Forex Technical Analysis 25.07.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

July 25, 2014

EUR USD, “Euro vs US Dollar”

Euro reached its target, formed the first ascending impulse, and then corrected it. We think, today price may continue growing up and forming the second ascending impulse. Target is at level of 1.3500.

GBP USD, “Great Britain Pound vs US Dollar”

Pound reached its target and then tested the center of continuation pattern of uptrend. We think, today price may continue moving upwards. Main target of this structure is at level of 1.7500. After reaching it, pair may return to level of 1.7140.

USD CHF, “US Dollar vs Swiss Franc”

Franc reached target of its ascending wave and then formed descending impulse. We think, today price may form the second descending impulse. It looks like market is forming wave with target at level of 0.8955.

USD JPY, “US Dollar vs Japanese Yen”

Yen reached target of its ascending movement. We think, today price may consolidate and form reversal pattern. Market is forming another descending wave with main target at level of 99.30. The first target is at level of 100.50.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still being corrected. We think, today price may reach level of 0.9390 and then form another ascending structure towards level of 0.9510.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still being corrected inside the third ascending wave with target at level of 35.45. Alternative scenario implies that instrument may fall down towards level of 34.60 and only after that start growing up to reach above-mentioned target. Later, in our opinion, instrument may form another descending structure towards level of 34.60 and then move upwards to reach level of 35.60.

XAU USD, “Gold vs US Dollar”

Gold continues moving downwards and forming the third wave. We think, today price may continue forming this wave and reach level of 1275 (at least). Later, in our opinion, instrument may return to level of 1300 to test it from below and then fall down towards level of 1255.

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