Analysis for July 31st, 2015
EURUSD, “Euro vs US Dollar”
Eurodollar is forming the third descending wave; the pair has already finished the correction. We think, today, the price may fall to reach the local target at 1.0870 and then form a new correction to return to 1.0974.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is forming a descending wave towards 1.5545 today. After that, the pair may return to 1.5600 and resume falling to reach 1.5509.
USDCHF, “US Dollar vs Swiss Franc”
Franc has completed the correction. We think, today, the price may grow towards 0.9761 and then form another correction to return to 0.9550.
USDJPY, “US Dollar vs Japanese Yen”
Yen is forming an ascending wave to reach 124.67. After that, the pair may start a correction towards 122.94 and then another growth to reach 125.45.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar is moving downwards. After reaching 0.7281, the market may start forming another ascending wave towards 0.7315. Later, in our opinion, the market may fall to reach 0.7284.
USDRUB, “US Dollar vs Russian Ruble”
Although the market was opened with a gap up, the main scenario still implies that the price may start falling and break the minimum of the first impulse and the ascending channel as well. The next target is at 52.50.
XAUUSD, “Gold vs US Dollar”
Gold is falling towards 1079.46. After that, the price may grow to reach 1100.00. After forming a continuation pattern, the market is expected to start a new ascending wave with the target at 1131.81.
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