Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar has broken its consolidation channel downwards and right now is falling to reach 1.0840. Later, in our opinion, the market may be corrected towards 1.0910 to test it from below and then form another descending structure with the target at 1.0682. This would be only a half of this descending wave.
Being under pressure to continue its decline, Pound is moving close to the current lows; in fact, the pair is forming another consolidation channel. If the channel is broken downwards, the wave may be extended up to 1.4080; if upwards – the price may be corrected to reach 1.4355.
Franc has formed another consolidation channel in the form of triangle pattern and broken it upwards. We think, today the price may continue growing towards 1.0096 and then fall to reach 1.0030 (as a correction). Later, in our opinion, the market may form another structure towards 1.0160.
Yen has almost completed the correction with the target at 117.95. Possibly, it may be extended up to 118.50. Later, in our opinion, the market may consolidate and then continue falling inside the downtrend to reach the local target at 116.34.
Free Reports:
Australian Dollar is testing its broken consolidation channel from below. This structure may be considered as a downside continuation pattern. The local target is at 0.6660. Later, in our opinion, the market may return to 0.6910.
Being influenced by the oil prices, Russian Ruble is moving downwards. We think, today the price may return to 77.00 and then grow to reach 79.70. Later, in our opinion, the market may start another decline with the target at 70.00.
Gold is falling to break 1088. We think, today the price may reach 1077 and then return to 1088. Later, in our opinion, the market may continue falling inside the downtrend to reach 1064.
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.