29 May, 2014
Euro is still moving inside descending structure. We think, today price may reach level of 1.3585 and then grow up towards level of 1.3650 to test it from below. Later, in our opinion, instrument may start forming another descending structure with target at level of 1.3580.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is still falling down and extending the fifth structure of this wave. We think, today price may reach target at level of 1.6655 and then form consolidation channel to form reversal structure. Later, in our opinion, instrument may break descending channel and continue goring up. Alternative scenario implies that pair may continue extending this structure downwards.
USD CHF, “US Dollar vs Swiss Franc”
Franc is still forming ascending structure towards level of 0.8995. After reaching it, price may test level of 0.8946 from above. Later, in our opinion, instrument may start forming another ascending structure towards level of 0.9000.
USD JPY, “US Dollar vs Japanese Yen”
Yen is falling down. We think, today price may continue falling down to reach level of 101.30. Later, in our opinion, instrument may return to level of 101.70 and then start forming the third wave with local target at level of 99.30.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar completed correctional flag pattern. . We think, today price may start forming another descending structure to break level of 0.9200 and then reach level of 0.9135. Later, in our opinion, instrument may test level of 0.9200 from below and then continue falling down towards level of 0.9000.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues forming continuation pattern; market has already reached predicted target of the right part of this pattern. We think, today price may continue falling down towards level of 33.16.
XAU USD, “Gold vs US Dollar”
Gold reached target of central part of continuation pattern. We think, today price may form another ascending structure to test level of 1299 and then start falling down towards level of 1208. Later, in our opinion, instrument may start new ascending wave to break level of 1300.
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...