8 January, 2014
Euro is still consolidating; market has reached minimum of correction towards previous ascending wave. Later, in our opinion, price may continue forming ascending structure towards level of 1.4100. Alternative scenario implies that pair may move downwards up to level of 1.3555 and then start forming new ascending structure.
Pound is also consolidating. We think, today price may move upwards to reach level of 1.6477, return to level of 1.6400, and then continue growing up inside ascending trend. Alternative scenario implies that pair may fall down to reach 1.6300 and then form another ascending structure.
Franc completed its correction. Later, in our opinion, instrument may form reversal pattern to continue moving downwards. Main target is at level of 0.8300.
Yen is trying to start new ascending movement towards level of 108.50. However, current descending structure may yet continue, that’s why alternative scenario implies that price may move downwards to reach level of 103.00.
Australian Dollar is still consolidating and may continue forming ascending structure towards level of 0.9075. Later, in our opinion, pair may continue falling. Main target is at level of 0.8400.
Gold is also consolidating and expanding its triangle pattern. We think, today price may continue growing up towards level of 1277.
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...