Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Euro formed the third structure of descending wave, which may be considered as correction. We think, today price may form another descending structure to reach minimum of this wave and then continue moving upwards to reach target at level of 1.3900.
Pound is still forming consolidation channel; market may yet continue moving downwards. We think, today price may move downwards to reach level of 1.6575 and then continue growing up towards level of 1.7000.
Franc completed another structure of the third ascending wave. We think, today price may form one more ascending structure to reach level of 0.8930 and then continue falling down towards level of 0.8730.
Yen couldn’t continue its ascending movement towards level of 103.30 and right now is moving downwards. We think, today price may break its consolidation channel downwards and then continue falling down towards level of 100.00. Later, in our opinion, instrument may reverse and start growing up to return to level of 102.80.
Australian Dollar completed the third descending weave and corrected it. We think, today price may form another descending structure to reach level of 0.8870, consolidate for a while, and then continue moving inside descending trend towards level of 0.8400.
Gold completed the first descending impulse and right now is correcting it. We think, today price may return to level of 1336, form another descending structure towards level of 1303, and then return to level of 1320. Later, in our opinion, instrument may form the fourth correctional wave with target at level of 1285.
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.