Article By RoboForex.com
Analysis for July 22nd, 015
EUR USD, “Euro vs US Dollar”
Eurodollar has renewed the minimum of the descending wave again. We think, today, the price may break 1.0811 and then continue falling fast to reach 1.0677. After that, the price may start a correction towards 1.0945.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is forming a descending structure; it has reached the local target and completed the correction. We think, today, the price may reach 1.5534 and then return to 1.5600 as a correction, thus forming another consolidation channel. If the market breaks this channel upwards, it may grow towards 1.5700 (as an alternative scenario); if downwards – continue forming the main descending wave to reach 1.5240.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving upwards. After breaking 0.9650, the price may reach 0.9766. After that, the price may form a correction to return to 0.9547 and then grow to reach 0.9944.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still moving upwards with the target at 124.67. After reaching it, the price may form a correction to return to 123.00 and then form another ascending wave to reach of 125.45.
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AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is under pressure and moving downwards. We think, today, the price may break the lows and start a wave with the target at 0.7275. After that, the market is expected to form a correction and test 0.7390 from below. Later, in our opinion, the market may resume falling towards 0.7272.
USD RUB, “US Dollar vs Russian Ruble”
Being under pressure, Ruble is moving upwards to reach 58.50; we should note that this fifth might betruncated. After reaching 57.70, the pair may reverse. The main scenario implies that the price may continue falling towards 52.50.
XAU USD, “Gold vs US Dollar”
Gold continues forming the first ascending wave; the market has already formed four structures of this wave and today may finish the fifth one. We think, today, the price may reach 1131.80 and then fall as a correction towards 1101.25. After that, the market may start forming the third ascending wave with the predicted target at 1161.00.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
