Technical analysis for EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD on 20.07.2016


Currency pair Euro-US Dollar tested next target of descending matrix. Today market is traded in narrow consolidated diapason on lows of this matrix. Wave is considered as the third. Its target is on level 1.0830 and market is traded exactly in the center of that descending wave. We may get current structure as a figure of continuation following the main scenario. We will no exclude possibility of correction to level 1.1080 as alternative. Later - continuation of the main scenario with downtrend.


Currency pair Pound to US Dollar tested its descending matrix and in momentum is traded in narrow consolidated diapason on lows. Continuation of downtrend is considered as the main scenario. Next target is on level 1.2788. Later - test from below of level 1.3090. Then - descending to test the main target on level 1.2650. Development of correction to level 1.3287 is not excluded as alternative. Then - continuation of main downtrend.


Currency pair US Dollar-Franc is traded under pressure for growth. We expect test of level 0.9920. Later we do not exclude descending to 0.9800. Then - growth to level 0.9970. Market trades the third growth wave to 1.0130.


Currency pair US Dollar to Yen offers to consider alternative of stretching of growth structure to level 107.44. Next in turn - descending to level 103.10.


Currency pair AUS Dollar to US Dollar almost tested target of descending and tries to correct to level 0.7575. We do not exclude one more prise release to upgrade low and only after that we expect correction with returning for breakage of growth channel. Later we consider possibility of development of next descending wave to level 0.7225.


Russian ruble is traded in consolidated diapason under level 64.00. Technically that structure must ensure market with descending to level 62.00 and in the future - overlapping of main target on level 60.00. Ruble dependence on oil market is obvious, and considering would-be correction for oil, we will consider possibility of the same correction for ruble to level 67.00 (as minimum).


Gold is continue to be traded within narrow consolidated diapason. Market formed "Triangle". We consider breakage to the top and continuation of growth to level 1383 as main scenario. Next - descending to 1344. Then we will consider possibility of developing of one more component of growth wave to level 1425. We do not exclude effort of price to release to the down to overlap 1313 as alternative. After - in growth, continuation of trend to level 1383.


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.