Technical Analysis: Pound Moving Towards 1.6655
RoboForex | Jun 02, 2014 10:09AM ET
EUR/USD
The euro continues moving inside descending channel, which has changed the angle of slope very. Today the price may reach level of 1.3575, form another ascending wave to test level of 1.3650 from below, and then complete this descending structure by moving downwards again towards level of 1.3570. Later, in our opinion, instrument may form reversal pattern to continue growing up.
GBP/USD
The pound is still falling down; market has already broken another correctional channel downwards and right now is moving downwards to reach level of 1.6655. Today the price may reach it and complete this descending wave. Later, in our opinion, instrument may form reversal pattern and continue growing up to break level of 1.7000.
USD/CHF
The franc is forming ascending impulse. Today the price may continue growing up to reach level of 0.8995, return to level of 0.8946, and then complete this ascending wave by form another ascending structure with target at 0.9010. Later, in our opinion, instrument may form reversal pattern and continue falling down.
USD/JPY
Market was opened with gap up this morning; Yen is growing up towards level of 102.20. After reaching it, price may continue falling down to reach level of 100.50 and then return to level of 101.60.
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AUD/USD
The Australian dollar returned inside into its consolidation channel. Today the price may fall down to reach level of 0.9200, consolidate for a while, and then form continuation pattern to continue moving downwards. Main target is at local level of 0.9000.
USD/RUB
Market was opened with gap up. Today the price may form ascending structure with target at level of 35.35 and then fall down to reach new minimum. Later, in our opinion, instrument may form reversal pattern to continue growing up towards level of 38.50.
XAU/USD
Gold continues forming descending structure; previous correction wasn’t supported and market reached new minimum again. Today the price may move downwards to reach level of 1213 and then return to level of 1261. Later, in our opinion, instrument may start new descending structure. Main target of this descending wave is at level of 1208.
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