12 November, 2013
Euro reached upper border of consolidation triangle and right now is moving towards lower one. We think, today the price may continue consolidating inside this triangle. Main scenario implies that later pair may leave this consolidation channel upwards. Alternative scenario suggests that Euro may reach new minimum and only after that start forming ascending wave. The first target is at 1.3544.
Pound continues moving inside its fifth descending wave with target at 1.5900. We think, today the price may continue consolidating inside narrowing range and then leave it downwards to reach above-mentioned target. Later, in our opinion, the pair may start forming ascending structure to reach 1.6100.
Franc is still consolidating inside triangle at the top of ascending wave. We think, today the price may continue consolidating. Main scenario implies that market may leave this consolidation channel downwards. Alternative scenario suggests that price may move upwards to reach new maximum and then start forming descending structure towards 0.9067 (at least).
Yen left its consolidation channel upwards. We think, today the price may reach 99.80, which is considered to be upper border of triangle from daily chart. Pair is expected to rebound from this level and continue falling down to break lower border and form descending wave towards 96.00.
Australian Dollar continues falling down towards target at 0.9210. We think, today the price may reach local target of this descending movement at 0.9295. Later, in our opinion, the pair may return to 0.9480 to test it from below and then continue moving towards main target.
Gold is still moving downwards to reach target at 1271. We think, today the price may reach local target at 1274 and then return to 1316 to test it from below. Later, in our opinion, the instrument may continue falling down towards its main target. This wave 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...