Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
After finishing a descending impulse, Eurodollar is consolidating. We think, today, the price may break this consolidation channel downwards and continue falling to reach 1.0844. An alternative scenario implies that the market may break the channel upwards and start a correction towards 1.1015.
Pound is consolidating. We think, today, the price may fall to break 1.5565 and reach 1.5442. An alternative scenario implies that the market may try to reach another new high.
Franc is still growing; the next target is at 0.9764. After that, the pair may form another correction towards 0.9543 and then continue moving inside the uptrend to reach 0.9944.
Yen is moving upwards. We think, today, the price may reach 124.65. An alternative scenario implies that the market may continue the current correction up to 123.00. After that, the pair may resume growing to reach the local target.
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Australian Dollar has formed a strong ascending impulse and corrected it. We think, today, the price may continue growing to break the maximum of the first impulse and form a correction towards 0.7555. An alternative scenario implies that the market may continue falling inside the downtrend to reach 0.6946.
Being under pressure, Ruble is moving upwards. Possibly, today the price may reach a new high. It looks like the market has finished this wave and may form a reversal pattern to start a new descending wave with the target at 52.50.
Gold is forming another ascending structure with the target at 1131. After that, the price may start a correction to reach 1101 and then resume growing to reach 1161.
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.