Forex Technical Analysis 03.07.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

Analysis for July 3^rd, 2013

EUR/USD

Euro continues moving inside a descending channel; the market has left triangle pattern downwards. We think, today the price may reach the level of 1.2950. Later, in our opinion, the pair may test the pattern’s lower border from below and then continue falling down towards the level of 1.2900.

GBP/USD

Pound is still moving inside a descending channel with the target at 1.5125. We think, today the price may return to the level of 1.5185 and then continue moving downwards to reach the above-mentioned target.

USD/CHF

Franc continues moving inside an ascending channel. We think, today the price may extend this wave towards the level of 0.9550. Later, in our opinion, the pair may return to the level of 0.9500 and then start a new ascending structure to reach the target at 0.9590.

USD/JPY

The USD/JPY currency pair is still growing up. The market has completed an ascending wave, but may continue moving upwards, as an extension towards the level of 97.80. The price may even reach the target at 101.70. Later, in our opinion, the pair may form a reversal structure to start a new descending movement.

AUD/USD

Australian Dollar continues forming a descending structure with the target at 0.9030. We think, today the price may form a correction towards the level of 0.9300 and then continue falling down to reach the target at 0.8900.

GOLD

Gold started forming a descending structure. We think, today the price may continue falling down towards the target at 1200. Later, in our opinion, the instrument may consolidate for a while and then continue moving downwards to reach the level of 1150.



 
RoboForex Analytical Department