Forex Technical Analysis 04.07.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

4 July, 2014

EUR USD, “Euro vs US Dollar”

Influenced by the news, Euro is forming consolidation channel. We think, today price may leave its descending channel and continue growing up to break level of 1.3650 again and then reach level of 1.3700. We remind you that instrument is forming the third ascending wave with target at level of 1.3790.

GBP USD, “Great Britain Pound vs US Dollar”

Pound expanded its consolidation channel downwards and right now is moving to break level of 1.7176 upwards. We think, today price may expand this channel towards level of 1.7245. Later, in our opinion, instrument may return to level of 1.7176 to test it from above and then continue growing up.

USD CHF, “US Dollar vs Swiss Franc”

Influenced by the news, Franc completed ascending structure and right now is consolidating. We think, today price may break ascending channel and continue falling down. Pair is expected to form triangle consolidation inside wide trading range, which may be considered as continuation pattern. Target of the third wave is at level of 0.8794.

USD JPY, “US Dollar vs Japanese Yen”

Yen tried to continue moving upwards by forming continuation pattern. Main scenario suggests that pair may fall down towards level of 101.00. We think, today price may form descending structure to break ascending channel and form reversal pattern. One of its parts may be another ascending structure to reach level of 102.30. Later, in our opinion, instrument may continue falling down towards above-mentioned target.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar completed its descending wave and broke level of 0.9417. We think, today price may return to level of 0.9417. After reaching it, we’ll see whether price is going to continue falling down or growing up. If falling down – it may reach level of 0.9270; if growing up – reach new high. Later, in our opinion, instrument may continue moving inside descending trend.

USD RUB, “US Dollar vs Russian Ruble”

Ruble broke descending channel of its third wave. Right now market is consolidating and forming the fourth wave with target at level of 35.00; this wave may become perfect five-wave structure. Alternative scenario implies that after breaking level of 34.40, price may form continuation pattern towards level of 35.00. Later, in our opinion, instrument may form the fifth wave with target at level of 33.20.

XAU USD, “Gold vs US Dollar”

Gold is not traded today because of the Independence Day in the USA. After the market opening on Monday, we think price consolidate, form reversal pattern, and continue falling down towards level of 1208.

RoboForex Analytical Department


Source link  
The pound is strengthening for the second day

The British Pound continues to grow on Wednesday. The currency is rather actively moving away from the previous local minimum. The current quotation of the GBP/USD pair is 1.5310. No one is talking about the pound moving above 1.55 yet there are too many external risks to which investors are not paying attention...

The yen sharply strengthened

On Wednesday, the Japanese yen sharply strengthened in trading. Correction of the long-term low started on Monday, but enthusiasm by itself was not enough. And this morning there was a reason to continue selling in the USD/JPY pair...

The euro doesn’t get tired of updating the peaks

Yesterday the euro/dollar "took advantage" of weak statistics from ADP in the US and moved up to new highs...


The Yen has slowed its growth

By the end of the week the USD/JPY pair stopped falling as significantly as was observed...

The euro is falling again

After a short pause, the main currency pair is dropping again – sympathy of investors remains...

The euro meets February in equilibrium

After a frantic and nervous January the euro/dollar seems to have...


The euro did well

The Eurocurrency needs very little for happiness: good statistics - and the main currency pair jumps up...

Forex Technical Analysis 10.11.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Euro has returned to test triangle pattern from below. We think, today the price may fall towards level of 1.2400 and then form a consolidation channel. If later the channel is broken downwards, the pair may move downwards to reach level of 1.2200...

Forex Forecast 20.10.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

Euro is forming the third ascending structure. We think, today the price may reach the target at level of 1.2900 and then start a new correction towards 1.2670...

  


Share: