Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating. The main scenario for today remains the same – the price is expected to continue falling; the main target is at level of 1.1000. An alternative scenario implies that the market may try to expand this consolidation channel upwards to return to level of 1.1280 and then continue moving inside the downtrend.
Pound has broken its consolidation channel downwards and may continue falling to reach level of 1.5280. After that, the pair may return to level of 1.5370.
Franc continues moving upwards. We think, today the price may reach level of 0.9615. One should note that this ascending movement is the result of regulator’s influence and can stop at any moment. The next downside target is at level of 0.8200; a local one – at 0.8830.
Yen has finished another descending impulse. We think, today the price may start a correction towards level of 119.90. After that, the pair may fall to reach level of 118.30.
Free Reports:
Australian Dollar is moving upwards and may continue up to level of 0.7925. However, the main scenario hasn’t changed – the price is expected to fall towards level of 0.7680 and then return to level of 0.7830. Thus, these fluctuations of the price may form another consolidation channel.
Ruble is still moving inside a descending structure towards level of 57.40. This movement may be considered as the first wave of another descending structure. After that, the pair may start a correction to return to level of 64.00 and then continue falling inside the downtrend.
Gold is consolidating. If the price breaks this channel downwards, the downtrend may continue. The main target is at level of 1113. However, if the piece breaks the channel upwards, it may form a correction to return to level of 1250. In any case, after that the market is expected to fall towards the above-mentioned target.
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.