Analysis for July 29th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is falling towards 1.1027. This structure may be considered as a part of the descending wave with the target at 1.0930. After that, the pair may return to 1.1050.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is consolidating above 1.3090 without any particular direction. We think, today the price may reach the upside border of the range at 1.3270 and then fall towards the downside one. Later, in our opinion, the market may break the border downwards and then continue moving downwards with the local target at 1.2788.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair has reached its downside target to break the ascending channel. We think, today the price may form a reversal pattern and start forming another ascending wave with the local target at 1.0107.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair has reached 103.00. However, this descending structure implies that it may be extended towards 102.32. After that, the pair may return to 104.87 and then continue falling inside the downtrend to reach 96.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is moving inside a wide consolidation channel. We think, today the price may fall to reach 0.7440 or and then return to 0.7480. If the market breaks this range downwards, it may fall to reach 0.7282; if upwards – be corrected with the target at 0.7575.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is growing. We think, today the price may reach 67.00. Later, in our opinion, the market may be corrected to return to 65.00 and then then continue the correction towards 69.00.
XAU USD, “Gold vs US Dollar”
Gold is being corrected towards 1326.67. Later, in our opinion, the market may grow to reach 1360.00 and then fall towards 1335.00. At the moment, the price is consolidating. Later, in our opinion, the market may break it upwards and reach the local target at 1425.00.
RoboForex Analytical Department
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