9 December, 2013
Euro extended the fifth wave and reached its target. We think, today price may form consolidation channel and form reversal pattern to start new correction towards level of 1.3460. The first target is at 1.3590.
Pound formed the first descending wave and corrected it. We think, today price may form the third descending wave with target at 1.6250. Later, in our opinion, pair may consolidate for a while and then from continuation pattern to continue current correction.
Franc continue moving downwards with target at 0.8900; after reaching it, market is expected to consolidate in previous descending channel and form reversal pattern for new correction towards level of 0.9076. We think, today price may reach above-mentioned target, start new ascending movement with the first target at 0.8990, and then fall down to reach 0.8950.
At daily chart, Yen formed the first descending impulse, which is strong enough to start new descending trend. We think, during this week, price correct this impulse, break its minimum, and then continue falling down. Alternative scenario implies that market may try to reach new maximum and then form new descending impulse.
Australian Dollar continue moving inside consolidation near its minimums; market managed to form two ascending impulses so far. We think, today price may fall down towards 0.9060, form another ascending impulse to reach 0.9137, and then move downwards to return to 0.9060. After market forms such trading range, we will assess this structure for future possible ascending wave with target at 0.9400. However, if price doesn’t form reversal pattern, pair may reach new minimum.
Gold continues moving downwards. We think, today price may fall down towards 1201 and then return to level of 1226 to test it from below. Later, in our opinion, instrument may complete this descending wave by moving downwards and reaching the level of 1195.
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...
|8||Fort Financial Services||67%|