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

December 9, 2016
Coeure - ECB ready to do more
ECB board member Benoit Coeure commented the yesterday decision in a radio interview. The central bank announced QE tapering stressing that it does not mean less engagement...
December 8, 2016
Tapering and extending
The main challenge for markets today will be steering through the messages that emerge from the ECB meeting and press conference. Whereas the Fed meeting next week is seen as a near certainty in terms of its outcome, this is not the same for the ECB...
December 7, 2016
Oil ma pull back to $40
The oil price fell for the first time in 4 days today as skepticism creeped in over some OPEC member’s commitment to keep to their end of the deal and cut production...

FXCM Rating
Tickmill Rating
Trade360 Rating
XM Rating
EXNESS Rating
Vantage FX Rating

Porter Finance Rating
TropicalTrade Rating
Binary Brokerz Rating
OptionRally Rating
IQ Option Rating
OptionFair Rating