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Forex Technical Analysis & Forecast 05.07.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is consolidating around 1.1355. If later the market breaks this range to the upside, the instrument may be corrected towards 1.1414; if to the downside – continue its decline with the target at 1.1266. The main scenario implies that the downtrend may continue. An alternative scenario suggests that the pair may be corrected to the upside.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is consolidating around 1.2929. If later the market breaks this range to the upside, the instrument may be corrected towards 1.2970; if to the downside – continue its decline with the target at 1.2860. The main scenario implies that the price may continue falling inside the downtrend.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is trading around 0.9640. If later the market breaks this range to the upside, the uptrend may continue towards 0.9680; if to the downside – start another correction with the target at 0.9600.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is consolidating around 113.10. The main scenario implies that the price may break the low and fall towards the first target at 111.95. After that, the instrument may be corrected to reach 112.50.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is consolidating and growing towards 0.7633. Later, in our opinion, the market may fall to reach 0.7563 and then move upwards with the target at 0.7650.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is still trading around 59.30. After breaking this range to the downside, the price may reach 58.26 and complete the fifth descending wave. Later, in our opinion, the market may be corrected towards 59.30 and then continue falling inside the downtrend with the target at 55.50.

 

XAU USD, “Gold vs US Dollar”

Gold has completed the first impulse and right now is being corrected. Possibly, today the price may break 1228.00 to the upside. The target of the wave is at 1237.20. After that, the instrument may be corrected towards 1228.00.

 

BRENT

Brent is trading at the top of the third ascending wave. Possibly, the price may consolidate and move downwards a bit to reach 48.50. If later the market breaks this range to the upside, the instrument may reach 50.30; if to the downside – be corrected with the target at 47.40.

 

RoboForex Analytical Department

 



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