Analysis for July 24th, 2015
Eurodollar is forming another consolidation channel at the top of its ascending structure. If the pair breaks this channel upwards, the current correction may continue up to 1.1100; if downwards – fall inside the downtrend to reach 1.0940.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”Pound is moving downwards to reach 1.5483. After that, the market may return to 1.5578 and then continue falling towards 1.5240.
USD CHF, “US Dollar vs Swiss Franc”Franc has reached the minimum target of the current correction and today may move upwards to reach the upper border of the consolidation channel. However, this structure may yet continue falling towards 0.9506. After that, the market may start another growth to reach 0.9760.
USD JPY, “US Dollar vs Japanese Yen”Yen is moving without any particular tendency; the marker is almost “locked” inside triangle pattern. If the pair breaks this pattern upwards, it may grow to reach 124.67; if downwards - the current correction may continue towards 122.95.
AUD USD, “Australian Dollar vs US Dollar”Australian Dollar has made a fast descending movement and reached the local target from the daily chart. We think, today, the price may forming the fourth wave to return to 0.7555. Also, today the market may try to reach another low and form a consolidation channel with a reversal pattern.
USD RUB, “US Dollar vs Russian Ruble”Ruble has almost reached the target of its ascending wave. We think, today, the price may make another ascending movement to reach 57.71. After that, the pair may form a consolidation channel and a reversal pattern to start a descending wave towards 52.50.
XAU USD, “Gold vs US Dollar”Gold has formed another structure of the correction. We think, today, the price may form an ascending wave to break the descending channel. The target is at 1131.80. After that, the market may fall to return to 1101.00.
RoboForex Analytical Department
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