Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar has formed its descending structure and broken the consolidation channel downwards. We think, today, the price may return to 1.0730and then continue falling inside the downtrend to reach 1.0563. After that, the instrument may test 1.0630 from below and then continue moving downwards to reach 1.0500.
Yesterday, being influenced by fundamental background, Pound completed the correction towards two descending impulses. We think, today, the price may form another impulse to reach 1.5144 and then test 1.5200 from below. After that, the instrument may continue falling inside the downtrend towards 1.5000.
Franc is consolidating at the top of its ascending wave. We think, today, the price may fall to test 1.0040 from above and then continue growing inside the uptrend to reach 1.0247. After that, the instrument may test 1.0185 from above and then move upwards again to reach 1.0400.
Yen is consolidating at the top of its ascending structure. We think, today, the price may break this consolidation channel upwards and reach 123.84. However, if the pair breaks it downwards, the market may start a new correction towards 122.80.
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Australian Dollar is consolidating. We think, today, the price may break the channel upwards and form another ascending structure with the target at 0.7200. After that, the instrument may fall towards 0.7000. However, if the market breaks the channel downwards, the pair may reach 0.7000 at first and then grow towards 0.7200.
Ruble is moving downwards. We think, today, the price may reach 64.84 and then return to 65.82. After that, the instrument may form another descending structure with the target at 63.60.
Gold has expanded its consolidation channel downwards. We think, today, the price may return to 1080 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend to reach the target at 1015.
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.