Analysis for July 8th, 2013
Euro is still moving inside a descending channel; the market wasn’t able to from reversal structures. We think, today the price may continue falling down towards the level of 1.2700 and then form reversal impulses. If the market fails to form a reversal pattern, the pair will continue moving downwards.
Pound continues moving inside a descending channel. We think, today the price may extend this wave towards the level of 1.4800. If the market fails to form a reversal pattern for a new correction, the pair may continue falling down towards the next target at the level of 1.4600.
Franc wasn’t able to form a reversal pattern for a new correction and continues moving upwards. We think, today the price may grow up and each the level of 0.9800. Later, in our opinion, the pair may form a reversal pattern to return to the level of 0.9470.
The USD/JPY currency pair is still moving inside an ascending channel with the target at the level of 101.75. Later, in our opinion, the market may start forming a reversal structure. If the market fails, the pair will continue growing up towards the target at 102.70.
Australian Dollar continues forming a descending structure. We think, today the price may continue falling down to reach the level of 0.8875. Later, in our opinion, the pair may grow up a bit and the start a new descending movement towards the target at 0.8800.
Gold is still moving downwards. We think, today the price may reach the level of 1190, move upwards a little bit, and then continue falling down towards the target at 1150.
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