25 November, 2013
Euro continues moving upwards. We think, today price may complete its first ascending wave by reaching 1.3590 and then start correction towards 1.3440. Later, in our opinion, pair may consolidate for a while, break maximum of the first wave, and then continue growing up to reach target at 1.3700.
Pound is still moving upwards; market has broken consolidation channel near 1.6195 upwards and may not start new correction right now. Later, in our opinion, pair may continue growing up to reach 1.6350 and then start falling down return to 1.6100.
Franc completed its first descending wave and right now is forming consolidation structure. We think, today price form correction towards 0.9150. However, alternative scenario implies that pair may rebound from 0.9110, reach new minimum, and then form continuation pattern to continue down-trend.
Yen is extending its ascending structure; market has broken triangle pattern, but is not expected to form continuation structure. We should note, that this wave may be stopped by any of resistance levels: 101.90, 102.60, or 102.90. If later pair isn’t able to form new correction from the first of these resistance levels, any ascending movement which follows may result in sharp decline within down-trend. In order to do this, market has to form pivot point, which in its turn, takes time.
Australian Dollar reached its minimum target of the fourth wave; right now market is still moving inside descending channel. We think, today price may continue falling down and extending this wave towards 0.9060. Later, in our opinion, pair may beak this descending channel and form reversal structure for new ascending wave with target at 0.9770.
Gold continues falling down towards 1195; instrument has formed consolidation channel at current minimums. We think, today price break it downwards to reach 1225 and then, before starting moving downwards again, form another consolidation channel.
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...