Pound is still consolidating

November 4, 2013

EUR/USD

Euro finished a descending structure. We think, today the price may form a reversal structure for a new ascending movement to reach a new maximum. Later, in our opinion, the pair may fall down again and renew the current minimums. Only after forming such zigzag, the price is expected to continue an ascending wave towards the target at 1.4100.

GBP/USD

Pound is still consolidating. We think, today the price may return to the level of 1.6150 and then fall down towards the level of 1.6075. Later, in our opinion, the pair may start another ascending wave to reach the level of 1.6335.

USD/CHF

Franc has almost completed the correction. We think, today the price may form a reversal pattern for a new descending movement to reach new minimums. Later, in our opinion, the pair may grow up to renew the current maximum. Only after that, the price is expected to start another descending wave.

USD/JPY

The USD/JPY currency pair formed a reversal pattern and continues falling down towards its first target at 97.80. Later, in our opinion, the pair may return to the level of 98.20 and then continue falling dow towards the target at 96.25.

AUD/USD

Australian Dollar is still consolidating near the minimum of the first descending wave. We think, today the price may return to the level of 0.9620 and then start another descending wave. If the pair leaves this consolidation channel downwards, it will continue falling down towards the level of 0.9205. the short-term tendency is a descending one.

GOLD

Gold formed a reversal pattern and continues moving downwards. We think, today the price may return to the level of 1337 and then start falling down to reach the target of the first wave at 1314. Later, in our opinion, the instrument may form a correctional structure.

RoboForex Analytical Department

Publication source
RoboForex information  RoboForex reviews

January 23, 2017
The Week ahead: Politics to take center stage
Donald Trump is finally in power, a new era has arrived, and his policy plans in the first couple of weeks will override fundamentals. Markets spent more than two months pricing in growth policies promises, lowers corporate taxes, and deregulations, now it is time to deliver as markets will no more move on words but actions...
January 23, 2017
Dollar opens weak as markets cautious on the new Trump administration
The U.S. dollar continued to extend the declines for what could a third consecutive day. On Friday, Donald Trump took office as the 45th President of the United States...
January 20, 2017
The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...

Fort Financial Services Rating
XTB Rating
Grand Capital Rating
FIBO Group Rating
Trade360 Rating
Tickmill Rating

TropicalTrade Rating
UKoptions Rating
365BinaryOption Rating
Binary Brokerz Rating
OptionTrade Rating
OptionBit Rating