According to eurusd forecast one of the scenarios is the following: the price will start forming the descending pattern with the target in the area of 1.25. There is a strong possibility that the market has defined a place for the 4th point of reference and we should expect the price to go back into the area of 1.3245. We will consider selling the pair starting from this area if there are reversal pattern at shorter periods of time. The other scenario is breaking of the descending channel upwards.
As we can see by gbpusd forecast Pound, like Euro, is moving in the area where the 4th point of reference is formed and we should expect the price to go back to the level of 1.5715. We can consider selling the GBP/USD pair starting from this area with the target of 1.5283. If the price leaves the channel, one can try to buy Pound with the tight stop.
Franc is behind the other currency pairs, the price is stuck at the level where the middle of the wave 3-4 is formed. If there are signals to buy the pair at shorter periods of time, one should consider opening long positions with the target in the area of 1.0350.However, according to technical analysis usd chf, Franc is yet to fall into the area of 0.9920, and after that the pair will start moving up.
The USD/JPY currency pair has reached all the targets of the daily descending pattern. By the moment the descending channel has been broken, thus indicating the area to buy the pair. Judging by usd jpy analysis you should expect the pair to fall into the area of 80.50 where, after the formation of the reversal signals at shorter periods of time, one can try to buy the pair. The target of the growth is the level of 87.15.
In case of New Zealand Dollar we can see the pattern which is similar to the EUR/USD currency pair: the price is testing the area where the 4th point of reference is formed. Judging by nzdusd forecast you should expect the pair to grow into the area of 0.7584 where we can try the tight stop sales with the target of 0.7300. However, if the descending channel is broken, we will try to buy New Zealand Dollar with the target of daily maximums.
Gold analysis also confirms that the EUR/USD currency pair will probably fall into the area of 1.25. At the daily online forex chart we can see “head & shoulders” reversal pattern forming with the target in the area of 1230.There is a possibility that the price will stay at these levels for some time until it completely forms the second shoulder. After that one should expect the development of the descending movement.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.