11 December, 2013
Euro continues forming consolidation channel near its top. We think, today price may form another ascending impulse to renew current top and reach level of 1.3800. Later, in our opinion, pair may form new descending impulse and form reversal pattern to start new correction towards 1.3555 (at least).
Pound continues forming consolidation channel near its maximums; this ascending structure may yet continue. Descending impulse isn’t strong enough to continue this correction. We think, today price may reach new maximum at 1.6470 and then start new descending impulses to form reversal pattern for new correction. Target is at 1.6160.
Franc continues consolidating near its minimums. We think, today price may reach new minimum at 0.8820 and then start new ascending impulses to form reversal pattern for new correction towards 0.9070. Later, in our opinion, pair ay continue moving inside descending trend.
Yen broke its consolidation channel downwards and may start forming new descending wave; however, first descending impulses aren’t strong enough to continue down trend. We think, today price may form another ascending impulse to reach 103.47 and then start new descending impulses and reversal pattern. Pair is going to form five-wave structure with target at 93.50.
Australian Dollar completed its ascending movement. We think, today price may form five-wave correctional structure towards 0.9060, which may be considered as head & shoulders pattern. Later, in our opinion, pair may continue moving upwards to break level of 0.9168. Target is at 0.9344.
Gold is forming ascending correction towards target at 1273. We think, today price may fall down to 1242 and then complete this correction by moving upwards to reach above-mentioned target. Later, in our opinion, instrument may start falling down towards 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...