Analysis for March 12th, 2014
EUR USD, “Euro vs US Dollar”
Euro is being corrected. We think, today price may reach level of 1.3820 and then form reversal pattern for new ascending movement towards level of 1.3990.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving downwards; market has formed continuation pattern near level of 1.6630. We think, today price may reach local level of 1.6470, return to level of 1.6630 to test it from below, and then form the fifth wave of this correction towards level of 1.6440. Later, in our opinion, instrument may continue growing up to reach level of 1.7000.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still consolidating; market hasn’t formed any reversal structures yet. We think, today price may continue falling down towards level of at 0.8730 and then form another consolidation channel to continue forming descending structure.
USD JPY, “US Dollar vs Japanese Yen”
Yen reached the second target of its ascending pattern. We think, today price may form reversal pattern to continue forming ascending structure towards level of 104.40.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar completed its first descending wave. We think, today price may reach level of 0.8930 and then return to level of 0.9030, thus forming head & shoulders reversal pattern with target at 0.8770. Later, in our opinion, instrument may continue falling down towards level of 0.8400.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues forming ascending structure. We think, today price may complete this wave, the fourth one, at level of 36.50 and then start forming the fifth wave with target at level of 35.60. Later, in our opinion, instrument may form reversal structure and continue growing up to reach level of 37.60.
XAU USD, “Gold vs US Dollar”
Gold has broken its consolidation channel upwards; this pattern may be considered as continuation one near level of 1336. Target of this pattern is at level of 1490. Instrument is going to form new correction.
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