may start new ascending movement to reach level of 1360.
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