Forex Technical Analysis 04.08.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)


Analysis for August 04th, 2014

EUR USD, “Euro vs US Dollar”

EURUSD is probably building ascending structure with 1.3450 as a target. In case this target is hit, I will look for possible correctional move to 1.3410. After that I will look for growth to resume with target of 1.3580

GBP USD, "British pound vs US Dollar"

GBPUSD is continuing to move inside descending channel. For today, I expect that 1.6776. After that, I will look for consolidation with reversal pattern and continuation of the uptrend.


USD CHF (“US Dollar vs Swiss Franc”)

USDCHF is continuing to move within declining wave with target of 0.9030. After that, I will look for price to return to 0.9070. In case it works, I will look for another descending structure with hitting 0.8960.


USD JPY «US Dollar vs Japanese Yen"

USDCHF continues to move within descending wave with target of 102.30. After that, I will watch for pullback to 102.70. In case it happens, I will expect another descending wave with 101.70 as a short-term target and 100.50 as an intermediate target.

AUD USD, "Australian dollar vs US dollar"

AUDUSD has performed growing impulse with correction. Scenario for today is possible ascending wave with 0.9374 as a target. After that. I expect price to get back to 0.9335. And, finally, I will expect to see another growing structure with 0.9400 as a target.

USD RUB (US dollar vs Russian rouble)

I view chart of Russian rouble as a declining structure with further breakout of 35.36. After that I will expect to see resumed downtrend with hitting 34.90. In case it happens, I will watch for test of 35.36 from below. And, finally, I expect to see descending impulse with 34.76 as a target.


XAU USD (“Gold vs US dollar”)

Gold had probably completed its correctional move to 1300. For today, I will expect decline to 1275. After that, I will watch for another possible correctional move to 1300. And, after that, I will expect development of another descending wave with 1255 as a target.

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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.