Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
Eurodollar is still falling. We think, today the price may reach a new low and then return to 1.1240 to test it from below. Later, in our opinion, the market may continue falling inside the downtrend to reach 1.1070.
Pound is falling towards the target at 1.4000. Right now, the market is forming another continuation pattern, which may be considered as a part of the fifth wave. After breaking the consolidation range, the price may fall to reach the above-mentioned target. Possibly, this wave may even be extended up to 1.3950.
Franc is still consolidating. The main scenario implies that the uptrend may continue. We think, today the price may break the top of the consolidation range. The first upside target is at 0.9715. After that, the pair may form another consolidation range, break it upwards, and then continue growing inside the uptrend towards 0.9950.
Yen is moving in the center of another consolidation range. The price is expected to break it downwards and reach 104.00. Later, in our opinion, the market may start a new correction towards 113.00.
Free Reports:
Australian Dollar is still consolidating below the broken ascending channel. The target is at 0.7300. After that, the pair may return to 0.7430.
Russian Ruble has broken the descending channel and right now is moving in the center of its ascending wave. We think, today the price may continue growing with target at 67.70.
Gold is consolidating at the top of its ascending structure. Probably, this structure may be extended towards 1293. Later, in our opinion, the market may fall inside the downtrend to break 1271. The first target is at 1250.
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.