Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Euro is still forming correctional flag pattern towards previous ascending impulse. We think, today price may continue falling down to reach target of this pattern at level of 1.3680 and then start another ascending structure towards level of 1.3800.
Pound is still moving below level of 1.6825; this movement may be considered as the fifth descending structure to complete current correction with target at level of 1.6655. Later, in our opinion, instrument may form reversal structure to continue moving upwards.
Franc is growing up; this movement may be considered as ascending correction towards previous descending impulse. We think, today price may reach level of 0.8935 and then continue falling down to break level of 0.8880 and reach target at level of 0.8820.
Yen is still consolidating near level on 101.50. We think, today price may fall down to reach level of 101.00 and then grow up towards level of 102.00. Later, in our opinion, instrument may complete this descending wave by forming another descending structure towards level of 100.00.
Australian Dollar is moving inside wide consolidation channel. We think, today price may continue forming this descending structure with target at level of 0.9305. Later, in our opinion, instrument may start another ascending movement to reach level of 0.9415 and then continue falling down.
Ruble continues falling down towards level of 34.54. After reaching it, instrument may start growing up to reach level of 35.15 (at least) and then complete this descending wave by forming another descending structure with target at level of 34.50.
Gold completed correction and right now is moving inside ascending structure with target at level of 1321. After reaching it, price may form consolidation channel and form continuation pattern to continue growing up.
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.