Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar has expanded its consolidation channel upwards and tested level of 1.2440 from below. We think, today the price may continue falling towards the channel’s lower border and reach level of 1.2330. Later, in our opinion, the market may start forming another consolidation range.
Pound is still consolidating. We think, today the price may complete an ascending structure at level of 1.5721 inside this consolidation channel and then form a descending one towards level of 1.5670. Possibly, the pair may fall towards the channel’s lower border and reach a new low. Later, in our opinion, the market may form another ascending structure towards the channel’s upper border.
Franc has expanded its consolidation channel downwards and tested level of 0.9666 from above. We think, today the price may form another ascending structure towards the channel’s upper border and reach level of 0.9777. Later, in our opinion, the market may start forming another consolidation channel.
Yen is moving upwards. We think, today the price may continue forming an ascending structure with the target at level of 119.30 and then fall towards level of 116.00. Thus, the pair is expected to form another consolidation channel and a reversal pattern.
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Australian Dollar is still consolidating and forming a descending structure. We think, today the price may return to level of 0.8650 and then fall to reach level of 0.8560. Later, in our opinion, the market may form another consolidation channel and an upside continuation pattern. The next target is at level of 0.8815.
Ruble is still moving inside the third descending wave; the pair has broken level of 45 and formed a downside continuation pattern. The target of the third wave is at level of 42.26. Later, in our opinion, the market may return to level of 45 as the fourth wave of this correction.
Gold continues moving in the center of its third ascending wave. We think, today the price may reach level of 1208.74 and then fall towards level of 1190.00. After that, the price may continue moving upwards as the third wave with the target at level of 1235.00.
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.