Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar is forming another descending structure. We think, today the price may reach 1.0840 and then start a correction towards 1.0911. Later, in our opinion, the market may continue falling to break 1.0682. The local target of this descending wave is at 1.0400.
Pound is still falling and reaching new lows. The downtrend may continue towards 1.4000. An alternative scenario implies that the pair may consolidate and form a correction with the target at 1.4400. Later, in our opinion, the market may continue inside the downtrend.
Franc is forming another ascending structure. We think, today the price may reach 1.0960. Later, in our opinion, the market may be corrected towards 1.0030 and then resume its growth to reach 1.0160.
Yen is still consolidating in the center of the channel. The main scenario suggests that the price may fall to break the minimum. The local target of this wave is at 115.33. Later, in our opinion, the market may consolidate and then continue falling inside the downtrend to reach 115.00.
Free Reports:
Australian Dollar is forming another descending structure; the local target is at 0.6660. Right now, the pair is testing 0.6910 from below. Later, in our opinion, the market may continue falling inside the downtrend to break 0.6700.
Russian Ruble is extending its ascending structure; the pair has reached the target at 78.50. Possibly, this extension may reach 79.90. In fact, the market is following the oil prices decline. The price isn’t expected to form a reversal pattern until the pair breaks the ascending channel.
Gold has corrected its descending wave. We think, today the price may fall towards 1080.84 and then consolidate. Later, in our opinion, the market may break this consolidation channel downwards and continue falling inside the downtrend to reach 1064.00.
RoboForex Analytical Department
Article By RoboForex.com
Attention!
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.