18 December, 2013
Euro is still moving inside consolidation channel; market couldn’t form descending structure. We think, today price may continue moving upwards to reach level of 1.3815 and then start new correction towards 1.3700.
Pound formed triangle pattern inside its consolidation channel, broke it downwards, and right now is forminghead & shoulders pattern with target at 1.6100. We think, today price may test level of 1.6300 from below and then continue forming the second part of this descending wave, which may be considered as correction. Later, in our opinion, pair may start new ascending wave.
Franc is still moving downwards inside its consolidation channel. We think, today price may continue falling down to reach new minimum and level of 0.8820, return to level of 0.8960, and then move inside down trend again. If market rebounds from level of 0.8867 and reaches new minimum, it may continue falling down towards level of 0.8300.
Yen reached level of 102.58. We think, today price may form new correction in the form of five-wave flagpattern to return to level of 103.37. Later, in our opinion, pair may continue moving inside down trend.
Australian Dollar broke its trading range downwards and continues falling down. We think, today price may reach level of 0.8720 and then form new consolidation channel. Next target is at 0.8420.
Gold couldn’t start ascending structure; market formed triangle pattern. We think, today price may break pattern’s lower border and continue falling down to reach level of 1210 and then test level of 1230 from below. Later, in our opinion, instrument may complete this descending wave by falling down and reaching 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...
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