Ruble Trades Inside Ascending Channel
RoboForex | Jun 18, 2014 01:56PM ET
The EUR/USD continues to hold within a consolidation. Today’s expectation is growth to 1.3586 level or higher. Then we expect developing ascending trend with 1.3676 as a target. In case it happens, market might enter the consolidation phase.
The GBP/USD is continuing to consolidate around highs, for today possible scenario is decline with 1.6900 as a target. In case it happens, we expect growth to resume to 1.7000 area. In case this area is accepted, 1.7115 target will likely be tested.
The USD/CHF is developing within consolidation structure. We believe that today’s price action will be descending with test of 0.8957 area. Therefore, basic scenario for the present time will be descending trend.
The USD/JPY continues to form correctional «flag» formation according to our models. 102.30 is a possible target. Then growing channel can be broken out with further development of 3rd growing wave and hitting 99.30
The AUD/USD continues to move within declining channel. Basic scenario for this currency pair is development of bullish structure with possible target of 0.9465. In case it happens, we will assume that next movement will be declining with 0.9270 as a target.
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The USD/RUB is trading inside ascending channel. In case this channel is broken out, possible target is 33.94. Next movement can exist if the form of 4th wave as a correction from 35.00 level. After that, in case it happens, 5th declining wave can develop with possible target of 33.20
The XAU/USD (Gold) has completed its descending impulse. For today correctional scenario is dominant according to our models with possible target of 1272.92. Next target is 1208.00 level
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