Analysis for August 3rd, 2015
EURUSD, “Euro vs US Dollar”
After finishing a descending impulse, Eurodollar is consolidating. We think, today, the price may break this consolidation channel downwards and continue falling to reach 1.0844. An alternative scenario implies that the market may break the channel upwards and start a correction towards 1.1015.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is consolidating. We think, today, the price may fall to break 1.5565 and reach 1.5442. An alternative scenario implies that the market may try to reach another new high.
USDCHF, “US Dollar vs Swiss Franc”
Franc is still growing; the next target is at 0.9764. After that, the pair may form another correction towards 0.9543 and then continue moving inside the uptrend to reach 0.9944.
USDJPY, “US Dollar vs Japanese Yen”
Yen is moving upwards. We think, today, the price may reach 124.65. An alternative scenario implies that the market may continue the current correction up to 123.00. After that, the pair may resume growing to reach the local target.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar has formed a strong ascending impulse and corrected it. We think, today, the price may continue growing to break the maximum of the first impulse and form a correction towards 0.7555. An alternative scenario implies that the market may continue falling inside the downtrend to reach 0.6946.
USDRUB, “US Dollar vs Russian Ruble”
Being under pressure, Ruble is moving upwards. Possibly, today the price may reach a new high. It looks like the market has finished this wave and may form a reversal pattern to start a new descending wave with the target at 52.50.
XAUUSD, “Gold vs US Dollar”
Gold is forming another ascending structure with the target at 1131. After that, the price may start a correction to reach 1101 and then resume growing to reach 1161.
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