20 May, 2014
EUR USD, “Euro vs US Dollar”
Euro is still consolidating; market expanded this consolidation channel upwards and downwards to levels of 1.3740 and 1.3680. We think, today price may leave this channel and continue growing up towards level of 1.3820.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still consolidating at the top of the fourth structure of its descending wave. We think, today price may complete this wave by forming the fifth structure towards level of 1.6655. Later, in our opinion, instrument may form reversal structure to continue moving upwards.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still forming ascending correction towards previous descending impulse. We think, today price may reach level of 0.8935, continue falling down to break level of 0.8880 and reach target at level of 0.8820.
USD JPY, “US Dollar vs Japanese Yen”
Yen is growing up towards level on 102.00. After reaching it, price may fall down towards level of 101.00 and then return to level of 101.70. Thus, market is forming consolidation channel as a continuation pattern to continue falling down. Target is at level of 100.00.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar reached target of its descending structure. We think, today price may start forming another ascending structure with target at level of 0.9415. If price rebounds from level of 0.9360 and reaches new minimum again, this descending movement may continue up to level of 0.9200. Later, in our opinion, instrument may start forming the third wave inside current descending trend.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues falling down; market completed the fifth wave. We think, today price may consolidate at current minimums and then form reversal structure to start new ascending wave. Next target is at level of 35.80.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating inside the fifth wave. We think, today price may continue growing up towards level of 1321. After reaching it, price may continue consolidating channel and form continuation pattern. Main target of this ascending movement is at level of 1435.
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...