Analysis for July 7th, 2015
EUR USD, “Euro vs US Dollar”
After making several attempts to rebound, Eurodollar is consolidating. We think, today, the price may fall towards level of 1.0930. After that, the pair may return to level of 1.1182.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is trying to return to level of 1.5647. After that, the price may fall towards level of 1.5500 and then grow to return to level of 1.5717.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving inside an ascending wave towards level of 0.9483, thus forming the borders of another consolidation channel. If the market breaks the channel upwards, it may reach level of 0.9545; if downwards – fall towards level of 0.9360.
USD JPY, “US Dollar vs Japanese Yen”
Yen is moving inside a descending wave with the target at level of 121.66. We think, today, the price may form the part of this wave to return to level of 123.24 and then continue falling towards the above-mentioned target. This structure may be considered as the half of the third descending wave.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has formed only an ascending impulse. We think, today, the price may form another ascending impulse, the third one. After forming it, the market is expected to start a correction, thus forming a consolidation channel. If the pair breaks it upwards, it may continue growing to return to level of 0.7676.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still forming an ascending structure towards level of 58.50. We think, today, the price may reach this target and start consolidating with a reversal structure. The next downside target is at level of 52.50.
XAU USD, “Gold vs US Dollar”
After rebounding from level of 1173, Gold has started forming another consolidation channel. We think, today, the price may fall towards level of 1157, break it, and then form another descending structure to reach the local target at level of 1140.
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
GBP/USD remains on the defensive below 1.2450 ahead of UK Retail Sales data
GBP/USD remains on the defensive near 1.2430 during the early Asian session on Friday. The downtick of the major pair is backed by the stronger US Dollar as the strong US economic data and hawkish remarks from the Fed officials have triggered the speculation that the US central bank will delay interest rate cuts to September.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.
Israel vs. Iran: Fear of escalation grips risk markets
Recent reports of an Israeli aerial bombardment targeting a key nuclear facility in central Isfahan have sparked a significant shift out of risk assets and into safe-haven investments.