Analysis for July 3rd, 2015
EURUSD, “Euro vs US Dollar”
After returning to level of 1.1100, Eurodollar has started consolidating inside a narrow channel. We think, today, the price may continue forming its descending wave with the target at level of 1.0930. After that, the pair may return to level of 1.1180.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is forming another consolidation channel. We think, today, the price may continue falling to reach level of 1.5506. Later, in our opinion, the market may form a correction to return to level of 1.5715.
USD CHF, “US Dollar vs Swiss Franc”
Franc is forming a descending structure with the target at level of 0.9350. After reaching it, the price may reach new highs at level of 0.9545. Later, in our opinion, the market may continue falling to return to level of 0.9350.
USDJPY, “US Dollar vs Japanese Yen”
Yen is forming a descending impulse. We think, today, the price may continue this impulse to break level of 122.22 and then fall towards level of 121.30. Later, in our opinion, the market may grow to return to level of 122.22 and then form another descending structure to reach level of 120.20.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has completed another descending wave. We think, today, the price may return to level of 0.7672 to test it from below and then continue falling to reach level of 0.7500.
USDRUB, “US Dollar vs Russian Ruble”
Ruble is consolidating below level of 55.50. We think, today, the price may grow to break the channel upwards and then form another consolidation channel. The pair is expected to form an upside continuation pattern. After that, the pair may break this channel upwards as well and reach level of 58.50. Later, in our opinion, the market may start falling towards level of 52.50.
XAUUSD, “Gold vs US Dollar”
Gold has completed another descending structure. We think, today, the price may test level of 1173 from below and then continue falling towards level of 1140. After reaching it, the market may return to level of 1173 and then continue falling towards level of 1113.
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