Forex Technical Analysis 08.07.2015

EUR USD, "Euro vs US Dollar"

Eurodollar has reached the target of its descending wave; the pair has formed an ascending impulse and a correction. We think, today, the price may start forming an ascending structure to reach level of 1.1180.


GBP USD, "Great Britain Pound vs US Dollar"

Pound has reached the target of its descending wave; the pair has even formed an extension, which is typical for a descending trend wave. We think, today, the price may form a correction. The main target is at level of 1.5715. By now, the pair has formed an ascending impulse and a correction. The market is expected to continue growing.


USD JPY, "US Dollar vs Japanese Yen"

Yen is moving inside a descending wave with the target at level of 121.20. We think, today, the price may reach it and then fall towards level of 120.50. The market is forming a descending wave with the target at 119.50.

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