Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar has formed the descending impulse. We think, today, the price may grow to reach 1.1336 to test it from below. If the market rebounds from this level and renews the low of this impulse, it may continue falling towards 1.1180. After that, the pair may consolidate and then continue falling inside the downtrend to reach 1.1000. An alternative scenario implies that the price may extend this growth towards 1.1380 and then fall inside the downtrend again.
Pound has formed the descending impulse and corrected it. We think, today, the price may rebound from 1.5430 and reach new lows. The next downside target is at 1.5270 (at least).
Franc is consolidating. We think, today, the price may grow to break 0.9720. The target is at 0.9770. After that, the pair may test 0.9720 from above and then grow again to reach 0.9870. An alternative scenario implies that the price may extend this correction towards 0.9600.
Yen has rebounded from 120.66 and right now is forming another descending structure with the target at 119.90. If the price break this level, it may continue falling towards the lower border of the consolidation channel at 118.62. if the market breaks the channel, the downtrend may continue towards 115.00.
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Being under pressure, Australian Dollar is falling. Possibly, today the pair may test 0.7093 from above. After that, the market may continue growing to reach the local target at 0.7195 and then towards 0.7070.
Ruble is still consolidating. We think, today, the price may break the ascending channel and start falling towards 64.00. After that, the pair may test 66.00 from below and then fall to reach 63.00.
Gold is expected to rebound from 1106.80. The target is at 1115.50. After that, the price may form another correction to return to 1106.78. This consolidation channel may be expanded up to 1131.00. In this case, the uptrend may continue towards 1220.00 (the main scenario).
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.