Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar has completed the correctional wave towards its previous decline. We think, today, the price may form another descending structure towards 1.0993. After that, the pair may test 1.1068 and then fall again to reach 1.0922.
Pound is consolidating at the top of its ascending wave. The main scenario implies that the price may fall inside the downtrend towards 1.5240. An alternative scenario suggests that the market may form the correction towards 1.5624, break the consolidation channel, and continue growing to reach 1.5765.
Franc is being corrected towards 0.9620. After that, the market may resume growing and form an ascending wave to reach 1.0000.
Yen is consolidating inside the correctional structure. We think, today, the price may reach 123.60 and then test 124.15 from below. After that, the market may start another decline towards 123.00 and then form one more ascending structure to reach 125.45.
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Australian Dollar is falling towards 0.7309. After that, the market may form a correction to reach 0.7350 and then form another descending wave towards 0.7200. Later, in our opinion, the price may start a more serious correction with the target at 0.7555.
Ruble is moving upwards. We think, today, the price may return to 65.00. After that, when the oil market reaches new lows, the pair is expected to grow towards 67.10 and then fall to reach 63.00.
Gold has reached the target of its ascending wave. We think, today, the price may form another descending correction towards 1100 to test it from above. After reaching it, the price may form another ascending wave 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.