Forex Technical Analysis 07.06.2014 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)
02.07.2014
Analysis for July 2nd, 2014
EUR USD, “Euro vs US Dollar”
Euro broke level of 1.3650 upwards. We think, today price may return to this level to test it from to above and then continue growing up to reach local target of the first wave at level of 1.3790. Later, in our opinion, instrument may start another descending structure to return to level of 1.3650 and then form the fifth ascending wave with target at level of 1.3800.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still moving upwards. We think, today price may reach level of 1.7176 and then form correction towards level of 1.7115. Later, in our opinion, instrument may continue moving upwards to reach level of 1.7245.
USD CHF, “US Dollar vs Swiss Franc”
Franc is returning to level of 0.8900. After reaching it, price may fall down towards level of 0.8794. Later, in our opinion, instrument may start the fourth correctional wave to return to level of 0.8900 and then form the fifth one, down to level of 0.8770.
USD JPY, “US Dollar vs Japanese Yen”
Yen is moving back to level of 101.70 to test it from below. After reaching it, price may continue falling down to reach level of 101.00 and then return to level of 101.70 again, in our opinion, instrument may start another descending wave to reach level of 100.50.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar reached its targets of growth. We think, today price may start descending impulse and form consolidation channel with reversal pattern to continue falling down. Next predicted target is at level of 0.9200.
USD RUB, “US Dollar vs Russian Ruble”
Ruble reached target of its first ascending wave. We think, today price may form descending correction towards level of 33.92 and then move upwards to reach level of 34.60. Main target of the fourth wave is at level of 35.00. Later, in our opinion, instrument may form the fifth wave with target at level of 33.20.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating near its highs. We think, today price may move upwards to reach level of 1333. Later, in our opinion, instrument may form reversal pattern and continue falling down towards level of 1208.
RoboForex Analytical Department
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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.