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Home / Analytics / Forex analysis & forecasts / Forex Technical analysis and forecasts / Forex Technical Analysis 01.08.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
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Forex Technical Analysis 01.08.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

01.08.2016

Analysis for August 1st, 2016

EUR USD, “Euro vs US Dollar”

Being influenced by the fundamental background, the EUR/USD pair is forming another structure of the correction. An alternative scenario implies that the price may form an ascending structure towards 1.1235. We think, today the price may grow to reach 1.1200 and then fall towards 1.1092. After that, the pair may form another ascending structure with the target at 1.1230 and then continue falling inside the downtrend according to the main scenario.




GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has completed the correction. We think, today the price may fall to break the correctional channel and reach 1.3062. Later, in our opinion, the market may consolidate and then continue falling inside the downtrend. The local target of this wave is at 1.2800.




USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair has almost completed the descending wave, which may be considered as a part of the triangle consolidation pattern. We think, today the price may form another consolidation range. If the pair breaks this range upwards, it may return to 0.9795; it downwards – fall towards the pattern’s downside border. If the market rebounds from the border upwards, it may continue growing inside the uptrend to reach 1.0000.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has broken 103.00 and right now is forming a new consolidation range. Possibly, the price may continue falling inside the downtrend according to the main scenario and reach the next target at 100.45. An alternative scenario implies that the price may test 103.48 from below and then continue falling inside the downtrend to reach the main target at 96.00.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has broken its consolidation channel upwards; the target is at 0.7620. We think, today the price may reach the target and then continue falling inside the downtrend towards 0.7412.




USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair has broken the ascending channel and almost formed the divergent triangle pattern. We think, today the price may fall towards the downside border and reach 64.67. Later, in our opinion, the market may consolidate and then start falling towards 63.67.




XAU USD, “Gold vs US Dollar”

Gold has broken 1343 upwards and may yet reach 1359. Later, in our opinion, the market may test 1343 from above and then continue moving according to the main scenario with the target at 1425. The first target is at 1383.



 
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