Article By RoboForex.com
GBP/USD currency pair has completed the first descending impulse. This impulse has enough strength to let the downtrend move even lower. For today, we can consider a possible correction towards 1.3391. Then we’d look into a possible break through the low of this impulse and continuation of the downtrend to reach 1.2800. The first target is 1.3150.
USD/CHF currency pair has completed an ascending impulse and its correction. For today we’d look into a possible break through the low of this impulse and further rise to reach 0.9940. The first target is 0.9800.
USD/JPY has completed its descending wave. At the moment the market is trading within an ascending structure. We see this rise as a correction move towards 102.73. Then the basic scenario is continuation of the downtrend to reach 98.00. We wouldn’t also exclude an elongation towards 104.50. And finally, there is another scenario – continuation of the downtrend towards 98.00. The target is a local one.
AUD/USD currency pair keeps trading in its consolidation range. Although the market is trying to update its highs, the next most possible scenario is breaking through the low of this range and declining towards the first target at 0.7600. That being said, we think that the whole wave should reach 0.7400.
USD/RUB currency pair has rebounded downwards from 64.41 level. We anticipate the pair to reach 63.93. When this is done, we’d consider yet another testing of 64.41 level from the bottom upwards. And then – falling down to reach 63.00.
Gold is still trading in the ascending wave to reach 1362. Currently the market has worked out the low of yet another rising structure’s correction move. We wouldn’t’ exclude continuation of the correction move towards 1329 and testing from top downwards. That being said, the basic scenario is continuation of the rise towards 1352. If it is broken, the pair will have strength to work out the next target at 1362.
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.
