Forex Technical Analysis 25.07.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for July 25^th, 2013

EUR/USD

Euro started the first correctional wave; by now, the market has already formed two descending impulses. We think, today the price may form the third impulse with the target at 1.3165. After a slight correction, the pair may start another descending structure. The target of the correction is at the level of 1.2990.

GBP/USD

Pound continues forming a descending correction. We think, today the price may move upwards to reach the level of 1.5354 and then form another descending structure. The main target of the correction is at the level of 1.5040.

USD/CHF

Franc is forming an ascending correction. We think, today the price may continue growing up. The main target of the correction is at 0.9590.

USD/JPY

The USD/JPY currency pair is still consolidating near its maximum; the market is forming triangle pattern. We think, today the price may leave the pattern downwards; however, we can’t exclude a possibility that the pair may make a false ascending movement to break the pattern’s upper order. But the main scenario implies that the price may start forming another descending structure to reach the target at 97.00.

AUD/USD

Australian Dollar couldn’t form a new ascending structure; right now the pair is moving downwards. We think, today the price may return to the level of 0.9220 and then continue falling down towards the target at 0.8950.

GOLD

Gold is forming divergent triangle pattern. We think, today the price may fall down towards the level of 1308 and then move to reach the target at 1355. Later, in our opinion, the instrument may start a new descending movement towards the level of 1295.



 
RoboForex Analytical Department