Forex Technical Analysis 09.07.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for July 9^th, 2013

EUR/USD

Euro is still forming a correction towards the level of 1.2885. We think, today the price may complete the fifth wave of this correction. Later, in our opinion, the pair may continue forming a descending wave with the target at the level of 1.2700.

GBP/USD

Pound is forming an ascending correction to return to the level of 1.4980. Later, in our opinion, the pair is expected to continue falling down to reach the level of 1.4800.

USD/CHF

Franc continues moving inside a narrow consolidation channel. We think, today the price may continue growing up and each the target at 0.9800. Later, in our opinion, the pair may start a new correction to return to the level of 0.9470.

USD/JPY

The USD/JPY currency pair is still moving inside a narrow consolidation channel. We think, today the price may leave this channel upwards and reach the level of 101.75. Later, in our opinion, the pair may start a correction to return to the level of 97.80.

AUD/USD

Australian Dollar continues moving inside a narrow trading range bear its minimums; the market is forming triangle, a continuation pattern. We think, today the price may leave the pattern downwards and reach the level of 0.8900. Later, in our opinion, the pair may test the level of 0.900 from below and then start a new descending movement towards the level of 0.8800.

GOLD

Gold is trying to form another ascending structure; the whole structure may be considered as a five-wave correction. The target is at the level of 1270. Later, in our opinion, the instrument may continue falling down towards the target at 1150.



 
RoboForex Analytical Department