Analysis for July 29th, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is still forming its descending structure. We think, today, the price may reach 1.1020 and then return to 1.1046 to test it from below. After that, the market may start another decline towards 1.0940.
GBPUSD, “Great Britain Pound vs US Dollar”
Being under pressure, Pound is falling. We think, today, the price may form another structure to reach 1.5446 and then return to 1.5570.
USDCHF, “US Dollar vs Swiss Franc”
Being under pressure, Franc is growing. We think, today, the price may continue forming this wave with the target at 0.9762 and then fall to return to 0.9590.
USDJPY, “US Dollar vs Japanese Yen”
Yen is moving upwards today and may reach 123.82. After that, the pair may start falling towards 122.95.
AUDUSD, “Australian Dollar vs US Dollar”
Being under pressure, Australian Dollar is moving downwards; this movement may be considered as a correction towards 0.7285. After that, the market may start forming another ascending wave to break the top of the first impulse and reach 0.7406.
USDRUB, “US Dollar vs Russian Ruble”
Ruble has renewed the top of its ascending wave; this extension may be a part of a reversal pattern. So far, the price is expected to form a consolidation channel. After breaking its ascending channel, the market may start forming a new descending wave with the target at 52.50.
XAUUSD, “Gold vs US Dollar”
Gold is moving upwards and trying to break its descending channel. We think, today, the price may grow to break 1104.90 and form a continuation pattern. The target of this wave is at 1131.80.
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