12 May, 2014
Euro is still moving inside descending structure, which may be considered as correction with just one descending impulse at the moment. We think, today price may return to level of 1.3867 and then form another descending structure inside this correction towards level of 1.3700. Later, in our opinion, instrument may start forming wider consolidation channel.
GBP USD, “Great Britain Pound vs US Dollar”
Pound reached its target and broke ascending channel. We think, today price may return to level of 1.6915. Later, in our opinion, instrument may continue this correction; next target is at level of 1.6740.
USD CHF, “US Dollar vs Swiss Franc”
Franc formed one ascending impulse. We think, today price may correct this impulse towards level of 0.8787. Later, in our opinion, instrument may start forming wide consolidation channel and then reversal pattern to continue moving upwards. Target is at level of 0.8955.
USD JPY, “US Dollar vs Japanese Yen”
Yen broke minimum of its descending impulse and right now is still forming consolidation channel. We think, today price may break minimums and reach level of 101.00. Later, in our opinion, instrument may return to level of 102.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming the first descending impulse towards level of 0.9340. Later, in our opinion, instrument may return to level of 0.9360 and then continue moving downwards to reach level of 0.9200.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still forming ascending structure and returning to level of 35.40. After reaching it, price may form another descending structure towards target at level of 34.70 and thus complete this descending wave. Later, in our opinion, instrument may form reversal pattern to start new ascending wave towards level of 37.50.
XAU USD, “Gold vs US Dollar”
Gold expanded its consolidation channel downwards and right now is forming another ascending impulse, which may continue up to level of 1300. Later, in our opinion, instrument may return to level of 1290 and then start another ascending wave to reach level of 1320.
RoboForex Analytical Department
The British Pound continues to grow on Wednesday. The currency is rather actively moving away from the previous local minimum. The current quotation of the GBP/USD pair is 1.5310. No one is talking about the pound moving above 1.55 yet there are too many external risks to which investors are not paying attention...
On Wednesday, the Japanese yen sharply strengthened in trading. Correction of the long-term low started on Monday, but enthusiasm by itself was not enough. And this morning there was a reason to continue selling in the USD/JPY pair...
Yesterday the euro/dollar "took advantage" of weak statistics from ADP in the US and moved up to new highs...
By the end of the week the USD/JPY pair stopped falling as significantly as was observed...
After a short pause, the main currency pair is dropping again – sympathy of investors remains...
After a frantic and nervous January the euro/dollar seems to have...
The Eurocurrency needs very little for happiness: good statistics - and the main currency pair jumps up...
Euro has returned to test triangle pattern from below. We think, today the price may fall towards level of 1.2400 and then form a consolidation channel. If later the channel is broken downwards, the pair may move downwards to reach level of 1.2200...
Euro is forming the third ascending structure. We think, today the price may reach the target at level of 1.2900 and then start a new correction towards 1.2670...