Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar has reached the target of its descending structure. Taking into consideration the structure of the previous descending wave and the continuation pattern at level of 1.1200, the market is expected to extend its descending structure. The target is at level of 1.0870.
Pound is under pressure and continues moving downwards; the pair has formed another continuation pattern inside the downtrend. We think, today the price may reach level of 1.5190 and then form a correction to return to level of 1.5370. After that, the pair may continue falling to reach level of 1.4850.
Franc has reached the target of its extended structure. We think, today the price may start a descending correction (at least). The target is at level of 0.8830.
Yen has finished a descending impulse and renewed its minimum. We think, today the price may continue falling inside the downtrend. The first target is at level of 118.80.
Free Reports:
Australian Dollar is still consolidating. We think, today the price may continue falling to level of 0.7680 and then return to level of 0.7780.
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 as the third wave of the descending structure. The target is at 50.50.
Gold is still consolidating. If the price breaks this channel downwards, the downtrend may continue. The main target is at level of 1113. However, if the price 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
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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.