11 June, 2014
Euro completed three-wave descending correction and may form diamond pattern. We think, today price may start new ascending movement to break the top of the structure formed earlier and then continue moving upwards. Main target of this ascending movement (considered as the fifth wave) is at level of 1.4100.
GBP USD, “Great Britain Pound vs US Dollar”
Pound finished another descending structure, which may be considered as correction. We think, today price may move upwards to reach level of 1.6850 at least, or even 1.6880. Later, in our opinion, instrument may form another descending structure towards level of 1.6655 and then form reversal pattern for new ascending wave to break level of 1.7000.
USD CHF, “US Dollar vs Swiss Franc”
Franc completed ascending wave. We think, today price may form descending structure to break ascending channel downwards and reach level of 0.8800. It looks like pair formed diamond reversal pattern, which means that descending trend may continue. Main target of descending wave is at level of 0.8300.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still forming descending structure; which may be considered as extension of the third wave. We think, today price may reach local target at level of 102.00 and then return to level of 10.240 to test it from below. Later, in our opinion, instrument may continue falling down towards next target at level of 100.50. Local target of the third wave is at 99.30.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is breaking triangle pattern upwards and may continue moving according to alternative scenario. We think, today price may grow up to reach level of 0.9460 and then continue falling down towards next target at level of 0.9000.
USD RUB, “US Dollar vs Russian Ruble”
Ruble continues falling down to reach level of 33.90. After reaching it, price may return to level of 35.00 and then complete this wave by forming another descending wave towards level of 33.20. Later, in our opinion, instrument may start new ascending trend. Target is at level of 38.50.
XAU USD, “Gold vs US Dollar”
Gold finished its ascending structure. We think, today price may continue forming descending wave with local target at level of 1213. Later, in our opinion, instrument may return to level of 1260 to test it from below and then start another descending movement towards level of 1208.
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...