17 December, 2013
Euro is still moving inside consolidation channel; market is forming ascending structure to reach level of 1.3838. We think, today price may start new correction with target at 1.3700 (minimum) or even 1.355 (maximum). We should note, that at daily chart this ascending wave is strong enough to reach level; of 1.4100 without any correctional structures.
Pound continues moving upwards to reach 1.6400. After reaching this target, pair may start new descending correction towards 1.6070 and then continue forming ascending wave to reach 1.7150.
Franc is still consolidating. We think, today price may continue falling down to reach new minimum and level of 0.8820 and then form new ascending structure to return to 0.8960. Later, in our opinion, pair may continue falling down. If market rebounds from level of 0.8867 and reaches new minimum, down- trend will continue towards level of 0.8300.
Yen continues forming narrow consolidation channel. We think, today price may fall down to reach level of 102.58 and then return to 103.37. Later, in our opinion, downtrend may continue; closest target is at 100.70.
Australian Dollar is still moving inside narrow consolidation channel. Market is not able to form any ascending impulses for new correction, which means that down trend may continue and reach level of 0.8720. Only after reaching it, pair may start correction.
Gold continues moving upwards slowly. We think, today price may complete ascending structure towards level of 1257. This structure may be considered as correctional one. Later, in our opinion, instrument may continue falling down to reach 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...