Forex Technical Analysis 04.07.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for July 4^th, 2013

EUR/USD

Euro continues forming the fifth descending wave; the market has already reach its local target. We think, today the price may complete the fifth and final descending structure inside this wave at the level of 1.2900. Later, in our opinion, the pair may form a reversal structure for a new correction with the target at 1.3150.

GBP/USD

Pound is forming the fifth wave of this descending structure. We think, today the price may complete the fifth part of this wave at the level of 1.5125. Later, in our opinion, the pair may form a reversal pattern and continue growing up. The first target is at 1.5440.

USD/CHF

Franc continues forming the last structure inside the fifth wave. We think, today the price may reach the target at 0.9540, form a reversal pattern, and then continue moving downwards. The first target is at the level of 0.9300.

USD/JPY

The USD/JPY currency pair is still moving inside an ascending wave; this movement may be considered as an extension of the current correction. We think, today the price may reach the level of 101.10, form a reversal pattern, and then continue falling down. The first target is at the level of 97.80.

AUD/USD

Australian Dollar reached its local target. We think, today the price may return to the level of 0.9200 and then start another descending structure with the target at 0.8900.

GOLD

Gold is still moving near the top of an ascending impulse; however, this impulse isn’t likely to continue. We think, today the price may try to reach the level of 1270 and then continue moving downwards. The next target is at 1150.



 
RoboForex Analytical Department