Technical Analysis: Pound Forms Descending Impulse
RoboForex | Apr 11, 2014 11:59AM ET
EUR/USD
The euro expanded its consolidation upwards and is still moving inside ascending channel. We think, today the the price may fall down to expand this consolidation channel downwards. The first target is at level of 1.3754.
GBP/USD
The pound continues forming descending impulse. We think, today the price may reach the first target at level of 1.6740, grow up to return to 1.6780, and then continue falling down towards level of 1.6640.
USD/CHF
The Franc is still moving inside descending structure. We think, today the price may fall down to reach level of 0.8730 and then start new correction towards level of 0.8840.
USD/JPY
The yen is still consolidating; market completed another descending structure and reached new minimum. We think, today the price may continue falling down towards level of 100.00 without returning to level of 103.00. Alternative scenario implies that pair may start new correction towards level of 103.00 and only after continue moving downwards to reach level of 100.00.
AUD/USD
The Australian dollar is forming the second descending impulse. We think, today price may correct this impulse towards level of 0.9400 and then form the third descending wave with target at 0.9330. Later, in our opinion, instrument may continue forming head & shoulders reversal pattern by moving towards level of 0.9400. Target of this pattern is at 0.9150.
Get The News You Want
USD/RUB
The Ruble is still being corrected towards level of 35.33. Later, in our opinion, instrument may ascending wave to break level of 35.80 and then continue growing up towards local target at level of 36.20.
XAU/USD
Gold is still consolidating near level of 1320. We think, today price may form reversal pattern to start new correction towards level of 1295. Later, in our opinion, instrument may start new ascending movement towards next target at 1357.
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.