Analysis for July 29th, 2013
EUR/USD
After testing the level of 1.3165, Euro continues forming an ascending
wave, the third one, with the target at 1.3330. Later, in our opinion,
the pair may start a new descending movement to return to the level of
1.3165.
GBP/USD
After testing the level of 1.5265, Pound continues forming an ascending
wave, the third one, with the target at 1.5500. Later, in our opinion,
the pair may start another descending correction towards the level of
1.5265 and then form the fifth ascending wave to reach the target at
1.5710.
USD/CHF
Franc is still forming a descending wave with the target at 0.9260.
Later, in our opinion, the pair may grow up towards the level of 0.9400
and then start falling down again to reach the target at 0.9050.
USD/JPY
The USD/JPY currency pair continues forming a descending wave. We
think, today the price may reach the level of 97.50 and then start a
correction to test the level of 99.00 from below. Later, in our opinion,
the pair may continue falling down to react the target at 97.00.
AUD/USD
Australian Dollar is forming an ascending correction with the target at
0.9290. Later, in our opinion, the pair may move downwards to reach the
level of 0.9030, consolidate for a while, and then continue falling
down towards the target at 0.8900.
GOLD
Gold is forming another ascending structure with the target at 1355.
Later, in our opinion, the price may move downwards to reach the level
of 1295 and then start a new ascending wave towards the target at 1385.
