Forex Technical Analysis 07.07.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

July 7, 2015

EUR USD, “Euro vs US Dollar”

After making several attempts to rebound, Eurodollar is consolidating. We think, today, the price may fall towards level of 1.0930. After that, the pair may return to level of 1.1182.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is trying to return to level of 1.5647. After that, the price may fall towards level of 1.5500 and then grow to return to level of 1.5717.

USD CHF, “US Dollar vs Swiss Franc”

Franc is moving inside an ascending wave towards level of 0.9483, thus forming the borders of another consolidation channel. If the market breaks the channel upwards, it may reach level of 0.9545; if downwards – fall towards level of 0.9360.

USD JPY, “US Dollar vs Japanese Yen”

Yen is moving inside a descending wave with the target at level of 121.66. We think, today, the price may form the part of this wave to return to level of 123.24 and then continue falling towards the above-mentioned target. This structure may be considered as the half of the third descending wave.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has formed only an ascending impulse. We think, today, the price may form another ascending impulse, the third one. After forming it, the market is expected to start a correction, thus forming a consolidation channel. If the pair breaks it upwards, it may continue growing to return to level of 0.7676.

USD RUB, “US Dollar vs Russian Ruble”

Ruble is still forming an ascending structure towards level of 58.50. We think, today, the price may reach this target and start consolidating with a reversal structure. The next downside target is at level of 52.50.

XAU USD, “Gold vs US Dollar”

After rebounding from level of 1173, Gold has started forming another consolidation channel. We think, today, the price may fall towards level of 1157, break it, and then form another descending structure to reach the local target at level of 1140.

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