Forex Technical Analysis 04.07.2016 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, GOLD)

04.07.2016

Analysis for July 4th, 2016

EUR USD, “Euro vs US Dollar”

Being under pressure, the EUR/USD pair continues moving upwards and may choose an alternative scenario, which implies that the price may extend the current correction towards 1.1210. Later, in our opinion, the market may fall towards 1.1110 and then form another ascending structure to reach 1.1310. After that, the pair may continue moving according to the main scenario, which suggests that it is expected to fall inside the downtrend with the target at 1.0833. This scenario may start at any moment.




GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still consolidating. We think, today the price may reach 1.3176 and then return to 1.3375. After that, the pair may choose an alternative scenario, which implies that it may extend the correction towards 1.3600. The main scenario suggests that the market may continue falling inside the downtrend to reach 1.2650. This scenario may start at any moment.




USD CHF, “US Dollar vs Swiss Franc”

Being under pressure, the USD/CHF pair is falling and may extend the correction towards 0.9690. Later, in our opinion, the market may test 0.9750 from below and then fall towards 0.9656. All descending movement should be considered as an alternative scenario only. After breaking the descending channel, the price may move upwards according to the main scenario to reach 1.0000. This scenario may start at any moment.




USD JPY, “US Dollar vs Japanese Yen”

The USD/JPY pair is consolidating. Possibly, the price may grow towards 103.00. The main scenario suggests that the market may fall towards the downside border of the consolidation range. After breaking it, the pair may reach 99.85.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair has almost completed the ascending correction. We think, today the price may form another consolidation range. After breaking it downwards, the market may form one more descending wave to reach 0.7130.




USD RUB, “US Dollar vs Russian Ruble”

Being under pressure, the USD/RUB pair is falling. We think, today the price may break the downside border of the consolidation range and then test 63.35 from below. After that, the pair may continue falling inside the downtrend to reach 60.00.




XAU USD, “Gold vs US Dollar”

Gold isn’t trading today due to the Independence day celebration in the USA. The trading will resume tomorrow at 10 AM.



 
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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.