Analysis for July 7th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is moving above 1.1000. Possibly, the price may test 1.1120 from below. Later, in our opinion, the market may fall to break 1.1000 and then continue falling inside the downtrend. The next local predicted target is at 1.0833.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is moving under 1.3070. We think, today the price may test this level from below and then continue falling inside the downtrend to reach the main target at 1.2650. Later, in our opinion, the market may form a new consolidation range and a continuation pattern.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating and forming the triangle
pattern. The main scenario implies that the price may break the pattern’s upside border and then continue growing to reach 0.9860.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is rebounding from 101.38. The main scenario implies that the price may fall towards 99.86. After breaking it, the pair may reach 97.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair may choose an alternative scenario and grow towards 0.7555. The main scenario implies that the price may continue falling inside the downtrend to reach 0.7390. After breaking it, the market will continue falling to reach the local target at 0.7240.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair is moving in the center of the consolidation range without any particular direction. The main scenario implies that the price may fall and break 63.00. The target of the descending wave is at 60.00. If the market breaks the consolidation range upwards, it may start a correction to reach 69.00.
XAU USD, “Gold vs US Dollar”
Gold has reached a new top and right now is consolidating. If the price breaks this range upwards. It may reach 1380; if downwards – test 1355 from above. Later, in our opinion, the market may grow inside the uptrend with the target at 1425. The entire ascending structure may be considered as the extension of the fourth wave. After that, the price may fall inside the fifth wave to reach 920.
RoboForex Analytical Department