30 December, 2013
After making descending movement, Euro is still consolidating. We think, today price may continue forming ascending structure towards level of 1.4100. Alternative scenario implies that instrument may first form correction to reach 1.3555 and then continue growing up towards the above-mentioned target.
After breaking maximums, Pound is consolidating. We think, today price may continue moving upwards to reach level of 1.7150. Alternative scenario implies that instrument may fall down towards 1.6300.
Franc is forming divergent triangle pattern; market may try to test level of 0.9060 from below. Later, in our opinion, instrument may continue moving inside down trend towards level of 0.8300.
Yen is still moving upwards; market hasn't formed any reversal structures yet. We think, today price may reach target at 106.30.
Australian Dollar reach its another target. We think, today price may return to level of 0.8958. We should note that market is moving inside down trend and any correction may be considered as a good opportunity to increase short positions. Next target is at 0.8720. Later, in our opinion, instrument may consolidate for a while and then continue falling down. Main target is at 0.8400.
Gold is still forming the fifth descending wave with target at 1175. After reaching it, instrument may form reversal pattern and start new ascending movement towards 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...