Analysis for July 28th, 2014
EUR USD, “Euro vs US Dollar”
Pair continues consolidation at current maximums. In our opinion, the basic scenario for this currency pair is the forming of ascending structure towards level of 1.3510. Then, price may start falling down and reach level of 1.3470. After reaching it, another ascending structure may be formed and price may reach level of 1.3590.
GBP USD, “Great Britain Pound vs US Dollar”
Pound continues its consolidation process. The basic scenario, in our opinion, is that price will be moving upwards inside ascending wave with target at level of 1.7500.
USD CHF, “US Dollar vs Swiss Franc”
Pair continues consolidation near its maximums. Today descending structure may be formed and price may reach level of 0.9000. Then, as we think, price may resume moving upwards towards level of 0.9030. After reaching it, price may resume descending movement towards level of 0.8955.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still consolidating inside the trading range. The basic scenario for today is that price may start descending movement with the target at level of 100.50.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving inside descending structure as correction. The ascending wave is forming and price may try to reach level of 0.9510. As an alternative scenario, in our opinion, price may start falling down towards level of 0.9370. After it, we expect the ascending wave again.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still moving in the ascending channel. We believe the third correction wave is possible. The main target of the wave is level of 35.45. Then, price may reach level of 34.60. After it, we expect one more ascending wave with price moving upwards towards level of 35.60. When price reaches this level, the fourth correction wave will be completed. Then, price may start descending movement again and reach level of 33.20.
XAU USD, “Gold vs US Dollar”
Gold continues its recovery pattern. We expect price may try to reach level of 1311. Then, descending wave may be formed and level of 1290 may be broken. We expect the third descending wave. The target is level of 1275.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD holds below 1.0750 ahead of key US data
EUR/USD trades in a tight range below 1.0750 in the European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
GBP/USD consolidates above 1.2500, eyes on US PCE data
GBP/USD fluctuates at around 1.2500 in the European session on Friday following the three-day rebound. The PCE inflation data for March will be watched closely by market participants later in the day.
Gold clings to modest daily gains at around $2,350
Gold stays in positive territory at around $2,350 after closing in positive territory on Thursday. The benchmark 10-year US Treasury bond yield edges lower ahead of US PCE Price Index data, allowing XAU/USD to stretch higher.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.