Article By RoboForex.com
The EUR/USD pair has completed a correction move. For today we’d expect a consolidation range to be developed and the pair to move towards 1.1435. If this range is broken through downwards, we’d look into a third wave to be developed towards 1.1372. And this will be seen as a half of the wave only. After a yet another consolidation phase is completed, the pair can move lower towards 1.1275. The target is the same as previously calculated.
The GBP/USD pair has almost achieved its target for the ascending wave. Another move for the pair is development of a consolidation range with a reversal pattern. The price can hit new highs while forming the range. We can also see an elongation of the chart towards 1.3250. However, we see start of a downward move along the trend as the main scenario. The first calculated target is on 1.2825 level.
The USD/CHF pair has completed its descending wave. For today we’d be expeting the ascending move to keep going to raise the pair towards 0.9681. Then a correction move towards 0.9650 can be expected. After that, the pair can move higher to hit 0.9710.
The USD/JPY pair has broken a yet another consolidation range from top downward. In our opinion, the level 112.15 can be achieved as a result of the next move. Then the price can be corrected and hit 113.30. After that, the 3rd descending wave can occur to hit 110.90 level.
The AUD/USD pair has worked out its ascending wave’s target. Currently, the price is moving within a consolidation range. For today we’d expect a possible breakthrough downwards to hit 0.7755. Then the price can be corrected and hit 0.7795. After that, the downtrend can continue and price can hit 0.7500 level.
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The USD/RUB pair – for today we’d expect the pair to work out it target at 58.91 level. Then the pair can rise towards 59.95. After that the pair can develop a 3rd component to lower the price to 55.50. The level 56.65 serves as a local target.
Gold has worked out its ascending wave’s target. For today, we’d expect a consolidation range to be developed around the 1230 mark. If the pair breaks through this range from top downwards, a correction move can occur which may lower the price to 1217. If the range is broken from the bottom upwards, the pair can rise to 1244. The target is a local one.
Oil has worked out its upwards wave’s target. For today we’d consider a consolidation range to be developed. If the price breaks through this range from top downwards, a correction move towards 47.50 can occur. If the upper edge of this range is broken through, the pair can gain power to work out 50.20 level.
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.