Forex Technical Analysis 15.07.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

July 15, 2014

EUR USD, “Euro vs US Dollar”

Euro is still consolidating. We think, today price may continue moving upwards to break level of 1.3650. Predicted target is at level of 1.3710; however, it will be specified as pair continues growing up and forming another continuation pattern.

GBP USD, “Great Britain Pound vs US Dollar”

It looks like Pound is falling down to reach level of 1.700. We should remind you, that market is moving inside ascending trend wave with target at level of 1.7730. Any descending movements may be considered as good opportunity to increase long positions. Next target is at level of 1.7300, which may be followed by another consolidation.

USD CHF, “US Dollar vs Swiss Franc”

Franc also continues consolidating; this consolidation channel may be considered as down-trend continuation pattern. We think, today price may break this channel downwards and continue falling down to reach target at level of 0.8830. However, this target is predicted and it will be specified as pair continues falling down and forming another continuation pattern towards level of 0.8830.

USD JPY, “US Dollar vs Japanese Yen”

Yen is still consolidating inside wide trading range. We think, today price may move upwards to reach level of 101.70 to test it from below. Later, in our opinion, instrument may continue moving inside descending trend towards level of 99.30.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar continues consolidating. We think, today price may form the fourth correctional structure towards level of 0.9330 (at least). Later, in our opinion, instrument may start another ascending structure to reach new high and then form reversal pattern to continue falling down.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is forming the third correctional structure with target at level of 35.00. We think, today price may move upwards to reach level of 34.82 and then fall down to test level of 34.25 (at least). Later, in our opinion, instrument may continue growing up to reach level of 35.00.

XAU USD, “Gold vs US Dollar”

Gold is still forming descending wave. We think, today price may reach level of 1321 to test it from below and then form another structure to reach new low. Later, in our opinion, instrument may form another structure return to level of 1321, which may be considered as reversal one. Main scenario implies that instrument may continue falling down.

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