Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar has almost completed the correction inside its consolidation channel and right now is moving downwards. We think, today, the price may reach new lows at 1.0500. Later, the pair may test 1.0540 and then continue falling inside the downtrend with the target at 1.0300.
Pound has finished the first ascending impulse and corrected it, thus defining the borders of a new consolidation structure. If later this channel is broken upwards, the market may continue the correction to reach 1.5255; if downwards – continue falling inside the downtrend towards its next target at 1.4880.
Franc has completed its correction and right now is moving upwards. We think, today, the price may break the top, reach 1.0343, and then continue growing inside the uptrend to reach its next target at 1.0400.
Yen is still consolidating around 123.00. We think, today, the price may grow to reach 123.70 and then return to 123.00 to test it from above. After that, the pair may continue growing to reach 124.50.
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Australian Dollar has almost reached its upside local target. We think, today, the price may be corrected downwards to reach 0.7200 and then continue growing towards 0.7400.
Russian Ruble is moving close its top. We think, today, the price may stop consolidating and move towards the lower border to start another descending wave with the target at 60. Alternative scenario implies that the market may reach new highs and then start a new decline.
Gold has almost completed its correction and right now is falling. We think, today, the price may break 1064 and then continue falling inside the downtrend to reach the next target at 1048. After that, the instrument may form another consolidation channel. The main target is 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.