9 January, 2014
Euro completed descending structure towards level of 1.3555 and right now is forming new ascending structure. We think, today price may form reversal pattern and start moving upwards to reach target at 1.4100.
Pound finished ascending structure towards level of 1.6470 and right now is starting new descending movement to return to level of 1.6400. Later, in our opinion, pair may continue growing up inside ascending trend to reach 1.7470.
Franc is trying to reach its resistance level at 0.9137. Later, in our opinion, instrument may fall down and form reversal pattern to continue moving downwards. Target is at level of 0.8300.
After completing another ascending impulse, Yen is consolidating. We think, today price may leave this consolidation channel downwards to reach target at 103.00 and then return to level of 104.00.
Australian Dollar is still forming correctional structure. We think, today price may complete this correction in the form of flag pattern by forming its fifth wave with target at 0.9020. Later, in our opinion, pair may continue falling down. Target is at level of 0.8400.
Gold reached level of 1220. We think, today price may start forming new ascending structure 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...