Analysis for July 20th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still under pressure and continues falling. The target of this structure is at level of 1.0677. After that, the price may return to level of 1.0945 and then continue moving downwards to reach level of 1.0467.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is consolidating so far. We think, today, the price may fall towards level of 1.5534. After that, the pair may grow to reach level of 1.5700; this ascending movement may be considered as an alternative scenario. The main scenario remains the same – the downtrend is expected to continue to reach level of 1.5240.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, Franc is moving upwards. The target of this extension is at 0.9766. After that, the price may fall towards level of 0.9550 and then grow to reach level of 0.9944.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still moving upwards with the target at level of 124.67. After reaching it, the price may form a correction to return to level of 123.00 and then form another ascending wave to reach level of 125.45.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has fallen and completed the central part of another continuation pattern. The pair is returning to level of 0.7385. After that, the market is expected to start a new decline towards level of 0.7272.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is moving inside an ascending structure towards level of 58.50; we should note that this fifth might be truncated. After reaching level of 57.70, the pair may reverse. After that, the price may continue falling towards level of 52.50.
XAU USD, “Gold vs US Dollar”
Gold is in the serious meltdown today – it has reached all targets of this descending wave. Right now, the price is expected to form a correction to return to level of 1250 to test it from below. After that, the market may continue falling inside the downtrend. The target of the first structure of the above-mentioned correction is at level of 1131.
RoboForex Analytical Department