Forex Technical Analysis 08.07.2015 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

July 8, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has reached the target of its descending wave; the pair has formed an ascending impulse and a correction. We think, today, the price may start forming an ascending structure to reach level of 1.1180.

GBP USD, “Great Britain Pound vs US Dollar”

Pound has reached the target of its descending wave; the pair has even formed an extension, which is typical for a descending trend wave. We think, today, the price may form a correction. The main target is at level of 1.5715. By now, the pair has formed an ascending impulse and a correction. The market is expected to continue growing.

USD CHF, “US Dollar vs Swiss Franc”

Franc has formed only an ascending wave to expand its trading range upwards. We think, today, the price may form a descending impulse towards level of 0.9360 and then grow to reach level of 0.9545.

USD JPY, “US Dollar vs Japanese Yen”

Yen is moving inside a descending wave with the target at level of 121.20. We think, today, the price may reach it and then fall towards level of 120.50. The market is forming a descending wave with the target at 119.50.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is still under pressure and continues falling. We think, today, the price may reach level of 0.7300. After that, the market is expected to start a correction towards level of 0.7670.

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”

Gold continues moving downwards. We think, today, the price may reach the local target at level of 1140 and then start a correction to return to level of 1173. After that, the market may continue falling inside the downtrend towards level of 1113.

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