Analysis for July 30th, 2014
EURUSD, “Euro vs US Dollar”
Pair is still moving in the descending channel, extending descending structure. Price formed spiral wave without any considerable corrections. Price is expected to return back to level of 1.3525. Then, one more descending structure may be formed towards level of 1.3340.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound broke consolidation downwards. Price may reach level of 1.6925 and, then, rebound to level of 1.7080. After it, new minimums may be reached.
USDCHF, “US Dollar vs Swiss Franc”
Pair continues ascending movement. Price tests the middle of the downtrend pattern. Price may start falling down at any level. The first target, in our opinion, is level of 0.8985.
USDJPY, “US Dollar vs Japanese Yen”
Yen continues ascending movement towards level of 102.50, then, it may return back to level of 101.70. After it, we expect the formation of new ascending structure. Price may reach new maximum. We think price may try to test the upper triangle border.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is still moving inside descending structure as correction. Today descending wave may be formed towards level of 0.9362. After it, we expect new ascending wave towards level of 0.9510.
USDRUB, “US Dollar vs Russian Ruble”
Ruble reached the target of the third wave. Descending structure may be formed towards level of 34.60. However, price may try to reach level of 35.85 and, thus, complete the ascending structure. After completing the ascending structure, price may return, in our opinion, back to level of 33.20.
XAUUSD, “Gold vs US Dollar”
Gold continues its descending movement. We expect consolidation with breakout to the downside. The target is level of 1275.
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