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Forex Technical Analysis & Forecast 04.08.2017 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD, BRENT)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has completed the ascending correctional structure. We think, today the price may fall towards 1.1853 and reach the downside border of the range. If later the instrument breaks this consolidation channel to the downside, the market may fall to reach the local target at 1.1760; if to the upside – continue growing towards 1.1914.

 

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair has broken its consolidation range to the downside.  Possibly, today the price may grow towards 1.3187 and then start another descending structure with the target at 1.3000.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is still consolidating around 0.9673. Possibly, today the price may fall to reach 0.9600 and then start another growth towards the upside border of the range. If later the instrument breaks it to the downside, the market may be corrected to reach 0.9530; if to the upside – continue growing with the target at 0.9822.

 

USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair has reached another new low and right now is consolidating again. Possibly, the price may test 110.22 from below and then fall to reach 109.72 or even extend this structure towards 109.45.

 

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is forming the third descending wave; it has already completed the correction towards 0.7986. We think, today the price may rebound from this level and fall to reach the local target at 0.7896. Later, in our opinion, the market may grow with the target at 0.7968.

 

USD RUB, “US Dollar vs Russian Ruble”

The USD/RUB pair is forming another consolidation channel at 60.23. If later the instrument breaks this consolidation channel to the downside, the market may continue falling inside the downtrend; if to the upside – grow with the target at 61.70.

 

XAU USD, “Gold vs US Dollar”

Gold is trading towards the upside border of the consolidation range. Possibly, the price may reach 1273.52 and then fall towards 1265.20. If later the instrument breaks this consolidation channel to the upside, the market may reach 1283.87; if to the downside – start another correction with the target at 1244.00.

 

BRENT

Brent is consolidating at the top of the ascending structure. We think, today the price may fall towards the downside border of the range at 50.80. If later the instrument breaks this range to the downside, the market may be corrected towards 48.30; if to the upside – continue growing with the target at 54.70.

 

RoboForex Analytical Department

 


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