31 October, 2013
Euro is moving inside the descending channel; this movement may be considered as a correction towards the level of 1.3700. We can’t exclude a possibility that the pair may test the level of 1.3675. Later, in our opinion, the price may complete the correction and start a new ascending wave to reach new maximums. The target is at 1.3874.
Pound continues falling down inside a correctional wave We think, today the price may reach the level of 1.5986 and then form a new ascending wave to reach a new maximum.
Franc is still moving upwards; the market tested the level of 0.9021 from below. We think, today the price may test this level once again and then start forming a new descending wave to reach a new minimum and the target at 0.8880.
The USD/JPY currency pair formed an ascending structure and is not expected to continue moving upwards. We think, today the price may form a reversal pattern and start a new descending wave. The target is at 96.00.
After reaching a new minimum, Australian Dollar started an ascending impulse. We think, today the price may continue growing up and form head & shoulders reversal pattern. After breaking the neckline, the pair may complete the correction at the level of 0.9620.
Gold continues moving downwards; the market broke the minimum of the first descending impulse. We think, today the price may form a consolidation and then start head & shoulders reversal pattern. The local target is at 1315.
RoboForex Analytical Department
Eurodollar has almost reached the target of its ascending wave. We think, today, the price may continue forming its consolidation channel at the top of this ascending structure. Possibly, the pair may reach 1.0997...
Eurodollar is still forming an ascending structure, which may be considered as the fourth correctional one inside the descending wave. We think, today, the price may complete the current growth by reaching 1.0997 and then start falling to form the fifth structure with the target at 1.0752...
The euro dollar currency is trading with a decline today. The channel of the fourth component of growth is breaking through. The next step is the fifth with a target at the level of 1.0752. Next, we consider the possibility of the correction returning to the level of 1.0900...
Eurodollar has almost completed the correction. We think, today, the price may form another descending structure to reach 1.0752 and then return to 1.0900...
Eurodollar is consolidating close to Super Trends, which may soon form bearish cross to confirm a new decline of the price. The closest target is at the 0/8 level. If later the par breaks this level, it may continue falling much deeper...
Eurodollar has expanded its trading range downwards and returned to the center of the channel. We think, today, the price may be corrected towards 1.0914 to test it from below and the form another descending wave with the target at 1.0742...
After finishing the wave [a], the pair has started a new local correction. Earlier, the price completed the descending impulse in the wave 3 or C. Later, Eurodollar may complete the wave [b] and start forming the ascending impulse in the wave [c] of 4...
Eurodollar has finished another descending structure to expand its consolidation channel downwards. We think, today, the price may return to 1.0984. Later, in our opinion, the market may rebound from this level and continue falling inside the downtrend towards 1.0770...
Eurodollar is expanding its consolidation channel upwards. We think, today, the price may prefer to move according to an alternative scenario and grow to reach 1.1068. Later, in our opinion, the market may fall and expand the channel downwards to reach 1.0925...