Analysis for July 8th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is moving above 1.1000 without any particular direction. Possibly, the price may test 1.1120 from below. Later, in our opinion, the market may fall to break 1.1000 and then continue falling inside the downtrend. The next local predicted target is at 1.0833.
GBP USD, “Great Britain Pound vs US Dollar”
The GBP/USD pair is moving under 1.3080 without any particular direction. We think, today the price may test this level from below and then continue falling inside the downtrend to reach the main target at 1.2650. Later, in our opinion, the market may form a new consolidation range and a continuation pattern.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is consolidating and forming the triangle
pattern. The main scenario implies that the price may break the pattern’s upside border and then continue growing to reach 0.9860.
USD JPY, “US Dollar vs Japanese Yen”
The USD/JPY pair is rebounding from 101.38 downwards. We think, today the price may break 100.28 and then fall towards 99.35. After that, the pair may return to 101.37 to test it from below and then continue falling with the target at 97.00.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair is consolidating at the top of the ascending structure. Possibly, the price may grow towards 0.7555 and then continue falling inside the downtrend to reach 0.7388. And this is just a half of another descending structure, the third one. The local target at 0.7240.
USD RUB, “US Dollar vs Russian Ruble”
The USD/RUB pair has returned to the downside border of the triangle
pattern. We think, today the price may grow towards the pattern’s upside border and break it. After that, the pair may continue moving upwards to reach the local target at 67.70. Being influenced by the oil prices, the market may continue the current correction.
XAU USD, “Gold vs US Dollar”
Gold has completed the descending impulse. We think, today the price may grow to reach 1380 and then be corrected to the downside with the target at 1325. Later, in our opinion, the market may form another ascending structure to reach 1425 (at least).
RoboForex Analytical Department