Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar is trying to continue its ascending movement. We think, today the price may fall towards level of 1.1395, move upwards to break level of 1.1500, and then reach level of 1.1590. This structure may be considered as a wave with the target at level of 1.1690, which may complete the current ascending movement. After that, the pair may continue falling inside the downtrend. The next target is at level of 1.1000.
Pound is still forming the third ascending structure with the target at level of 1.5396. We think, today the price may reach it, fall towards level of 1.5194, and then form another ascending structure to reach level of 1.5435 thus completing this ascending movement. After that, the market may continue falling inside the downtrend towards level of 1.4850.
Franc is still consolidating. After breaking an ascending channel, the price may continue falling to reach level of 0.8880.
Yen is still falling. We think, today the price may reach level of 116.70, form another consolidation channel, and then continue moving inside the downtrend towards its local target at level of 115.00.
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Australian Dollar is still growing. We think, today the price may break level of 0.7845 form an upside continuation pattern; this structure may be considered as the third wave with the target at level of 0.7950. After that, the pair may return to level of 0.7840 and then start forming the fifth ascending wave to reach level of 0.8056; this ascending movement may be considered only as a correction. Later, in our opinion, the market may continue moving inside the downtrend.
Ruble has completed another descending structure and right now is forming a consolidation channel. We think, today the price may continue falling to break level of 62.00. The market is expected to form a descending wave with the target is at level of 55.00.
Gold hasn’t been able to expand its trading range downwards so far; the market has returned into its consolidation channel. We think, today the price may test level of 1270 and then continue moving inside the downtrend with the local target at level of 1230.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
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.