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Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Forex Technical Analysis 01.07.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
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Forex Technical Analysis 01.07.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

01.07.2016

Analysis for July 1st, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has completed the descending impulse and corrected it. We think, today the price may form another descending impulse. The main scenario implies another descending wave with the target at 1.0900, which may be considered as a structure of the current consolidation. Later, in our opinion, the market may return to the center of the consolidation range. After the pair rebounds downwards, it may fall to reach 1.0833.




GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is forming another descending wave. We think, today the price may reach 1.3000 and then return to the center of the consolidation range. Later, in our opinion, the market may continue falling inside the downtrend to reach 1.2650.




USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is still moving upwards with the target at 0.9848. By now, the price has returned to the center of the consolidation range, rebounded upwards, and at the moment is growing. We think, today the price may reach 0.9850. After that, the pair may form another consolidation range as a continuation pattern. The main target of the ascending wave is at 1.0050.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is forming a descending impulse, which may be considered as another descending wave towards 100.30. After that, the pair may return to the center of the range. After rebounding downwards, the downtrend may continue up to 98.00.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is attempting to reach 0.7480. Possibly, it may even reach 0.7520. However, these structures may be considered as an alternative scenario only. The main scenario suggests that the price may continue falling inside the downtrend to reach 0.7130.




USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has rebounded from the downside border of the triangle pattern and right now is forming a consolidation range. If the price breaks the range upwards, it may grow to reach the range’s upside border at 65.85 and then fall towards the downside border. If the pair breaks this range downwards - the market may continue falling inside the downtrend to reach 60.00; if upwards – the correction may continue to reach 69.00.




XAU USD, “Gold vs US Dollar”

Being under pressure, Gold is moving upwards. We think, today the price may continue growing inside the uptrend to reach 1383. Later, in our opinion, the market may return to 1316 and then form another ascending structure towards 1420.



 
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