EUR/USD:
Our preference: Bearish setups within 1.3510 - 1.3555 with targets @ 1.3478 & 1.3430 in extension.
Alternative scenario: Above 1.3555, watch for bullish setups with 1.3605 as target and 1.3684 in extension.
Comment: EUR/USD remains in consolidation mode. 20 MA and 50 MA are flat on hourly chart.
AUD/USD:
Our preference: Bullish setups on a pull-back move to within 0.8835 - 0.8880 with targets @ 0.8940 & 0.8890 in extension.
Alternative scenario: Below 0.8835, watch for bearish setups with 0.8779 as target and 0.8729 in extension.
Comment: Correction occurs on AUD/USD. Note that hourly stochastic has crossed up.
GBP/USD:
Our preference: Bearish setups on a pull-back move to within 1.6350 - 1.6410 with targets @ 1.6318 & 1.6256 in extension.
Alternative scenario: Above 1.6410, watch for bullish setups with 1.6456 as target and 1.6518 in extension.
Comment: GBP/USD is approaching the confluence zone. Hourly stochastic and RSI are overbought. Watch the level of 1.6387 (50% Fibonacci).
EUR/JPY:
Our preference: Bearish setups within 136.90 - 137.50 with targets @ 136.35 & 135.90 in extension.
Alternative scenario: Above 137.50, watch for bullish setups with 137.80 as target and 138.24 in extension.
Comment: EUR/JPY has pulled back into the confluence zone. Note that hourly stochastic has crossed up.
GOLD:
Our preference: Bullish setups within 1247.75 - 1255.30 with targets @ 1259.54 & 1266.20 in extension.
Alternative scenario: Below 1247.75, watch for bearish setups with 1244.64 as target and 1237.98 in extension.
Comment: Gold price has pulled back into the confluence zone. Note that hourly stochastic is falling
Wednesday, February 5, 2014
Thursday, January 30, 2014
Technical Analysis: GBP/USD Pair May Move Downwards To 1.6510
EUR/USD
The euro is still moving inside descending correction. We think, today price may form ascending structure to reach level of 1.3800. Alternative scenario implies that pair may continue moving downwards to reach level of 1.3600 and then start new ascending movement towards main target at level of 1.4100.
GBP/USD
The pound is still being corrected. We think, today price may leave this correctional channel to reach target at level of 1.6680. Alternative scenario implies that pair may move downwards to reach level of 1.6510, and only after that start new ascending correction to reach above-mentioned target.
USD/CHF
The swiss franc is still moving near its current minimums. We think, today price may form consolidation pattern and reach new minimum. Later, in our opinion, market may return to level of 0.8950 and then continue falling down towards main target at 0.8300.
USD/JPY
The yen is still forming the fifth descending wave. We think, today price may reach level of 101.70 and then form new ascending structure towards level of 103.80. Later, in our opinion, market may continue this correction to reach level of 100.00.
AUD/USD
The Australian dollar is forming another descending structure towards target at level of 0.8400. Later, in our opinion, market may start new ascending movement to return to level of 0.9070.
GOLD
Gold completed its correction. We think, today price may form another descending structure to break level of 1254. Later, in our opinion, market may consolidate for a while and then form continuation pattern to continue falling down and reach local target at 1239. After that, instrument may return to level of 1250.
The euro is still moving inside descending correction. We think, today price may form ascending structure to reach level of 1.3800. Alternative scenario implies that pair may continue moving downwards to reach level of 1.3600 and then start new ascending movement towards main target at level of 1.4100.
GBP/USD
The pound is still being corrected. We think, today price may leave this correctional channel to reach target at level of 1.6680. Alternative scenario implies that pair may move downwards to reach level of 1.6510, and only after that start new ascending correction to reach above-mentioned target.
USD/CHF
The swiss franc is still moving near its current minimums. We think, today price may form consolidation pattern and reach new minimum. Later, in our opinion, market may return to level of 0.8950 and then continue falling down towards main target at 0.8300.
USD/JPY
The yen is still forming the fifth descending wave. We think, today price may reach level of 101.70 and then form new ascending structure towards level of 103.80. Later, in our opinion, market may continue this correction to reach level of 100.00.
AUD/USD
The Australian dollar is forming another descending structure towards target at level of 0.8400. Later, in our opinion, market may start new ascending movement to return to level of 0.9070.
GOLD
Gold completed its correction. We think, today price may form another descending structure to break level of 1254. Later, in our opinion, market may consolidate for a while and then form continuation pattern to continue falling down and reach local target at 1239. After that, instrument may return to level of 1250.
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