Forex Technical Analysis: May 30, 2014
RoboForex | May 30, 2014 08:09AM ET
Euro continues falling down. We think, today price may reach the level of 1.358 grow up towards level of 1.3650 to test it from below, and then move downwards again to reach level of 1.3575. Later, in our opinion, instrument may start consolidating and form reversal pattern to continue growing up towards target at level of 1.4100.
GBP/USD, “Great Britain Pound vs US Dollar” Pound started forming consolidation channel. We think, today price may continue falling down to reach target at level of 1.6655. Possibly, pair may expand this channel upwards towards level of 1.6780. Later, in our opinion, instrument may continue falling down towards its main target.
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 and then form another ascending structure with target at 0.9010. Later, in our opinion, instrument may consolidate for a while and form reversal pattern to continue falling down.
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.
Get The News You Want
AUD/USD, “Australian Dollar vs US Dollar”Australian Dollar completed correctional flag pattern. We think, today price may break the pattern upwards and extend it up to level of 0.9326. Later, in our opinion, instrument may move towards level of 0.9200 to break it and then continue falling down towards local target at 0.9000.
USD/RUB, “US Dollar vs Russian Ruble”Ruble continues tested its broken channel from below. 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 upwards.
RoboForex Analytical Department
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.