Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Being influenced by the news, Eurodollar has started a correction. The market has almost reached the target of the fourth wave. The main scenario remains the same – today the price may continue falling inside the downtrend and start the fifth wave with the target at 1.0300. The first target is at 1.0768.
Pound is being corrected. We think, today, the price may fall towards 1.5071. Later, the correction may continue to reach 1.5250 (an alternative scenario). After that, the instrument may continue falling to reach 1.4848.
Franc has almost completed the fourth correctional structure. We think, today, the price may start forming the fifth wave to reach 1.0530.
Yen is consolidating. We think, today, the price may grow to reach 123.80. After that, the pair may return to 123.00.
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Australian Dollar is still consolidating. We think, today, the price may be corrected towards 0.7200 and then continue growing to reach 0.7400.
Russian Ruble is expected to return to 66.48 today. After that, the pair may continue forming its descending wave towards 60.00. An alternative scenario implies that the market may reach a new high and then continue falling towards 60.00.
Gold has completed its ascending correction. We think, today, the price may fall to reach 1043.45 and then return to 1059.00 to test it from below. After that, the instrument may fall towards 1015.00.
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.