22 May, 2014
EUR USD, “Euro vs US Dollar”
Euro is under pressure and continues falling down towards level of 1.3580; this descending structure may be considered as the fourth correctional wave. Later, in our opinion, instrument may start new ascending movement to reach level of 1.4100.
GBP USD, “Great Britain Pound vs US Dollar”
Pound formed ascending impulse. We think, today price may fall down to return to level of 1.6825 and then complete this five-wave correction by forming the fifth descending structure with target at level of 1.6655. Later, in our opinion, ascending trend may continue. Alternative scenario implies that pair may rebound from level of 1.6825, reach new top, and then continue forming ascending wave.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving upwards. We think, today price may reach new top at level of 0.8980. Later, in our opinion, instrument may continue falling down. Main target is at level of 0.8300.
USD JPY, “US Dollar vs Japanese Yen”
Yen reached level of 101.00 and right now is moving towards level of 102.00. The whole structure may be considered as continuation pattern, the third descending wave. Local target of this wave is at level of 99.20.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is forming continuation pattern to continue moving downwards. We think, today price may reach level of 0.9300, fall down towards to break level of 0.9200, and form the central part of this continuation pattern. Later, in our opinion, instrument may reach level of 0.9110, return to level of 0.9200 to test it from below, and then continue falling sown. Next target will be at level of 0.9000.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is moving upwards. We think, today price may continue growing up towards level of 37.50. Alternative scenario implies that pair may consolidate at current levels during the next several days. If market is able to form descending continuation pattern, pair may extend its descending movement up to levels of 33.40 – 33.00.
XAU USD, “Gold vs US Dollar”
Gold is still consolidating inside triangle pattern. Main scenario remains the same - price may continue growing up towards level of 1321. Later, in our opinion, instrument may consolidate for a while continue growing up towards 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...