Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar is still forming its descending structure. We think, today, the price may reach 1.1020 and then return to 1.1046 to test it from below. After that, the market may start another decline towards 1.0940.
Being under pressure, Pound is falling. We think, today, the price may form another structure to reach 1.5446 and then return to 1.5570.
Being under pressure, Franc is growing. We think, today, the price may continue forming this wave with the target at 0.9762 and then fall to return to 0.9590.
Yen is moving upwards today and may reach 123.82. After that, the pair may start falling towards 122.95.
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Being under pressure, Australian Dollar is moving downwards; this movement may be considered as a correction towards 0.7285. After that, the market may start forming another ascending wave to break the top of the first impulse. The pair is expected to reach the target at 0.7406.
Ruble has renewed the top of its ascending wave; this extension may be a part of a reversal pattern. So far, the price is expected to form a consolidation channel. After breaking its ascending channel, the market may start forming a new descending wave with the target at 52.50.
Gold is moving upwards and trying to break its descending channel. We think, today, the price may grow to break 1104.90 and form a continuation pattern. The target of this wave is at 1131.80.
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.