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Forex Technical: Ruble Breaks To The Downside

Published 06/20/2014, 12:54 PM
Updated 03/16/2022, 05:50 AM

The EUR/USD is continuing to move in ascending impulse with 1.3660 as a target. Breakout of 1.3680 is not excluded. After that possible scenario is correction to 1.3580. In case it happens, we may see further growth and breakout of 1.3680 with further bullish structure having projected target of 1.3850

EUR/USD Hourly Chart

The GBP/USD is moving within ascending impulse. For today I expect that price will achieve 1.7070 or higher. Then correction to 1.7000 will be possible. In case it happens, growth will be possible with 1.7115 as a target. In case everything of described above happens, I expect bullish structure to be completed and bearish correction to be initiated.

GBP/USD Hourly Chart

The USD/CHF is probably developing inside bearish structure. For today I expect achieving target of 0.8890 or lower. After that consolidation with further bearish structure is expected. Target of his wave is considered to be at 0.8780.
USD/CHF Hourly Chart


The USD/JPY had broken out correctional channel and probably continues to move inside bearish structure. For today, I assume that 101.00 level can be achieved. After that 101.70 can be tested from below. In case everything of described above happens, I will expect bearish structure development with 100.50 as a target.

USD/JPY Hourly Chart

The AUD/USD continues to move within bullish structure with 0.9460 as a target. If this target will be achieved, I will expect correctional move to 0.9270 level. In case it happens, new bullish wave will be possible with 0.9480 as a target. Downtrend can be resumed after that.

AUD/USD Hourly Chart

The USD/RUB as broken out triangle to the downside and tested breakout line from below. For today I expect that downtrend is to be continued with possible target of 33.94. In case it happens, I will expect development of 4th correctional wave with target of 35.00. Later I will expect declining wave with 33.20 as a target.

USD/RUB Hourly Chart

XAU/USD is continuing to develop within ascending impulse with elongation of 4th wave. For today I assume that ascending channel can be broken out with further development of declining wave with possible target of 1208. The whole structure looks like bullish pennant formation. Potential of this structure can be realized only after another declining wave.

Gold Daily Chart



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