19 November, 2013
Euro continues forming the third structure inside ascending wave; right now market is moving inside the last ascending structure towards local target at 1.3570. We think, today price may reach it and then start falling down to return to 1.3440. Later, in our opinion, pair may complete this ascending wave by moving upwards and reaching 1.3590.
Pound is still consolidating. We think, today price may leave this consolidation channel upwards and reach 1.6350. Later, in our opinion, pair may form new correction to return to 1.6100.
Franc broke its consolidation channel downwards and right now is forming descending structure with local target at 0.9080. We think, today price may reach it and then return to 0.9160. Later, in our opinion, pair may complete this descending wave by forming another descending structure and reaching 0.9070.
Yen completed first descending impulse and corrected it. We think, today price may form another descending structure to break minimum of the first impulse. Such scenario implies that market may start the third descending structure. Main target of this wave is at 98.50. Later, in our opinion, pair may form new correction towards 99.60 and then continue falling down.
Australian Dollar expanded its consolidation channel upwards and then returned into the middle. We think, today price may continue growing up towards local target at 0.9450 and then fall down to return to 0.9366. Later, in our opinion, pair may complete this wave by forming another ascending structure and reaching 0.9466.
Gold expanded its consolidation channel downwards. We think, today price may expand it upwards as well and, thus, form divergent triangle pattern, which may be considered as correctional structure with local target at 1300. Later, in our opinion, instrument may return into the middle of this channel at 1280 and then complete this ascending structure by growing up and reaching 1306. After that, market is expected to start new descending movement towards 1240.
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...