Analysis for July 23rd, 015
EUR USD, “Euro vs US Dollar”
Eurodollar hasn’t completed its ascending structure. We think, today, the price may reach 1.0965 and then continue falling towards 1.0864, thus forming a new consolidation channel. If the pair breaks this channel downwards, it may continue falling inside the downtrend to reach 1.0677; if upwards – the current correction may continue up to 1.1000.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving to reach 1.5656. After that, the market may start a new decline towards the lower border of this consolidation channel at 1.5527. If the pair breaks this channel upwards, it may reach 1.5710; if downwards – the downtrend may continue towards 1.5240.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving without any particular tendency and forming triangle pattern. If the pair breaks this channel upwards, it may reach 0.9758; if downwards – start a correction towards 0.9547. After that, the market may continue growing to reach 0.9850.
USD JPY, “US Dollar vs Japanese Yen”
Yen has formed a descending impulse and corrected it. The market has defined the borders of another consolidation channel. If the pair breaks this channel downwards, it may continue the current correction towards 122.95; if upwards – grow to reach the local target at 124.67.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming the fifth descending wave; the market has formed quite a wide channel for this decline. The target of the wave is at 0.7272. The current structure has equal chances to continue either up to 0.7463 or down to 0.7300.
USD RUB, “US Dollar vs Russian Ruble”
The market was opened with a gap up and Ruble is moving upwards to reach 57.70. After that, the pair may form a consolidation channel and a reversal pattern to start falling towards 52.50.
XAU USD, “Gold vs US Dollar”
Gold is forming a structure to return to 1110.00. After that, the market may start falling towards 1100.00. After breaking this level upwards, the market may continue forming the first ascending wave with the target at 1131.80.
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