Forex Technical Analysis 01.08.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)


Analysis for August 01st, 2014

EUR USD, “Euro vs US Dollar”

EURUSD is probably building a consolidation around recent lows. I assume that this structure can be the part of reversal pattern. As basic scenario for today, I will expect retracement to 1.3590. As an alternative, price can first renew low, and rise only after that.

GBP USD, "British pound vs US Dollar"

GBPUSD is continuting to move inside descending channel. For today, I expect that 1.6845 might be violated. After that, I will look for possible consolidation with further reversal structure and continuation of the uptrend.

USD CHF, "US Dollar vs Swiss Franc"

USDCHF is building consolidation. I expect that it might be the part of possible reversal structure. As a basic scenario, I will expect descending wave to 0.8930. I will not exclude that price might renew highs first, and decline only after that.

USD JPY, "US Dollar vs Japanese Yen"

USDCHF continues to consolidate on the top of the ascending wave. I assume that it can be the part of reversal structure. As a basic scenario, I will expect ascending wave with 101.70 as a target and continuation of descending impulse with target of 99.30. 


AUD USD, "Australian dollar vs US dollar"

AUDUSD continues to move within descending structure. Potential of this wave can be already exhausted. For today, I expect that consolidation will be continued, but might be extended to the upside with possible further ascending wave with 0.9510 as a target.


USD RUB, "US Dollar vs Russian Rouble"

Russian rouble is probably continuing to move in ascending structure. For today, I assume that 35.81 might be achieved. After that, I will expect that descending impulse might resumed with 34.70 as a target.


XAU USD, "Gold vs US Dollar"

Gold continues to move within descending structure. I expect consolidation around recent levels with further breakout to the downside and achieving 1275. After that I will expect that price can retrace to 1300.

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.