14 November, 2013
Euro continues forming ascending structure; market is moving inside the third wave. We think, today price may fall down to test 1.3443 from above and then continue growing up to reach 1.3565. Later, in our opinion, pair may correct this third wave.
Pound is still moving upwards; market formed continuation structure near 1.5975 and may reach local target at 1.6070. Later, in our opinion, price may form descending correction to return to 1.5975 to test it from above and then start the fifth wave to reach 1.6095. This structure is considered to be trend wave. After correction, pair is expected to continue moving upwards.
Franc continues forming the third descending wave; right now market is in its middle and forming continuation pattern to continue moving downwards. Local target of this wave is at 0.9070. Later, in our opinion, pair may grow up to return to 0.9155 and then form another descending structure to reach 0.9060.
Yen is forming another ascending structure to reach new top. We think, today price may complete this structure and start new descending movement. The first target is at 99.00. Later, in our opinion, pair may form new correction towards 99.50 and then start falling down to reach 96.00.
Australian Dollar completed three-wave correctional structure. We think, today price may continue falling down to reach 0.9210 and then start new correction to test 0.9480 from below.
Gold broke descending channel. We think, today price may continue growing up to reach local target at 1300 and then return to broken descending channel. Later, in our opinion, instrument may complete the first ascending wave by moving upwards again and reaching 1305.
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...