Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar is still forming a descending structure with the target at level of 1.0625; this structure may be considered as a correction towards the previous ascending impulse and may take the form of five-wave structure. We think, today the price may reach level of 1.0680, return to level of 1.0835, and then continue falling towards the above-mentioned target.
Pound is still moving downwards. We think, today the price may reach level of 1.4400 and then return to level of 1.4660.
Franc continues forming an ascending structure; which may be considered as a correction. We think, today the price may reach level of 0.9815 and then return to level of 0.9688. Later, in our opinion, the market may start another ascending movement with the target at level of 0.9900 (at least).
Yen is attempting to form a consolidation channel and break it upwards to reach level of 120.25. Later, in our opinion, the market may resume falling towards level of 117.50.
Free Reports:
Australian Dollar is still extending its descending structure. We think, today the price may reach level of 0.7600 and then return to level of 0.7760. Possibly, the market may try to form another descending structure towards reach level of 0.7510.
Ruble is growing to return to level of 58.50. After reaching it, the price may fall towards level of 55.00 and then grow to reach level of 58.00, thus forming a consolidation channel. Later, in our opinion, the market may start falling to reach level of 44.00.
Gold continues falling; this movement may be considered as a part of a descending wave with the target at level of 1113. The first target is at level of 1187. Later, in our opinion, the market may return to level of 1203 and then continue falling inside the downtrend.
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.