Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Euro is moving upwards. We think, today the price may try to break a descending channel and form a continuation pattern towards level of 1.3078, or even form a correction towards level of 1.2920. Later, in our opinion, the market may move upwards to break a descending channel and reach the above-mentioned target. The pair may form an ascending correction with the main target at level of 1.3388.
Pound continues forming an ascending structure with the target at level of 1.6300. After reaching it, the price may fall to return to level of 1.6180. Later, in our opinion, the market may move upwards to break a descending channel and then continue growing inside an ascending correction with the target at level of 1.6630 at least.
Franc is still forming a descending structure with the target at level of 0.9300. After reaching it, the price may grow to return towards level of 0.9355, continue falling to break an ascending channel, and reach the main target at level of 0.9077.
Yen is still moving inside an ascending structure. We think, today the price may reach level of 108.00 and then start a correction towards level of 104.50. Later, in our opinion, the market may form another ascending structure to reach level of 108.50 and then start falling inside a new descending trend.
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Australian Dollar reached the target of its descending wave. We think, today the price may form another structure to return to level of 0.9200, at least. Later, in our opinion, the market may start a new descending movement with the target at level of 0.8940, at least.
Ruble is under pressure and continues growing. We think, today the price may reach level of 38.10 and then move downwards to reach level of 34.20. Later, in our opinion, the market may complete this ascending wave by growing and reaching level of 38.50. After that, the pair may start a correction as the fourth wave with target at level of 34.
Gold continues falling inside a descending channel with the main target at level of 1208. We think, today the price may test level of 1248 from blow and then continue moving downwards to reach the above-mentioned target.
RoboForex Analytical Department
Article By RoboForex.com
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.