23 December, 2013
Euro is still consolidating channel near 1.3660; market has completed the first descending impulse and right now is forming continuation pattern to continue falling down. We think, today price may reach level of 1.3660, break it, and then continue moving downwards to reach level of 1.3560. After reaching this level, pair may form reversal pattern and start new ascending structure to break maximum of this wave. Main target of this wave is at 1.4100.
Pound is also still consolidating; this consolidation channel may be considered as continuation pattern with target at 1.6300. After reaching this level, pair may form reversal pattern and start new ascending structure to break maximum of this wave. Target is at 1.7150.
Franc is still forming ascending structure. We think, today price may complete current consolidation, move upwards to each target at 0.9050, and then fall down to return to 0.8950. Later, in our opinion, instrument may complete this ascending structure by making one more ascending movement to reach level of 0.9060 and then continue moving inside down trend towards target at 0.8680.
Yen finished the first descending impulse; right now market is forming consolidation channel inside the second one. We think, today price may continue falling down towards level of 103.00 and then form new correction to return to 103.70. Later, in our opinion, instrument may continue falling down. Main target of this wave is at 98.80.
Australian Dollar expanded its training range downwards. We think, today price may return to level of 0.8980 and then continue falling down towards 0.8720. Later, in our opinion, instrument may form new consolidation channel to continue moving inside down trend.
Gold is still moving towards level of 1220; this movement may be considered as the fourth wave of another descending structure. After that, instrument may form the fifth wave of this final descending structure with target at 1175. Later, in our opinion, instrument may start forming reversal pattern to start new ascending movement to return to level of 1360.
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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