Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar has defined the borders of its consolidation channel; the market attempted to expand it both upwards and downwards. We think, today the price may grow towards the center of the channel at 1.1333. The main scenario implies that the pair may break the channel downwards and then continue falling to reach 1.1200.
Pound is consolidating. We think, today the price may grow towards 1.4375. If the pair breaks the minimum, the downtrend may continue to reach 1.4200; if the channel is broken upwards, the pair may grow towards 1.4455 (an alternative scenario). Later, in our opinion, the market may move downwards to reach 1.4200.
Franc has almost reached the target of its fifth ascending structure. We think, today the price may form another consolidation channel. Later, in our opinion, the market may break the minimum and start a new correction with the target at 0.9617.
Yen is still being corrected; the pair has broken 109.25 and formed a continuation pattern. We think, today the price may choose an alternative scenario, according to which the correction may be extended towards the local target at 110.60 and then fall to return to 109.00. Later, in our opinion, the market may form another ascending structure to reach 111.00 and then continue falling inside the downtrend towards 104.00.
Free Reports:
Australian Dollar has completed its first descending impulse. We think, today the price may be corrected towards 0.7780 and then break the minimum of the first impulse. The market is expected to form the first wave with the target at 0.7617.
Russian Ruble is forming the first ascending impulse. We think, today the price may continue consolidating inside the descending channel near its lows. If the consolidation range is broken upwards, the market may start an ascending correction to return to 69.50 (at least); if downwards – the pair may fall to reach 60.00.
Gold has reached the target of its ascending wave; the market has broken the channel of the fifth structure. We think, today the price may form another descending wave towards 1195. The first target is at 1233.
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.