Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Euro has formed another ascending impulse and right now is forming a consolidation channel at its top. We think, today the price may continue forming the channel and then leave it upwards to reach level of 1.2580. Later, in our opinion, the market may move downwards to test level of 1.2530 from above.
Pound continues moving downwards; the pair has broken a consolidation range downwards and may reach a new low. Later, in our opinion, the market may consolidate and form a reversal structure to return to level of 1.5765.
Franc has formed another descending impulse and right now is forming a consolidation range at its top. We think, today the price may continue falling to reach level of 0.9545. Later, in our opinion, the market may consolidate again and form a downside continuation pattern. The next target is at level of 0.9430.
Yen continues growing. However, we should note that the market may start a fast descending movement without any corrections at any time. So far, the pair is expected to expand this trading range towards level of 118.00.
Free Reports:
Australian Dollar is moving inside a descending structure towards level of 0.8630. After reaching it, the pair may form an ascending structure towards level of 0.8750 and then start falling again to reach level of 0.8700.
Ruble is still falling and forming short descending impulses. We think, today the price may reach a local target at level of 45.89. Later, in our opinion, the market may consolidate again and form a downside continuation pattern. The target is at level of 43.94.
Gold has left its consolidation channel upwards. We think, today the price may continue growing to reach level of 1208 with an extension. Later, in our opinion, the market may form the fourth wave of a correction towards level of 1178 and then the fifth one to reach level of 1223.
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.