Forex Technical Analysis 09.07.2015

EUR USD, "Euro vs US Dollar"

Eurodollar has reached the target of its ascending wave at level of 1.1110. We think, today, the price may start falling towards level of 1.1010, thus forming a new consolidation channel. If the channel is broken upwards, the market may reach level of 1.1182; if downwards – continue falling inside the downtrend to break level of 1.0920.

GBP USD, "Great Britain Pound vs US Dollar"

Pound has reached the local target of target of its extension. We think, today, the price may form a correction towards level of 1.5508 (at least). After that, the market is expected to start forming another descending structure with the target at level of 1.5250.

USD JPY, "US Dollar vs Japanese Yen"

Yen expanded its trading range downwards and by now has already returned to the level, where it was broken. We think, today, the price may fall towards level of 120.20 and then return to level of 121.55, thus forming a new consolidation channel. After the market breaks the minimum, it may continue falling inside the downtrend towards level of 119.00.

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