24 December, 2013
Euro completed ascending structure inside correction towards previous descending movement. We think, today price may form another descending structure towards level of 1.3560 and then form reversal pattern to start the fifth wave to reach target at 1.4100. We should note, that this possible ascending structure may be formed without any corrections.
Pound is still moving inside consolidation channel, which may be considered as continuation pattern to continue falling down with target at 1.6300. Later, in our opinion, instrument may form reversal pattern to start new ascending trend with target at 1.7150.
Franc finished descending structure, which may be considered as correction towards previous ascending structure. We think, today price may form another ascending structure with target at 0.9055, which may be considered as one more structure from pattern at daily chart. After that, instrument may form reversal pattern to continue moving inside down trend towards target at 0.8300.
Yen is moving downwards with target at 103.58. After that, instrument may start new correction towards 104.00 and then start new descending structure to reach target at 102.75. This wave may be considered as new descending trend.
Australian Dollar is still being corrected towards previous descending movement; structure of this correction implies that price may fall down to reach 0.8840. Later, in our opinion, instrument may complete this correction by forming ascending structure to reach level of 0.8958 and then start moving inside down trend towards 0.8720.
Gold is still moving towards level of 1220; this movement may be considered as the fourth wave of another descending structure. We think, today price may reach new minimums, complete this fourth wave, and then start the fifth on inside this final structure with target at 1175. Later, in our opinion, instrument may form reversal pattern for new ascending movement to return to 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...