Forex Technical Analysis 22.07.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

July 22, 2014

EUR USD, “Euro vs US Dollar”

Euro is still consolidating. We think, today price may move upwards to reach level of 1.3560 and then fall down towards level of 1.3530. Later, in our opinion, instrument may start forming another ascending structure to reach level of 1.3600.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still being corrected. We think, today price may reach level of 1.7010, consolidate for a while, and then form reversal pattern continue moving upwards. Next target is at level of 1.7500.

USD CHF, “US Dollar vs Swiss Franc”

Franc continues consolidating. We think, today price may leave this consolidation channel downwards and reach level of 0.8950. This movement may be considered as part of another descending wave with target at level of 0.8830.

USD JPY, “US Dollar vs Japanese Yen”

Yen is returning to level of 101.70 to test it from below again. Later, in our opinion, instrument may move downwards to reach level of 101.00, break it, and then continue falling down towards level of 101.50. Main target is at level of 99.30.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar continues forming correctional structure with target at level of 0.9415. Later, in our opinion, instrument may fall down towards level of 0.9300. This movement may be considered as part of another descending structure to reach level of 0.9270.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still consolidating. We think, today price may move upwards to reach level of 35.43 and then expand this consolidation channel downwards to reach level of 34.60. Later, in our opinion, instrument may complete this ascending wave by forming another structure towards level of 35.60 and then start forming the fifth descending wave to reach level of 33.20.

XAU USD, “Gold vs US Dollar”

Gold continues moving downwards. We think, today price may fall down to break level of 1300 and reach level of 1275. Later, in our opinion, instrument may return to level of 1300 once again to test it from below and then form another descending structure towards level of 1255.

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