1 November, 2013
Euro finished a descending structure. We think, today the price may form a reversal structure for a new ascending movement to reach a new maximum. Later, in our opinion, the pair may fall down again and renew the current minimums. Only after forming such zigzag, the price is expected to continue an ascending wave towards the target at 1.4100.
Pound is still consolidating. We think, today the price may return to the level of 1.6150 and then fall down towards the level of 1.6075. Later, in our opinion, the pair may start another ascending wave to reach the level of 1.6335.
Franc has almost completed the correction. We think, today the price may form a reversal pattern for a new descending movement to reach new minimums. Later, in our opinion, the pair may grow up to renew the current maximum. Only after that, the price is expected to start another descending wave.
The USD/JPY currency pair formed a reversal pattern and continues falling down towards its first target at 97.80. Later, in our opinion, the pair may return to the level of 98.20 and then continue falling dow towards the target at 96.25.
Australian Dollar is still consolidating near the minimum of the first descending wave. We think, today the price may return to the level of 0.9620 and then start another descending wave. If the pair leaves this consolidation channel downwards, it will continue falling down towards the level of 0.9205. the short-term tendency is a descending one.
Gold formed a reversal pattern and continues moving downwards. We think, today the price may return to the level of 1337 and then start falling down to reach the target of the first wave at 1314. Later, in our opinion, the instrument may form a correctional structure.
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...