7 November, 2013
Euro is forming the second ascending impulse. We think, today the price may continue growing up to reach 1.3605 and then form a correction towards 1.3525. This structure will help market to define whether price is going to continue rising and forming the fifth wave.
Pound is still forming continuation pattern to continue moving upwards. We think, today the price may grow up and reach 1.6188 and then return to 1.6060. Later, in our opinion, the pair may move upwards again to reach 1.6228.
Franc is consolidating; market has left ascending channel. We think, today the price may continue falling down and reach the first target at 0.9025. Later, in our opinion, the pair may rise to return to 0.9090.
USD/JPY is traded near 98.70. We think, today the price may break minimum of the first descending wave and move towards 97.35. Later, in our opinion, the pair may consolidate for a while and then continue falling down. Main target is at 96.00.
Australian Dollar attempted to break upper border of consolidation channel and returned into the middle of its trading range. We think, today the price may try to expand lower border of the channel and then return into the middle again. Later, in our opinion, the pair may continue moving downwards to reach 0.9200. Alternative scenario implies correction towards 0.9620 and then falling down to reach above-mentioned target.
Gold is still consolidating. We think, today the price may reach upper border, then form descending structure to break lower border of this consolidation channel and continue falling down. Target is at 1277.
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...