Analysis for May 27th, 2014
EUR USD, “Euro vs US Dollar”
Euro is moving upwards to reach level of 1.3678 and test it from below; market may even reach level of 1.3707. After that, price may complete this descending wave by forming another structure with target at level of 1.3580. Later, in our opinion, instrument may form reversal pattern and then start new ascending movement.
GBP USD, “Great Britain Pound vs US Dollar”
Pound returned to level of 1.6865. We think, today price may fall down to reach level of 1.6808 and then return to level of 1.6865 again. Later, in our opinion, instrument may form another descending structure towards level of 1.6655. Alternative scenario implies that pair may continue moving upwards.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving downwards with target at level of 0.8920. After reaching it, price may grow up towards 0.8979 and then form another descending structure to reach level of 0.8900. Later, in our opinion, instrument may continue growing up towards level of 0.900.
USD JPY, “US Dollar vs Japanese Yen”
Yen is still moving near maximum of its ascending structure; which may be considered as a part of continuation pattern. We think, today price may continue falling down to reach level of 100.50. Later, in our opinion, instrument may return to level of 101.70 and then start new descending movement towards level of 99.30.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is still consolidating and forming continuation pattern to continue moving downwards. We think, today price may reach level of 0.9135. Later, in our opinion, instrument may test level of 0.9200 from below and then continue falling down towards level of 0.9000.
USD RUB, “US Dollar vs Russian Ruble”
Ruble is still moving inside descending channel. We think, today price may test level of 34.40 from below. Later, in our opinion, instrument may continue falling down towards level of 33.16.
XAU USD, “Gold vs US Dollar”
Gold wasn’t traded yesterday. Today, after the market opening, price may continue growing up towards level of 1435.
RoboForex Analytical Department