Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar has completed the correction and right now is forming another descending impulse. We think, today the price may test 1.1315 and then fall to reach 1.1200 (at least). After that, the pair may be corrected towards 1.1315.
Pound has extended its ascending structure; it is attempting to form an upside continuation pattern. In order to confirm the pattern, today the price must test 1.4420 from above. After breaking the maximum, the pair may grow towards 1.4830 (an alternative scenario). However, if the pair breaks 1.4400 downwards, the downtrend will continue.
Franc has completed the first structure of the correction; the structure may be considered as the minimum for this correctional wave. Right now, the pair is returning to the center of this descending structure at 0.9756. This trading range may be considered as a consolidation channel. If the channel is broken upwards, the market grow to reach 1.0000; if downwards – the correction may continue up to 0.9620.
Yen has finished the descending impulse and corrected it, and right now is falling. We think, today the price may reach a new low and then continue falling inside the downtrend towards 109.00, thus forming the first structure inside another descending wave with the target at 104.00.
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Australian Dollar has fallen fast and reached the target of the first descending wave. We think, today the price may be corrected towards 0.7732 to test it from below and then continue falling inside the downtrend with the target at 0.7500.
We think, today Russian Ruble may reach a new low at 64.00. Later, in our opinion, the market may be corrected towards 69.30 to test it from below.
Gold has reached the target of the correction. Possibly, the price may form another ascending structure towards 1249. Later, in our opinion, the market may form the third descending wave to reach 1208.
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.