Ruble May Continue Towards 35.00
RoboForex | Jul 07, 2014 12:28PM ET
The euro is still moving inside descending channel, which may be considered as correction. Today the price may form reversal structure to start new ascending wave with target at level of 1.3700. Later, in our opinion, instrument may return to level of 1.3600. Alternative scenario implies that instrument may continue forming descending structure.
The pound is still inside narrow consolidation channel and isn’t going to move downwards. Today the price may continue growing up towards level of 1.7250. Later, in our opinion, instrument may form another consolidation channel and continue current ascending with target at level of 1.7730.
The Swiss franc continues moving inside ascending channel. Today the price may form reversal structure to continue falling down. Target is at level of 0.8830.
The yen is still moving upwards. Today the price may reach level of 102.30, consolidate for a while, and then form reversal pattern. Later, in our opinion, instrument may start another descending wave with target at level of 101.00.
The Australian dollar is consolidating. Today the price may form ascending structure towards level of 0.9400. Later, in our opinion, instrument may start falling down again to reach of 0.9300.
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The ruble broke its consolidation channel upwards. Today the price may test this level from above and then continue growing up towards level of 35.00. Market has almost completed continuation pattern near level of 34.26. By reaching level of 35.00 pair may finish the fourth wave of flag pattern. Later, in our opinion, instrument may form the fifth wave of this pattern with target at level of 33.20.
Gold is still moving inside ascending structure with target at level of 1337. Today the price may form correction towards level of 1308 and then start growing up to reach above-mentioned target. Later, in our opinion, instrument may continue falling down towards level of 1208.
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