Analysis for July 19th, 2013
Euro is trying to start an ascending structure. We think, today the price may move upwards to reach the level of 1.3190 and then fall down towards the target at 1.2990.
Pound is forming a consolidation channel and trying to reach a new maximum. Later, in our opinion, the price may start a correction to return to the level of 1.5040 and then continue moving upwards.
Franc is still forming a descending structure inside the fifth wave. We think, today the price may reach the target at 0.9340 and then start a correction towards the level of 0.9590.
The USD/JPY currency pair completed another structure inside this ascending wave. We think, today the price may move downwards to reach the level of 97.15 and then form one more ascending structure to return to the level of 99.50. Later, in our opinion, the pair may continue moving downwards.
After completing another descending structure. Australian Dollar is consolidating inside a narrow trading range. We think, today the price may continue falling down towards the target at 0.9090, form another correctional structure, and then start moving downwards again.
Gold is moving inside a consolidation channel. We think, today the price may grow up to reach the level of 1300. Later, in our opinion, the instrument may fall down towards the channel’s lower border and even reach the target at 1250.
RoboForex Analytical Department