10 January, 2014
Euro is forming another ascending impulse, which may be considered as the beginning of reversal structure for new ascending movement. We think, today price may break descending channel and continue moving upwards. The first target is at 1.3830. Later, in our opinion, pair may consolidate for a while and then continue forming this ascending wave. Next target is at 1.4100.
Pound is still moving inside ascending structure; market is forming consolidation channel. We think, today price may fall down and return to level of 1.6400. Later, in our opinion, pair may start new ascending structure to break maximums and form the third wave towards level of 1.7470.
Franc completed one impulse inside descending wave; right now, market is forming consolidation channel near its minimums, which may be considered as continuation pattern to continue this descending wave. We think, today price may fall down to reach level of 0.9000, consolidate for a while, and then continue moving downwards. Main target of the third wave inside this descending trend is at level of 0.8300.
Yen is still consolidating inside narrow trading range. We think, today price may continue falling down towards level of 103.00 and then return to 104.00.
Australian Dollar continues forming ascending structure towards level of 0.9020; this structure may be considered as the fifth wave of current correction. Later, in our opinion, pair may continue falling down inside descending trend. Target of this wave is at 0.8400.
Gold is still moving upwards. We think, today price may continue growing up to reach level of 1248. Later, in our opinion, instrument may consolidate for a while and then continue forming ascending structure.
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...