Forex Technical Analysis 13.08.2015

EUR USD, "Euro vs US Dollar"

Eurodollar is falling today. The price is expected to form a wave to reach 1.1072 and then start a correction towards 1.1144. After that, the pair may continue falling inside the downtrend to reach 1.1000.

GBP USD, "Great Britain Pound vs US Dollar"

Pound is consolidating near the top. We think, today, the price may leave this consolidation channel downwards to reach 1.5532. This decline may be considered as the start of a new descending wave with the target at 1.5240.

USD JPY, "US Dollar vs Japanese Yen"

After falling and reaching 123.80, Yen has started forming a structure to return to 125.00. After that, the pair may fall towards 124.40. So far, this trading range may be considered as another consolidation channel.

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