Forex Technical Analysis 29.07.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

July 29, 2014

EUR USD, “Euro vs US Dollar” Pair continues consolidation at current minimums. In our opinion, descending structure is being formed. Double inverted top may be formed. The basic scenario for this currency pair is the forming of ascending structure towards level of 1.3510. Then, the price may start falling down towards level of 1.3470. After reaching it, another ascending structure may be formed and price may reach level of 1.3590.
 

GBP USD, “Great Britain Pound vs US Dollar” Pound continues moving in consolidation channel. The basic scenario is that price will be moving upwards inside ascending wave with target at level 1.7500.

USD CHF, “US Dollar vs Swiss Franc” Pair continues consolidation near its maximums. The ascending structure is forming. We think that slight changes near maximums may occur. Today the descending structure may be formed and price may reach level of 0.9000.  Then, we think price may resume moving upwards towards level of 0.9030. After reaching it, price may resume descending movement towards level of 0.8955.

USD JPY, “US Dollar vs Japanese Yen” Yen broke its consolidation channel upwards. The third wave may be formed, after it, price may start moving towards level of 102.60. Thus, market is forming daily consolidation triangle that is considered as a pattern of downtrend continuation towards level of 99.30.

 

 

AUD USD, “Australian Dollar vs US Dollar” Australian Dollar is still moving inside descending structure as correction. Today ascending wave may be formed and price may reach level of 0.9510. As an alternative scenario, in our opinion, price may start falling down towards level of 0.9370. After it, we expect the ascending wave again.

 

 

USD RUB, “US Dollar vs Russian Ruble” Ruble is still moving in the ascending channel. Price is expected to reach level of 35.66 due to the extension. Then, this growth stage will be completed. After it, we expect correction towards level of 34.68. Then, the fifth wave may be formed inside this correction and price may reach the level of 35.85.

 

 

XAU USD, “Gold vs US Dollar” Gold continues its recovery pattern. We expect price may try to reach level of 1311. Then, descending wave may be formed and level of 1290 may be broken. We expect the third descending wave. The target is level of 1275.

RoboForex Analytical Department

 

 

Publication source
RoboForex information  RoboForex reviews

September 28, 2016
US presidential debate moves unwind
The market’s initial response to the US presidential election debate overnight was a clear sigh of relief. The Mexican Peso, which had hit a record low against the dollar just the day before, surged higher, as too did the Canadian dollar...
September 27, 2016
Markets start last week of September on the back foot
It hasn't been a great start for global equities in this last week of September, with European indices dropping between 1.0 to 1.5 per cent during Monday’s morning session, mirroring a similar performance in Chinese and Japanese markets overnight...
September 23, 2016
Gold rises to critical level on lower-for-longer policy signals
The price of gold extended its rebound modestly on Thursday after the US Federal Reserve provided some key signals on Wednesday that, despite a considerable probability of one Fed rate hike by the end of this year...

HotForex Rating
Larson&Holz IT Ltd Rating
Fort Financial Services Rating
FxPro Rating
FXCM Rating
Orbex Rating

Beeoptions Rating
Porter Finance Rating
Banc De Binary Rating
EZTrader Rating
OptionRally Rating
TopOption Rating