11 November, 2013
Euro continues falling down; pair is expected to extend and reach 1.3265. Previous descending movement from 1.3544 may be considered as five-wave structure. We think, today the price may consolidate inside this triangle and then continue moving downwards to reach main target of this wave.
Pound is moving inside descending wave with target at 1.5900. We think, today the price may form consolidation channel near current levels and then continue falling down towards main target of the fifth wave.
Franc is still moving upwards; however, this is wave is becoming weaker. The pair formed impulse to leavetriangle pattern, and structure of impulse implies that it may continue growing up to reach 0.9256. We think, today the price may consolidate near 0.9200 and then make another ascending movement towards 0.9256. Later, in our opinion, the pair may form reversal structure to continue down-trend.
Yen is still consolidating near 99.00. We think, today the price may continue falling down to reach 96.00 Alternative scenario implies that the market may grow up towards 99.80 and reach upper border of triangle from daily chart. Later, in our opinion, the pair may rebound from this border, start falling down fast to break lower border, and continue down-trend.
Australian Dollar is trading inside descending structure with target at 0.9210. We think, today the price may reach local target of this descending movement at 0.9295 and then return to 0.9480 to test it from below. Later, in our opinion, the pair may continue falling down towards main target at 0.9210.
Gold is moving downwards towards 1271. We think, today the price may reach local target at 1274, return to 1316 to test it from below, and then continue falling down towards main target at 1271. This whole movement is considered to be the first wave inside the fifth one.
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...