Article By RoboForex.com
Analysis for November 17th, 2014.
Formation of trend reversal against USD
Main currency pairs and Gold started formed a trend reversal against USD at different times.
The first two pairs to indicate a possible trend reversal were Australian and Canadian Dollars. About 10 days ago, they started forming wedge-like structures, thus making it clear that the direction of the trend was about to change.
After them, last Friday Euro, Swiss Franc and Gold also started to reverse by forming a good truncation, which may indicate the strength of a new trend.
At the moment, Pound and Yen has just started a possible trend reversal, which in its turn doesn’t rule out the possibility that that price may change the ending of the previous trend.
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To win ~30 figures against USD – a possible perspective of the new trend
Below you can find several scenarios, which imply that the phase of USD weakening may continue for quite a long time, thus allowing main currency pairs and Gold to win ~30 figures against USD.
We should note right away that it’s not the only possible scenario. Currency pairs may move in more complicated ways, which are described in our daily reviews.
However, at the present moment, the chart structures imply that the pairs may be starting a massive strengthening against USD – if this assumption is confirmed, one won’t want to miss this opportunity.
However, at the same time one should remember that any possible scenario is subjective and the market may move in a completely different direction.
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.
