21 November, 2013
Euro completed its correction and right now is moving inside descending channel. We think, today price may consolidate at current levels and then break this descending channel to form the fifth ascending wave towards 1.3590.
Pound is still consolidating inside narrow triangle pattern. We think, today price may continue forming ascending structure towards 1.6350. Alternative scenario implies that pair may start correction to reach 1.5970 and then start moving upwards.
Franc completed its correction to the maximum degree. We think, today price may consolidate at current levels and then start forming the fifth descending structure with target at 0.9070.
Yen is still extending its ascending structure; however, market hasn’t formed any structures for significant ascending movement. We think, today price may fall down towards 99.00 to test it from above and then start new ascending movement to reach level of 101.20.
Australian Dollar expanded its consolidation channel downwards and continued current correction. We think, today price may from another wave, the fifth one, to reach 0.9460. Alternative scenario implies that pair may continue falling down towards 0.9210 and then start moving upwards to return to level of 0.9480.
Gold continues moving downwards; market is forming the fifth wave with target at 1195. We think, today price may reach it this target or even level of 1225, start consolidating, and then form reversal structure.
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...