Article By RoboForex.com
EUR USD, “Euro vs US Dollar”
The EUR/USD pair has formed the first half of the third descending wave. We think, today the price may continue forming the consolidation channel near 1.1251. Later, in our opinion, the market may break channel downwards and form the second half of the wave. The local target is at 1.1140.
The GBP/USD pair is forming another descending impulse. The market is expected to form one more descending structure towards 1.3070. This structure may considered as the part of the wave with the target is at 1.2800.
The USD/CHF pair has broken the neckline of the head & shoulders reversal technical pattern. We think, today the price may consolidate around 0.9654. Later, in our opinion, the market may move upwards to form the second part of this ascending wave. The upside target is at 0.9717.
The USD/JPY pair is still consolidating. In fact, the market is forming the triangle pattern. Possibly, the price may be corrected upwards to reach 101.15. However, the main scenario implies that instrument may continue falling inside the downtrend. The next local target is at 98.00; the main downside target is at 96.00.
Free Reports:
The AUD/USD pair is trading close to 0.7616, which was earlier broken downwards. Possibly, the price may be corrected towards 0.7666. . However, the main scenario implies that instrument may continue falling towards the next target at 0.7566.
The USD/RUB pair has almost completed its ascending correction. Taking into account that the oil market is also being corrected, the price is expected to consolidate inside an upside continuation pattern towards 65.70.
Gold has reached the target of the descending wave. We think, today the price may grow towards 1321. In fact, the market is expected to test the downside border of the consolidation range. After that, the instrument may move upwards with the target at 1357.
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.