Analysis for July 1st, 2013
Euro is still moving near its minimums. We think, today the price may continue falling down inside the fifth wave with the target at 1.2900. On its way to this target the market is expected to move from 1.3030 to 1.2995 and then from 1.2995 to 1.2900. Later, in our opinion, the pair may start forming an ascending correction to return to the level of 1.3135.
Pound continues forming a descending structure near the level of 1.5435; right now, the market is forming the fifth descending wave with the target at 1.5130. We think, today the price may return to the level of 1.5225 and then continue falling down towards the main target.
Franc completed its ascending movement, but hasn’t formed any descending impulses yet. We think, today the price may move downwards a little bit to reach the level of 0.9410, then start growing up, and reach a new maximum at 0.9515. Later, in our opinion, the pair may fall down towards the level of 0.9310.
The USD/JPY currency pair reached the target of its correction at the level of 99.15 and even broke an ascending channel. We think, today the price may form a pivot point to continue falling down. A predicted target is at 89.60.
Australian Dollar continues forming another descending structure. We think, today the price may reach the level of 0.9180 and then continue falling down towards the target at 0.900. Later, in our opinion, the pair may form an ascending correction to reach the level of 0.9345 and then start a new descending movement towards the target at 0.8900.
Gold is trying to form an ascending impulse. We think, today the price may fall down towards the level of 1214 and then grow up to reach the level of 1250. This movement may be considered as a correction. Later, in our opinion, the instrument may start a new descending structure towards the target at 1150.
RoboForex Analytical Department