7 January, 2014
Euro is still moving inside descending channel; this movement may continue up to level of 1.3555. Later, in our opinion, price may continue forming ascending structure towards level of 1.4100.
Pound tested level of 1.6436 from below. We think, today price may continue moving downwards to reach level of 1.6265. Later, in our opinion, price may form another ascending structure to break maximums and reach 1.7470.
Franc is still moving inside ascending channel with target at 0.9076. Later, in our opinion, instrument may reverse downwards and continue moving inside down trend towards level of 0.8300.
Yen is still moving downwards with target at level of 103.00.We think, today pair may fall down to reach 103.46, test level of 104.20 from below, and then move towards level of 103.00. Later, in our opinion, price may start new ascending movement to reach level of 108.50.
Australian Dollar formed triangle pattern and broke it upwards. We think, today price may return to level of 0.9080 and then continue falling down towards level of 0.8400.
Due to the gap, Gold broke upper border of previous descending structure, which means that market may continue growing up towards level of 1270. Later, in our opinion, price may fall down to eliminate this gap and then start new ascending structure to reach 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...