Analysis for July 6th, 2016
The EUR/USD pair has broken the ascending channel and right now is forming a downside continuation pattern. We think, today the price may test 1.1075 from below and then continue falling inside the downtrend with the target at 1.0960.
EUR USD, “Euro vs US Dollar”
GBP USD, “Great Britain Pound vs US Dollar”The GBP/USD pair is falling with the target at 1.2650. We think, today the price may rebound towards 1.300 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend to reach the above-mentioned target.
USD CHF, “US Dollar vs Swiss Franc”The USD/CHF pair has broken the descending channel. We think, today the price may form an upside continuation pattern at 0.9770. The market is expected to reach 0.9860.
USD JPY, “US Dollar vs Japanese Yen”The USD/JPY pair has broken its consolidation range downwards. We think, today the price may test 101.40 from below. After that, the pair may continue falling with the target at 98.00.
AUD USD, “Australian Dollar vs US Dollar”The AUD/USD pair has broken the ascending channel and reached the target. We think, today the price may grow towards 0.7482. Later, in our opinion, the market may form another structure of the downtrend to reach 0.7299.
USD RUB, “US Dollar vs Russian Ruble”The USD/RUB pair has returned to the center of the consolidation range. If the price reaches new lows, it may continue falling with the target at 60.00; if breaks the center upwards – start a correction to reach 69.00.
XAU USD, “Gold vs US Dollar”Gold has completed another ascending structure. We think, today the price may return to 1355. Later, in our opinion, the market may grow to reach 1380.
RoboForex Analytical Department
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